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<br /> 10/9/61
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<br /> I THIS BEING THE DATE SET fOR THE ACCEPTANCE Of BID ON GENERAL OBLIGATION BONDS IN THE AMOUNT Of :,
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<br /> $1,000,000 fOR THE CONSTRUCTION Of NEW CITY HALL, THE fOLLOWING TABULATION Of'BIDS AS OPENED.OCTO- 'ii
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<br /> BER 9, 1961 AT 10:00 AM WAS SUBMITTED: ,
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<br /> PRICE
<br /> I PER $100 NET INTE~EST EffECTIVE
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<br /> " BIDDER PAR VALUE INTEREST RATE COST TO' CITY RATE "
<br /> , U. S. NATIONAL BANK.Of PORTLAND~ BONDS ,DUE 1962-71 -2.75:'
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<br /> BLYTH & CO.; HARKNESS & HILL,INC; $ ,99.187 1972-75 -3.10:' $ 329,255.00. 3. 13576:'
<br /> KAllMAN & CO., DOMINICK & DOMINICK 1976-81 - 3.20:'
<br /> FOSTER & MARSHALL, INC.; WILLIAM ,BONDS :DUE 1962-73 -,3.00% "
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<br /> BLAIR & CO.; SCHWABACHER & CO.; 99.80 1974-77 - 3.25:' 335,350.00 3. 1938 :'
<br /> NATIONAL BANK Of WASHINGTONj+ 1978-81 - 3.30:' -
<br /> SEATTLE TRUST & SAVINGS BANK
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<br /> BANK Of CALifORNIA; .R.H.MoULTON BONDS DUE 1962-72 - 3.00:' "
<br /> & ,CO.; BACON, WHIPPLE & CO.; 99.9155 1973-79 -,3.25:' 336,770.00 ' 3. 20,73 % e
<br /> WILLIAM R. STATTS & CO~"'- 1980-81 - 3.40%
<br /> COMMERCE TRUST CO.; ,KANSAS CITY BONDS DUE 1962-73 -.-3 - , ". - ' . -. --- .
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<br /> FIRST NATL BANK, ST. LOUIS; 100.004 1974-76 - 3.25% 337,085.00 3.2I,03~
<br /> HUTCHISON, SHOCKEY & CO.,CHICAGO 1977-81 - 3.375:' :i
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<br /> SOQOMON BROS. & HUTZLER BONDS DUE '1962-66 - 6 % 3.21.67 :' ,
<br /> 98,02455 337,755.00 " I
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<br /> NEW YORK CITY '1967-79 - 3.25 % -
<br /> : 1980-81t - I %
<br /> CONTINENTAL ILLIONOIS NA1L BANK 1962-70 - 2.80 % ,I
<br /> BOI:-JDS DUE - :1
<br /> Of CHICAGO; KIDDER,.PEABODY & CO.; 100.064 1971-75 - 3.25 % .338,369.00 3.22247%
<br /> " STRANAHAN, HARRIS'& CO~'" 1976-81 - 3.40 % :(
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<br /> FIRST NATIONAL BANK.Of'OREGON 99.674 ,BoNDS, DUE ,962-70 -.-2.75 % 338,810.00'-' ~.226~' %' ;1
<br /> PORTLAND '1971-77 - 3.25 % "
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<br /> 1978-81 - 3.40 % "
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<br /> tlOHN NUVEEN & CO. &.Assoc. 98.9625 BONDS DUE 1962-69 - 2.75 % 338,87!?00 3.2274 %
<br /> SEATTLE 1970~72 - 3 :'
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<br /> 1973-81 - 3.25 % "
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<br /> GOODMAN, SACHS & COMPANY BONDS DUE 1962-70 - 2.70 :' 3.27719:' "
<br /> 98.8145 344,105.00 I'
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<br /> NEW YORK CITY 1971-75 - 3.10 % I'
<br /> . , . " 1976-81 - 3.40 % "
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<br /> I; IT WAS MOVED BY MRS. LAURIS SECONDED BY MR. MOLHOLM THAT T"HE 'B-'DOf,U.~.S. NAT'I"ONAL BANK. Of~PORT- i-
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<br /> LAND, OREGON; BLYTH & CO.; HARKNESS & HILL, INC.; KALMAN & CO.; AND DOMINICK & DOMINICK, BE ACCEPJED
<br /> ON THEIR BID Of $99.187 PER $100 PAR VALUE AT AN AVERAGE INTEREST RATE Of 3.13576%. ROLLCALL VOTE.
