April 12, 1994 - Special City Council Session

City Council, April 12, 1994

A special session of the City Council is held Tuesday, April 12, 1994, at five thirty-four o’clock p.m. All the members are present except Councilors Doyle, Moran, and Rabbitt; President Barry presides.

591      Communication from President John J. Barry, III, calling a Special Session of the City Council on Tuesday, April 12, 1994, at 5:30 PM is READ AND ORDERED FILED.

335      Communication from Jack Rahill, Finance Director, to Members of the Pawtucket City Council, ($51,980,000 General Obligation Bonds/Tax Synchronization Bonds) is READ AND ORDERED FILED.

THE CHAIR RECOGNIZES COUNCILOR VIEIRA.

With majority consent of the Council, Councilor Vieira submits the following Bids:

335      Bids received for the sale of $40,000,000 General Obligation Tax Synchronization Bonds and $11,980,000 General Obligation Project Bonds, which were opened at the Fleet National Bank on April 12, 1994, as follows:

With majority consent of the Council, Councilor Vieira submits the following communication:

335      Communication from Ralph Mangiante, Deputy Finance Director, to the Honorable City Council, submitting recommendation from Fleet National Bank to award the sale of $40,000,000 General Obligation Tax Synchronization Bonds and $11,980,000 General Obligation Project Bonds, to the lowest bidder as follows:

Upon Motion made by Councilor Vieira, seconded by Councilor Kinder, the following Bids and communication are READ AND ORDERED FILED:

Bids received for the sale of $40,000,000 General Obligation Tax Synchronization Bonds and $11,980,000 General Obligation Project Bonds, which were opened at the Fleet National Bank on April 12, 1994, as follows:

Communication from Ralph Mangiante, Deputy Finance Director, to the Honorable City Council, submitting recommendation from Fleet National Bank to award the sale of $40,000,000 General Obligation Tax Synchronization Bonds and $11,980,000 General Obligation Project Bonds, to the lowest bidder as follows:

The following resolution is read and passed on a roll call vote, as follows:

Ayes - President Barry, Councilors Bray, Demopulos, Hodge, Kinder and Vieira.

Noes - 0

335      RESOLUTION ACCEPTING THE BID FOR $51,980,000 GENERAL OBLIGATION BONDS.

THE CHAIR RECOGNIZES COUNCILOR VIEIRA.

With majority consent of the Council, the following Motion made by Councilor Vieira, seconded by Councilor Kinder, is passed on a unanimous voice vote:

THE PREMIUM OF $5,905 SHALL BE PUT INTO THE RESERVE ACCOUNT.

Upon Motion made by Councilor Vieira, seconded by Councilor Kinder, the meeting is adjourned at five fifty-four o’clock p.m.