HomeMy WebLinkAbout1960-10-11
:~20
SPECIAL MEETING
Bozeman, Montana I
October 11, 1960
The Commission of the City of Bozeman met in Special Session in the
Commission Room, City Hall Building, Tuesday, October 11th, 1960 at 1:30
o'clock P.M. Present were Mayor Swanson, Commissioner Staudaner, Commis-
sioner Sedivy, City Manager Cutting, Assft. City Manager Fryslie, Director
of Finance Shadoan, City Attorney Lovelace and the Clerk
Sale of Bonds -- Special Improvement District No. 418
The stated purpose of the meeting was to conduct the sale of bonds of
Spec1al Improvement District No. 418. The affidavit of publication of notice
of sale of the bonds was presented.
The following bidders were present: .
BIDDER R E PRE S E N TIN G
------ ...........-....----------
R. I. Diefenderfer Himself
Charles McIntyre National Securities
E. P. R. Erckenbrack Grande & Co. I
Each bidder qualified by depositing the necessary bid security with the
Clerk of the City Commission. It was moved by Commissioner Staudaher, seconded
by Commissioner Sedivy, that the Commission proceed with the sale of the bonds
of Special Improvement District No. 418 in the amount of $250,000.00 and the
motion was carried by the following Aye and No vote: those voting Aye being
Mayor Swanson, Commissioner Staudaher and Commissioner SediVY; those voting
No, none.
The lowest bid of each bidder was as follows:
BIDDER INTEREST RATE
...--.......--~
E. P. R. Erckenbrack 4.95%
Charles McIntyre 5.00% ($805.uO Premium)
R. I. Diefenderfer 6.00%
Following the recommendation of the Director of Finance, concurred in
by the City Manager, it was moved by Commissioner sedivy, seconded by CommiS-
sioner Staudaher, that the bid of E. P. R. Erckenbrack being the lowest and
best bid that the sale of the bonds be awarded to Grande & Co., Seattle,
Wa sh ing ton. The motion was carried by the following Aye and No vote: those I
voting Aye being Mayor Swanson, Commissioner Sedivy and Commissioner
Staudaher; those voting No, none.
Adjournment
There being no further business to come before the Commission at this
time, it was moved by Commissioner SediVY, seconded by Commissioner Staudaher,
that the meeting adjourn. The motion was carried by the following Aye and No
vote: those voting Aye being Mayor Swanson, vommissioner Sedivy and CommiS-
sioner Staudaher; those voting No, none.
~, /1 U~0vl Ma yor
Attes t:
Clerk of the vommission