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<br />REGULAR MEETING MAY 23, 1956
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<br />49
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<br />On this, the 23rd day of May, 1956, at 2:00 p.m., the city council
<br />of the City of San Marcos, Texas, met in a regular meeting at the
<br />City Hall in San Marcos, Texas, with the following members present and
<br />participating:
<br />
<br />Frank E. Dietterich, Mayor
<br />W. M. Davis, Alderman
<br />Herman Korff, Alderman
<br />C. M. Allen, Alderman
<br />S. R. Beecroft, Alderman
<br />
<br />others present were:
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<br />W. G. Barbee Ann Ziemke C. L. Haynes Francis Mercer
<br />Walter Buckner Claudio Flores Bill Gulledge Ceasar Damon
<br />Terry Jacks cecil Hahn George Small Bond Buyers
<br />
<br />A quorum being present, Mayor Diettorich called the meeting to
<br />order and the following transpired:
<br />
<br />Bids for $350,000.00 Highway Right-of-1',ay Bonds were received
<br />by the council. They were opened by George Small of Russ & Company,
<br />San Antonio, Texas. They were as follows:
<br />
<br />First Southwest Company
<br />Rotan, Mosle and Cooper
<br />
<br />cash premium - ~~ 12.60
<br />June 1, 1957 thnu June 1, 1967 - 3~
<br />June 1, 1968 thru June 1, 1986 - 31Vo
<br />Gr ass Interest Cas t :~ 210,9[;.5.00
<br />Less Premium 12.60
<br />Net Interest Cost $ 21U,~32.40
<br />Effective Interest Rate - 3.27179
<br />
<br />Eddleman-pollok Company
<br />Austin Hart & Parvin
<br />Moroney, Beissner & Company
<br />
<br />Cash Premium - :ii 77.77
<br />June 1, 1957 ~,ru June 1, 1966 - 3%
<br />J1jne 1, 1967 thru June 1, 1971~ - 3%%
<br />June 1, 1975 thru June 1, 19G6 - 3 3/~~
<br />Gross Interest cost ~~ 214,547.50
<br />Less Premium 77.77
<br />Net Interest Cost ~4,4b~.(J
<br />Effective Interest Rate - 3.3266
<br />
<br />Dittmar & company
<br />Columbian Securities Corp.
<br />
<br />cash premium $ 100.14
<br />June 1, 1957 thru June 1, 1972 - 3t%
<br />June 1, 1973 thru June 1, 1986 - 3 3/8%
<br />Gross Interest Cost $ 216,066.25
<br />Less Premium 100.14
<br />Net Interest Cost $ 2~~.~bb.ll
<br />Effective Interest Rate - 3.34986
<br />
<br />Equitable securities Corporation
<br />J. Marvin Moreland & Co.
<br />Muir Investment Corp.
<br />
<br />cash Premium $ 57.00
<br />June 1, 1957 thru June 1, 1965 - 3t1o
<br />June 1, 1966 thru June 1, 1976 - 3l%
<br />June 1, 1977 thru June 1, 1986 - 3~3/~10
<br />Gross Interest Cost ~ 216,022.50
<br />Less Premium 57.00
<br />Net Interest Cost ~~ 21~,96::>.;,0
<br />Effective Interest Rate - 3.34986
<br />
<br />Dewar, Robertson & Pancoast
<br />Dallas Union Securities Co.
<br />MCClung & Knickerbocker
<br />
<br />cash Premium ~~ 132.65
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