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HomeMy WebLinkAbout1965-04-14 Minutes283 uthorize The City Controler read a recomendation from T. J. Raney and SonAF financial Advisors for the d1ty, exp negoationsining a proposed bond issue for the overall cost of complete Sanitation Department equipment. T. J. Afteraa long discussion, Alderman Burgin moved that the Finance Committee and the City Controler be and Ran 0 and they are hereby authorized to negotiate a contract with T. J. Raney and Sons to.underwrite a proposed on Sanitation bond issue in an amrount not to exceed 200,000.00 dollars nor an interest rate not to exceed 3i per cent (three and one half) and payment to T. J. Raney and Sons shall not exceed 2 percent of the Mace value of the authorized issue before conversion. A The motion was seconded by Alderman Short and passed unanimously. Tickets ' long discussion was had concerning the price of season tickets for the swimming pool at the City Park. forAlderman Burgin moved to raise the price on season tickets 10$ over the 1964 rate1. . Swim. rm The motion was.seconded by Alddan Short and passed unanimously., pool. ' Alderman Short moved -to accept the recomendation of the Mayor to place intthe budget for the City Parks I amount not to exceed 1,000.00 for rider-moWfAgThe motion was seconded by Alderman Watson and passed MoveMo unanimously. Authorize I lderman ""hort then moved that The City Engineer be authorized to prepare specifications for a rider moi bids and that the Mayor be authorized to advbttise and recerve for same. or The motion was seconded by Alderman Heflin and passed unanimously. Rider- Alderman Short moved that the Mayor and f to ex4.cute the Purpose of The Mayor reported that the purpose of the meeting was to discuss a lease for a tower site with the MQ�{1 meeting. There being no further business Alderman Heflin moved to adjourn. The motion was seconded by Alderman S1 Short and passed unanimously whereupon the Mayor declared the meeting djourned. APPROVED GUY BROWN, MAYOR ATTEST: GEORGE Vo. DWTS, CITY CLERK Special Me The City Council of Fayetteville, Arkansas met in Special Session on Wednesday April 14th, 1965 at 12:00 geeting o'clock noon,CST AbIthe Mountain Inn Motor Lodge, Present Mayor Guy E. Brown, City Attorney Hugh Kincaid, City Contro*r Albert J. Jones, City Engineer W. C. Smit#, and Aldermen Heflin, Christie, Watson, Thomas, Burgin, Faucette, and Short. Absent: City Clerk George J. Davis, and Alderman Garland Wheeler. Alderman, Ward 2 urposed A long biscussion was held with reference to,a proposed &ease for a Radio Tower near the Markaham Heighth ease for Water Tank to be constructed and owned by the Motorola Company. radio A letter from Mrs. Laird Archer was read opposing the Construction of the Radio Tower at this site. ower Alderman Christie moved to enter into negotiations with the Motorola Comapny relative to a lease for a defeated. Radio Tower on the two acre tract on Markham Heights where the City Water tank is located. The motion was seconded by Alderman Burgin and upon roll call the Following vote was recorded, "AYE" Heflin, Christie, End Burgin. "NAY" Watson, Thomas, Faucette,and Short. Absent and not voting, -"Wheeler' There being three "AYES", four "NAYS", with one absent and not .voting,:The Mayor declared the motion failed to pass for lack of a majority vote. uthorize Alderman Short moved that the Mayor and In the Absence of the City Clerk, The City Controler Albert 'J. Jones acted as Clerk. to ex4.cute the Purpose of The Mayor reported that the purpose of the meeting was to discuss a lease for a tower site with the J. Raney and Sons, Little Rock Arkansas as meeting. Motorola Two Way -Radio Company, to discuss a contract withzT. J. Raney and Sons for a Sanitation Revenue Controler and Finance Committee. Bond Issue, and to take proper action on a complete adoption of the Sanitation Reorganization as :ontract. The motion was seconded by Alderman Thomas and upon roll call the following vote was submitted by Alderman Thomas on March 29 thy 1965, and that all Aldermen had been notified of the Special ith Heflin, Christie, Watson,Thomas, Burgin, Meeting at the Regular Meeting.on Monday April 12, 1965 and by telephone butAlderman Garland Wheeler was Wheeler. J. RaneyThere Sick and unable to attend but waived notice of the Special Meeting. the mayor declared the motion passed. . Waiver of WAIVER OF NOTICE OF SPECIAL MEETI.P0 OF Notice. FAYETTEVILLE, CITY. CCUNCIL Comes now the