06/11/1951 Meeting - Laserfiche WebLink

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:I I I II Ii I II 'I I, II II II II I: II I' il Ii ;i 4 II II II I, I I n I II Ii " I II II ~ 48,~ 5 I I ~'" ..l.~"~, -'--,'-- -,--..-..- ~'- -~, -..__..-'_.^~. -- .._..~..... ~-- .- 1 PURCHASE PRICE INTEREST NET INTEREST EFFECTIVE BIDDER PER $100 PAR VALUE RATE COST TO CITY INTEREST RATE BLYTH & COMPANY & U.S. I NATIONAL BANK OF PORT- 1952-56 2.25% I LAND, EUGENE BRANCH 100.01 1957-61 2.00% 15,766.68 2.0649 % FIRST NATIONAL BANK I 1952-55 2.50% OF EUGENE, OREGON 100.01 1956-61 2.25% 17,50 I .05, 2.292 % COST OF LEGAL OPINION TO BE BORNE BY BIDDER. FOLLOWING AN EXAMINATION OF THE BIDS, IT WAS MOVED BY CRUMBAKER, SECONDED BY GODLOVE THAT THE BONDS BE AWARDED TO BLYTH & COMPANY AND U. S. NATIONAL BANK ON THE BID OF 2.0649% AND THAT THE CERTIFIED CHECKS SUBMITTED WITH THE OTHER BIDS BE RETURNED. ROLLCALL VOTE. MOTION CARRIED. THIS BEING THE DATE SET FOR THE OPENING AND CONSIDERATION OF BIDS ON THE SALE OF $125,000 SEWAGE AND DRAINAGE BONDS (AMAZON), THE CITY RECORDER REPORTED THE RECEIPT OF TWO BIDS. UPON MOTION MADE BY CRUMBAKER, SECONDED BY GODLOVE THE RECORDER WAS INSTRUCTED TO READ THE BIDS WHICH WERE OUTLINED AS FOLLOWS: BIDDER PURCHASE PRICE PER $100 PAR VALUE EFFECTIVE INTEREST RATE I N,TEREST RATE NET INTEREST COST TO CITY BLYTH & COMPANY & U.S. NATIONAL BANK OF PORT- LAND, EUGENE BRANCH 98.56 2.00% 24,100.00 2.161 % FIRST NATIONAL BANK OF EUGENE, OREGON 98.4309 COST OF LEGAL OPINION TO BE BORNE BY BIDDER. FOLLOWING AN EXAMINATION OF THE BIDS, IT WAS MOVED BY CRUMBAKER, SECONDED BY GODLOVE THAT THE BONDS BE AWARDED TO BLYTH & COMPANY AND U. S. NATIONAL BANK ON THE BID OF 2.161% AND THAT THE CERTIFIED CHECKS SUBMITTED WITH THE OTHER BIDS BE RETURNED. ROLLCALL VOTE. MOTION CARRIED. 1953-58 2.00% 1959-66 2.25% 26,508.87 2.3774 % REPORTS OF OFFICERS A REPORT OF THE CITY MANAGER - RE: TRAFFIC SIGNALS, AMAZON, SEWAGE DISPOSAL PLANT, ETC. WAS SUBMITTED AND READ AS FOLLOWS: "IT IS RECOMMENDED THAT AUTHORIZATION BE GRANTED FOR THE INSTALLATION OF OVERHEAD TRAFFIC SIGNALS AT THE FOLLOWING INTERSECTIONS. I . 13TH AND OLIVE 7. 9TH AND HIGH 2. 13TH AND OAK 8. 13TH AND HIGH 3. I I TH AND MONROE 9. I I TH AND HILYARD 4. I I TH AND HIGH 10. 13TH AND HILYARD 5. 7TH AND JEFFERSON I I . 19TH AND HILYARD 6. 6TH AND JEFFERSON I 2. 19TH AND WI LLAMETTE You WILL NOTE THESE INTERSECTIONS CONSTITUTE EVERY OTHER BLOCK IN SOME SECTIONS OF THE CITY. IT IS FELT THAT THESE WILL MATERIALLY HELP THE MOVEMENT AND CONTROL OF TRAFFIC AND SHOULD BE INSTALLED AT THE EARLIEST DATE POSSIBLE. THIS CONSTITUTES THE FIRST PORTION OF THE PROGRAM FOR THE INSTALLATION OF TRAFFIC SIGNALS RECENTLY SUBMITTED TO THE STATE HIGHWAY DEPARTMENT FOR THEIR COOPERATION. THE EUGENE WATER & ELECTRIC BOARD HAS AGREED TO INSTALL WOODEN POLES AT THESE INTERSECTIONS AT COST AND THE REST Of THE WORK WILL BE DONE BY FORCE ACCOUNT, WITH ASSURANCE THAT MATERIALS INCLUDING THE TRAFFIC LIGHTS, MAY BE DELIVERED WITHIN A TWO MONTH PERIOD. IT IS ESTIMATED THAT THESE SIGNALS MAY BE INSTALLED AT A COST OF APPROXIMATELY $1,000 PER INTERSECTION. THE SIGNALS INCLUDED IN THE ABOVE LIST WHICH INVOLVE STATE HIGHWAY PARTICIPATION MAY BE MOVED AT A LATER DATE TO ANOTHER LOCATION AT VERY LITTLE EXPENSE TO THE CITY OF EUGENE WHEN THE HIGHWAY DEPARTMENT IS ABLE TO PARTICIPATE IN THIS PROGRAM. IT IS FELT THAT THE URGENCY AND NEED OF THESE SIGNALS WARRANT THE CITY'S IMMEDIATE ACTION. THIS PROGRAM WILL CONSTITUTE APPROXIMATELY $12,000 OF THE $15,000 BUDGETED UNDER THE 1951-52 TRAFFIC SIGNAL PROGRAM. THE HIGHWAY COMMISSION AT THEIR LAST MEETING IN MAY APPROVED THE EXPENDITURE OF $5,000 FOR THE PARTICIPATION OF AN EXTERNAL ORIGINATION AND DESTINATION STUDY AND ROUTE ANALYSIS OF THE EUGENE-SPRINGFIELD METROPOLITAN AREA IN COOPERATION WITH THE COUNTY AND THE CITIES OF EUGENE AND SPRINGFIELD. UNDER THIS PROGRAM THE C,TY OF EUG~NE WOULD CON- TRIBUTE $2,000, THE COUNTY $3,000 AND THE CITY OF SPRINGFIELD $2,000, TOTALING $12,000. IN CONNECTION WITH THIS STUDY THE STATE. ALSO APPROVED THE USE OF THEIR ENGINEERS AND FACILITIES FOR A TRAFFIC AND PARKING STUDy WITHIN THE CITY OF EUGENE AT AN ESTIMATED COST OF $13,000. IT IS RECOMMENDED THAT THIS BE REFERRED TO THE PUBLIC WORKS AND FINANCE COMMITTEES FOR A MEETING IN THE NEAR FUTURE WITH OFFICIALS Of THE STATE HI~HWAY DEPARTMENT TO ASCERTAIN FURTHER DETAILS IN CONNECTION WITH THIS ENTIRE PROGRAM. ~:;;..',... .~.~_.~ ,',' ~)..'..... '': "'".,~i~>~~ ,,~~ u~ . .' . . . . - .. . '............,_."'-'___..._-'....h"'-__~.. _'""..c........_;..,.._~.'~_, _......_ , ._~_.__ -', ...AI.