City Council Packet - 11/11/1963 TIGARD CITY COUNCIL
MINUTES OF MEETING NOVEMBER 11, 1963.
The regular meeting of the City Council of the City of
Tigard, Oregon held on November 11, 1963, was called to order at
7:30 P. M. by Mayor E. A. Woodard; roll call revealing that
Councilman Johnson and Councilman Bergmann, together with City
Recorder Ralph V. Symons and Attorney Fred. A. Anderson attended
the meeting.
The Minutes of the last previous regular meeting were
read and approved.
Mayor Woodard: We will proceed with paying the bills.
Mayor Woodard read the bills in the absence of the Treasurer;
following which Councilman Johnson moved the bills be paid;
motion seconded by Councilman Bergmann and unanimously passed
by the Council.
Mayor Woodard advised the Library Board had held their meeting
on November 7th and organized as follows; President, Mrs. Mary
Woodward, one year; Secretary-Treasurer Mrs. Jean Hein, three
years; Beverly.Bender, four years Donald V. Jacobs, four years;
Francis J. Cooper, two years. They will hold their meetings
the second Thursday of the month
Discussion followed regarding desk and chair for the Library;
after which Councilman Johnson moved that we buy a desk and
chair for the Library. Motion seconded by Councilman Bergmann
and unanimously passed by Council.
Discussion was held concerning the bond sale and advertising
of same.
It being 8:00 P. M., Mayor Woodard announced that the time
within which to submit bids was closed and'directed Recorder
Symons to read all bids received, being three in number, and
same were publicly read, as 'follows:
Bid of THE UNITED STATES NATIONAL BANK,, Tigard Branch:
For the entire $150,000. issue to be dated December 1,
1963 at a purchase price of $100. for each $100. face value
together with accrued interest to date of delivery.
Net interest cost: $43,677.50
Effective interest rate: 3.3963%
with the following coupon interest rates:
Bonds maturing 1964 to 1973, inclusive, at 3-1/4%
Bonds maturing 1974 to 1978, inclusive,' at 3-1/2%
11-11-63 - Page 1.
Bid of THE FIRST NATIONAL BANK OF OREGON, Tigard Branch:
For the entire $150,000. issue-to be dated December 1, 1963
at a purchase price of $100.058 for each $100, par value together,
with accrued interest to date of delivery.
Net interest cost: $44,203,00
Effective interest rate: 3.4372%
with the following coupon interest sates;
Bonds maturing 1964 to 1969, inclusive, at 3-3/4%
Bonds maturing 1970 to 1974, inclusive, at 3-1/4%
Bonds maturing 1975 to 1978, inclusive, at 3-1/2%
Bid of BLYTH & CO., INC.;
For the entire $150,000. issue to be dated December 1, 1963
at a purchase price of $100. for each $100. par value together
with accrued interest to date of delivery.
Net interest cost: $44,745.00
Effective interest rate: 3.47941Y.
After duly considering the bids as rendered and discussing
same with Attorney Anderson, on motion made by Councilman Johnson,
seconded by Councilman Bergmann, and unanimously passed by the
Council, the bid of the United States National Bark, Tigard
'Branch, offering to;purchase said bonds at an effective interest
sate of;3.3963% was duly accepted, and Attorney Anderson was
directed to give notice to the successful,bidder of the acceptance:
of its bid and to return the bid deposits to the other bidders, and,
together with Recorder Symons, to take all proper and''needful
action to cause to have the bonds prepared, signed and delivered
to the successful bidder at the earliest feasible date and to
cause to have the further transcript of the bonding proceedings
and sale submitted for,approval by Messrs. Shuler, Sayre, Rankin
and Myers.
Councilman Johnson: I move we adjourn; motion seconded by
Councilman Bergmann and unanimously approved by Council.
Adjournment taken at 8:30 P. M.
Respectfully submitte
CZ.� �'6"✓62�
Recorder'- City, of Tigard.
ATTEST.
MAYOR -'City of Tigard.
11-11-63 - Page '2,