HomeMy WebLinkAbout04/19/1926 Business Meeting1
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April 19th,1925.
The City Commission met in regular session, Mayor Dudley and. Commissioners Hedges and.
Traub voting aye on roll. call.
ILiove-d. by Dud.ley,second.ed. by Hedges, that the minutes of the regular meeting of Monday,
April 12th, 1926, be approved. as read.; carried,Dudley,Hedges and. Traub voting aye on roll
call.
Moved by Traub,seconded by Hedges, that this being the time and place for receiving bids
for the construction of a sewer in Block 17 City and is Southern Addition, in Local
Improveinent.-Dt strict No. 420, and the bid of R.A.Geary in the sum of $1837.00 being the
only bid. received. for said work; it is ordered. that the contract be awarded to him and
the rrlayor and. dity Clerk are hereby authorized. to enter into a contract therefor upon
filing the proper bond;carried,Dudley,Hedges and. Traub voting aye on roll call.
ORDINANCE' NO.A- 975,entitled: "An Ordinance providing for the sale of $350,000 general
obligation -bond.s, authorized. to be issued. as provided by Ordinance No-A!-952" of the City
of Yakima,passed. and. approved. December 14,1925, and. providing for the form and details
of the bonds so offered. for sale ", was introduced: by Dudley and: read. by the City Clerk.
Moved by Hedges, seconded by Traub, that Ordinance No.A -975 be passed. to its second.
reading and. read. by title only; carried., Dudley, Hedges and. Traub voting aye on roll call.
Moved by Hedges, seconded by Traub, that Ordinance No.A -975 be passed. to its third
reading and read. in full;carried.,Dud.ley,Hed.ges and Traub voting aye on roll call.
Moved. by Hedges, seconded. by Traub, that Ordinance No.A -975 be passed. as finally read.;
carried.,Dud.ley,Hed.ges and Traub voting aye on roll calls
ORDINANCE NO.A- 976.,entit.l.ed: 11An Ordinance providing for a modification of..the plan of the
Municipal Waterworks System to be acquired. or constructed. as provided. by Ordinance No.A-
918 of the City of Yakima, as ratified by the voters of said city at a special election
held therein on October 14,1925; providing for the calling and holding of a special
election for the submission of such change of plan and declaring an emergency; was intro-
duced. by Hedges and -read. by the City Clerk.
Moved by Dud.ley,second.ed. by Hedges, that Ordinance No-A-976 be passed. to its second
reading and read. by title only;carried,3udley,Hedges and Traub voting aye on roll call.
Loved. by Dudley,seconded. by Hedges, that Ordinance No.A -976 be passed. to its third read-
ing and read. in full;carried,Dud.ley,Hedges and. Traub voting aye on roll call.
Moved by Dud.ley,second.ed by Hedges, that Ordinance No-A-976 be passed as finally read.;
carried,Dud.ley,Hed.ges and. Traub voting aye on roll call.
ORDINANCE NO.A- 977,entitled.: "An Ordinance fixi.ng the time of delinquency of the assess-
ments levied, for the payment of the cost and. expense of the improvements in Local
Improvement District No.396, and providingrifor the issuance of bonds with coupons
attached. for the payment of the unpaid portion thereofwas introduced by Traub and. read.
by the City Clerk.
1,4oved. by Hedges, seconded. by Traub, that Ordinance No-A-977 be passed.. to its second
reading and. read. by title only; carried, Du.d.ley,Hed.ges and. Traub voting aye on roll call.
Moved. by Hedges, seconded. by Traub, that Ordinance No-A-977 be passed. to its third. read.i
and. read. in full;carried,Dud.ley,Hed.ges and Traub voting aye on roll call.
Moved, by Hedges, seconded by Traub, that Ordinance No-A-977 be passed. as finally read.;
earried.,Dud.ley,Hedges and. Traub voting aye on roll call.
RESOLUTION NO.B- 916-,WIEREAS, Notice was given by the City of Yakima that sealed. bids
would be received by the City:.:of Yakima at the office of the City Clerk in the City Hall
of said City of Yakima, Washington,up to 10co'clock A.M. on the 19th day of April,1926,
for the purchase of general negotiable coupon bonds of said City in the principal sum
of $100,000.00 to bear date of April 1,1926, and. maturing serially from two to twenty -fiv(
years, which said notice was authorized by Ordinance No-A-969, passed by the City Commissi
March 10,1926; and
1HEREAS, on said. date the following bids were received:
Bid. of Washington Bond & Finance Company
"For X100,000.00 legally issued general negotiable coupon bonds of the City of
Yakima., said bonds to be dated. April lst,1.926, and to :nature serially in from two to
twenty-five years as set forth in Ordinance Number A -969, said. bonds being of d.enominatior
of $1000.00 each, numbered from one to one hundred. inclusive and drawing interest at the
rate of 42f payable semi- annually.
%Ve will pay $100..40 for each $100-.00 par value thereof and. in addition thereto
accrued. interest from date of issue to date of delivery of bonds to us.
ffe will accept the approving opinion of Rreston,Th.orgrimson & Turner,attorneys of
Seattle,17ashington, as to the legality and. validity of said bonds and. will take delivery
of said. bonds immediately following such approval and.. the execution of bonds by the City
Officials.
