HomeMy WebLinkAbout03/14/1966 Business Meeting 136
March 14,. 1966
The Council met in regular session, Mayor Larson presiding, Councilmen Brazier, Brown,
Kurbitz, Lambert, Lynch and Robinson, City Manager Smith and City Attorney Andrews present
on roll call.
The Invocation was given by Councilman Kurbitz.
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The minutes of the regular meeting of March 7, 1966, having been duly certified accurate by
two councilmen and no one present wishing to have said minutes read publicly, Mayor Larson
declared said minutes approved as recorded.
This being the time set for the hearing on Resolution No. D -919, being a resolution of in-
tention to create a local improvement district to improve property by constructing a water
main in the vicinity of S. 42nd Avenue - Mount Vista Addition, and there being no protests.,
in writing or otherwise, it was MOVED by Brown, seconded by Lambert that Ordinance No. 7$2
creating L.I.D. No. 951, be passed as read: carried, Brazier, Brown, Kurbitz, Lambert, Lar-
son, Lynch and Robinson voting aye on roll call. .
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ORDINANCE NO. 752, AN ORDINANCE providing for the improvement of certain property by con-
structing the necessary mains, fire hydrants, valves and other appurtenances . for the purpos::
of supplying water for domestic use and fire protection; establishing a Local Improvement
District, providing for the method of payment thereof, and creating a special fund.
A Notice of Intention to commence annexation proceedings, having been filed with the City
Clerk on March 9, 1966, by Pete L. Calza for property located on the southwest corner of
Laurel Street and North 6th Avenue, and Mr. Calza being present at this meeting, it was
MOVED by Lynch, seconded by Robinson that this date, March 14, 1966, be set as time of meet -
• ing with the initiating party: carried, Brazier, Brown, Kurbitz, Lambert, Larson, Lynch and
Robinson voting aye by voice vote. Mr. Calza, having stated to the Council that the area
to be annexed is willing to assume its share of the city's existing indebtedness, it was
MOVED by Lynch, seconded by Lambert that the annexation proposed by said party be accepted
by the City of Yakima and that the area to be annexed be required to assume its share of
the city's existing indebtedness: carried, Brazier, Brown, Kurbitz, Lambert, Larson, Lynch
and Robinson voting aye by voice vote.
Petition No. 452, having been filed with the City Clerk on March 7, 1966, by Henry Hamberg
and Others, requesting construction of a sewer in the vicinity of the Coonse State Addition
south of King Street and West of Cornell Avenue, it was MOVED by Robinson, seconded by
Lynch that saLd Petition . be referred to the City Manager and Staff for study and recommendal
tion: carried, Brazier, Brown, Kurbitz, Lambert, Larson, Lynch and Robinson voting aye by
voice vote. (This property is to be annexed under Petition No. 450.)
Petitions having been filed with the City Clerk as follows:
No. 453, as filed by Neal D. Turner and Others on March 7, 1966, requesting vacation
of West Walnut Street from Chisholm Trail West to South 44th Avenue;
Po. 454, as filed by J. M. Perry Institute on March $, 1966, requesting rezone of
property located at the Northeast corner of 24th Avenue and West Washington; and
No. 455, as filed by Richard 0. Rasmusson and Others on March $, 1966, requesting rezone
of property located along the North side of Summitview Avenue between 10th Avenue and
Hall Avenue,
it was MOVED by Brazier, seconded by Robinson, that said Petitions be referred to the City
Manager and Planning Commission for study and recommendation: carried, Brazier, Brown,
Kurbitz, Lambert, Larson, Lynch and Robinson voting aye by voice vote.
MOVED by Lynch, seconded by Robinson that Resolution No. D -922 authorizing the execution of
a Farm Lease Renewal and Modification Agreement with Willis Decoto covering a portion of
the Yakima Municipal Airport, be passed as read: carried, Brazier, Brown, Kurbitz, Lambert,
Larson, Lynch and Robinson voting aye on roll call. In answer to questions by council mem-
bers as to what use is made of this land by Mr. Decoto, Public Works Director, John Mayo,
explained that most of this land is used for pasture and raising of corn for silage. City
Manager Smith explained that this lease will not in any way prevent the City from using any
part of this land should the need arise.
RESOLUTION NO. D -922, A RESOLUTION authorizing the City Manager and City Clerk of the City
of Yakima to execute a Farm Lease Renewal and Modification Agreement with Willis Decoto
covering a portion of the Yakima Municipal Airport.
MOVED by Lambert, seconded by Brown that Resolution No. D -923 authorizing the sale of sur-
plus property, 'namely 20 wood trusses salvaged from razing a building at the Yakima Munici-
pal Airport, be passed as read: carried, Brazier, Brown, Kurbitz, Lambert, Larson, Lynch
and Robinson voting aye on roll call. John Mayo explained that an old building that had
been used for storage has been torn down and said wood trusses are in good condition and
cannot be used by the. City.
