HomeMy WebLinkAbout1975-03-04 Minutes250
on March 4 for the purpose of receiving bond bids and awarding the bid
if necessary. The Board approved Mr. Grimes' recommendation. Mr. Todd
stated that he would not be able to attend the meeting.
ADJOURNMENT
250.1 There being no further business, the Mayor, with approval of the Board,
adjourned the meeting.
ATTEST:
Lakta•A-40--6-1C
arlene Westbrook, City Clerk
APPROVED:
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Marion R. Orton, Mayor
MINUTES OF A SPECIAL MEETING OF THE BOARD OF DIRECTORS
March 4, 1975
The Board of Directors of the City of Fayetteville, Arkansas met in a
special session on March 4 at 11:30 a.m. in the Director's Room of the
City Administration Building.
Present: City Manager Donald Grimes; City Attorney Jim McCord, Darlene
Westbrook, City Clerk; and Directors Marion R. Orton, Ernest
Lancaster, Paul Noland, Al Hughes, Russell Purdy, and Morris
Collier.
Absent: Administrative Assistant David McWethy and Director John Todd
Others Present: Pat Tobin, City Controller; Mr. Jerry Pierce, financial
advisor; and representatives of the news media.
CALL TO ORDER
250.2 Mayor Marion R. Orton called the meeting to order and explained that
the special meeting was being held to close the bond bidding and to open
the bond bids received.
250.3 The floor was then yielded to City Controller Pat Tobin who introduced
Mr. Jerry Pierce, fiscal agent of the First Southwest Company of Dallas.
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The bidding was declared closed and Mr. Tobin opened the bids received.
The bids were:
Parham, Matthews g Company, Inc.
Weeden $ Company,Inc.
Rauscher Pierce Securities, Corp.
T. J. Raney & Sons, Inc.
•
6.8699520
6.71240
6.787587%
7.047495%
After a short recess in which Mr. Tobin and Mr. Pierce evaluated the
bids, Mr. Pierce informed the Board that, in his opinion, the bid of
Weeden $ Company, Inc. was the best bid and that the'bid•:was in conformity
with the official notice of sale. He recommended that the Board accept the
Weeden bid and pass the resolution awarding the bid and naming the paying
agent.
Following discussion, the City Attorney read the resolution approving
the sale of the waterworks and sewer revenue bonds, series A, authorized
by Ordinance 2074; and approving the designation of the Republic National
Bank of Dallas, Texas as Trustee and Paying Agent. Following the reading
of the resolution, Director Lancaster, seconded by Director Noland, motioned
that the resolution be adopted. Following further discussion, Mayor Orton
asked if the resolution should pass. The recorded roll call vote of the
six directors present was unanimous and the Mayor declared the resolution
adopted.
RESOLUTION NO. 13-75 APPEARS ON PAGE 129-132 OF ORDINANCE $ RESOLUTION BOOK IV
OTHER BUSINESS
The City Manager informed the Board that the proposed social services
programs under the Community Development Block Grant Program might not be
eligible for grant money and recommended that the city submit a Plan "A"
which would include the social services programs and a Plan "B" which would
not include the social services programs. After slight discussion, the
Board indicated its approval of the recommendation.
The City Manager then called the Board's attention to correspondence
received from Mr. Sterling Cockrill concerning acquisition of the old Post
Office Building in which Mr. Cockrill stated that the city's plan for the
acquisition of the building appeared to be feasible.
City Attorney McCord reported that some adjustments had been made in
the calculation of the total assessed value of the Off -Street Parking
Improvement District petition which 'was found to be insufficient at the
March 3 special meeting but that the adjustments did not affect the
petition in that it still remained insufficient. Mr. McCord advised that
the adjustments made were filed for record with the City Clerk.
ADJOURNMENT
There being no further business for the Board's consideration, the
Mayor,upon approval of the Board, declared the meeting adjourned.
ATTEST:
APPROVED: `
Marion R. Orton, Mayor
h
Darlene Westbrook, City Clerk 251
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