City Council Minutes - 04/26/1989 T I G A R D C I T Y C 0 U N C I L
SPECIAL MEETING MINUTES - APRIL 26, 1989 - 12:00 P.M.
1. ROLL CALL Present: Mayor Jerry Edwards; Councilors: Carolyn Eadon,
and Joe Kasten. City Staff: Pat Reilly, City Administrator; Wayne
Lowry, Finance Director; and Catherine Wheatley, Deputy Recorder.
RECESS COUNCIL MEETING: 12:01 PM
2. LOCAL CONTRACT REVIEW BOARD (Called to order at 12:01 p.m.)
a. Local Contract Review Board Members Present: President Jerry
Edwards; Board Members, Carolyn Eadon, and Joe Kasten.
b. Approve Bid Award - General Obligation Road Bonds, Series, 1989:
Finance Director reported seven bids were received on behalf of
the City at the offices of Lindsay, Hart, Neil & Weigler at
10 a.m. on April 26, 1989. The bids were reviewed by the bond
attorney who checked for accuracy and determined the low bidder
was Security Pacific Bank of Oregon with a true interest cost of
6.698289 percent. Staff's recommendation was for bid award to
Security Pacific Bank of Oregon.
Finance Director noted the next closest bid was submitted by
Kidder, Peabody & Company at 6.715552 percent.
C. Motion by Board Member Eadon, seconded by Board Member Kasten, to
award the bid to Security Pacific Bank of Oregon.
The motion was approved by a unanimous vote of the Board present.
d. ADJOURNMENT: 12:03 PM.
RECONVENE COUNCIL MEETING: 12:03 PM
3. RESOLUTION NO. 89-32 A RESOLUTION AWARDING THE SALE OF THE CITY'S
GENERAL OBLIGATION ROAD BONDS, SERIES 1989.
a. Motion by Councilor Kasten, seconded by Councilor Eadon, to
approve Resolution No. 89-32.
The motion was approved by a unanimous vote of Council present.
4. ADJOURNMENT: 12:04 PM
Approved by the Tigard City Council on f�Q�cq 8 , 1989.
Deputy Recorder - City of T rd
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Mayor - City of Tigard
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Page 1 - COUNCIL MINUTES - APRIL 26, 1989