HomeMy WebLinkAboutCOUNCIL MINUTES 1953-11-04 ADJOURNED Page 1252
MINUTES OF THE ADJOURNED ONE HUNDRED FIFTh REGULAR
MEETING OF THE COUNCIL OF THE CITY OF LIVONIA
On November 4, 1953, above meting was held at 33001 Five Mile Road,
Livonia, Michigan, and was called to order at approximately 5:30 P. M., by the
President of the Council, Harry S Wolfe Roll was called with the following
result: Present-- Harry S. Wolfe, Wilson W. Edgar, Nettie Carey, John W.
Whitehead and William J Taylor Absent-- Raymond Grimm and Harold Bower
Mayor Jesse Ziegler, Mr Louis Schimmel, Herald Hamill, city engineer,
and William Brashear, city attorney, likewise attended this meeting
By Councilman Edgar, supported by Councilman Taylor, it was resolved that
#756 WHEREAS, a special assessment roll for the construction of sewers
in "Sewer Special Assessment District No. 4" of the City of Livonia has
been prepared by the City Assessor, and duly confirmed by the City Council,
all in accordance with the requirements of the City Charter and Ordinance
No 31 of the City, as amended;
IL AND WHEREAS, said special assessments are payable in twenty (20)
annual installments, the first installment to be due December 1, 1954,
and the subsequent installments to be due on the first day of December
in each year thereafter,
AND WHEREAS, said special assessments so levied total One Million
Six Hundred Eighty—Three Thcusand Three Hundred Forty—One ($1,683,341 00)
Dollars;
AND WHEREAS, in order to finance the cost of construction of the
sewers, it is necessary to borrow the money therefore and issue special
assessment bonds of the City in anticipation of the collection of the
installments due on said special assessment roll, all in accordance with
and as authorized by the provisions of the City Charter and Ordinance
No. 31, as amended,
NOW, THEREFORE, BB IT RESOLVED THAT:
1. The estimated period of usefulness of said sewer improvements
is not less than thirty (30) years
2 Special assessment bonds of the City of Livonia be issued in
the aggregate principal amount of One Million Six Hundred Sixty Thousand
lial ti ($1,660,000.00) Dollars in anticipation of the collection of the twenty
(20) installments of Sewer Special Assessment Roll No 4, said bonds to
be designated "Special Assessment Sewer Bonds," and cc nsisting of 1660
bonds of the denomination of $1,000 00 each, dated as of December 1, 1953,
Page 1253
numbered in direct order of maturity from 1 to 1660, inclusive, and
maturing serially as follows
$60,000 May 1, 1955;
$85,000 May 1, 1956,
$90,000 May 1st of each year from 1957 to 1960, inclusive;
$85,000 May 1st of •-ach ytmar from 1961 to 1969, inclusive,
$80,000 May 1st of each year from 1970 to 1972, inclusive,
$75,000 May 1st of each of the years 1973 and 1974
Said bonds shall bear interest at a rate or rates not exceeding four
(4%) per cent per annum, payable on May 1, 1954, and semi-annually
thereafter on November 1st and May 1st of each year, both principal and
interest to be payable at a bank or trust company to be designated by the
original purchaser of the bonds Interest payable on May 1, 1954, and
November 1, 1954, shall be paid out of the proceeds of the sale of the
bonds, and an amount sufficient therefor shall be deposited in to the
Sewer :special Assessment District No 4 Bond Debt Retirement Fund out of
the proceeds of the sate of the bonds
The said Sewer Special Assessment Bonds from time to time outstand-
ing will be subject to redemption by the City prior to maturity, in
direct numerical order, on any one or more interest payment dates on
or after May 1, 1955, at the par value thereof and accrued interest plus
a premium of 1/2 of 1% for each year or fracion thereof remaining between
the date set for redemption and the maturity date or dates on the bonds
to be redeemed, provided, however, that no premium on any one bond shall
exceed Twenty ($20 CO) Dollars
Thirty days! notice of the call cf any bonds for redemption shall be given
by publication in a paper circulated in the State of Michigan which carries,
as part of its regular service, notices of sale of municipal bonds and,
in case of registered bonds, thirty days! notice shall be given by mail
to the registered address Bonds so called fcr redemption shall not bear
interest after the date fixed for r'demption, provided funds are on hand
with the paying agent to redeem said bonds
3 In addition to the special assessments as aforesaid, the full
faith, credit and resources of the City of Livonia shall be pledged for
