Loading...
HomeMy WebLinkAbout11-13-1972 Regular MeetingSTATE OF ALABAMA COUNTY OF BALDWIN The City Council of -the City bf Fairhope met in regular session at the City Administration Building onMonday, November 13, 1972 at 7:00 P.M., with the following members present: Mayor James P. Nix, Councilmen: Ed Bishop, H. G. 'Bishop, Sam Box, 011i E. Deese and Barney L. Shull. Minutes of previous meeting were approved on motion by Councilman Box, seconded by Councilman Shull and carried. Motion by Councilman Box seconded by Councilman Shull that the City advertise for public hearing on rezoning from R-1 and R-2 to B-1 the West 333 feet of the South 340.5 feet of the S. E. 4 of the N. E. 4 of Section 17, Township 6 South, Range 2 East land lying on the North side of Fairhope Avenue and ad- jpwning Union Oil property. Motion carried. Motion by Councilman Shull seconded by Councilman H. G. Bishop that the assessment on Lot 81, Block 9, Marsim Drive and Lot 34, Block 9, Marsim Drive be removed from the 1962 Paving Assessment Roll. Moti,on carried. Motion by Councilman H. G. Bishop seconded by Councilman Ed Bishop that request of Leodis Mitchell for liquor permit at Sun Set Lounge be tabled. Motion carried. This being date set for public hearing on an amendment to Zoning Ordinance No. 295 by rezoning to B-3 property on North Section Street, there being no opposition, Councilman H. G. Bish moved that the following Ordinance be introduced: . ORDINANCE NO. �19 An Ordinance Amdding Zoning Ordinance No. 295, Section 1 by rezoning the following described property to B-3: From the N.. E. Corner of the Baron De Ferriet Grant Section 37, Township 6 South, Range 2 East, Baldwin County, Alabama, said corner being a point on the South Boundary of the William Pat- terson Grant Section 8, T6S, R2E, run West and along the south line of said Patterson Grant 1165.3 feet to a,point on the Western Margin of Section Street in the City of Fairhope, Alabama, for a POINT OF BEGINNING: From said Point of Beginning, run N 19 degrees 00 minutes E along the west side of Section Street in the City of Fairhope, Alabama 211.5 feet.to the Southeast Corner of Volanta View, a Subdivision shown by map thereof recorded in Map Book 5, Page 4, Probate Records, Baldwin County, Alabama; thence run N 81 degrees 49 minutes W along the South boundary of said Volanta View S/D 924 feet, more or less, to a point on the Eastern Bank of Bayou Volanta, (or, "Fly Creek"); thence run Southwardly following the meanders of said Creek Bank 340 feet, more or less, to a point on the south boundary of said Patterson due West rant_,\_ Z the POINT OF BEGINNING;` thence run due East 910 feet, more or less, along the South boundary of said Patter- son Grant, to t.he'POINTxOF BEGINNING. -Continued- � Av Tract contains 6 Acres, more or less, bounded on the North by the South boun- dary of Volanta View Subdivision, on the West by Fly Creek (or, "Bayou Volanta") on the south by the South boundary of the William Patterson Grant, and on the East by Section Street, in Fairhope, Ala; tract lies in the William Patterson Grant Section 8, Township 6 South, Range 2 East, Baldwin County, Alabama. Motion by Councilman Shull seconded by Councilman Box that the City of Fairhope authorize the Harbor Board to offer $5,500.00 to Mr. Wallace, Wallace Seafood Co., for his interest in fishermants wharf. Motion carried. Motion by Councilman Box seconded by Councilman Shull that the following Resolution be adopted. Motion carried. RESOLUTION WHEREAS, the State of Alabama, by and through its High- way Department did four -lane U. S. #98 from its intersection with U. S. #31 located at Spanish Fort, Baldwin County, Alabama, south wardly to a point at its intersection with State Highway #104, and WHEREAS, the City of Fairhope is a growing city, and growing mostly toward the East and North of its present downtown business area, and WHEREAS, the Mayor and City Council of Fair.hope are now desirous of