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HomeMy WebLinkAboutCity Council Resolution 1970-104i Sp: VZLT AM OF FL1Q�lO r•' MI1 3#SCR'A `` - :March pwesuant to dua Mll .,ind notice tlteraof 4a4 spe a ial waiting of the Viliape Coui►ciZ of two Vi'I�agr ` of Ybouth w *held oh. Hatch 30. 1970 at the uilsigmoor; x cesoeaacift— wt 7:30 o'clock g m #a; allo�tir+g ,mks M#se Pont Mayor, 8ilde, _CouACilM44, Utz, �!ohnsgn,. ,x �xdN+sth andalth. Th+e teles►g_ member* wWers abrseAt: btoT j. 4•. Counoilmmn a7,C 013 -tktrodA"d 021cx�taA4 { c„ �;` sesolutioA� a w mow ii:s aeon: -t ' �f 'WS'�f iiDa. 1/0�v Y. A RS30Lt1'f2t1li FRgVi!}ft POt+t` 'PRL ".1080�kI�ICE Am ULE of $2, 405 ,000-: ,19"ITARY _SEAR - BOODS OF x,970 t y .: owtttaatt have bemm ar adl foa Chet Onst7rk�+ts n d ' a sanitary never .cOrmectio t- fritts 04 serer system Of Citi of minne#polis and s s . sac4= Oi facacta provide for the ins alist�eu� t pQres mins as thte tr�totioA o` at lftatiai F k , . .NOM T or yILi YGS QL�•;`Pf. i SO"P11 ASS +SAil�im is 's 3reseiir m+sssaR#,+ P coin' Sanitary >SaMer 'eoacs o 19170" aapvpta4f �d 5 {loO. nr'sw � ,.' ►P 1 = eta SRa ,The ..s�t`! e#c►s� �i . r -ratite=shah' as E .. . -in be 9 # rRP. epti of imu a pbali be `ititi rataitit :ally • Y Not3;tal, of 'Bond Sala toi be so published;-, ' _ 4 r. I hi *do`t Adil .dap further deteza lneB that the VI 11 of the no"" v4mted by iinna�lott#�` Statttss Ssctian 475...6 to issue additional ..: d obi a u nal ekceeding 24 of- the Ambi tt so a -d*`0 tp ! a presenE 3 n- Batt the higher rate of in 01 t ;ami x'ecl - to •ins ltet. bondt: i+aid=: boa+3 :shai l , tie . { asue fi- the totalncit�cipai ,aa+ount �ri403,000" A and ,.iddi may ;bid rust less thanfi�377,b4i3 fasr said issue An]C . s t, r ivod by *ho, village in es0e68 ot_;'S1 r37�,;' shallbe cxadii to 'tlie sinking fund x k f© past 16i' 4ntirast ui first accrng. , aVillage Council deems- it to be necessary, In ordez to pt�paidrt for veyvi6ow,of said bonds at �n►stu ity to levy std Valor** taxoe in the Amount �� f sufficient, to males, sueh .pa sts• oven-a. pet$,:od of years beginning in 1971 The, Village Clark shall cause the above atioe" such Sale. to be, given by publicatiot at •: l lo+kst tern t: t l days in advance of said sale in tha officialnFWspgper' of 4thw Village and In COMmeresiel t Mest.is .f#na�-ic al, is +sP t r .published ler' X-Li mapoi 's, t Tli+d4 abo�tra Motion tis seconded by counai•Taaan Hintz and (A Vonvet i being:: -taken tharedo the 10110i4g v6t44 ink fya re thiireof t " l f1ta , "an iii Ata, Jro_ hnsow, 7 �i ems. The folisering, VOd 'agairuasts Dloae C�. a'T.. 3 Whetsupon I eAJ4 ,resolution was, declared duly pan sa&,-and. - _ a4apted UTH , Or`. l+llt�i EDOTA ) G #iJi�TTl� ,JD i3at+i�4$PIe.. I r atarrai4 bel. tt►e dit�Y' quay led a i acting clatrx ot. t 1�iliag+ of Olyaeouthi rtt#sr�teaotn-kes�ebY eiaer i y ttra}t I na+►w 0, OT a the attiaciieGl `Rand fryi +kxEraot oir< aairlutes iso st _a ciarl maettnq of the" Village Connell of viYlige hald.'►'ch 3g r9�'O, �+ittt tihe stir! gittal tAere�o# onp Elle in i y..aftise � arms ,is aY �aii.. txue .on ccmglpas 'tr.�tsih�5ip n , the csfraaa i7te+sfs►r hie t€si j iee, re late$ ' io prove sli�tq' for tt a isrt� anco anal-rie,:af1►405-,o00 f+et'it nry.Sater Bonds., of 1970. NITNESSr' 3F hand .officially as such Clark aria the" } cc$�porate j4X cf thbil`tage' this e ' day 14f, April, 197111 z I i 1 R t Village of utb01 Minnesota SEAL} . t•: ro NOTICE OF SALE • $1,410,000 PUBLIC IMPROVEMENT BONDS OF 1970 AND $1,405,000 SANITARY SEWER BONDS OF 1970 VILLAGE OF PLYMOUTH, MINNESOTA NOTICE IS HEREBY GIVEN that the Village Council of the Village of Plymouth, Hennepin County, Minnesota will meet at the Village Hall on Tuesday, April 28, 1970, at 7:30 o'clock P.M., C.S.T., to receive, open and consider scaled bids for and award the sale of $1,410,000 Public Improvement Bonds of 1970 of said Village to be issued for the purpose of financing the cost of constructing local water system and