HomeMy WebLinkAbout02-20-1948 Minutes0
PASCO,WASHINGTON
I4t123
RECESSED MEETING COUNCIL CHAMBER FEBRUARY 20,1948
CALL TO ORDER:
Meeting called to.order at 2:40 o'clock P.M., Honorable Mayor W.A.Nelson presiding
presiding.
ROLL CALL:
By Clerk, Councilmen present were John Beck, Art Glasow Jr., A.T.Hostetter,
H.G.Lake and C.R.Wallis, absent Charles Grigg and T.G.Overlie also
City Attorney D.W.Zent.
RECESS:
BOND ISSUE FOR COMPLETION OF FILTRATION PLANT:
John W.,Cunningham of the John W -Cunningham & A.ssociates and Geo.Kinnear
of the Graves,Kizer and'Graves were present to discuss further developments;
Cancellation of $155,000.00 unissued bonds was discussed at length. Mr.
Cunningham & Mr.Kinnear were in accord that these bonds should be cancelled
and for various reasons.
Motion made by Hostetter and seconded by Lake that the $155,000.00 out standing
and unissued water revenue bonds be cancelled and that Graves,Kizer and Graves
be instructed to draw an Ordinance for cancellation,motion carried by roll call
vote of five (5).
NEGOTIATIONS for bond purchasing of $200,000.00 was thoroughly*'d.iscussed,
motion made by Beck seconded by Glasow to,accept the renewed offer.of
Wm.P.Harper & Sons & Company and Associates as set forth in letters of
February 17th and 19th,1948;"Bond bearing interest rate of 3.23 % is
conditioned on the cancellation of unissued bonds"' immediate acceptance and'
printed bonds to be furnished without cost to the City and all terms of
Wm.P.Harper & Sons & Company and associates. Motion Carried by Roll Call
vote of Five(5).
A saving of $4,172.80 will be realized by the City through this decision.
INTRODUCING ORDINANCE FOR. CANCELLATION:
Ordinance cancelling 4155,000.00 water sewer bonds to be ready by
February 25,1948.
Motion made by Beck seconded by Lake that the meeting recess to Wednesday 2:30'
o'clock P.M., February 2.5,1948. Motion carried.
ATTEST:
City C k
Passed and approved this Q o�
day of 1948
i
City Clerk