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Home My WebLink About1967-01-25 476 Bozeman, Montana 25 January 1967 The Commission of the City of Bozeman met in regular session in the Commission Room, City Hall Building, Wednesday, 25 January 1967, at 1:00 o'clock p.m. Present were Mayor Sedivy, Commissioner Morrow, Commissioner Langohr, City Manager Cutting, City Attorney Berg and the Clerk. Commissioner Langohr opened the meeting with a prayer and following proceedings were had: I Minutes of the regular session held Wednesday, l8 January 1967, were read and it was moved by Commissioner Morrow, seconded by Commissioner Langohr, that the minutes be approved as read and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Morrow, Commissioner Langohr and Mayor Sedivy; those voting No, none. No.-!ice_~f City Interest J!1~QJ:...t! Post Office Propert~: . Following a discussion and investigation of a notice posted at the Federal Building by the General Service Administration that the (old) United States Post Office and site at Bozeman, Montana, has been determined to be surplus Government property and is available for disposal pursuant to the provisions of the Federal property and Administrative Services Act of 1949, 63 Stat. 377, it was moved by Commissioner Langohr, seconded by Commissioner Morrow, that a preliminary application be submitted to the General Services Administration to acquire the former U. S. Post Office and Site located at the corner of Babcock Street and Tracy Avenue for off-street parking facilities and the City be granted not less than 180 days to develop a comprehensive and coordinated plan for use and procurement of the property and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Langohr, Commissioner Morrow and Mayor Sedivy; those voting No, none. Au~J~_'?..;:..Lt:.L..-!_o Re-Invest funds: SDS & Misc 1. $126,000.00 (U.S. Treas~~illsl: I A request from the Director of Finance for authority to re-invest $26,000.00 SDS funds and $100,000.00 Miscellaneous funds in U. S. Treasury bills was presented and concurred in by the City Manager. I t was moved by Commiss ioner Morrow, seconded by Commissioner Langohr, that the authority be granted as requested and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Morrow, Commissioner Langohr and Mayor Sedivy; those voting No, none. Surety Bond (Clerk of the Ci~__gommission._~~5-,-9_00.oq): A surety bond in the amount of $l5,000.00 written by the Reliance Insurance Company for Erna V. Harding, Clerk of the City Commission, and for a period of three years from December l, 1966, approved as to form by the City Attorney was presented. It was moved by Commissioner Langohr, seconded by Commissioner Morrow, that the bond be approved as presented and the motion was carried by the following Aye and No vote: thos voting Aye being Commissioner Langohr, Commissioner Morrow and Mayor Sedivy; ", those voting No, none: ReplacementYalue~_l::_i..tLowned BuildiE..&s and_Conten~=--Fire In~~~~ A review has been made of the replacement cost values of City owned buildings with the City's Insurance Agency in connection with renewal of the City's Fire Insurance program. Based upon rising construction costs, the City Manager recommended that a uniform 10% increase in value be established I with the exception of the Library Building where an additional increase is recommended bringing the values of the Library to $lSO,OOO.OO. It was moved by Commissioner Morrow, seconded by Commissioner Langohr, that the insurance be renewed as recommended and that further consideration be given to an additional increase in the value of the contents of the Library Building due to the materially in- creased cost of books and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Morrow, Commissioner Langohr and Mayor Sedivy; those voting No, none. -- ------ 477 Examination of Depository Bon?s: In compliance with the provisions of Section l6-26l8, R.C.M., 1947 the City Commission proceeded to examine the Receipts for Depository Bonds and Securities held by the Director of Finance as security for City Funds deposited in Bozeman banks. It was moved by Commissioner Langohr, seconded by Comm- I issioner Horrow, that the securities be approved and a list thereof be set forth in full in the min- utes of this meeting and the motion was carried 9Y the following Aye and No vote: those voting Aye being