undersigned, being a duly eleeted, qualified, and acting member of the City Council of the City of F yetteville, Arkansas, and specifically waives notice of a special meeting of the Fayetteville, City Council to be held in the City Council Room of the City Administration Building, Fay- etteville, Arkansas at 12: 08clock noon, on April 14, 19650 Dated this 14 th day of April, 1965, Alderman, Ward 2 urposed A long biscussion was held with reference to,a proposed &ease for a Radio Tower near the Markaham Heighth ease for Water Tank to be constructed and owned by the Motorola Company. radio A letter from Mrs. Laird Archer was read opposing the Construction of the Radio Tower at this site. ower Alderman Christie moved to enter into negotiations with the Motorola Comapny relative to a lease for a defeated. Radio Tower on the two acre tract on Markham Heights where the City Water tank is located. The motion was seconded by Alderman Burgin and upon roll call the Following vote was recorded, "AYE" Heflin, Christie, End Burgin. "NAY" Watson, Thomas, Faucette,and Short. Absent and not voting, -"Wheeler' There being three "AYES", four "NAYS", with one absent and not .voting,:The Mayor declared the motion failed to pass for lack of a majority vote. uthorize Alderman Short moved that the Mayor and City Clerk be and they are hereby authorized to ex4.cute the 1x1cution Sanitation Revenue Bond Contract with T. J. Raney and Sons, Little Rock Arkansas as approved by the City if Controler and Finance Committee. :ontract. The motion was seconded by Alderman Thomas and upon roll call the following vote was recorded, "AYES" ith Heflin, Christie, Watson,Thomas, Burgin, Faucette, and Short, "NAY" none. Absent: Wheeler. J. RaneyThere being seven "AYES" and no "NAYS", the mayor declared the motion passed. . and Sons.l CONTRACT IIn Connection with the authorization, issuance and sale of the City's proposed issue of Sanitation Improve r ment Revenue Bonds in the Amount of $200,000.00, we respectfully submit the following proposal to assist 3 you in this financing. We can be of service to your City in finding a pruchaser for your bonds arranging for the sale and delivery of the bonds and therefore we submit for your consideration the following pro - We will cooperate with you in calculating and determining the proper maturity schedule and redemption provisions for the proposed bonds and all other details relative to the security provisions and fin- ancial aspects of this provision. We will cooperate with you in determining the proper revenue necessary to produce an amount equal to 150'Li of the amount necessary to repay the annual principal and interestrequirements to retire the bonds. The City Will covenant and agree to maintain rates for the services of the Sanitation Dep- artment of the City which shall be sufficient at all times to provide for the proper and reasonable expenses of operation and maintenance of said department and for the payment of the principal of, in- terest on and paying agents fees in connection with the bonds of this issue as the same becomes due and payable. f ! We will employ Mr. Herschel Friday, Municipal Bond Counsel, to prepare all necessary ordinances and/ or resolutions. The City will promptly adopt all necessary ordinances and/or resolutions pertaining t the issuance and sale of the bonds in such forms as are satisfactory to the retained Municipal Bond Counsel and will take such other steps as such counsel may require to enable him to render an unqual- ified opinion on the legality on the authorization, issuance and sale of the bonds. 384 We agree to pay the expense in the issuance of the bonds as follows: (a) Printing of the bonds (b) (c) Fee charged by the bond approving attorney (d) Newspaper cost of the printing of the ordinance the issuance of the bonds and the Notice of Sale. 5. They are to mature over a schedule of from 1 to 15 years, both inclusive. The bonds shall be callab numerical order out of surplus construction funds on any interest -paying date at par and accrued int Bonds will be callable from surplus revenues at par and accured interest onaany interest paying date after a reserve fund amounting to one year's principal and interest has been established. The bonds will be callable from funds derived from any source on and after five years from date of assuance. 