RESOLUTION:NO. D -923, A- RESOLUTION authorizing and directing the sale of surplus personal
property owned by the City of Yakima.
The City Treasurer having submitted the following Investment report:
February 2$, 1966
Mr. George D. Smith, City Manager
Yakima, Washington
Dear Sir:
The Following investments were purchased during the month of February, 1966:
CEMETERY TRUST 0
Yakima L.I.D. #942 - Warrant #5 3 1,77$.37 $1,77a.37
CURRENT EXPENSE
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U. S. Treasury Discount Bills - Due 3/24/66 39.$85.33 39,$$5.33
137
March 14, 1966
(Treasurer's Investment report continued)
GARBAGE
U. S. Treasury Discount Bill #14074222 @ 10M - .
Due 2/28/67 - Safekeeping Receipt #13825 $ 9,503.19 S 9,503.19
ARTERIAL STREET .
U. S. Treasury Discount Bills - Due 6/9/66 39,486 .
U. S. Treasury Discount Bills #13920885/8 @ 10M - •
Due 7/7/66 - Safekeeping Receipt #13$24 39,332.07
U. S. Treasury Discount Bills - Due 8/4/66 39,167.90 117,985.99
WATER -SEWER
U. S. Treasury Discount Bills - Due 8/4/66 29,375.93 29,375.93
WATER- SEWER REVENUE BOND REDEPTION 1964 RESERVE ACCOUNT .
U. S. Treasury Discount Bill #14074223 @ 10M - Due.
2/28/67 - Safekeeping Receipt #13826 9,503.19 9,503.19
WATER -SEWER REVENUE BOND REDEPTION 1964 PRINCIPAL & INTEREST
U. S. Treasury Discount Bills - Due 6/9/66 19,743.01 19,743.01
CUMULATIVE RESERVE FOR DOMESTIC WATER SUPPLY DEVELOPMENT
U. S. Treasury Discount Bills #6592206/10 @ 1M, #3488896
@ 5M & #14074224/6 @ 10M - Due 2/28/67 - Safekeeping -
Receipt #13827 38,012.78 38,012.78
SEWER CONSTRUCTION
U. S. Treasury Discount Bills - Due 6/9/66 39,486.02
U.. S. Treasury Discount Bills #13920$89, #13838942/3
& #13838914 @ 10M - Due 7/7/66 - Safekeeping Receipt
#13823 39, 332.07
U. S. Treasury Discount Bills = Due 8/4/66 39,167.90 117,985.99
FIREMEN'S RELIEF & PENSION
U. S. Treasury Discount Bills - Due 2/28/67 9,503.19 9,503.19
L.I. GUARANTY .
U. S. Treasury Discount Bills - Due 2/28/67 9,503.19 9,503.19
1962 STREET IMPROVEMENT CONSTRUCTION
U. S. Treasury Discount Bills - Due 6/9/66 19,743.01 19,743.01
Total investments purchased during the month of February, 1966 3 422,523.17
Investments purchased the month of February from the City Treasurer's Surplus Cash:
CENTRAL YAKIMA BRANCH NATIONAL BANK OF WASHINGTON
U. S. Treasury Discount Bills - Due 11/30/66
Safekeeping Receipt #616 - 14,469.48 14,469.48
THE NATIONAL BANK OF COMMERCE
U. S. Treasury Discount Bills #3488911 @ 5M &
#14074261/2 @ 10M - Safekeeping Receipt #SKR 10285
Due 11/30/66 24,090.71 24,090.71
BANK OF YAKIMA
U. S. Treasury Discount Bills Due 11/30/66 9,648.64 9,648.64
Total City Treasurer's Surplus Cash Invested in February, 1966 $ 48,208.83
The following investments were sold during the month of February, 1966
CURRENT EXPENSE
U. S. Treasury Discount Bills #13391856 &
#13391944/6 @ 10M - Safekeeping Receipt #4210 39,72$.60 39,728.60
WATER -SEWER
U. S. Treasury Discount Bill #133$9571 @ 10M
Safekeeping Receipt #3778 9,804.42 9,804.42
ARTERIAL STREET
U. S. Treasury Discount Bills #13389913/14 @ 1OM
Safekeeping Receipt #3970 19,727.53
U. S. Treasury Discount Bills #12830410/13 @ 10M
Safekeeping Receipt #3789 39,157.57 58,885.10
138
March 14, 1966 :
(Treasurer's Investment Report continued) .
