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<br />~ <br /> <br />lOR <br /> <br />:I <br /> <br />-~ <br /> <br />COUNCIL CHAMBERS, <br />EUGE NE, ORE GON. <br />FEBRUARY 27, 1950. <br /> <br />THE REGULAR MEETING OF THE COMMON COUNCIL OF THE CITY OF EUGENE WAS HELD ON FEBRUARY 27, 1950 <br />AT 7:30 P.M. THE MEETING WAS CALLED TO ORDER BY MAYOR V. E. JOHNSON. COUNCILMEN PRESENT WERE: <br />HAWN. DAVIS, CRUMBAKER, ALLEN, BOOTH, GODLOVE AND SMITH.' COUNCI LMAN WELLS VIAS ABSENT. <br /> <br />THE MINUTES OF THE LAST REGULAR MEETING HELD JANUARY 9, 23, 24TH, FEBRUARY 15TH AND 21ST <br />WERE READ AND APPROVED. <br /> <br />THE SECOND AND FINAL MONTHLY PAYMENT ESTIMATE TO F. W. RIDDLE FOR THE INSTALLATION OF A <br />SANITARY SEWER ON VAN NESS fROM 24TH TO REED AND 24TH AVENUE FROM CHULA VISTA TO VAN NESS IN THE <br />AMOUNT OF $545.58 WAS SUBMITTED. <br /> <br />IT WAS MOVED BY HAWN, SECONDED BY DAVIS THAT THE ESTIMATE AS CERTIFIED BY W. C. CLUBB, CITY <br />ENGINEER, AND THE CONTRACTOR BE APPROVED AND THE PROPER CITY OFFICERS AUTHORIZED TO ISSUE A. <br />WARRANT IN PAYMENT OF THE SAME. ROLLCALL VOTE. MOTION CARRIED. <br /> <br />2 <br /> <br />THIS BEING THE DATE SET FOR THE OPENING AND CONSIDERATION OF BIDS ON THE SALE OF $1,000,000 <br />EUGENE WATER & ELECTRIC BOARD BONDS, THE CITY RECORDER REPORTED THE RECEIPT OF FIVE BIDS. <br /> <br />I <br /> <br />UPON MOTION MADE BY HAWN, SECONDED BY CRUMBAKER THE RECORDER WAS INSTRUCTED TO READ THE BIOS <br />WHICH WERE OUTLINED AS FOLLOWS: <br /> <br />BID DE R <br /> <br />PURCHASE PRICE PER <br />$100 OF PAR VALUE <br /> <br />INTEREST RATE <br /> <br />NET INTEREST <br />COST TO CITY <br /> <br />EFFECTIVE <br />INT. RATE <br /> <br />BLYTH & CO. & OTHERS <br /> <br />$ <br /> <br />99.54 <br /> <br />BONDS DUE 1951-55 - 4% $ 187,100.00 <br />II II 1956-60 - 1*% <br />II II 1961-65 - li% <br />II II 1966-70 - 1 - 3/4% <br /> <br />I . 78 1 9% <br /> <br />FIRST NATIONAL BAN K <br />OF Eu GENE & OTHERS $ 99.569 BONDS DUE 1951-54 - 5% $ 1 87 , I 85. 00 I .782% <br /> II II 1955-56 - 1% <br /> II II 1957-60 - 1*% <br /> " " 1961-63 - It% <br /> II II 1964-70 - 1-3/4% <br /> <br /> FOSTER & MARSHALL <br /> AND OTHERS $ 99.5615 BONOS DUE 1951-54 - 4% $ I 88, I 50.00 1.7953% <br /> II II I 1*% <br /> 1955-60 - <br /> II II 1961-63 - It% <br /> II II 1964-68 1-3/4% <br /> II " 1969-70 - 2% <br /> FORDYCE & Co. & o THE R S $ 98.09 BOND S DUE 1951-55 - 1-3/4% $ 194,975.00 I .8569% <br /> II II 1956-62 - It% <br />I II II 1963-70 - 1-3/4% <br />PACIFIC NORTHWEST CO. <br /> AND OTHERS 3 100.003 BONDS DUE 1951-54 - 4% 3 202,470.00 1.926% <br /> II II 1955-60 - It% <br /> " II 1961-64 - I - 3 /4% <br /> II II 1965-70 - 2% <br /> A COMMUNICATION fROM THE EUGENE WATER & ELECTRIC Bo A R 0 PERTAINING TO THE BIDS WAS SUBMITTED <br /> AND READ AS FOLLOWS: <br /> <br />liTHE UNDERSIGNED, ON BEHALf Of THE EUGENE WATER & ELECTRIC BOARD, RECOMMEND YOUR <br />ACCEPTANCE Of THE LOW BID WHICH WAS SUBMITTED BY ROBERT HALL FOR BLYTH AND COMPANY AND <br />ASSOCIATES. WE UNDERSTAND THEY AGREE TO PAY A PRICE OF 399.54 PER $100.00 PAR VALUE. <br />THE TOTAL INTEREST PLUS DISCOUNT TO THE CITY AMOUNTING TO $187,100.00 FOR AN EFFECTIVE <br />RATE OF 1.7819%. ON THE ABOVE BASIS THE CITY OF EUGENE WILL RECEIVE 3999,540.00 FOR <br />$1,000,000.00 IN BONOS. THIS OFFICE HAS CHECKED THE NET INTEREST AND EFFECTIVE INTEREST <br />RATE AND WE BELIEVE THEM TO BE CORRECT AND THE LOWEST BID." <br /> <br />FOLLOWING AN EXAMINATION Of THE BIDS IT WAS MOVED BY HAWN, SECONDED BY CRUMBAKER THAT THE <br />BONDS BE AWARDED TO BLYTH AND COMPANY AND ASSOCIATES ON THE BID OF 99.54 FOR EACH $100.00 Of <br />PAR VALUE AT A NET INTEREST COST TO THE CITY OF $187,100 FOR AN EFfECTIVE INTEREST RATE Of <br />1.7819% AND THAT THE CERTIFIED CHECKS SUBMITTED WITH THE OTHER BI DS BE RETURNED. ROLLCALL <br />VOTE. ALL COUNCILMEN PRESENT VOTING AYE. MOTION CARRIED. <br /> <br />3. <br /> <br />THIS BEING THE DATE SET FOR CONSIDERATION OF BIDS FQR ENGINE LUBRICATING OIL, THE CITY <br />MANAGER REPORTED THE RECEIPT OF NINE BIDS ON FEBRUARY IO~ 1950 AT 10:00 A.M. THAT WERE TABULATED <br />AS FOLLOWS: <br /> <br />I <br /> <br /> <br />~ ;..i2>'::';'.,..;i);'.~.II:" ,;.~~_., '"'_~-'--'~'.. -;;"::'_.".:."-".,,,,,ti~'!1~_..""-,",,i..>..;.:,,,,,,,", '"'"'~'..F.;..__,_....~.,._.. '."".2.:"_'_~__'-: <br /> <br />......c_.,.~~ <br />