<br /> ALL COUNCILMEN PRESENT VOTING AYE, MOTION CARRIED. ". .
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<br /> " COMMITTEE REPORTS ~ i
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<br /> A REPORT Of THE COMMITTEE MEETING'HELD SEPTEMBER 28, 196JWAS SUBMITTED AS FQLLOWS: I!
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<br /> "PRESENT: MAYOR CONE; COUNCILMEN LAURIS, MOLHOLMi CHATT, MOYER, WILSON, SWANSON, CHRISTENSEN I:
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<br /> AND DEVERELL; CITY MANAGER; CITY RECORDER; ADMINISTRATIVE ASSISTANT; DIRECTOR Of I
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<br /> PUBLIC WORKS; CITY ENGINEER; AND OTHERS. ..-. -
<br /> 2 THE ENTIRE MEETING WAS DEVOTED TO CONSIDERATION AND DISCUSSION Of 15-YEAR COMPREHENSIVE i e
<br /> SANITARY AND STORM SEWER PROGRAM PREPARED BY CORNELL, HOWLAND, HAYES & MERRYfiELD, ENGINEER- I
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<br /> ING CONSULTANTS Of CORVALLIS, OREGON. CONS I DERABLE 0 I SCUSS ION DEVELO'PE'O 'A'NDTHE' DI RECTO'Ii . -
<br /> Of PUBLIC WORKS UPON REQUEST OF THE COMM.lTTEE GAVE HIS. OPINION OF' THE VARIOUS PROPOSALS IN-
<br /> CLUDED IN THE REPORT. THE QUESTION WAS ALSO RAISED AS TO WHETHER OR NOT T~E I NDUSTR) AL AREA
<br /> TO THE WEST OF'THE CITY HAD SEEN I NCL UDED IN, TH I S I?,ROGRAM AND IT WA!3 RE!,O~rED THAT IT WAS
<br /> NOT. DISCUSSION ALSO CENTERED AROUND WHETHER THE CUSTOMARy 5-YEA~ STORM CX~LE SHOULD BE -
<br /> REVISED TO 10,.15 OR 20 YEARS, AND IT WAS GENERALLY AGREED THAT THE ?-YEAR CYCLE WO!JLP BE
<br /> THE MOST WORKABLE. - ,I
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<br /> IT WAS MOVED BY MR. MOLHOLM SECONDED B~ MRi SWANSO~ THAT TH~ GENERAL BASIC SE~ER REPO~T A~D
<br /> PROGRAM OF CORNELL, HOWLAND, HAYES & MERRYFIELD BE APPROVED. MOTION CARRIED. ,i
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<br /> IT WAS MOVED BY MR. MOLHOLM SECONDED BY MR. CHATT THAT THE STAfF LAy OUT PLANS F'OR A BOND -
<br /> ELECTION DATE WITH REGARD TO THE SEWER PROGRAM. MOT ION. CARR I EO. - ,I
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<br /> 3 THE CITY MANAGER ASKED THE COUNCIL'S OPINION AS TO HIS RESPONSIBILITY IN THE NEGOTIATIONS ~ !
<br /> FOR PURCHASE OF' PROPERTIES FOR THE NEW CITY HALL SITE. THE COUNCIL FELT THAT UNLESS THE -
<br /> NEGOTIATIONS'BOG DOWN OR COULD NOT BE MET AQREEABLY .THE C9UNCIL WOULD NOT ENTER e -'
<br /> INTO IT "
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<br /> UNLESS ASKED BY THE CITY MANAGER." -
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<br /> IT WAS MOVED BY MRS. LAURIS'SECONDED BY MR. MOLHOLM THAT THE COMMITTEE REPORT BE APPROVED. MOTION ..
<br /> CARRIED. .
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