GENERAL OBLIGATION BOND REDEMPTION for LIBRARY BUILDING
' U. S. Treasury Discount Bills #3292017 @ 5M & 13391$55
@ 1OM - Safekeeping Receipt #4212 $ 14,$9$.23 S 14,$9$•23
IRRIGATION
U. S. Treasury Discount Bill #12747526 @ 1OM -
Safekeeping Receipt #3336 9,604.45 9,604.45
WATER -SEWER REVENUE BOND REDEMPTION 1964 RESERVE ACCOUNT
U. S. Treasury Discount Bill #12747525 @ 10M -
Safekeeping Receipt #3335 9,604.44 9,604.44
CUMULATIVE RESERVE FOR DOMESTIC WATER SUPPLY DEVELOPMENT
U. S. Treasury Discount Bills #12$66607/10 @ 10M -
Safekeeping Receipt #33$5 3$,521.60 3$,521.60
SEWER CONSTRUCTION
U. S. Treasury Discount Bills #1274753 3 @ 10M &
610$$$0 @ 10 - Safekeeping Receipt #33363 115,449.53 115,449.53
FIREMEN'S RELIEF & PENSION .
U. S. Treasury Discount Bills #12$2$533 & #12$30333
@ 10M - Safekeeping Receipt #369$ 19,532.13 19,532.13
1962 STREET IMPROVEMENT GENERAL. OBLIGATION BOND REDEMPTION
U. S. Treasury Discount Bills #12747531 @ 10M & #29661$9
@ 5M - Safekeeping Receipt #3353 14,41$.33
U. S. Treasury Discount Bills #12953464/5 @ 10M &
#39205$ @ 50M - Safekeeping Receipt #3467 67,676.93
U. S. Treasury Discount Bills #12953613/5 @ 10M -
Safekeeping Receipt #3501 . 29,040.43 111,135.69
1962 STREET IMPROVEMENT CONSTRUCTION .
U. S. Treasury Discount Bills #12$667$9/90 @ 10M
Safekeeping Receipt #3402 19,276.5$ 19,276.5$
Total investments sold during the month of February, 1966 $ 446,440.77
APPROVED: INVESTMENT COMMITTEE Yours very truly,
/s/ Gladys H. Richter
/s/ John M. Larson Mayor City Treasurer
/S/ George D. Smith City Manager .
/s/ Gladys H. Richter City Treasurer
it was MOVED by Robinson, seconded by Lynch that the report of the City Treasurer dated
February 2$, 1966, regarding the investments of the City of Yakima, be accepted and
approved: carried, Brazier, Brown, Kurbitz, Lambert, Larson, Lynch and. Robinson voting aye
by voice vote. .
City Manager Smith, on behalf of Police Chief Soderstrom, requested authorization to,send
Detective Sgt. Richard Clark to tillings, Montana on May. 24 to 30, 1966, to attend the
Western State Crime Conference at approximately 3150, which would be charged to the Police
Department Training Fund. It was MOVED by Lynch, seconded by Robinson that permission be
given for Detective Clark to attend said conference with expenses paid: carried, Brazier,
Brown, Kurbitz, Lambert, Larson, Lynch and Robinson voting aye by voice vote.
City Manager Smith reported on matters pertaining to interest rates in connection with bond -
and investments for L.I.D. funds. He stated that rates of interest have increased apprec-
iably, many are now 5%, and the City is paying an interest rate of 4%. He recommended that
in the future our rate be raised to 5% on any_.unpaid balance of L.I.D.'s. He also stated
that the matter of whether to sell on the market, or to our own trust funds, or both, in the
future, will be studied further and a decision made later, but felt that basically we must
increase the interest rate, There was discussion by the council members who concurred with
this recommendation. Councilman Brown suggested that an increase in the interest rate
should not affect those L.I.D.'s in progress now, or ones that will soon be started from
petitions that have already been filed. After due discussion, it was MOVED by Robinson,
seconded by Brazier that the interest rate on bonds, warrants and installment notes be
changed from 4% to 5% on the unpaid balance of L.I.D.'s, beginning with the reception of
any petitions requesting the formation of Local Improvement Districts which appear on the
City Council agenda on this date, March 14, 1966: carried, Brazier, Brown, Kurbitz, Lambert,
Larson, Lynch and Robinson voting aye by voice vote. (It is understood that Petition No.
452, as filed by Henry Hamberg and Others, will carry the new rate). Councilman Robinson
suggested that in connection with the raise in the interest rates, that notices going out
to property owners in connection with the formation of L.I.D.'s should notify them of this
raise in interest rates, to give them an opportunity to know of this change in case they
based their request on the 4% interest rate.
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There being no further business to come before the council, it was MOVED by Kurbitz,
seconded by Brazier that we do now adjourn at the hour 3 :40 P.M.: carried, Brazier,
Brown, Kurbitz, Lambert, Larson, Lynch and Robinson voting aye by voice vote. _
139 .
March 14, 1966
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