the prompt payment of the principal and interest on said bonds as the
same become due
4 Said bonds shall be signed in the name of the City by the Mayor,
countersigned by the City Clerk and the City Treasurer, shall bear the
City Seal, and the interest coupons annexed thereto shall bear the
facsimile signature of the Mayor and the City Treasurer; and said bonds
when executed shall be delivered to the City Treasurer and be delivered
by him to the purchaser thereof upon payment of the purchase price thereof
in accordance with the bid therefor, when accepted
5 There shall be established and maintained a fund to be
designated "Sewer Special Assessment District No 4 Bond Debt Retire-
ment Fund" into which such fund there shall be placed the premium, if any,
and accrued interest received at the time of delivery of the Special
Page 1254
Assessment Sewer Bonds herein authorized In addition, there shall be
paid into said fund all collections of principal and interest on 3ewer
Special Assessment District No 4 Roll in anticipation of the collection
of which the Sewer Special Assessment Bonds authorized by the provisions
of this resolution have been issued; Provided, However, that out of the
collections resulting from the levy on December 1, 1954, or advance payments,
there may b used for construction purposes a sum not to exceed Sixty
Thousand ($60,000 00) Dollars If at any tine said fund is insufficient
to pay principal and interest on said bonds as the same become due, the
City shall advance from its general funds a sufficient amount to pay
said principal and interest
6 The form of said bonds and coupons shall be substantially as
follows.
UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTY OF WAYNE
CITY OF LIVONIA
SPECIAL ASSESSMENT SEWER BOND
No $1,000.00
KNOW ALL MEN BY THESE PRESENTS that the CITY OF LIVONIA, Wayne County,
Michigan, acknowledges itself to owe, and for value received, hereby
promises to pay to the bearer the sum of
ONE THOUSAND DOLLARS,
lawful money of the United States of America, on the first day of May, A D.
19 , with interest thereon from the date hereof until paid at the rate
of per cent per annum, payable on May 1, 1954, and semi-
annually thereafter on the first day of November and May of each year, on
presentation and surrender of the annexed interest coupons as they
severally become due. Both principal and interest of this bond are hereby
made payable at ,
and for the prompt payment of this bond, both principal and interest, the
full faith, credit and resources of the City of Livonia are he-eby
irrevocably pledged.
This bond is one of a series of 1660 bonds of even date and like
tenor except as to , date of maturity, aggregating
the sum of $1,660,000 00, is-ued in anticipation of the collection of
special assessments for constructing sewers in Sewer Special Assessment
District No 4, in accordance with the provisions of Section $,Chapter VII,
of the City Charter, and Ordinance No 31, as amended.
The said Sewer Special Assessment Bonds from time to tine outstanding
will be subject to redemption by the City prior to maturity, in direct
numerical order, on any one or more interest payment dates on or after
Page 1255
May 1, 1955, at the par value thereof and accrued interest plus a
111 premium of 1/2 of 1% for each year or fraction thereof remaining be—
tween the date set for redemption and the maturity date or dates on
the bonds to be redeemed, provided, however, that no premium on any
one bond shall exceed Twenty ($20.00) Dollars.
Thirty days, notice of the call of any bonds for redemption shall be
given by publication in a nape circulated in the State of Michigan which
carries, as part of its regular service, notices of sale of municipal bonds
and, in case of registered bonds, thirty days' notice shall be given by
mail to the registered address. Bonds so called for redemption shall not
bear interest after the datF fixed for redemption, provided funds are on
hand with the paying agent to redeem said bonds
This bond is payable out of special assessments levied in Sewer
Special Assessment District No 4, or in case of the insufficiency of
the special assessment funds, out of the general funds of said City of
Livonia, and it is hereby certified and recited that all acts, conditions
and things required by law precedent to and in the issuance of this bond,
exist and have been done and performed in regular and due time and form
as required by law, and ,.hat the total indebtedness of said City,
including this bond, does not exceed any constitutional, charter or
statutory limitation.
