HomeMy WebLinkAbout07/15/1968 - Special Minutes - City CouncilMINUTES OF SPECIAL MEETING
July 15, 1965
Members present: Mayor D. A. Anderson; Councilmen James H. Dozier, Bill J. Cooley,
0. M. Holt and Dan R. Davis; City Attorney Don Dillon; City Manager Ran Boswell;
and Assistant City Secretary Florence Neelley.
Members absent: Robert R. Rhodes and T. R. Holleman.
Financial Advisor Davis McGill read five bids received by the city for the sale of
$5/0,000, in general obligation bonds. Ernest Brown of Moroney, Beissner & Co.
discussed an alternate bid proposal that was at variance from the bid proposal.
Curtis Adrian of First Southwest Company and Harold Sullivan representing the
First National Bank of Dallas also spoke relative to the bond schedule.
After considerable discussion, Mayor Anderson stated the alternate bid of Moroney,
Beissner & Co. would not be considered.
Councilman Dozier made a motion that, based on the recommendation of the financial
advisor of the sale of bonds, and based on the ability of the city to pay, and
based on the fact that the bonds had been advertised for bid, the city accept the
low bid, if it proves to be low, of the First National Bank of Dallas at the
effective interest rate of 4.6046779. Councilman Holt seconded the motion. Vote
was unanimous in favor of the motion.
Councilman Dozier made a motion that Ordinance No. 552, an ordinance authorizing
the issuance of $540,000. general obligation bonds, series 1965, be adopted.
Councilman Davis seconded the motion. All present voted aye, including Mayor
Anderson.
Councilman Dozier moved the council adjourn subject to call. Councilman Davis
seconded the motion.
1: PPROVED:
Mayor
ATTEST:
Assistant City Secretary
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