Min 02/16/1965 727
Wichita Falls, Texas
Memorial Auditorium Building
Items 1 £, 2 February 16, 1965
The Board of Aldermen of the City of Wichita Falls, Texas, met in called
session on the above date in the Council Room of the Memorial Auditorium Build-
ing at 10:30 o'clock A. M. , with the following members present:
J. Winston Wallander Mayor
Kenneth Ifill
0. U. McBride
Leroy Daniel X Aldermen
Roy V. Claytor X
Cletus C. Schenk
Jack Davis City Manager
H. P. Hodge, Jr. City Attorney
Wilma J. Thomas City Clerk
U. Clifford Burross Absent
The invocation was given by Alderman Claytor.
Mayor Wallander stated that the purpose of this special meeting was to
award the bids on the $6,000,000.00 General Obligation Bonds for the new city
reservoir.
Before opening the bids for the sale of bonds, Jack Davis, City Manager
stated that it was his recommendation that the bid opening for the reservoir
construction be changed from February 23, to March 9 for three reasons: (1)
difficulty in land acquisition (2) a pre-bid conference is needed between
the engineer and all bidders (3) more detail needed in certain areas.
Moved by Alderman Claytor that the date of the bid opening for the new
reservoir be changed from February 23 to March 9 at 2 P. M.
Motion seconded by Alderman McBride and carried unanimously.
Item 3
Bids on the $6,000,000.00 General Obligation Bonds were opened by the
City Manager, and read by Mr. Frank Medanich, of the First Southwest Company.
V, Bids received and the average rates of interest are as follows:
Goldman Sachs t Cow an New York 3.1386
P' Y,
John Nuveen 4 Company 3.0950
Republic National Bank of Dallas 3.126984 %
Lehman Brothers 3.1493 %
First National Bank of Chicago 3.0949412 %
First Southwest Company 3.1228 %
Morgan Guaranty Trust Company of New York 3.10965
Valley National Bank of Arizona 3. 11338 %
Halsey, Stuart U Company, Inc. 3.1185
Aercantile Trust Company 3.16336
First 1"i'ntional Bank in Dallas 3.1204761 %
Continental Illinois National Bank F Trust
Company of Chicago 3.10904 %
The meeting was recessed at 9:50 in order for 11r. Frank Medanich to
tabulate the bids. At 10:10 Mr. Medanich stated that all bids were checked
and found to be correct. First National Bank of Chicago was the low bidder
with 3.0949412%.
ORDINANCE NO. 2155
ORDINANICE AUTHORIZING TILE ISSUANCE OF GENERAL OBLIGATION BONUS.
Moved by Alderman Schenk that Ordinance No. 2155 be passed authorizing
the issuance and sale of bonds to First ;National batik of Chicago.
728
Item 3 cont'd
Motion seconded by Alderman Hill and passed by the following vote:
Ayes: Aldermen Bill, McBride, Daniel, and Schenk
Nays: None
Frank Medanich stated that these 12 bids represent approximately 200 bond
dealers and banks in the United States.
Moved by Alderman Claytor that the meeting be adjourned. ,
Motion seconded by Alderman then adjourned at 11:15 A. M.
PASSES AND APPROVED this; :day of , 1965.
Mayor
ATTEST:
City Clerk