sanitary sewer system improvements including street restoration, and $1,405,000 Sanitary Sewer Bonds of 1970 to be issued for the purpose of constructing a sanitary sewer, force main and lift station. Both issues will be general obligations of the Village, payable from unlimited ad valorem taxes. Said bonds will be in the denomination of $1,000 or $5,000, whichever the successful bidder may designate within 48 hours after award of sale, and will bear interest at a rate or rates to be designated by the successful bidder expressed in integral multiples of 1/20 of 1% per annum. The bonds will be dated May 1, 1970, and interest thereon will be payable on May 1 and November 1, commencing on May 1, 1971. Said bonds will mature serially on May 1 in the years and amounts as follows: $1,410,000 PubZia Impnovemen.t $1,405,000 SanitaAy SeweA Bonde Bonde o5 1970 o6 1970 . Year Amount Year Amount Year Amount Year Amount 1972 $70,000 1982 $75,000 1972 $70,000 1982 $75,000 1973 70,000 1983 75,000 1973 70,000 1983 75,000 1974 70,000 1984 75,000 1974 70,000 1984 75,000 1975 75,000 1985 75,000 1975 70,000 1985 75,000 1976 75,000 1986 75,000 1976 75,000 1986 75,000 1977 75,000 1987 75,000 1977 75,000 1987 75,000 1978 75,000 1988 75,000 1978 75,000 1988 75,000 1979 75,000 1989 75,000 1979 75,000 1989 75,000 1980 75,000 1990 75,000 1980 75,000 1990 75,000 1981 75,000 1981 75,000 Bonds maturing in 1981 and later years will be each subject to re- demption and prepayment at the option of the Village on May 1, 1950, and any interest payment date thereafter at 101-1/2 of par plus accrued interest. Principal and interest will be made payable at any suitable bank in the United States designated by the successful bidder within 48 hours after award of sale, subject to approval by the Council, and the Village will pay the reasonable and customary paying agency charges. The Village will furnish without, cost to the purchaser and within 40 days after award of sale the printed and executed bonds, the unqualified approving legal opinion of Fti Messrs. Howard, LeFevere, Lefler, Hamilton and Pearson of Minneapolis, Minnesota, and the usual form of no -litigation certificate. Delivery will be made without cost, to the purchaser at any point in the continental United States. Payment for the bonds must be made in funds immediately available to the Village on the date of delivery. Scaled bids marked "Bid for $2,815,000 Bonds" may be mailed or delivered to the undersigned and must be received prior to the time of said meeting. Oral auction bids or bids for only one of said issues will not be considered. Each bid must be unconditional except as to legality, in which respect bids may be conditioned upon the opinion of the above attorneys, and must be accompanied by a cashier's or certified check or bank draft in the amount of $56,300 payable to the Village Treasurer, to be retained by the Village as liquidated damages if the bid is accepted and the bidder fails to comply therewith. Bids shall state one rate of interest from date of issue to maturity for all bonds having a common maturity date. No rate may be lower than the basic rate applicable to any earlier maturing bond. No rate may exceed 7% per annum. The bid offering the lowest net interest cost (total interest from date of issu, to stated maturities) less any excess of the purchase price over $2,815,000 or plus any amount by which the purchase price is less than $2,815,000 will be deemed the most favorable; however, the net interest rate may not exceed 7% per annum. No bid for less than $2,760,107 plus accrued interest on all bonds from date of issue to date of bond delivery will be considered. The right to waive any informality and the right to reject any and all bids are reserved. Dated April 3, 1970. BY ORDER OF THE VILLAGE C00CIL Dewan B. Barnes Acting Manager Plymouth, Minnesota Further information may be obtained from; JURAN $ MOODY, INC. 114 East Seventh Street St. Paul, Minnesota 55101 612-224-9661