Loading...
Res 70 - 310 Extract of Minutes of Meeting of the Village Council of MH (3/3/1970)iN�1TE5 OF*Et lira �;- OF !HE V i LLAGE COUNC l L OF THE V I LLAGE QF _ ` i EiNbOTA;�F� I.61 S, - 3 i ,QT COUNTY, ijINNESOTA - `'4 Pursuant-to due - ca I l 'Arid notice thereof a regular mutt ng of the- VIII age Councl I of the VI I- l'age of, Mendota Heights; Makota County, ,MI nriasota, • was du ly he$d at the- Counct i Chambers to said V i• 11 agd on Tuesday, the 3rd '.day' of .'March.; 1970 at - .-B:00 o'clock P.M. ; The following members we present c .Radabaugh3 Huber,, $tr"i-nger, Blair, Lockwood ` and the following were absent: ; - I Member s -h p introduced the f 1 IoW Ing resol ut i ora .and moved its, adoptibrkr P8S©Ll1T ION 3-10 A .Resoletlon,Providing Ior the Pub'liic Sala of $180,000 - improvement Bonds. of i970 r ``bE IT RESOLVED ;by tho VI I'lagel"Councl.1 'of the V1.11age of Mendota Heights, Dakota County, FRlnneso;ta as fol loins: 1.-:Th.is C&uncil has heretofore issued $220,000 Tomporar-y'Improvement -Bonds' vf- 196" .dated �d one 1, 1967, maturi nS-yJ uno l ,, 1970 2„ This Councl'l "Is reeuirvd `under the provision of-Chapter 429, .M.S.A. , to- Issue `deftni-fer Improveir*nt bonds for`the purpose of providing funds, whlch,' to- gether-with'funds-on hand;:wiI1 ba.sufticienf to.refund said Temporary Improve- ; ,ment .Bonds and hereby authorize the Issuance of sloo,000 Improvement Bonds; of 1970, for -that .purpose: 3. This. Col ncl l shall meet at:the time and place specified .in the`Form of =_ Ifatl,ce it<ereinaftar ioirtainad for the •purpose of opening and considering sealed. - `b I'd's -'for, and awarding. the -sate of tho $1800000 improvement Bonds . of 1970 of said Villago. 4. :The" Clerk• ts--hereby 'authorized *nd directed to cause notice-6 f the } time, place,and purpoio of said meeting to bo published-in tho.official newspaper- of the ' V I I f ago and i n the Commerc i a i We' sf°, as p rov t dod by law* which not 1 ce shall - be In-substarltlally the following form: :- 'NOTICE OF BOND SALE f 1�0 aoq.,o VILL AGF OF MENDp1'A HE I DAKOTA 'COUNTY., - P+)INNE, SOTA ' 1 MPROVEMENT! BONDS OF ' i 970 _4 Sea l ed.:b i ds; w l i_• 1 be" recel ved 6' ' the Vi I l age Councl f 'of • the Village of 'Mehdota Heights# ,fiinnasata, •ot the Councl I Chambars-1n the.,41 I.loge, .bakaia Coyn'iy,�'Minnesota on Tubsday,• Apr11,:'21:, .197a anti i £3.00°o'clock P,M:, .at' rhl h.time they, wf'11 be P&I I c y' opened and, announced, for the purchase ',of $1.80, 000 Improvement Bonds of. 1970 . of sold Vi. 1..lage,,= for. the purof rovin_onao refund Temprary pcrovement 1967." The-,bonds be dated �at, wt ew©Bonds. of 0 denomi nat i do of ' $1, 000; or $.31:00©., ' $ -'thed I suet I' n, of � b i dder • twho� sha t 1 .des loate denomination w i th- ,I n.• 48 .hours'. of awa - , ,and w i i I •mature. serl.a 1 1V, 66� August , -1 1 n the years and ariounts as fo-I 1 owes 'e; Year Amount Year Amount- 1971'- 197I" ' .. F . $10..000 1979 " $10, 000 . - . .. 1972 10; Q00 ' 1980, t fi, 000 :1973 •10*000)981 10,.000 1974 ,' i '• z s 0.,00 t,. ',. .10j,000, I9: 978Eo;ooO:53ODQ lS,OODl96. 98 , 1977 ! (3;'Oflt3 ° l 985 ) 6 t Qqq. ` 1978: 10, 000 '4, }' • . {, ,.1986 M,000, r. � t ... •., At fi •bonds of aid:;ssisQ"matiirirag In aha. years f98'1 , -1986, lnciusiva,,:are " cal lab te,'at'the o�tl.on of•*he.V,i Hage In- Inverse' order of,jthatr• serial numbers on August:-1 1980,,' and ori .an'y. ;tr�t-ear.est•'_payment �date�ther4f+or,, 'at' a' prl ce of •Oar and accrued _! nterest, p i us: a'prem i um"of° '! of`.�the pat- .fie l U67.l f cal ,ted bdfore August I , '198 and w! tho'ut nremi um' 1 f`, ca! l ed on, or ^after; August, '1 1984; The bonds. 'w i ! ( be 1 slued f n `bear. er farm w l th, the ,.ccWpons z�ttached and w i. l i . , be p�iyab,ifl as fio.both pt`tnciPai: and litter©st-- at any suitable bank .des'Ignated- by' the sgccp5sf 6 l b i 8de3 ,,. x ` - . • = {. -­,Each' b i;d- ambs�k spec.! fy .-1 nmu l t.1 p l-es of • i /4 ' or 1 /l.q "cat I'% a 'rat® 'or urates'.'of ! interest' not i nib' excess of '7% per `annum,- 'w�-1 cK °.1.nterest w I .! i bepayaiil o •°F+ bruary ' 1;'1971' and 'semiannual iyy•theroafter on'Ailgust :f and, February of,' each yee'r. `_.No bas,lc. rate :of-,any,maturity betower than the bas.lc rate carried by any_ of the ..' - pd64 Ing maiuritias.. r ".. tai. ds 'WI I I bo pre,fe'rrod accord 1,,+?.