Min 02/08/1966 836
Wichita Falls, 'Texas
Memorial AuditoriuTA Building
February 8, 1966
Items 1 4 2
The Board of Aldermen of the City of Wichita Falls, 'Texas met in called session
on the above date at 10:30 o'clock a. M. , with the following members present:
J. Winston Niallander Mayor
R. Kenneth hill X
Dr. D. C. Burross j
James M. Davis X Aldermen
Leroy Daniel X
Jack Davis City Manager
Ii. P. Hodge, Jr. City Attorney
Wilma J. Thomas City Clerk
Roy V. (Pete) Claytor Absent
Cletus C. Schenk Absent
The invocation was given by Alderman Burross.
Mayor tVallander stated that the purpose of this meeting was to open bids
on the sale of $3,800,000.00 Water and Sewer Revenue Bonds, Series 1966.
Bids were opened by the City Clerk and read by Mr. Frank PAedanich of the
First Southwest Company in Dallas, financial advisors to the City. Bids received
a
and the average rates of interest are as follows :
Phelps Fenn & Company 3.7329%
Iialsey Stuart & Company, Inc. 3.6977%
The First Boston Corporation 3.74468%
B. J. Van Ingen & Company, Inc. 3.73945%
First Southwest Company 3.7280%
John Nuveen 4 Company, Inc. 3.6381%
Goldman, Sachs 4 Company 3.66277%
The meeting was recessed in order for tr. Medanich to tabulate the bids.
Upon resumption of the meeting Mr. Medanich stated that the bids had been tabul-
ated, and found to be correct as submitted. He recommended that the bid of John
Nuveen and Company, Incorporated, be accepted with effective interest rate of
3.6381%. Mr. Medanich stated this was right in line with the average rate for
"A" rated bonds throughout the United States.
Moved by Alderman Burross that the bid of John Nuveen and Company, Incorp-
orated be approved with the average rate of interest set at 3.6381%.
Motion seconded by Alderman Hill, and carried by the following vote:
Ayes: Mayor Wallander, Aldermen hill, Burross, Davis, and Daniel.
Nays: None
ORDINANCE NO. 2212
ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONUS
Moved by Alderman Burross that Ordinance No. 2212 be passed.
Motion seconded by Alderman Daniel, and carried by the following vote:
Ayes : Mayor IVallander, Aldermen Hill, Burross, Davis, and Daniel.
Nays : None
Moved by Alderman Hill that the meeting be adjourned.
Motion seconded by Alderman Daniel, and carried unanimously.
The Board of Aldermen adjourned at 11 :25 A. NJ.
PASSED AND APPROVED this % day of , 1966.
ATTEST: Mayor
City Clerk