Commissioner Langohr, Commissioner Morrow, Mayor Sedivy; those voting No, none: DEPOSITORY BONDS & SECURITIES Receipt Total FIRST NATIONAL BANK, Bozeman: No. Amount Federal Deposit Insurance Corporation $ 15,000.00 Trusteed with Federal Reserve Bank of Mps.: State of Mississippi, GoSCH. BD Ser. E 3%, due. 11/1/70 11557 20,000.00 State of Calif., St. Constr. Program Bd. Ser.M 3.4%, due 7/1/84 11558 20,000.00 State of New York Highway Constr. Bd. 3%, due 10/1/78 11559 30,000.00 Ramsey County, Minn. Hospital Facility Bd. Ser.B 6%, due ll/1/72 10884 10,000.00 Bozeman High School District of Gallatin County, Montana School Building Bond 2.75%, due 7/l/70 l0873 15,000.00 County of Bergen, New Jersey 3% General Bond of 1961, due 2/1/70 10871 15,000.00 Baker High School District of Fallon County, Montana School Building Bond S.OO%, due 7/1/72 10869 l8,000.00 Belgrade High School District of Gallatin Co., Mont. 2.90% due 7/1/72 10870 19,000.00 State of California State School Bldg. Aid Bond Ser.FF 5% due 9/1/76 10874 20,000.00 The Junior College Dist. of Jefferson County, Mo. Ref. Bd. 3-1/8% due 4/1/76 10882 20,000.00 St. of Maryland, Gen. Pub1. Jr. or Community College Constr. Loan, 1962 Ser. K Issue of 7/1/64, 3%, due 7/1/77 10883 20,000.00 School Dist. #7 of Gallatin Co., Mont. (Bozeman) 2-3/4%, due 7/1/69 10872 25,000.00 U.S. Treas. Bds. of 1968, 3-3/4%, due 8/l5/68 l0403 50,000.00 U.S. Treas. Bds of 1974, 4-1/4%, due 5/l5/74 10619 200,000.00 Total $497,000.00 I GALLATIN TRUST & SAVINGS BANK, Bozeman: Federal Deposit Insurance Corporation $ lS,OOO.OO Trusteed with Federal Reserve Bank of Mpls.: U.S. Treas. Bonds of 1967, 2-l/2%, due 9/l5/72 .1301 2,000.00 School District No.2 Yellowstone Co. Mont., 2.4%, due 3/1/67 & 68 5983 25,000.00 U.S. Treas. Bonds of 1967, 3-5/8%, due ll/15/67 6859 25,000.00 Trusteed with Marquette National Bank of Minneapolis, Minn. Ennis, Mont. Madison Co. Sewer Constr. Bd. 4.45% due 9/l/67 to 86 2729 125,000.00 Total $192,000.00 SECURITY BANK & TRUST COMPANY, Bozeman: Federal Deposit Insurance Corporation $ 15,000.00 Trusteed with Federal Reserve Bank of Mpls.: U.S. Treas. Bonds of 1980, 3-1/2%, due ll/l5/80 10274 40,000.00 U.S. Treas. Bonds of 1967, 3-5/8%, due 11/lS/67 10272 196,000.00 U.S. Treas. Bonds of 1968, 3-7/8%, due 5/15/68 10273 26,000.00 f:usteed with Northwestern National Bank of Minneapolis: . elve Federal Land Banks, Cons. Federal Farm Loan Bds. 4%, due 5/22/67 B25l29 100,000.00 Twelve Federal Land Banks, Con. Fed. Farm Loan Bds. 4%, due 5/22/67 B24975 100,000.00 Total $477 ,000.00 This is to certify that we, the Commission of The City of Bozeman in compliance with the provisions of Section 16-26l8 R.C.M., 1947, have this day examined the receipts of the Federal Reserve Bank of Minneapolis, The Marquette National Bank of Minneapolis, and the Northwestern National Bank of Minneapolis, for the Depository Bonds held by the Director of Finance as security for the deposit of City of Bozeman funds by the several banks of Bozeman and find them to be as above stated, are hereby accepted and approved. I Signed Edmund P. Sedivy Mayor R. Harry Morrow Commissioner Don M. Langohr Commissioner Dated January 25, 1967 478 Rep~rts for D~cember (Continue~ The following reports were presented: Director of Public Service Director of Finance The City Manager commented on the reports and recommended their approval and it was moved by Commissioner Morrow, seconded by Commissioner Langohr, that the reports be approved and ordered I filed and the motion was carried by the following Aye and No vote: those voting Aye being Comm- issioner Morrow, Commissioner Langohr and Mayor Sedivy; those voting No, none. Obj':_<:'~~'2.fl"..!:....'?._u...s_l'l_9_L~~_!..~ on City Streets: A letter from Mr. Henry B. Gerry, 713 S. 14th Avenue, addressed to the City Commission protesting the use of salt on the City streets was presented. The Commission directed that the letter be referred to the City Manager for appropriate reply. ~~i()~ rn.!llen.t:.: There being no further business to come before the Commission at this time, it was moved by Commissioner Langohr, seconded by Commissioner Morrow, that the meeting be adjourned and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Langohr, Commissioner Morrow and Mayor Sedivy; those voting No, none. ATTEST: ........ ~$L ? :j?ha-/ P: (..'; "~ I Clerk of the City ission I