HomeMy WebLinkAbout11-10-1958 Regular Meeting (2)STATE OF ALA9AMA
COUNTY OF BALD"II N
The City Council of the City of Fz-irhope met in regular session at the City
Hall, Monday„ November 10, 1958, with the following members present:
Mayor E. B. Overton, City Manager C. B. Niemeyer, Councilmen: C. F. Belew,
M. 0. Berglin, '�I. 0. Poser, W. R. Ruffles, Jr. -and B. L. Shull.
Motion by Councilman Shull seconded by Councilman Belew that the minutes of
the previous regular meeting be approved as read. Motion cares ed.
Mr. Cunningham of Steele and Associates Inc., gave a report on corrosion
survey recently made on the gas system.
Motion b/ Councilman Shull seconded by Councilman Berglin that the applica—
tion for building permit of Geroge ";orner be approved as submitted. Motion
carried.
Councilman Ruffles gave a report of the Committee on Street Improvement and
finoncing of same. Mo+ion by Councilman Poser seconded by Councilman Shull
that report of the Stret Committee be accepted and made a part of the
minutes of this meeting. Motion carried.
Councilman Poser moved that all objections to improvements of streets as
provided in Ordinance �254 be overruled and that the Council proceed with
Ordinance ,;�54 as introduced. ',"ot i on seconded by Councilman Berglin and
carried.
Councilman Fosar then introduced the followirg resolution which was read to
the meeting:
BE IT RE9DLVED by the City Council of the City of Fc i rhope, A I cba is that
Ordinance 7i25��, as the score has heretofore been amended, be and the same is
hereby confirmed.
Councilman Poser then moved that the said resolution be adopted, which motion
was seconded by Counci man Cerglin, and upon vote being taken thereon the
following vote was recorded: Yeas: Vieyor Overton and Councilmen Belew, Cerglin,
Poser, Ruffles, and Shull; Nays: Nore. The mayor thereupon announced that the
motion for the adoption of the said resolution had been unanimously carried
and the said resolution was duly adopted.
Motion by Councilman Ruffles seconded by Councilman Shull that in connection
with street :)awing project a separate fund be set up and that the 5 mill
general obligaticn tax, and collection and interest from Street assessments
be deposited into th's fund and all payment for street improvement be made out
of this fund. Voti n carried.
Motion by C ouncilman Shull seconded by Councilman 3erglin that the City
accept Plannine Board ruling pn proposed subdivision of part of lands of
Della 0. Nichols Esta+e lying West of Bay View Avenue as per plat. Motion
carried.
Motion by Councilman Ruffles soconded by C ouncilman Derglin that the City
approve replat of Bloc<s 22,23,27,28,36,.37,L2 and 43, Magnolia Beach Addition,
Fairhope Single Tax Corporation land. Motion carried.
Motion by Councilman Berglin, seconded by Councilman Belew that the follow—
ing bills be approved for payment. Motion carried.
General Fund:
Tax Collector
ollector,
8.32
'
Baldwin County Circuit Clerk
10.40
Sargent _. Sowe I I Inc.
57. 15
Indianapolis Badge Name Plate Co.
01}.41
Riviera Utilities.
2.33
modern S 1--n Co.
16.00
Goodyear Service Stores.
73.83
Gaston Motor Co. Police
14.81
Ktumpp Motor Co. Police-32.65 Sts. 29.93
57.58
Launder —Rite Police
13.30
Fairhope Service Lenter
3.00
V1iImer Paint . Hdwe.
4.85
F-irhope Hdwe. c Supply
3.88
McKean Paint Hdwe.
11.3E
Western Lumber and Supply
4.33
Moore Supply Co.
26.40
Ray Brooks Machine Co.
123.12
tIestern Auto Assoc. Store
114.93
Dales — Police
40.00
!%%ary Ann Cafe — Police
3.50
Garden Center
62.85
Meltons Garage
55.35
John S. Huffman - Rec. Bd
37.00
City of Fairho`e Elec. Dep. - Rec. Bd
248.70
McCain Uniform Co. - Police
168.10
Nix w Cu-nm,ings - Police
23.81
Virgil Herston - Police
20.00
McKesson a Robbins - Police
4.16
Mal ter Supply Cc
24.40
The Miracle Equip. Co. - Rec. Bd.
