Austin: $8.75M Bonds for City Upgrades
- Approved advertising for bids on $8.75 million in city bonds.
- Funds are designated for significant infrastructure projects including the municipal airport, parks, roads, hospital improvements, and utility upgrades (electric, water, and sewer systems).
- Prospective bidders for these bonds were invited to submit sealed proposals by January 30, 1958.
Full Transcript
Minutes of the City Council City of Austin, Texas Regular Meeting December 19, 1957 10:00 Α. Μ. Council Chamber, City Hall The meeting was called to order with Mayor Miller presiding. Roll Call: Present: Councilmen Long, Palmer, Pearson, White, Mayor Miller Absent: None * * * Councilman Palmer offered the following resolution and moved its adoption. (RESOLUTION) 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 advertise for bids on the sale of Bonds of the City of Austin at 10:00 A. M. January 30, 1958, as follows: Municipal Airport General Obligation Bonds, authorized at an election May 12, 1956 $ 300,000.00 Parks and Playground General Obligation Bonds, authorized at an election May 12, 1956 200,000.00 Rights of Way General Obligation Bonds, authorized at an election May 12, 1956 200,000.00 Hospital Improvement Bonds, authorized at an election May 7, 1946 100,000.00 Streets, Bridges and Drainageway General Obligation Bonds, authorized at an election May 12, 1956 1,200,000,00 General Obligation Bonds Total $2.000,000.00 Electric Light and Power System Revenue Bonds authorized at an election May 12, 1956 Waterworks System Revenue Bonds, authorized at an election May 12, 1956 Sewer System Revenue Bonds, authorized at an election May 12, 1956 Revenue Bonds Total $4,650,000.00 1,250,000.00 850,000.00 $6,750,000.00 Advertisements for such bids shall be in the usual and customary form and shall be published at least once in The Austin Statesman, Austin, Texas, and in The Bond Buyer, New York, New York, and in addition shall be given such circulation as will invite attention to the proposed sale. The right shall be reserved to the City of Austin to reject any and all bids, and advertisements shall direct the filing of sealed bids to be opened by the City Council at a regular meeting held for such purpose in the City Hall at the time and date hereinbefore set forth. The motion, seconded by Councilman White, carried by the following vote: Ayes: Councilmen Long, Palmer, Pearson, White, Mayor Miller. Noes: None * * There being no further business the Council adjourned at 12:40 P.M. subject to the call of the Mayor. ATTEST: /s/Elsie Woosley City Clerk APPROVED: /s/Tom Miller Mayor