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March 14, 1963 <br /> <br /> At e called meeting of the C~ty Council, held on March 14,:1963, there were present: <br /> <br />R. Irvine Smith, C. S. Atkinson, John L. Dillon, George D. East, s, L. L. Knight, <br />W. T. Leery, A. P. J'ohn$o~, Jr., City Manager, and M. A. Korb, Jr., Acting City Attorney. <br /> <br />Absent: Jack P. Barnes. <br /> <br />The meeting was opened with prayer by Mr. Smith. <br /> <br />The following call for the meeting was read: <br /> <br /> 63-71 - "Please attend a called meeting of the City Council, in the Council Chamber, at 11:30 A. <br />on Thursday, March 14th, 1963, To consider the following ordinances: <br /> <br /> 1. An Ordinance To Approve the Sale of $1,600,000.00 of General Obligation <br /> Bonds Provided in the Ordinance Adopted by the City Council on January 22nd, <br /> 1963, and fixing the Rate of Interest for said Bonds. <br /> 2. An Ordinance to Approve the Bale of ~$3,000,000.00 of Water Bonds Provided <br /> in the Ordinance Adopted by the City Council on January 22nd, 1963, and Fixing <br /> the Rate of Interest for said Bonds. <br /> By Order of the President." <br /> <br /> The following communication from the City Manager was read: <br /> <br /> 'bids were opened at 11:00 A. M. today for the sale of $1,600,000.00 of General Obligation <br />Bonds and $3,000:000.00 in Water Bonds. Bide were as follows: <br /> <br />First National Bank of Chicago <br />Continents] Illinois National Benk & Trust Of Chicago <br />Ira Haupt & Company <br />Blythe and Company <br />Lehman Brothers <br />Halsey Stuart ~ Company <br />Morgan Guaranty Trust Company <br />Eas.tmen Dillon Union Securities ~ Company <br />First National City Bank <br />The Northern Trust Company <br /> <br />- net interest - 2.7920 <br />- ~et interest - 2.8033 <br />net interest - 2.8202 <br />- net interest - 2,8221 <br />- net interest - 2.8246 <br />- net interest 2.8278 <br />- net interest - 2.8315 <br />- net interest - 2.8353 <br />- net interest - 2.8373 <br />- net interest - 2.8471 <br /> <br />awarded to this concern <br />Ordinances be placed on <br /> <br />First National Bank of Chicago being the low bidder, I recommend that the bonds be <br />st the interest rate prescribed by the attached proposal and recommend that the attached <br />first reading. <br /> <br /> Motion of ~ir. Knight that the General Obligation Bonds be awarded to First National Bank <br />of Chicago au the interest rate of 2.79206 and that the following Ordinance be approved on first reading, was <br />adopted, without dissenting vote: <br /> <br />"AN ORDINANCE TO APPROVE THE SALE OF $1,600,000.00 OF GENERAL OBLIGATION BONI)S <br />PROVIDED IN THE ORDINANCE ADOPTED BY THE CITY COUNCIL ON JANUARY 22, 1963 AND <br />FIXING THE RATE OF INTEREST FOR SAID BONDS." <br /> <br /> Motion of Mr. Atkinson that the Water Bonds be awarded ~o the First National Batik of <br />Chicago sE the interest rate of 2.79~06 and that the following Ordinance be approved on first reading, ~za~ <br />adopted, without dissenting vote: <br /> <br />"AN ORDINANCE TO APPROVE THE SALE OF $3,000,000.00 OF WATER BONDS PROVIDED <br />IN TttE ORDINANCE ADOPTED BY THE CITY COUNCIL ON JANUARY 22, 1963 AND FIXING <br />THE RATE OF INTEREST FOR SAID BONDS. <br /> <br />On motion adjourned. <br /> <br />Approved - <br /> <br /> ~esident <br /> <br />City Clerk <br /> <br /> <br />