HomeMy WebLinkAboutCity Council Resolution 1969-1201. The bid of First National Bank of Minneapolis,
Minnesota, to purchase $54,000.00 Sewer Revenue Bonds
of 1969 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
and hereby is accepted, said bid being to purchase bonds bearing
interest as follows:
Maturing Date Interest Rate
May 1, 1972
The Village Treasurer is directed to retain the good faith check of the
successful bidder pending completion of the sale and delivery of the
bond.
The motion for the adoption of the foregoing resolution was
seconded by Councilman Hintz and upon vote being taken
thereon, the following voted in favor thereof: Mayor Hilde, Councilmen
Hintz, Johnson, Kindseth and Humphrey. The following voted against:
None. Whereupon said resolution was declared duly passed and adopted.
Councilman t..►,.,e.,., introduced the following
resolution and moved its adoption:
RESOLUTION NO. 69-120
RESOLUTION FIXING THE FORM AND SPECIFICATIONS FOR
$54,000.00 SEWER REVENUE BONDS OF 1969
DIRECTING THEIR EXECUTION AND DELIVERY
AND PROVIDING FOR THEIR PAYMENT
BE IT RESOLVED by the Village Council of the Village of
Plymouth, Minnesota, as follows:
1. The village shall forthwith issue its negotiable sewer
revenue bond in the principal amount of $54,000.00
dated May 1, 1969, said bond being 1 in number and numbered 1, in
the denomination of $54,000.00, bearing interest as follows:
Maturing Date
May 1, 1972
Interest Rate
2. Both principal and interest shall be payable at Main
Office of First National Bank of Minneapolis, in the
City of Minneapolis, Minnesota, and the village shall pay the reasonable
charges of said bank for its services as paying agent.
3. The bond and interest coupon shall be substantially
as follows:
-2-
4. The Village Clerk -Administrator shall obtain a copy
of the proposed approving legal opinion of Messrs.
Howard, LeFevere, Lefler, Hamilton and Pearson which shall be complete
except as to dating thereof.
5. The bond shall be prepared under the direction of the
Village Clerk -Administrator and shall be executed on
behalf of the village by the manual signature of the Mayor and the
manual signature of the Village Clerk -Administrator, and the corporate
seal of the village shall be affixed. The interest coupon shall be
executed and authenticated by the printed manual signatures of said
Mayor and Village Clerk -Administrator. The said bond, when fully
executed, shall be delivered by the Treasurer to the purchaser thereof
upon receipt of the purchase price, and the said purchaser shall not be
obligated to see to the proper application thereof.
6. The bond issued hereunder shall be payable from the
Sewer Bond Sinking Fund. If any payment of principal
of or interest on said bond shall become due when there is not
sufficient money in said fund to pay the same, the Treasurer shall pay
such principal or interest from the general fund of the village.
7. The officers of the village are hereby authorized and
directed to prepare and furnish to the purchaser of the
bond and to the attorneys approving the same, certified copies of
proceedings and records of the village relating to said bond and to
the financial condition and affairs of the village, and such other
certificates, affidavits and transcripts as may be required to show
the facts within their knowledge, or as shown by the books and records
in their custody and under their control relating to the validity and
marketability of said bond, and such instruments, including any heretofore'
furnished, shall be deemed representations of the village as to the
facts stated therein.
The motion for the adoption of the foregoing resolution was
duly seconded by Councilman Hintz and upon vote
being taken thereon, the following voted in favor thereof: Mayor
Hilde, Councilmen Hintz, Johnson, Kindseth and Humphrey. The following
voted against: None. Whereupon said resolution was declared duly
passed and adopted.
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) ss.
VILLAGE OF PLYMOUTH)
I, the undersigned, being the duly qualified and acting Clerk -
Administrator of the Village of Plymouth, Minnesota, hereby certify
that I have carefully compared the attached and foregoing extract of
minutes of a regular meeting of the Village Council of said village held
May 5, 1969 with the original thereof on file in my office, and the