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Home My WebLink About1965-04-29 151 Bozeman, Montana April 29, 1965 SPECIAL MEETING Pursuant to call in compliance with the pro'~sionB of Section 11-3249, R.C.M. 1947, Section 2.08.060 of the Bozeman Municipal Code, the City Commission of the City of Bozeman met in the Commission Room, City Hall Building, in special session, Thur ada y 29 April 1965, at 1:30 o'clock p.m. Present were-Mayor Morrow, Commissioner Sedi~y, I Commissioner Langohr, City Manager Cutting, Asa't City Manager Fryslie, C1 ty A ttorne y Berg and the Clerk. The fallowing proceedings wer bad: Sale of Bonds -- Special Improvement District No's. 441, 442, 443, 444, 445, 446, 447, 448, 449, 450, 451 and 455. This was the time and place set for the sale of bonds of Special Improvement District No's. 441, 442, 443, 444, 445, 446, 447, 448, 449, 450, 451 and 455. Affi- davits of publication of the separate notices of sale of the bonds of each district was presented. The Mayor and the City Manager outlined the proceedure for conducting this bond sale and stated that the amount of bonds to be sold for each district would be adjusted in accordance with low construction bids received as follows, in some cases varying from the amounts as advertised. S.I.D. No. Advertised Amount Amount to be Sold No. 441 $78,000.00 $72,000.00 No. 442 27,000.00 23,000.00 No. 443 25,000.00 22,000.00 No. 444 19,000.00 21,000.00 I No. 445 16,000.00 16,000.00 No. 446 36,000.00 36,000.00 No. 447 87,000.00 87,000.00 No. 448 22,000.00 21,000.00 No. 449 35,000.00 30,000.00 No. 450 33,000.00 33,000.00 No. 451 47,000.00 35,000.00 No. 455 5,400.00 5,400.00 Specific attention was called to the amount of bonds to be sold for S.I.D. No. 444, being in excess of the Resolution of Intention amount, and the bidders were in- formed tha t the City had obtained au thoriza tion from all of the property owners in- volved in the district for exceeding the resolution of intention limitation. The Mayor announced no sealed bids had been received and tha t oral bidding could begin, following a discussion of bidding proceedure: Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Im},;rovement Distriot No. 441 in the amount of f72,000.00. The following bidders qualified by depositing with the Clerk of the Commis si on the necessary bid security: BID D E R RE.ERESEN..TIN G..:. ------ I . H. Allen Shumate George K. Baum & Company - Denver, Colo. & D. A. Davidson & Co., - Helena, Mont. R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana E. P. R. Erckenbrack Grande & Co., Inc. - Seattle, Washington w. H. Swanberg W. H. Swanberg & Co., - Great Falls, Mont. R. M. Lockwood First National Bank - Bozeman, Montana J. D. Street and Security Bank & Trust Company - Bozeman, Mont. R. F. Stevens Yellowstone Bank - Laurel, Montana The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: 152 BIDDER INTEREST RA TE ------ -------- R. I. Diefenderfer 5.00% W. H. Swanberg & Co. 4.55% Grande & Company 414~l Security Bk. & Trust Co. & Yellostone Bk. 4.20 (Plus l50.00 premium) George K. Baum & D. A. Davidson Co., 4.20% (Plus 72.00 premium) First National Bank 4.20% (Plus $100.00 premium) Following the recommendation of the Director of Finance, concurred in by the Ci ty Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, I that the bid of the First Nationsl Bank, Bozeman, Montana, being the lowest and best bid submitted, the sale of the bonds be awarded to the First National Bank of Bozeman, Montana, and the bid security of the unsuccessful bidder be returned and the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Comm- i~sioner Sedivy and Commissioner Langobr; those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. 