Council Minutes 091266236
9/6/66
MINUTES OF THE ADJOURNED MEETING
OF THE CITY COUNCIL OF THE CITY OF
DES PLAINES, ILLINOIS, HELD IN THE
COUNCIL ROOM, CITY HALL, MONDAY,
SEPTEMBER 12, 1966.
CALL TO ORDER! The adjourned meeting of the City Council
of the City of Des Plaines was called to
order by Mayor Herbert H. Behrel at 8:10 P.M.
The meeting opened with a prayer read by City Clerk Rohrbach followed by
the pledge of allegiance to the flag.
ROLL CALL: Roll Call indicated the following aldermen
present:· Shillington, Figard, Czubakowski,
Wagner, Swanson, French, Martin, Bonaguidi,
Szabo, Prickett, Wrighto
Absent were Aldermen Rateike, Bolek, Leer.
Present also were City Comptroller Blietz and City Attorney Robert J.
DiLeonardi.
There being a quorum present, the meeting was in order.
Bids Closed: It was moved by Alderman Prickett and
seconded by Alderman Swanson that the bids
be closed relating to the sale of $2,000,000
Surface Water Drainage System Bonds. On Roll Call, the vote was:
AYES: -12 -Alderman Shillington, Figard,
Czubakowski, Wagner, Swm son,
French, Martin, Bonaguidi,
Szabo, Prickett, Wright.
NAYS: 0 -None
ABSENT:-3 -Aldermen Rateike, Bolek, Leer.
There being twelve affirmative votes,
Motion Carried. -
OPEN BIDS: It was moved by Alderman Prickett and
seconded by Alderman Wagner that the bids
received'be opened by the City Clerk and
given to Mr. E. Benjamin to be read and
t~bulated. On Roll Call, the vote was:
AYES: 12 -Alderman Shillington, Figard,
Czubakowski, Wagner, Swanson,
French, Martin, Bonaguidi,
· Szabo, Prickett, Wright•
NAYS: 0 -None
'ABSENT: - 3 -Aldermen Rateike, Bolek,
Leer.
There being twelve affirmative votes,
Motion Carriedo
The following bids were received; in exactly the same form as appears
henceforth:
Reference is made to your ~Notice of Sale, dated August 22, 1966, re-
lating to the sale of $2,000,000 Surface Water Drainage System Bonds, of the City of De~ Plaines, Cook County, Illinois, which is made a
part hereof. r
Page two 9/12/66
BIDS -(Continued)
For your legally issued bonds, as , more fully described in said
Notice ( of Sale, we will pay you principal amount of $225.00 and accn1ed
interest from October 1, 1966 to date of delivery of said bonds for
bonds bearing interest at the following rate or rates and due January
1 in the years indicated: .
1969 through 1973 at 4!%
1974 through 1975 at 4.40%
1976 through 1986 at 4t% . .
For informative purposes, we have made the following computations:
The net interest cost from October 1, 1966 to the maturities thereof
under this bid is as follows:
Gross dollar interest cost (as of 10-1-1966)
Less premium ,
Net dollar interest cost
Net interest cost
$ 1,077,325.00
225.00
1,077,100.00
4.49259 %
2 .'3 7
As a guarantee of good faith, we enclose cashier's check in the
amount of $40,000 payable to the City of Des Plaines, Cook County, Illinois,
to be retained by you pending full performance by us and to be forfeited
to the City as full liquidated damages upon failure by us to accept
delivery and pay for the bonds when ready for delivery. This check may
be used in partial payment for said bonds.
Respectfully submitted,
Continental Illinois National Bank
and Trust Company
/s/ K. W. Deve
Snydicate Manager -Bond Department
Accepted pursuant to authority granted by the City Council of the
City of Des Plaines, Cook .County, Illinois this day of , 1966.
The receipt of the above mentioned check is hereby acknowledged.
ATTEST:
------~~--~--~~-----City Clerk
(SEAL)
The foregoing bid is subm.itted for the benefit of the following
firms, who are members of our bidding aero unt:
Kidder, Peabody & co., Incorporated
White, Wedd & Co.
