HomeMy WebLinkAbout05/31/1957 Meeting
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COUNCIL CHAMBERS
EUGENE, OREGON
MAY'31; 1957
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THE REGULAR_MEETING or THE COMMON COUNCIL or THE CITY or EUGENE WAS HELD ON MAY' 13, 1957,
ADJOURNED 'TO MAY'27, 1957, AND ADJOURNED TO MAY 31, 1957 AT 4:00 PM iN THE COUNCIL CHAMBERS.
THE MEETIN~ WAS CALLED TO ORDER BY HIS HONOR, MAY~R J. J. ,MCGINTY, WITH THE ,rOLLO~ING COUNCIL-
MEN PRESENT: MR. SHEARER, MR. SHISLER, MR. EDMUNDS, MRS.LAURIS; MR~ BRIGGS AND MR. LINDEEN.
THIS BEING THE DATE SET rOR THE AWARD or A $700,000 PUBLIC LIBRARY BOND ISSUE,.THE FOLLOW-
ING BIDS WERE TABULATED AS OPENED ON MAY 31, 1957 AT 10:00 AM:
BIDDER
FOSTER AND MARSHALL
PURCHASE PRICE
PER $100
PAR VALUE
$ 9~.40
BLYTH & COMPANY, INC.
THE NORTHERN TRUST COMPANY
EUGENE BRANCH OF THE UNITED
STATES NATIONAL BANK or
PORTLAND (OREGON)
98.89
FIRST NATIONAL BANK or
PORTLAND, EuGENE, MAIN BRANCH
98.43
I NTEREst RATE
195~-64' -',3-1 /4%
1965-67 - 3-3/8~
1968-71 - 3-1/2%
1972-75 - 3-5/8%
1976..777 - 3.7%
1959-68 - 3;',/2%
1969-77 3-3/4%
, 'NET INTERESt
Cost 'To CITY
. 281,864.25
ErrECTIVE
INTEREST
RATE
,'3.6729%
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289,532.?0
1959-69 - 3-1/2%
1970-77 - 3-~/4%
291,642...50'
3~7729%
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3.80039%
IT WAS MOVED BY MR. EDMUNDS SECONDED BY MR. SHEARER THAT THE BID BE AWARDED TO FOSTER AND
MARSHALL BASED ON THE BID RECEIVED, WITH A NET INTERRST COST or $281,864.25 AND AN EFrECTIVE
RATE or 3.6729%. ROLLCALL VOTE. ALL COUNCILMEN PRESENT VOTING AYE, MOTION CARRIED.
UPON MOTION DULY MADE, SECONDED AND CARRIED, THE MEETING WAS ADJOURNED.
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RESPECTrULLY SUBMITTED,
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CITY MANAGER
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