HomeMy WebLinkAbout07-28-1965 SpecialAUBURN, WASHINGTON MDNDAY JULY 28, 1965
Minutes of the special meeting of the City Council of the City of Auburn called
by Mayor Gaines for purpose of awarding bid on sale of $665,000.00 Water -Sewer
Revenue Bonds, held at 10:00 a. m., July 28, 1965, in the Council Chambers at
the City Hall.
Councilmen present: Lea, Hoyt, Sonnemann, Calkins and Aaby.
The City Clerk opened and read the sealed bids for sale of $665,000.00 City of
Auburn Water -Sewer Revenue Bonds. Bids were as follows:
PACIFIC NORTHWEST CO.
HERRON NORTHWEST
KALMAN & CO., INC.
FOSTER & MARSHALL
Rate: Due
3,10% 1966-1970
3.30% 1971-1975
3.405 1976-1979
3.50% 1980-1983
3.60% 1984-1988
3.70% 1989-1995
$514,635.00
7,368.20
522,003.20
3.68907
BLYTHE & CO.
WM. P. HARPER
MARSHALL & MEYER
MERRILL, LYNCH,
PIERCE, FENNER &
SMITH
FRANC IS DUPONT
DOMINICK & DOMINICK
JOHN NUVEEN & CO.
Rate:
Due
Rate:
Due
Rate:
Due
3.25%
1966-1972
3.00%
1966-1969
4.75%
1966-1972
3.50%
1973-1981
3.25%
1970-1974
4.25%
1973
3.60%
1982-1985
3.30%
1975-1978
3.30%
1974-1977
3.70%
1986-1995
3.407o
1979-1980
3.40%
1978-1982
3.50%
1981-1987
3.50%
1983-1987
3.625%
1988-1991
3.60%
1988-1993
3.70%
1992-1993
3.50%
1994-1995
3.75%
1994-1995
$518,020.00
9,842.00
527,862.00
3.7304
$516,235.00
9,908.50
526,143.50
3.705
$500,400.00
13,216.87
513,616.87
3.6298
Gross
Prem Disc
Net
Effective
Rate
All bids were accompanied by certified checks in the amount of $13,300.00 each.
After recessing for 15 minutes, Mayor Gaines reconvened the meeting at 10:30 a. m.
Robert Sims of Blythe & Co., financial consultant for the city, recommended the
acceptance of the bid of John Nuveen & Co.
It was moved by Lea and seconded by Calkins that we award the bid for sale of
$665,000.00 City of Auburn Water -Sewer Revenue Bonds to John Nuveen & Co. at effective
rate of 3.6298, and that all certified checks be returned to the unsuccessful bidders.
ROLL CALL VOTE: All Councilmen present voting YES.
MOTION CARRIED
There being no further business the meeting was declared adjourned at 10:35 a. m.
subject to -the call of the Mayor.
. _-F
APPROVED TH I S DAY OF
CIYY CLERK
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M A Y O R