11.24.1954 Town Council MinutesI VMEA
197
.November 24th, 1954.
The Board of Commissioners of the Town of Prosper,
met in billed session in the office of the Mayor, in Prosper
Sts,tez Bank Building, on November' 24th, 1954, with the fol-
-lowing present, U.N.C1ary,,Mayor, Roy Skelton, Commissioner,
and D.C.Reece, Commissioner.
The meeting was called to order by the Mayor.
Mr. M}}nson McKinney, of the Investment firm
of Rauscher., Pierce & Company, of Dallas, met with the
Commission=, and idiscussed in much detail the matter of
finan.cin g tho proposed Sewer System for the Town of
Prosper.
It was then moved, aul duly seconded, that the
Commission make a contract with Rauscner,Pivrce & Company
for all services connected with the issuance and sale of
bonds for tke proposed System, of dhich $ 15,000.00 were to
be tax bonds and $25,000.00 Revenue Bonds. This motion
was duly approved, by unanimous= vote of all present.
The rate on the bonds is to be 3T % on all
maturing within ten years, and 4 on all other, with an
option to purchase all bonds after five years. Rauscher,
Pierce & Company to be paid $ 1,000.00 for their services,
and they to deposit % 800.00, as eveidence of good faith.
within 48 hours after the bonds a-re,voted.
This contract, with accompanying sched3.les,
to be made a part of the minutes of this meeting, and also
to be filed in tee records of the Town of Prosper, under
Minute Page No. 197•
It was orederd that an election be held on
Friday, December 17th, to determine whether of not to ILssue
the above bonds, and C.G.H3,ys was appointed Presiding Judge
of said Election, with Ross Perk�ns as Judge, Mrs. W.H.
Field, as Clerk, and Mrs. T.M.Hughes as Clerk.
The meeting then adjourned.
..............................
•••...a.....L.... .. ..... Secretary.
Mayor.
1