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<br /> consent of the Council, and that enactment be considered at <br /> e this time. Motion carried unanimously and the bill was read <br /> the second time by council bill number only. <br /> Mr. Hamel moved, seconded by Mr. Delay, that the bill be <br /> approved and given final passage. Roll call vote. All <br /> Councilors present voting aye, the bill was declared <br /> passed and numbered 18295. <br /> E. Alley Vacation: Second and Final Reading (AI Art Enterprises) (AV 78-2) <br /> Manager noted receipt of money for alley vacation. <br /> CB 1780--Authorizing alley vacation located between East 14th Avenue <br /> and East 15th Avenue and from Oak Street west 160 feet to a <br /> north-south alley, was read by council bill number and title <br /> only, there being no Councilor present requesting it be read <br /> in full. <br /> Mr. Hamel moved, seconded by Mr. Delay, that the bill be <br /> approved and given final passage. Roll call vote. All <br /> Councilors present voting aye, the bill was declared <br /> passed and numbered 18296. <br /> III. Awarding Bids for Civic Center and Bancroft Bond Sales <br /> e Sherm Flogstad, Finance Director, expressed pleasure with the results of <br /> the bids. The prevailing bond interest rate as of last Friday was 6.14 <br /> percent. However, the bi ds recei ved for the City sal es 'today were as <br /> follows: For the Civic Center, there were seven bids received with the <br /> low bid from the John Nuveen & Co., Inc., Chicago, at 5.611 percent. For <br /> the Bancroft improvement bonds, three bids were received with the low bid <br /> from Bank of America at 5.3137 percent. <br /> Mr. Flogstad introduced Jim Bancroft with Bartle Wells, who prepared the <br /> bid prospectus. <br /> Res. No. 3035--Awarding sale of GO Bancroft Improvement Bonds Series E, <br /> in the principal amount of $2,120,000 to Bank of America <br /> at a net interest cost of $636,061.75, net effective <br /> interest rate of 5.3137 percent was read by number and <br /> title. <br /> Mr. Hamel moved, seconded by Mr. Lieuallen, to adopt the <br /> resolution. Roll call vote. Motion carried unanimously. <br /> Res. No. 3036--Awarding sale of General Obligation Civic Center bonds <br /> in the principal amount of $18,500,000 to John Nuveen & <br /> Co., Inc., Chicago, at a net interest cost of $13,427,355, <br /> net effective interest rate of 5.611 percent was read <br /> by number and title. <br /> e <br /> 11/1/78--5 <br /> '13 <br />