Loading...
Minutes 1940/03/01 , 544 Gi1roy,Ca1ifornia. March 1,1940. This regular adjourned meeting 0 l' the Common Council is oalled to order by His Honor ,Mayor S. D.Heck. Present:Councilmen: George C.1tl1ias,Jr.,J~aes Battersby,George A. Martin,George M.Mason,Nat Heiner. Absent: Councilmen: Jack Rogers. Councilman Battersby introduces RESOLUTION NO.122. IJ Liotion by Counc ilman Battersby, seconded by Counc ilman I,cart in that RESOLUTION NO.122 be adopted. ".\ , JI'\' RESOLUTION NO.~ RESOLUTION RESCINDING RESOLUTION NO. 71 OF THE COIvllvION COUNCIL OF THE Crry OF GILROY 0 'I WHEREAS, On November 2, 1936, the Common Council of the City of Gilroy adopted its Resolution No. 71 directing the issuance of $31,000 principal amount of bonds authorized at an election held in said City on October 27, 1936, and directing the sale thereof; and WHEREAS, all bids for said bonds were rejected by Resolution No. 72 adopted by said Common Council on November 25, .>:~o c"i...... )1 I i' 1936; and WHEREAS, thereafter, to wit on February 13, 19~0, the Common Council duly adopte~ its Resoluti8n No. 119 providing for the issuance and sale of said $31,000 principal amount of ,,~~ '~.... ,. Ii. 'IU:.. .: p * bonds authorized at said election and said Common Council pro- poses to issue and sell said bonds authorized at said election pursuant to the terms and conditions more particularly set forth in said Resolution No. 119, liQYt, rrHEREFORE, BE IT RESOLVED. by the Common '" '0 Council of the City of Gilroy as follows, to wit: },., 1. - Resolution No. 71 of the COIDrrlOn Council of the City of Gilroy adopted November 2, 1936, is hereby repealed. All of the bonds authorized at the eleotion held in said City on October 27, 1936 shall be issued under and in accordance with the terms and conditions of Resolution No. 119 of the Common Counoil adopted February 13, 19~0. , '. ,~' I~ ~;~.' ..~ t' ~:) -:. ~ ~r -~~ .: ~ , J ~., \, \ ! ~ ') . I I.. f" r I '......tJ.. . L;: ". . 1M i ~ t~. n ~ D. 5~15 ADO];>TED AND PASSED.by vote of , fiv~ members of the~~~!~ Council of the City of Gilroy this ls1; day of March, 19~6, by the following vote: .!~',,'~ -; Ayes: Councilmen:George C.LIilias,Jr. ,James Battersby, George A.L:artin,George M.I:Iason,Nat Heiner. ., ~, i~ f~ I Noes: Councilmen: None Absent:Councilmen: Jack Rogers \l.~} ..; , '. .il..l 'l' ;'~. t~ f t.'i~,' <l . .', i: ,(oj. ," /'~$ ~ \, ~li , ( SEAL ) Attest: (],D-~ City Clerk ( I f Presented to and approved by me this 1st day of ~\ March, 194-0. ~ , 'f "f ~~~ ~J. .. ~a. Mayor of the C y ofl1roy, California. ;. This being the time specified for opening bids for ~31,000.00 princ ipal amount Gilroy l\!lunicipal Audi torium Bonds of 1940, nine bids are presented and read: KA.ISER &. CO. HELLER,BRUCE & CO. , LA1,':SON ,LEVY &., IVILLI..l1'::rB, BLYTH &., CO. , INC. , DONlELLAN 8" CO. , DEAN ViITTER &, CO., BAI1K11l;lERICA COli1P MY, AlvlliRIC1JJ TRUST COIJiPiUN, EASTLAND,DOUGLAS &. COI,PAIJY. Counc ilman He iner introduces RESOLUTION IJO.12;? l.lotion by Councilman Heiner,seconded by Councilman Battersby that RESOLt~ION NO. 123 be adopted. 546 RESOLUTION NO. 123 SELLING $31,000 PRINCIPAL AMOUNT OF CITY OF GILROY MONIC IPAL IMPROVEMENT BONDS OF 194-0 WHEREAS, the Common Council of the City of Gilroy, by resolution duly passed and adopted on the 13th day of February, 194-0, authorized the issuance of $31,000 principal amount of bonds of the City of Gilroy to be known as "City of Gilroy Municipal Auditorium Bonds of 194-0," being thirty-one (31) in number, numbered consecutively from 1 to 31, both in- clusive, of the denomination of $1,000 each, all dated February 15, 194-0, bearing interest at the rate of four (4-) '0 '..1, per