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HomeMy WebLinkAboutCOMM - Meeting Minutes - 263 - 12-3-1958 - COMMISSIONERMINUTE R o O K• ' 299 iq- u 1 BOAR© 'OF' COUNTY COMMISSIONE Sp��{�h �� pW�y�ASHI�NGTON ZOUNTY, PENNSYLVANtA FRANCIS E. PETTIY,*�" t f F3 3'F4AAZZA, COMMISSIONERS �i ii/+ 4�,aGM21 . N0. 263 Office of the County Commissioners Washington, Pa., December 3, 1958 Board of County Commissioners in special session for the purpose of opening bids for th sale of $300,000.00 1958 Bonds to establish a permanent records stem in the Board for the Ass® )-- P system s_ ment and Revision of Taxes. Those present at the meeting being Commissionerit Cummins., Mazza, Con- troller Elish and Solicitor Frank J. Docktor. In accordance with the aforemention advertisement the following action was taken. Motion by Mr. Mazza, seconded by Mr. Cummins, that the following resolution be adopted. R E S O L U T I O N WHEREAS, pursuant to public notice by advertisement given according to law, the following bids have been received for the purchase of the issue of bonds of the County of Washington, Penn- sylvania, in the sum of Three Hundred Thousand Dollars ($300,000.00), dated November lst, 1958, and known as "Issue of 1958 Bonds." Name of Bidder The First Boston Corporation, Chaplin and Co., McJuWdn, Patton & Company A. E. Masten & Co., Kay, Richards & Co., McKelvy & Company Stroud & Company, Inc., Schmidt Roberts & Parke r - - _' - DeHaven & Townsend, Crouter & Bodine, Poole & Co. Arthurs, Lestrange & Co., Blair & Co., Inc., Singer, Deane & Scribner, Steele, Haines & Co. Interest Rate 3% 3 1/8% 3 1/8% 3 1/8% 3 1/4% Moore, Leonard & Lynch, Cunningham., Schmertz & Co., Inc. Hulme, Applegate & Humphrey, Inc. 3 1/4% Premium $1,920.00 $1,021.20 777.00 $ 228.00 $1,176.00 $ 792.00 AND WHEREAS it appears that The First Boston Corporation, Chaplin & Co., McJunkin, Patton & Company with their bid of par, accrued interest and a premium of $1,920.00 for 3% bonds is the highest responsbile bidder; NOW, THEREFORE, BE IT RESOLVED, that the said bonds be issued to bear interest at the rate of 3% per annum and are hereby awarded and sold to The First Boston Corporation and AssociatfAs in accordance with their aforesaid bid, subject to the approval of the authorizing proceedings by the Department of Internal Affairs of Pennsylvania, and the_Treasurer is directed to deliver the said bonds to the said purchaser upon the receipt of the purchase price '.s specified in said bid. BE IT FURTHER RESOLVED, that the checks accompanying the bids of the unsuccessful bidder be returned to them by the Chief Clerk. l Motion carried unanimously. Motion by Mr. Mazza, seconded by Mr. Cummins, that the following resolution providing for the issue and sale of $300,000.00 issue of 1958 bonds be adopted. ~ RESOLUTION PROVIDING FOR THE ISSUE AIND SALE OF $300,000,00 ISSUE OF 1958 BOWS � WHEJUAS, the Act of May 213, 1943, P. L. 571, as amended., requires that th& Board for the Assessment and Revision of Taxes of Washington County shall establish a permanent records system • M in the Board for the .Assessment and Revision of Taxes, which system shall include tax maps of the Ty '- entire County, indicating all property and lot lines and identifying the respective parcels or lots by a system of numbers or symbols; property record cards arranged geographically acscording 300 MINUTE BOOK BOARD OF CO,UNTY COMMISSIONER Blatch Guzrarr SHINGTON COUNTY, PENNSYLVANIA FRANC IS E. PETTIT, Ww4w"M ii. JOHN MAi'ZA, COMMISSIONERS MONONGANBLA PUBLISHING CO to the location of property on the tax maps, which cards shall ,ket forth the location and descrip tion thereof, acreage or dimensions, improvements, if any, owner's name, address and date of acquisition, the purchase price, assessed valuation and symbol ber;and property owners' index listing all property owners and describing each parcel; and WHEREAS, the Board is authorized by said Act to enter into such contracts as may be necessary to establish the permanent record system; and VMREAS, it is necessary that the County of Washington borrow money and incur an indebted- ness in the amount of Three Hundred Thousand Dollars ($300,000.00) for the purpose of paying a part of the cost of establishing the permanent records system required by said Act; THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the County of Washinf,- ton, as follows: - Section 1. That the indebtedness of the County of Washington and and it is hereby in- creased by the amount of Three Hundred Thousand Dollars ($300,oO0.00) for said purposes by an issue of general obligation bonds of the said County. Section 2. Said bonds shall be in coupon form, numbered consecutively from one (1) to three hundred (300), both numbers inclusive, each in the principal sum of One Thousand Dollars ($1,000.00), dated and bearing interest from the first day of November, 1958, at the rate of Three 0%) per centum per annum, payable semi-annually on the first day of the months of May and November in each year during the term of said bonds which shall mature in numerical order and be paid as followsa- Thirty bonds, Thirty Thousand Dollars ($30.,000.00) on November first in each of the years 1959 to 1968, both inclusive. The principal and interest