464 If you so request, we will place insurance covering damage to the work, or any. part of it, by fire. VII. PROGRESS REPORTS. We will render reports to you monthly showing the progress of the work in its various parts and any changes that it may seem advisable to make in the estimates of cost or of time required for completion. VIII.AUDIT. Our correspondence, records, vouchers and books of account, in so far as work done or money expended under this agreement are concerned, will be always open to your inspection. IX. ACCEPTANCE AND APPROVAL. On acceptance of this proposition by you, and its approval by the President or a Vice-President of this Company, it will constitute an agreement between us." THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF AUSTIN: THAT the City Manager be and he is hereby authorized and directed to accept said proposal, which shall constitute the contract between the United Engineers & Constructors, Inc., and the City of Austin for the performance of the above mentioned service and work. The above resolution was adopted by the following vote: Ayes, Mayor McFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; naye, none, Councilman Reed moved that the Council recess, subject to call of the Mayor. Motion was seconded by Councilman Mueller, and same prevailed by the following vote: Ayes, Mayor MoFadden, Councilmen Mueller, Pannell, Reed, and Steok, 5; nays, none. The Council then recessed. SPECIAL MEETING OF THE CITY COUNCIL: DW. M Faer Approved: Mayor. Austin, Texas, December 16th, 1929. The Council was called to order by the Mayor. Roll call showed the following Mayor MoFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; members present: absent, none. Mayor McFadden announced that the time was up for submitting bids for One Million Dollars ($1,000,000.00) of Austin City Bonds, and the following bids were then opened and read: Bid of Continental. Illinois Co., Chicago; Harris Trust and Savings Bank; Foreman National Corporation; Curtis and Sanger; Garrett and Company, Dallas, for par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $3,575 on 4-3/4% Bonds. Bid of Caldwell & 00.3; C. W. MoNear & Co.; Braun Bosworth & Co.; Kountze Bros.; Otis & Co.; for par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $12,507.00 on 4-3/4% Bonds. Bid of Stranahan, Harris & Oatis, Inc., Toledo, Ohio; par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $18,567.00 on 5% Bonds. 465 Bid of J. E. Jarratt Company, San Antonio, Texas; Ames, Emerich and Company, Chicago, Illinois; Kean, Taylor and Company, New York, New York; Boatmen's National Company, St. Louis, Missouri; Northern Trust Company, Chicago, Illinois; Prescott, Wright, Snider Company, Kansas City, Missouri; par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $1,990.00 on 4-3/4% Bonds. Bid of The Guaranty Co. of New York; The Detroit Co. of New York; G.H.Walker & Co. of St. Louis; First National Company, St. Louis; par and accrued inter- est from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $3,310.00 on 4-3/4% Bonds. Bid of Bankers Company of New York, by Security Trust Company of Austin par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $16,790.00 on 5% Bonde. Bid of Halsey Stuart and Company; Stifel, Nicolaus and Company; National City Company; Dallas Trust and Savings Bank, par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $4,380.00 on 4-3/4% Bonde. Bid of Dallas Union Trust Company; Lehman Bros. and Associates; par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $2,100.00 on 4.75% Bonds. Bid of T. H. Bowman, par and accrued interest from date of Bonds to date of. delivery at Austin, Texas, plus a cash premium of $15,000.00 on 5% Bonde. Bid of Seasongood & Mayer, Cincinnati; John Nuveen & Co., Chicago; Provident Savings Bank & Trust Co., Cincinnati; The Weil, Roth & Irving 00., Cincin- nati, Southwest Investment Co., Austin; par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $757.50 on 4-3/4% Bonds. Thereupon, after due consideration of said