02/27/1963
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CITY COMMISSION MEETING
February 27, 1963
The City Commission. of the City of Clearwater met in City Hall, Wednesday,
February 27, 1963 at 2:00 P.M. with the following members present:
Robert L. Weatherly
Cleveland Insco
Herber't R. FieldS
Amos G. Smith
Joseph K. Turner, Sr.
Also present were:
Mayor-Commissioner
Cornmi s s ione r
Commissioner
Commissioner
Commissioner
James R. Stewart
Herbert M. Brown
Willis Booth
City Manager
City Attorney
Police Chief
Absent:
Max Battle
City Enp,ineer
The Mayor called the meeting to order. The invocation was given by the City
Attorney. The City Attorney called attention to the fact that it was 2 P.M., which
was the deadline on the bids for $1,100,000 City of Clearwater Incinerator Revenue
BondS, and that others present in the room wiShing to submit theirs, may do so at
this time. The City Manager read the bids, from 7 firms.
The bids were as follows:
Ira Haupt & Co. and Associates
$1,078,118.50
Net Interest Cost
3.6635%
Goodbody & Co. & Associates
$1,078,924.00
Net Interest Cost
3.6453%
Whi te, Weld & Co., l1anager
and Assoc:l.ates
$1,081,069.00
Net Interest Cost
3.64063%
Phelps, Fenn & Co. and
Assoc~ates
$1,083,918.00
1965 thru 1967
1968 thru 1970
1971 thru 1973
1974 thru 1976
1977 thru 1978
1979 thru 1983
1984 thru 1989
2-1/2%
2-3/4%
3%
3-1/4%
3.40%
3-1/2%
3.60%
Net Interest Cost
3.54603%
Merrill Lynch, Pierce, Fenner
& Smith Inc., and Associates
$1,078,000.00
Net Interest Cost
3.67522%
Kidder, Peabody & Co. et a1
Net Interest Cost
$1,079,4-31.00
3.97793%
John Nuveen S Co. Inc.
& Leedy, Whee~er & Alleman
Net Interest Cost
$1,078,036.30
3 . 64-609.'
Commissioner Insco moved that the bids be referred to the Fiscal Agent, Loomis Leedy, Jr.,
of Leedy, Wheeler & Alleman, and City Finance Director, Kenneth McCreary, for tabula-
tion'and recommendation. Motion was seconded by Commissioner Fields and carried unan-
imous 1y .
Commissioner Insco moved to recess the meeting until 3:00 P.M. Motio~ was sec-
onded by Commissioner Turner and carried unanimously.
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The Mayor reconvened the meeting at 3:15 P.M. with Commissioners Insco, Fields,
Smith and Turner in attendance.
After tabUlation, Mr. Leedy reported that the bids were in order and that the
bid submitted by Phelps, Fenn & Co. and Associates was the highest and best bid and
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CITY COMMISSION MEETIPIG
Febr. uaxy 2 7� ],9 5 3 �
The City Cammission o� the City of Clearwater met in City Ha11, Wednesday,
February 27, 1963 at 2:00 P.M. wi�th the following members present:
Robert L, YJeatherly Mayor-Commissioner
Cleveland Insco Commissianer
Iierbert R. �'ields Commissioner
Amos G. Smith Commissianer
Jaseph K. Turner, Sr, Commissioner
f�lso prasent w�re;
James R. Steurart City Manager
Herbert M, Brown City Atrorney
Willis Booth Poliae Chief
Absent:
Max Battle City En�ineer
The Mayor called the meeting to order. The invocation was given by the City
A'ttorney. The Gity At�orney cal.led attention to the fact that it was 2 P.M., which
was the deadline on the bids for $1,100,000 City of Clearwater Incznerator Revenue
Bonds, and that others present in the room wishing to submit theirs, may do so at
this time. T'}�e Gity Manager read the bi�s, fram 7 firms.
The bi8s were as follows:
Ira Haupt � Co, and Assaciates $1,078,118.50
Net Ii�. �res-t Cost 3, 6635 0
Goodbody & Co, � Associates $1,078,924,00
Net Interest Cost 3,6453�
iM1Thite, Wei.d & Go., Manager $1,081�Q69,��
and ssociates
Net Interest Cost 3.64063%
Phelps, Fenn � Co. and $1,083,918.00
Associates
1965 tY?I�u 1967 2-1/2 0
1908 thru 1970 2-3/4a
1971 thru �9Z3 3a
1�74 thru 1976 3-1/40
I977 thz�u I97& 3.40a
1979 thru 1983 3-1/2%
1984 thru 1989 3.60%
Ne� Interest Cost 3.546030
Merx�ill Lynch, Pierce, I'enner $1,078,000.00
� Sm1t11 Inc., and Assaciates
� Net Interest Cost 3.67522a
Kidder, Peabody � Co, et al $1,A79,431.00
Net Interest Cost 3,97793a
John Nuveen � Co. Inc.
� eedy, ee er � lleman $1,078�036.30
Net Interest Cost 3,646tJ5�
Commissioner Insco moved that the bids be referred to 'the Fiscal Agent, Loomis Leedy, Jr.,
of Leedy, Wheeler � A1lemah, and City Finance Director, Kenneth MeCreary, for tabula-
tion and recommendation. Tlation was seconded by Commissioner FieZds and carried unan-
imously.
Commissioner Insco moved to recess the meeting until 3:00 P.M. Motion was se�-
onded by Commissianer Turner and carried unanimousl,y.
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The Mayor reconvened the meeting at 3;15 P.M. with Commissioners Insco, Fields,
Smith and Turner in attendance.
After tabula+ion, Mr« Leedy reported that the bids were in order and that the.
bid submitted by Ph�lps, Fenn & Co, and Associates was the highest and best bid and
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CITY COMMISSION AIEETTNC
February 27, 1863
recommended its acceptance, Commissioner Fields moved that tl�e bid of Fhelps� Fenn �
Co. and Associates, with a net interes�t cos�t ta the City or $G17,009.50, with in'texest
at 3.5�+6Q3� be accegted anc3 Resolut�.on n63-2U be approved and the proper of.ficials
be authorized to execute it; and that the cextified chscies of the unsuecessful bidders
be returned immediately follo�aing this meeting. Motion was seconded by Commissioner
Turner and carried unanimously.
There being no further business the meeting was adjourned at 3;20 P.M,
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M yor- ommission�
Attest: ( �`
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CITY COMMISSZON MEETIYdG
February 27T 1963
� February 26, 1963
Honorable Mayor �nd Members af Ci�y Comrnission
City of Clearwater
Clearwater# .Flora.da
Gentlemen:
The City Commission w9,IZ meat in Speciai Session on 'vJednesday, February 27,
1963 at 2;00 P.M, in the City Hall Au�3itorium for the purpose of considering
the followin�? items:
1. Sale of Incinerator Revenue Bonds
2. Such other �usiness as may be presente�i.
Sincerely yours,
/s/ James R, Stewart
Gity I�lanager