City Council Packet - 11/14/1979 NOTICE OF SPECIAL COUNCIL MEETING
Notice is hereby given that a special Council meeting, called by the
common consent of the Council, will be held on November 1.4, 1979 at
4:30 P.M., in Tigard City Hall, 12420 SW Main Street, Tigard, Oregon.
The meeting is called for the purpose of awarding the bid on the SW
Hunziker Street Bond Sale and Acceptance of a Maintenance Bond for
Winsom Terrace for $13,750.
S/ Alan W. Mickelson
Mayor - City of Tigard
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Posted November 13, 1979 at P.M.
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T I G A R D C I T Y C 0 U N C I L
SPECIAL MEETING MINUTES, NOVEMBER 14 , 1979, 4:30 P.M.
ROLI. CALL: Present: Mayor Alan W. Mickelson, Councilman Tom Brian, Councilwoman
Nancie Stimler; Legal Counsel, Joe D. Bailey; City Administrator,
R.R. Barker; City Recorder/Finance, Director Doris Hartig.
Special meeting was called by the Mayor with the common consent of the
Council for the purpose of accepting the bid for the S.W. Hunziker Street
Bancroft Bonds and consideration of reducing the bond for Winsome Terrace
Subdivision.
I. S.W. HUNZIKER STREET BANCROFT BONDS-SERIES 12 - $128.082.41
Kidder Peabody & Company Net Interest Rats:: $55,617.96
3200 1st National Bank Tower Average (tate 7.194%
Portland, Oregon 97001 Good Faith Check 2,600.00
1st National Bank Net Interest Rate $53,729.30
P.O. Box 2321.8 Average Rate 6.950009%
Tigard, Oregon 97223 Good Faith Check -0-
The Oregon Bank Net interest Rate $55,398.27
P.O. Box 2715 Average Rate 7.16589%
Portland, Oregon 97208 Good Faith Check $2,600.00
U.S. National. Bank Net Interest Rate $54,353.51
P.O. Box 4412 Average Rate 7.03075%
Portland, Oregon 97208 Good Faith check $2,600.00
The bonding attornies disqualified the bid of First National Bank 'because they:
did not enclose a good faith deposit check.
City Attorney recommended Council accept the low bid of U.S. National Bank with
average interest rateof 7.03075%.
Motion by Councilwoman Stimler to accept bid of U.S. National`Bank:' seconded
by`Councilman`Brian.
Approved ,by unanimous vote of Council present.
2." WINSOME TERRACE - REDUCTION OF CASH BOND ESCROW AGREEMENT
City Administrator stated the developer. had 'requested the bond for Winsome
Terrace be reduced from $63,750 to $13,750 and would provide another mainten-
ance surety bond. However,' at the time of the meeting the necessary papers
were not received, and City Administrator recommended approval subject to
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receipt of proper documentation.
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Motion by Councilman Brian to reduce the bond to the appropriate level.,
contingent upon a satisfactory bond being provided to the City Administrator;
motion secondc3 by Councilwoman Stimler.
Approved by unanimous vote of Council present.
Meeting adjourned 4:50 P.M.
City Recorder
ATTEST:
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Mayor
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