01-10-1951 - Regular Meeting - MinutesWEST COVINA CITY COUNCIL MEETING
January lOn 1951
The regular meeting of the West Covina City Council was called to order
at 8:00 o°clods P.M. at the West Covina City Hall.
Present: Mayor DeLay, Councilmen F'lotten, Hurst, Mossberg and Van Horn.
Also Present: J. C, Nichols, R. E. Graham, Mrs. Sayers and S. R, Zimmenaan.
• This being the time and place for opening of bids for the $110,000.00 bonds
of the City of best Covina, California,_designated Municipal Improvement Bonds.,
19519 the following bids received pursuant to the Notice of Sale were publicly
opened, examined and read:
California Bank and Payne, Webber, Jackson & Curtis bid Par $110,000.00,�
accrued interest to date of delivery and a premium of $837.50 for bonds
bearing interes*ate of 1-3/4% per annum, payable semiannually.
Bann of America bid Par $110,000.00, accrued interest to date of delivery
• and a premium of $149.00 for bonds bearing interest at rate of 1-3/4% per
annum, payable semi-annually.
Dean Witter & Co. and Taylor & Co, bid Par $110,000.00, accrued interest
to date of delivery and a premium of $262.00 for bonds bearing interest
at rate of 1®3/4% per any, payable semi-annually.
• Weeden & Co. bid Par $11.0,000.00, accrued interest to date of delivery
and a premium. of $111.00 for bonds bearing interest at rate of 1®3/4% per
annum, payable semi-annually.
Security -First National Bank of Los Angeles and R. H. Moulton & Co. bid
$110,000.00, accrued interest to date of delivery and a premium of
$1221.00 for bonds bearing interest at rate of 2% per annum, payable
semi-annually.
• William R. Staats & Co. bid Par $320,9000.00, accrued interest to date of
delivery and a premiums of $2115.00 for bonds bearing interest at rate of
2% per annum, payble semi-annually.
Hannaford & Talbot bid Par $110,000.00, accrued interest to date of
delivery and a premium of $250.00 for bonds bearing interest at rate of
21% per annuffia fable sami-annually.
After considering the various bids, it was moved by Councilman Hurst,
seconded by Councilman Mossberg, that Resolution No. 260 entitled "Resolution
of the City Council of the City of blest Covina awarding bonds of said City
to best bidder" be accepted, upon the following vote:
AYES: Councilmen DeL&y, F'lotten, Hurst, Mossberg and Van Hone.
NOES: Councilmen - None
ABSENT: Councilmen - None
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Said resolution No. 260 was declared adopted.
Resolutions No. 260 ® a resolutions of the City Council of the City of West
Covina auarding bonds of said City to best bidder. On motion by Councilman
Hurst, seconded by Councilman Mossberg, said resolution was adopted by the
following votes:
AYES: Councilmen Delay, Flotten, Hurst, Mossberg and Van Horn.
NOES: Councilmen ® None.
ABSER: Councilmen m None.
Resolution Hoo 261 — a resolution supporting the furthemnce of the Freeway
Program. On motion by Councilman Fan Hom, seconded by Councilman Hurst,
said resolution vas adopted.
It was moved by Councilman Flotten, seconded by Councilman Mossberg and carried,
that the reports of the Police Dept., Treasurer, and BuMinrg Dept. be accepted
and filedo
It was moved by Councilman Mossberg, seconded by Councilman Flotten and carried,,
that the bills be paid as audited.
General Fund® ®$5468.04
Street Fund® a 4 4 $1493.24
The Clams is authorized to advertise: for bids for a new 1951 Foid,
The City Attorney is directed to dxwv a proclamation in regard to Arbor Day,
Resolution No.. 262 m a resolution of the City Council of West Covina accepting
deed from Frank H. Bandy and Louise 0. Bandy and more particularly described
in said deed.
Meeting andjouraed at 10:50 P.M. /
FRANK DELAY C. C. TOIAND
Mayor, City of West Covin City Clerk, City of West M