First of Michigan Corporation
Stifel, Nmcolaus & Company, Incorporated
Hutchinson, Shockey, Erley & Co.
;l ~ jt * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * .. ' . . ' . . . . . ,
Reference is made ' to ' your Notice of Sale, dated August 22, 1966, re-
lating to · the sale ' of $2~000~000 Surface Water ·nrainage System Bonds,
of the City of Des Plaines, Cook County, Illinois, which is made a
part hereof.
For your legally issued bonds, as more fuliy ·described in said Notice
of Sale, we will pay you principal amount of $2,000,604.00 and accrued
interest from October I, 1966 to date of delivery of said bonds for
bonds bearing interest at the following rate or rates and due c'.January
1 in the years indicated:
1969 through 1986 at 4-!%
For informative purposes, we have made the following computations:
The net interest cost from October I, 1966 to the maturities thereof
under this bid is as follows:
Gross dollar interest cost (as of 10-1-1966) $ 1,078,875.00
Less .premium 604.00
Net dollar interest cost 1,078,271.00
Net interest cost 4.4974 %
Page three
(Halsey, Stuart & Co., Inc. Bid Continued)
As a guarantee of good faith, ~e· enclose certified check in the
amount of $40,000 payable to the City of Des Plaines, Cook County,
Illinois to be retained by you pending full performance by us and to
be forfeited to the City as full liquidated damages upon failure by us
to accept delivery ad.ct pay for the bonds when ready for delivery. This
check may be used in partial payment for said bondso
Respectfully submitted,
HALSEY, STUART & CO., INC.
AND ASSOCIATES
/s/ Robert Simond, Jr.
Accepted pursuqrnt to authority granted by the City Council of the
Ci~y of Des Plaines, Cook County, Illinois, this day of 1966.
The receipt of the above mentioned check is hereby acknowledged.
Mayor
Attest:·
City Clerk
(Seal)
The foregoing bid is submitted for the benefit of the following
firms, who are members of our bidding account:
HALSEY,· STUAH.T & CO. Inc.
GOLDMAN, SACHS & CO.
WEFDEN & CO.
THE ILLINOIS COMPANY INCOTIPOHATED
'* * * * * * * * * * * * * * * * * * * * * * * * * *(* * * * * * * * * * *
1~eference ia made to your Notice of Sale, dated August 22, 1966,
relating to the sale of $2 ,000,000 Surface l~ter Drainage System
nonds, of the City of Des Plaines, Cook County, Illinois, which is
made a part hereof.
For your legally issued bonrls, as more fully describea in said
Notice of Sale, we will pay you principal amount of $2,001,529.00
and accrued interest from October 1, 1966 to rtate of delivery of
saidbonds for bonds bearing interest at the following rate or rates
and due January 1 in the years indicated:
1969 through 1986 at 4!%
For informative purposes, we have mace the f.ollowing computations:
The net interest cost fro~ October 1, 1966 to the maturities thereof
under this bid as follows:
f
Gross dollar interest cost (as of 10-1-1966)
Less premium ••.......•....•••..•••.•.•.•...•
~1,01s,s1r>.
1,529.
1,077,346. N ct d o 11 ar inter es t cost • . . " . . . . . . . . • . • . . . • •
:Netr interest cost ••••.•....•••.......•..••.. • • • • • • • • • • • %
As a guarantee of good fa:i_t.h, ,;re enclose (certified) (cashier's)
check in the aJY1ount of ~40,000 payable to the City of Des Plain~s,
Cook County, Illinois, to be retaineo by you pending fnll perforMancP
by us and to be forfeited to the City as full liquidateo oamages upon
failure by us to accept <lelivery and pay for the bonds when ready for
cJe 1 i very. This check may .be us Po in part ia 1 payrrnnt for said bonrJs.
HAilRJS TH UST .AfTD SAVINGS TIANJ~, CJTIC.A<TO
MEP.H ILL LYNCT[, P !~TICE, FF.NNFTI &
~i ITH, INCOHPOHATED
~J . F. HOTHSCJIILn f.· CO.
WILT-'JAM DLAIIl fv GOMPAJ\ry
THE WHI'l1E-PHILIPS C0~fPANY, INC.