IN WITNESS WHMEOF, the City Council of the City of Livonia, County
111 of Wayne, State of Michigan, has caused this bond to be signed in the
name of said City by its Mayor and countersigned by its City Clerk and
City Treasurer and the corporate s al of the City to b affixed hereto,
and the coupons hereto attached to be signed by the facsimile signatures
of said payor and City mrea^carer, as cf this first day of December, 1953
CITY OF LIVONIA
Byr
Mayor
(Seal)
Countersigned:
City Clerk
City Treasurer
�j
Page 1256
(Form of Coupon)
No
THE CITY OF LIVONIA, Wayne County, Michigan, will pay to the bearer
hereof the sum of Dollars, lawful money of
the United States of America on the first day of , A. D. 19 ,
at the office of the City Clerk, Livonia, Michigan, b Ding the semi-annual
interest due that day on its Special Assessment Sewer Bond, dated
December 1, 1953, No
Mayor
City Treasurer
7 That the City Clerk be and she is hereby instructed to make
application to the Municipal Finance Commission for approval of the
issuance and sale or such bonds and of the form of notice of sale in
accordance with the provisions of Act 202, Public Acts of Michigan, 1943,
as amended
8 That said notice of sale, after approval as aforesaid, shall be
published at least seven (7) days prior to the date fixed for sale in the
Michigan Investor, of Detroit, Michigan, and The Livonian, a newspaper
published in said City. Said notice shall be in substantially the follow-
ing form, subject to any changes incorporated therein by the Municipal
Finance Commission
NOTICE OF SALE
$ 1,660,000.00
CITY CF LIVCNIA
COUNTY OF WAYNE, MICHIGAN
SPECIAL ASSESSMENT SEWER BONDS
Sealed Bids for the purchase of Special Assessment Sewer Bonds of
the par value of $1,660,000.00 will be received by the undersigned at
her office in the Municipal Building, 3300 . Five Mile Road, City of Livonia,
Michigan, until 8.30 o'clock p m , Eastern Standard Time, on
, the day of , 1953, at which
time and place said bids will be publicly opened and read
Said Special Assessment Sewer Bonds will. be coupon bonds consisting
of 1660 bonds of the denomination of $1,000 00 each, numbered in direct
order of their maturities from 1 to 1660, inclusive, will be dated
Page 1257
December 1, 1953, and will mature $60,000 May 1, 1955, $85,000 May 1,
1956; $$9D,000 May 1st of each year from 1957 to 1960, inclusive; $85,000
ii;
May 1st of each year from 1961 to 1969, inclusive; $80,000 May 1st of
each year from 1970 to 1972, inclusive- and . 75,000 May 1st of each of
the years 1973 and 1974
Said bonds will bear interest from their date at a rate or rates not
exceedong fpir (4%) per cent per annum, expressed in multiples of 1/4
of 1% Said interest will be payable on May 1, 1954, and semi-annually
thereaft:-r on November 1st and May 1st of each year The interest rate
for each coupon period on any one bond shall be at one rate only Both
principal and interest will be payable at a bank or trust company to be
designated by the purchaser of the bonds. Accrued interest to the date
of delivery of such bonds must be paid by the purchaser at the time of
delivery
The said Sewer Special Assessment Bohds from time to time outstand-
ing will be subject to redemption by the City prior to maturity, in
direct numerical order, on any one or more interest payment dates on or
after May 1, 1955, at the par value thereof and accrued interest plus a
premium of 1/2 of 1% for each year or fraction thereof remaining between
the date set for redemption and the maturity date or dates on the bonds
to be redeemed, provided, however, that no premium on any one bond shall
exceed Twenty ($20 00) Dollars
Thirty days ' notice of the call of any bonds for redemption shall be given
by publication in a paper circulated in the state of Michigan which carries,
as part of its regular service, notices of sale of municipal bonds and, in
case of registered bonds, thirty days ' notice shall be given by mail to
the registered address Bonds so called for recemption shall not bear
interest after the date fixed for redemption, provided funds are on hand
with the paying agent to redeem said bonds
For the purpose of awarding the bonds the interest cost of each bid
will be computed by determining, at the rate or rats specified therein,
the total dollar value of all interest on the bonds from (Here insert the
day of the month next fo l.Lowing the date of receiving bids or the date of
the bonds, whichever is later), to their maturity, and deducting therefrom
any premium and adding thereto any discount. The bonds will be awarded to
the bidder whose bid on the above computation produces the lowest interest