having U. S. Highway #98, Truck Route, also known as Greeno Road, four-laned from the intersection of Alabama Highway #104 South to Twin Beech Road, South of the City Limits of Fair - hope, Alabama, and WHEREAS, the Mayor and City Council are desirous of .hav- ing their wishes made known the the State of Alabama Highway De- partment, NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Council of Fairhope, Fairhope, Alabama, do hereby request the High. way Department of the State of Alabama, to seriously consider four; laning U. S. Highway #98 Truck Route, also known as Greeno Road, from a point at its intersection on Alabama Highway #104 to Twin Beech Road. BE IT FURTHER RESOLVED that this Resolution be sent to the Alabama State Highway Director, and any and all other interest d parties. ADOPTED this the 13tt ATTEST: CITY CLERK Motion by Councilman Box seconded by Councilman Shull that the City ask for bids on truck load of gas pipe. Motion car- ried. Motion by Councilman H. G. Bishop seconded by Councilman Shull that the City appropriate an allow&nce of up to $100.00 a month for advertising on billboard project originating in Eastern Shore Chamber of Commerce. Motion carried. Several businessmen met with Council in regards to increa! in Electric rate. After hearing from those present the Mayor and Council agreed to meet with Electrical Engineer to further sti2dy the rate increase. Motion by Councilman Ed Bishop seconded by Councilman Box that the motion adopted on July 24, 1972 pertaining to sale of bonds be amended as follows: BE IT RESOLVED by the City Council of the City of Fairhop4 that the Fiscal Agent be authorized to set up permanent financing in authorized amount of $1,000.000.00 Offering for sale at this time $850,000.00 and to proceed with the sale of $320,000.00 Reveni Bonds through the Pollution Control Finance Agency of the State of Alabama,, Motion carried. Motion by Councilman Bishop seconded by Councilman Shull that the City authorize_ the Conservation Department to install markers at entrance to Marina and signs for No,Swimming and No Boa• ing Areas. Motion carried. Motion by Councilman Box seconded by Councilman Ed Bishop that City pay $100.00 each for options on property for location of test wells. Motion carried. Motion by Councilman H. G. Bishop seconded by Councilman Shull that the bills be approved for payment. Motion carried. Motion by Councilman H. G. Bishop seconded by Council- man Shull that City transfer $30,000.00 from Electric Fund and $10,000.00 from Gas Fund. Motion carried. 4 t Thg,following,bids were recieved on Giant Vacuum: Tiesr s) Gulf Coast,Inc.* $3,995.00 Trescay,Turf Equip. Co., $4,150.00 e � g Yieldings, Inc. $4,125.00 Motion by Councilman H. G. Bishop seconded by Councilman Box that City accept low bid of Tierco GulfCoast, Inc., provided bid meets with specifications. Motion carried. Mayor Nix appdnted the following to Fairhope Stadium Com- mittee to study building stadium on property owned by the City set aside for stadium without Municipal funds: e Mr. Barney Shull, Chairman Mr. W. C. Majors Mr. J. W. Lipscomb Mr. Clarence Bishop Mr: Melvin Coxwell Mr. Don Smith Mr. Jack Stipes Mrs. Elizabeth Rockwell Mr. Grady Jackson Mr: John, Fleming Mr. Jim Benford Mr. James Nix Motion by Councilman Ed Bishop seconded by Councilman Bo that the meeting adjourn to meet on Tuesday, November 14, 1972 at 12:00 O'Clock Noon at the City Admi Vation Bu'ldi .