HomeMy WebLinkAbout1978-08-09 Council minutesPii wlUl IC'Ic.0 BY JORM MIGkOLAB
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MINUTES OF OFFICIAL ACTIONS OF COUNCIL
AUGUST 9, 1978
The cost of publishing the following proceed-
ings & claims is $ . Cumulative cost for
this calendar year for said publication is $
Iowa City Council, adjourned session, 8/9 78,
1:00 P.M., at Civic Center. Councilmembers present:
Balmer, deProsse, Roberts, Vevera. Absent:
Erdahl, Neuhauser, Perret. Mayor Vevera presiding.
Mayor Vevera opened the meeting for the purpose
of receipt of bids for the sale of $2,250,000
General Obligation Bonds. Seven sealed bids were
received and not opened. There were no oral bids.
Consultant Paul Speer recommended acceptance of
Continental Illinois National Bank & Trust Co. of
Chicago bid with net interest rate of 4.764722.
Moved by Balmer, seconded by deProsse, to adopt
RES. N78-374, Bk. 50, pp. 1007-1011, DIRECTING
SALE OF $2,250,000 GENERAL OBLIGATION BONDS (FOR
AN ESSENTIAL CORPORATE PURPOSE), to Continental
Illinois National Bank & Trust Co. of Chicago.
Affirmative roll call vote unanimous, 4/0, Erdahl,
Perret & Neuhauser absent.
Moved by deProsse, seconded by Roberts, to
return the checks to the unsuccessful bidders.
Motion carried unanimously,
Moved by Balmer, seconded by deProsse, to
adjourn to executive session to discuss litigation.
Affirmative roll call vote unanimous, 4/0, Erdahl,
Neuhauser, Perret absent, 1:15 P.M.
A more complete description of Council activities
is on file in the office of the City Clerk.
s/ROBERT A. VEVERA, MAYOR
s/ABBIE STOLFUS, CITY CLERK 8/23/78
Submitted for publication on 8/18/78.
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JORM MICR(�LAB
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