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<br />COUNCIL CHAMBERS
<br />EUGENE, OREGON
<br />
<br />MAY 27, 1957
<br />
<br />THE REGULAR MEETING O~ THE COMMON COUNCIL O~ THE CITY O~ EUGENE WAS,HELO ON MAY 13, 1957
<br />AND ADJOURNED TO MAY 27, 1957 AT 7:30 PM IN'THE COUNCIL CHAMBERS. THE MEETING WAS CALLED TO
<br />ORDER BY HIS HONOR, MAYOR J~ J~MCGINTY, WITH THE FOLLOWING COUNCILMEN PRESENT: MR. WATSON,
<br />MR. SHEARER, MR~.SH~SLER, MR. EDMUNDS, MRS. LAURIS, MR. BRIGGS AND MR. LINDEEN.
<br />
<br />THE MI NUTES OF THE LAST REGULAR MEETI NG HELD ON MAY. 1'3, 1957 WERE READ AND APPROVED.
<br />
<br />THIS BEING'THE DATE SET rOR ~H~ AWARD:O~ CONTRACTS FOR VARIOUS IMPROVEMENT PROJECTS, THE
<br />~OLLOWING BIDS WERE ',TABULATED AS OPENED ON MAY 23, 1957 AT 10:00 AM: ,
<br />
<br />e
<br />
<br />WIDTH
<br />36 '
<br />
<br />NAME O~ BIDDER AND PROJECT
<br />ADAMS STREET ~ROM 26TH AVENUE
<br />(WHITNEY STREET)
<br />T. C. WILDISH
<br />STANTON PAYNE
<br />
<br />3-./2" ASPHALTIC
<br />CONCRETF; PAVING
<br />
<br />EST. COST
<br />PER FRONT
<br />FOOT
<br />
<br />PA V I NG
<br />
<br />TO 28TH AVENUE
<br />
<br />$ 10,012.00 (Low)
<br />10,588.15
<br />
<br />$ 6.45
<br />
<br />I
<br />
<br />36 '
<br />
<br />C,TY VIEW STREET F.ROM 18TH AVENUE TO 22ND AVENUE
<br />T. C. WI LD ISH
<br />STANTON PAYNE
<br />
<br />19,04B.45 (Low)
<br />19,219~31
<br />
<br />6.25
<br />
<br />34'
<br />&
<br />36 '
<br />
<br />POLK STREET ~ROM 18TH AVENUE TO 24TH AVENUE;
<br />TAYLOR STREET ~ROM POLK STREET TO POLK STREET;
<br />20TH AVENUE ~ROM TYLER STREET TO POLK STREET;
<br />22ND AVENUE ~ROM TYLER STREET TO POLK STREET
<br />T. C. WILDISH
<br />STANTON PAYNE :
<br />
<br />I'
<br />
<br />48,515.95 (Low)
<br />.49,485.75
<br />
<br />5.79 - 34'
<br />
<br />6. I I - ,36 'f
<br />
<br />42'
<br />
<br />18TH AVENUE WEST ~ROM PiERCE STREET TO CITY VIEW STREET
<br />T. C. W,LDISH
<br />STANTON PAYNE
<br />
<br />33,403.85 (Low)
<br />33,796.24
<br />
<br />I
<br />6.50 ~ 36'
<br />i
<br />
<br />TRUNK SEWER
<br />PEARL STREET TRUNK SEWER ~ROM 6TH AVENUE fo 28TH 'AVENUE
<br />T. C. WILDISH
<br />
<br />275;068'.20 '- PROPOSAL No~ 'I.
<br />351,9~IJ20 - PROPOSAL NO.2
<br />
<br />I
<br />
<br />IT WAS MOVED BY MR. WATSON SECONDED BY MR~ SHEARER THAT THE
<br />BIDDERS, AND THAT THE NECESSARY CONTRACTS ,BE DRAWN AND SIGNED.
<br />PRESENT VOTING AYE, -MOtl~NI~~RRIED~
<br />
<br />THIS BEING THE DATE SET ~OR THE AWARD O~ A $309,363.28 BANCRO~T IMPROVEMENT BOND, SERIES t1MtI,
<br />I SSUE, THE ~OLLO~I.N,G ,,~I DS.,W1ERE TAB':ILAT.ED AS. "QPEN,ED ,ON, MA"l', 2.7., ,1;957 AT I 0:00 AM:
<br />
<br />., -
<br />CONTRAC,TS BE AWARDED TO THE LO~
<br />ROLLCALL VOTE. ALL COUNCI LME~. "
<br />
<br />2
<br />
<br />100.07
<br />
<br />INTEREST RATE
<br />1958-59 - 6~
<br />1960-64 -3-3/4%
<br />1965-67 - 3-1/2%
<br />
<br />1958-62 -, 3-1/2% ' 65,629.79
<br />1963-67 - 3-3/4%
<br />PLUS ADDED INTEREST. ..
<br />O~ I~ ~ROM JUNE I,
<br />1957 TO JUNE 1,1958
<br />
<br />NET r""TEREST
<br />COST TO CI TV
<br />$ ,63,682.75
<br />
<br />E~nCTIVE
<br />INTEREST
<br />- RATE
<br />3.7364~
<br />
<br />BIDDER
<br />EUGENE MAIN BRANCH
<br />THE FIRST NATIONAL BANK
<br />or PORTLAND
<br />
<br />PURCHASE PRICE
<br />PER $100,
<br />PAR VALUE
<br />$ 100.07
<br />
<br />. :
<br />
<br />e
<br />
<br />BLYTH & COMPANY AND EUGENE,
<br />BRANCH O~ THE U.S.NATIONAL
<br />BANK O~ PORTLAND, (OREGON) "
<br />
<br />3.8506%
<br />
<br />NOTE: THE .~OLLOWING BID WAS ALSO RECEIVED BUT DOES NOT MEET THE ,REQUIREMENTS OF THE
<br />'BANCRO~T BONDI~G A~T, SINCE BID WAS NOT AT RAR OR BETTER.
<br />
<br />FOSTER AND MARSHALL
<br />
<br />98.05-
<br />
<br />1958-61 - 3-1/4% .
<br />1962-64 - 3-3/8%
<br />1,965-67 - 3-1/2~
<br />
<br />64,214.39-
<br />
<br />3.7676%
<br />
<br />I
<br />
<br />- D,SCOUNT SHOWN WAS $5,920.48 OR BID WOULD BE AT RATE O~ $98.086 PER $100.00 PAR
<br />VALUE. USING THIS NET I~TE~EST COST TO CITY ~OULD BE $64,102~21 OR E~~ECTIVE
<br />RATE OF" 3~761.~. .1
<br />
<br />IT WAS MOVED BY MR. EDMUNDS SECONDED-BY MR. WATSON THAT THE BONDS BE AWARDED TO EUGENE MAIN
<br />BRANCH, fiRST NATION~L BANK OF PORTLA~D, ON THE BID OF $100.07 PER $100.00 PAR VALUE FOR AN
<br />AVERAGE I NTEREST RATE. ,OF. 3.:7364%,.,. .ROLLCALL,VOTE.,ALL.,COUNCI LMEN PRESENT VOTING AYE, MOTION
<br />CARRIED.
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