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<br />Council Chambers, Eugene, Oregon.
<br />June 3, 19;::9.
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<br />Council met pursuant to adjournement Of May 27th. There were present
<br />the IVJ.ayor, and all members of the Council except Washburne, and Monroe.
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<br />At this time bids were called for the sale and purchase 01' $400,000.00
<br />Interim Power & Light Bonds of the City of Eugene, Oregon, and the fol+owing
<br />bi d be ing the only bid recei ved, was opened and read, as follows:
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<br />For ~400,000 legally issued general obligation Interim Power
<br />and Ligh t bonds 01' the (Jity 01' Eugene, Oregon, to be dated as
<br />soon as legally possible, matu~ing five years from date but
<br />optional on 3!J.y interest date on and after two years from date,
<br />in denominations of ~500 and or $1000 each, bearing interest
<br />at the rate of 5tio per annum, both principal and semi-annual
<br />interest payable at the office 01' the City Treasurer, Eugene,
<br />Oregon, or at the Fiscal Agency of tbe ;;>tate 01' Oregon in New
<br />York City, we will pay you at the rate of $95.00 for each $100
<br />in bonds and, in adClition thereto, accrued interest to date
<br />of delivery 01' said borAs to us.
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<br />We attach hereto our certified check for ~8000.00 same to be
<br />held by you and applied as part P33ment on the, bonds if awarded
<br />to us; otherwise, to be returned upon demand.
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<br />Tt is agreed and und.er stoOd. that bel'ore taking up and paying
<br />for said bonds, you are to l'urnish us with the final approving
<br />opinion Of Messrs. Teal, winfree, McCulloch & Shuler certifying
<br />as to the legality or the above ~escribed bonds; and if for
<br />any reason the same is not forthdoming, the attached check is
<br />to be returned to us immediately.
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<br />It is also agreed tha t the (J ity of' Eugene will not offer ror
<br />sale any addi ti onal Power an d Light Bonds unti 1 after ;:)ep tember
<br />~, 19i:::9.
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<br />Respectrully submitted,
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<br />FREE]MN, ~MITH & CAMP GO
<br />~'EHHI::> & HARDGROVE
<br />BLYTH & CO
<br />GEO. H. BURR, CONRAD & BROOM, INC.
<br />PIERCE FAIR & CO
<br />By, R. H. Martin.
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<br />All members of the Eugene Water Board being present, the bid was
<br />refer red to sa id Wa te r Board f or the ir cons i dera ti on, before ac ti on by the
<br />Council. The Water Board retirped, and later reported bac]c to the Council,
<br />their approval or the bid, and recommendation that the Council award the
<br />same 01' the bonds in accordance wi th such bid.
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<br />Councilman Large,. Chail~man of the Fin..qnce Committee, moved that the
<br />Council 1'in<<1s and determines that thejloint bid. or Freeman, Smith & Co;
<br />Ferris & Hardgrove; Blyth & Co; Geo. H. Burr, Conrad & Broom, Ine; and
<br />Pierce Fair & Co, by R. H. Martin, is the only bid. received for the purchase
<br />of said $400,000 Interim Power & Light Bonds,and that said bid is a fair
<br />and reasonable price to be paid for said bonds, Gl.nd that the Council award
<br />the sale 01' said bonds to said bidders, in accordance with their bid, and.
<br />that the 1~yor and Recorder be instructed to sign the acceptance of bid.
<br />The Motion was seconded, and the aye.s 3!J.d nays calle,d, all present voting
<br />aye, nay, none; absent and. not voting, Washburne and Monroe. Motion declared
<br />dul'y- a<1opted..
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<br />The Paciric Telephone & Telegraph Co. presented a formal request to
<br />cutl.the paVing, and open an 18 inch trench for' the pUl"pose of placing under-
<br />ground telephone C ondu,i t on the North side 01' l.o,th Avenue East commenc ing at
<br />the East side 01' the alley between High and Mill Streets, and cutting the
<br />pavement to the East side 01' the alley between Agate and Columbia Streets;
<br />also to force pipes under, or cut the pavement for the placing or laterals,
<br />and said. company also submitted a plan showing the location of the proposed
<br />improvement, offering a bond in the sum or $i:::000.00 to guarantee to the City
<br />the satisfactory replacement 01: the paving. It appearing that the bond has
<br />been submitted to the executive ot't'ice ot' said. company 1'or execution, and
<br />that the company desires to proceed at once with the work, and that the bond
<br />will be per1'e<1ted and posted wi th the City within the next 10 days, a motion
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