cost to the City No proposal for the purchase of less than all of the
bonds herein offered or at a price less than 98% of their par value will
be considered
Said Special Assessment Sewer Bonds are issued in anticipation of the
collection of special assessments for constructing sewers in Sewer Special
Assessment District No 4, in accordance with the provisions of Section 8,
Chapter VII, of the City Charter, and Ordinance No. 31, as amended In
addition tc said special assessments, the full faith and credit of the
City if pledged for their payment
A certified or cashEerls check in the amount of $30,000.00 drawn
upon an incorporated band. cr trust company, payable to the order of the
Treasurer of ,: e City of Livonia must accompany each bid as a guaranty
1
Page 1258
of good faith on the part of the bidder, to be forfeited as liquidated
damages if such bid is accepted and the bidder fails to take up and pay
for th.- bonds. No interest will b- allowed on the good faith checks, and
checks of unsuccessful bidders .rill be promptly returned to each bidder's
representative or by registered mail.
Bids shall be conditioned upon the unqualified opinion of Miller,
Canfield, Paddock and Stone, attorneys of Detroit, Michigan, approving
the legality of the bonds, which opinion will be furnished without expense
to the purchaser of the bonds prior to the delivery thereof The City shall
furnish bonds ready for execution at its expense. Bonds will be delivered
at Detroit, Michigan, or at such other place as may be agreed upon with
the purchaser of the bonds
The right is reserved to reject any and all bids.
Envelopes containing the bids should be plainly marked "Proposal
for Bonds "
City Clerk
Dated: , 1953
9. All resolutions in conflict with the provisions of this
resolution are to the extend of such conflict hereby rescinded
A roll call vote was taken on the foregoing resolution with the following result:
AYES. Taylor, Edgar, Carey, Whitehead and Wolfe
NAYS- None
By Councilman Carey, supported by Councilman Wit ehead, it was resolved that
#757 WHEREAS, a special assessment roll for the construction of sewers
in "Sewer Special Assessment District No 4" of the City of Livonia has
been prepared by the City Assessor, and duly confirmed by the City
Council all in accordance with the requirements of the City Charter and
Ordinance No 31 of the City, as amended,
AND WHEREAS, said special assessments so levied total One Million
Six Hundred Eighty-Three Thousand Three Hundred Forty-One ($1,683,341.00)
Dollars,
AND WHEREAS, the City portion of the estimated cost of said sewers
has been duly det^rmined to be Sir Hufldred Thirty-Six Thousand Six Hundred
Nineteen and 50/100 ($636,619 50) Dollars, representing thirty (30%)
per cent of the estimated cost of the trunks and arms to be constructed
in said District;
Page 1259
AND WHEREAS, as a result of construction bids received, it appears
that it will be necessary to borrow only a total of Two Million Two
Hundred Eighty-Five Thousand 02,285,000 00) Dollars in order to provide
sufficient funds to construct said sewers, the pro-rara share of said
borrowing to be allocated to the City as the City's portion of the cost of
said sewers as aforesaid, to be Six Hundred Twenty-Fite Thousand
($625,000 00) Dollars
NOW, THEREFORE, BE IT RESOLVED THAT
1 The estimated period of usefulness of said sewer improvements
is not less than thirty (30) years
2 General obligation bonds of the City of Livonia be issued in
the aggregate principal amount of Six Hundred Twenty-Five Thousand
($625,000.00) Dollars, -ledging the $'1LIJ.1 faith, credit and resources
of the City for their payment, for the purpose of Haying the City portion
of the cost of said sewers in Sewer Special Assessment District No 4,
said bonds to be designated "GeneraJ_ Obligation Sewer Bonds (City Portion),"
and consisting of 625 bonds of the denomination of $1,000 00 each, dated as
of December 1, 1953, numbered in direct order of maturity from 1 to 625,
inclusive, and maturing serially as follows
$15,000 May 1, 1955;
$25,000 May 1st of ^ach year from 1956 to 1962, inclusive;
$30,000 May 1st of each year from 1963 to 1966, inclusive;
$35,000 May 1st of each year from 1967 to 1969, inclusive,
$40,000 May 1st of :-ach year from 1970 to 1972, inclusive;
$45,000 May 1st of °ach of the years 1973 and 1974
3 Said bonds shall bear interest at a rate or rates not exceed-
ing four (4%) per cent per annum, payable on May 1, 1954, and semi-
annually thereafter on November 1st and i:ay 1st of each year, both
principal and inter::st to be payable at a bank or trust company to be
designated by the original purchaser of the bonds.
