HomeMy WebLinkAboutCity Council Resolution 1963-040xrmcr or MINOM OF MEETING OF THE
♦ILLs6! CCW CIL OF THE VILLAGE OF
PLINOWNt SIN COOP, MINNESOTA
Pursuant to due call and notice thereof, a regular meeting
of the Village Council of the Village of Plymouth, Minnesota,
WAS duly held at the Village Hall, at 13800 Highway #55, on
the 17th day of ,lune, 1963, at 7:30 o'clock P. M.
The following members were present: Mayar Keefe, Trustees
:'Fallon, Hein an and -art
and the following were absent: Trustee Curtis
Trustee _ ^art introduced the following resolution
and moved its adoption:
A RZ90L Vn(ff PROVIDING FOR 7= ISSUUX8 AND SALE OF
$210,000 3T f IMPROWEMZNT BONDS.
BE IT RZ9OLVED by the Village Council of the Village of
Plymouth, Minnesota, as follows:
1. The village council deems it necessary and expedient
to issue the nsgotiable coupon street improvement
bonds of 1963 of the village in the ,Amount of $210,000.
The specifications for such bond issue shall be as not
forth in the following Notice of Sale and shall be,
substantially, the Notice of Bond Sale to be so pub-
lished:
NOTICE IS HEREBY GIVEN That the Village Council of the Village
of Plymouth, Minnesota, will meet at the Village Hall in said village
on Monday, the fifteenth day of July, 1963, at 7;30 o'clock P. M.,
Central Daylight Saving Time, for the purpose of receiving and con-
sidering sealed bids for the purchase of $210,000 Street Improvement
Bonds of 1933, dated August 1, 1963, of the village, bearing interest
at the rate or rates designated by the successful bidder, payable
August 1, 1934, and semiannually thereafter on August 1 and Feb-
ruary 1 in each year and maturing serially on Lugust 1 in the years
and amounts as follows:
1965 $40,000
1963 40,000
1537 45,000
19610 45,000
1939 40,000
all without option of prior payment.
The bonds will be general obligations of the village. The
village will furnish printed bonds in the denomination of $1,000
each or at purchaser's option in denominations of $5,000 each. Both
principal and interest will be payable at'any suitable bank desig-
nated by the purchaser within 24 hours after award. The village will
furnish printed bonds and approving legal opinion of Messrs. Howard,
""Peterson, LeFevere, Lefler and Hamilton, Minneapolis, Minnesota, both
without expense to the purchaser. The bonds will be delivered to
.the purchaser within forty days after the date of sale, accompanied
4y an unqualified approving legal opinion and customary final delivery
x_ pars, including a certificate showing absence of litigation. If
:r$quested in the bid of the successful bidder, a copy of the legal
dpnion certified by the Village Clerk will be printed on the back
of each bond at the expense of the bidder.
All bids must 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
*,W $4;200, 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
4, -period not exceeding one year and in amount not exceeding $2,100
a and the total interest rate for any period not to exceed 6%.
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 day of bond delivery will be considered. Oral auction bids
will not be received. The right to waive any informality and the
rig" to reject any and all bids are reserved.
By Order of the Village Council.
H. T. Johnson
o nson
Village Clerk
Village of Plymouth
13C00 State Highway No. 55
{ Minneapolis 27, Minnesota
-Herbert P. Lefler
`Village Attorney
2201 First'National Bank Building
Minneapolis' 2, Biinnesota
2. The village council deems it necessary in order to
provide for payment of said bands at maturity to levy
assessments in the amount of $210,000 over a period
of five years beginning in 1964.
3. The village clerk shall cause the above notice of
such sale to be given by publication at least ten
days it advance of said sale in the official nears --
paper of the village and in Commercial West, a
financial paper published in Minneapolis, Minnesota.
The motion for the adoption of the foregoing resolution
was duly seconded by Trustee F(ei , and upon vote being
taken thereon the following voted in favor thereof:
yUr Keefe, Trustees O'Fallon, heiran and Tart
and the following voted against the same: None absent: Trustee Curtis
whereupon said resolution was declared duly passed and adopted.
STATS OF MINMS941711 )
COMM OF Emm"IN ) SS
VILLAO$ 4F PLYNOC1TM)
i, the undersigned, being the duly qualified and acting
Clerk of the Village of Plymouth, Minnesota►, hereby certify
that 7 have carefully compared the attached and for+egoiag
extract of minutes of a regular meeting of the village council
of said village held June 17, 1983 *ith the original thereof
on file in my office and the same In a full, true and complete
transcript therefrom insofar as the same relates to the sale
of $210,000 Street Improvements Bonds of the village.
WITnS8 my hand officially as Clerk of said village this
atk, day of J une , 1983,
age tier