Res 1987 - 88 Extract of Minutes of a Meeting of the City Council of Mendota Heights (8/18/1987)EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
MENDOTA HEIGHTS, MINNESOTA
HELD: August 18, 1987
Pursuant to due call and notice thereof, a regular
meeting of the City Council of the City of Mendota Heights,
Dakota County, Minnesota, was duly held at the City Hall in
said City on Tuesday, the 18th day of August, 1987, at 7:30
o'clock -
RM., for the purpose in part of opening and
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considering bids for, and awarding the sale of, $1,950,000
General Obligation Improvement Bonds of 1987 of the City.
The following members were present:
Mertensotto, Hartmann, Cummins, Blesener
and the following were absent: Witt
The Clerk presented affidavits showing publication
of notice of call for bids on $1,950,000 General Obligation
Improvement Bonds of 1987 of the City, for which bids were to
be received at this meeting, in accordance with the resolution
adopted by the City Council on June 16, 1987. The affidavits
were examined, found to comply with the provisions of
Minnesota Statutes, Chapter 475, and were approved and ordered
placed on file.
The Council then proceeded to receive and open bids
for the sale of the Bonds. The following bids were received:
Bidder Interest Rate Net Interest Cost
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BIDS RECEIVED
CITY OF MENDOTA HEIGHTS
$1,950,000 IMPROVEMENT BONDS OF 1987
ACCOUNT
NORWEST SECURITIES
Minneapolis, Mn.
KIDDER PEABODY INC.
DEAN WITTER REYNOLDS
Chicago, ill.
American National Bank St. Paul
Marquette Bank Minneapolis
Miller Schroeder Securities
FIRST NATIONAL BANK MINNEAPOLIS
FIRST NATIONAL BANK ST. PAUL
Paine Webber
M.H. Novick Co.
Peterson Financial
DAIN BOSWORTH CO.
CRONIN CO.
Minneapolis, Mn.
Miller Securities Co.
Moore Juran Inc.
PIPER JAFFRAY & HOPW000 INC.
Minneapolis, Mn.
A11tcnn Williams Co.
R. W. Baird & Co.
Summit Investment Corp.
SHEARSON LEHMAN BROTHERS
E. F. HUTTON CO.
PRUDENTIAL BACHE SECURITIES
Chicago, I11.
SMITH BARNEY CO.
Chicago, I11.
RATES DISCOUNT $ COST % RATE
4.75% 1989
5 1990
5.25 1991
5.50 1992
5.70 1993
5.90 1994
6.10 1995
6.20 1996
6.40 1997
6.60 1998
6.70 1999
6.80 2000
6.90 2001
7.0 2002
7.10 2003
7.20 2004
19,500.00
1,079,012.50
6.575%
5.75% 1989/93
6 1994 $19,500.00
6.1 1995
6.25 1996
6.40 1997
6.60 1998
6.80 1999
7.00 2000/01
7.10 2002/04
5.75% 1989/93
6 1994
6.10 1995
6.25 1996
6.40 1997
6.70 1998
6.80 1999
6.90 2000
7.00 2001
7.10 2002
7.15 2003
7.20 2004
5.60% 1989
5.80 1990/92
5.90 1993
6 1994
6.10 1995
6.25 1996
6.40 1997
6.60 1998
6.80 1999
7 2000
7.05 2001
7.10 2002
7.15 2003
7.20 2004
5.80% 1989/93
6.00 1994
6.20 1995
6.35 1996
6.50 1997
6.70 1998
6.90 1999
7 2000
7.10 2001
7.20 2002
7.25 2003/04
5.875 1989/92
6 1993
6.20 1994
6.40 1995
6.60 1996
6.75 1997
6.90 1998
7 1999
7.10 2000
7.20 2001
7.25 2002
7.30 2003/04
19,500.00
$1,093,882.50
1,096,190.00
6.665%
6.680%
19,436.50
1,098,196.50
6.692%
19,500.00
1,108,193.75
6.753%
19,394.00
1,130,744.00
6.890%