HomeMy WebLinkAboutCity Council Resolution 1966-111NAME OF BIDDER INTEREST RATES
Piper, Jaffray & 4.40% 1969-1976
Hopwood 4.50% 1977-1987
4.60, 1988-1996
Plus additional interest of
1.20% on all bonds from
10/1/66 to 8/1/87
AMOUWr OF BID
$3,000,000
Total Interest
Avers" Sate
`:9.801x_qW—
After due consideration of said bids, Mayor Staples Introduced
the following resolution and moved its adoption;
RESOLUTION NO. 66- ill
RESOLUTION AWARDING THE SALE OF $3,000,000
PUBLIC IMPROVEMENT BONDS OF 1966
BE IT RESOLVED By the Village Council of the Village of
Plymouth, Minnesota, as follows:
1. The bid of John Nuvoon & Co. of Minneapolis, Minnesota,
to purchase $3,000,000 Public Improvement Bonds of 1966
of the village described in the notice of sale thereof is hereby
found and determined to be the highest and best bid received
pursuant to duly advertised -notice of sale and shall be a" hereby
is accepted, said bid being to purchase bonds bearing Interest as
follows;
Maturing Dates
1959-1951
1982-1991
1969-1991
1992-1996
1902-1996
Interest Sates
4.601
1.00% from 9/1/66 to A/1/67
S. 00% from date of bonds
to August 1, 1983
1.00% from August B, 1M
to respective maturities
Tho Village Treasurer is directed to retain the good fatgb aback
of the successful bidder pending completion of the sale and
delivery of the bonds, and the Village Clerk -Administrator is
directed to return the checks of the unsuccessful bidders forth-
with.
The motion for the adoption of the foregoing resolutioa tae
seconded by Trustee Renner and upon vote being taken thereon, the
following voted in favor thereof; Wayor Staples, Trustees
O'Fallon, Hagen and Renner; and th;, following ma 'hire were atw
Trustee Hunt; whereupon said resolution was declared duly passed and
adopted.
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