HomeMy WebLinkAboutCity Council Resolution 1968-271NOTICE Of SALE
61,057,000 FB�lh1O Iwo i ;f.
VILLAGE OF FL X, UMfMA
3
NOTICE IS IMAEBY GIVEN, that the Village Cecil of the THUP of !1-
Ninnnesota,.will moot at Cho Village Nall in said Villago em 10osday, the
of .Tanuary, 1969, at 7:30 o' clock P.M., for the funme of imccl -rj—
sealed bids for the purchase of $1,057,000 public IstmwKseat •
February 1, 1959, of the Village, bearing interest at the rate or rates designated
by the successful bidder, Payable February 1, 19706 and seminnually dwreafter
an August I and February 1 in each year and maturing serially on FebruM 1 in
the years and amounts as follows;
1971 - $65,000
1972 - $65,000
1973 - $70,000
1974 - $70,000
197S - $70,000
1976 - $20,000
1977 - $22,000
1978 - $25,000
1979 - $25,000
1980 - $25,000
1981 - $25,000
1982 - $25,000
1983 - $25,000
1984 - $2S,000
1985 - $30,000
1986 - $30,000
1987 - $30,000
1988 - $30,000
1989 - $30,000
1990 - $35,000
The bonds maturing in the years 1980 through 1999 will be cdch abject
to redemption and prepayment at the option of the Vlllago on F 1, i979
and on any interest payment date thereafter, in Inverse order of tbair wrial
numbers at a price equal to the principal amount plum accrued Interest to tl
redemption date, plus a prosminam of 21 of the principal may—ml If pvW41d @n or
before August 1, 1989, or at a premium of 1% of the princip@1 amount If prod
on or after February 1, 1989.
The bonds will be general obligations of the Village. Tke Village will
furnish printed bonds in the denomination of $1,000 or $8,000 ftch at the "ties
of the successful bidder, with adjustment for the 1977 maturity. Both principal
and interest will be payable at any suitable boob designated by the purchaser
within 24 hours after sward. The Village will furnish printed batnds and approving
legal opinion of +•tnrsrs. Howard, LeFevore, Lefler, Humr.Ilton 8 Feer. Iffamm-
polis, Minnesota, ivth without expense to the pure -haw, IM bonds w111 IV do=
livered to the iurchaser within forty days after the #to of We, iod
by an mr.juslified .xV; roving legal opinion and cult _ ry final delivery •
Including a cortlx.acato ishowing absence of litigation. A cW of the tl
legal opinion will be printed on the back of each bond.
All bids must be in writing enclosed in s sealed entolope, be uw@iW-
tional except as heroin provided and be loft with the undersigned prior to t%-@
above time, accompanied by a certified check, bora,% draft or ca0for4l €i In to
the amount of at least $21,140 payable to the order of the Village, to be for.
feited as liquidated damages in event the bid to accepted and they bidder fails
to comply tbovowibth.
later atatuzities s611 be les
r ," , taaturltibs>. The bid offering
from'Ifebruary 1,'1969, to Att
a• be -deemed the most fauoiWile.
Zr
:.basjzc rate of. interest from; date of issue to
common matttXity dkJte. #ids may provide that
tea _addyiional interest -evidenced by separate
i`�• mount not exceeding $21,I40. All rates must
s of 1/20 of i1 and'no basic interest rate for
than the basic interest rate for any prior
the lowest net interest cost (total interest
:ad maturities less any premium offered) will
No bid of less than par plus accrued interest to the date of
delivery or providing for a total interest rate on any bond for any period
exceeding 6 per annum will be considered. Oral auction bids will not be
received. The right to waive any informality, to reject any and all bids
and to adjourn the sale are reserved.
BY ORDER OF THE VILLAGE COUNCIL
,F. Gerald G. Splinter
Village Clerk -Administrator
" 13800 State Highway No. 55
Minneapolis, Minnesota
sI'
Further information may be obtained from:
dURAN 6 MOODY, INC.
114 East Seventh Street
St. Paul, Minnesota 55101
Phone: (612)-224-9661
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2. The Village Council deems it ne sary
order to provide for pant of said bonds at maturity
�i to levy assessments in the amount of $1,057,000.0 over
�{ a Wriod of years beginning in 1969.
3. The Village Clerk shall cause the above notice
of such sale to be given by publication at least ten (10)
days in advance of said sale in the official newspaper
of the Village and in Co.-mercial West, a. financial
newspaper published in Minm apolis, Uinnezota."
The above notion was seconded by Cowcilm finer
and upon vote Tieing taken thereon the following voted in favor
thereon: Mayor Hilde, Councilmen O'Fallon, Hagen and Hunt. The
following vested against: Alone.
1'7hereupon said resolution was declared ding passed and
adopted.
STATE or mnr.-T"r SOTA )
COUNTY OF RE,NNE PIN
VILLAGE OF PLYMOUTH )
I, the undersigned, being the duly qualified and acting
Clerk Administrator cf: the 'Village of Plymouth, .11-ILancso:a,
hereby certify that I have carefully comped the attactad and
foregoing extract of minutes of a regular meeting'of the V111aM
Council of said village held December 9, 1968, with the =1g!=1
thereof on file in my office and the same is a full., true and 1
complete transcript therefrom insofar as the saw relates to
providing for the issuance and sale of $1,457,000.00 public
Improvement bonds of 1989.
UIfiA1E89, qty hand officially as such Clerk dministrator
And, he car to seal of the village this day of
1368.
Village of
(goal)