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Res 73 - 22 Extract of Minutes of Meeting of the City Council of MH (4/3/1973)EXTRACT OF MINUTES OF MEETING OF THE VILLAGE COUNCIL OF THE VILLAGE OF MENDOTA HEIGHTS, DAKOTA COUNTY, MINNESOTA Pursuant to due call and notice thereof, regular meeting of the Village Council of the Village of Mendota Heights, Dakota County, Minnesota was duly held in said Village on Tuesday, the 3rd of April 1973 at 8:00 o'clock P.M. The following Members were present: Huber, Lockwood, Gutzmer, Wahl, Lesleben and the following were absent: None Member Gutzmer introduced the following resolution and moved its adoption: r x•�. ,�^^^"^r �_ xEsoLtrriorr�� No. �3-2 � � Resolution Providing for the Public Sale of $1,450,000 Improvement Bonds Series 1973 BE IT RESOLVED by the Village 6ouncil of the Village of Mendota Heights, Dakota County, Minnesota, as follows: 1. This Council has heretofore issued $1,550,000 Temporary Improvement Bonds of 1970 dated June 1, 1970, maturing June, 1973. 2. This Council is required under the provision of Chapter 429, M.S.A. to issue definite improvement bonds for the purpose of providing funds, which, toget�fier with funds on hand, will be sufficient to refund said Temporary Improvement Bonds and hereby authorizes the issuance of $1,450,000 Improvement Bonds Series 1973 for that purpose. 3. This Council shall meet at the time and place specified in the Form of Notice hereinafter contained for the purpose of opening and considering sealed bids for, and awarding the sale of $I,450,000 Improvement Bonds Series 1973 of said Village. 4. The Clerk is hereby authorized and directed to cause notice of the time, place, and purpose of, said meeting to be published in the official newspaper of the Village and in the Commercial West, as provided by law, which notice shall be in substantially the following form: -:s•� �- �: 5. Each and all of the terms and provisions of the foregoing Notice are hereby adopted as the terms and conditions of said bonds and of the sale thereof. The motion for the adoption of the foregoing resolution was duly seconded by memb�r W$hl and upon vote being taken thereon, all members present voted in favor thereof. Whereupon said resolution was declared duly passed and adopted. ,�STATE OF MINNESOTA ) ) ss COUNTY OF DAKOTA ) I, the undersigned, being the duly qualified and acting Clerk of the Village of Mendota Heights, Dakota County, Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of minutes with the original minutes on file and of record in my o�fice, and the same is a full, true, and correct transcript of the minutes of a meeting of the Village Council held on the date therein indicated insofar as such minutes relate to the proposed issuance and sale of $1,4$0,000 Improve= ment Bonds Series 1973 of said Village. . WITTIESS my hand as such Clerk and the official seal of said Village this day of April, I973. � LEGAL NOTICE NOTICE OF BOND SALE j S�Aso,000 - I IMPROVEMENT BONDS SERIES 1973 VILLAGE OF MENDOTA HEIGHTS, MINNESOTA Sealed btds wfll tie -received by the Vfliage Council of the Vlilage of Mendota Heights, Min- nesota, at the Council Chambers fn the Village Hali„2010 South Lexingtan Avenue, Dakota Coun- ty, Minnesota 55119 on,Tuesday, A. °- '•:May 1; 1973i untii 8:00 'P.M.;' at I which, time they will be publiclytopened and' announced, for the purchase � of $1,450,000 Improvement Bonds Series 1973 of ��f said Village, for the'purpose of providing money t_ ,•efund_ Temporary ' Improvement Bonds of The 6onds wfll be dated May 1, 1973, will the. denomination 'of $1,000 or $5,000, at f' tfi� �dtscretion of / bidder (who shall desfgnate � denominatfon witliin, 48 hours of award), and •� , wiil`. mature serially' on August t in the years arid amounts as follows: � ' � Year Amount Year Amount 1975 $70,000 � � 19B4 $90,000 � � a� 1976 90,000,� � 1985 90,000 `� _ 1977 9D,000 r,-�g 19B6* 60,000 � a� 1978 � 90,000 :„ 198�* 50.000 { � i �,1979 ' 90,000 ' � 7988* 80,000 ' z= 1980 ;� 90,000 : 1989* 80,000 ir+�1981 � � 90,000 ?�� 1990* 80,000 � � �-1982'p _ 90,000 � t 1991* 80,000 - • 1983, �: 90,000 .. ,� �� *Bonds maturtng -In 1986 and later years are each sublect. to redemption at the option of the � � Vfllage' in .Inverse order of serial numbers on � August 1; 1985 and any subsequent interest pay- '� � meM� date �at a price of par plus accrued in- .� � terest,� plus::a premium of 1% of the par value + if called �on� or before August •t, 1967, and at a pr(ce of, par plus accrued interest on February 1, 1988 and thereafter. Tlieibonds' will be Issued in bearer form with the coupons':attached and will be payable as to �• both� p'rinctpal and' interest at any suftable bank K desfgnated by the successfui bidder. � Each b(d must specifylfn multiples of �/a or i/10',�of 7% a rete� or rates of interest not fn excess' of 7% per;�annum, which Interest will be payable February 1; 1974 and semi-annually i thereafter on August 1�and February t of each � year.