of said bonds shall be payable at the office of the County Controller of said County in the City of Washington, Pennsylvania. Said bonds shall also provide that the County of Washington will pay or refund any tax (except gift, succession or inheritance tax) legally levied or assessed upon said bonds or upon the debt secured thereby under any present or future law of the Commonwealth of Pennsylvania. Section 3. Said bonds are hereby declared to be general obligations of the County of Washington, and shall pledge the full faith and credit of the County. Section 4. The period of usefulness of the improvements for which the said bonds are to be issued is twenty (20) years. Section 5. The form of said bonds and the coupons thereto annexed shall be substantial- ly as follows: - UNITED STATE Off' ANIMCA CODA NWEALTH OF PENNSYLVANIA COUNTY OF WASHINGTON ISSUE OF 1958 BOND No. $1,000.00 KNOW ALL MEN BY THESE PRESENTS, that the County of Washington, in the Commonwealth of Pennsylvania, is indebted and promises to pay to the bearer, or, if registered, to the registered owner hereof, the sum of One Thousand ($1,000.00) Dollars, lawful money of the United States of America on the first day of November, 19 , at the office of the County Controller of said County in the City of Washington, Pennsylvania, with interest thereon from the date hereof, until 1 E this bond shall be fully paid, at the rate of Three (3%) per centum, per amma., payable semi- annually at the office of said County Controller on the first day of the months of y and M NU t E floor BOARD OF" COUNTY COMMISSIONS S ASHINGTON COUNTY, PENNSYLVA.NIA ,UB 18h C� FRANCtS E. PETTI , A.f�iGt,.90HN MAZZA, CflMMl5s10wErxs it 1 I November of each year, upon presentation and surrender of the annexed coupons as they severally become due and to pay or refund any tax, except gift, succession or inheritance tax, legally levied or assessed thereon or upon this bond or upon the debt secured hereby under any present or future law of the Commonwealth of Pennsylvania; and for the true and faithful payment of this bond and the interest and taxes thereon as aforesaid, the faith, credit, taxing power and resources of the County of Washington are hereby irrevocably pledged. This bond is one of a series of three hundred (300) bonds of like date, amount and tenor, except as to the date of maturity; numbered consecutively from one (1) to three hundred (300) bott inclusive; amounting in the aggregate to the sum of Three Hundred Thousand Dollars ($300,000.00), issued in accordance with the Act of the General Assembly of the Commonwealth of Pennsylvania, approved the twenty-fifth day of June., A.D. 1941, P.L. 159, as amended, and by virtue of resolu- tions of the Board of County Commissioners of said County and the sworn statement of authorized officers thereof, as appears of record in the Office of the Clerk of the Court of Quarter Sessions of Washington County, Pennsylvania. It is hereby certified that all acts, conditions and things required to be or be done, happen and be performed precedent to and in the issuance'of this bond or in the creation of the debt of which it is evidence have been done, happened and been performed in regular and due form and manner as required by law and that this bond, together with all other indebtedness of the saic County of Washington is not in excess of any constitutional or statutory limitation and that an annual tax sufficient for the payment of all future debt service charges on the issue of bonds of which this bond is a part, has been properly levied and assessed and that said tax is not in excess of any legal limitation. This bond shall pass by delivery or it may be registered in the name of the owner at the office of the County Controller in the City of Washington;` such registration being noted hereon by the said County Controller. After such registration, no transfer shall be valid unless made at said office by the registered owner in person or by an attorney duly authorized and similarly noted. hereon. This bond, shall, however, be discharged from registration by being in like manner trans ferable by delivery; but it shall continue subject to successive registration and transfer to bearer as aforesaid at the option of the holder. The transferability of the coupons by delivery shall not be affected by registration of the bond. IN WITNESS WEEREOF, the County of Washington has caused this bond to be properly executed by its County Commissioners or a majority of them and its corporate seal to be hereto affixed, ane. to be countersigned by the County Controller of said County, and has also caused the coupons hereto attached to be authenticated with the facsimile signature of the County Controller as of the date the first day of November, 1958. Countersigned -.- No, County Controller COUNTY OF WASHIN TON County Commissioners The County of Washington, Pennsylvania, will pay to bearer at the office of the County Controller of said County in the City of Washington, Pennsylvania, on the first day of , 19 , Fifteen ($15.00) Dollars, in lawful money of the United States of America, free of Stat 302 MINUTE B'oOK $OARD OF' COUNTY COMMISSION£ S WgASHINGTON COUNTY, PENNSYLVANIA FRANCIS E. PETTIY Wr 0AW?