Austin Secures Hospital Funding Deal
- The city convened to address the crucial financing of its new City Hospital.
- Officials reviewed competitive bids from three different financial firms for the City Hospital Bonds.
- The proposal from Halsey, Stuart & Company of Chicago was ultimately accepted as the most favorable offer for the bond sale.
Full Transcript
488 SPECIAL MEETING OF THE CITY COUNCIL: Austin, Texas, August 15, 1921, The Council was called to order by the Mayor. Roll call showed the following members present: Kayor Yett, Councilmen Copeland, Eyres, and Haynes, 4; absent, Councilman searight. Councilman Copeland moved that the Council postpone meeting until August 16th at three o'clock P. M. to receive bids on Hospital Bonds. Motion prevailed by the following vote: Ayes, Mayor Yett, Councilmen Copeland, Eyres and Haynes, 4; nayes, none, Councilman Searight absent. The Council then recessed, SPECIAL MEETING OF THE CITY COUNCIL: Austin, Texas, August 16th, 1921, The Council was called to order by the Mayor. Roll call showed the following members present: Mayor Yett, Councilmen Copeland, Eyres, Haynes and Sea- right, 5; absent, none. The following bids on City Hospital Bonds were opened and read: Halsey, Stuart & Company of Chicago, Ill., par and accrued interest to date, with $1,035.00 commission; T. H. Bowman & Company, par and accrued interest to date, with 3-74/100% commission; Security Trust Company, par and accrued interest, with $1167.00 commission. Councilman Copeland moved that the bid of Halsey, Stuart & Company be accepted, same being the highest and best bid. Motion prevailed by the following vote: Ayes, Mayor Yett, Councilmen Copeland, Eyres, Haynes and Searight, 5; nayes, none, The Council then adjourned. : :