Resf1ectful ly submitted,
ny: 1 Iarr is Trust and
Savings Pank
/s/ tfeorge D. Smith II
Accepted pursuant to authority granterl by the City Council of the
· City of Des Plaines, Cook County, Illinois, th:ts •... day of ...•...• 1966
0 · The receirt of the above mentionef~ check is hereby acknowledged
0
Attest.:
~--..c~·i-t~y~-c~r-e·-r-k-r~~~-
(SEAL)
Mayor
r
rage F,our
Reference is ria<le to your Notice of Sale, clateo August 22, 196G,
relating to the sale of ·~2,000,000 Surface Water ~>rainage System nonds,
of the City of Des Plaines, Cook County, Illinois, which is made a part
hereof.
For your lPgally issm~ct honds, as more fully described in said
Notice of s~le, we wtll pay you principal amonnt of $2,0001,529 and
accrued interest from October 1, 1966 to date of ctelivery of said
bonds for t>onrls beartlig interest at the fol lowing rate or rates and
due Januaty 1 in the years in~icatert:
1969 through 1986 at 4!%
For informative purposes, we have made the following computations~
The net interest cost from October 1, 1966 to the maturities thereof
under this bid as follows:
Grossdollar interest cost (as of 10-1-1966 )
Less premium •.....•...•.•...•.•.•..•••••• ~.
Net dollar interest cost ••...•..............
Net tnterest cost •••...•.••..••.•.•.•••...••
$1,078,875.
1,529.
1,077,346.
As a .guarantee of good faith, we enclose (certified) (cashier's)
check in the ru1ount of $40,000 payable to the City of Des Plaines,
Cook County, Illinois, to be retained by you pending full performance
by us and to be forfeited to the City as full liquidated damages upon
failure by us to accept delivery and pay for the bonds when ready for
delivery. This check may be used in partial payment for said bonds.
HARRIS r:r1RUST AND SAVINGS RANK,CITIGAO
MERRILL LYNCH, PIEHCE, FENNER &
Respectfully submitted,
%
SMITH' INCORPOHArrEn Dy Harris 1l.1rust and Savings Bank
L. F. ROrt.11-ISCIULD l'x CO.
WILLIAM BLAIR & COMPANY
TJTT~ WJTITE-PIIILI.IP S CO. INC.
By /s/ George D. Smith II
Assistant Vice Pre8ident
Accepted pursuant to authority granted hy the City Council of the
City of Des Plnines, Cook County, Illinois, this ••.• rtay of •••••.•• 1960.
The receipt of the above mentioned check is hereby acknowle~ged •
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest: ...............................
City Clerk
(Seal)
239
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** *
Reference is made to your Notice of Sale, dated August 22, 1966,
relating to the sale of -$2,000,000 Surface Water Drainage System Bonds,
of the City of Des Plaines, Cook County, Illinois, which is made a part
thereof.
For your leg~Ily iSstied b6rtd~; ·~s "Mor~ fU111 'dAscribed in said
Notice of Sflle, we will pay you ·priricipal amount of $2,0001,378.00
and accrued 'interest from October ·1, 1966 to ·a~te of delivery of said
bond~ for bonds bearing interest at the following rate or rates and
due January 1 in the years indicaterl:
1969through 1986 at 4t%
For informative purposes, we have made the following computations:
The"net interest cost from October 1, 1966 to the maturities thereof
under this bid is as follows:
Gross dollar interest cost (as of 10-1-1906) $1,078,875.
Less premium................................ 1,378.
Net dollar interest cost •.......•...•....•.. 1,077,497.
Net jnterest cost........................... 4.494252%
As a guarantee of good faith, we enclose (certified) (cashier's) check
in the amount of $40,000 payable to the City of Des Plaines, Cook County,
Illinois, to be retained by you pending full performance by us and to be
forfeited to the ·City as full liquidated aamages upon failure by us to
accept delivery and pay for the bonds when ready for delivery. This
check may be used in partial paymen"t for said llOncts. (OVER)
240
Page Five
Th~ First National nank of Chicago BID -cont'd.
