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<br />~n <br /> <br />~ <br /> <br />e <br /> <br />COUNCIL CHAMBERS <br />EUGENE, OREGON <br /> <br />MAY'31; 1957 <br /> <br />1 <br /> <br />THE REGULAR_MEETING or THE COMMON COUNCIL or THE CITY or EUGENE WAS HELD ON MAY' 13, 1957, <br />ADJOURNED 'TO MAY'27, 1957, AND ADJOURNED TO MAY 31, 1957 AT 4:00 PM iN THE COUNCIL CHAMBERS. <br />THE MEETIN~ WAS CALLED TO ORDER BY HIS HONOR, MAY~R J. J. ,MCGINTY, WITH THE ,rOLLO~ING COUNCIL- <br />MEN PRESENT: MR. SHEARER, MR. SHISLER, MR. EDMUNDS, MRS.LAURIS; MR~ BRIGGS AND MR. LINDEEN. <br /> <br />THIS BEING THE DATE SET rOR THE AWARD or A $700,000 PUBLIC LIBRARY BOND ISSUE,.THE FOLLOW- <br />ING BIDS WERE TABULATED AS OPENED ON MAY 31, 1957 AT 10:00 AM: <br /> <br />BIDDER <br />FOSTER AND MARSHALL <br /> <br />PURCHASE PRICE <br />PER $100 <br />PAR VALUE <br /> <br />$ 9~.40 <br /> <br />BLYTH & COMPANY, INC. <br />THE NORTHERN TRUST COMPANY <br />EUGENE BRANCH OF THE UNITED <br />STATES NATIONAL BANK or <br />PORTLAND (OREGON) <br /> <br />98.89 <br /> <br />FIRST NATIONAL BANK or <br />PORTLAND, EuGENE, MAIN BRANCH <br /> <br />98.43 <br /> <br />I NTEREst RATE <br />195~-64' -',3-1 /4% <br />1965-67 - 3-3/8~ <br />1968-71 - 3-1/2% <br />1972-75 - 3-5/8% <br />1976..777 - 3.7% <br /> <br />1959-68 - 3;',/2% <br />1969-77 3-3/4% <br /> <br />, 'NET INTERESt <br />Cost 'To CITY <br /> <br />. 281,864.25 <br /> <br />ErrECTIVE <br />INTEREST <br />RATE <br />,'3.6729% <br /> <br />e <br /> <br />289,532.?0 <br /> <br />1959-69 - 3-1/2% <br />1970-77 - 3-~/4% <br /> <br />291,642...50' <br /> <br />3~7729% <br /> <br />1 <br /> <br />3.80039% <br /> <br />IT WAS MOVED BY MR. EDMUNDS SECONDED BY MR. SHEARER THAT THE BID BE AWARDED TO FOSTER AND <br />MARSHALL BASED ON THE BID RECEIVED, WITH A NET INTERRST COST or $281,864.25 AND AN EFrECTIVE <br />RATE or 3.6729%. ROLLCALL VOTE. ALL COUNCILMEN PRESENT VOTING AYE, MOTION CARRIED. <br /> <br />UPON MOTION DULY MADE, SECONDED AND CARRIED, THE MEETING WAS ADJOURNED. <br /> <br />o <br /> <br />RESPECTrULLY SUBMITTED, <br /> <br /> <br />~~ <br /> <br />CITY MANAGER <br /> <br />1 <br /> <br />e <br /> <br />I <br /> <br />e <br />