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HomeMy WebLinkAbout2596_CCv0001.pdf RESOLUTION NO. 2596 RESOLUTION OF TIM nIOTTY COUNCIL OF THEE CITY' OF RED1- A CALIFORTNIA AWARDINIG $ 1,500- 000 BONDS OF SAID CITY TO THE BES` BIDDER AND REEJEICTI]NG ALL OTHER BIDS. WIE,REAS,. at the ti-me and place fixed for the - opening of 1 bids for the $ D00.1000 bonds oshe f CitY of Red1cands , California, designated 11126Z WATER REVENUE BONDS.. SER-1.FSA Is and numbered I to 300 both inclusive, all bids were publicly opened, exat-mined and read, and a tabulation thereof has been entered in the minutes- and 3 WAREAS, the bid of the bidder hereinafter named is the best bid made by a responsible bidder for said bonds; NOW, TIFIERU-33FORE the City Council of the City of jq Q Redlands California, DOES HER-EBY RESOLVE,, DEMR- MINE AND ORDER as follows: Section 1. That the bid of Mei--rill Lynch, P-P ercc, Fenner & Smith, Inc. offering par, accrued. interest to date cf delivery and a premium of $ 462. 00 . for bonds bear-Ing interest pay- able annually the first year and semiannuai--Ly thereafter at the rate(s) of: Rates Years 5. 50 1 580 1.8 74 3 . 50 1975 to 1.9 82 3 .80 1997 to 19 to 19 % u to 19 is the bid for said bonds yielding the lowest net interest cost. Said bid is hereby accepted and the bonds awarded to said best bidder in accordance with the terms of the proposal. Section 2. That all bids other than the one accepted in Section 1 hereof are rejected and the City Clerk is directed to return the checks accompanying said rejected bids to the respective bidders. Section 3. That the interest rate(s) on said bonds is (are) hereby fixed at the rate(s) stated in Section 1 hereof. Section 4. That the City Treasurer is hereby directed to deliver said bonds to the successful bidder upon payment therefor and accrued interest, if any, to date of delivery. ADOPTED, SIGNED AND APPROTED this 4th day of ApEi s fig 67 . Y!ao r of the kY of like"TTands California ATTEST: City Pet of the c1:' Red anti, California. (SEAL) STATE OF CALIFORNIA COU 'TY OF SAN BERN ARDINO CITY OF PEG-GY A . MOSELEY City Clerk of the City oT Redlands Ca-1-11"norn4a, DO HEPZBY CERTIFY that thii�i' rt�j8t��gre=o--Luti'on was duly adopted by the City Council of said city and was approved by t"the Mayor of said city at a regular meeting of said City Council held �3—n the A-th day of L� 19 _Zril _�7 and that it was so adopted as follows : pl AYES : Councilmen Martinez, Hartzell, Cuni7r,-J-nas, ..De-%,T-irjyn,, mayor Burrouighs NOES : Councilmen Nene AB3ENTe Councilmen None of tNZ-M11t-y:q-cf, 8T ei:k c I t (SEAL) !��Clian-ds . Californ- MT�TES of a regular meeting Of the City Council Redlands, held in the n 2e Brookside Avenue , City of Council Chambers on April q S afety Hall, PRESENT 1967 at 7:00 P.M. Waldo F. Burroughs, Mayor Norman N. Martinez William T. Councilman Jack Hartzell, Councilman Charles GDe Councilman 7yn, Councilman Ralph p. Merritt Edward F. Taylor, Jr. , City Manager Peggy A. Mosele City Attorney Herb s . Pasik y, City Clerk Chuck • Redlands Daily Facts AB�--�Ems` Palmer, San Bernardino Sun None The meeting was opened with the followed by the invocation b pledge Of allegiance, Pastor of the Temple a y Reverend William Baptist Church. H. Bell, The minutes of the adjourned regular meetregular meeting of March 21 and the Proved as submitted. g of March zg 1967 were ap- B` IDS The opening of b ' Series A" , having bids for the "1967 Water Revenue date, was t been advertised for 7, 30 P. Bonds, tabled to that time. M. this PLANNING COMMISSION RECOMMENDATIONS Lot S lit No. 376 - Harold H. Nickerson - Final A royal All provisions as contained in Final October 4, 1966 having been complied� minutes dated recommendation of the Planning with, it is the Lot split proval be given for Lot Department that final ap- No. 376 Councilman Hartzell Split No. 376. On motion