HomeMy WebLinkAbout1934-11-07city council minutes�yo \
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No r e r -- - - - - -- — ° °-
ueinesa appearing a ore a cunt , was, on mot on u y secon a
and carried, declared adjourned.
Maay 1
City Clerk
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COUNCIL CHAMBERS, NOVEMBER 7, 1934.
9 :30 F. M.
A Special Meeting of the City Council met on Lull of the Mayor, with the Mayor,
E. L. Vassar, presiding.
On Roll Call the following Councilmen answered present: Edgar L. Oakes, W. S.
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Boynton, C.E. Bales, G.W. Montgomery, G. M. Fenrich. Absent: W. R. Hollingsworth.
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j, The Mayor stated that the object of the meeting was to consider the bids for
the purchase of 081,000.00 Refunding Municipal Bonds for the City df Caldwell.
Thereupon the Council entered into a discussion and'oonsideration of the bids.
These bids were carefully considered by the Council but no definite action was taken
and the matter was referred to the Finance Committee.
On motion duly seconded and carried the Council was declared adjourned on call
of the Mayor.
Mayor
City Clerk
COUNCIL CHAMBERS, NOVEMBER 10, 1934.
8:00 F. M.
An Adjourned meeting of the City Council mat on call of the mayor, with the
Mayor, E. Lo Vassar, presiding.
On Roll Call the following Councilman answered present: Edgar L. Oakes, W. S.
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Boynton, C.E.Bales, G.W. Montgomery, G. M. Fenrich. Absent: W.R. Hollingsworth.
The Mayor informed the Council that this meeting was called for further con -
sideration of the bids for the purchase of $81,000.00 Refunding Municipal Bonds for the
City of Caldwell.
The Clerk read a telegram from Brown- Schlessman -Owen & Co., offering a bid
for the purchase of Refunding Bonds.
and First National Bank
Councilman; Edgar L. Oakes, explained the Dahlstrom /bid which was the lowest
one offered.
RESOLUTION /
By Bales
Thereupon the following preamble and resolution was introduced by Bales;
Whereas, it appears that Eighty -one Thousand Dollars ($81,000.00),
of outstanding valid legal bonds of the City of Caldwell, optional
January 1, 1935, bearing interest at the rate of five and one -half
percent (5j%) semi - annually and six percent (6 %) annually may be re-
funded to the financial advantage of the City of Caldwell on an
amoritized plan to be due from two to fifteen years, bearing interest
at the rote of four percent (4%), payable semi - annually on January
let and July 1st of each year; and
WHEREAS, The First National Bank of Caldwell, Idaho, and Frank
Dahlstrom & Co., Ina., of Boise, Idaho, are experts in connection
with municipal bonds, and are able and willing and have offered to
perform and prov,L;ipe for the City of Caldwell expert service in
connection with the authorization and issuance of refunding bonds for
the atrove amount, and the Mayor and Council of the City of Caldwell,
Idaho, believe and it is their ,judgment that it will be to the financial
interest of the City of Caldwell to employ expert service in connection
with the refunding of said bonds; and