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356 <br /> September 30,1652 <br /> Section 3. Additional Authority. The City officials, their (—) <br /> agents and representatives are hereby authorized and directed <br /> to do everything necessary for the prompt.issuance and delivery <br /> of the Bonds and for the proper use,and.application of the <br /> proceeds of such sale. <br /> Finance Director Bill Cushman introduced Dick Kennedy of <br /> Securities Northwest and the City's financial advisor who <br /> explained that there were three bidders for the the purchase of <br /> the water and sewer revenue bonds. Prudential Securities was <br /> the winner with 6.06% interest rate. He also explained that <br /> the the decision to withdraw the refunding bonds from public <br /> offering was due to the /ow rates at this time. Mr. Kennedy <br /> recommended that Council accept Prudential Securities bid. <br /> KennedyCoutctleeeters rating. Mr. cur=innolotreSt= =Tots 1g <br /> Moody's Investor Sar.:ratings. <br /> Roll was called with all councilmen voting yes except <br /> Councilman Diamond who vms eXcUsed. <br /> Motion carried. <br /> RESOLUTION-SPEED LIMIT <br /> Moved by Councilman Moser, seconded by Councilmen Campbell to <br /> adopt Resolution No. 3675 for a speed limit reduction 30 MPH <br /> to 25 MPH,on East Grand Avenue, 23rd Street to Everett Avenue <br /> as follows; <br /> WHEREAS, a request has been received to reduce the speed limit <br /> on East Grand Avenue, 23rd Street to Everett Avenue, from 30 <br /> MPH to 25 MPH; <br /> conductedstudy of :%:Lr :Rlc=f' smntrllgaPcrcsrcharihes=a <br /> WHEREAS, The Mayor's Transportation Advisory Committee has <br /> reviewed the request and recommends that the speed limit <br /> reduction be aPPrOved; <br /> 600,EFME:Ohs IfT.pRZLnVgE13b e Y.MEr ret aCnOdUN,CLLt ear,.eTHE CITY <br /> 0 <br />