442 in the amount of $23,000.00. The following bidders qualified by depositing wi th the Clerk of the Commission the necessary bid security: BID D E R REPRESENTING. ------ ------- J. D. Street & R. F. Stevens Security Bank & Trust Co~pany - Bozeman, Mont. and Yellowstone Bank - Iaurel,Montana R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana E. P. R. Erckenbrack Grande & Co., Inc. - Seattle, Washington W. H. Swanberg W. H. Swanberg & Co., - Great Falls, Montana The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: ]lRDEl! INTEREST RATE Id ------- Security Bk. & Trst. Co. & Yellostone Bk. 5.40% R. I. Diefenderfer 5.30% Grande & Company 4.70,% W. H. Swanberg & Co, 4.65% Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Langohr, seconded by Commissioner Sedivy, that the bid of W. H. Swanberg & Co., Grea t Falls, Montana, being the lowest and best bid submitted the sale of the bonds be awarded to W. H. Swanberg.& Co., Grea t Falls, Montana, and the bid security of the unsuccessful bidders be returned, and the motion was carried by.the following Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. 443 in the amount of j22,OOO.00.. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: BID D E R RE:E.RE~NTING~ ------ H. Allen Shumate George K. Baum & Co., Denver, Colorado & I E.P.R. Erckenbrack D..I A. DavCdson & Co., Helena, Montana Grande &; 0., Inc. - Sea t tIe, Wa shington R. T. Diefenderfer 222 B. Babcock - oozeman, Montana W. H. Swanberg W. H. Swanberg & Co., - Great Falls, Mont. R. M. Lockwood First National Bank - Bozeman, Montana J. D. Street & Security Bank & Trust Co., Bozeman, Mont. h . F. Stevens Yellowstone Bank - LB.ti.rel, Montana The lowest effective interest rate accrulng to the City of Bozeman offered as oral bids were as follows: 153 BID D E R INTEREST RATE --~--- "'"-'------ George K. Baum & D. A. Davidson Co., 4.95% R. I. Diefenderfer 4.75% Grande & Company 4.65% W.H. Swanberg & Co., 4.50% First National Bank 4.25% Security Bk & Trust Co. & Yellowstone Bank 4.20% I Following the recommendation of the Virector of Finance, concurred in by the " , 01 ty Manager, it was moved by. Commissioner Sedivy, seconded by Commissioner Langohr, the t the bid of the Security Bank and Trust Company, Bozeman, Montana, and the Yellowstone Bank, Laurel, Montana, being the lowest and best bid submitted, the sa le of the bonds be awarded to the Seeuri ty Bank & 'I'ru st Company and the Yellowstone Bank, Laurel, Montana, and the bid secu ri ty of tl:e unsuc cessful bidder be returned and the motion was carried by the following Aye and No vote: those voting Aye beIng Mayor Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. Mayor Morrow announced the City was ready tD conduct oral bidding on the bonds of Special Improvement District No. ~in the amount of j21.000.00. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid seourity: BIDDER REF RESENTIN G ------*- -..------ E.P.R. Erckenbrack Grande & Co., Inc. - Sea ttle, Wash. W. H. Swanberg W. H. Swanberg & Co., - Great Falls, Mont. J. D. Street & R. F. Stevens Security Bank & Trust Co., & the Yellowstone Bank - laurel, Mnntana R. T. Diefenderfer 222 E. Babcock - Bozeman, Montana I The lowest effective interest ra te acoruing to t he (.;i ty of Boz amen offered as oral bids were as follows: ~I12DER INTEREST RATE ------- Grande & Company 5.50% W. H. Swanberg & Co., 4.80% Security Bank & Trust & Yellowstone Bank 4.75% R. I. Diefenderfer 4.70% Following the reoommendation of the Direc tor of Finan oe, concurred in by the l.iity Manager, it was moved by Commissioner Langohr, seconded by Commission Sedivy, that the bid of R. I. Diefenderfer, Bozeman, Montana, being the lowest and best bid submi tted, the sa le of the bonds be awarded to R. I. Diefenderfer, Bozeman, Montana, and the bid securi ty of the unsuccessful bidder be returned and the the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. Ma yor Morrow announced the City was ready to oonduct oral b iddingon the bonds of Special Improvement District No. i!2 in the amount of ~16,000.00. The following bidders qualified b, deposi ting wi th tbe Clerk of the Commission I the necessary bid securi ty: B1D12E~ REPRESENTING .....