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238' <br /> <br />May 9th, 1962 <br /> <br />A~ a called meeting of the City Council, held on May 9th, 1962, at 11:30 A.M., there <br /> <br />R. Irvine Smith, C. S. Atkinson, Jack P. Barnes, John L. <br />W. T. Leafy, A. P. Johnson, Jr., City Manager, and J. S. <br />Attorney. <br /> <br />Dillon, L. L. Knight, <br />Livesay, Jr., City <br /> <br />The meeting was opened with prayer by Mr. Smith. <br />The following call for the meeting was read: <br /> <br /> "Please attend a called meeting of the City Council in the Council Chamber az <br />11:30 A.M. on Wednesday, May 9th, 1962, ro consider on first reading an ordinance awarding the sale of $1,600, <br />000.00 General Obligation Bonds. <br /> By Order of the President." <br /> <br />62-102 - The following communication from the City Manager was read: <br /> <br /> "Bids were opened at 11:00 A.M. <br />Obligation Bonds The bids were as follows: <br /> <br /> Morgan Guaranty Trust Company with an interest rate of <br /> Continental Illinois National <br /> Bank and Trus~ Company of Chicago <br /> Lehman Brothers <br /> Phelps Fenn & Company <br /> Shields & Company " <br /> Halsey Stuart & Company " <br /> White Weld & Company " <br /> Eastman Dillon Union Securities & Co. <br /> Ira Haupt & Company " <br /> Blythe & Company " " <br /> <br /> Northern Trust Company <br /> Kidder Peabody & Company <br /> <br /> Morgan Guaranty Trust Company being <br />awarded to this concern at the interest rate prescribed by the attached proposal <br />ordinance be placed on first resdlng. <br /> <br />today for the sale of $1,800,000.00 of General <br /> <br />2.8904 <br /> <br />2.8912 <br />2.8929 <br />2.9054 <br />2.9070 <br />2.9088 <br />2.9094 <br />2.920 <br />2.923 <br />2.937 <br />2.940 <br />2.965 <br /> <br />the low bidder, I recommend that the Bonds be <br /> and recommend that the attached <br /> <br /> Motion of Mr. Atkinson that the bonds ~e awarded to Morgan Guaranty Trust Company, the <br />low bidder, at the interest rate of 2.8904, was adopted, without dissenting vote. <br /> <br />dissenting vote: <br /> <br />On motion of Mr. Knight, the following ordinance was approved on first reading, without <br /> <br /> "AN ORDINANCE TO APPROVE THE SALE OF ONE MILLION EIGHT HUNDRED <br />THOUSAND DOLLARS OF GENERAL OBLIGATION BONDS PROVIDED IN THE ORDINANCE <br />ADOPTED BY THE CITY COUNCIL ON MARCH 21, 1962, AND FIXING THE RATE OF <br />INTEREST FOR SAID BONDS." <br /> <br />Approved: <br /> <br />On motion adjourned. <br /> <br />President. <br /> <br />City Clerk. <br /> <br /> <br />