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Home My WebLink About1962-12-11; City Council; Minutes.c 6 I' *, \, *8 'x 't *b i CITY OF CARLSEAD i Minutes of: I CITY CGUNCIL I ', \ \" ubi i Time of Meeting: ?:30 P. M. i of .$&),a &+ ,"""".""..""" : Place of Meeting: """"~""~""""--~"""--"""~-*"""~~"~""""-"---"--""" Council Chambers 1 Member *$?@&@ i itOtL CALL: 'Was answered by Councilmen Guevara, I I ihi; $1; I Bierce, McPherson and Hughes. Councilman Neiswenderj I* 19:;; ; 1 absent; Also present was City Manager Slater. t I ::;g* pv;; I ;:::; ! The City Clerk certified that five (5) bids had been receiv&i ; : : ;'I ;:'I: i for the $675,000 bonds designated "1962 Sewer Bonds i ; Series A", up to the hour of 7:30 P. M. 1::i; :1'11 : I I ;I:(: ! By motion of the Council the meeting was adjourned to ! Guevara ; ;x; xi : 1,::: i the City Ml administrative offices due to the Planning i Bierce k; ;x: i : Cammission meeting being scheduled for this hour. ; McPhersoni : ;xi : i i Xughes I : !x; i I i;la4 al:1: : This being the time and place fixed for the opening of bidsi i for $675,000 bonds designated "2962 Sewer Bonds, Seriesi :I:;; ::, : A", the following bids received pursuant to the notice of : 1 ;:;;; i sale were publicly opened, examined and read: :::i: I ; i: I-; ;: I Security Firsf National Bank and Associates, bid par, i :;::I : accrued interest to date of delivery, and a premium of : ; ; : :.i ::i:: : $1.00 for bonds bearing interest payable annay the firs4 i year and semiannuauy thereafter at tbe rates of: I;::: ::I:: I - itates Years * t :::I: 1:;:: f 4.50% 1965 to 1971 ': 11 )Si 1 t 3.00% 1972 to 1873 t ::: ::'I: I 3.5U% 1979 to 198% I:;:: I I:::; *I 4 John Nuveen & Co. * 5; eeden & Co., Paine, Vliebber, I ;;::I :ti!: :: 4 I I *, S8,'\,, '*, =,", 99, I \, '.,'*,, '\, 'b,", ; Date of Meeting:. December 11, 1962 (Reeguiar Adjourn&) Name ' '& ,,$,F.., '.$I. '.,'*a. ,, :%, I I I I:::: I I * I t I I :I1 I * 1 I i I f I I ' :'I b1 1 .- i I b I ::;:: I I I L I I 3*25% 1974 to I978 t I iii:: * 1 I 1 I I b I I * : Jackson & Curtis bid par, accrued interest to date of i i delivery, and a premium of $60.00 fur bonds bearing ; ;;:I: ,,::: i interest payable annually the first year and semiannually : ::':a ; thereafter at the rates of: : ::;:: 1:;: 6 I 8 ii::: I dates Years ? #:':; :;i:t I 3.7570 1965 to 1972 I 1': I 3.25% 1973 to 1977 I !::!; 1 I 3.50% 1978 to 1985 8 ;::+t I 3.60% 1986 to 1988 ? ;:*:: I I * b * I I I I * #I@ - I I I * i;;:; I I 1 I :4::: I;:;: 't 8 I I I * i Bank of America & Associates bid par, accrued interest tt) date of ; 3 I ; { : delivery, and a premium of $189.00 for bonds bearing inteest ix;; { payable annually the first year and seimiannually thereaft@ (-*I 1 at the rates of: I:::; :;::: I Rates Years I ::;:: t I i:;:: * 4.50% 1965 to I970 I 1:;;: 3.25% 1971 to 19?8 4 i::;; I 3.50% I 1 3.60% 1985 to 1988 :ii:i 1:;:: I i ::I'; 1:t I Schwabacher & Co., Inc. , Bank of Wifornia, Shelby i ::i;; I and a premium of $924.00 for bonds bearing interest payaele ::;:J I *' $ i* # f I * 4 * 6 I t '*#I4 1::'s :,,+I ! 4 t I I I 1 I I I 8 a I 1979 to I984 8 I : Cullom, Davis & Co. bid par, accrued interest to date of delivery '{I i annually the first year and semiannually themafter at the qates i;ii{ : Of: t t ;::;1 I Rates * ;::I! I;':: I 4.50% 1965 to 1971 11*:: I 3.25% 1972 to 1978 I .3.50% 1979 to 1983 , ; I :'I 1 3.60% 1984 to 1988 :*J:J 8 b I t Years I I - _I_ I t I I L I I I I I t i : ; :.; ::;:; ;:::; I I I I I I I I' I I 11' I" I 'I I :it:: ;I;11 i United California Bank, 3. 