------- E.P.R. Erckenbraok Grande & Co., Inc. - Seattle, Washington R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana W. H. Swanberg w. H. Swanberg & Co., - Great Falls, Mont. J. D. Street & Security Bank & Trust Co., - Bozeman, Mont. & R. F. S te ven s The Yellowstone Bank - Laurel, Montana The lowest effective interest rate acoruing to the City of Bozeman offered as oral bids were as follows: BID D E R INTERES T RA TE ------ ------- Grande & Company 5.25% R. T. Diefenderfer 4.751 . H. wa be & Co . !eouri~y ~nkg& Tfst Co. & Yellowstone Bankt.~g 1.54 Following the recommendation of t he Director of Finance, concurred in by the City Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, that the bid of the Security Bank & Trust Company, Bozeman, Montana, and the Yellow- stone Bank, Laurel, Montana, being the lowest and be'st bid subDii tted, the sale of the bonds be awarded to the Security Bank & Trust Com:psny, Bozeman, Montane., and the ,Yellowstone Bank, !.aurel, Montarn, and the bid security of the unsuccessful I bidder be returned and the motion was carried . . . . . Mayor Morrow announced the City was ready to conduct oral bidding on the bonds ..". ~ of Special Improvement District No. ~ln the amount of ,j36,OOO.OO. The following bidders qualified bY' depositing with t he Clerk of the Oommission the necessary bid security: ~ I .2 .2 LR REPRESENTING ------ H. Allen Shumate George K. Baum & Co., Denver, Colorado, & D. A. Davidson & Co., Helena, Montana R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana W. H. Swanberg ~. H. Swanberg & Co., - Great Falls, Montane E.P.R. Erckenbrack Grande & Oo~" Inc. ... Seattle, Washington J. D. Street & Security Bank & Trust Company - Bozeman, ,....ont. R. F. stevens The Yellowstone Bank - Is.urel, Mon tane. The lowest effective interest rate accruing to the City of Bozeman offered8s oral bids were as follows: BID D E R ~N'l'EREST_RATE ------- George K. Saum & D.A.Davidson Co., 4.90% R. I. Diefenderfer 4.75% Grande & CompanI 4.40% (plus $25.00 premium) W. H, Swanberg Company 4.35% Security Bank & Trust Co. & Yellowstone Bank 4.35% (plus $50.00 premium) I Following the recommendation of t he Director of .t"inance,concurred in by the Ci ty Manager, it was moved by Commissioner Langohr, seconded by Commissioner Sedivy, that the bid of the Securi ty Bank & Trust Uompany, Boz enlan, Mon ta na , and the Yellowstone Bank, Laurel, Montana, being the lowest and b est bid submi tted, the sa Ie of the bonds be a warded to the Security Bank &: Trust Oompany, Bozeman, Montana, and the Yellowstone Bank, Laurel, Montana, and the bid securi ty of t he unsuccessful bidder be returned and the motion was carried by the fol.lowing Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedi vy and Commissioner angohr, those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No.i!Z in the amount of j87,OOO.00. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: BID D ! R REPRESENTING ------ J. D. Street & Securit y Bank & 'lrust Co., - Bozeman &: R. F. Stevens The Yellowstone Bank - Laurel, Montana I R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana W. H. Swanberg W. H. Swanberg & C., ... Great Falls, Mont. E.P.R. Erckenbrack Grande & Co., - Seattle, Washington H. Allen Shumate George K. Ba.um &: Co., ... Denver, Colorado &: D. A. Davidson &: Co., ... Helena, Montana The lowest effective interes t rate a ecru ing to the Ui ty of Boz eman offered as oral bids were as follows: BIDDER INTEREST RATE --_......