Loading...
HomeMy WebLinkAboutCity Council Minutes 10.14.1938Minutes of the City Council of Laurel October 14, 1938 �.. The City Council of the City of Laurel met in a regular ad j o ,rned. session i the Council Chamber and was called to order by Dr. Io N. Smiths President of the Council, a 7:30 o t elock p. M. October 141, 1938. Upon roll call the following aldermen answered. present Geo . H . Smith Do I. scoarse Peter Do Thomsola e o , Graves A* C. Law This bei.ng the time set for receiving bids for $22,000.00 of Genera. eater Bonds, Series 1938, the City Clerk produced proof of p bl io at ion in the Laurel outlook and read said notice,, Bids were received as follows: Public Works Administration of the United States Gower=e t bid par plus ac c rued. Interest., said bonds to bear interest at 4 per annum., payable se ismannual ly on Febr ar Ist and August is t .. of each year, payable $1,000.00 1939 to 1957 and 13pOOO.00 1958. The Yellowstone Bank of Laurel., Montana,, bid par with a premium of $25*00., pl s accrued interest, said bonds to bear interest at 4 per annum payable semis -annually on February lst and August lot of each. year, payable $1,OOOoOO 1939 to -57 and $3,000.00 1958 Bids having been considered by the Council, it was determined that the bid of the Yellowstone Bank of Laurel,. Montana, was the beet bid received for the said bonds aiid said bid was adjudged the most advantageous to the City of La se l o Whereupon, it was moved b Scoarse and seconded by Geo. Smith that the bid of the Yellowstone Bank of La.urelo Montana, be accepted and that the bonds be sold to said bank in accordance with the terms of its said bid, and proposal* and that the Mayor, City Clerk and City Treasurer be authorized and directed to --execute and deliver said bonds totaling- $22, -000to0uo rec-eipt of o , atdn:..of ..$22., 000 00 plus premium of$25,,00,and ac ued interest to date of delivery, Upon roll call all aldermen present voted aye and said. motion was declared passed and adopted. It was moved by Thoinson and seconded by Scoarse that the Genera. Water Bonds, Series 1938, frons one to twenty-two, both. inclusive. for §22$000*00$ be, and the same hereby are, approved ed as security for City deposits in the Yellowstone Bank of Laurel, Montana; and the City Treasurer be, and he i s , hereby authorized to. accept the same as security for said. deposits. Upon roll call all aldermen present voted aye and said motion ion was declared passed and. adopted. RESOLUTION NO, 517 Resolution No. 517 , being a resolution appropriating $22.,025.00., proceeds of the sale of General Water Bonds , Series l'� 8,. of the City of Laurel, Montana, to be used in the construction of ,_ a.te ` ain. s and appurtenances thereto, under P.W.A. Project No* MontA 148v F was presented and read, It was moved by Thomson and seconded by Scoarse Resolution No. 17.'�be passed and adopted,, Upon roll call all aldermen present voted aye and said resolution was declared passed and adopted. It was moved and seconded we do now adjourn, The motion carried., City Clerk, Approved this 18th day of October., 1 Mayor , ATTEST SOON it er .