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HomeMy WebLinkAboutMinutes 02/02/1935 Proceedings of the City Commission of the City of Port Angeles, Washington February 2. 1935 193_ ""'11III 271 I ,ehe Commission met pursuant to adjournment at 10 a.m. and was called to order by Mayor Davis. Roll call showed the folloviing officers present: Mayor Davis, Commission- ers Lutz and Masters, Attorney Plummer and Clerk Hawkins. The matter of further consideration of bids for the ~55,OOO.00 General Obligation Bonds for the reoonstruction of the Eighth Street Bridges over Valley and Tumwater Gulches oame up, and i.t appearing the State Finance Committee of the Sta te of .'1ash ington had prepared a bid on said bonds at their meeting held on January 28, 193,\, and on account of delay in the trail, the said bid did not arrive at the office of City Clerk until the morning of January 31, 1935. . j~he City Commission being desirous to oonsider the bid, Commissioner' Lutz repre- senting the bid filed by the Port Angeles Light Invest~ent Fund, waived all rights relating to the time the State Finance Committee's bid was received and consented to its consideration. The State Finance Committee's bid being as follows: Bid $55,000.00 at par, rate of interest 4i% per annum. Therefore the following Resolution was introduced: I RESOLUTION Eighth Street Bridge Bonds ',.HER:!:AS the Oi ty Commission has now befor", it tv/a bids for the nurchase of the Eighth Street Bridge Bonds, namely; the bids of the Electric Light Investment Fum for the purchase of the full amount of the issue at uar and accrued interest \'lith interest at the rate of 5% per annum, and the bid of'the State of Washington for the purchase of the entire issue of said bonds at oar and acorued interest with interest at the rate of 4!% per annum, I - . r,HEREAS IT AIDPEARS that the bid of the State of Washington is the best arid most favorable bid for said issue, ' THERElcORE, BE IT RESOLV.ED that the City of Port Angeles does hereby aooe,Pt the bid of the -'tate of ,iashington for the purchase of the entire issue of the jHghth Street Bridge Bonds at par and accrued lnterest with the r5.te of interest at 41% per annum, BE IT FURTHER RESOLVED that the ~ity shall sell the issue of said Bonds to the State of ~lashington at the above prices and terms, BE IT FURTHER RESOLVED that the proper Oi ty offioials shall pro ceed to prepare and transmi t the necessary information, pre par e and execute the bonds and do all things which may be necessary to carry out said contract of sale and pur'ohase and complete said sale. . I It was moved by Commissioner Lutz that the foregoing !\e301ution be approved and adopted. Seconded by Commissioner Masters. On roll cMI all members voted aye. The Mayor declared the motion carried. There being no further business the Commission thenadjoul'ned. i ~ \ ?1~~ / I {1-.o".. ",yo,. Ci ty Cler k. I I ~