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HomeMy WebLinkAboutMinutes - City Council - Regular - 11/16/1949RECESSED REGULAR MEETING Lubbock, Texas November 16, 1949 The City Commission of the City of Lubbock, Texas, met at 4 P.M. in recessed regular session, recessed from Regular meeting of November 10, 1949, at the regular meeting place in the City H,11, the follow- ing members thereof being present, to -wit: Mayor W.H. Rodgers, Coiunissioners W.B. Price, Clarence K. Whiteside, John Spikes, City Attorney Vaughn E. Wilson, City Manager Steve Matthews, City Secretary Lavenia Lowe. Absent: Commissioner E.K. Hufstedler, Jr. Proposals as follows were received for legal services in connection with bond election to be held December 13, 1949: ELMER V. EAST ATTORNEY AT LAW Lubbock National Building Lubbock, Texas November 10,191+9 Honorable Mayor and City Commissioners City of' -Lubbock, Texas Lubbock, Texas Gentlemen: ll a Pursuant to the requeet of Mr. Steve Matthews, City Manager that I submit a bid to the City Commis: ion for legal services in �•'/e d connection with the proposed issue of approximately $1,000,000.00 of the bonds of the City of Lubbock, Texas, it is my pleasure to �oceeiahe submit the following: is i3 9'' I will furnish all election proceedings necessary in connection with the holding of the election for such bonds. In event the elec tiod fails and no further services are needed my fees will be $250.00. In connection with the proposed election, the City shall pay' for the newspaper advertisment, pay for printing the ballot and all other election supplies. In event the bond election carries, I propose to furnish the bond ordinance, make all preliminary examinations of tle records of the City to determine the maturities of the issue, prepare the com- plete bond transcript with all financal statements, instruments and certificates which must accompany the same and represent the City in the legal capacity of bond counsel throu-h the time when the proceeds of the sale of the bonds have been received in cash by the City on the following basis: 1. The City is to pay for the market attorneyts opinion on the bonds at the amount set by the firm of attorneys who dhall approve such issue or issues of bonds for the market, if the bonds are sold on con- dition that the City shall ,pay for the market attorney's opinion. In this connection the City may desire to sell the bonds on condition that the purchaser procure, furnish and pay for the market attorneyts opin- ion. However it is my suggestion that the City sell the bonds on con- dition that the opinion of Chapman and Cutler of Chicago, Illinois . shall accompany such bonds and shall be furhished by the City. If the bonds are sold with Chapman and Cutler's opin.,on, I agree to procure the opinion of this firm and submit the bill therefor to the City and the City shall pay that amount. 2. The City is to pair for the printing of the bonds. In this connection I have a contract with Thatcher Printing Company of Lubbock, Texas, to print all bonds which I submit to it. I shall have these bonds printed at Thatcher Printing Company and the City shall pay direct to Thatcher Printing Company the actual cost of printing these bonds. 3. I shall represent the City in procuring the opinion of the Attorney General of the State of Texas and the opinion of the Market Attorney. 4. My fees in event all of the bonds voted and authorized are issued at one time shall be the sum of $$1250.00, which shall include the election proceedings. In event it shall ',e determined that a por- tion of the bonds shall be issued at a later date or date then in, addition to the fee of $1250.00, I shall be paid $250.00 for each additional installment of bonds which shall be issued at later date or dates. In connection with the proposed bond issue, you are advised that this contract is for professional services inasmuch as that is what the City of Lubbock, Texas needs and apparently is desirous of receiv- ing. I am a licensed Attorney at Law and have a permit to practice accountancy in the State of Texas. It is my respectful opinion that these services cannot be performed for the City of Lubbock by a layman but must be performed by someone licensed to practice law inasmuch as the furnishing of legal proceedings for the holding of bond elections and the preparation of the transcript and the necessary legal certifi- cates which must accompany the same constitutes the practice of law as that term is defined in the laws of the State of Texas. It is my fur- ther -opinion that no layman can enter into a contract with the City and thereby agree to procure the services of an attorney to represent the City. The City must make that contract direct with the Attorney. It seems to me that the City would desire to hire its own attorney or representative, who would be directly responsible to the Mayor and City Cbmmission rather than make a contract with some individual firm or person who is not licensed to practice law and who must ergploy the services of an attorney to furnish legal proceedings to the City. Another matter which you should consider in employing someone to represent the City in this matter is the fact that the person employed should represent the City of Lubbock solely and should not be interested in purchasing the bonds. If you should see fit to use my services I frankly state that I shall represent the City of Lubbock solely and shall not be interested