6. The City of FAyetteville, proposes to issue approximately $200,000.00 in Saintation Improvement Rev nue Bonds and we guarantee to find a buyer for these bonds at a price of 100 cents on the dollar'face value and accrued interest for bonds bearing interest attbhe rate of 3.50%• The purchaser shall have the right to convert the bonds to bonds bearing lower rates of interest so long as the City receives no less and pays on more than if the bonds had not been converted. Conversion is to be subject to the approval of the trustee and the bond approving attorney. 7• In consideration of our guaranteeing to sucure for you a buyer who will pay you 100 cents on the doll• ar and accrued interest for your prorosed issue and to pay the expenses named above, you agree to pay us for our services all the premium that may be received at thessale up to 2% of the face value of the authorized issue before conversion. Any premium in excess of 2% is to be retained by the City. If for any reason the bonds are not issued,•the City of F yetteville, will be under on obligation to pay us a fee for any expenses we may have incurred. The bonds are to be delivered within 666 days, thereafter at the buyer's option. s agreement is made subject to the buyer receiving the unqualified legal approving opinion os Smith, liams, Friday and Bowen, Attorneys, Little 44ock, Arkansas as to the legality of this issue. ACCEPTED THIS THE 14th DAY OF April, 1965. CITY OF FAYETTEVILLE, ARKANSAS ER Mayor BY City Clerk Respectfully submitted, T. J. RANEY & SONS BY John F. Gorman )roceed The reor ganization of the Sanitation Department again came up for discussion and after a long discussion rith �lderma Short moved to Proceed with complete adoption of Sanitation Reorganization as submitted by Sanitati-I(Alderman Thomas at the Regular Meeting of the Council on March 29th, 1965 . m (The motion was seconded by Alderman Watson and passed unanimously. program, here being no further business Alderman Watson moved to adjourn. The motion was seconded by Alderman :Ph homas and passed unanimously, where upon the mayor declared the meeting ad ourned. CTTES^ APPROVED I T: nCSyu� GUY E: ROWN, MAYOR ALBERT J. ONVIACTINC CLERK The City Council of F,yetteville, Arkansas met in Regular Session on Monday April 26th, 1965 at 7:30 P.M. in the Council Room of the City Administration Building, Present: Mayor Guy.E. Brown, City Clerk George J. Davis, City Attorney Hugh Kincaid, City Controler Alb( J. Jones, City Engineer W. C. Smity Cbi.ef.of.Police Hollis Spencer, Fire Chief Burl Skelton, and Aldermen Heflin, Christie, Watson, Thomas, Faucette, and Short. Absent: Aldermen Wheeler, and Burgin. minutes of the Regular Meeting on Monday April 1231-h, 1965 and of the Special Meeting on Wednesday, 1 14th, 1965, a copy of which had.previously been mailed to each of the Alderman, were approved as . ten, The City Planner presented the Petition from Fred and Irma Shaffer for rezoning of property located on U. S. Highway 71 South south of Cato Springs Road from R-2 Two -Family Residential1D,t trict to C=2 Th- 1 oroughfare Commercial District, which had been approved by the Planning Commission. After a brief discussion the City Attorney introduced, and at the request of the Council, read a*proposed ordinance in its entirety for the first time entitled, "AN ORDINANCE AMENDING ZONING ORDINANCE N0. 1239, AND REVISED ZONING DISTRICT MAP OF FAYETTEVILLE, ARKANSAS APPROVED MAY 28, 1962, TO REZONE CERTAIN REAL ESTATE FROM R-2 TWOQFAMILY RESIDENTIAL.DISTRICT TO 'C-2 THOROUGHFARE COMMERCIAL DISTRICT". LP Alderman Thomas moved that the rule be suspended and the Ordinance placed on the second reading. 'f The motion was seconded by Alderman Heflin and passed unanimously. The Ordinance was then read for the second time. Alderman Thomas then moved that the rule be further suspended and the Ordinance placed on the third and final reading. The motion was seconded by Aderman Heflin and passed unanimously. The Ordinance for the third and last time, The Mayor thin declared the Ordinance open for discussion. There being no -discussions the Mayor asked the question, "Shall the Ordinance pass?" Upon roll call the following tote was recorded,"AYE" Heflin, Christ'. Watson, Thomas, F,ucette, and Short. "NAY" none. There being six "AYES" and no "NAYS", the Mayor declared the Ordinance passed, ORDINANCE N0, 1442 AN ORDINANCE AMENDING ZONING ORDINANCE N0. 1239, AND REVISED ZONING DISTRICT MAP OF FAM. TEVILLE, ARKANSA APPROVED HkY,281 1962, TO REZONE CERTAIN REAL ESTATE FROM R4 TWO-FAMILY RESIDENTIAL DISTRICT TO C-2 THOROUGHFARE COMMERCIAL DISTRICT. 's fee ng to in inverse sst. The