of the recommendation ofthe by Councilman Cummings, ed by the Planning Department was adopt-- City Council , PETITIONS Mayor Burroughs at this time brought to Council a tion a petition si be ed by 136 citizens re tten- the present given to westing that every consideration Redlands promoting from within new Chief to replace City Police Staff, in selecting a retiring Police Chief. Page one - April 4, 1967 COMMUNICATIONS Mayor Burroughs read pastor of the a letter from Reverend Paul Christian and Missionar Kirk, expressing awareness Of Y Alliance Ponsibilit the seriousness Church, that selection choosing a Police of the res_ be made from within the and suggesting Also a Letter from the the department. Safety expressingState Division of Mr. Sam Marraccaappeciation for Industrial s work in hel the recognition of Redlands Electrical ping to develop Ordinance No. 1334. the Manager Merritt presented a re No. 300, Free and Acte ted quest from Redlands Lod Hawaii, requesting PermissionedMsons of California and Lodge Orange Street between to hang a banner Banners Drugstore Street building the La Posada across to announce Public and the Rexall Council reviewed the complexities Schools Policy Study within the Cit relative meek` in RedlandsY• a Program which has to banners for 7 years. not been carried on for the Masons, withdrew tMr. Carl Anderson year with the understandin request for speaking studied with the g that the Permission this Possibility of establishing tter would be to control City Policy Y in this matter. g a framework the staff Cummings, seconded b On motion. of was instructed Y Councilman DeMir ' banners across to study the regulating Qin, carried unanimoPyic rights-of-way in Redlands , UNFINISHED BUSINESS Motion. The study is still under way quenting pool rooms. Y concerning juveniles manner in which Consideration fre_ will be cities this is currently handled in given to the and this report will be available other date, NEW BUSINESS at a later Councilman Cummings reported that he attended 1967. g as a member of that board his Last REDCO At that time it was unanimous) °n March 3p, to include the Cit Mayor or his representative,Of Redlands in the voted to continue Of Commerce and the Planning, and the In manager of the coerce will be asked PQesident of the Chamber of Chamber officio membra_ Com- continue as ex Manager Merritt members. franchise announced the receipt of the following Payments: Southern California South Gas Co. $27, 788. 81 .ern California Edison CO.Page two $11, 270. 20 April 4, 1967 BIDS - At this time Council bids. again turned their attention to the This being the time and bids for $1, 500, 000 bonds fixed for California of the Cit the opening of designated "1967 Water Y of Redlands, Series A, " the followingRevenue Bonds, the notice of sale were bids received Publicly opened, examinednandoread• Merrill Lynch, . Associates bid Pierce, Fenner & Smith, Par, accrued interest toldate ofddeliv- ery, and a premium of $462. 00 for bonds bearing inter- est Payable annually eofirst year and Semiannually thereafter at the rates Rates 5. 5o% YLears Water 3 . 50% 1968 to 1974 Revenue 3.8o% 1975 to 1982 Bonds 1997 White, Weld and Company bid par, accrued interest to date of deliver bearininterest and a Premium of $174. 50 for bonds semiannuall te payable annually e Y thereafter at the rates of: year and Rues 5. 50% Years 3. 90% 1968 to 1974 3. 50%, 1975 3. 90% 1976 to 1982 & Com B1 th 1997 Y Company, Inc, and Associates bid for bonds bearing delivery, and a Par• interest to date of accrued g interest Premium of $15. 00 Payable annually the first Year and semiannuall Y the at the rates of: Rates 5. 00/ Years 4.40% 1968 to 1975 3 . 50% 1976 3. 90% 1977 to 1982 1997 John Nuveen & Co. , Inc. . ties & hearson Eastman Dillon, Union Co. ,` H�i11 & Co, , Securi- bid par, accrued interest to date Of delivery,Tylor & Co. premium of $74. 