The foregoing is
based.
upon absolute maturities as
set forth in
section one of
Ordinance Number A -969.
For
bonds issued. with the option
on the part
of the City to
redeem on any interest payment
date on and after two years
from date we
will pay $100.1.7
for each $100.00 of --par
value
for bonds bearing interest at
the rate of
5% payable semi-
annually ".
69-
in
IX
5
April. 19th,1926.
Bid. of Peirce,Fair & Co.:
"For $100.000 par value General Obligation 'dater Bonds of the City of.Yakim4,
Washington; in denominations of $1000 each dated April lst,1926, and. maturing serially
beginning with the second year and. ending with the 26th year from date of bonds without
right of prior option in such annual amounts as will as nearly as practicable be met by
an equal annual tax levy for payment of principal and interest, said bond s to bear
interest at the rate of 4 per annum payable semi- annually, we will pay you for each
$100 par value thereof at the rate of 100.441 and. accrued. interest to date of delivery
and in addition thhereto furnish you. with blank b ond.s ready for execution.
This bid is unconditional it being understood. that you will furnish the
successful bidder with the unqualified opinion of Messrs Preston, Thdrgkimson & Turner,
Attorneys of Seattle,Washinaton, evidencing the legality and regularity of issue.
In. aceord.ance with your notice of sale and. this bid we attach hereto our
certified. check in the sum. of $5070.00, said check to be returned to us immediately in
event we are not awarded. the bond.s`a
Bid of John E.Price &nCo. and Ferris .& Hardgrove:
"For $100,000 City of Yakima General Obligation Water Bonds to be dated April
1,1926, or as may be otherwise. mutually agreed, and maturing serially from two to twenty-
five years', without option of prioi^ payment, in accordance with the schedule of
maturities as set forth in your ordinance, in denominations of $1,000 each, with interesi
payable semi- annually both principal and interest to be payable at the office of the
City Treasurer in Yakima, or.at the Fiscal Agency of the State of Washington,in New York
City, at the option of the holder.
We will pay for bonds bearing 5% annum, at the rate of $1,010.25 for each
$1,000 par value thereof, plus accrued interest.
This offer is made from prompt acceptance and, with the further understanding
that, prior to delivery of these bonds and our payment therefor you agree to furnish us
with a certified transcript of all proceedings had. incident to the issuance thereof;
together with final legal approving opinion, of Messrs.Preston,Thorgrimson and Turner,
Attorneys of Seattle, evidencing the regularity and legality of the bonds or in lieu of
said. approving opinion, our own attorneys are to be satisfied as to the regularity and.
legality of the issue,prior to our taking up the bonds.
As evidence of good faith, we enclose herewith our certified check for
$5,051.25, same to amply on purchase price of said. bonds if they are, awarded. hereunder
and. delivered to is within t -wenty -nine days of the acceptance of this bod. Otherwise,
or in event ouir attorneys do not approve said bonds or you do not furnish the legal
opinion above Mentioned., said check is to be promptly returned to us upon d.er;land.."
AND WT ERFAS it appears to the City Commission that. the -bid. of Washington Bond
& Finance Company is the best. bid therefor.
NUTI THEREFORE, B:r' IT RESOLVED BY Thy' CITY COMIiMISSION OI' THE CITY OF YAKIIV"A,
WASHINGTON:
That the bid of Washington Bond & Finance Company be, and the sane is hereby,
accepted. and, all other bids are hereby.. "rejected.
PASSED F.- THE CITY COlTMISSION,Signed. and. Approved this 19th day of April,1926.
Illm.B.Dudley,
I�.1ay o r. .
(SEAL)
Attest: Pearl Benjamin,
City Clerk.
Loved by Hedges, tiecond.ed. by Dudley, that Resolution No.B -916 be adopted. as read.;
carried.,Dud.le,y,Hed.ges and. Traub voting aye on roll calla
Moved by Hedges, seconded. by Dud.letr, that the following claims be allowed. and. the City
Clerk authorized. to issue warrants therefor; carried.,Dud.ley,Hedges and Traub voting aye
on roll call.
Total...... U50
Park and. Playground
No. 1587 Dan Bean $8.00
1588 White Front Shop 3.75
Total....... $11.75
L.I.D. Revolving,
Warrant No. Name Amount
No. 2006 City Treasurer $4.92
Loved by Dudley, seconded. by Hedges, that we do now ad.j ourn; carried., Dudley, Hedges and
Traub voting aye on roll call.
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Attest•
City Cle
Mayor .
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Current Expense
Warrant No.
Name
Amount
No.38642
111m.B.Dudley
$2.37
43
F.O.Hansen
1..08
44
J .McDonald.
15.00
45
Troy Laundry
3.90
46
H -Wise
2.00
47-
Western Union
.88
48
P.?. & L Co.
10.00
49
Hassett -Nash Motor Co.
19.25
Total...... U50
Park and. Playground
No. 1587 Dan Bean $8.00
1588 White Front Shop 3.75
Total....... $11.75
L.I.D. Revolving,
Warrant No. Name Amount
No. 2006 City Treasurer $4.92
Loved by Dudley, seconded. by Hedges, that we do now ad.j ourn; carried., Dudley, Hedges and
Traub voting aye on roll call.
J
Attest•
City Cle
Mayor .
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