Loading...
HomeMy WebLinkAboutResolution - 031341A - Accepting Bids - Purchase Of Electric Light Improvements & Construction Bonds - 03_13_1941 o31341 A RE OLUT1 J &UD ORDRR A00Rn1JG BIDS _70R 7' P'CRCCHAST OF 175,000.00 Cry OF LI BOC , x� ; t comc LIGHT IV.?RQv rtT AND CONSTRUCTION -BONDS, AML $75,000.00 33T7T 0-F LUBEDO t T tAs, ' TOX WNDS, ALL DVIn FFRRO_RY 1©, 1"1. COUNTY F L 00CK 0 4 om QY LLTH ex, ON 'IT?S the lAth„ day of Waroh, 1941s, the City Comission of the City of Lubbock, Texas, convened in ...ggolijoir sesslano at the regular mating place, thereof in the City Hall, with the tbllowing members tamreof, to-wit: 0. 1R. BLATON, VATORI zC 00 R 1# HUB ;ONxS, COMYTSITOWR No. 4# present, and the tgt.Uming absent : 16A,6 ; Cjgjj Ji W Q constitutlrC a quorm# when,, among other proe,ee,dings had, were the rollowins i0ro4uved a resolu- tion and order and awed its adoption., 'The notion was seconded by CommUsioner . The notion, carrying with it the adoption of the resolution and order, prevailed by the lollcming vote: ATWt Mayor slaton and commissioners fit, Newsom and Zones. oma T-5. L4 I A NOES 1 None. The MMLUTION AND O ER is as lbllors t "RESOLUTION AND ORDER by the City Commission of the City of Lubbock, Tsaas, assepting bids for the purchase of w175 000.00 City of Lubbock, Texas, Electric Light YmpraTo. meat and Construction Bonds, and 1750000.04 City of Lubbock, Texas, Waterworks Tm rove- ment and Constraetion Bonds, all dated Pebrutary 106 1941." WHEREAS, as required by Section 6, of Article VIII, of the Lubbock Charter, notice of sale in respect of $1750000,00 City of Lubbock, Texas, Electric Light Iaeprovement and Construction Bonds, and $75,000.04 City of Lubbock$ Texas, Waterworks Improvment and Construct ion Bonds,, all dated 701bruary ld, 1941, were duly issued and published by the City Secretary in THE MORMIM AVALLNCHR, a newspaper published in the City of Lubbock, Texas, and which notice of sale was published in said newspaper on the folltmring dates t �, 1941, j0b. I0,19„A2, Feb. 8, 19u Zab_ 1941, and , �.... ...�....r � 19419 the first Mate of publication being not less than thirty (30) days prior to the 25th day of Febraary, 1941, the date of sale stipulated in such notice I and, WHEREAS, in *oaformity with snob notloe of sale , sealed proposals or bids for the purchase of said bonds, were duly deposited with the City Secretary not later than 7100 P. k. on Thursday, the 2 5th day of D'ebruatg, 1941; and, 031341A WHRMSO after all proposals or bids had been opened and read, and duly aonsidersd, it wan found that the proposala or bids sutaitted by the CIT Z=S NATIONAL BANX OF LUBBOCK9 1 �,L,6, were the highest aad best proposals or bide submitted; said bank having bid par end aeerued interest and a pronieaa of , � for the purchase of the said �175,000,00 "city of Lubbock, °Caxus , 'leotria Light Im- pr©vezon% and Construction Hands, and having bid par and accrued WBrest and a emium of is.oc for the purchase of the said 07 ,0©0.00 "City of Lubbock, Texas, Water- works TMrovsm*nt and Construction Bonds, and in consequence thereof" this Commission and a pprov*4 t bo proposals or bids of the said Citizens :latLonal Bank of Lubbock, Texas, and .the saki bonds were dvtly awarded and sold to the said Bank for the prices stated; therefore, BE IT S LT--, AND ORDBRID BY VHr COWISSTON OF THE CITY OF LUBHOOX# TIW! That the proposal or bid of CITIZENS NATIONAL BANYL OF LUBDOCKO T-'XAS, to puarahasam at a price of par and aaerued interest and a premium of n "City of Lubbock, Texas, Electric Light Improvement and Construc- tion Bonds,"dated Febrwu7 10, 194.19 is bereby accepted and approved; said bo nd st being in the pri ra c i pa 1 a= of $1989 000.00, nusbered from 1 to 1769 both inclusive, all bearing interest from date until paid at the rats of 1% per wmm, due serially ,. 9000.00 on the loth day of each month beginning :anuary lO, 19421, and ending November 105 1944, with the interest payable on august 10, 1941 and on PeUmary 10, 1948, and thereafter s omi.-annually on August 10th and robrAwry loth of each year, OBIS41A except interest will be paid at naturi 7 on the bonds vaturing between regalar interest paying hates. IT. That this --proposal, or bid or '0I %k,° IOUL RM OF LUBAOCX, '1'- YAS O to ease at a pri oe of par and aoaraed interest and a premium of 10000 � "City of Lubbock, Texas, Waterworks Improvement and Cion- struction Bonds," dated PoWmary 10, 1941, is hereby aearptsd, and appm*d; said, bonds being in the Trinaripal six of �750000.kfts awbored from 1 to 758 both inalusive, all bearing interest from date until paid at the rate of lei per anwa:, due serially ;` UP,4A0*00 on February 14th in each of the year► 19420 1943 and 1944, interest payable on Av4pst 10p 1941, and thereafter $omi-anaftlly on ftuvazy loth and �usu$t loth, in each year. III. That the be a s Ira rei nabows described are hereby deelared to be sold to the •aid Cn!r4 NS ?41ATTCNAL '9ANK OF LIP-5L.I , ':E'a�;4.SO at the pri"s hereinabove stated. PAS,= A= 4LP11RQVMp this the .a". day of Uuroh, i941� ,kTTWrt Mayor, City of IAtbbook# Texas. ':2, OoLi .ty _ aretary, 'ity of Lubbock, Te"B„ (city seal)