509.32
M w S Service Station
12.50
Southern Auto Parts
9.o4
Gulf City Body & Trailer Works
7.92
Riviera Utilities
3.22
Radcliff Gravel Co.
154.00
Jansen Mfg. Co.
135.00
City Market . Groc.
2.69
J'. Vasco Co. -Police
22.50
Baldwin Times
35.16
Gulf Oil Corp
391.93
Gulf States Sales
11..57
Ala. Dry Dock & Shipbuilding Co.
1,481.00
Electric Fund
Riviera Utilities
8,883.38
McKean Paint & Hdwe. Co.
5.68
Ruff Ies Co. Inca
10.48
General Electric Supply Co.
204.80
Turner Supply CO.
41.28
Nix & C-ummings
N.27
Alaba•na Wood Preserving Co.
438.10
Bill's Standard Service Station
3.75
J. R. Hebbard Lock Store
1.00
Southern Auto Parts
2.00
Joslyn Mfg. & Supply CO.
62.50
Graybar Wec. Co.
18.16
W. E. Duncan Co.
1,050.50
Hatfield & Co.
335.27
Lighting Fixture & Elec. Co.
187.56
Fairbanks, Morse & Co.
482.60
Gulf Oil
96.40
Moore Handley Hdwe.
15.18
Gas Fund
Goodyear Tire _s Rubber Co.
41.96
Goodyear Service Stores
29160
Ruff Ies Co. Inc.
274.62
Moore Supply Co.
30.25
Steele & Associates
850.00
Universal Controls Corp.
736.43
M & S Service Station
13.75
Marine Speciality Co.
22•73
Central Plastics Dist. Co.
67.32
Mueller Co.
21 .26
Hands ':fie l d i ng CO.,
43.25
Cooper Trans. Co.
12.41
Standard Equp/ Co.
948.90
Gulf Oil
48:85
United Gas Pipe Line (10,
3,994.61
It was duly moved and seconded that the meeting be adjourned.
Approved r
h.ayor
Attest _
1 ty C I erk
^V
oeXeiR chants NatiWa.
TRUST DEPARTMENT
M. BANISTER SLAUGHTER,
SENIOR VICE PRESIDENT
GUY FAULK, JR.,
VICE PRESIDENT & TRUST OFFICER
GARET ALDRIDGE,
TRUST OFFICER
L. S. CONOVER,
TRUST OFFICER
F. C. WIATT,
TRUST OFFICER
HARRY A. DINHAM,
TRUST I NVESTMENT OFFICER
LIONEL W. NOONAN,
ASSISTANT TRUST OFFICER
WM. E. BUCKLEY, JR.,
ASSISTANT TRUST OFFICER
J. FINLEY:'1S��;F,2AF
I i, ..n •' i
CAPITAL & SURPLUS•
1�
Phesu
11
b
$1
I
111 _
ank of Mobile
=NT
000,000.00
Mobile, Alabama
Miss Mary Moore, City Clerk
City of Fairhope
Fairhope, Alabama
Dear Miss Moore:
June 5, 1959
Re: City of Fairhope, Alabama First Mortgage
Gas Revenue Bonds dated February 1, 1950
#1106 REDIRff-TION BONDS F-2.1
This is written to inform you that sash in the Surplus Fund of the
above bond issue totals $22,442.97 at this time, a sum sufficient to redeem
$21,000.00 of these bonds at the next semi-annual payment date, August 1, 1959.
In the event that it is the desire of the Board that these bonds
be called for redemption, we suggest that resolution be passed authorizing the
redemption of bonds No. 585 through 585 inclusive, maturing February 1, 1976
at pax plus accrued interest plus premium of one year's interest.
Inasmuch as 30 days notice is required it is suggested that the
Board act properly in this matter. It may be that Watkins, orrow and Company
will be able to contact the owners of these particular bonds -in order to obviate
the necessity of advertising. A word from you with regard to this will be
sincerely appreciated.
