Fort Walton Beach Council minutes — 04-05-1966 Special — reading text

89 MINUTES OF SPECIAL MEETING OF CITY COUNCIL OF FORT WALTON BEACH, FLORIDA April 5, 1966 I A special meeting of the City Council, City of Fort Walton Beach, Florida, was held at the City Hall on April 5, at 11: 00 a. m. with the following members present: 1966, W. W. Thompson, r~ yor C. H. Rigdon C. H. Long Joseph W. Guidry Fred E. Tolbert, Jr. H. H. Carnathan Sill L. Rogers, and, City Manager, City Clerk- Finance Director, and City Attorney. Mayor Thompson announced that the meeting was set to receive bids on the following bond issues: 000. 00 General Obligation Improvement Bonds i500, 330, 000. 00 Sewer Revenue Certificates 150, 000. 00 Utilities Tax Revenue Certificates 225, 000. 00 Water Revenue Certificates Mr. Severson of the American National Bank of Mobile, and the City Manager opened the bids and read them as follows: 500, 000. 00 G~ neral Obligation Improvement Bonds Goodbody Wm. R. Hough 1st U. S. Corp. Bache Gross Int. Cost 237, 425. 00 $ 240, 500. 00 216, 800. 00 227, 937. 50 Less Premium 70. 00 I Net Ave. Rate Int. Int. Cost Cost 237, 425. 00 4. 3155 240, 500. 00 4. 3727 216, 800. 00 3. 94181 227, 937. 50 4. 14432 1st. National Bank- Miami 203, 250. 00 none 203, 250. 00 4. 065 40 330, 000. 00 Sewer Revenue Certificates Wm. Hough Co. Goodbody Gross Int. Cost 207, 962. 50 218, 442. 50 Less Premium none none Net. Int. Cost 207, 962. 50 218, 442. 50 Ave. Int. Cost 4. 61882 4. 8516 150, 000. 00 Utilities Tax Revenue Certificates Hensberry & Company Wm. Hough Co. Goodbody 1st U. S. Corp Gross Int. Cost 53, 425. 00 57, 415. 00 58, 950. 00 52, 200. 00 Less Premium none 150. 00 none none Net Int. Cost 52, 200. 00 53, 275. 00 57, 415. 00 58, 950. 00 Ave. Int. Cost 4. 09411 4. 17843 4. 5031 4. 6235 225, 000. 00 Water Revenue Certificates Wm. Hough Co. Goodbody Gross Int. Cost 265, 875. 00 285, 850. 00 Less Premium none none Net Interest Cost 265, 875. 00 285, 850. 00 Ave. Int. Cost 4. 60389 4. 9498 Mayor Thompson recessed the meeting until one o' clock to allow review and tabulation of the bids. A representative of Goodbody asked, since his bids were obviously high, that he be allowed to retrieve his earnest money checks since he needed to catch a plane. ~~. Carnathan moved that this be allowed. Motion seconded and carried. City Clerk commented that 400 notices of sale were sent out. Meeting recessed until one o' clock. Manager asked if Council would consider a special meeting to consider a plat for Bayshore Park, 2nd Addition.  91 Mayor Thompson declared a special session in order at 11: 2U a. m.for the purpose of reviewing plat for Bayshore Park 2nd Addition, whereby the Council reviewed said plat. Manager reported that the plat had been before both the Parks and I Recreation Board, and the Municipal Advisory Board, and that both boards had recommended approval. Mr. Rogers moved that the plat be approved. Motion seconded by Mr. Carnathan, and carried unanimously. Special meeting adjourned at 11: 30 a. m. Meeting of 11 o' clock reconvened at 2: 00 p. m. City Clerk read the low bids as follows: General Obligation Improvement Bonds: First U. S. Corp. Average Int. 3. 941$ 1 Net Cost $~ lb,$ OO. OO Water Revenue Certificates: William R. Hough & Co. Average Int. 4. 01$$ 2 Utilities Tax Revenue Certificates: First U. S. Corporation Average Int. 4. 09411 Net Cost $ 52,~ 00. 00 Sewer Revenue Certificates: William R. Hough Co. Average Int. 4. 003$ 9 Net Cost $~ b5,$ 75. 00 Manager mentioned that the Council question on the bid from First National Bank of Miami on the General Obligation issue had been answered. There had been a mistake in the addition and the figure should be 4. 101$. Long asked Mr. Severson if he felt the bids were in line. Mr. Severson replied that they were, and were very good bids I and thought the Council should accept them. Long moved that Council accept the low bids. Motion seconded by Mr. Guidry, and carried unanimously. Meeting adjourned at 2: 10 p. m. APPROVED: (( L~'/ 9(.. ( MAYOR: ~ . """'"'--- ATTEST: 0'"--- City Clerk z