HomeMy WebLinkAbout1957-08-02
1
1
1
Bozeman, Montana
August 2~ 1957
'>f}r:
,j a
Pursuant to due call and notice thereof~ a special meeting of the Ci~ Commission of the City of
Bozeman, Montana, was held at the City Hall in said City on the 2nd day of August, 1957, at 3:00
o'clock P. M.
The following Commissioners were present: Mayor Swanson, Commissioner Erwin and Commissioner Lowe.
and the following were absent: none. Also present were City Menager Henderson. Administrative
Assistent Sales, City Attorney Lovelace and the Clerk. The following proceedings were had:
The Clerk of the Commission presented affidavits showing publication of notice of sale of $1,200,000
Water System Revenue Bonds~ Series A of the City, sealed and oral bids for which were to be received at
this time and place~ as directed by the Commission on July lOth, 1957. Said affidavits were examined
and found satisfactory and directed to be placed on file in the office of the Clerk.
The Mayor then announced that the Commission was prepared to receive bids for the purchase of said
bonds, whereupon the following bidders qualified by depositing security for their bids as set forth in
the notice of sale, and presented their proposals in terms of dollar net interest cost to the City. After
all bidding had ceased, the most favorable proposal of each bidder was found to be as follows:
Name and Address of Bidder
or
Manager of Bidding Account
Halsey Stuart & Company & Associates
Net Interest Cost
$l,092,000.00
John Nuveen & Company & Associates
1,092,100.00
Piper, Jaffray & Hopwood & Associates
1,099,000.00
The most favorable bid having be~n ascertained to be that of Halsey Stuart & Company & Associates,
of Chicago, Illinois, and the associates named therein, said bidder thereupon submitted a proposal
setting forth coupon rates for the respeotive bonds and the premium to be paid therefor. Said proposal
was examined and found to be satisfactory and to result in the net interest cost specified in the bid.
Resolution No. 858 was then presented~ entitled
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOZEMAN, MONTANA, AWARDING THE SALE
OF; $1,200,000 WATER SYSTEM REVENUE BONDS,
SERIES A
It was moved by Commissioner Lowe, seconded by Commissioner Erwin~ that this resolution be approved
and adopted. and the motion was carried by the following Aye and No vote: those voting Aye being
Commissioner Lowe~ Commissioner Erwin and Mayor Swanson; those voting No, none. The Mayor and the Clerk
of the City Commission~ being present~ each affixed his signature to the resolution~ and the Clerk of
the City Commission was direoted to have it recorded in oomplete detail in the Book of Resolutions kept
as a pennanent and official reoord by the City of Bozeman.
Ordinance No. 800 was then presented, entitled
AN ORDINANCE RELATING TO THE RECONSTRUCTION,
IMPROV'F.14ENT, BETTERMENT AND EXT:JmSION OF THE
WATER SYSTEM OF THE CITY OF BOZEMAN, PRESCRIB-
ING RATES, CHARGES .AND HEN TAtS FOR THE USE OF
THE FACILITIES THEREOF ANDroR CONNECTIONS
THEREWITH, CREATING SPECIAL FUNDS AND ACCOUNTS
FOR THE ADMINISTRATION OF THE MONEYS DERIVED
THEREFROM, AUTHORIZING AND DIRECTIIIlG TEE IS-
SUANCE AND SALE OF' REVENUE BONDS TO PAY THE
COST OF' SAID UNDERTAKING, AND DEF'INING THE TERMS
ABD MANNER OF PAYMENT OF' mE BONDS AND THE
SEe DR ITY TIIEREO F.
It was moved by Commissioner Erwin~ seconded by Commissioner Lowe, that said ordinance be approved
and adopted without being laid over for second reading, and said motion was carried by not less than a
two-thirds vote of the members of the Commission as followsl those voting Aye being Mayor Swanson~
Commissioner Erwin and Commissioner Lowe; those voting No~ None. The Mayor and the Clerk of the
Commission. being present~ each affixed his signature to the ordinance, and the Clerk of the Commission
... ..;;;>~, t~:~=~:i' /'~L
{'..--<-/ , " ~}._~.,.. :.'._ ;, ...:::,:.'." r._ .'i....L , f.
Mayor
1
:~n{)
was directed to have it recorded in complete detail in the Book of Ordinances kept as a permanent
and offioial record by the City of Bozeman.
Adjourmnent
There being no further business to come before the Commission at this time, it was moved by
Commissioner Lowe, seconded by Commissioner Erwin, that the meeting adjourn and the motion carried
by the following Aye and No vote: those voting Aye being Mayor Swanson, Commissioner Erwin and
Commissioner Lowe; those voting No, none.
Attesta
iC~~
1
1