HomeMy WebLinkAboutCity Council Resolution 1962-032EXTRACT OF MINVM OF MEETING OF THE
VILLAGE COUNCIL OF THE VILLAGE OF
PLYMOUTH, HENNEPIN COUNTY, MINNESOTA
Pursuant to dare call and notice thereof, a regular meeting
of the Village Council of the Village of Plymouth, Minnesota,
was duly held at the Council Hall, at 13800 Highway #55, on
the 19th day of .Tune, 1962, at 7:30 o'clock p.m.
The following members were present:
Mayor Keefe, Trustees Kreata, Yngvo, Curtis and Teberg
and the following were �tbsent• None
Tru>stes:.£�- introduced the following resolution and
moved its adoption:
A REWLUTION PROVIDING POR THIS ISSUANCE AND BALE OF
$81,000 STREET IMPROYffiMUNT BONDS.
BE IT IMSOLVSD by the Village Council of the Village of
Plymouth, Minnesota, as follows:
1. The village council deems it necessary and expedient
to issue the negotiable coupon street improvement
bonds of 19612 of the village in the amount of $81,000. The
specifications for such bond issue shall be as not forth in
the following Notice of gale and shall be, substantially,
the Notice of Bond Sale to be so published:
NOTICE OF 3AU
$31,000 Street Improvement Bonds of 1962
Village of Plymouth, Minnesota
NOTICE I3 HEREBY GIVEN That the Village Council of the Village
of Plymouth, Minnesota, will meet at the Council Room in said vil-
lage on Tuesday, the seventeenth day of July, 1962, at 7:30 o'clock
p.m., Central Daylight Standard Time, for the purpose of receiving
and considering sealed bids for the purchase of $81,000 Street
Iraproveme.t Bonds of 1962, of th,3 village, bearing interest at the
rate cr ratrs designated by the successful bidder, payable August 1,
J43 196# and semiannually thereafter on August 1 and February 1 in
each }oar and maturing serially on August 1 in the amount of $lG,20G
in the years 1004 to 1960, both inclusive, all without
option of prior payment.
The bonds will be general obligations of the village. Both
principal and interest will be payable at any suitable bank desig•-
nated by the purchaser within 2� hours after award. The village
will furnish printed bonds and approving legal opinion of Messrs.
Howard, Peterson, LeFevere and Lefler, Minneapolis, Minnesota, both
without expense to the purchaser. The bonds will be delivered
to the pvrc.haser within forty days after the date of sale,
accompanied by an unqualified approving legal opinion and customary
final deliv ry papers, including a certificate showing absence of
litigation. Tf requested in the bid of the successful bidder, a
copy of the legal opinion certified by the Village Clerk will be
printed on the back of each bond at the expense of the bidder.
All aids must be in writing enclosed in a sealed envelope, be
unzonditional except as to the above opinion, and be left with the
undersigned prior to the above time, accompanied by a certified
check, bank draft or cashier's check in the amount of at least
$1,000, payable to the order of the village, to be forfeited as
liquidated damages in event the bid is accepted and the bidder fails
to comply therewith. Bidders may state one or more interest rates
In multiples of one-quarter or one-tenth of one percent. Each bid
may specify additional interest represented by extra coupons for
a period not exceeding one year and in amount not exceeding $1,500.
Bidders are also asked to state total interest cost and average
rate. No bid for less than par plus accrued interest from date of
issue to date of bond delivery will be considered. Oral auction
bids will not be received. The right to waive any informality and
the right to reject any and all bids are reserved.
By Order of the Village Council.
H. T. Johnson
H. T. Johnson
Village Clerk
Village of Plymouth
13800 Highway #55
Minneapolis 27, Minnesota
Herbert P. Lefler
Village Attorney
2201 First National Bank Building
M nneapo1s 2, Minnesota
2. The Village Council deems it necessary in order to
provide for payment of said bonds at maturity to levy
assessments in the amount of $81,000 over a period of five
years beginning in 1962.
3. The Village Clerk shall cause the above Notice of
such sale to be given by publication at least ten
days in advance of said sale in the official newspaper of the
village and in Commerical West, a financial paper published
in Minneapolis, Minnesota.
The motion for the adoption of the foregoing resolution
was duly seconded by Trustee A1,,_-, , and upon vote being
taken thereon the following voted in favor thereof: Mayor
Keefe; Trustees Kreats, Yngve, Curtis and Teberg and the follow-
ing voted against the same:
None
whereupon said resolution eras declared duly passed and adopted.
STATE OF MINKRWTA )
COUM OF MWIWIN ) S3
VILLAGE OF PLYMOUTH)
I, the undersigned, being the duly qualified and acting
Clerk of the Village of Plymouth, Minnesota, hereby certify
that I have carefully compared the attached and foregoing
extract of minutes of a regular meeting of the village council
of said village held September 12, 1961, with the original
thereof on file in my office and the same is a full, true
and complete transcript therefrom insofar as the some relates
to the sale of $81,000 Street Improvement Bonds of the village.
ITNESS my hand officially as Clerk of said village this
day of �, ,. 1962.
31age �®T
RESOLL";ION 62-3?
WOTICF. OF SALE
$81,000 STM=1 IMPROVa- W= "DS OF 1962
VILLAGS OF PLYMOUTH, MIWOOTA
NOTICE IS &MY OYVE1 That the Village Council of the Village of
Plymouth, Minnesota, 411 meet at the Counciltbom in said village on Tuesday,
the seventeenth day of July, 1962, at 7130 o'clock p.m., Central Daylight Standard
Time, for the purpose of recei dng and considering sealed bids foa° the purchase of
$81,0:0 Street Improvement Bonds of 1962, of the village, bearing interest at the
rate or rates designated by the successful bidder, payable August 1, 1963, and sami-
annually thereafter on August 1 and February 1 in each year and maturing serially on
August 1 in the amount of $16,200 in the years 1964 to 1968, both inclusive, all with-
out option of prior payment.
The bonds will be general obligations of this village. Both principal and
interest will be payable at any suitable ',ank designated by the purchaser within 24
hours after award. The village will furnish printed bonds and approving legal opinion of
Messrs. Howard, Peterson, LeFebere and Lefler, Minneapolis, Minnesota, both without
expense to the purchaser. The bands will be delivered to the purchaser within forty
days after the date of sale accompanied by an unqualified approving le gal opinion and cus-
tomary final delivery papers, including a certificate showing absence of litigation. If
requested in the bid of the successful bidder, a copy of the legal opinion certified by
the Village Clerk will be printed on the back of each bond at the axpense of the bidder.
All bids aunt be in writing enclosed in a sealed envelope, be unconditional
except as to the above opinion, and be left with the undersigned prior to the above
time, accompanied by a certified check, bank draft or cashier's check in the amount
of at least $1,000, payable to the order of the village, to be forfeited as liquida-
ted damages in event the bid is accepted and the bidder fails to comply therewith.
Bidders my state one or more interest rates in multiples of on"uarter or one-tenth
of one percent. Each bid may apeoiry additional interest represented by extra coupons
for a period not exceeding one year and in aaount not exceeding $1,500.
Bidders are also asked to state total interest cost and average rate.
No bid for less than par plus accrued interest from date of issue to date of bond
delivery will be considered. Oral auction bids will not be received. The right to
waive any informality and the right to reject arlyr and all bids are reserved.
By Order of the Village Council.
H. T. Joluyeon - --
Village Clerk
Village of Plymouth,
13800 Highway #55
Minneapolis 27, Minnesota
Herbert P. Lefler
Village Attorney
2201 First Rational Bank Building
Minneapolis 2, Minnesota