HomeMy WebLinkAboutCity Council Resolution 1964-090VILLAGE OF PLYMOUTH
RESOLUTION NO. 64
A RESOLUTION PROVIDING FOR THE ISSUANCE
AND SALE OF $112,000 SANITARY SEWER BONDS
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 State
Highway No. 55, on the 2nd day of November, 1964, at 7:30
o'clock P. M.
The following members were present: Mayor Staples,
Trustees Curtis, O'Fallon, Clifford and Humphrey; the fol-
lowing members were absent: None.
Trustee ,u :;rr.v introduced the following resolu-
tion and moved its adoption.
'SE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE
OF PLYMOUTH, MINNESOTh , AS FOLLOWS:
1, The Village Council deems it necessary and
expedient to issue the negotiable coupon
Sanitary Sewer Bonds of 1964 of the Village
in the amount of $112,000. Specifications
for such bond issue shall be as set forth
in the following notice of sale and shall
be substantially, the notice of bond sale
to be so published:
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NOTICE OF SALE
$112,000 Sanitary Sewer Bonds of 1964
Village of Plymouth, Minnesota
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 seventh day of December, 1964,
at 7;30 o'clock P. M., Central Standard Time, for the purpose
of receiving and considering sealed bids for the purchase of
$112,000 Sanitary Sewer Bonds of 1964, dated December 1, 1964,
of the village, bearing interest at the rate or rates designated
by the successful bidder, payable December 1, 1965 and semi-
annually thereafter on December 1 and June 1 in each year and
maturing serially on December 1 in the years and amounts as
follows;
1966
$5,000
1976
$5,000
1967
5,000
1977
5,000
1968
5,000
1978
5,000
1969
5,000
1979
5,000
1970
5,000
1980
5,000
1971
5,000
1981
5,000
1972
5,000
1982
8,000
1973
5,000
1983
8,000
1974
5,000
1984
8,000
1975
5,000
1985
6,000
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. Both principal and interest will be payable at any suit-
able bank designated by the purchaser within 24 hours after award.
The village will furnish printed bonds and approving legal opinion
of Messrs. Howard, Petereson, 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 by an unqualified approving
legal opinion and customary final delivery papers, including a
certificate showing absence of litigation. A copy of the approv-
ing legal opinion will be printed on the back of each bond.
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 cer-
tified check, bank draft or cashier's check in the amount of at
least $2,240, payable to the order of the village, to be for-
feited 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
peveent. Each bid may specify additional interest represented
by extra coupons for a period not exceeding one year and in an
amount not exceeding $1,120, and the total Interest rate for any
period not to exceed 0'b.
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 right to refect any and all bids are re-
served.
By Order of the Village Council.
H. T. Johnson
H. T. 3ohnson
Village Clerk
Village of Plymouth
13800 State Highway No. 55
Herbert P. Cellar Minneapolis, Minnesota 55427
Village Attorney
2201 Pirat rational Bank Building
111Anoapolle, Minnesota 5.5402
^V
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 $112,000 over a period of
twenty years beginning in 1966.
3. The Village Clerk shall cause the above
notice of such sale to be given by publica-
tion at least ten days in advance of said sale
in the official newspaper 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 'u_ris , and upon vote
bring taken thereon, the following voted in favor thereof:
Mayor Staples, Trustees Curtis, O'Fallon, Clifford and
Humphrey; the following voted against the same: None;
whereupon said resolution was declared duly passed and
adopted.
STATE OF MINNESOTA )
COUNTY OF HENNEPIN) ss.
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 November 2, 1964, with the original thereof on
file in my office and the same is a full, true and complete
transcript therefrom insofar as the same relates to the sale
of $112,000 Sanitary Sewer Bonds of the village,
WITNESS, My hand officially as such clerk and the cor-
porate seal of the village this 9th clay of November, 1964.
(Seal)
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age Clerk
Village of Plymouth, Minnesota