HomeMy WebLinkAboutCity Council Resolution 1966-093WRACT OF glsF[1Y`i01 OF 14EEE T IM OF THE
V111" COUNCIL OF *r= VILLAGE OF PLYMOUTH,
MMEPIN COMY, Mlht>` 80TA
Pursuant to due call and notice thertaof, a regular meeting
of the Village Council of the Village of Plymouth, Minnesota,
wa>c duly hold at the V .11age Rall at 13600 State Highway No. 55
on the 30th day of .Tune, 1966 at 7:30 o'clock P. M., Central
Day IIght time.
The following nombers were present: Mayor Staples,
Trurtees Ol allon, Mat, Hagen and Renner.
The following members were absent; Nonce.
9ayor Staples introduced the following
resolution am! mowed its adoption:
lution Wo. 46- ,_o,
;+� R°t i t !E +•i: 1+`�' : 1 ° ';l.y' :'il:` 1 " i!" ,:+�
BR lT ABSOLVED BY THE V ILLAGB COUNCIL OF T99 VILLAGE OF
PLYJYK3UrR, KIMMS TA, AS rOLLOWS:
1. The Village Coamell do@= 1% to be Lecass*ry and
expedient to ise w its owtiable ovtb.an public
Jzp"vemant bonds of 190 at the Villab in the
amount of $3#000#000. Ths specifications ter such
bond issue shall be as not forth in the followiza
Noti" of ftlo and shall be, subistantially, the Noti+rae
of Bond Bale to be so publ d:
NOTICE OF SALE
$3,000,000 PUBLIC I "PWWE- v ZNTS BONDS OF 1966
VILLAGE OF PLYMOUTH, MINNESOTA
NOTICE IS HEREBY GIVEN That the Village Council of the Village of
•Plymouth Minnesota, wi11 meet at the Village Hall in said village on
Tuesday, the 12th day of July, 1966, at 7:30 o'clock P. M., Central
Daylight Time, for the purpose of receiving and considering sealed
bids for the purchase of $3,000,000 Public Improvement Bonds of 1966,
dated August 1, 1966, of the village, bearing interest at the rate or
rates designated by the successful bidder, payable August 1, 1967,
and semiannually thereafter on February 1 and August 1 in each year
and maturing serially on August 1 in the years and amounts as follows:
1969
- $95,000
1976
- $100,000
1983
- $110,000
1990
- $110,OOC
1970
- $95,000
1977
- $100,000
1984
- $115,000
1991
- $110,OOC
1£71
- $95,000
1578
- $1051000
1985
- $1151000
1992
- $110,000
1972
- $95,000
1979
- $105,000
1986
- $115,000
1993
- $120,OOC
1973
- $95,000
1980 -
$105,000
1987
- $110,000
1994
- $120,000
174
- $95,000
1981 -
$110,000
1988
- $110,000
1995
- $120,000
1975
- $100,000
1982 -
$110,000
1989
- $110,000
1996
- $120,000
All bonds maturing in 1982 and thereafter may be redeemed on August 1,
1981 or any interest payment date thereafter upon payment of the face
amount of the bond, plus a premium of $10.00 and accrued interest to
date. Selection of all bonds to be so redeemed shall be made in in-
verse numerical order.
The bonds will be general obligations of the village. The village
will furnish printed bonds in the denomination of $1,000 or $5,000
each at the discrection of the successful bidder. Both principal and
interest will be payable at any suitable bank designated by the pur-
chaser 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 by an unqualified
approving legal opinion and customary 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 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 $60,000, pay-
able to the order of the village, to be forfeited as liquidated dam-
ages 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 an amount not exceeding $30,000, 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 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.
Herbert P. Lefler
Village Attorney
2200 First National Bank Building
Winneapolis, Minnesota 55402
BY ORDER OF THE VILLAGE COUNCIL
Paul E. Boog
Village Clerk
Village of Plymouth
13000 State Highway No. 55
Minneapolis, Minnesota
2. The Village Council doom it ueums"T iu order to
provide for the payment of said bolds at maturity
to levy assessments in the asouat of $3►000,000
aver a period of thirty years bsginn" in 1967.
3. The Village Clark eball cause the above notice Of
sash sale to be given n3 publication at least tors
dals in advame at said sale is: the official
At the village and in Commercial Went, a
limnala anospaper publiahad :in Minneapolis,
la=wwta."
The motion for the adoption of the fOregcing resoltatiOu
was duty a wand+ed by r s t ee :: r- n..and upon vote
tag taken thereon t#e following void Ln favor thereof:
Mayor Staples, Trustees O'Fallon, Hunt, gagon and Renner.
The following voted againot the same: Now.
Whereupon said resolution was declared duly passed and
STATS OF HIN1M TiA
CL)TAM or WOMaPIN efc.
V UJ AGS OF PLYWOUrH
I, the u- ruigped, being the duly gawlified and acting
Clark of the Village of Plymouth, Minnesota, hereby osrtity
that I have carefully erect the a'ttaahed and foregoing
extr mt of minutes of a regular meeting of the Villap Council
of hold village held June 20th , 18ds, witg the c riginal
thfltreot an file is my OW104 to a full, true and
**&plate trameript therefrom iaaolar as the ease rolatex to
the issues and sale of $3,000,000 polio is orement hide
of 1086.
;v IT SB , my hand of f to ie 1 ir as each Clerk and the
corporate Beal of the 'V11144 a WA 27th deer of une
Village of Plymouth, KUWm -
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