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HomeMy WebLinkAboutMinutes - City Council - 11/23/1966BOARD OF SELECTMEN MEETING NOVEMBER 23, 1966 The South Burlington Board of Selectmen held a regular adjourned meeting at the Town Office Building, 555 Dorset Street, South Burlington, Vermont on Wednesday, November 23, 1966 at 4:30 P.M. Mr. D'Acuti, Chairman, called the meeting to order. MEMBERS PRESENT Vincent J. D'Acuti, Chairman; Frederick G. Blais, Augustus T. Stannard and Stephen M. Whittlesey. MEMBERS ABSENT Robert K. Ashley OTHERS PRESENT Henry LeClair, Town Manager; Irving L. Douglas, Director of New Sewer System; Helen D. Paquin, Town Clerk and Treasurer; William L. Moore of the Chittenden Trust Company, and Edward Myers, Free Press Reporter. BIDS FOR SALE OF SEWER BONDS Mr. D'Acuti read the bids that had been received for the $3,100,000 Sewage and Sewage Disposal System Bonds of the Town of South Burlington, Vermont, as follows: Hartford National Bank and Trust Company and Associates: Interest rate 4.30%, bid $3,103,379.00 or a price of 100.109 and accrued interest from the date of the bonds to the date of delivery. The First National Bank of Boston and White, Weld & Company: Interest rate of 4.40%, bid $3,101,670.90 or a price of 100.0539 and accrued interest from the date of the bonds to the date of delivery. Halsey, Stuart & Company, Inc. and Associates: Interest rate of 4.40%, bid $3,108,866.00 or a price of 100.286 and accrued interest from the date of the bonds to the date of delivery. BIDS FOR SALE OF SEWER BONDS - continued Smith, Barney and Company, Incorporated: Interest rate of 4½%, bid $3,119,099.10 or a price of 100.6161 and accrued interest from the date of the bonds to the date of delivery. Selectman Stannard made a motion to accept the bid of the Hartford National Bank and Trust Company and Associates who quoted the lowest interest rate at 4.30%. The motion was seconded by Selectman Whittlesey, and the Board voted unanimously to accept the bid. The Board also voted unanimously to pass the following resolution accepting the bid. R E S O L U T I O N RESOLVED by the Board of Selectmen of the Town of South Burlington as follows: That the bid of Hartford National Bank and Trust Company and Associates for the purchase of $3,100,000.00. Principal amount of sewage and sewage disposal bonds of the Town of South Burlington, rate of interest of 4.30 percent and a premium of $3,379.00, said bid being in the form and in conformity with the "Notice of Sale" dated November 16, 1966, is hereby accepted. November 23, 1966 s/ Vincent J. D'Acuti s/ Helen D. Paquin s/ Frederick G. Blais Town Clerk and Treasurer s/ Augustus T. Stannard s/ Stephen M. Whittlesey SOUTH BURLINGTON BOARD OF SELECTMEN OTHER BUSINESS Mr. D'Acuti instructed the Town Manager to refer Robert Whitcomb's complaint to the Town Attorney. Mr. D'Acuti reminded the Board that the bid opening for a new contract for the sewer system was scheduled at the Town Office Building on Tuesday, November 29, 1966 at 2 P.M. The Selectmen decided to meet at the New Sewage Plant and inspect it on Wednesday, November 30, 1966 at 12 noon. There being no other business to come before the Board the meeting asjourned at 5:30 P.M. APPROVED Published by ClerkBase ©2019 by Clerkbase. No Claim to Original Government Works.