1964-12-03 CITY COUNCIL SPECIAL MEETING MINUTES 124
A special meeting of the Pearland City Council was held on Thur--
day December 3, 1964, at the City Hall, 1)1)129 Texas Avenue, with
the following city officials and guests in attendance .
Mayor John G. Kegley, Councilmen Thomas P. Alexander, Steven A.
Shukanes, Victor A. Nolen,, Gene E. Sanders, City Attorney Jack Harrison,
City Engineer William C. Walsh, City Secretary W. A. McClellan, City
Auditor P. L. Marquess and City Fiscal Agent D. N. Eddleman.
Guests : David L. Smith, Jr. , Lloyd J. Yost, E. T. Gibbons, M. N. '
McGlathery, Jack B. Idoux, Bob Lee, Jim Inman, Kelly Sims, C.
Cunningham, Dr. D. R. Armbruster and R. E. Wright.
Mayor Kegley called the meeting to order at 7:30 P. M. and explained
that the meeting had been called for the purpose of opening bids
and selling bonds for waterworks and sanitary sewer system improve-
ments in the amount of S800,000.00 and for other matters that might ✓
be properly brought before the Council.
r
Mayor Kegley stated that Officer James McLaren had more than served
his probation period and was now a resident of Pearland and that
Chief Casey had recommended that he be given a $25.00 raise.
Motion made by Nolen, seconded by Shukanes, that Officer McLaren be
given a $25.00 salary increase beginning December 1, 1964. All
Councilmen voted "aye" with no "noes . " Motion carried.
Motion made by Alexander, seconded by Nolen, that Ordinance No. 102,
AN ORDINANCE ESTABLISHING SPEED LIMITS DURING CONSTRUCTION ON A
PORTION OF STATE HIGHWAY NO. 35 WITHIN THE CITY LIMITS OF YEARLAND,
TEXAS , AND PROVING A PENALTY FOR THE VIOLATION THEREOF, be passed.
All Councilmen voted "aye" with no "noes . " Motion carried.
The following bids were opened and tabulated as follows :
Bidders Rowles, Winston & Co. , Inc . , Dittmar & Company, Inc. ,
Rotan, Mosle & Company, Inc. By Rowles, Winston & Co. , Inc.
$80,000.00 Bonds maturing 1971 through 1975 @ 5.00
225,000.00 Bonds maturing 1976 through 1983 @ 3.60
100,000.00 Bonds maturing 1984 through 1986 @ 3.3/4
230,000.00 Bonds maturing 1987 through 1991 @ 3.80 %
165000.00 Bonds maturing 1992 through 1994 @ `3:90 -
Total Interest Cost from 12-1-64 $635,017.50
Less Cash Premium - 0 -
Net Interest Cost 635,017.50
Effective Interest Rate 3,82886%
Bidders : 'M. E. Allison & Co. , Moroney, Beissner & Company. , Inc . ,
Townsent, Dabney & Tyson, Dallas Rupe & Sons, Inc . - By Moroney,
Beissner & Company, Inc.
$345,000.00 Bonds maturing 1971 through 1984 @ 4%
140,000.00 Bonds maturing 1985 through 1988 @ 3 3/L%
150,000.00 Bonds maturing 1989 through 1991 @ 3.85%
165,000.00 Bonds maturing 1992 through 1994 @ 3.90%
Total Interest Cost from 12-1-64 $645 497.50
Less Cash Premium 210.00
Net Interest Cost 6)1)1 ,989.50
Effective Interest Rate 3.88899%
Bidders : Rauscher, Pierce & Co. , Inc. , First Southwest Company.
$235,000.00 Bonds maturing 1971 through 1981 @ 4%
140,000.00 Bonds maturing 1982 through 1985 @ 3.80%
160,000.00 Bonds maturing 1986 through 1989 @ 3.85%
265,000.00 Bonds maturing 1990 through 1994 @ 3.90%
Total Interest Cost from 12-1-64 $645,215.00
Less Cash Premium - 0 -
Net Interest Cost 645,215.00
Effective Interest Rate 3.8903
125
Bidders : Eddleman, Pollok & Fosdick, Inc. , McClung & Knickerbocker,
Inc.
$140,000.00 Bonds maturing 1971 through 1978 @ 4%
205,000.00 Bonds maturing 1979 through 1984 @ 3 3/4%
95,000.00 Bondsmaturing 1985 through 1987 @
360,000.00 Bonds maturing 1988 through 1994 @ 3.90%
Total Interest Cost from 12-1-64 $640,901.25
Less Cash Premium - 0 -
Net Interest Cost 640,901.25
Effective Interest Rate 3.86434%
Motion made by Shukanes, seconded by Nolen, that Ordinance No. 103 -
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $800,000.00 WATERWORKS AND
SANITARY SEWER SYSTEM IMPROVEMENT BONDS, SERIES 1964; PRESCRIBING THE
TERMS AND PROVISIONS THEREOF; TEVYING TAXES TO PAY THE INTEREST ON
AND PRINCIPAL OF SUCH BONDS ; AWARDING THE SATE THEREOF; CONTAINING
OTHER PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT THIS
ORDINANCE SHALL BE 'EFFECTIVE UPON AND AFTER ITS ADOPTION, be adopted.
All Councilmen voted "aye" with no "noes ." Motion carried.
Motion made by Shukanes, seconded by Nolen, that all checks be
returned to the unsuccessful bidders . (Receipts signed by Mr.. D.
N. Eddleman. ) All Councilmen voted "aye" with no "noes . " Motion
carried.
Motion made by Sanders and seconded by Shukanes, that Council request
the Drainage District to install drainage tile in the drainage ease-
ment crossing Hampshire Drive located in Sherwood Subdivision. All
Councilmen voted "aye" with no "noes.' Motion carried.
Meeting adjourned at 9:30 P. M.
Minutes approved as read and/or corrected this the /O day of
1964•
Attest :
c %`"'
City Secretary Mayor