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<br />BI DOER -
<br />
<br />PURCHASE PRICE ,PER
<br />$100 OF PAR VALUE INTEREST RATE
<br />
<br />NET ,I NTER~ST .
<br />COST- To CI. TV
<br />
<br />EFnCTI VE
<br />I NT. RATE
<br />
<br />KALMAN & COMPANY
<br />
<br />,PAR: $100 PLUS $67. BONDS DUE 1956-65 - 2%
<br />FOR WHOLE ISSUE
<br />
<br />$ 7,079. 1 6 · 2.. I 793%' ·
<br />(ALSO CITY TO ~URNISH lEGAL
<br />OPINION)
<br />
<br />, ." (
<br /># FIRST NATIONAL BANK BID INDICATED NET INTEREST COST OF $6,561.34 WHICH WAS NOT CORRECT. NET
<br />INTEREST COST SHOWN ABOVE HAS BEEN VERIFIED.
<br />
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<br />
<br />· KALMAN AND COMPANY' INDICATEDINtT INTEREST COST OF $5,646.17 WITH EFFECTIVE RATE OF'2,i7~~0~529,
<br />WHICH IS.INCORR~~T~ COMPUT~TION OF THE ISSUE BASED ON THE COUPON RATE BID IS AS SHOWN IN THE
<br />TABLE.
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<br />!,OLLOWI NG AN E~AM'!'NATI ON OF THE BIDS, I T WAS MOVED BY MR. BOOTH, SECONDED BY MR. GODLOVE
<br />THAT THE BONOS BE AWARDED TO T~E FIRST NATION~L BANK OF PORTLAND, EUGENE BRANCH, ON THE BID OF
<br />$100.00 PER $100.00 ,OF F~CE VALUE AND AT INTE~EST ,RATES O~ 6% FOR. 1956-57 MATURITIES; ~~~/2_
<br />FOR 1958-60 MATU~ITIE$; 1-3/4% FOR 1961-63 MATURITl:ES; AND 2% FOR ,1964-65 MATURITIES, ,FOR AN
<br />A~ERA'E I~T~REST RATE OF 1.99_. ROLLCALL VOT~. MOTION CARRIED.
<br />
<br />REPORTS. OF OFF I CERS
<br />
<br />4.A REPORT FROM TH~CITY MANAGER - RE: MONTHLY REPORTS, IMPROVEMENTS, ET CETERA.WAS SUBMITTED
<br />AND READ AS FOLLOWS:
<br />
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<br />
<br />"THE BUILDING PERMITS FOR THE MONTH OF APRIL AMOUNTED TO $218,505.00 FOR NEW BUILDINGS
<br />AND $147,467.00 .fOR BUILDING REPAIRS, MAKING A TOTAL OF $365,972.00 WHICH IS APPROXIMATELY
<br />$1 ,ooq.oo .lESS- THAN THE $470, I 23.00 I SSUED THE SAME MONTH A YEAR AGO.
<br />
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<br />DURING APRll,THE FLRE DEPARTMENT ANSWERED 42 ALARMS IN THE CITY AND FOUR RURAL ~ALLS.
<br />THE TOTAL ESTIMATED LOSS AMOUNTED TO $8,104.63. OF THIS LOSS, THE ,LAURElWOOD GOLF COURSE
<br />FIRE ACCOUNTED FOR THE MAJOR PORTION, WHICH WAS ESTIMATED AT $8,000.00. DURING THE
<br />MONTH, A 1,0QQ..G.P.M. TURRET NOZZLE WAS I NSJALLED ON ENGI:NE No. 16, THE APPROACHES TO THE
<br />EAST SIDE FIRE SUB-STATION;WERE CONCRETED, THE MAIN OFFICE RECREATION ROOM AND HALLWAY
<br />WERE PAINTED, AND AFIRE PREVENTION BOOTH WAS MAINTAINED AND THE'RESCUE CAR EXHIBITED AT
<br />THE LION'S CLUB HOME SHOW.
