HomeMy WebLinkAbout1966.06.09_City Council Minutes+:~ d~
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June 9, 1966
The Board of Truste~~~ of the Town of Oiaasso met in special session at the Town Hall
on Thursday, June 9 to discuss water trust authority with A9r. Smith.
Present: John troth
Ernie Foster
Joe Ross
V. D. Duncan
Inez Odom
Josephine DoUmey
Absent : Dean Large
President of the Board
Trustee
Trustee
Trustee
Town Clerk
Deputy Clerk
Mx. Foster moved and I~~r. Duncan seconded we dispense with the minutes of the last meeting
and continue with the discussion with A?r. Smith.
r7r. troth asked lair. Smith about the cost of preparing and ~~lling bonds. Mr. Smith
answered that it would depend entirel.,y upon the amount of the bond issue.
I~7r. troth asked if I~~r. Fagan was the attorney for 1`~. Smiths company. N`~r. Smith said
he eras not but he could render a legal opinion ~rhich would sell the bonds better than
any other opinion in the State of Oklahoma.
After some discussion, it was estimated that approximately $203.232.18 would be required
for the lines north to the Tucker-Steed Addition, Gracela.nd Acre, Jonesville and Komma
additions. I~ir. Smith estimated that the cost of servicing a bond issue of that size
would be 3g',.
T~ir. Foster moved that we continue with Audsley Invest^;cnt Company to promote the
trust. Nir. Duncan seconded the motion. ..'ayes: troth, Foster, Ross, Dunca.
I~Tx. Ross moved and 1`ir. Duncan seconded that we authorize IfIr. Sairyer to do the work on
the organization of the trust and that he secure whatever aid he needs such as a trust
attorney. Ayes: troth, Foster, Ross, Duncan.
IvTr. Smith stated that Audsley Company was recently absorbed by the H. E. ti<<raeckerle &
Company.
I~~. troth said the Tulsa Utility Board had given the final approval on our suggested
rural water lines.
T~Ir. Foster moved we adjourn at 9:10. Nom. Ross seconded the motion. Ayes: troth, Foster,
Ross, Duncan.
Inez H. Odom, Tot~m Clerk
John R. troth.,--President of the Board