in any manner in bidding on the bonds. The person who represents the City in preparing the transcript should not be interested in purchasing the bonds. Sincerely yours, (Signed) Elmer, V. East EVE/b Lubbock, Texas November 10, 1949 To the Honorable Mayor, and ity Commission bbock, Texas Gentlemen: With referenceto the City of Lubbock, Texas, proposed issues of bonds, in the aggregate amount of $1,075,000.00, it is proposed as follows: That you secure the services of Dumas, Huguenin & Boothman, Market Attorneys, Dallas, Texas, for the preparation of all legal. proceedings and to provide, from time to time, if the election should carry, the orders issuig the bonds of the various issues_ and for the various purposes, attend to the approval of the Attor- ney General, registration by the Comptroller, and finally to give their opinion as market attorneys. You will have these attorneys to look to us for payment of their fee and charges. We will also provide the printed bonds, prepare and furnish all financial data necessary, through the cooperation of the City, and furnish the necessary proposals to be submitted for the pur- chase of the bonds, asdst in other matters that may be necessary for marketing the bonds and assist in such other details as may be necessary concerning the same. It is understood and agreed that this agreement is to be satis- factory to and approved by your City Attorney, and that both we and the Market Attorneys will have his cooperation in all matters. It is the intention herein that through these proceedings, the purchaser or purchasers of the bonds herein named, will have provi- ded to him or them, wibhout cost, the approving opinion of Dumas, Huguenin & Boothman, Dallas, Texas, and should the purchaser or purchasers desire the approving opinion of any market attorney other than those above named, he or they will secure same at their own expense. If any proceedings have been started relative to the above bonds, we will be provided with pertif ied copies of the proceedings. Also it is understood that the City will pay for any advertis ments or notices 7-iven in your local paper and will pay the election officials. For our services and expense in the above, you will pay us a fee of $3.50 for each $1,000 bond on a maximum total issue of $1,075,000.00. It is understood and agreed that if any single delivery of bonds is authorized, issued and sold in units of less than $100,000.00, we are to be paid $1.00 for each $1,000 bond of such amount in addition to our regular fee herein above mentioTied. Respectfully submitted, CENTRAL INVESTMENT UO. OF TEXAS BY (Snd.) C.N. Smith Honorable W.H. Rodgers, Mayor, and Members of the City Commission Lubbock, Texas - Gentlemen: You have said to us that the City Commission of the City of Lubbock, Texas, contemplates the calling of an election to allow the voters of the City of Lubbock to approve or disapprove the issuance of certain bonded indebtedness. It is our further understanding that the sum total of bonds to be issued for various purposes totals $1,075,000. You have asked us to propose the circumstances under which we would act as your Fiscal Agent in this connection. We are happy to propose as follows: 1. Under the direction of a competent firm of recognized bond attorneys (McCall, Parkhurst & Crowe, Mercantile Securities Building, Dallas, Texas), to be employed by the�City of Lubbock, we will supervise, assist and advise with you upon steps necessary to be taken toward the calling of the election, the legal issuance of the bondS4. and further we will reimburse the City of Lubbock, Texas, for the full amount of the fee •of McCall, Parkhurst & Crowe. 2. We agree to attend to and pny for the printing of said bonds. 3. We will pay the necessary expenses in obtaining the approving opinion of the Attorney General of the State of Texas and registration by the Comptroller of Public Accounts, together with any and all other expenses incident to the final issuance of the bonds, with the excep- tion of the payments to election judges for services rendered, and fur- ther should any litigation be instituted preventing the completion of the issuance of the bonds, then the expenses of such litigation shall be borne by the City of Lubbock. 4. We agree to dubmit to the City Commission of the City of Lub- bock, Texas, for its approval a schedule of na turities which will ad- vantageously coincide with the present maturing obligations of the City. 5. We agree to prepare notices containing proper financial data and other pertinent information necessary for investment firms to sub- mit bids. 6. We agree to pay the expenses fmr the advertising of these bonds in the "Bond Buyer", such advertisement to run one time in the weekly issue ten days prior to the date that the City of Lubbock will receive bids. 7. We agree to prepare complete data with respect to the debt of the City of Lubbock, Texas, its tax resources and its economic position in order to properly present the situation of the City with the finan- cial rating agencies, such as Standard and Poor's Corporation, Dun and Bradstreet, and Moody's Investors Service. The City Commission of the City of Lubbock, Texas, hereby agrees to cooperate with us and the heretofore mentioned firm of bond attorneys in the passing of all necessary orders, etc., required in the lei4al issu- ance of these bonds. After we have done all things required of us toward the final issuance of these bonds in