05-31-40 Special
1.4:71.
COUNCIL CHAMBER
lIIay 3l~ 1940
On call of 'the Mayor, the Counoil met in special
session at 10:00 A.~. Friday, May 3lst, to reoeive sealed
tenders of Refunding BondS, and to take up such other
matters of business as might be brought before the meeting
at this t iDIl.
Pursuant to a notioe duly published in the Deily
Bond Buyer, May 24th Issue, tenders on bonds, as follows,
were opened and read.
Seoond National B8nk,
Cinoinnati, Ohio 20,000. C .00
Allen &. COJIlpany 10,000. 0 .56 and interest
C.S. Turner 16,000. 0 .52 and interest
G.D. Laswell 10,000. C .liO.. and interest
R.D. I'Ihi ttingtcn 10,000 . @ .50 and interest
In disoussing the offers it was recommended that
the City purchase the twenty thousand dollars' worth
offered by the two low bidders provided G.B. Laswell
would also aooept a price of fifty oents, as bftJred
by Mr. Whittington, other low bidder. Atter communioat-
ing, by telephone, with said bondholder, he agreed to
aooept a prioe of fifty oents provided the City would
purohase the entire block or ten thous and.
It was therefore moved by c.l'I. Hill, Chairman of
the Finanoe Committee, that the City aooept the bids of
.50 oents on the $10,000. blooks offered by R.D. Whitting-
ton and G.B. Laswell, and that all other offers be re-
jeoted. Mr. Crego seoonded the motion, and on roll oall
the vote was as follows: Mr. Bradshaw yes, Mt-. Crego
yes, Mr. Hill yes, Mr. Jaoobs yes, and Mr. Miller yes,
The motion oarr1ed.
lit VB s further moved by Mr. Hill that the City
Clerk be direoted to borrow, from the Water Plant Fund,
surfioient money to oomplete the authorized $20,000.00
bond purohase, and that the \Va ter Plant Fund be repaid
out of the first moneye oolleoted for the Interest ancl
Sinking Fund. Mr. Crego seoonded the motion, which. on
roll Oall oarried unanDnously.
The Clerk then presented for the members' consid..
eration a letter from Judge Wilcox re oommending that
1.4:72
COUNCIL CHAMBER .. May 31, 1940
,
W.J. Webb be given an extension of time, until January 1,
1941, to pay his fine of $75.00 assessed in City Count
on Maroh l5th~ 1940, for reokless driving and damage to
City property. Xt was moved by Mr. Crego that the Judge's
reoommendation be aooepted. Mr. Miller protested this
aotion stating he thought it was very poor policy and
that he would not like to see it beccme the general pra-
othie of the Council. Mr. Brsdllhaw seconded Mr. Crego's
mot ion, and on roll Oall the vote was as follows: Mr.
Bradshaw yes, Mr. Crego yes, Mr. Hill yes, Mr. Jaoobs
yes, Mr. Miller yes, The motion was deolared oarried.
By motion regularly made, seoonded and oarried
Counoil adjourned.
~Hd~k~~
APPROVED:
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