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Minutps of Wlnurnnd Ra7uOr N--tAn7
<br />9 Inn"d City lounril.
<br />M,, Zr la, 190 p: 00 P. 14.
<br />1'. c; -f Allori.ance 1-d by Cnuncllm-n Wry Y, 9end-rspri,
<br />Tnvoophion 1nd by Muncilmyn Pnbp-t 4. "ury.
<br />nN Pon rAn, the f0lowQ7 war- nota d 11-ns-nt. CqunnUman Pohrrt H, Pury, Wry
<br />Ronde -son, Prul P. 7covl ny, Horbe-t q. Pet,- -son, John S, Possnll 1 , M-yor Sidney
<br />1. E-rynnr, and Deputy City Clot" larlyn WC-Indle, Councilman Grqn7e- boW noted,
<br />cbsont. "so noted pr - sent T,�-n;.7er Howard C. U12rich, City Attorn-�:,
<br />Pinhord 4, In -d -11r, TsYstRnt City Mono,. -,r Konry V. Purget, Police Chief W!Wnm
<br />Faulsttch, DQnuty City ?no7neer Wivin Moon, Tonin7 Coordinntc- rllrm Shackelf-rd,
<br />Plonnin7 Director Pon Schrontar. luilhim Tnsnector S. H. Traiss, Wntor r,, '1r
<br />Irrnn Mitchn7i and Senior Stano Snndrn G. Pont lrug V.
<br />p4popm np wo OWNW, Ponds for Cor -r-1 Trnrovcment Distri-t -64.
<br />Cltv " ano7,rr rtatod bonds uera oplred pt - :nn p,m,, on nf this d -t-, rity Ole -"Is
<br />ofPice, in arpordanr- -1th ofricip) notice if sale with followin- r-sulto:
<br />(a) Aortas 1, F-v"Was Ponds, in nmount of f,ign,o(oo.
<br />Hot Tnternst Cost iverpre net interest
<br />Bank of America
<br />it r,
<br />"-ylor 0 Company 5.99545
<br />(b) WrW -, Pecirmation 7ands, in .mount of $4,500,000.
<br />Wnt if AMC-Tc,7,
<br />N.T. � 3.0 . X �ssocjifes,
<br />TayJar v Comppny
<br />7,01,AnO-56
<br />Pity Annnar stated thst he would
<br />YnV Porte ysis and recommendption be made Mr.
<br />Don novis. -nprpsentlm City's
<br />financirl onnsult7nts.
<br />Stone A Youn7bern. onrl
<br />Mp. Jpm-s 9-1-t9r. of Danipi, Mrnn.
<br />Uhnson
<br />& Mpndqnhnil,
<br />City's Pn7ineer4n- nn'
<br />m-n---ment nonsult7nts, at this
<br />time.
<br />Mr. Don Davis stated in analysis of bids he felt City
<br />most fortunnto to got the two bids Pt this stp7e of
<br />project. particularly from the VanY nf 'mericp, as they
<br />seldom bid on such Yrre projects. He further stptnd
<br />in compp-Ing these bids to those received in Estero
<br />District Poster City) in similar initial stigns of
<br />the nroject, interest costs had h9en much himher. He
<br />also stc ted futurn bids should be more favor7b3e still
<br />in inter stares of project as development taken pince.
<br />Mr. Davis recommended thvt Council qward bid to Pant of
<br />Americ, and provend Wth the print ins of the bonds necord-
<br />InF to the notice -f snip.
<br />Mr, Wmes Ne"ter Ndvised Counrl� their SUff hod reviewed the low bid submitted
<br />on the bonds and fo"nd thqt the Ynrncin7 costs 4ndiratod by the low bid Pro in
<br />nocordance with and withir the limitptirns of the Wdellnes prpsQntpd in thill,
<br />recommendations for the project.
<br />Ho furthe- stotpd pernentp7n -f nutstandin7 bonds to Frir unr"et Value is 30�
<br />vnd is in nccnrdnnce with the prospectus for the snie ,end "all within thy' AM Or'
<br />Wr Mnrkpt Uplue contempt otod by the Rut doline No, 1; the nPrcnnt,7e of nnnu-1
<br />UK onrvicp h:^. .d on the low bid submitted this afternoon by thp Ron? of Amerinn To
<br />1,441, Yh1ch is well thln tiryutidKUP 2100t.on of 3 .0rpnkmended in thpir
<br />rennrk Up st,tod Staff of DMJN. tbe-pfo-e, felt YnPnr1_n7 costs indicntod ir,
<br />withir thy`' Distrirt: In obi lity to assume and "opay 1 -to debt and neenmm-nded 7nuncil
<br />qutho-On spin if bnnds.
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