With best wishes,
LSC/th
�6S -
-/- 76
HONORABLE MAYOR AND COUNCIL
CITY OF FAIRHOPE
THE ATTACHED REPORT IS 1,1ADE AS A RECOT31ENDATION FOR THE FINANCING
OF THE PAVING, CURB AND DRAINAGE WORK AS PER SURVEY PREPARED BY CITY
E1:GINEER, BYRD L. MOORE. IT COVERS ALL WORK WITHIN THE CITY LIMITS.
ADDITIONAL SIMILIAR WORK MAY BE ADDED OR WORK WHICH IS INCLUDED MAY
BE O11ITTED WITHOUT MATERIALLY EFFECTING THE PLAN.
THE PLAN PROVIDES FOR FOUR THINGS:
1- RETIREMENT OF FUNDED DEBT.
2- PROVIDED GENERAL FUNDS FOR APPLICATION TO DRAINAGE COST.
3- ESTABLISHES REVISED STREET PAVING PRIORITY SCHEDULE.
4- ESTABLISHES A REVOLVING FUND FOR FUTURE STREET IMPROVEMENT.
IN PREPARING THIS REPORT YOUR COl ,1ITTEE CONSULTED WITH PROJECT ENGINEER,
BYRD L. MOORE, FISCAL AGENT, HUGH MORROW AND CITY ATTORNEY, W. C. BEEBE,
ALTHOUGH THE PLAN HAS THEIR GENERAL APPROVAL IN SO FAR AS IT PERTAINS
TO EACH, THE REPORT AS PREPARED SHOULD BE SUBMITTED TO EACH FOR FURTHER
CONSIDERATION.
ALL FIGURES SHOWN IN REPORT SHOULD BE CHECKED FOR ACCURACY BY CITY
CLERK OFFICE.
RESPECTFULLY SUBMITTED,
PAVING COM1,1ITTEE
il iam R. Ruf , J 1'r. hairman an
Finance Commissioner
o�
B. L. Shull - Councilman and Street
Commissioner'
l� 1AIL-
C. B. Ni6meyer - Cit I
Manager
PAGE 1
PROPOSED PAVING - CURB & DRAINAGE
ESTIP,lATED WORK COST :
ENGINEERS ESTIMATE OF PAVING COST ---------------------- a; 99,553•80
ENGINEERS ESTI14ATE OF DRAINAGE COST------------------- 9 66 •95
1 9,217.7
5% CONTINGENCIES--------------------------------------- 960.88
TOTAL PAVING AND DRAINAGE------------------------- lb7.,17d.03
10% ENG. FEE------------------------------------------- 16 71 .86
TOTAL PROJECT COST --------------------------------?1 30 9 9
FINANCING COST:
BOND AGENT 2N--------------------- y> 4,597.41
I�'TEREST OPT DEBT------------------- 30,912.00
(See Bonds - Page 2)
TOTAL FINANCING COST ......... 4,, 09. 35,509.41
EST. TOTAL PROJECT COST -------------------------------- $219,405.90
PER. FT. BREAKDO71N COST:
PROJECT CONSIST OF 30,593 ASSESSED FEET.
Av. Per. Ft.
PAVIP;G COST ONLY (With Curb and Contingencies) ---- A,3.7585
DRAINAGE COST ------- 2.25�5
FINANCING COST------------------------------------ 1.1607
TOTAL AVERAGE COST PER. FOOT-----------------?7*1717
Pa
FINANCING
BONDS:
ISSUE $184,000.00 IN GENERAL OBLIGATION TEN YEAR BONDS.
ACCEPTABLE PROVISIONS:
1.- SALABLE AT PAR.
2.- NOT TO CARRY OVER 4% COUPON.
3.- LAST ISSUES CALLABLE AFTER TWO YEARS. (Possibly last 3 years)
WITH ONE YEAR INTEREST PREMIU'Y.
