HomeMy WebLinkAboutCity Council Resolution 1979-431CITY OF PLYMOUTH
Pursuant
to due call and notice
thereof, a _special
meeting of
the City
Council of the City of
Plymouth, hfinnesota was a on
the
30th
day of _ July , 19 79 . The following
members were
t present:
Ma oar Hunt, Councilme�rs
Davenport, Hit, Neils and
Spaeth
The following members were absent:
None
Councilmember Hoyt introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 79-431
APPOINTING LAWRENCE LARSON TO PLYMOUTH PLANNING COMMISSION
WHEREAS, there exists a vacancy on the Planning Commission, and
WHEREAS, the Council has solicited applications and interviewed applicants
for this position;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA that Lawrence Larson be appointed to the Planoing Commission
for a term expiring January 31, 1981.
The motion for the adoption of the foregoing Resolution was duly seconded by
Pursuant to due call and notice thereof, a regular meeting of the
Council of the City of Plymouth, Minnesota, was duly held in the City Hall
in the City of Plymouth, on Monday, August 6, 1979, commencing at 7:30
o'clock p.m.
The Mayor and the following members of the Council were present:
David J. Davenport, Patricia Hoyt, Gerald Neils
and the following were absent
John M. Spaeth
The Mayor announced that the meeting was convened for the consid-
eration of the bids which had been received for the purchase of $7,000,000
General Obligation Improvement Bonds of 1979, as advertised for sale. The
City Clerk presented affidavits showing publication of notice of sale in
the official newspaper and in Commercial West, a financial paper published
in Minneapolis, Minnesota, which affidavits were examined and found satis-
factory and ordered placed on file.
The City Clerk presented the tabulation of bids which had been
received prior to the time'specified in the notice of sale, which had been
opened and tabulated with the assistance of Ehlers and Associates, Inc.,
financial advisers to the City. The bids were as follows:
SEE ATTACHED "BID TABULATION"
ME OF BIDDER
RATES
YEARS
NET INTEREST COST
& RATE PRICE
INC NORTHWEST
5.10%
1981
$2,061,975.05 $6,940,499.95
finneapolis, Minnesota
5.15%
1982
1986/87
IE 'FIRST NATIONAL BANK OF SAINT PAUL
5.20%
1983
5.4549%
.t. Paul, Minnesota
5.25%
1984/85
5.50%
ugherty, Dawkins, Strand & Ekstrom,
5.30%
1986/87
Inc.
5.35%
1988
Merrill Lynch White Weld Capital
linneapolis, Minnesota
5.40%
1989
5.45%
1990
PIPER, JArFRAY & HOPWOOD, INC.
5.20%
1981 $2,085,586.25 $6,937,070.00
"; Minneapolis, Minnesota
5.25%
1982/83
:"JOHN NUVEEN & COMPANY
5.30%
1984/85 5.5174%
' Chicago, Illinois
5.35%
1986/87
:Allison -Williams Company
5.40%
1988
;:Minneapolis, Minnesota
5.45%
1989
"American National Bank of St. Paul
5.50%
1990
"St. Paul, Minnesota
Carleton D. Beh Company
Merrill Lynch White Weld Capital
Markets Group
Paine, Webber, Jackson & Curtis, Inc.
Dean Witter Reynolds, Inc.
" Minneapolis, Minnesota
Channer Newman Securities Company
"Chicago, Illinois
BT& Tabulation
$7,000,000 G. 0. Improvemeat Bonds
City of Plymouth, Minnesota
{I OF BIDDER
RATES
YEARS
NET INTEREST COST
& RATE PRICE
FIRST NATIONAL BANK OF CHICAGO
5.20%
1981/83
$2,088,868.81 $63926,449.95
"CONTINENTAL ILLINOIS NATIONAL BANK &
5.25%
1984
TRUST COMPANY
5.30%
1985/86
5.526108%
THE NORTHERN TRUST COMPANY
5.35%
1987
HARRIS TRUST AND SAVINGS BANK
5.40%
1988
L. F. Rothschild, Unterberg Towbin
5.45%
1989
'Chicago, Illinois
5.50%
1990
Mercantile Trust Company, N.A.
`St. Louis, Missouri
Wauterlek & Brown, Inc.
Chicago, Illinois
;First National Bank & Trust Company
Oklahoma City, Oklahoma
Bank of Oklahoma
,Tulsa, Oklahoma
`LaSalle National Bank
'Hutchinson, Shockey, Erley & Company
Chicago, Illinois
:First Wisconsin National Bank
:Blunt Ellis & Loewi, Inc.
.Milwaukee, Wisconsin
,Vmpen Sauerman, Inc.
i5 Barney, Harris Upham & Co., Inc.
Chicago, Illinois
Lehman Brothers
First Pennco Securities, Inc.
New York, New York
°First National Bank in Dallas
Dallas, Texas
,MarineNational Exchange Bank
'Robert W. Bai.rd & Company, Inc.
Milwaukee, Wisconsin
MORGAN GUARANTY TRUST COMPANY
SALOMON BROTHERS
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
W._H. MORTON & COMPANY
ENRLICH-BORER & COMPANY, INC.
New York, New York
5.25% 1981/82 $2,128,769.00 $6,910,187.00
5.30% 1983/85
5.401b 1986/87 5.6316%
5.50% 1988/89
5.60% 1990
EHLERS AND ASSOCIATES, INC_
Financial Specialists
507 Marquette Ave.
Minneapolis, Minnesota 55402
Telephone: (612) 339-8291