HomeMy WebLinkAboutSpecial Council for February 17 1983WHATCOM COUNTY COUNCIL
Minutes
February 17, 1983
The Whatcom County Council was called to order for a special
meeting on Thursday, February 17, 1983 at 9:40 a.m. by Chair Cole
with all members present except Hawley. Also present were the
following: (see attached).
SPECIAL ORDER OF BUSINESS
The first portion of the meeting was devoted to discussion
regarding the matter of a Public Transportation Benefit Area.
Consideration was next held of the Administrative Appeal of
Gene Bedlington. Bob Tull, attorney representing Bedlington,
submitted addition information to the Council.
At this time the bids were opened for the Limited Tax
General Obligation Bonds Series 1983 in the amount of $585,000.
Steve Gaidos and Jay Riche, bonding counsel were present. The
following bids were received and opened by the Treasurer,
Landy Bowen:
1) Seattle First National Bank for the gross interest
cost of $520,112.50 with an average rate of 8.921312 %.
2) Merrill Lynch for a gross interest cost of. $529,025.00
with an average rate of 9.0741857o
3) Seattle Northwest Securities Corporation for a gross
interest cost of $540,300.00 with an average rate of
9.2675%
4) William P. Harper & Son & Company for a gross interest
cost of $533,162.50 with an average rate of 9.145154
5) Kidder, Peobody & Co., Inc., and Piper, Jaffrey &
Hopwood, Inc. for a total coupon interest of $528,797.50
less premium of $97.50 for a net interest cost of
$528,700.00 with an average rate of 9.06861%
Gaidos took the three lowest bids and verified them with the
computer.
Whatcom County Cc cil
Minutes
February 17, 1983
page two
Council resumed its consideration of the Administrative
Appeal of Gene Bedlington. There was question as to whether
or not the additional information received from Tull should
be entered as part of the record. Roehl moved to open the
record and receive the additional information from Tull and
then to close the record.
Bruce Disend, Civil Deputy Prosecuting Attorney, recom-
mended the Council to remand the matter back to the Hearing
Examiner to review the additional facts received from Tull.
Roehl's motion to receive the additional information
passed.
Johnson moved to remand the matter back to the Hearing
Examiner, requesting that a decision be returned to the
Council on or before March 31, 1983 and that the matter be
scheduled for the Council meeting of April 7, 1983. Motion
passed.
Bid Award. Gaidos reported all three low bids checked
out fine. He recommended the bid of Seattle First National
Bank for the gross interest cost of $520,112.50 with an
average rate of 8.9213127o. Executive Louws recommended
acceptance of same.
Johnson so moved to accept the bid of Seattle First
Nation Bank. Motion passed (Hansey abstained).
The following two petitions were also received by the
Council:
1) Petition from residents of Yew Street and Yew Street
Road requesting that the Transportation Committee
extend the City Buss service to include the Yew Street
Road area
2) Petition from residents of Whatcom County's outlying
areas, requesting that transit service be expanded
to encompass the entire County.
Meeting was adjourned at 11:20 a.m.
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