Res 69 - 198 Awarding Sale of $265,000 Improvement Bonds of 196811
RESOLUTION NO. 198
Member Mertensotto then introduced the following resolution and moved
its adoption:
RESOLUTION ANARDING SALE OF
$265,000 IMPROVKENT BONDS OF 1968
BE IT RESOLVED by the Village Council of the Village of Mendota Heights,
Minnesota, that the highest and best bid for the purchase of $265,000 Improvement
Bonds of 1968 of the Village, dated December 1, 1968, received pursuant to public
advertisement for bids, is that of American National Bank & Trust Co.
Of St. Paul , Minnesota , and associates, said bid stating a price of
par and accrued interest plus a premium of $ -0- , for bonds to be issued
in accordance with the published notice of sale and to bear interest at the follow-
ing rates per annum:
Maturity Years
4.3
4.7
4.8
4.9
Interest Rate
116 extra 17o 1/25/69 to 2/1/70
69-76
77-82
83-84
85-86
Said bid is hereby accepted, and said bonds are hereby declared to be awarded to
said bidder. The Mayor and Clerk are hereby authorized to execute the contract
for sale of said bonds to said bidder in behalf of the Village, and the good faith
check of said bidder shall be held by the Village pending delivery of and payment
for the bonds. The good faith checks of the other bidders shall be returned to
them by the Clerk.
The motion for the adoption of the foregoing resolution was duly seconded
by Member Huber and upon vote being taken thereon, the following voted
in favor thereof: all yea
and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted.
Member M ertensotto thereupon introduced the following resolution
and moved its adoption: