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HomeMy WebLinkAbout1962-10-30 170 SPECIAL MEETING Bozeman, Mon tana October 30, 1962 The Commission of the City of Bozeman met in special session in the I Commission Room, City Hall Building, 'l'uesday, October 3uth, 1962 at 1:30 orclock p.m. Present were Mayor Staudaher, Commissioner Sedivy, COIl1r.1is- sioner Morrow, City N~nager Cutting, City Attorney Berg, Director of Finance Shadoan and the Clerk. Sale of Bonds -- Special Improvement District No.rs 425 and 426 This was the time and place set for the sale of bonds of Special Improve- ment District No.rs 425 and 426. Affidavits of publication of the separate notices of sale of the bonds of each district were presented. The City Manager stated that bonds of Special Improvement District No. 425 would be issued in the total amount of $60,000.00, and contingent upon the approval of "Part B-Supplemental Pro,1ect Information" of the City's acceptance of the Federal grant of funds by the Water Pollution Control Agency of the U.S. Public Health Service, would be delivered on December 1, 1962 . It was agreed no addi tianal bid securi ty would be required. No sealed bids on this issue of bonds were received and the following bidders qualified by depositing with the Clerk of the Commission the necessary I bid security in the amount of $2,750.00. BID D E R :REPR~SENTINQ ------ J. D. Street Securi ty Bank & 'l'rus t Co., Bozeman, Mont. E. L. Heidel Arnold Hup~ert, Libingston, Montana H. Allen Shumate George K. aum & Co., Denver, Colorado Carl J. Hokanson Grande & Co., Sea ttle, WaShington Mayor Staudaher announced the Commission was ready to hear oral bids for bonds of the district and the bonds would be dated December 1, 1962. The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: BIDDER Interest Rate ------ Security Bank & Trust Co. 4.75% (Plus $25.00 Premium) Arnold Huppert 4.75% Grande & Company 4.85% George K. Baum & Company 4.90% Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Morrow, seconded by Connnissioner Sedi vy, that the bid of the Security Bapk & Trust Co., Bozeman, Montana, being I the lowest and best bid submitted, the sale of the bonds be awarded to the Security Bank & Trust Company, Bozeman, Montana, and the bid securities of the 1..msuccessful bidders be re turned. The motion was carried by the following Aye and No vote: those voting Aye being Mayor Staudaher, Commissioner Morrow and Commissioner Sedivy; those voting No, none. (Continued on Page No. 171) 171 The City Manager stated that bonds of Special Improvement District No. 426 would be issued in the total amount of $45,000.00, and contingent upon the approval of "Part B-Supplemental Project Information" of the City's acceptance I of the Federal grant of funds by the Water Pollution Control Agency of the U.S. Public Health Service, would be delivered on December 1, 1962. No sealed bids on this issue of bonds were received and the following bidders qualified by depositing with the Clerk of the Commission the necessary bid security in the amount of $2,25U.OO BID D E R R E PRE S E N TIN G ------ ------------ J. D. Street Security Bank & ~rust Co., Bozeman, Mont. E. L. Heidel Arnold Huppert, Livings ton, Montana Carl J. Hokanson Grande & Co., Seattle, Washington Mayor Staudaher announced the Commission was ready to hear oral bids for _. bonds of the district and the bonds would be dated December 1, 1962. The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as fOllows: BIDDER Interest Rate --...--- Arnold Huppert 4.85% Grande & Co. 4.90/'0 Security Bank & Trust Co. 5.20% I Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by commissioner Sedivy, seconded by Commissioner - Morrow, that the bid of Arnold Huppert, Livingston, Montana, being the lowest and best bid submitted, the sale of the bonds be awarded to Arnold Huppert, Livingston, Montana, and the bid securities of the unsuccessful bidders be re- turned. The motion was carried by the following Aye and No vote: those voting Aye being Mayor Staudaher, Commissioner Sedivy and Commissioner Morrow; those voting No, none. Adjournment There being no further business to come before the Commission at this time it was moved by Commissioner Morrow, seconded by Commissioner Sedivy, that the meeting adjourn. The motion was carried by the following Aye and No vote: those voting Aye being Mayor Staudaher, Commissioner ldorrow and Commissioner S,edi vy; those voting No, none. J7;rJ;l~d Ma yor I ATTEST: , e4:0~/ Clerk ofe City Commission - - - - - -- - -