cent. per annum, payable semiannually on June 15th and December 15th in each year, the first coupon on each bond being payable June 15, 194-0 and representing interest to said date from February 15, 1940; said bonds maturing in numerical order one (1) on uecember 15th in each of the years 194-0 to 1968, both inclusive, and. two (2) on December 15, 1969; and WHEREAS, notice of the sale of said bonds has Deen . t :J duly given in the manner prescribed by said Resolution and the ~''; following bids for said bonds were and are the only bids received ~. .~ by said Common Counci~, to wit: Name of Bidder: Principal Amount: Premium: ~ . Kaiser & Company Eeller,Sruce & Co. Lm'lson, Levy ( "illiams Blyth & Co., Inc. Donnellan & Co~,Inc. Dean Witter & Co. Bankamerica Co. , American Trust Company =astland,Douglass & Company v3~,000.00 31,000.00 31,000.00 31,000.00 31,000.00 31,000.00 31,000.00 31,000.00 31,000.00 ~4557.00 4888.00 4785.55 5057.00 3654.70 2682.00 4601.00 5275.75 4031.00 .~ ~ ~ ......... -1- 5~1'7 -- .'..... l "I ~ AND ~REREAS, the said bid of said American o Trust Company is the highest and best bid for said bonds, RESOLVED, that all bids except the bid of said American Trust Company are hereby rejected and the City Clerk is h~reby ordered and directed to return to the unsuccessful bidders their several checks accompanying their respeotive bids. RESOLVED, further, that the said bid of said American Trust Company to purchase said $31,000 of said City of Gilroy Municipal Auditor- ium Bonds of 19~O, be2ring interest at the rate of four (~) per o ,cent. per annum, payable semiannually a.s aforesaid, at said 'price of par, accrued interest and a premium of $5.275.?5 be, and is hereby, accepted a.nd the Treasurer of the City of uilroy is hereby authorized and directsd to deliver said bonds to said Amerioan Trust Compa:n;y upon payment to said City Treasurer of the said purchase price, to wit: Par, accrued interest at the rate of ~~ per annum to date of delivery, and a premium of $5.275.75 . RESOLVED, further, that the City Clerk is directed to cause to be lithographed, printed or engraved a sufficient number of blank bonds and coupons of suitable quality, said bonds ~c..,-"", and coupons to show on their face that the same bear interest at the rate of four (~) per cent. per annum, payable semiannually on June 15th and December 15th in each year, the first coupon on each bond representing interest from the date of said bond to June 15, 19~O. RESOLVED, further, that this resolution shall , I ~....' .r -2- (;~, ~ 1, t ii 548 ~. ~, I~ ;'.. take effeot from and after its passage and approval. ADOPTED AND PASSED by vote of five members of the Common Council of the City of Gilroy, this 1st day of March, 19~O, by the following vote: Ayes: Councilmen: George C. t:ilias ,Jr. ,James Battersby, George A.Martin,George IvI.M:ason,Nat He iner . Q Noes: Councilmen:None Absent:Councilmen: Jack Rogers. Mayor (SEAL ) Attest: G.G,.~ City Clerk Presented to and" approved by me this 'J 1st day of March, 19~Oo Mayor Liessrs,ITathan ~;oheh and IJ.I-I.Bovr.m.an appear before the Council to to discuss a drainage problem on North Forest Street. The City Engineer is instructed to investigate this matter and report to the Counc il. Councilman Mason discusses the vibration which has developed in the pump at the Munic ipal P"luuping Plant. This matter is left to Councilman Mason to ascertain the cost of any repairs necessary and ~ to report his findings to the Council. .Lj Councilman Mason is instructed to ascertain the cost of purchasing the old pump at the City reservoir for use of the Rod and Gun Club. . Adjourned subject to the call of the chair. G.Q,C:IDi City Clerk.