12/05/1956
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CIT1 COMMISSION ME1TING
December 5, 1956
1he City Commission of the City of Clearwater met in special session
at. City Hall, Wednesday, Decenber 5, 1956, at 1:30 P. M. 'With the fo110'Wing
mem!!lers present:
Herbert M.. Brown
w. E. ~trang, Jr.
J. N. Bohannon
Cleveland Inscp, Jr.
Samuel J. hober ts
Mayor-Commissioner
Commissioner
Commissioner
Commis sioner
Commiss ioner
Also present 'Were:
G. 'Weimer
Ben Krentzman
G. '1'. McClamma
S. Lickton
F. Ab'ernat;hy
Actin~ City Manager
City Attorney
Ohi ef of Police
City Engineer
City treasurer
'l'he ~1ayor called the meeti~ to order and announced that the meeting had
been called to accept bids for $2.000,000.00 Utility Revenue Certificates.
The Manager reported tha~ three bids had been received~
John N~\UL~. 4' 1957-1989 4.50 .
~'2, 000.400.00
1990-1991 4.25
Effective interest rate 4.46145
~1,OOO,036.00 1957-1989 4.50
1990-1991 4.25
Effective interest. rate 4.46194
Kidder. Peabody & Co. $2,000,051.00 1957-1963 6.00
1964-1971 5.00
1972-1991 4.50
Bffective interest rate 4.58
~,l .000,026.00 1957-1963 6.00
1964-1971 5.00
1972-1991 4.50
Eff ecti ve interest. rate 4.58
Goldman. Sachs & ~o. ~2 ,000, 000.00 1957-1960 4.50
1961-1972 4.25
1973-1991 4.50
Effective interest ra1:.e 4.46
~~. R. W. Spragins, Fiscal Agent, and Mr. Ted E. Mischuck representing Leedy.
Wheeler and Alleman, Incorporated. Orlando, both stated th~t these were good
bids considering the condi1:.ion of' the bond market. however, the decision as
to whether to accept the bids depended a great deal on how urgent the projects
were to the Ci~y. ~he Mayor said it was the consensus of opinion of the
COlIlllission 'that th e bids were too hif~h. Commissioner .tlohannon moved that all
bids be rejected and that ~he certified checks be returned. Motion was
seconded by Commissio ner Robert s an d carri ed unanirnousl y.
There being no further business to corne before the Board, the meeting
was adjourned at 2:00 P. M.
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Att.est :
If?tf:~
~ua-itor and Clerk