� No rate�,of any'maturfty may be lower than the rate carried by' any of the preceding maturRfes.f, . s' The�bonds of each annual maturity shall bear interest at' a single rate per annum, whfch shall lie unlform from date of issue to maturity, and �shall be represented by a single set of , coupons. No more than 6 different rates may , be specified for the bonds. The bid offerfng the lowest '.net Interest `cost (total interest from date � of ' issue to stated maturities, plus any discount "or+ less any cash�, premium offered) will be.deeined�the most favorable. No bid of less than �§7;435,500 plus accrued fnterest on $1,- 450,000 borids from date '�of fssue to d3te of bond idelivery wlll be consldered. Oral auction bids wfll not be received. The Village Board re- ser,`ves the 'rfght to reject any and all bfds, and to,waive�any informality In,any bid. The successful bidder wili be furnished, with- out cost, the printed bonds and the approving leg`aI opinfon of Dorsey;, Marquart, Windhorst, West & Halladay to the effect that the bonds are ivalid and bindtng general obligatians of the Village. Legal_opinions will be printed on the bo'rids.-,The bonds will be delivered to the pur- chaser,iwithin 40 days from the date of sale witHout/ cost to the purchaser if delivered any- wtiere in the continental United States. Payment b'y,,the purchaser must be in immediately avail- able' funds. 'All , bids must be unconditional ex- cept as to ; legality, which may be canditioned upon the opinlon of the aforesaid attorneys and must be accompanied by a�cashier's check bank draft or certified check fn the amaunt of $29: 000:00 payable to the Village Treasurer to be 1 f�ted as` liquidated damages in the event '� ��id (s �accepted and the bidder shall faii „ , nply„therewith. .' -�oposals� should be addressed to G. M. � Radabaugh'; V(Ilage Clerk, Mendota Heights, Min- nesota and enclosed in, a sealed envelope marked onuthe outsfde, "Bid for $1,450,000 Im• provement Bonds Series 1973." ! Bidders are requested, to submR computations of total net interest!, cost- and effective net in- terest rate, whfch,"computatlons wili not be � corisidered as a part of the offer. Da�ed:' ApPil 3, 1973. � i' �` • BY ORDER',OF THE �� f� VILLAGE COUNGL � /s/ G. M. RADABAUGH ` ` Village;Clerk For further Information, Please Contact: SHAUGHNESSY & COMPANY, Inc. 151 Endicott Arcade St. Paul, Mfnn. 55101 Phone (612) 227-6691 Published fn Commerclal West April 14, 7973 RE'CEIVED �P R 17 i 973 AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA �u. County of Hennepin -� � ....., belny duly sworn, on oath says she Is and during all th� ... ��R''31.'�..�..�i@�i� ............... times herein stated has been tha clerk of the publisher and prfnter of the newspaper known as Commerelal West aMl has full knowledpe of tho facts herein stated as follows: (1) Sald newspaper Is printed In fhs Enylish lanyuape in newspaper format dn column and sheet form equlvalent In printed space to at least 900 aquare dnehes. (2) Said newspaper Is a weekly and is disiributed at least once each week. (3) Said newspaper has 5096 of Its news columns devoted to news of local Interest to the oommunity which it purports to serve and does not wholly dupllcate any other publiwilon and is not made up entirely of patents, plate matter and edverttsements. (4) Sa►d newspaper is eirculated tn and near the munielpality whieh 11 purports to s�rve, has 500 copies regularly delivered to paylnp subscribers, has an averofle of at least 75% of Its totai circulatlon eurrently paid or no more .than fhree months In arrears and has entry as second<lass matter fn tis tocai post-office. (5) Said newspaper has its known office of Issue fn the City whTch it purports To serve, namNy the City of Minneapolfs In the County of Hennepin, which office is estabiished and open duriny Its repular business hours for The patheriny of news, sale of advertisemenis and sale of subscriptions end mainta�ined by tha manaylnp officer of safd newspaper or persons In its empioy and sub�ect to his discretfon and catfirol durinp ail such re�ular busfness hours and devoted exclusively dur(ng such regular bustness hours to ftN business oF the newspaper and business related thereto. (6) Said �ewspaper files a wpy of each tuue Immedlately with the State �N�istorical Soclety. U) Said newspaper has compiled with all the forepoinu condltions for at least two years precedtn9 the date hereof. (8) Said newspaper has filed with the Secretary af State of Minnesota an affidavit fn the form preseribed by ihe Secretary of State and sipned by ihe manaping officer of said newspaper and sworn to bNore a notary pubHc statlnD that the newspaper is a leyal newspaper. She further states on oath that satd CommereFal West Is a wcekly period►eal pubNshed (n Minneapolis, e eity of the flrst elau, and whieh cireulates throuyhout the state and turnishes finenetel news ea part of Ib servacs. She further states on oath fhat the prIMW .1I���,�#3..n�.'..�3�� ................. ..................... heroto attached as a part heraof was cut from fhe coiumna'of sa d newspaper, and was print�d and publlshW tharein un the Enylish ianpuaye Otl SE1WdEy N7E tA�l.d�^a �Y Ot as � a b cdefg h i j kl m n o p q rstuvwxyz abcdefghi jklmnopqrsfuvwxyz Of first eo Subseribed and sworn to befon me ihis ..�,�t��t�3.... day oi �.��,,� ................ 19...r�e;t. • , f* . ' ....... .. ........................... Notary PubI1G �H�n n County, Min�ssofa m MvCommluion ExPTres ...................... 19...... �i. i. �ENSON, NOTARY PIlBLIC COUNTY OF NENNEPIN, STATE dF MIHNESQjA MY COMNIISSION EXPIRES APRIL iBth, 1974 . ��: � � f . " .... "' � . « � No. 0 AFFIDAVIT OF PUBLICATION of the Commercial �est . � ' ._ ' : .,�ti� , , � � . r~= �� - �,T � � . t* " , '[ : •K. ' �r. . '— - _. a : . w « � . �. � . y� d_�Y-� , �`1 :�-�A���~��~� � .w A . __; �� - - - � - r s ��.. 'a�, � . . , � _ s -' M �Ta I I•. �^ iM_ � .