HomeMy WebLinkAboutCity Council Resolution 1966-211MW
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ESTRICT OF MINUTES OF SPECIAL KEETING OF THE
OJ AGE COUNCIL OF TEE VILLAGE OF PLYMOUTH
IMNWEPIN COUNTT, MINNESOTA
Pursuant to due call and notice thereof, a special meeting
of the Village Council of the 'Tillage of Plymouth, Minnesota, was
duly held at the Village hall at 13800 State Highway No. 55 on
the 28th day of October, 1966, at 7:30 o'clock P. M., Central Daylight
Time.
The following members were present: Mayor Staples, Trustees
Ol Fallon, Hunt, Hagen and Renner; and the following members were
zbap ut : None.
* * *
The Mayor announced that the Council would consider all bids
for the purchase of $270,000 Municipal State -Aid Bonds as advertised
for sale. The Cler=c-Administrator presented affidavits showing
publication of notice of sale more than ten days in advance of sale
in the Minnetonka Herald, the official village newspaper, and in
Commercial Hest, a financial paper published in Minneapolis, Minne-
sota, which affidavits were examined and found to be satisfactory
and ordered placed on file.
The Clerk -Administrator presented the sealed bids which had
been delivered to him prior to the time specified in the notice
of sale, and said bids were opened, examined and found to be
an follows:
NAME OF BIDDER
American National Banc
and Trust Co., St. Paul,
Minnesota
INTEREST RATES
4.30'" 1967-1981
Plus 1.208 on all
bonds from l/l/67
to ll/l/67
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AMOUNT OF BID
$270,000.00
Total Interest
Average Rate
4.4�
0
•
NAME OF BIDDER INTEREST RATS AMOUNT OF BID
John Nuvear and Co. 4.10, 1967-1969 $270,000.00
4.2 5*,Iu 1970-1972
4,40% 1973-1981 Total Interest
Plus 1.50% on all T57,0al.50
bonds from 3/1/67
to 11/1/67 Average Rate
4.493?`_
Piper, Jaffray 4.25% 1967 $270,000.00
& Hopwood 4.30% I`M-1970
4.40% 1^71-1976 Total Interest
4.50% 1977-1981_W3,422.50
Plus 1.50% on a l l
bonds from 26/1/67 Average Rate
to 11/1/67
After due consideration of said 'bids, Mayor Staples intro-
duced the following resolution and moved its adoption:
RESOLUTION 66-:2 It
RESOLUTION AWARDING THE SALE OF $270,000
WMICIPAL STATE -AIA BCXDS
HE IT RESOLVED By the Village Council of the Village of
Plymouth, Minnesota, as follows:
1. The bid of Amerinan National Bank and Trust Co.,
St. Paul, Minnesota, to purchase ;270,000 Municipal
State -Aid Bonds of the village described in the notioe of sale
thereof is hereby found and determined to be the highest and beat
bid received p:irauant to duly advertised notice of sale and shall
be and hereby is accepted, said biJ being to purchase bonds bearing
interest as follows:
Maturitz Dates Interest Rates
i��rr=li
All bonds on this issue 1.20% from 1/1/67 to 11/1/67
The Village Treasurer is directed to retain the Good faith check
of the successful bidder pending completion of the sale and
delivery of the rands, and this Village Clerk -Administrator is
directed to return the checks of the unsuccessful bidders forthwith.
The motion for the adoption of the Zoregoing resolution wan
seconded by Trustee Hunt and upon vote b0 ng taken thereon, the
following voted in savor thereof: Mayor ;Staples, Trustees O'Fallon,
Bunt, Hagen and Renner; and the following voted against the same:
None; whereupon said resolution was declared duly passed and adopted.
s • s * * * *
Mayor Staples introduced the following resolution and
moved its adoption:
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