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HomeMy WebLinkAboutminutes.council.19610629 Aspen, Colorado Special Meetin~ Aspen °ity Council June 29, 1961 Mayor Garfish opened the meeting at 5:00 PM with Councilmen Braun, 'Beyer, Anderson and James, City Attorney Stewart and City Administrator Wurl present. Mr. John Reed an~ Attorney Charles Stewart were present for Rocky Mountain Natural Gas Co. Mayor Garfish told the representatives from Rocky Mountain Natural Gas Co. that Rocky Mtn. as it was a special m~eting,'any question of the validity of the meeting would be their Natural Gas Co. responsibility, as the meeting had been arranged at the request of the Rocky Mtn. Natural Gas Co. Mr. Reed said their franchise had been read in Glenwood Springs on Wednesday June 28. Councilman Anderson asked about their first quarterly r~port for 1961, and Mr. Reed replied that he had been forbidden by Merrill, Lynch Co. their investment bankers, to issue such report, because the Security and Exchange Commission does not permit such information to be given out, if it could be construed to affect th~ price of stock. But he said he would like to have Council call Merrill, Lynch Co. for verbal information if they so desired. Mr. Anderson asked for how many'years they would be able to operate without any profit, and Mr. Reed said ~hat there were no mortgages on their property to date and showed chart indicating their ability to undertake the project. Discussion followed - engineering report - preliminary report drafted. financing - Mr. Stewart said he had received a call from Merril, Lynch, Pierce, Fenner and Smith, indicating that they they are satisfied and <-~ committed to the bonding. - Certificate from PUC - Mr. Reed feels confident that they will get it, and they will then start work immediately Ordinance No. 5, Series of 1961 - An Ordinance Granting a Franchise by the City of Aspen, Colorado, to the Rocky Mountain Natural Gas Company, Incorporated, a Colorado Corporation, Its~Successors and Assigns, To Locate, Build, Construct, Acquire, Purchase, Extend, Maintain and Operate into and through the City of Aspen, Pitkin County, Colorado, a Plant or Plants, and W6rks, for the Purchase, Mannfacture, Transmission and Distribution Aspen, Colorado Special Meeting, Aspen City Council June 29, 1961 cont'd. of Gas, Either Natural, Artificial or Mixed, and To Furnish, Sell and. Distribute Said Gas to the City of Aspen, and the Inhabitants Thereof, for Heating, Cooking, or other Purposes by Means of Pipes, Mains, or Otherwise, Over, Under, Along, Across and Through any and all Streets, Alleys, Viaducts, Bridges, Roads, Lanes, and Other Public Ways Motion and Places in Said City of Aspen and Flx~n= the Terms and Conditions Thereof, was read in full for the second time by Attorney Stewart. A motion was made by Anderson seconded by Beyer, to approve Ordinance No. 5, Series 1961, and order it published. Carried unanimously. Mr. Reed said they would like to submit a gas code ordinance after their return to Denver. In connection with metering, he mentioned that Council might want to consult Glenwood Springs on this for standardization. He said the rules and re~ulation~ as approved by the Public Utilities Commission will be submitted to~ether with rate schedule as soon as Certificate is issued by the PUC. Performance Bond, Maps and evidence of insurance will also be submitted. He said he would appreciate a collect call at any time operations are not in accordance with agreement, and he will consult with Mr. Buchanan about easements, utilities, etc. He informed Council that they hope to be ready to start on July 17th. The meeting_ was adjourned at 6:00 PM.