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HomeMy WebLinkAbout1931_11_23 Town Board Minutes ADJOURNED REGULAR MEETING OF TAE TOWN BOARD TOWN OF LIAMARONECKs N. Y. held November 23rd, 1931. The meeting was called to order by Supervisor Burton at 5 P. M. Present: Supervisor Burton Justices Boyd, Leedsiand Messersmith Town Clerk Marvin The presence was also noted of Counselor Gamble. The Supervisor declared that the Board was meeting pur- suant to call to receive bids for the issue of $2581000.00 Water Bonds and such other business as might properly come before the meeting. The Clerk presented the call of the meeting which was ordered approved as printed. The Clerk was directed to open the bids which had been received and he did so, shoring the following bids: NAMT OF BIDDER PRICE BID RATE OF IN`F George B. Gibbons & Co., Inc. $259,-035. 5.10 M & T Trust Company & Batchelder & Co. 258,387, 5.20 Larchmont National Bank & Trust Co. 259,100 5.40 The following resolution was offered by Justice Boyd and seconded by Justice Messersmith, to wit-: WHEREAS, $218,000 later 7orks System Bonds and $40,000 Water Distribution System Bonds of the Town of Mamaroneck have heretofore been duly authorized to be issued and have been duly advertised for sale , sealed proposals to be received: up to five ofclock P.M. , on the 23rd day of November, 1931 at No. 8 Flm Street, Village of Mamaroneck, in the Town of Mamaroneck, ';eldestchester County, New York; and YHTRFAS, at said time and place the following bids were received for said $2589000 bonds, to wit: NAB OF BIDDER PRICE BID RATE OF INS George B. Gibbons & Co. , Inc. $259:035. 5.10 M & T. Trust Company & Batchelder & Co. 258,387.. 5.20 Larchmont National Bank & Trust Co. 2599:100. and WHEREAS, the lowest rate of interest bid for said $258000 bonds stated in a multiple of either one- __ tenth or one-quarter of one per cent was five and one-tenth per cent } and VETIRF'AS, the 'highest and best bid complying with the terms of the notice of sale at such lowest rate of interest was the bid of George B. Gibbons & Co. , Inc. , who has offered to purchase said $2589000 bonds at said rate of interest and to pay therefor par value , accrued interest and a premium of $I,A35. I RR•SOLVEfi, that the offer of the said George B. Gibbons & Co., Inc. be and the same is hereby accepted and that said $218,000 Water Works System Bonds and $40,000 Water Distribution System Bonds bearing interest at the. rate of five and one-tenth per centum per annum be and the same hereby are awarded to the said George B. Gibbons & Co. , Inc. , at the price aforesaid. The question of the adoption of the foregoing resolution was duly put to a vote which resulted as follows: Ayes: Burton, Boyd, Leeds, Messersmith and Marvin Noes- None The resolution was declared duly adopted. Upon motion duly made and seconded the clerk was unanim- ously directed to return the deposit checks of the unsuccessful bidders upon securing a proper receipt therefor. Upon motion duly made and seconded the matter of attending to the necessary details in connection with the sale and delivery of these bonds including the signing of all necessary documents was referred to the Supervisor and Counsel. The Clerk reported that he had been served with a summons and complaint in the matter of Ohlrogge versus The Pine Brook Drain- age Commission, Town of Mamaroneck., et al. The matter was ordered referred to Counsel. Justice Boyd reported that he was in need of a copy of the latest edition of Benderts Justices Manual and he was upon roll call unanimously authorized to obtain same. The Supervisor requested the authorization of the Board to pay to the Westchester Joint eater Works, No. I the sum of $217,038.029 said sum to be obtained from the bonds sold at todayts meeting in accordance with the resolution of the Westchester Joint Water Works, No. I passed at its meeting on September 14th. Upon motion by the Clerk, seconded by Justice Messersmith, it was upon roll call unanimously RESO3LVE"D, that the Supervisor be and he hereby is authorized, directed and empowered to pay over to the Westchester Joint Water Works, No. 1 the sum of $217,638.02 from the proceeds of the bond sale this day authorized, in accordance with the resolution of the Westchester Joint Water Works , No. 1, dated September 14th, 1931. Upon motion duly made and seconded the Board unanimously resolved to recess at 5 :55 F. Dd. to meet again on November24th at 2P. M. Town Clerk