�. to the lowest net interest;, cost ttota I ; OP 1 '1 r ar,�punt bf i interest ppyab I e to the date of stated Matur l`ty , at the 'coupon 'r'ate speci f l ed, ,less tine •amount- ©f any p.reml pm'offered) .. _,, N6o bid of ' i ess than par ane! ,accruod. I nterest; 0 I l bo . carisl der64 -noi-' w 1 'I i _ cobs i doratio'n', tie given to; any - b I d which 1 ch -'p rov't des for'..add i tI ona i, or' "13" coupon °1 nterest in a' tota i amount 1-n'excess ' ' of $1, 800.00. ,. No more than- :cine basic , rate of f-nterest, sha t I be b 1 d for any_ s t ng l e - maturity year. The VIII-age reserves the right to, reject aAy, arid of 1 0108'o to. wo.1Vo .any I nforma l i t.i es and to adjourn the sa l e, I f - de©imed exped'i ent. No ora ( b l ds,.',w i i I be considered, ' " The successful bidder i if be f urn f'shed; without cost,;, the p r 1 heed bonds: and the approving legal op Inion of Dorsay.,'' MargUarf,-Hlindhorst; West and Hall _y to the of fbct that the bonds„ are va•I 1. d - and b i nd t ng' general ' ob l-i gat i ons of the., V ii i l age Legal opinion wl I I be'•printod oil the bonds. The-bonds will tie' del•ivexed_ to the- ''purdi user days from'fhe-0ate cif sal.o-wIthou+,cps-t t6-the `purchaser•°if do11vered-at Mendota- HOights., .Miniieapolts or S. Paul,, Minnesata.> All 04S,must ' be 'ufidon,d i t lona l oxcept as' to l ege.l l ty, • wrh i-ch -ray ; be coed i t i oned''up©rf the op i n f on of `Flie'.af©resaldattorneys and must be, accompanied.by a cashier3s'cheGk, b6nk_draft _ or. cert I f led check i ri 'the. . airtount of '�3, 60C1', OQ pay�b l e - to `tbe `Vi I I age to be _ f orfa I ted > as l I qu i dai-od damages I n , the _--ev©ht the bid 1s accepted .and the bidder •sha.l 1 fa l i 'to, comp`!y the row itb. i - P ' osais shgu•Id'ba -addressed to G.'-A.' Redzabau h"ut:l 1a a Clerk, Mendota op 9;� 9 i Hi lghts,- Minnesota,,; .and enclosed' •I n- a sealed' envelope marked-'-on the, outside,- "Bid s for $180,000.00©v©ment Bonds -of - 197011 ' Bidders ara requested to sub•mit=-comip6fations. of-tdtal net -interest cost . • nd `offective`fiet- interest rate.; which 6omput6tions wi I I not`be considered -'as • part of • the offer. Dated; • March 3, 1970 By, OADEOF, THE- VI LLAGE COUNC14 F . /s/ ,.. �, A...Radabodgh . _ • - :. _• � - Mage Qi er-k FiArthdr i nformat•i on may be � ;oOt I ned 'from-, Shayghnessy •.d Company, I nc... k = 5501 Northw®stern:. Nafi ona t' Bank h3i St,,-Paul, Mlhc ►seta 55101 �.� • .. _ •k •f .'•i..`v ,�{ i• -<4 s - 54x_ _ t s . :_ "�, _ -., ' _ _ , • � _ ''• '- {'fit.. ;,'„itl Ai+,• rR -' - •- • 5 M t 'leach and a l t of • the terms ' end p rov'i s i gns of the. forego t iag No i co are _ Y " hereby adopted as -the-tars: and conditlbns, of saki bonds and of the s,!10,thereof:', Th mo tion for the adoption -of the for+ of ng rosol ufiipp- eras do y seconded , a' • . by membetr and upon yogi" b+ging "taken thereon,! 1 membors_present" VotipO In" favor thereof., Wheroopon. said resatutIon 'was declared duty passed and adoptedY . it • - .. r - • , rr r Fx 4 - + � t - ` - ... R ..t. • -•'" ` .z t._''j . J - - • - `• .,STATE OF MINNESOTA) C3UN'i'Y ©F DAKOTA- 4,' AKOTA 4,' the undersigne0,,; belrig'the duty qualified and acting Clerk of the Vi 11890, of cHeotfdta H61 ghts, - Dakota Crounty, Minnesota_# W HERESY CERT. I FY ;that,',t = baye- care= - . fully compared theattached-dod forogoing sex . _ t of minutes 41th the' oritinni ' u m 1 notes on f i Wand . and of - -record , i n my off_ i•ce; a►id the same, Is f u i I ,` true, and - oos-rect transcript of the ^m i nutos of ar meeti ng of the V i i..i sge Counci I hold on -the date therein l nd i cated insofar as such to l nutos , re l atot6 the ps oposed I ssuarice' and satef $18{},.000.Ap ImprovementBonds of ; 19706,f said -ul i lege. ; WlTN5SS .my hand, as such Clerk Arid the official sirei of said Vl l lago'+hl`s day of 1970. ` ' } ^ £ `•. • _ , 1 • _ .. •+ , ..�Vi i IagoxCrieri� '. - _ * " .. (SEAQ) :t 4 i y + ., •' - t . 1 a .. •r -- _ a T - 9 ^ ` t • t -' ,c . 1. ' , - _ - •.r