HomeMy WebLinkAbout11-18-87November 18, 1987 8303
Minutes of the Special Meeting of the Pulaski Town Council held November 18, 1987, at
11:00 a.m. in the Town Manager's Office in the Municipal Building.
There were present: Mayor Gary C. Hancock, presiding
Councilmembers: John A. Johnston, Robert N. Glenn, Andrew L. Graham,
James M. Neblett, James R. Neighbors, W. H. Schrader,
Ira S. Crawford
Also Present: Frank Terwilliger, Town Attorney
Anne Burgess, Assistant Town Manager
Ruth A. Harrell, Clerk
Visitors: Dee Lindsey and Bob Thomas of the news media
Webster Day, Bond Counsel
Gary Cutlip
Mildred Bolen
WAIVER OF NOTICE OF SPECIAL MEETING
1
We, the undersigned, duly elected members of the Council of the
6
Town of Pulaski, Virginia, hereby waive notice of a Special Meeting of
s Said Council at 11:00 a.m., on the 18th day of November, 1987, for the
purpose of receiving bids on the bonds and adoption of resolution which
includes the low bidder and interest rate; and any further business that
may legally come before the Council.
WITNESS our signatures this 18th day of Nove
. !i
l
BONIIS -
Mayor Hancock advised the purpose of the special meeting was to receive bids
on the bonds and to adopt a resolution which would include the low bidder and interest
rate.
Town Manager McKeever was in attendance at the bid opening. in Richmond and a
direct telephone line to the Council was established.
Nine bids were received and opened for the $4,000,000 General Obligation Public
Improvement Bonds, Series, 1987, with low bidder being Craigie, Inc., Investment House
in Richmond, with amount of bid being $3,964,400, true interest cost (percent) 6.7779957.
A resolution was then presented authorizing the issuance, sale and award of
$4,000,000 General Obligation Public Improvement Bonds, Series 1987, of the Town
8304 November 18, 1987
of
Pulaski, Virginia, and providing for the form, details and payment thereof.
Councilman Crawford so moved that reading of the resolution be waived, second
by Councilman Graham and carried.
Councilman Glenn so moved that resolution be adopted, seconded by Councilman
Neblett and carried on the following recorded vote:
RESOLUTION John A. Johnston - Aye James R. Neighbors - Aye
Robert N. Glenn - Aye. W. H. Schrader - Aye
ADOPTED Andrew L. Graham - Aye Ira S. Crawford - Aye
James M. Neblett - Aye Mary Lou Copenhaver -Absent
Resolution follows
Mr. McKeever advised that the 15 year debt retirement schedule and
1iond 'insurance proved attractive to the investors.
At 11:37 a.m. on motion made by Councilman Neblett, seconded by i~
i
Councilman Schrader and carried, Council adjourned.
APPROVED:
C./
Mayor
ATTEST:
"- ~ , ~~~
C rk of Council