~- ------- Security Bank &: Trust Co. &: Yellowstone Bank 4.70~ R. I. ~iefenderfer 4.65% w. H. Swanberg &: Co., 4.35%. (Plus I 75.00 premium) Grande & Company 4.30% (Plus 90.00 premium) George K. Baum &: Co., & D. A. Davidson &: Co., 4.30~ (Plus $125.00 premium) , - 1.55 Following the recommendation of the Director of Finance, concurred in by the 01 ty Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, tha t the bid of the D. A. Davidson &: Compan y, Helena, Montana and George K. Beum &: Company, Denver, Colorado, being the lowest and best bid submitted, the sale of the bonds be awarded to the D. A. Davidson &: Company, Helena, Montana and the George K. I Beum &: Company, Denver, Colorado, and the bid securl ty of the unsuccessful bidder be returned and the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Improvement DistrIct No. ~ in the amount of j21,OOO.OO The following bidders qualified by deposi ting with the Clerk of the Commission the necessary bid security: BID D E R REPRESENTING ......---- ------- E.P.R. Erokenbrack Grande &: Co., Inc., - Sea ttle, Wash. R. I. Diefenderfer 222 W. Babcock - Bozeman, Montana w. H. Swanberg W. H. Swanberg & Co., - Great Falls, Mont. J. D. Street &: Security Bank & Trust Company - Bozeman, Ment. R. F. Stevens The Yellowstone Bank - Laurel, Montana Mrs. Harold Roby Helen Walsh Lutz - Bozeman, Mont. The lowest effective interest rate accruing to the City of DOZ eman offered as oral bids were as follows: BIDDER INTEREST_RATE Grande &: Company 5.00% R. I. Diefenderfer 4.65% W. H. Swanberg &: Company 4.50~ I Security Bank & Trust Co. & Yellowstone Bank 4.30% Helen Walsh Lu tz 4.25% Following the recommendation of t he Dir,ector of .J:t'inance, concurred in by the City.Manager, it was moved by Commis sioner Langohr, seconded by Commissioner Sedivy, that the bid of Mrs. Helen Walsh Lutz, Bozeman, Montana, being the lowest and best bid submitted, the sale of the bonds be awarded to Mrs. Helen Walsh Lutz, Bozeman, Montana and the bid security of the unsuccessful bidder be returned and the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy, Commissioner 1angohr; those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of ~pecial Improvement District No. ~ in the amount of j30,OOO.OO. The following bidders qualified by deposit lDg wi th the Clerk of the Commission the necessary bid seouri ty: BID D E R REPRESENTING R. I. Diefenderfer 222 E. Babcock - Bozeman, Montana w. H. Swanber~ W. H. Swanberg &: Co., - Great Falls, Montana E.P.R. Ercken raok Grande &: Co., Inc. - Seattle, Wash. J. D. Street & Security Bank & Trust Company - Bozeman, Mont I R. F. Stevans ~ The Yellowstone Bank - Laurel, Mont. The lowest effective interest rate acoruing to the 01ty of Bozeman offered as oral bids were as follows: BID D E R :INTEREST RATE ..........-...~- ------- R. I. Diefenderfer 4.65% w. H. Swanberg & Compan y 4.45% Grande & Company 4.25% (PIUB $50.00 premium) Security Bank & Trust Co., &: Yellowstone Bank 4.25~ Following the recommendation of the Direotor of Finance, ooncurred in by the City Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, 6 15 that the bid of the Security Bank & Trust Company, Bozeman, Montana and the Yellowstone Bank, Lau~, Montana, being the lowest and best bid submitted, the Sale of the bonds be awarded to the Security Bank & Trust Company, Bozeman, Montana, and the Yellowstone Bank, Laurel, Montana, and the bid security of the unsuccessful bidder be returned and the motion was carried by the folloWing Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner LangohI'; I those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of ~pecial Improvement District No.~ in the amount of $33,000.00. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: BID D E R REPRESENTING ------ -----....