bids by the City Council, Councilman Reed moved that it appearing that the bid of Caldwell & Company, O.W.Mo- Near & Company, Braun Bosworth & Company, Kountze Bros. and Otis & Company, same being for the entire issue of One Million Dollars ($1,000,000.00) of Bonds, dated December 16, 1929, and maturing January 1st, 1931, to January 1st, 1960, all bearing interest at the rate of 4-3/4% per annum, said bid being for par and accrued interest, plus a cash premium of $12,507.00, and said bid agreeing to pay the cost of printing bonds and attorneys fees, was the highest and best bid submitted, that same be accepted and that said Caldwell & Company, O. W. MoNear & Company, Braun Bosworth & Company, Kountze Bros., and Otis & Company be awarded the sale of said bonds. Motion was seconded by Councilman Pannell, and same prevailed by the following vote: Ayes, Mayor McFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; nays, none. The bid of said Caldwell & Company, C. W. McNear & Company, Braun Bosworth and Company, Kountze Bros., and Otis & Company, as accepted by the City Council, is as follows: "Honorable Mayor and City Council, Austin, Texas. Gentlemen: For One Million Dollars ($1,000,000.00) legally issued City of Austin, Техаs, coupon Bonds, dated December 16, 1929, of the denomination of One Thousand Dollars ($1,000) each, interest payable semi-annually, on the first day of January and July, except that the first interest coupon is for interest for six and one-half months and due July 1, 1930, comprising the issues and maturing serially in accordance with the schedule attached hereto, we will pay the following price: For Bonds bearing an interest rate of 4-3/4%, par and accrued interest from date of Bonds to date of delivery at Austin, Texas, plus a cash premium of $12,507.00. We agree to purchase the Bonds upon the approving opinion of Thomson, Wood and Hoffman, New York, and to pay for the opinion. We agree to pay the cost of printing the Bonds. We agree that delivery of Bonds will be made to us at Austin, Texas. 466 11 As evidence of our good faith, we are attaching hereto cashier's or certified check in the sum of Twenty Thousand Dollars ($20,000), said check to be held uncashed pending delivery of the Bonds to us in accordance with this bid. Should we fail to comply with the terms of this bid within fifteen days from date of delivery of approving opinion to us by Messrs. Thomson, Wood and Hoffman, the above mentioned chech may be cashed and proceeds used as full and complete liquidated damages by the City of Austin. SIGNED: Caldwell & 00. C. W. MoNear & Co. Braun Bosworth & Co. Kountze Bros.; Otis & Co. By O. A. Wheeler, Bidder." (See following page for Schedule attached to Bid) CITY OF AUSTIN, TEXAS, BONDS STREET IMPROVEMENT SANITARY SEWER PARKS AND PLAYGROUNDS ABATTOIR Total Maturity Dates Numbers Amount Numbers Amount Numbers Amount Numbers Amount Maturities January 1, 1931 1 9 inc. $ 9,000 January 1, 1932 10 18 inc 9,000 January 1, 1933 19 - 28 inc 10,000 1470 3 inc$ 3,000 - 6 inc 3,000 7- 9 inc 3,000 January 1, 1934 23- 38 inc 10,000 10-12 inc 3,000 1358 2 inc. $ 2,000 1 $ 1,000 $15,000 4 inc 2,000 2 1,000 15,000 7 inc 3,000 3 1,000 17,000 10 inc 3,000 4 1,000 17,000 January 1, 1935 39- 49 inc 110 11,000 13-15 inc 3,000 11 13 inc 3,000 5 1,000 18,000 January 1, 1936 50- 61 inc 12,000 16-18 inc 3,000 14 16 inc 3,000 6-7 inc 2,000 20,000 January 1, 1937 62 - 73 inc 12,000 19-22 inc 4,000 17 19 inc 3,000 8-9 inc 2,000 21,000 January 1, 1938 74- 86 inc 13,000 23-26 inc 4,000 20 22 inc 3,000 10-llinc 2,000 22,000 January 1, 1939 87- 99 inc 13,000 27-30 inc 4,000. 