�M ion RTH: 4 APPROVED le OFFICIAL NOTICE OF SALE $875,000 Water, Gas and Sewer Revenue Bonds, Series 1972, of the City of Fairhope, Alabama Sealed bids will be received by the City Council of the City of Fairhope, Alabama (herein called the "City") at the City Hall, Fair - hope, Alabama, until the hour of 12:00 o'clock Noon, Central Standard Time, on the 14th day of November, 1972, at which time they will be publicly opened and announced for the purchase of the bonds hereinafter described. The Bonds will consist of 175 bearer, coupon bonds, in the denomination of $5,000 each, will be dated December 1, 1972, and will mature on December 1 in years and principal amounts as follows: Year Amount Year Amount 1973 $20,000 1984 $401000 1974 203%000 1985 45,000 1975 203000 1986 45,000 1976 25,000 1987 501000 1977 25,000 1988 50,000 1978 25,000 1989 503000 1979 30,000 1990 55,000 1980 30,000 1991 55,000 1981 35,000 1992 60,000 1982 35,000 1993 60,000 1983 403000 1994 601000 .The Bonds of Series 1972, having stated maturities in 1983 and thereafter will be subject to redemption at the option of the City on December 1, 1982 and any interest payment date thereafter. Any re- demption may be in whole or in part, but if in part shall be in inverse order of maturities and identification numbers, latest maturities and highest numbers first. Any redemption shall be at a redemption price equal to the principal amount of each Bond to be redeemed plus accrued interest thereon to the date fixed for redemption, plus the following redemption premium (expressed as percentages of principal amount of each Bond to be redeemed): 4% on Bonds maturing in 1983, 3-1/2% on Bonds maturing in 1984 and in 1985, 3% on Bonds maturing in 1986 and 1987, 2-1/2% on Bonds maturing in 1988 and 1989, and 2% on Bonds maturing in 1990, but in no event shall any such premium exceed one year's interest on any Bond being redeemed. There will be no redemption pre- mium on Bonds maturing in the years 1991 through 1994• Interest on the Bonds will be payable semiannually on June 1 and December 1 in each year. Principal of and interest on the Bonds will be payable at the principal office of The Merchants National Bank of Mobile, in the City of Mobile, Alabama. The Bonds of Series 1972 will be issued as additional parity bonds under and will be secured by a Trust Indenture dated as of December 1, 1961, between the City and The Merchants National -Bank of Mobile, Mobile, Alabama, as Trustee (herein called the "Trust Indenture"). The City has heretofore issued $1,000,000 principal amount of its Water, Gas and Sewer Revenue Bonds, Series 1961, dated December 1, 1961, under the Trust Indenture. The Bonds of Series 1972 will be payable solely out of the reve- nues of the City's water works and sanitary sewer system and its natural gas distribution system, subject to certain prior pledges thereof, and will be secured by a pledge and assignment of said revenue on a parity with the Bonds of Series 1961 and any addi- tional parity bonds hereafter issued upon compliance with the pro- visions of the Trust Indenture. The City has reserved the right �to­issue-additYonal bonds from time to time payable from said reve- nues on a parity with the Bonds of Series 1961 and the Bonds of Series 1972 upon compliance with the provisions of the Trust Indenture. Bidders are invited to name in their bids the annual rate or rates of interest to be borne by the Bonds of Series 1972 offered for sale, subject to the following limitations: (1) all Bonds having the same maturities must bear the same interest rate throughout their life; (2) rates may be in any multiples; (3) no supplemental coupons will be permitted; (4) the interest rates on Bonds maturing in and prior to 1982 shall not exceed 8% per annum; (5) the interest rates on Bonds maturing in 1983 and thereafter shall not exceed the following per annum rates: 5.6% on Bonds maturing in 1983; 5.7% on Bonds matur- ing in 1984 and in 1985; 5.75% on Bonds maturing in 1986; 5.8% on Bonds maturing in 1987 and in 1988; 5.85% on Bonds maturing in 1989 and in 1990, and 6% on Bonds maturing in 1991 through 1994• No bid for less than all of the.Bonds of Series 1972 offered for sale or for less than par plus accrued interest will be accepted. All bids will be considered as including accrued interest on the Bondsto the date of their delivery, whether or not so stated. The Bonds will be sold to the bidder whose bid reflects the lowest net interest cost to