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<br /> 10/14/68
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<br /> First National Bank of Oregon $ 2,387.00 1970-77 6.00 % $ 4,715,293.00 4.5274 % ,.
<br /> Ii 1978 5.25
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<br /> I: 1979-81 4.25
<br /> ;1 1982 4.30
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<br /> I, 1983 4.40
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<br /> ,; 1984-85 4.50
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<br /> i 1986-87 4.60
<br /> I, 1988 4.70
<br /> :1 1989-93 4.00
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<br /> Halsey, Stuart & Co. - 1970-76 6.00 % 4 ,721,065.00 4.53294
<br /> " 1977-78 4.10
<br /> 1979-80 4.20
<br /> I' 1981 4.30
<br /> ,I 1982-83 4.40
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<br /> I; 1984 4.45
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<br /> 1985 4.50 .
<br /> 1986 4.55
<br /> 1987 4.60
<br /> I 1988 4.65
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<br /> 1989 4.70.
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<br /> ,; 1990 4.75
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<br /> I. 1991-93 4.00 -
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<br /> , First National Bank of Chicago - 1970-76 6.00 % 4,740,190.00 4.55131 % .
<br /> I' 1977 4.90
<br /> 1978 4.15
<br /> ., 1979 4.20
<br /> 1980 4.25
<br /> 1981 4.30
<br /> " 1982 4.35
<br /> I 1983 4.40
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<br /> 1984 4.45
<br /> 1985 4.50
<br /> 1986 4.55
<br /> I 1987 4.60
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<br /> ,. 1988 4.65
<br /> j' 1989-90 4.70 .
<br /> , 1991-93 4.00
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<br /> I A memo from the Finance Director was read recommending awardrof bid to the low bidder, Continental
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<br /> Illinois National Bank andTrust Co. of Chicago~ at an effective interest rate of 4.45708%.
<br /> , Mr. Lassen moved seconded by Mrs. Lauris to award the sale of bonds as recommended. Rollcall vote.
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<br /> All councilmen present voting aye, motion carried.
<br /> 1 Delinquent ~ssessments - A memo from the Finance Director was~read concerning a fore-
<br /> closure sale scheduled' for November 14, 1968. There are 496 properties involved against
<br /> I. which there are 514 delinquent assessments ln the total amount of $406,653.60. e
<br /> 2 Airport Automobile Parking Proposals - Two written proposals were received for operation
<br /> and management of automobile parking at Mahlon Sweet Field. Diamond Parking Company
<br /> proposed a management fee of 14% of gross receipts, guaranteeing a total of $75,000 for
<br /> a nine-year period, and paying for the original installation of ?ecessary equipment. The
<br /> Airport Parking Company of America proposed a management fee of 22% of net receipts,
<br /> guaranteeing $10,000 annually :for 'ten years, with indication they would spend $75,000 ,~
<br /> for parking area expansion and improvements during the lease term. The Airport Commission
<br /> recommended acceptance of the APCOA proposal.
<br /> , Councilman Wingard asked who would decide. when expansion is required. The City Manager
<br /> said it would be a joint decision between the City and the Parking Company when the de-
<br /> mand is great enough t~ justify- expansion. Mike Griffin, representing APCOA, said ex-
<br /> pansion would not be done until the City indicated it is necessary and that a statement
<br /> to this effect could be included in the contract..
<br /> Councilman McDonald asked if all free parking at the terminal building would be eliminated,
<br /> and Mr. Griffin said it would.
<br /> Councilman Wingard asked what rates would be established. The Manager replied that APCOA
<br /> I: proposes a rate of 25~ for one hour, 10~ for each additional hour, and a maximum of $1.25 ~\
<br /> for 24 hours. No proposal was made for weekly or monthly rates.
<br /> \' Councilwoman Lauris asked how rates would be handled for those cars parking longeitf1an 4
<br /> .i 24 hours. Mr. Griffin explained that on cars which are parked behond the 24-hour limit
<br /> the rates would be the same as those initially charged - 25~ one hour, etc. The City
<br /> Manager said the management proposal fs:.'for-':a' 24-'hour 7-day week attendant, with a
<br /> resident operator, and a willingness to operate under a validation program. Fur th ermor e ,
<br /> the parking lot adjacent to the main lot would be set aside for parking for permanent
<br /> employes and others working at the airport.
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<br /> 10/14/68 - 2
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