Bonds of this issue numbered 456 to 625, inclusive, maturing
in the years 1971 to 1974, inclusive, shall be subject to redemption prior
to maturity, at the option of the City, in inverse numerical order, on
any interest payment date on or after May 1, 1958, at par and accrued
interest to the date fixed for redemption plus a premium as follows
$20.00 om each bond called for redemption on or after May 1, 1958, but
on or prior to May 1, 1962;
$10 00 on each bond called for redemption aft-'r May 1, 1962, but on or
prior to May 1, 1967
No premium shall be paid on bonds called for redemption after May 1, 1967.
Thirty days' notice of the call of any bonds for redemption shall be given
by publication in a paper circulated in the State of Michigan which carries,
as part of its regular service, notices of sale of municipal bonds, and
in case of registered bonds, thirty days' notice shall be given by mail to
the registered address Bonds so called for redemption shall not bear
Page 1260
interest after the date fixed for redemption, provided funds are on hand
with the paying agent to redeem said bonds
4 Said bonds shall be signed by the Mayor, countersigned by
the City Clerk and City Treasurer, and shall bear the seal of the City
and have coupons a tached bearing the facsimile signatures of the Mayor
and City Treasurer
5 The form of said bonds and coupons shall be substantially
as follows.
UNITED STATES OF AMERICA
1 STATE OF MICHIGAN
COUNTY OF WA' ''E
CITY OF LIVONIA
GENERAL OBLIGATION SEWER BOND (CITY PORTION)
No $1,000,00
KNOW ALL PSN BY THESE PRESENTS that the CITY OF LIVONIA, Wayne
County, Michigan, acknowledges itself to owe, and for value received,
hereby promises to pay to the bearer the sum of
= ONE THOUSAND DOLLARS,
lawful money of the Jnited Stats of America, on the first day of May, A D
19 , with interest thereon from the date hereof until paid at the rate
of per cent per annum, payable on May 1, 1954, and semi-
annually thereafter on the first c'ay of November and May of each year,
on presentation and surrender of the at.nexed interest coupons as they
severally become due. Both principal and interest of this bond are hereby
made payable at
and for the prompt payment of this bond, both principal and interest, the full
faith, credit and resources of the City of Livonia are hereby irrevocably
pledged
This bona is one of a series of 625 bonds of even date and like
tenor except as to , date of maturity, aggregating the
sum of 3625,000.00, issued for the purpose of paying tr e City portion of
the cost of sewers in Special Assessment District No 4, in accordance
with the provisions of Sec:.ion 8, Chapter VII, of the City Charter, and
Ordinance No. 31, as amended
Bonds numbered 456 to 625, inclusive, maturing in the years 1971
to 1974, inclusive, shall be subject to r-demption prior to maturity
at the option of the City, in inverse numerical order, or any interest
payment date on or aft r May 1, 1958, at par and accrued interest to the
date fixed for xedemptior, plus a premium as follows
320 00 on each bond called for redemption on or after Nay 1, 1958, but
on or prior to May 1, 1962;
Page 1261
w10.00 on each bond called for redemption after May 1, 1962, but on or
III prior to May 1, 1967
No premium shall be paid on bonds called for redemption after May 1, 1967
Thirty days' notice of the call of any bonds 'or redemption shall be given
by publication it a paper circulated in the State of Michigan which carries,
as part of its regular service, notices of sale of municipal bonds and, in
case of registered bonds, thirty days' notice shall be given by mail to
the registered address Bonds so called for redemption shall not bear
interest aft-r the date fixed for redemption, provided funds are on hand
with the paying agent to redeem said bonds