The First National Bank of Chicago
The Northern Trust Company
Account Managers
and Associates (See Below)
Respectfully submitted,
The First National Bank of Chicago
For the Managers
By? s/s P.A.Ilerquist
Vice-President
Accepted pursuant to authority granted by the City Council of the
City of Des Plaines, Cook County, Illinois, this •••• day of •••••••• 1966.
T.he receipt of the above mentioned check is hereby acknowledged.
Mayor
Attest:
City clerk ·····
( SE.tU.i)
The foregoing bid is submitted for the benefit of the following firms,
who are members of our bidding account:
The First National Bank of Chicago
The Northern Trust Company
Account Managers
A.G:Becker & Co., Incorporated
Bacon, Whipple & Co.
Blunt Ellis & Simmons
Howe, Barnes & Co.
McMaster Hutchinson & Co.
Allan Blair & Company
***************** ******* **** ***** ****
Reference is made to your Notice of Sale, dated August 22, 1966,
relating to the sale of $2,000,000 Surface ¥ater Drainage System Bonds, !
df th~ 'Citj df Des Pl~ines, Cook County, Illinois, which is made a
part hereof.
· ·For 1dtit I~gdlly'isstled·bonrls; as more fully described in said
Notice of Sale, we will pay you principal amount of $2,001,378.00 and
accrued interest from October 1, 1966 to date of delivery of said
bonds for bonds bearing interest at the following ·rate or rates and
due Januaty 1 in the years indiated:
1969 through 1986 at 4!%
For tnformative purposes, we have made the following computations:
The net interest cost from October 1, 1966 to the maturities thereof
under this bid is as follows:
Gross dollar interest cost (as of 10-1-1966) •••• $1,078,875.00
Less premium.................................... 1,378.00
Net dollar interest cost •••••••••..•.....•.••••• 1,077,497.00
Net interest cost............................... 4.494252%
As a guarantee of good faith, we enclose (certified) (cashier's)
check in the amount of $40,000 payable to the City of Des Plaines,
Cook County, Illinois, to be retained by you pending full performance
by us and to be forfeited to the City as full liquidated damages upon
failure by us to accept deli.very and pay for the bonds when ready for
delivery. This check may be used in partial payment for said bonds.
The First National Bank of Chicago
The Northern Trust Company
Respectfully submitted,
The First National Bank of Chicago ·Account 'Mana~ers
and Associates ·{See 'below) · · · · , ~ ~ · · ~ ' · ·For the Managers
· · · · 'By./s/ P.A.Bergquist
Vice-President
Accepted pursuant to authority granted by the City cCouncil of the City
of Des Plaines, Cook County, Illinois, this ••• day of •••••• 1966. The
receipt of the above mentioned check is hereby acknowledged.
(cont'd.)
2 4 1
Page Six
BID (cont'd.)
First Nat'l. Bank of Chicago ~~/~ Mayot'
Attest:-
Citr Clerk
(SEAL)
The foregoing bid is submitted for the benefit of the following firms
who are members of our bidding account:
The First National Bank of Chicago ~
The Northern Trust Company
Account Managers
A.G.Becker & Co.,Incorporated
Bacon, Whipple & Co.
Blunt Ellis & Simmons
Howe, Barnes & Co.
McMaster Hutchinson ·& Co.
Allan Blair & Company
************* Alderman Rateike entered * * * * * * * * * * * * * * * * * * * * * * * * at _this_time at 8:27 P.M.
Tabulate Bids __ It was .moved by Alderman Prickett and
seconded by Alderman French that Mr,
E. Benjamin t: be excused to tabulate the
bids while the City Council continues
with its regular business and that when Mr. Benjamin has finished tab-
ulating the bids he returns and reports to the City Council.
Metropolitan Sanitary
District
Award Bid to Continental
Illinois National Bank &
Trust Co.
On Roll Call, the vote was:
AYES: 12 -Alderman Shillington, Figard,
Czubakowski, Wagner, Swanson,
French, Martin, Bonaguidi,
Szabo, Prickett, Wright,
Mayor
NAYS: 0 -None
ABSENT: 2 -Aldermen Bolek, Leer
ABSTAINED: Alderman Rateike
There being twelve affirmative votes,
Motion Carried.