3. aanauer Co. ViagmW& i% ;:I:; ; Durst, hc. bid par, accrued interest tu date of deliver, aQd a l,; : " I/:; ;I::; i premium of $1. ,OO for bonds bearing interest payable annuqly :p:; ;I*# I I i I I 1 I ! I I 1::; 8). .e t I I *, s, ., 8 ' ' * I I I " , ' '\ '.,'s, ', ', '8 '\ \ ' y L 5 ', %.,'*., '.,"\'*. I I 6") ('I I I I I I -2- ! Ma me8'\, "8d& '8, '*& \ 8' I I I ; of '*.%$, '*\'%& I ',& 89 \ 9,',/t\p \ ;~""""""""""""""""-~"""~"""~"""""""---""""-;"-------""----"---- : Member $5&pf-$b2 I Bates t Years I I I '(1~1 8 I :::I: ::;:: I I I ::;:: I 4.50% 1965 to 1971 I ::;I: 1 3.00% 1971 to 1973 I hl;; ::18& 6 3.2545 1974 to 1971 t p::: li;: I I 3.40% 1978 to 1980 I :: :I1 I 3.50% 1981 to 1984 I ;:I!; I 3.70% 1985 to 1988 i ,:::: I f I t:j:: I' :: 4 Each bid was accompanied by a good.faith check in i ;i1 iii ; the amount not less than $5,000. I :: 4 I I ;I::: 1"; 8 All bids were then referred to rierman Zelles of i ; i I ;.I ;I,:: ::::: ; meeting. t I i:::: la!;l I ::h: ::: i was given as to the closing of the -ty offices, and the ; ;::it ': i - - I *. I I * I 1 i I t I * I a I I t I I i Stone & Houngberg for checking and computation, a re- i i port thereon to be given to the Council laker in this 1 ! Closing of City offices December 24, 1962.. Discussion i : availability of a skeleton crew in t& event of an emergen4y. Guevara ! i : d i i By motion of the Council it was agreed that the City office+ Bierce : !x! < I : be closed December 24, 1962, .and a skeleton crew appoiqt- McPhersdn: i 3 ; I led by the City Manager be available. i Hughes :x: : $ i I@' 1'1 * i Awarding af bid for sewer bonds. The committee appoint; lgI:8 ; ed tu check and compute the bids on the bonds for which : i bids were opened previously during this meeting reported: pi;f i is the bid yielding the lowest net interest cost: 1 I I ;:::: I 'I +::;: ;::;; ; that the bid of .Securi@ F'irst National Bank and Associatee It I1 ::::: I I :q:: ::I:: I 'After considering the various bids and the report thereon,: ;:I:; ::::I ! the following. resolution was presented for the Council's : ;::I: t ;::!: %:;I: 9 CITY OF CARLSBAD, CALIF OR NU^ :;::: i:::: I b * I I i consideration: I ;:;:: i Resolution No. 865. A. RmBLUTION OF THE CXTY : i am00 BONDS OF SAD CITY TO TiiE ; Guevara ; isti x! i ; BEST BIDDEB AND REJECTING ALL OTIKER BIDS, : Bierce !xi ; 4 i i was adopted by reading of title only and further reading i McPbrson: ; i X: ; ! waived. : Bughes i i .i $ i I :::I: i By proper motion the meeting was adjourned at 9:OO P. ,$,I '"1; I ::::I ll;l: : Respectfully submitted, 1 4 ;;$:; ;I::: I I 1 ;::;: ::;I' 81;: I I I:::: I I I ;:'I: t:* I Deputy City Clerk 1 I !;:;; I @I I 9 I :::;: I I I iiii; ::::; ::::; I I I ;i::i t I I 1';:; I I 1 I !!;Il I I I I iiiil I I I :!2;; ::;:; ::;:: (I::: ::::: ::::: ::;:; I I 8 ;:::: I 1 I 1:;:: I ::::: fpt: ;I:,, Y:;!@ 1 I I ;It;: s 1 I ;i:+: l1{h I 4 i I I I 1 1 * 4 + t * I I I , ,' . I .lb I I I I ,I._ 4 I I I I I I I 4 I 1 I I I I I I;@*; I I VI( )*t*I ,1*!1 ,*'I; I I J I I I 9 8 I 4 1 I I I t I $ I I I I 1 t I I I I I I I I I I I I I I 1 ;l,'l .;11:4 1 I I 4 I 1 1 I t I I I I I I I I !I,!!