<br />
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<br />
<br />THE POLl CE .DEPARTMENT REPORTS -A MARKED I MPROVEMENT I N THE CRI ME PI CTURE FROM THE I R
<br />REPORT FOR THE. MONTH OF MARCH. . A COpy OF THE I R REPORT I S ON YOUR DESK. A COURSE WAS
<br />GIVEN TOl2 OFFICERS IN THE OREGON MOTOR VEHICLE CODE. THIS WAS A SERIES OF CLASSROOM
<br />LECTURES COVERING A PERIOD OF 18 HOURS INSTRUCTION. THE ADVANCED REGIONAL SCHOOLS
<br />HAN~LED.B~' THE LEAGUE OF O~EGON,CITIES ~NO THEQREGON ASSOCIATION OF CITY POLICE OFfiCERS
<br />WAS COMPLETED IN APRIL. T~ERE WAS AN AVERAGE OF 31 OFFICERS I,N ATTENDANCE AT EACH OF
<br />~HESE'CLASSES. , '
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<br /><'II.'
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<br />~LL\SERGEANTS, DETECTI.VES AND PATROLMEN WER~ GIVEN COMPREHENSIVE WRITTEN ~XAMINATIONS
<br />ON VARIOUS PHASES ,OF LAW E~FORCEMENT WITH VERY CREDITABLE GRADES FOR THE MOST PART._
<br />SHIFT SERGEANTS W~LL BE GIVEN SPECIAL EXAMINATIONS DURING THE FORTHCOMING MONTH.
<br />
<br />,ON' EACH OF. 'YOUR DESKS, I .HAVE 'PLACED A REPORT FRQM. THE .TRAFF I C ENGI NEERCONCERNI NG
<br />tHE REMOVAL "or. P~RKI NG ON 6TH AND 7TH AVENUES FROM BlAI R .TO HI GH STREET.S. THE PUBLI C-
<br />", SAFETY,. COMMI-TTEE HAS THI.S REPORT UNDERSTUDY,' AN.D WE' ARE INV I TI NG COMMENTS' FROM ALL
<br />COU~CILMEN ON EI THER OF' THE TWO P.ROPOSA.LS OUTLI NED I N THE REPORT.,
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<br />THE ~EGIONAL MEETING OF THE LEAGUE or OREGON CITIES FOR LANE COUNTY WILL BE HEL~
<br />At THE OS,BURN HOTEL ,AT 6:30 P.M. ON TUESDAY, -MAY 17, 1955. .ALL MEMBERS: 'OF THE ..COUNC.I.,L
<br />ARE URGED TO BE PRESEN'T, IF POSS I BLE:.
<br />
<br />THE MAYOR ORDERED, IN THE ABSENCE OF OBJECTIONS, THAT THE REPORT BE RECEIVED AND PLACED
<br />ON FI LE.
<br />
<br />REPORTS OF COMMITTEES
<br />
<br />5 ~ REPOR~ OF THE PUBLIC SAFETY COMMITT~E MEETING HELD APRIL 27, 1955 - RE: CROSSWALKS ON
<br />13TH AVENUE; LEFT TURN,LANES; TRAFFIC HAZARD ON OVERHEAD STRUCTURE AT JUDKIN!?POINT; REPORT ON
<br />OPERATION OF SIGNALS ~T BROADWAY AND WILLAMETTE} REGULATION OF'TRAFFIC ON 6TH AND ~TH; AND
<br />LIQUOR, LICENSE APPLICATIONS WAS SUBMI.TTEl? AND READ AS FOLLOWS:
<br />
<br />"PRESENT: 'COUNC I LME N GODLOVE, WATSON AND HARTMAN; C I TV MANAGER) TRAFF I C ENGI NEER;
<br />AND THE CITY RECOkDER.
<br />
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<br />
<br />.. A NUM~ER Ot:' MATTERS WE~RE DISCUSSED AT THIS MEETING OF "THE PUBLIC SAFETY COMMITTEE.
<br />THE MAIN ITEMS OF DISCUSSION..INVOLVED STREET TRAFFIC SAFETY MATTERS. THE ITEMS OF BUSINESS
<br />CONSI DERED AND THE RECOMMENDATIONS MADE .WERE AS F:OLLQWS:.
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