23 25 inc 3,000 12-13inc 2,000 22,000 January 1, 1940 100 113 inc 14,000 31-34 inc 4,000 26 29 inc 4,000 14-15inc 2,000 24,000 January 1, 1941 114128 inc 15,000 35-38 inc 4,000 30 33 inc 4,000 16-17inc 2,000 25,000 January 1, 1942 129143 inc 15,000 39 43 inc 5,000 34- 37 inc 4,000 18-19inc 2,000 26,000 January 1, 1943 144-159 inc 16,000 144 - 48 inc 5,000 38 41 inc 4.000 20-21inc 2,000 27,000 January 1, 1944 160176 inc 17,000 49-53 inc 5,000 42 45 inc 4.000 22-23inc 2,000 28,000 January 1, 1945 177194 inc 18,000 54- 58 inc 5,000 46 49 inc 4,000 24-25inc 2,000 29,000 January 1, 1946 195213 inc 19,000 59-63 inc 5,000 50 54 inc 5,000 26-27inc 2,000 31,000 January 1, 1947 214233 inc 20,000 64 - 69 inc 6,000 55 59 inc 5,000 26-29inc 2,000 33,000 January 1, 1948 234254 inc 21,000 70-75 inc 6,000 60 64 inc 5,000 30-32inc 3,000 35,000 January 1, 1949 255276 inc 22,000 76-81 inc 6,000 65 69 inc 5,000 33-35inc 3,000 36,000 January 1, 1950 277299 inc 23,000 82-88 inc 7,000 70-75 inc 6,000 36-38inc 3,000 39,000 January 1, 1951 300323 inc 24,000 89 - 95 inc 7,000 76 81 inc 6,000 39-41inc 3,000 40,000 January 1, 1952 324348 inc 25,000 96-102 inc 7,000 82- 87 inc 6,000 42-44inc 3,000 41.000 January 1, 1953 349-374 inc 26,000 103-110 inc 8,000 88- 94 inc 7,000 45-47inc 3,000 44,000 January 1, 1954 375402 inc 28,000 111 -118 inc 8,000 95101 inc 7,000 48-50inc 3,000 46,000 January 1, 1955 403-431 inc 29,000 119-126 inc 8,000 102-108 inc 7,000 51-54inc 4,000 48,000 January 1, 1956 432462 inc 31,000 127 -135 inc 9,000 109 116 inc 8,000 55-58inc 4.000 52,000 January 1, 1957 463-494 inc 32,000 136-144 inc 9,000 117124 inc 8,000 59-62inc 4,000 53,000 January 1, 1958 495528 inc 34,000 145-154 inc 10,000 125132 inc 8,000 63-66inc 4,000 56,000 January 1, 1959 529-563 inc 35,000. 155-164 inc 10,000 January 1, 1960 564 600 inc 37,000 165-175 inc 33 133141 inc 9,000 67-70inc 4,000 58,000 11,000 142150 inc 9,000 71-75inc 5,000 62,000 $600,000 $175,000 $150,000 $75,000 $1,000,000 467 468 Councilman Pannell moved that the Council recess, subject to call of the Mayor. Motion was seconded by Councilman Reed, and same prevailed by the following vote: Ayes, Mayor McFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; nays, none. The Council then recessed. REGULAR MEETING OF THE CITY COUNCIL: Approved: WM a Mayor. Austin, Texas, December 19, 1929. The Council was called to order by the Mayor. Roll call showed the following members present: Mayor McFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; absent, none. The Minutes of the last meeting were read and Councilman Mueller moved the adoption of same as read. Motion was seconded by Councilman Pannell, and same prevailed by the following vote: Ayes, Mayor MoFadden, Councilmen Mueller, Pannell, Reed and Steck, 5; nays, none. The application of M. H. Crockett for permit to erect a gasoline filling station at the intersection of Duval Street and the proposed Boulevard, which had been read at the last regular meeting and laid over, came up for consideration. In this connection, a large delegation of property owners in the neighborhood were present and protested against the erection of a filling station, or any kind of a business house, at this location. After a discussion of the matter, Councilman Mueller moved that the application be rejected. Motion was seconded by Councilman Steck, and same prevailed by the following vote: Ayes, Mayor McFadden, Councilmen Mueller, Pannell, Reed, and Steck, 5; nays, none. The application of W. E. Williams to erect a "drive-in" brick store building at the southeast corner of Rio Grande and Twenty-fourth Streets, which had been read at the last regular meeting and laid over, came up for consideration. A committee of interested property owners was also present and protested against the erection of a business house in this neighborhood. After considering the matter, Councilman Pannell moved that action upon same be postponed until after the Zoning Commission has completed its work and made a report. Motion was seconded by Councilman Steck, and same prevailed by the following vote: Ayes, Mayor MoFadden, Coun- cilmen Mueller, Pannell, Reed, and Steck, 5; nays, none. A petition signed by the property owners on Guadalupe Street between Fifth and Sixth Streets, asking that the hearing of property owners with reference to the paving of this street be held open until January 9th, 1930, was read and ordered filed. :