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HomeMy WebLinkAbout1963-12-06 The following proceedings were had: Sale of Bonds -- Special Improvement District No's. 427, 428, 430, 431, 432, 433, 434 and 436. This was the time and place set for the sale of bonds ot Special Improvement District No's. 427, 428, 430, 431, 432, 433, 434 and 436. Affi- davits of publication of the separate notices of sale of the bonds of each district were presented: The City Manager outlined the procedure for conducting this bond sale and stated that the sale of bonds for each district would be made subject to the awarding of the contract work in each district for the paving projects and also for District No. 432, the Westside Sanitary Sewer Project, which contract award is also contingent upon the prior approval of the Water Pollution Control Agency of the U.S. Public Health Service. The Manager also stated the contract award for Special Improvement District No. 436 had been made contingent only on the sale of bonds, and also that the bonds for all districts would be dated I 378 Bozeman, Mon tans December 6, 1963 The Commission of the City of Bozeman met in special session in the Commission Room, City Hall Building, Friday, December 6th, 1963 at 1:00 o'clock p.m. Present were Mayor Staudaher, Commissioner Sedivy, Commissioner Morrow, City Manager Cutting, Ass't. City Manager Fryslie, City Attorney Berg, Director of Finance Shadoan and the Clerk. January 1, 1964. \ Mayor Staudaher announced the City was ready to conduot oral bidding on the bonds of Special rmprovement District No. jg! 1n the amount of $35,000~OO. The following bidders qualified by depositing with the Clerk of the Commission the necessary bid securl ty: I BIDDER ~ ~ ,... ~ IIIIIIIIIt .... Representing George K. Baum & Co., Denver, Colo. & D. A. Davidson & Co., Helena, Montana Arnold Huppert, Livingston, Montana Seourity Bank & Trust Co., Bozeman, Montana Thomas J. Connor Arnold Huppert J. D. Street Edward Towe First Nat'l. Bank of Circle, Montana The loweat effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: BIDDER Interest Rate --.....~~_..... I George K. Baum & Company & 4.75% (Plus $75.00 pl'ellllum) D. A. Davidson Company Grande & Company 4.75% (PIUB $50.UO premium) Arnold Huppert 4.50% (Plus $5U.00 premium) First Nat'l. Bank of Cirole, 4.50% (Plus $75.00 premium) Montana l Following the recommendation of the Direotor of Finance, conourred in I 379 I by the City Manager, it was moved by Commissioner Morrow, seconded by Commis- sioner Sedivy, that the bid of the First National Bank of C1rc~e, Montana, be- ing the lowest and best bid submitted the sale of the bonds be awarded to the First National Bank of Circ~e, Montana, contingent upon the award of the con- struction contract, and the bid security of the unsuccessful bidders be returned. 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. Mayor Staudaher announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. 428 in the amount of $58,OUO.00. - The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: BIDDER ... .... - .... ~ ... Representing George K. Baum & Co., Denver, Colorado & D. A. Davidson & Co., He~ena, Mont. Arnold Huppert, ~ivingston, Montana First Nat'l. Bank of Circle, Montana Grande & Co., Seattle, Washington Thomas J. Connor Arnold Huppert Edward Towe J. D. Street The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as fOllows: BIDDER - ~ .... - ..-. .... In teres t Ra te I George K. Baum. & Company & D. A. Davidson Company Arnold Huppert 4.80% First Nat'l. Bank of Circle, Montana Grande & Company 4.50% 4.50% (Plus $75.UU premium) 4.4u% Following the recommendation of the Director at Finance ot Finance, con- curred in by the City Manager, it was moved by Commissioner Sedivy, seconded by Commissioner Morrow, that the bid of Grande & Company, Seattle, Washington, being the lowest and best bid submitted the sale of the bonds be awarded to Grande & Company, Seattle, WaShington, contingent upon the award of the construc- tion contract, and the bid security of the unsuccesstu~ bidders be returned. 