This bond is payable cut of the debt retirement fund of the
City of Livonia, and it is hereby certified and recited that all acts,
conditions and things required by law precedent to and in the issuance of
this bond and the series of bends of whic1' this is one 'nave been done, and
that the total indebtedness of said City, including this bond, does not
exceed any constitutional, statutory or chartr limitation
IN WITNESS WHEREOF, the City Council of the City of Livonia,
County of Wayne, Sta ,e of Michigan, has caused this bond to be signed
in the name of said City by its Mayor and countersigned by its City Clerk
and Greasurer and the corporate seal of the City to be affixed hereto,
and the coupons hereto attached to be signed by the facsimile signatures
of said Mayor and City Treasurer, as of this first day of December, 1953
IIICITY OF LIVONIA
Ey
Mayor
SEAL
Countersigned-
City Treasurer
City Clerk
(Form of Coupon)
No Q
THE CITY OF .,IVONIA, County of Wayne, Michigan, will pay to
the bearer hereof the sum of dollars,
lawful money of the United States of America, on the first day of _,
A D 19 , at the office of the City Clerk, Livonia, Michigan, being the
semi—annual interest due that day on its General Obligation Sewer Bond (City
111 Portion), dated December 1, 1953, No .
Mayor
City Treasurer
Page 1262
6 That the City Clerk be and she is hereby instructed to make
application to the Municipal Finance Commission for approval of the
issuance and sale of such bonds and of the form of notice of sale in
accordance with the .,,rovisions of Act 202, public Acts of Michigan,
1943, as amended
7 That said notice of sale, aftr approval as aforesaid,
shall be published at least seven (7) days prior to the date fixed
for sale in the Michigan Investor and The Livonian Said notice shall
be in substantially the following form, subject to any changes in-
corporated therein by the Municipal Finance Commission.
NOTICE OF SALE
$625,000.00
CITY OF LIVONIA
COUNTY OF WANE, MICHIGAN
GENERAL OBLIGATION SEWER BONDS (CITY PCR TION)
Sealed Bids for the purchase of General Obligation Sewer Bonds
(City Portion) of the par value of $625,000 00, will be received by the
undersigned at her office in the Municipal Building, 33001 Five Mile Road,
City of Livonia, Michigan, until 8.30 o'clock p m , EasternStandard
Time, on the day of
1953, at which time and place said bids will be publicly opened and read
Said General Obligation Sewer Bonds (City Portion) will be coupon
bonds consisting of 625 bonds of the denomination of $1,000.00 each
numbered in direct order of their maturities from 1 to 625, inclusive,
will be dated December 1, 1953, and will mature $15,000 May 1, 1955,
$25,000 May 1st of each year from 1956 to 1962, inclusive; $30,000
May 1st of each year from 1963 to 1966, inclusive, $35,000 May 1st of
each year from 1967 to 1969, inclusive, $40,000 May 1st of each year
from 1970 +o 1972, inclusive; and $45,000 May 1st of each of the years
1973 and 1974
Said bonds will bear interest from their da.,e at a rate or rates
not exceeding four (4%) per cent per annum, expressed in multiples of
1/4 of 1% Said interest will be parable on May 1, 1954, and semi-
annually thereafter on November 1st and May 1st of each year The interest
rate for each coupon period on any one bond sha11 be at one rate only.
Both principal and interest will be payable at a bank or trust company
to be designated by the purchaser of the bonds Accrued interest to
the date of delivery of such bonds must be paid by the purchaser at the
time of delivery
Bonds numbered 456 to 625, inclusive, maturing in the years 1971
to 1974, inclusive, shall be subject to redemption prior to maturity
at the opinion of the City, in inverse nume'ical order, on any interest
payment da;,e on or after May 1, 1958, at par and accrued interest plus
Page 1263
a premium as follows.
