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03-29-62SpMtg MAROH 29, 1962. A special meeting was held in the Council Chambers at ?$30 P.M. with Mayor Walter Dietz in the Chair, City Manager Louis J.S~tzes, City Attorney John Ross Adams and Councilmen A1 C. Avery, Ge~ge Talbot, Jr., George V. Warren and Oliver W. Woodard, Jr., being present. Mayor Dletz called the meeting to order annoUflcing that ~ame had been called for the purpose of discussion and considerati~ of written Rroposals submitted by Fiscal Agents on the proposed Sewer Project, ~ndfor any other business which may come before the meeti~i City Manager ~aitzes stated that, following instruc'tia~from the Council, proposals had been solic'ited from several Fiscal Agents. The following letter was sent to nine agents. "The City of Delray Beach is iht'Crested in having your company submit a written proposal covering a complete fiscal program for the financing of an ocean outfall type sewer system supported by revenue type bond issue. "It is intended lateral lines will be laid in front of property, without assessment to the property holder, rates to be no higher than the present sewer rates, in- come to be used toward payment of operating expenses, pay interest on the bonds:, retire the bonds, set up necessary reserve, and take care of replacement. "The project in question is estimated to cost $3,000,000. financing for $500,000. of which has' already been secured. "Any further financial information can be secured' from the' City Clerk. "We are anxious to proceed with our fiscal affairs as soon as practical. As such, wePequest your writtenproposal be submitted on or before March 28, for consideration." City Manager ~mitzes then opened and read proposals and corre- spondence from the following~- A. C. AllYn & cOmpany Chicago Barcua, Kindred &Company Miami (Copy of proposals Oscar E. Dooly & Company Miami are attached to and Leedy,'Wheeler & Alleman, Inc. Orlando made apart of the John Nuveen & Company New York official copy of Salomon Brothers & Hutzler New York these minutes.) F. ~. ~mithers & Comp~any New York B. J. Van Ingen & Co., Inc. Miami Wainwright & Ramsey, Inc. New York It was suggested that the Mayor appoint a committee from the Councit, including M~. Nate ~S~harp, to study these proposals and refer the committee's opinion to the Council of the ones that it seems best $o consider. Following discussion, Mayor Dietz appointed the following committee: City Manager Smitzes, Chairman, Nate Sharp,'George Talbot, himself and the City Attorney, stating that the functions of this committee would be to study the communications received with the thought of recommending to the Council those ~gents that should be personally interviewed. It was agreed by the Councilmen that' when said committee had made recommendations, rather than call a special meeting to approve recommended companies for interview, that Counoil- men wouldlndividually 0.K.. those recommendations and then said Companies would be called, to meet with the Council. 3-~9-62 City Manager Smitzes stated that in endea-oring to close out the $%00,000 Bond issue that is now pending, the First National Bank, by 0oumcil action, was designated as Closing Agent, further 'stating that it was generally felt that the $%00,000. should be deposited in the First. National Bank and that if and when the $2,500,000 was. received a proportionate sha~e would be allocated to the Delray Beach National Bank to make an equitable division of. the moneys. It was noted, that the money from the 1957 Water Bond Issue had been equally divided be- tween the two city banks. City Manager Smitzes made s correction in the news release, copies of which had b~en received by Councilmen today, concerning depositing of said funds. Following discussion, M~. ~oodard moved that the .proceeds from the recent Revenue Bond Issue be divided equally between the ~wo local banks provided that the interest rates offered by the t,~o banks are equal. The motion was seconded by Mr. TalbOt and carried unani- mous ly. Mr. ~very b~ught the Seacrest Drainage prob.l~m to Council attention again and asserted that Council directive of Monday night concerning this problem had not been carried out. FollOWing lengthy discussion, it was agreed that. Mayor Dietz and Mr. Avery 'togetHer with the Cit~ Manager.or his representative,would personally inspect the area and reassure'the residents that the drainage problem would be satisfactorily taken care of.. Mr. Henry Mellon, developer of Tropic Isle and Tr~c Palms Subdivisions requested clarification of~ Resolution No. ~"~93,afid stated that he did not know of any broken promises on his part,and felt that he had done more toward the development of Delray Beach than ar~y other individual.. Mayor Dietz informed Mr. Mellon that certain residents of Tropic Isle, in the vicinity, of a spoil area, had registered complaints and he felt that Mr. Mellon should meet with these residents 'and the city officials and get these things straightened out. Dur!ng~:ie~thy discussion the replatting of a portion of Tropic Isle, water main extension and the condition of streets and drainage were mentioned. Mr. Mellon asked for city approval to officially change the grade in a certai~ portion of Tropic Palms, and further stated that he was not in~erested in replatting a portion of Tropic Isle t. hat had been previously, discussed. Mr. Mellon agreed to meet with Mayor .D~etZ and City Nanager Smitzes in an endeavor to take care of the problems-that exist, The meeting adjourned at 9~10 P.M. on ~moti~ by '-Mr, Woodard. City 'C lerk~ ~PPROVED;