- R. I. Diefenderfer 222 East Babcock - Bozeman, Montana J. D. Street & Security Bank & Trust Company - Bozeman, Mont. R. F. Stevens The Yellowstone Bank - Laurel, Montana E.P.R. Erckenbrack Grande & Co., Inc. - Seattle, Washington W. H. Swanberg W. H. Swanberg & Co., - Great Falls, Mont. The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: BID D E R INTEREST RATE ------ ------- R. I. Diefenderfer 4.65% Security Bank & Trust Co. & The Yellowstone Bk. 4.4S;t (Plus $50.00 premium) Grande & Company 4.3S~ W. H. Swanberg & Co., Inc. 4.25% Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Langohr, seconded by Commissioner Sedivy, I that the bid of W. H. Swanberg & Co., Great Falls, Montana, being the lowest and best bid submitted, the sale of the bonds be awarded to W. H. Swanberg & Co" Great Falls, Montana, and the bid of the unsuccessful bidder be returned, and the motion was carried by the following Aye and No vote; those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner LangohJ:; those voting No, none. Mayor Morrow announced the Gi ty was ready to conduct oral bidding on the bonds of Special Improvement District No. 451 in the amount of $35,000.00. The following bidders qualified by depositing with the Clerk of the Commission the necessary Bid security: BIDDER REPRESENTING ,.,..----- ------- E. P. R. Erokenbrack Grande & Company, Inc., - Seattle, Wash. w. H. Swanberg W. H. Swanberg & Co,- Great Falls, Montana The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: BID D E R INTEREST RATE I -.----- ------- Grande & Co., Inc. 4.30% W. H. Swanberg & Company 4.25% Following the recommends tion of t he Director of Finance, concurred in by the City Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, that the bid of W. H. Swanberg, & Co., Grea t Falls, Montana J being the lowest and best bid submitted, the sale of the bonds awarded to W. H.Swanberg, Great FallS, M8ntana, and the bid of the unsuccessful bidder be returned and the motion was carried by the following Aye and No vote: those voting Aye being Ma yor 157 Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. Mayor Morrow announced the City was ready to conduct oral bidding on the bonds of Special Improvement Distriot No. 455 in the amount of $5,400.00. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: I BIDDER !EP R!S:RM' I!G ------ R. I. Diefenderfer 222 E. Babcock - Bozeman, Mont. First National Bank (R.M.Lockwood First National Bank. Bozeman, Mont. J. D. Street & R. F. Stevens Seo. Bk. & Trust 60, Bozeman & Yellowstone Bk. Laurel The lowest effective interest rate accruing to the l"Iity of .tiozeman offered as oral bids were as follows: BID D E R IN TEREST RATE ------ ------- R. I. ~iefenderfer 4.70% First National Bank 4.50% Security Bank & Trust Co. & Yellowstone Bank 4.40% Following the recommenda tion of the 9irector of Finanoe, concurred in by the City Manager, it was moved by Commissioner Langohr, seconded by Commissioner Sedivy, that the bid of tl:le Security Bank & Trust Company, Bozeman, and the Yellowstone Ban k, Laurel, Montana, being the lowest and best bid submi tted, the sale of the bonds be awarded to the Security Bank & Trust Company, Bozeman, Montana, and the Yellowstone Bank, Lanrel, Montana, and the bid security of the unsuccessful bidders be returned and the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Commissi oner Sedivy and Commissioner Iangohr; I those voting No, none. illournment There being no further business to come before the Commission at this time, it was moved by Commissioner Sedivy, seconded by Commissioner Langohr, the t the meeting be adjourned and the motion was carried by the following Aye and No vote: those voting Aye being Mayor Morrow, Commissioner Sedivy and Commissioner Langohr; those voting No, none. t' ->>~ rrow, Mayor ATTEST: ~4~ Cler~~€he I ty omm s n I