$20 00 on each bond called for redemption on or after May 1, 1953, but on
or prior to May 1, 1962;
$10 00 on each bond called for redemption after May 1, 1962, but on or
prior to May 1, 1967
No premium shall by paid on bond- called for redemption after May 1, 1967
Thirty days ' notice of the call of any bonds for redemption shall be given
by publication in a paper circulated in the State of Michigan which carries,
as part of its regular service, not---3 " sale of municipal bonds and, in
case of registered bonds, thirty days' notice shall be given by mail to the
registered address Bonds so ca led for redemption tion shall not bear interest
after the date fixed for redemption, provided funds are on hand with the
paying agent to redeem said bonds
For the purpose of awarding the bonds the interest cost of each
bid will b e computed by determining, at the rate or rates specified
therein, the total dollar value of all interest on the bonds from (Here
insert the day of the month next followi the date of receiving bids or
the date of the bonds, whichever is later, to their maturity, and de-
ducting therefrom any premium The bonds will be awarded to the bidder
whose bid on the above computa.,ion produces the lowest interest cost to
the City No proposal for the purchase of les.e than all of the bonds or
at a price less than their :gar value will be considered
The General Obligation Sewer Bonds (City Porticn) are issued for the
purpose of paying the City portion of the cost of sewers in Special Assess-
ment District No 4, in accordance with the provisions of Section 8,
Chapter VII of the City charter and Ordinance No 31, as amended
A certified or cashier's check in the amount of $12,000.00 drawn
upon an incorporated bank or trust company, payable to the order of the
Treasurer of the City of Livonia must accompany each bid as a guaranty
of good faith on the part of the bidder, to be forfeited as liquidated
damages if such bid is accepted and the bidder fails to take up and
pay for the bonds No interest will be allowed on the good faith checks
and checks of unsuccessful bidders will be promptly returned to each
bidder's representative or by registered mail
Bids shall be conditioned upon the unqualified opinion of Miller,
Canfield, Paddock and Stone, attorneys of Detroit, Michigan, approving
the legality of the bonds, which opinitn will be furnished without
expense to the purchaser of the bonds prior to the delivery thereof
The City shall furnish bonds r'ady for execution at its expense Bonds
will be delivered at Detroit, Michigan, or at such other place as may
be agreed upon with the purchaser of the bonds
The right is reserved to reject any and all bids
Envelopes containing the bids should be plainly marked "Proposal
for Bonds "
City Clerk
Dated:
Page 1264
8 All resolutions in conflict with the provisions of this
resolution are to the extend of such conflict hereby rescinded
A roll call vot'- was taken on the foregoing resolution with the following result
AYES Taylor, Edgar, Carey, Whitehead and Wolfe
NAYS- None
Councilman Taylor made a motion that the following r' solution be adopted:
#758 WHEREAS, the paving of Amrhein Road from Eckles Road directly
east for a distance of approximately 2100 feet is a necessary
public improvement; and
WHEREAS, the public health, safety and convenience of the City
of Livonia would be served by paving Amrhein Road east from Eckles
Road; and
WHEREAS, General Motors Corporation has indicated that it would
be willing to make a donation to the City for the purpose of affecting
the said improvement,
BE IT RESOLVED THAT, the City Attorney request from General
Motors a contribution in an amount sufficient to pave Amrhein Road
111 from Mckles Road directly east for a distance of approximately 2100
feet and that the City Attorney be authorized to enter into an agreement
with General Motors Corporation under which the City would receive the
said gift of General Motors Corporation and agree to devote it to the
said paving of Amrhein Road and to no other purpose
The foregoing motion was supported by Councilman Edgar and a roll call vote was
conducted thereon with the following results:
AYES. Taylor, Edgar, Carey, Whitehead and Wolfe
NAYS None
By Councilman Carey, seconded by Councilman Taylor and unanimously adopted, it was
#759 RESOLVED, that the petition of Temple, Brown, Temple and
Williams dated October 31, 1953, for vacating of Perth Avenue be
and hereby is referred tc the City Planning Commission for holding
a public hearing and making recommendations to the Council pursuant
to the provisions of Ordinance #29, as amended
#760
On motion of Councilman Whitehead, seconded by Councilman Taylor and unanimously
adopted, this regular 105th adjourned meeting was adjourned at 6.08 P M
Attested: K iar .e W Clark, Ci+y Clerk
:i1 ry ;;olfe, Presid nt