HomeMy WebLinkAbout34 of 1915 - A resolution rejecting all bids received for the sale of $300,000 Water and Sewer Bonds and authoriz �s
,,, ,.,-.',.•:,%flrt4t.:'5,7:','-',.,i-•.;:.-'-..7.,'•:,---..:'.'.':',. -.•-'''', ...,?sg4434-:
a 1-lu rNz
iT
Reie�tir g.:a],l:.:bi.4is...r.eceived -
f the sale of the.$3'Q4,000
ester, and Sewer•bonds 'and hO ,•
.,
-win e'"Git .Rec rder to
M
�„..AEAD AND
rs
of tic�eoeeti
••
a s
R �
ROLL CALL „„
VOTING Yes No
Salt lake City, Utah, June 7, 1915.
Lawrence
Morris
I nose that theaceetl.
Shearman
Wells '
Mr.Chairman . . . .
Result NONISIDISIMENCE
RESOLUTION .
WHEREAS, On April 19, 1915, the Board of Commissioners of
Salt Lake City duly paesed a resolution authorizing and directing
the Mayor and City Recorder to advertise for bids for the purchase
of $300,000.00 water and sewer bonds of the $900,000.00 water and
sewer bonds authorized to be issued and sold, by the qualified
electors of Salt Lake City at an election duly held February 18,
1914; and
WHEREAS, Pursuant to and in conformity with said resolution
the Mayor and City Recorder duly advertised for bids for the
purchase of said bonds; and
WHEREAS, In accordance with said resolution and said adver-
tisement, the Board of Commissioners in regular session on the
first day of June, 1915, at ten o'clock A. M., opened all bids in
the hands of the City Recorder at that hour and day; and
WHEREAS, There were three bids made for the purchase of said
bonds, to-wit:
Palmer Bond and Mortgage Company of Salt Lake City, who bid
par,less $7990.00 for attorney's fees and expenses;
R. M. Grant & Co. of New York City, who bid par, accrued
interest and premium of $11.50, less $8785.50 for expenses; and
Sweet, Caueey, Foster & Co. of Denver, Colorado, who bid par,
less $9660.00 for expensed;` and
-1-
WHEREAS, The resolution aforesaid and the advertisement for
the purchase of said bonds, reserved the right to reject any and
all bids, and to accept any bids deemed advantageous to the City; and
WHEREAS, After considering said bids, the Board of Commissioners
is of the opinion that neither of said bide is advantageous to Salt
Lake City, and that each and every of said bids should be rejected:
NOW THEREFORE, Be it resolved, That the bids of Palmer Bond
and Mortgage Company of Salt Lake City, R. M. Grant & Co. of New
York City, and Sweet, Causey, Foster & Co. of Denver, Colorado, for
the purchase of the bonds aforesaid, and each of them, be and the
same are hereby rejected.
The City Recorder is hereby directed to return to each of
said bidders the certified checks accompanying their bid, with
notification of this action by the Board of CommissSone .
2
Adopted by the Board of Commissioners of Salt Lake City, Utah,
June 7, 1915.
elf
Mayor .
Cit3t1Recorder.