the City for the Bonds, computed from the date of the Bonds to their respective maturities. Any bid not conforming to this Official Notice of Sale or not on the Official Bid Form, without alteration; except for the insertion required by the form, may be rejected. The City retains the right to reject any and all bids and to waive any irregularities or informalities in any Official Bid Form. Each bid for the Bonds must be on the Official Bid Form, must be enclosed in a sealed envelope addressed as set forth on such bid form, identified out- side in substance. "Bid for Water. Gas and Sewer Revenue Bonds, Series 1972"; and must be accompanied by a certified or cashier's check enclosed as a good faith deposit, payable to the order of the City,.in the amount of $17,500. No interest will be allowed on any such checks. The -checks of the unsuccessful bidders will be returned promptly following the award. The check of the successful bidder will be applied as part payment for the Bonds or if he fails to comply with the terms of his bid, will be retained by the City as liquidated damages, or if the City fails -to fulfill the conditions of this Notice, such deposit will be returned. The Bonds will be delivered in Mobile. Alabama; or at the option of the purchaser, At his expense, at Birmingham, Alabama, as soon as they and the supporting documents and proceedings may be prepared and adopted, Delivery will be made against payment in clearing house funds of the city in which the delivery is made. Notice of the.date on which delivery will be made will be given to the purchaser not less than 72 hours prior to such date. The Bonds will be accompanied by the customary closing papers, including a f certificate stating that there is no litigation pending affecting the validity thereof. The City will furnish to the successful bidder without cost the printed Bonds and the opinion of Messrs. Dumas, O'Neal & Hayes, approving the validity of the Bonds and the pledge of the revenues therefdr. No conditional bids will be considered but all bids will be construed to be conditioned upon the provisions of this Notice. Additional information may be obtained from the undersigned or from Thornton, Farish & Gauntt. Inc., 515 South Perry Street, Montgomery, Alabama 36104, Fiscal Adviser to the City. THE CITY OF FAIRHQPE, ALABAMA D By s/ Mayor OFFICIAL BID FORM City of Fairhope City Hall Fairhope, Alabama Gentlemen: November 14, 1972 For $875,000 principal amount of Water, Gas and Sewer Revenue Bonds, Series 1972 of the City of Fairhope, Alabama, described in the attached Official Notice of Sale, which Official Notice of Sale is incorporated herein by reference and is made a part of this pro- posal, and bearing interest at the per annum rates set out below (pay- able semiannually) we offer to pay $875,000 plus a premium of Dollars ($ ) plus accrued interest thereon from December 1, 1972, to the date of delivery. Principal Coupon Principal Coupon. Maturity Amount Rate Maturity Amount Rate 1973 $ 20,000 % 1984 $ 40,000 % 1974 201000 % 1985 45,000 % 1975 20,000 % 1986 45,000 % 1976 25,000 % 1987 .50,000 % 1977 25,000 % 1988 50,000 1978 . 25,000 % 1989 50,000 % 1979 30,000 % 1990 55,000 % 1980 30,000 % 1991 55,000 % 1981 35,000 % 1992 60,000 % 1982 35,000 % 1993 60,000 % 1983 405000 % 1994 602000 % In accordance with the terms,of the Official Notice of Sale, we enclose herewith, as a good faith deposit, a.certified or cashier's check payable to the order of the City, in the amount of $17,500. The undersigned hereby acknowledges receipt of a copy of the Official Notice of Sale. Respectfully Submitted, Computation of Net Interest Cost (For information only -not consti- tuting part of the bid) Total Coupon Interest Cost $ Less Premium Net Interest Cost $ Average Annual Net Interest Cost rate % Return of good faith deposit is acknowledged this 14th day of November, 1972 No addition, alteration or enlargement to this bid form will be acceptable.