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HomeMy WebLinkAbout8 of 1916 - A resolution accepting the bid of Merrill, Oldham and Company, for $300,000.00 Water and Sewer Bonds REMARKS: 77n ; Resolution No. ByCornnissioner Scheid Accepting the bid of Merrill. Oldham & Company, for $300,000.00 water and sewer bonds: • i7A0 AND i4LOPTED 7-:T, 1g16 ROLL CALL VOTING — AYE BAY Salt Lake Coy,Utah,__February 191__6 Green Scheid-___--- {/f 1 move that the resolution be adopted. ShearmanJ J Wells y Mr.Chairman . Result 1 RESOLUTION WHEREAS, The Board of Commissioners of Salt Lake City passed a resolution on the 13th day of January, 1916, authorizing and directing the Mayor and City Recorder to advertise for bids for the sale of $300,000.00 water and sewer bonds of the $900,000.00 water and sewer bonds authorized to he issued and sold, by the qualified electors of this city at the election held February 8, 1914, said notice to bidders to be published daily for a period of two sucoes- sive days in the following newspapers: Salt Lake Tribune, Salt Lake Herald-Republican, Salt Lake Telegram, and Deseret Evening News, daily papers of general circulation, and published in Salt Lake City; also in three issues of the Daily Bond Buyer, a paper of general circulation in financial quarters, published in New York City, New York; said notice to describe the bonds so to be sold as set out in an ordinance passed by the Board of Commissioners of Salt Lake City, June 22, 1914, and state that the whole purchase price of said bonds must be paid at the offioe of the City Treasurer of Salt Lake City,. Utah, on or before March 1, 1916, at which time and place said bonds shall be delivered to the purchaser, and that all coupons attached to said bonds up to and including January 1, 1916, will be detached from each of said bonds before delivery to the purchaser, and that the purchaser will be required to pay interest on said bonds from the first day of January, 1916, to the date of delivery of the same, and that said -1- notice should require that all bids for the purchase of said bonds should be accompanied by a certified check in the sum of 4'6,000.00, payable to the order of the Treasurer of Salt Lake City, as guaranty of good faith on the part of the bidder, and to reimburse Salt Lake City for its loss and expense in this behalf in case the bidder should not perform his bid after acceptance thereof; and that no conditional or qualified bids, except as to the legality of the issue, and no bids for lees than the face value of said bonds should be accepted; and that Salt Lake City reserves the right to reject any and all bids, and to accept any bid or bids deemed advantageous to the City, and that all bids should be well sealed and planed in the hands of the City Recorder of Salt Lake City on or before the first day of February, 1916, at ten o'olook L. M., at which time said bids would be opened at the regular meeting of the Board of Commissioners of Salt Lake City; and WHEREAS, Pursuant to and in conformity with said resolution, the Mayor and City Recorder duly advertised for said bide; and WHEREAS, There were twenty-six bids,reoeived, to-wit: N. S. ralpold, Pueblo, Colorado; Union Trust & Savings Bank, Spokane, Washington; James N. Wright & Co., Denver, Colorado; Kean, Taylor & Co.,.Chioago, Illinois, Mississippi Valley Trust Co., St. Louis, Mo.; Stacy & Braun, Toledo, Ohio; John Nuveen & Co., Chicago, Ill.; pm. A. Reed & Company, by Utah State National Bank, City; Prescott & Snyder, Kansas City, Mo.; Fidelity Trust Company, Kansas City, Mo.,Smith, Moore & Company, St. Louis, Mo.; Bolger, Mosser & rilliams, Chicago, Ill.; George'B. Gibbons & Co., New York City, by National Bank of Republio, City; MaCorniok & Company, City; Sweet, Causey Foster & Co., Denver, Colo.; C. W. McNear & Co., Chicago, Ill., Provident Savings Bank & Trust Co., Cincinnati, Ohio; The Equitable Trust Company of New York; Redmond & Co., New York City, Lumbermens Trust Company, Portland, Oregon; Columbia Trust Company, City; The Continental & Commercial Trust & Savings Bank, The Inter- -2- national Trust Company, Denver, Colo.; Yard, Otis & Taylor, Chicago, Ill., J. C. Mayer & Company, Devitt, Trtmble & Co.; Tillotson & Wolcott Company, Cleveland, Ohio, C. E. Denison & Company, Ottis & Company; Harris Trust & Savings Bank, Chioago, Ill.; R. M. Grant & Company; Estabrook & Company, The Rookery, Chioago, Ill.; Mercantile Trust Co., St. Louis, Mo., Kaufman, Smith, Emery & Co., St. Louis, Mo., E. H. Rollins & Slue, Denver, Colo., First Trust & Savings Bank, Chicago, Ill. ; Palmer Bond & Mortgage Co., City; Merrill, Oldham & Co. ; and WHEREAS, After considering said bids, the Board of Commis- sioners i6 of the opinion that the bid of Merrill, Oldham & Company, of Boston, Mass., for all and each of said bonds, is the highest, best end most advantOeous to the City, which bid was and is as follows: $1,040.80 and accrued interest for each one thousand dollar bond, subject to being furnished with the usual papers establishing the legality of the issue to the satisfaction of their attorneys. NOW THEREFORE, BE IT RESOLVED, That the bid aforesaid of Merril: Oldham & Company be, and the same is hereby declared to be the highest, best and most advantageous to Salt Lake City, and that said bid be, and the same is hereby accepted. That the City Recorder is hereby d///ir��reoted to return the checks of all other bidders. � Ck • ( � j c . Adopted by the Board of Commissioners of Salt Lake City, Utah, February 3, 1916. Mayor . City Recorder. .3.