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. I Mayor Staudaher announced the City was ready to oonduct oral bidding on the bonds of Special Improvement District No. 430 in the amount of $22,uuO.Ou. The fOllowing bidders qualified by depositing with the C~erk of the Commission the necessary bid security: BIDDER ........~--..-..... Representinp: W. H. Swanberg, Great Falls, Montana First Nat'l. Bank, Bozeman, Montana Arnold Huppert, Livingston, Montana First Nat'l. Bank of CirCle, Montana Security Bank & Trust Co., Bozeman, Montana ' w. H. Swanberg Jeanne M. Roby Arnold Huppert Edward Towe J. D. Street . 380 The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as folloWSI .J31D12~.B Security Bank & Trust Co. Arnold Huppert First Nat'l. Bank of Circle, Montana W. H. Swanberg First Nat'!. Bank of Bozeman, Montana Interest Rate 4.75% 4.50% 4.50% 4.:30~ 4.25% (Plus $40.00 premium) (Plus $25.00 premium) (Plus $75.00 premium) Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Morrow, seconded by Commissioner I Sedivy, that the bid of the First National Bank, Bozeman, Montana, being the lowest and best bid submitted the sale of the bonds be awarded to the First National Bank, Bozeman, Montana, contingent upon the award of the construction contract, and the bid security of the unsuccessful bidders be returned. 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. Mayor Staudaher announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. 431 in the amount of $8,900.00. - The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: BIDDER .....,~--~... He pre s eil ting;, Arnold Huppert, Livingston, Montana Seourity Bank & Trust Co., Bozeman, Montana First Nat'l. Bank of Circle, Montana I Arnold Huppert J. D. Street Edward Tows The lowest effective interest rate aocruing to the City of Bozeman offered as oral bids were as follows: BIDDER .... ... .... ~ - .... Interest Rate Arnold Huppert First Nat'l. Bank of Bozeman, Montana First Nat'l. Bank of Cirole, Montana 5.00% 4.75% 4.75% (Plus $25.0U premium) Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Sedivy, seconded by CommiS- sioner Morrow, that the bid of the First National Bank of Circle, Montana, being the lowest and best bid submitted the sale of the bonds be awarded to the First Nation Bank of CiroLe, Montana, contingent upon the award of the construction contract, and the bid security of the unsuccessful bidders be returned. !he 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. Mayor Staudaher announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. ~ in the amount of $185,000.00. I (Continued On Pa~e No. 381) . . lO. ... 381 The following bidders qualified by depositing with the Clerk of the Commiss ion the necessary bid security: BIDDER ...... - - - ~...... Representing Arnold Huppert, Livingston, Montana First Nat'l. Bank of Circle, Montana George K. Baum & Company, Denver, Colo. & Da. A. Davidson & Co., Helena, Mont. Grande & Co., Seattle, Washington I Arnold Huppert Edward Towe Thomas J. Connor J. D. Street The lowest effective interest rate accruing to the City of Bozeman offered as oral bids were as follows: BIDDER Interest Rate _~...._~W-O Arnold Huppert 4.80% First Nat'l. Bank of Cirole, Mon tana 4.60% (Plus $100 premium) George K. Baum & Company & 4.40% (PlUB $3UO premium) D. A. Davidson & Co. Grande & Company 4.40% (Plus $350 premium) Following the recommendation of the Director of Finance, concurred in by I the City Manager, it was moved by Commissioner Morrow, seconded by Commissioner SediVY, that the bid of Grande & Company, Seattle, Washington, being the lowest and best bid submitted the sale of the bonds be awarded to Grande & Company, Seattle, Washington, contingent upon the award of the construction contract and prior approval of the project by the Water Pollution Control Agency of the U.S. Publio Health Service, and that the bid security of the unsuooessful bidders be returned. The motion was oarried by the following Aye and No vote: those voting Aye being Mayor Staudaher, Commissioner Morrow and Commissioner Sedivy; those voting No, none. Mayor Staudaherannounced the City was ready to conduct oral bidding on the bonds of Special Improvement Distriot No. ~ In the amount of $72,000.00. The following bidders qualified by depositing with the Clerk of the Commission the neoessary bid security: BIDDER ,.......