1952 01 22 CC Minutes, Specialv
MINUTES OF THE SPECIAL MEETING OF THE
CITY-CGUNCIL OF THE CITY OF BAYTOWN,TEXAS
January 22, 1952
The City Council of the City of Baytown, Texas met in special session
on Tuesday,.Janpary 22, 1952 at 7:30 P. m. in the City Manager's Office of the
Baytown City Hall with the following members in attendance:
J. A. Ward
Mayor
E.
W.
Buelow
Councilman
R.
H.
Pruett
Councilmam
W.
B.
Reeves
Councilman
H.
M.
Uampbell
Councilman
C.
D.
Middleton
City Manager
Absent: R.
B.
Bergeron
Councilman
M.
L.
Campbell
Councilman"
George Chandler
City Attorney
Edna
Oliver
City Clerk
The mayor called the meeting rho. order .and the following business
was transacted:
Brandenberaer - Retiring Waterworks & Sewer Bonds - City of Goose Creek
John Brandenberger, representing Rotan, Mosle and Noreland, presented a
proposal for the redemption of $81,000 City of Goose Creek Waterworks & Sewer
Bonds. These bonds are optiofilfor redemption on March 1, 1952• The refunding
bonds in the par amount shall be dated March 1, 1952 and bonds maturing March 1,
1953 through 1964 shall bear interest at the rate of 2j% per annum; bonds
maturing March 1, 1965 through 1968 shall bear interest at the rate of 2 3/4% per
annum. At present these outstanding bonds are bearing an interest rate of 3
per annum and by the redemption and refunding of the $81,000 bonds yet due,
at a lower rate of interest, the city would save approximately $11,000:00
The firm of Rotan, Mosle and Moreland agreed.to pay all legal fees and costs
of printing and do all other details involved in the refunding without costs
to the city..Councilman Reeves moved that the,.,propoodl, as presented by Mr.
Brandenperger, be adopted. Councilman H. M. eampbell seconded the motion.
The roll call vote was as follows:
Roll Call: Ayes: Mayor Ward Nays: None
Councilman Buelow
" Pruett
" Reeves
" H. M. Campbell
Resolution
The following resolution was introduced and read:
RESOLUTION EXERCISING RESERVED OPTION
TO REDEEM CERTAIN OUTSTANDING BOLDS
"WHEREAS, there are now outstanding arM unpaid $81,000.00 Waterworks and
Sewer Bonds, Series 1941, dated March 1, 1941, numbered from 35 to 115, both
inclusive, of the City of Goose Creek, Texas; and
"WHEREAS, in the ordinance authorizing the issuance of said Waterworks and
Sewer Bonds, Series 1941, said City of Goose Creek reserved the right to re-
deem said bonds on March 1, 1952 or on any interest paying date thereafter; and
"WHEREAS, since the issuance of said bonds said City of Goose Creek has
been consolidated with the City of Baytown, Texas, and said City of Baytown is
the successor to said City of Goose Creek; and
"WHEREAS, said City of Baytown now desires to call said bonds for redemption
on March 1, 1952; Thdrefore
"BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN:
"That the City of Baytown, Texas, suceessor to the City of Goose Creek,
Texas hereby elects to exercise the reserved option to redeem at par and accrued
I I m
interest on March 1, 1952 the hereinafter described bonds and the City Manager
and City Clerk of the City of Baytown, Texas;.. successors to the City Manager -City
Secretary of the City of Goose Creek, Texas, are hereby authorized and directed
to give notice in the manner prescribed in the ordinance authorizing said bonds
that same have been called for redemption, such notice to be substantially in the
following form:
NOTICE OF BONDS CALLED FOR REDEMPTION
Notice is hereby given that the City of Baytown,, Texas, successor
to the City of Goose Creek, Texas, has elected to exercise the
T reserved option to redeem $81,000 City of Goose Creek, Texas,
14aterworks and Sewer Bonds, Series 1941, in the denomination of
$1,000.00 each, numbered from 35 to 115, both inclusive, aggregating
$81,000.
All of said bonds have been called for redemption on March 1, 1952
at the First National Bank, Baytown, Texas, suucessor to the First
National Bank, of Goose Creek, Texas, which is the paying agent for
said bonds, where said bonds shall be presented for payment at par
and accrued interest to March 1, 1952. Said bonds shall cease to
bear interest from and after March 1, 1952.
11
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By order of the City Council of the City of Baytown, Texas.
/s/ C. Darwin Middleton
City Manager, City of Bayt own ,Texas
/s/ Edna Oliver
City Clerk, City of Baytown, Texas
PASSED and APPROVED on this 22nd day of January, 1952.
ATTEST:
/s/ Edna Oliver
City Clerk
/s/ J. A. Was rd
Mayor
Councilman H. M. Campbell moved to adopt the resolution as read. Council -
gian Pruett seconded the motion. The roll call vote was as follows:
Roll Cell: Ayes: Mayor Ward Nays: None
Councilman Buelow
" Pruett
" Reeves
" H. M. Campbell
Financial Report
The City Manager presented a financial report on the City of Baytown
Unappropriated Funds, and explained the present surplus in the many different
accounts. The council entered into a general discussion on future capital
improvements, afterwhich, the Mayor asked that the item be placed on the agenda
for the next regular meeting of the council.;
Adi ournment
Councilman. Pruett moved to adjourn. Councilman Buelow seconded the motim.
The ayes were unanimous and the Mayor declared the meeting adjourned.
ATTEST:
City Clerk
J.A. Ward,