�F4AZZA, COMMISSIONERS MONONGAHSLA PUBLISHING 60 Taxes, being six months' interest on its Issue of 1958 Bond, dated November 1, 1958, and numbered FORM OF REGISTRATION Date of Registry In Those Name Registered County Controller County Controller Section 6. The said bonds shall be signed by the County Commissioners or a majority of them and countersigned by the County Controller and the corporate seal of said County shall be affixed thereto. The coupons shall be authenticated with the iithographedfacalmi .e signature of the County Controller. The Treasurer shall deliver said bonds to the purchaser and receive pay- ment therefor on behalf of the County after sale of the bonds in the manner required by law. Section 7. There is hereby levied and assessed upon all persons and property subject to taxation for County purposes' an annual tax in each of the following fiscal years of so many mills as will yield amounts sufficient for the payment from time to time of interest covenanted to be paid can said bonds and the principal thereof at maturity: Year Amount 1959 $39,000.00 1960 38,100.00 1961 37,200.00 1962 36,300.00 1963 1964 34,5oo.00 1965 33,600.00 1966 3 2, 700. 00 1967 31,8M.00 1968 30,900.00 which taxes are sufficient for and shall be applied exclusively to said debt service charges as the same shall from time to time become due and payable. The collection of said tax shall commerce with the fiscal year beginning 1959 being the first fiscal year following the issue of said bonds,, Section 8. There is hereby established a sinking fund for the payment of the bonds hereby authorized. All moneys realized from, the taxes hereby levied shall be paid into the sink- ing fund hereby created as collected and shall be applied exclusively to the payment of the princ- pal of said bonds at maturity and to interest and State Tax thereon meanwhile to which purposes they are hereby irrevocably pledged. Section 9. There is hereby appropriated and transferred from the General Finis of the County the sum of $4,500.00 for the purpose of meeting the requirements of this issue of bonds for debt service charges pending the collection of the tax levied for that purpose and such amount so appropriated and used shall be repaid to the General. Fund out of the proceeds of the tax levied for the year 1959. Section 10. It is hereby declared that the debt to be incurred hereby, together with the existing net debt of the'County is not in excess of any constitutional or statutory limitation and the County Commissioners, or a majority of them, and the County Controller are hereby directed and authorized to prepare, verify and file with the Clerk of the Court of Quarter Sessions of Washington County, the statement required by the Act of Assembly approved June.. 25th, 1941., P.L. 159, as amended, to do and perform all other acts proper in connection therewith. 1 MINUIrE 13100K in 1 80ARDF I?E COUNTY COMMISSIONS S WASHINGTON COUNTY, PE:N SYILV"At41A L FRANCIS E. PETTIY,* 4w�i.R0` F A±ZA, COMMISSIONERS NONONOANYLA PUBLISHING CO -- •� p..www�.•...��.w,.ww,��.rw,ww...�uw�u�.wiwx.L'2.C':::ld.".!.!:"......,.....��..,...,�..._______.....::/Y::f_..�..� ���...... _ Section 11. A11 resolutions or parts of resolutions not in accord with this resolutio are hereby repealed insofar as they conflict herewith. PASSED this 3rd day of December, 1958. J. Blatch Cummins /s/ John Mazza /s/ Commissioners ATTEST: Joseph Di Filippo /s/ Chief Clerk (SM) Motion carried unanimously. Motion by Mr. Mazza, seconded by Mr. Cummins, that the following statement in re: Increase of Indebtedness of the County of Washington, Commonwealth of Pennsylvania, be adopted: IN THE COURT OF QUARTER SESSIONS OF WASHINGTON COUNTY, PENNSYLVANIA. In re:- Increase of Indebtedness } of the County of Washington, } No. 1958 Sessions, Commonwealth of Pennsylvania. ) STATEMENT We, the undersigned County Commissioners, or a majority of them, and the Controller of the County of Washington, Commonwealth of Pennsylvania, make the following statement under oath in compliance with Section 209 of the Act of Assembly of the Commonwealth of Pennsylvania, approved the 25th day of June, 1941, P.L. 159, as amended. First:- The present actual indebtedness of the said County of Washington is as follows: - Gross Liabilities *465,000.0o The presently authorized but unissued bonds aggregate 300,000.00 a Total Gross Liabilities $765,000.00 Lawful Deductions: - (a) Cash held in any sinking fund for the payment of the principal of the out- standing debt $ 34,737.60 (b) The portion of the delinquent taxes on real estate for the year 1957 and prior years which is treated as current revenues for the payment of current expenses 98,239.54 (c) ,Current revenues applicable within the current fiscal year to the payment of the debt above set forth 103,,606.80 Total deductions $236.583.94 The net debt of the County is $528,4166 The gross amount of debt authorized, and of debt issued and outstanding with the assent of the electors is lone The amount of the net debt of the County authorized and issued and outstanding without the assent of the electors is $528.1 16#66 Second:- The amount of the assessed valuation of the property taxable by the County at last determined by the Board of Revision is $201,489,310.00.