HomeMy WebLinkAboutCity Council Resolution 1966-045UTPACT or NlNUrzs or 1ETIN4 OF TRX
VILLAGE t OMICIL OF TUN VILLAGE OF PLTNOW11
MMO!P►IN COUNTY, Ylln1ZSMA
Pursuant to due call and notice thereof, a regular meeting
of the Village Council of the Village of Plymouth, Minnesota,
nae duly held at the Village RRII at 13800 State Highsay No. 55
:/,it
an the 43*t day of , 18+68, at 7:30 o'clock P. R., Central
Standard Time.
The following members wore present: Mayor Staples, Trustees
40 O' Fallon, R`uatt, Hagen and Renner and the following members were
absent % Nona:
0 w* 0 t i e e e
`► W 61. , Introduced the followir-j resolution and
0"*d its adaptions
Resolution No. 60.- 1,
A RXI UTION p=11DINO FOR TIM I88UAN(M AND SALs OF
912 rf RW.VXD DT TO$ VILLAGN COMIL OF THR YnJ AOB OF
to PL 11, YIMMBOTA . AS 1"0td OUB
1. The Village Owunci 1 deer it necessary and expedient
to issue the negotiable coupon storm sewer bonds of
1808 of the Village in the amount of $1600000. The
specifications for such bond issm shall be as set
forth, in Us following Notice of bale and shall be,
substantially, the Notice of Bond Bale to be so
published.
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NOTICE OF SALE
$160,000 STORM SEWER BONDS OF 1966
VILLAGE OF PLYMOUTH, MINNESOTA
NOTICE IS HEREBY GIVEN That the Village Council of the
Village of Plymouth, Minnes t will mee the Village Hall in
said village on Monday, the day of Qir, 1966, at 7:30
o'clock P. M., Central Standard Time, for t e purpose of receiving
and considering sealed bids for the purchase of $160,000 Storm
Sewer Bonds of 1966, dated May 1, 1966) of the village, bearing
interest at the rate or rates designated by the successful bidder,
payable May 1, 1967, and semiannually thereafter on November 1
and May 1 in each year and maturing serially on May 1 in the years
and mounts as follows:
1968
$6,000
1973
$8,000
1978
$8,000
1983
$10,000
1969
6,000
1974
8,000
1979
8,000
1984
10,000
1970
6,000
1975
8,000
1980
8,000
1985
10,000
1971
6,000
1976
8,000
1981
8,000
1986
10,000
1972
6,000
1977
8,000
1982
8,000
1987
10,000
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 suitable
bank designated 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, M.,.nneapolis,
Minnesota, both without expense to the purchaser. The bonds will
be delivered to the purchaser within 40 days after the date of sale,
accompanied by an unqualified approving legal opinion and custoiiary
final delivery papers, including a certificate showing absence of
litigation. A copy of the approving legal opinion will be printed
on the back of each bond.
All bids must be in writing, enrlased in a sealed envelope,
be unconditional except as to the above c;:dnion, 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 $3,200, pay-
able to the order of the village, to be forfeited as liquidated
damages in the event the bid is accepted and the bidder fails to
comply therewith. Bidders may state one or more interest rates
10 in multiples of one-quarter or one-tenth of one percent. Each
bid may specify additional interest represented by extra coupons
for a periost not exceeding one year and in an amount not exceeding
$1,600, and the total interest rate for any period not to exceed
6%.
Bidders are also required to state total interest cost
and average rate. No bid for less than par plus accrued interest
from the 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 reject any and all bids are reserved.
BY ORDER OF THE VILLAGE COUNCIL
Paul E. Boog
Village Clerk -Administrator
Village of Plymouth
13800 State Highway No. 55
Minneapolis, Minnesota 55427
Herbert P. Lefler
Village Attorney
2200 First National Bank Building
Minneapolis, Minnesota 55402 _2�
a
$ The Village Council deems it necessary in order to
provide for payment of said beads at maturity to levy
assessments :gin the amount of $160,000 over a period
of twenty years, beginning in 1967.
i
3. The Village Clerk shall cause the ab*ve notice of
such sale to be given by publication at least ton
days is advance of said sale is the official news-
paper of the. Village and is Commercial West, a
financial no paper published in Minneapolis,
Minnesota.
The notion for the adoption of the foregoing resolution wag
duly s.acsonded by -T R k+�'t i L 1" and upon vote
beic taken thereon the following voted in favor thereof- mayor
Stnplen, Trustees 0•1`allon, Aunt, Hagen and Renner
t~ following voted against the same: done; whereupon said
olutioa
was declared duly passed and adopted.
'Tg OF MSA
000" Or llzllWtN ) es,
I, the undorsign*4# being the duly qualified cad acting clerk
of the Village of pi; euth, Minnesota, %oreby certify that 2
have carefully compared the attached and foregoing extract of
minutes of a regular meeting of the Villaso Council of said
Village bold March 21, 1986, with the original tbereof on file
In sy o gloe and tho sass in a full, true and complete transcript
tboreMfrom insofar as the same relates to the sale of *160,000
stars $ov+er goads of the Village for 1966.
r;'J'MEgS, ley hand_ officially as clerk of said village this
clan► of 1988.
Villa" of Plymouth, Minnesota
(seal)
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