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HomeMy WebLinkAbout08-11-1976 Adjourned Meeting (2)EXCERPTS FROM THE MINUTES OF AN ADJOURNED REGULAR MEETING. OF THE MAYOR AND CITY COUNCIL OF THE CITY OF FAIRHOPE, ALABAMA HELD ON AUGUST 11, 1976 The Mayor and City Council of the City of Fairhope, Alabama, met in adjourned regular session at the city hall in the said city on August 11, 1976, at 10:45 o'clock, A.M., Central Daylight Time, in con- tinuance of and pursuant to the adjournment of the regular meeting of said City Council held on August 9, 1976. Mayor James P. Nix presided as chairman of the meeting and called the meeting to order. Marie Moore, the City Clerk, acted as.clerk of the meeting. On roll call, the following were found to be present: Mayor Nix and Councilmen , Henry G. Bishop, Samuel E. Box, 011ie E. Deese and Barney L. Skull; and the following were found to be absent: E, The chairman stated that a quorum was present and that the meeting was open for the transaction of business. The chairman then presented to the meeting certain bidding documents and the Official Statement (including an Official Invitation for Bids) which had been distributed by the City's financial advisor, The Frazer Lanier Company Incorporated, to prospective bidders for the City's General Obligation Recreational Warrants. Councilman /�.�',J3�S Hr,p then introduced the following resolution: -1- BE IT RESOLVED by the Mayor and City Council of the City of Fairhope, Alabama, that the action of the Mayor, the City Clerk and The Frazer Lanier Company Incorporated in causing to be distributed bidding docu- ments and an Official Statement, in the form presented to this meeting to prospective bidders for the City's General Obligation Recreational Warrants be, and said action hereby is, ratified and confirmed in all respects and the said Official Statement is hereby adopted as the Official Statement of the City with respect to said warrants. Councilman �i , (Y, I s Ho ° moved that the foregoing resolution be aaCdopted, which motion was seconded by Councilman "1A M ?o Y- , and upon the motion being put to vote, the following vote was recorded: Yeas: Mayor Nix Councilmen Henry G. Bishop Box Deese S1dull Nays: None The chairman thereupon declared that the foregoing resolution had been adopted. The chairman then stated that, the hour of 11:00 o'clock, A.M. having arrived, this is the time, date and place which had been set in the City's Offi- cial Invitation for Bids dated July 1, 1976 for the opening of sealed bids for the purchase of $300,000 principal amount of General Obligation Recreational Warrants, of the City to be dated July 1, 1976. All bids that had been filed were then, in the presence of the Mayor and City Council and all others assembled, publicly opened and read by the City Clerk. The fol- lowing is a list of all bids that were filed, and publicly opened as aforesaid, for purchase of the said warrants: I The chairman announced that each of the aforesaid bids was accompanied by a bank cashier's or bank treasurer's check or a certified check for $6,000, payable to the order of the City, drawn on a bank having membership in the Federal Deposit Insurance Corporation, that each of the aforesaid bids was made on the Official Bid Form provided for bidding on the said warrants, and that each of the said bidders had, therefore, qualified to bid in the manner provided in the said Official Invitation for Bids with respect to the said warrants. After tabulation of the bids had been com- pleted and after the bids had been considered, it appeared that the bid filed by Berney Perry & Co. and Hugo Marx & Co. was the best bid received and reflected the lowest total net interest cost to the city for the aforesaid General Obligation Recreational Warrants, computed in the manner provided in the said Official Invitation for Bids. Councilman. ISHo then introduced the following resolution in writing, which was read to the meeting: BE IT RESOLVED by the Mayor and City Council of the City of Fairhope, Alabama, that the bid of for the purchase from the City of $30 ,000 principal amount of General Obligation Recreational Warrants, of the City reflect- ing a total net interest cost to the City (computed in accordance with the Official Invitation for Bids of the City with respect to the warrants dated July 1, 1976) in the amount of $ 151,475.00 is hereby found and declared to be the best bid for said warrants and the bid reflecting the lowest total net interest cost computed in the aforesaid manner; and that the said warrants are hereby sold to said bidder in accord- ance with said bid; and that the Mayor and City Council -4- will at a later date adopt an appropriate ordinance authorizing the issuance of said warrants and Confirm- ing said sale. ADOPTED and APPROVED this llth day of August, 1976. Authenticated: City C erk Councilman , rs cp moved that the foregoing resolution be adopted, which motion was seconded by Councilman scat, m o 2X , and upon the motion being put to vote, the following vote was recorded: Yeas: Mayor Nix Councilmen Henry G. Bishop Box Deese s4ull Nays: None. The chairman thereupon declared that the foregoing resolution had been adopted. There being no further business to come before the meeting the same was, on motion duly made, seconded and unanimously adopted, adjourned. MI!