Minutes 09/05/1951 - Laserfiche WebLink

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29S were present: At a called meeting of the City Council, held at 5:00 P.M., on September 5th, 1951, there Fred A. Duke, Fr ~ank N. Bilisely, Jr., George L.Grimes, Carl C~Houghton,Jr., James N. Howard, P~. Irvine Bmith, E. Robie Sturteva~t, C. E. Warren, H.Earl Weisemam, Pearle J. Wilson, I. G. Vass,City~Manager, and R. C. Barclay,City Attorney. The following call for the meeting was read: "You are requested to attend a called meeting of the Council, in the Council Chamber at 5:00 P.M., on Wednesday, September 5th, to consider the sale of $1,500,000.00 City of Portsmouth Bonds, to be known as School Bonds. By Order of the President." The following letter frem the City Manager was read: "I submit herewith the~following bids received today on the one million five hundred thousand dollars of school bonds and recomm~ud that the bid of the Northern T~ast Company, at interest rate of 1.867be accepted, this bid represent'~mng the lowest cost to bhe City; also that the attached ordinance be placed on its first reading: - Northern Trust Compauywith an interest rate ef 1.867 Ira Haupt & Company Associates " ~' " 1.938 Lehman Brothers " " " 1.962 .Blythe & Company " " " 1.976 First Se~arities Company 1.983 Halsey, ~w~uart~&Co~m~lny " " " 2.038 Brooke-Willis, Iuc. " " " 2.051 Phelps- Femm& Company " " " 2.058." Notion of Mr. Howard to approve the recommendation of the City Manager and that the follow- ing ordinance be placed on its first reading was adopted and by the following vote: Ayes: Duke, Bilisoly, Grimes, Houghton, Howard, Smith,Sturtevant, Warren, Weisemau. Wilson Nays: None ,'AN ORDINANCE TO APPROVE THE SALE OF ONE M~J.ION FIVE HUNDRED THOUSAND D~.LARS OF SCHOOL BONDS PROVIDED FOR IN THE ORDINANCE ADOPTED BY THE COUNCIL OF THE CITY OF PORTS~iOUTH ON AUGUST 14th, 1951 A~D FIXING THE RATE OF INTERES~ FOR SAID BOkI~" On motion adjourned. Cit!ilerk. approved - President.