~.........- Representing George K. Baum & Co., !)e,nver, Colorado & D. A. Davidson & Co., Helena, Mont. Arnold Huppert, Livingston, Montana First Nat'l. Bank of Circle, Montana Grande & Co., Seattle, Washington Thomas J. Connor Arnold Huppert Edward Towe J. D. Street I The lowest effeotive interest rate accruing to the City of Bozeman offered as oral bids were as follows: . (Continued on Page No. 382) 382 BIDDER __iWIIIIJI....~... Interest Rate George K. Baum & Co. & D. A. Davidson & Co. Arnold Huppert First Nat'l. Bank of Circle Montana Grande & Company, SeattLe, Washington 5.00% 4.5U% 4.50% 4.40% (Plus $200 premium) (Plus $100 premium) (Plus $225 premium) Following the recommendation of the Director of Finance, concurred in by the City Manager, it was moved by Commissioner Sedivy, seconded by Commis- sioner Morrow, that the bid of Grande & Company, SeattLe, Washington, being the lowest and best bid submitted the sale of the bonds be awarded to Grande & Company, Seattle, Washington, contingent upon the award of the construction contract, and the bid security of the unsuccessful bidders be returned. 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. Mayor Staudaher announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. ..!2! in the amount of $46,uOO.UO. The following bidders qualified by depositing with the Cle~k of the Commission the necessary bid security: ~ID]2!~ Thomas J. Connor Representing George K. Baum & Co., Denver, Colorado & D. A. Davidson & Co., HeLena, Mont. Security Bank & Trust Co., Bozeman, Mont. Arnold Huppert, Livingston, Montana First Nat'l. Bank of Circle, Montana J. D. Street Arnold Huppert Edward Towe The lowest effeotive interest rate accruing to the City of Bozeman offered as oral bids were as follows: Interest Rate ~l~12ER George K. Baum & Company Be D. A. Davidson Company Security Bank & Trust Co. 4.50% (Plus $75.00 premium) Arnold Huppert 4.60% (Plus $20U.OO premium) First Nat'l. Bank of CirCLe, Mont. 4.60% (PIUB $226.00 premium) 5.50~ Following the recommendation of the Director of Finance, concurred in by '" the City Manager, it was moved by Commissioner Morrow, seconded by Commissioner Sedivy, that the bid of the First Nat'l. Bank of Circle, Montana, being the lowest and best bid submitted the sale of the bonds be awarded to the First Nat'l. Bank of Circle, Montana, contingent upon the award of the construction contract, and the bid securi ty of the unsuccessful bidders be returned. 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. Mayor Staudaher announced the City was ready to conduct oral bidding on the bonds of Special Improvement District No. 436 in the amount of $21,500.00. I 1 ~ I The following bidders qualified by depositing with the Clerk of the Commission the necessary bid security: RepresentinP: Cave Construction Co., Great Falls, Montana Arnold Huppert, Livingston, Montana First Nat'l. Bank of Circle, Montana Security Bank & Trust Co., Bozeman, Montana W. H. Swanberg, Great Falls, Montana The lowest effective interest rate accruing to the City of Bozeman offered BIDDER ..... __ ... ..... ..-.!II ~ James Cave Arnold Huppert I Edward Towe J. D. . Street w. H. Swanberg as oral bids were as follows: BIDDER iIlIIIlIJo~....__~__ Interest Rate I Cave Construction Company Arnold Huppert First Nat'l. Bank of Circle, Montana (No Bid) 4.50% (Plus $100 Premium) 4.5U% (Plus $225 Premium) Security Bank & Trust Co., Bozeman, Montana 4.40% w. H. Swanberg 4.40% (Plus $25 Premium) " 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 W. H. Swanberg, Great Falls, Montana, being the lowest and best bid submitted the sale of the bonds be awarded to W. H. Swanberg, Great Fal~8, Montana, contingent upon the award of the construction contract, and the bid security of the unsuocessful bidders be returned. The motion was oarried by the follOWing Aye and No vote: those voting Aye being Mayor Staudaher, Commissioner SediVY and Commissioner Morrow; those voting No, none. I 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 and 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. %Ol~ - L'-L - ATTEST: ~~fj~/ Clerk the 1ty ommisslon I ..~W'_..._. 383