00 for bonds bearing annually and a the rates tof: first year and semiannuall theinterest payable Y thereafter at Wage three - April 4, 1967 BIDS (Continued) Res 5.00% Years 4. 25% 1968 to 1971 4. 00% 1972 3.60% 1973 t - 1976 4. 00% 1977 to 1982 1997 " Each bid was accompanied b amount not less than Y a good faith check in an $20, 000.Q0, All bids were then referred to a three-man committee for checking and computation, a report thereon to be given to the Council Yater in this meeting. The committee appointed to check and compute th on the bands for which bids were Opened previously during this meeting reported that the bid ofLyne bids the on net interestce, Fenner Smith, Merrill Inc• is the bid yielding t cost: $1, 298, 063. After considering the various bids and the report there- on, h _an, it was moved by Councilman Hartzell and seconded by Councilman DeMir ' "Resolution of then that Resolution No. 2596 entitled City Council of the City Of Redlands, California, awarding $1, 500, 000 Bonds of the Best Bidder and Rejecting Said City to adopted. g All Resolution Other Bids, " be No. 2596 Upon the following vote: Sid AYES: Award Councilmen Martinez, Hartzell DeMirjyn, Mayor Burroughs Cummings, NOES: None ABSENT: None said Resolution No. 2596 was declared adopted. -.CITY MANAGER Manager Merritt brought the following bud for the Department of Building and Sget requests Safety: Additional Mote' overhaul Appropriation Purchase additional code books$ 200.00 Salary deficit due to o $ 500.00 Overlap 1 .364.00 Page four - $2,064.00 April 4, 1967 CITY MANAGER (Continued) On motion of Councilman man Martinez, this additionalHartzell, seconded b to be financed from bud appropriation wasoanczZ- get surplus, generalpproved, er Mana fund, 9 Merritt brought to Council damages filed by Col. William 1 . attention a claim for Claim view Drive, with the recommendation 1411 Pleasant- handled mmendation that this claim be cit and referredtoroutine emcity, Williams that is, denied by Coun- motion of Councilman city, , insurance carrier. On Hartzell, Martinez, seconded b adopted b the recommendation of the y Councilman y the Council. city Manager was At this time Mana seriousness er Merritt described his Personal responsibility awareness of the duty of selecting a man to r ponsibility in his Stanley R. Bowen. re retiring Police Chief He explained the manner in which ap- plications were filed, six most the oral examination senior qualifiedOfficers applicants - includinggiven the the ver g of the Redlands Police Departmentee Y ec h competence of the interview board, - and was his recommendation, followin a review of g individual It recd qualifications and consideration recommendation mmendation of the oral board, Police of Redlands be Robert that the next Area fns I . Graefe Chief of Inspector of the San Bernardino who is presently Following Sheriff, s Office, Council discussion, which included an expreS_ si.on of appreciation for the concern Redlands ' have shown regarding the re Appointment the of the great replacement of citizens Police Chief chief Bowen; Bowen; gratitude for the cooperationp hments of ef Persons connected with this and effort of all knawledgment of the expressionaofalooaltand s Captains special ac- Police Department; and Poe of the made by seconded b on motion of Councilman CummingsRedlands the Cit a Councilman Hartzell, the recommendationofvote; Y Manager was adapted by the following roll call AYES: Councilmen Martinez, Hartzell, Cummings, Mayor Burroughs NOES = Councilman DeMirjyn ABSENT: None Bills and salaries were ordered paid as approved Finance Committee. by the Page five - April 4, 1967 w. A qs . A i No further business on motion on attention , the Council adjourned at 8. at this time, regular Next re 50 P.M. r meeting • . April 18, 1967. Respectfullysubmitted, State of California erk Page six - April 4, 1967