It ~as _moved by Alderman Prickett fPld
seconded by Alderman Bonaguidi that the
actions explained by Mayor Behrel re-
garding the location of the Metrop~litan
Sanitary District Sew11ge Treatment Plant
at Oakton & Elmhurst be concurred in.
Motion Carried.
It was moved by Alderman Prickett and
seconded by Alderman French that pursuant
to.Mr. Benjamin's recommendation the sale
of $2,000,000 Surface Water Drainage Bonds
be awarded to Continental Illinois National
Bank and Trust Company and associates for
bonds bearing interest at the following
rates:
1969 through 1973 at 4~
1974 through 1975 at 4.40%
1976 through 1986 at 4~
being a net interest cost to the City
of 4.49259% and that the Mayor and City
Clerk be authorized and directed to
execute above bid.
_On Roll Call, the vote was:
AYES: 13 -Aldermen Shillington, Figard,
Czubakowski, Wagner, Swanson,
French, Martin, Bonaguidi,
Rateike, Szabo, Prickett,
Wright, Mayor.
NAYS: 0 -None
ABSENT: Alderman Bolek and Leer
There being thirteen affirmative votes,
Motion Carried.
242
9/12/66
Checks of Unsuccessful
Bidders Returned
Page seven
It was moved by Alderman Prickett and
seconded by Alderman Figard that the
checks of the unsuccessful bidders be
returned with our thanks.
On Roll Call, the vote was:
AYES: -13 -Aldermen Shillington, Figard,
Ozuba~owski, Wagner, Swanson,
French, Martin, Bonaguidi,
Rateike, Szabo, Prickett,
Wright, Mayor.
NAYS: 0 -None
ABSENT: -2 -Alderwen Bolek, Leer.
There being thirteen affirmative votes,
Motion Carried.
Council recessed from 8:43 to 9:20 P.M.
ORDINANCE M-25-66
Bonn Ordinance
Adopt Ordinance M-25-66
Letter of Commendation
to Mr. Max Sawyer
ADJOURNMENT;
It was moved by Alderman Martin and
seconded by Alderman Wagner to place
Ordinance M-25-66 on passage. On Roll
Call, the vote was: ·
AYES: -13 -Aldermen Shillington,
Figard, Czubakowski, Wagner,
Swanson, French, Martin,
Bonaguidi, Rateike, Szabo,
Prickett, Wright, Mayor.
NAYS: -0 None
ABSENT: -2 -Alderman Bolek, Leer.
There being thirteen affirmative votes,
Motion ·Carried.
It was moved by Alderman Prickett and
seconded by Alderman Szabo to adopt
Ordinance M-25-66. On Roll Call, the
vote was:
AYES: -13 -Aldermen Shillington,
Figard, Czubakowski,
Wagner, Swanson, French,
Martin, Bonaguidi, Rateike,
Szabo, Prickett, Wright,
Mayor.
NAYS: 0 -None
ABSENT: 2 -Alderman Bolek, Leer.
There being thirteen affirmative votes,
Motion Carried, and Bond Ordinance
M-25-66 adopted.
It was moved by Alderman Bonaguidi
and seconded by Alderman Prickett that
Mayor Behrel send a letter of Commenda-
tion to Mr. Max Sawyer, President of
the Fir~t National Bank of Des Plaines
for his civic efforts in the sale of
$2,000,000 Surface Water Drainage System
Bonds. Motion Carried.
It ~was moved by Alderman Shillington
and seconded by AlderMan Prickett th~t
the Adjonrned meeting of the City Council
adjotlrn.
On Roll Call, the vote wRs:
AYES : -13 -Aldermen ShilUngton,
Figard, Czubakowski,
Wagner, Swanson, French,
Martin, Bonaguidi, Rateike,
Szabo, Prickett, Wright,
Mayor.
NAYS• 0 None
ABSENT: - 2 Aldermen Bolek, Leer.
There being thirteen affirmative votes,
Motion Carried.
/ _, ~
APPROVED BY ME THIS l>AY
O F~'/ 1;;9JJ A~. // J~~ G1 . ) /? " 1 ~~MAYOR Ber ~~~lerk