HomeMy WebLinkAboutUntitledMinutes - City Council - 1957-10-09 °��'�
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City Council, Adjourned Meeting
Council Chambers, City Hall
. , Redding, California
. October 9, 1957 7:00 P, M�
There being no quorum present at 7:00 P, Mo , M�,yor Fleharty adjourned �
the meeting of Councilmen and City Plannin� Commissianers to the City
Manager�s office for informal discussion of the Master Land Use Plan,
City Planning Commissioners present: Kriegsman, Eastlund, Doherty and
Thies, Secretary of the Planning Commission Evans and H, Pritc�rard of
the firm of Hahn, Wise and Barber, were also present.
Council Chambers 8:00 P. Ma
The meeting was called to �rder by Mayor Fleharty with the followin�
councilmen present: Fulkerth, Kelly, Sim�ns and Flehartym
City Ma.nager Cowden, City Att�rney Cibula, A.ssistant City-Attflrney-
Manager Ness, Director of Public Works Marron and Mro Ed Wells, Jr, ,
representing the firm of Stone and Youngberg, were also present.
OPENING & AWARD OF BID - City of Redding 1957 Sewer Bonds �� �
The hour of 8:00 P. M, having arrivecl, the Mayor directed the City Clerk
- to open and read bids received from the following firms bidding on the 1957
Sewer Bonds - City of Redding:
American Trust Company .
, San Francisco, Calif. .
Bank of America
- San Fraricisco, Calif.
Blyth and Co. , Ince �w,
5an Francisco, Calif.
All bids were analyzed by Mr. Wells and he reported to councilrnen the,follow-
ing figures: �
Bank of America 3; 68%
Blyth and C�. , Inc. 3, b9%o
American Trust Co: 3. 756�/0 '
MOTION: Made by Councilman Kelly, �econded by Councilman Simons that
Resolution No. 2255 be adopted, a. resolution selling City of Redding 1957 Sewer
Bonds to the Bank of America,
Voting was as fallows:
Ayes: Councilmen - Fulkerth, Kelly, Simons and Fleharty �
Noe s: C�uncilmen - None �
Absent: Councilmen - Puryear
RESOLUTION,No. Z255
SELLING CITY OF REDDING 1957 SEWER BONDS
WHEREA5, the City Council of tr�e City of Redding, Shasta County,
State of California, heretofore duly authorized the issuance of $650, 000
principal amount of bonds to be known as "City of Reddin� 1957 Sewer ,
Bonds", all dated November 1, 1957, and further duly authorized the sale
of said bonds at public sale to the highest bidder therefor; and
WHEREAS, notice of the sale of said bonds has been duly given in:
the manner prescribed by said resolution and the following bids for said
bonds were and are the only bids received by said City Council, to wit:
�����
- Name of Bidder ' Net Interest Cost
to City
Bank of America
National Trust & Savings- Ass'n. 3. 68%
Blyth & Co. ; Inc, 3. 69%
American Trust Co. 3. 756°�/0
AND WHEREAS, said b;id of BANK OF AM=ERICA is the high�est
bid for said bonds, considering the interest rate (s) specified and the ��
premium offered, ; � -
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of -Redding as follows: � � - _ - -
1, 5aid l�id of BANK OF AMERICA for $650,�000 par value�of s`aid
bonds shall be and i� her_eby accepted arid the Treasurer of the City of
Redding is hereby authorized and directed to deliver said bonds to said
purchaser thereof=upon payment to said Treasurer of the purchase price,
to wit: said par value thereof and a premium of $111. 00 together with _
accrued interest at the following rate (s): ^ -
, _ : < < =- � = -
Bond Numbers Interest Rate
� _(inclusive) - , - per �lnnum
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1 to 110 � _ = 5 % � - �
1 11 to 130 4 3/4%
131 to.445 _ - 3 1/2°fo
446 to 650 � 3. 70%
Said }�onds shall bear interest at said rate(s) �hereinabove set forth, pay-
able November 1, 1958, and thereafter semi-annually on May 1 and Nov-
ember 1 of each year.
2. That all bids except the bid of BANK OF AMERICA are hereby
rejected and the City Clerk is hereby ordered and directed to return to
the unsuccessful bidders their several checks accompanying their respect-
ive bids. . �
3. The Clerk of the City of Redding is directed to cause to be
lithographed, printed or engraved a sufficient number of blank bonds and
coupons of suitable quality, said bflnds and coupons to show on their face that
the same bear interest at the rate (s) af�resaid.
RESOLVED, FURTHER, that this resolution shall take effect from
and after its passage and approval. '
PASS'ED AND ADO,�'TED this 9th day of October 1957, by the following
vote: . . , .
Ayes: Councilmen Fulkerth, Kelly, Simons and Fleharty
Nfles: None
Absent: , Puryear
/ GEORGE C, FLEHAR.TY
Mayor of the City of Redding
Attest:
/ Dorothy C. Blood � ; �
City Clerk flf the City of Redding
Resolution No. 2255 on file in the office of the City Clerko
APPROVAL OF C LAIMS
MOTION: Made by Councilman Simons, seconded by Councilman Kelly that
claims in the amount of $2, 479. 30 be approved and paid, Warrant register.
/ No. 8, warrant Nos. 941�to 958 inclusive.
/ � � Voting was as follows:
Ayes: Councilmen - Fulkerth, Kelly, Simons and Fleharty
Noes: Councilmen - None
Absent: Councilmen - Puryear
9
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PROCLAMATION �
� MOTION: Made by Councilman 5imons, seconded by Councilman Fulkerth %5 g
that Mayor be authorized to sign Proclamation declaring Thursday, October
31st, 1957 �s Youth Honor Day. The Vote: Unanimous Ayes.
. RE MASTER PUBLIC BLDGS, Pi,AN ` ' `
A communication addressed to the Mayor and City Council, dated Oct; 9th
from Sig Kriegsman, Jr. , Chairman of the City Planning Commission, in- '`s
vited them to attend a joint dinner meeiing to be held Wednesday, October �7
23rd 6:30 P. M. at Ricardo's for an informal discussion of the collective and
individual thinking in regard to the Commissi�n's formulatiori of the Master
Public Buildings Plan.
There being no further business, it was moved by Councilman Fulkerth,
seconded by Councilman Kelly the meeting be adjourned• Motion carried.,
A1 PROVED: /
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�Mayor vv
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Atte st: � • � � • �
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City Clerk
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