whole or in part and delivery of same to the successful purchaser, then the City of Lubbock agrees to pay to us and we agree to accept a fee of $3.40 per bond, such amount to be paid to us simultaneously with -the delivery of the bonds. In the event the election or elections contemplated in this proposal fail, and no bonds are issued, you will owe us nothing. In connection with this proposal, we reserve the right to submit a bid for these bonds when advertised for sale, and if we are the successful purchaser to waive our fee if we choose to do so. his proposal is submitted to you in dupplicate, and upon acceptance and approval by you, shall be signed by the Mayor and attested to by the City Secretary of the City of Lubbock, Texas. Respectfully submitted, FIRST SOUTHWEST COMPANY BY (Sipmed) Frank J. Medanich Authorized Representative N.A. HAGBERG & COM PANY, INC. This, the 16 day of November , 1949 came on to be considered the above set out proposal between the City of Lubbock, Texas, and First Southwest Company and M.A. Hagberg & Company, Inc., Dallas, Texas, and after due consideration motion Was made by Com- missioner Whiteside and seconded by Commissioner that the City of Lubbock, Texas, enter into said proposaly accor ing to the terms thereof. The motion was passed unani- mously with all members of the City Commiss=on present. (Signed) W.H. Rodgers Mayor, City of Lubbock, Texas ATTEST: (Signed) Lavenia Lowe City Secretary Motion was made by Commissioner Whiteside, seconded by Commissioner Spikes, carried unanimously, that the proposal of First Southwest Com- pany and M.A. Hagberg & Company, Inc., be accepted; the legal work to be performed under the direction of McCall, Parkhurst & Crowe, Mercantile Securities Building, Dallas, T xas. Authorization bein hereby given for the Mayor to sign any required %ontracts in this connection. Motion by Commissioner Whiteside, seconded by Commissioner Price, carried unanimously, that the proposal of F.D. Brown be accepted for opening of 19th Street from Texas Avenue to Avenue G; the City agree- ing to purchase Out Lots 12 and 13, Survey 1, Block 0, and the South 2 fe etof Lot 12, Block 230, Original Town of Lubbock, Texas; portion required by the City being 17,532 Square Feet. Purchase price to include the two brick houses located on Texas Avenue and a metal garage building on Avenue G. Total purchase price being $45,000.00. The property owner to furnish Abstract of Title to date of closing transaction, showing good and merchantable title in the grantors. Action as follows, was taken in connection with opening of 19th Street Texas Avenue to Avenue G: Motion by Commissioner Whiteside, seconded by Commissioner Price, carried unanimously, that the proposal of C.C. Burns be accepted for purchase of North 24 feet of Lot 12, Block 230, Original Town of Lubbock, Texas, purchase price being $1,280.00. The property. owner to furnish Abstract of Title to date of closing transaction showing good and merchantable title in the grantors. Motion by Commissioner Whiteside, seconded by Commissioner'Price, carried unanimously, to authorize purchase of 2010 square feet of Lot 1, Block 1, Dupree Addition to the City of Lubbock, J.K. Miller, owner. Purchase price $4,600.00. The property owner to furnish abstract of Title to date of closing transaction, showing good and merchantable title ' in the grantors. Motion by Commissioner Whiteside, seabnded by Commissioner Price, carried unanimously, to authorize purchase from M.M. Crawford, 2100 square feet of Lot 1, Block 11, Hart Addition of the City of Lubbock, purchase price being $3,750.00. The property owner to.furnish Abstract of Title to date of closing transaction} showing good and merchantable title in the grantors. Motion by Commissioner Whiteside, seconded by Commissioner Price, carried unanimously, to authorize purchase of 777.5 square feet of Lot 12, Block 231, Original Town of Lubbock from Mrs. W.F. Cole. Purchase price being $1,000.00. The property owner to furnish Abstract of Title to date of closing transaction, showing good and merchantable title in the grantors. Motion by Commissioner Whiteside, seconded by Commissioner Price, carried unanimously, to authorize purchase of 34.2 x 125 Feet, or 4,275 Square Feet of Lot 12, Block 231, Original Town of Lubbock from E.L. Hicks. Consideration: $40,000.00. The property owner to furnish Abstract of Title to date of closing transaction, showing good and merchantable title in the grantors. Motion by Commissioner Whiteside, seconded by Commissioner Price, carried unanimously, to authorize purchase from A.M. Leftwich, 34.5 x 125 Feet tract of land south of Lot 12, Block 231, Original Town of Lubbock, front- ing 34.5 feet on the east side of Avenue H, for a consideration of $8,625.00. The property owner to furnish Abstract of Tible to date of closing transact- ion, showing good and merchantable title in the grantors. Motion by Commissioner Whiteside, seconded by Commissioner Price carried unanimously, to authorize purchase of 1,875 Square Feet of Lot 4A, Block 1, Dupree Addition, from John Toles for consideration of $4,600.00. Thd pro- perty owner to furnish Abstract of Title to date of closing transaction showing good and merchantable title in the Mrantors. NOV 2 31949 No further business coming up for considertition the City Commission recessed to meet Nov. 23, 1949, at 1:30 P.M. Read and approved this the 23rd day of November1949. ATTEST: y ecreta 5 -4;1 -