4.- AMORTIZED EQUALLY OVER TEN YEARS. glvlivi94Y
5.- ISSUED IN PRINCIPAL AMOUNT KOT TO EXCEED
TOTAL COUPONS ON ABOVE ISSUE
ASSUMING �1-136,800 OF PAVING ASSESSMENTS IN EXCESS
OF REQUIRED AMOUNT ARE PAID WITHIN TWO YEARS AND
THIS AI.IOUNT IS USED TO REDEEM CALLABLE BONDS.
�40,480.00
DEDUCT APPROXIMATE SAVINGS IN INTEREST ---------------- 9s568.00
r# ANTICIPATED INTEREST COST----'O?'30,912.00
N THIS AMOUNT IS EQUAL TO TWO YEARS PAYMENTS ON BONDS. BASED ON
PAST EXPERIENCE THIS IS CONSERVATIVE WHEN APPLIED TO THE PER FOOT
ASSESSIU.MT SHOWN IN THIS REPORT AND SINCE IT IS UNDERSTOOD THAT
THE FAIRHOPE SINGLE TAX CORPORATION WILL PAY THEIR ASSESSX--ENT
WITHIN THIS PERIOD. (SEE NOTE)
# THIS ITE21 HAS LITTLE BEARIIIG ON PROJECT DECISION IN SO FAR AS
COST IS CONCERNED SINCE IT WILL BE OFFSET BY INTEREST CHARGED ON
AS SE S SI IvI;T S .
NOTE: LEGALITY OF THIS WILL HAVE TO BE ASCERTAINED AS IT MAY NOT
BE POSSIBLE TO IMUM CASH SETTL1KMNT FOR ASSESSMENTS AFTER CITY HAS
BEEN OBLIGATED THROUGH BOND ISSUE FOR INTEREST THEREON.
Page 3
FUNDING DEBT
IT IS RECCOMlMNDED DEBT BE FUNDED BY:
1- GENERAL IMPROVEI+ITT ASSESSMENTS ON PROPERTY FOOTAGE
ADJACENT TO PAVING IN THE AMOUNT OF 54-35 PER FOOT
WITH 6% PER ANNUM INTEREST.
2- BY THE PLEDGE OF SURPLUS FROM GENERAL OBLIGATION
SEWER BOND FIVE MILL TAX.
ANTICIPATED APPLICATION OF ABOVE FUNDING.
AMOUNT RECEIVED FROM ASSESSMENTS (NO INT.).............$133,079.55
MINII:IUM RECEIPTS FROM 5 MILL TAX SURPLUS ............... 106,000.00
i APPROXIMATE RECEIPTS FROM ASSESSMENT INT............... 312772.00
TOTAL RECEIPTS...............................$270,851.55
TOTAL COST OF PROJECT (INC. FINANCING COST)............ 219,05.90
BALANCE TO ESTABLISH REVOLVING FUND FOR
FUTURE STREET ITAPROVM- MTS ..............................0 51,145.65
:: BASED ON 1958 REVENUE FROM 5 MILL TAX
# BASED ON 136,800 IN ASSESSTIENTS BEING PAID FIRST YEAR - (LEGALITY
OF THIS TIETHOD OF PAYMENT TO BE ASCERTAINED)
page 4
REVISED STREET PAVING, CURB A1,T
DRAINAGE PRIORITY SCHEDULE
After thorough study of engineer's estimate on above work, as
result of public hearings, based on general need the following
is reccommended as revised priority schedule for this work.
1. GRAND AVENUE from present paving to NORTH MOBILE AVENUE.
2. PINE CREST - CHURCH ST. west to present paving.
3. LIBERTY STREET from PECAN to NICHOLS.
4. PIER STREET from CHURCH to POMELO.
5, KUMQUAT STREET from PIER to deadend.
6. SATSUMA - NICHOLS to PIER.
7. FIG - MOBILE AVENUE east to City Limits.
8. GAYFER COURT - SECTION STREET west.
—9, N. MOBILE AVE rUE - GRAND to PENSACOLA. '
10. GAYFER - BON SECOUR to GREENO.
"-11. SEA CLIFF DRIVE from City Limits south.
It is reccommended by the City Engineer and this committee that
Seminole, Tensaw and Perdido Streets be included in this project
from Mobile Avenue east to Section Street.
v.