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HomeMy WebLinkAboutSpec Mtg. Minutes 7/10/195811.1:1 ` Minutes of a Special Meeting of the Board of Trustees held July 10, 1958 at the Village office at 5 :04 P.M. i PRESENT: Mayor F. a. Marcham ® Trustees M. E. Campbell L. M. Catherwood J. F. O'Connor J. R. Simpson H. H. Williams Engineer Carl Crandall Treasurer F. M. Upchurch Attorney Charles.H. Newman NOTE:. Sealed proposals on $7770000 Public Improvement (Serial) Bonds, 19589 were received, opened and publicly read by Trustee James R. Simpson and Treasurer F. M. Upchurch at 2:00 P.M., July 10, 1958 at the Village Office. There were six bidders on the bonds, and after due consideration award was made by Treasurer Upchurch to the Ira Haupt & Company and Associates, interest rate being 34% and premium $780,263.40. 1) VOTED to accept the minutes of special meeting held June 139 1958 as dis- tributed in mimeographed form to the Trustees. 2) VOTED to pay bills read by Treasurer Upchurch and listed on Schedules 2 -A, 2 -G, 2 -H -Wi and 2 -S. 3) Treasurer Upchurch reported on the bid opening as follows: "That pursuant to a resolution adopted by the Board of Trustees of the �. Village of Cayuga Heights, Tompkins County, New York, on June 139 19589 I duly advertised for sale $7779000 Public Improvement (Serial) Bonds, 1958, to be dated July 15, 1958, in The Daily Bond Buyer, a financial newspaper published in the City of New York, on June 309 1958, sealed proposals to be received and considered by me at the Village Hall, 194 Pleasant Grove Road ( P.O.Address: Ithaca, New York), in said Village, at 2:00 o'clock P.M., Eastern Daylight Saving Time, on the 10th day of July, 1958, and that pursuant to such notice of sale the following bids were received for said bonds, to -grit: Name of Bidder Rate of Interest Amount Bid 1) Ira Haupt & Co. and.Associates 3.24% $7809263.40 2) Kidder Peabody & Co. ) R. W. Pressprick & Co.) 3.40% 7839526:50 Coffin & Burr, Ind. 3) Bacon Stevenson & Co.) J.C. Bradford & Co. ) 3.40% 778.555.00 Goodbody & Company ) Charles King & Co. } 4) Tompkins County Trust Company 3.40% 7789165.27 5) First National Bank & Trust Co. of Ithaca) First Boston Corporation ) 3.50 785,373.73 6) Halsey Stuary & Co. and Associates .3.50 7829019.42 Treasurer received deposit from Ira Haupt & Co. & Associates of $159540 which was deposited in the Tompkins County.Trust Company - Capital Fund - Sewer Account. " VOTED to accept the above report of the Treasurer. 112 Moved by Trustee O'Connor, seconded by Trustee J. R. Simpson, and VOTED to authorize Mayor Marcham and Treasurer Upchurch to execute, sign and affix the seal of the Village to the $7779000 Public Improvement (Serial) Bonds, 1958, and to deliver said bonds and collect $764,723.40 •($780,263.40 - $15,540.00) from Ira Haupt & Company and Associates, and to pay the -travel expenses of the Treasurer to New York City to perform such duties. VOTED to authorize the Treasurer to pay off the outstandii& bond anticipation notes p us accrued interest now held by the First National Bank & Trust Company of Ithaca and the Tompkins County Trust Company. VOTED to request Mayor Marcham to write the two banks, First National Bank And Trust Company, and Tompkins County Trust Company, exp dssing the thanks of the Board for their cooperation in the financing of the Village Sewer System. 4) Engineer Crandall displayed a map of the real estate development proposed by Mr. Harlow C. Fleck. VOTED that permission be granted to Mr. H. C. Fleck-to connect with and extend the -ViMge water main from the corner of Cayuga Heights Road and N. Sunset Drive. north - erly along the westerly side of Cayuga Heights Road in the 700 block thereof and then westerly along a proposed road, or portion thereof, subject to the following conditions: 1. Materials and work to be subject to approval by the City of Ithaca and in accordance with city regulations and specifications. 2. All necessary easements, right of way, and the complete cost of con- struction to be furnished by Mr. Fleck. 3. After completion of construction, the water main is to be public water main for service to present and future lot owners in the vicinity, with responsibility for maintenance and operation to be an obligation of the Village Government. 5) Mayor Marcham read the letter of July 89 1958 from John Burton, Vice Presi- dent of Cornell University asking if the Village would accept sewage for treatment from the Airport- Research Center area. VOTED to repeat the Village offier to accept sewage from the Airport- Research Center area subject to prior agreements on proper compensation to the Village. Engineer Crandall said the sewer mains in the North Triphammer Road area of the Village were adequate to receive the sewage and that the planned expansion, of the treatment plant would be sufficient to handle the sewage from all lands within the Village boundaries when fully developed plus the sewage from Renwick Heights area plus the Airport Area. 6) The letter of June 24, 1958 from the Greater Ithaca Regional Planning Board was read to the Board of Trustees concerning the-relocation of Route 13. VOTED to approve Septic Tank Permits for 4 F. Randolph and Miss Hilda Smith. VOTED to instruct the Clerk to take out a five year fire insurance policy on the Sewer Treatment Plant and.to inquire as to the coverage of fires caused by the truck housed in the building and the costs of carrying extended coverage. VOTED to pay the City of Ithaca the cost, estimated at $100 for a'Blow: off" on the end of water pipe on Devon Road to get rid of rusty water at end of line.