Res 68 - 155 Extract of Minutes of Meeting of Village Council of MH (5/7/1968)Extract of Minutes of Meeting
of Village Council
Village of Mendota Heights, Dakota County, Minnesota*
Held May 7, 1968
,,� IS �5'
A regular meeting of the Village Council of the Village of Mendota
Heights, Minnesota, was held. at the Village Hall in said Village on May 7,
1968, at 8:00 o'clock P.M.
The following members were present: Huber, Calkins, Stringer,
Mertensotto, and Lockwood,
and the following were absent: none.
The Village Clerk presented to the meeting a suggested form of
notice of sale of $800, 000 Temporary Trunk Sewer Improvement Bonds, Series
B, which was inspected, discussed and ordered placed on file.
- � r
Member Huber introduced the following resolution and moved its
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adoption;.
RESOLUTION FIXING DATE AND OTHER
DETAILS OF PUBLIC SALE OF $800, 000
TEMPORARY TRUNK SEWER IMPROVEMENT
BONDS, SERIES B _ t116�
BE IT RESOLVED by the Village Council of the Village bf Mendota
Heights, Minnesota, as follows;
1. It is hereby found and determined that this Council did on January 31,
1967, hold a hearing on the construction of a sanitary trunk sewer improvement
for the Village, and did on January 31, 1967, duly adopt a resolution ordering the
construction of said improvement; that the Council has duly advertised for bids
for the construction of a portion of said improvement, and has awarded a contract
_� Ff�er_th .cs�z stxuct Qn of,a portion£..said-impzgve-ment~-in..acc-arda-i:,Lce w-4b-such�hi
and that it is necessary and expedient for the Village to offer and sell at this time
its general obligation Temporary Trunk Sever Improvement Bonds, Series B, in
the principal amount of $800, 000, for the purpose of paying a portion of the cost
r•
of said improvement.
Y � ° L. Thies Ccyunci:l shalLomeeyA :the- pillage I-jall inraid Village on the
18th day}' of June, 1968, =at 8:00 P. M. , for the purpose of receiving a2 consider-
_;ing scaled bids for the purchase of said bonds, and awarding the sale thereof.
The- terir, s upon -whin -9&W besnd s hy's`-sUtru c:ud-stuld'-sh-ci l - , foieto
in the notice of sale submitted to this meeting, which is hereby ordered attached
to and incorporated -An the minutes of this meeting by reference.
-IF—{_r .- - The motion for the adoption of the fore eging resolution-- vas duly seconded
by b,ember Calkins, and upon vote being taken thereon, the following voted in
k
NOTICE 0F SALE'
$g00, 000
TEMPORARY TRUNK S: 4' ER INIPROV'Efvff-;NT BONDS, Sr1RI:.•1S B
VILLAG.b OF H.F.-'IGHTS, 1+flNN 7SOTA
NOTICE IS HEREBY GIVEN that the Village Comicil of the Village of
Mundota Heights, Dakota County, Minnesota, will meet in the Village Hall in
said Villa„e on Tuesday, the 18th day of June, 1968, at 8:00 o'clock F. M.,
Central Standard Time, for the purpose of opening and considering sealed bids
for $800, 000. 00 general obligation Temporary Trunk Setiver Improvement Bonds,
s3eries B of the Village, and awarding the sale of the bonds. Said bonds will 1 •�
dated July 1, 1968, will be in the denomination of $5, 000 each or such multiple
of $3, 000 as the purchaser may spsicify, and will bear interest at an additional
rate for a portion of their term to be represented by a separate set of 'B”
coupons, but the amount of all such additional interest may not exceed $8, 000.
/ .All interest will be payable on January 1, 1969, and semiannually thereafter
on July I and January in each year. The bonds will mature on July 1, 1971,
but will be subject to redemption at the option of the Village on July 1, 1970,
or January 1, 1971, at par and accrued interest. The Village will furnish
without cost to the purchaser, within forty days after award of sale, the
printed and executed bonds and the unqualified approving legal opinion of
Messrs. Dorsey, Marquart, Windhorst, West & Halladay, of Minneapolis,
Minnesota. The bonds will be delivered without cost at St. Paul or Minneapolis,
Minnesota, or Chicago, Illinois, or elsewhere at the expense of the purchaser.
Principal of and interest on said bonds may be made payable at any suitable
bank to be designated by the successful bidder- within 48 hours after award of
sale of the bonds.
r
Bids for said issue marked ;Bid for $800, 000. QO Temporary Improve-
ment Bonds" must be delivered or mailed to the undersigned prior to the time
stated above, and may not thereafter be withdrawn. Each bi&must be uncondi-
tional except as to legality, which may be conditioned upon the opinion o£ the
above attorneys, and must be accompanied by a cashier's or certified check
or bank draft in the amount of $16, 000, payable to the Village Treasurer, to
be forfeited as liquidated damages in case the bid be accepted and the bidder
shall fail to comply therewith. Bids will be preferred according to lowest net
interest cost (total interest from date of issue 'to stated maturity, less anv
premium offered). All interest rates shall be expressed in multiples of 1/LO
of 10/4. No oral bid, and no bid of less than par and accrued interest from, date
of issue to date of bond delivery will be considered, and the Council reserves
the right to reject any and all bids, and to waive any informality in any bid.
Dated May 7, 1968
BY ORDER OF THE: VILLAGE COUNCIL
./s/ William Call�ins
V� Villagd' Clerk -
Mendota Heights, Minnesota
- �.-_ �r•:r-ae-•,_---�-'a+.�•—..ai—s �+...zsr.++t. �•+�s sem.- -_
tr r i• t i s i- t 4 �
favor thereof: All Yea
and the following voted against the same: None,
whereupon said resolution was declared duly passed and adopted.
STATE OF MINNESOTA)
ss.
COUNTY OF DAKOTA
1, the undersigned, being the duly qualified and acting Village Clerk
of the Village of Mendota Heights, Minnesota, hereby attest and certify that
11
(1) as such officer, I have the legal custody of the original record
from which the attached and foregoing extract was transcribed;
(2) 1 have carefully compared said extract with said original record;
(3) 1 find said extract to be a true, correct and, complet6Aranscript
A
from the original minutes of a'meeting of the Village Council of
said Village held on the date indicated in said extract, including
any resolutions adopted at such meeting, insofar as they relate
to the issuance of $800, 000 Temporary Trunk Sewer Improve-
ment Bonds, Series B of said Village; and
(4) said meeting was duly held, pursuant to call and notice thereof
as required by law.
I further certify that the notice of bond sale attached to said minutes -
is a true and correct copy of the original notice as the same was presented to and
considered by the members of the Village Council at said meeting.
WITNESS my hand officially as such Clerk and the seal of said Village
thig day qf Mary, 4968. 0,
Village Clerk
(S R A 1,)
Extract of Minutes of Meeting
of Village Council
Village of Mendota Heights, Dakota County, Minnesota
Held, May 7, 1968
A regular meeting of the Village Council of the Village of Mendota
Heights, Minnesota, was held, at the Village Hall in said Village on May 7,
1968, at 8:00 o'clock P.M.
The following members were present: Huber, Calkins, Stringer,
Mertensotto, and. Lockwood,
and, the following -were absent: none.
The -Village Clerk presented. to the meetingY-a suggested, form of
notice of sale of $800, 000 Temporary Trunk Sewer Improvement Bonds, Series
B, which was inspected, discussed and, ordered, placed, on file.
adoption:
Member Huber introduced, the following resolution and moved its
RESOLUTION FIXING DATE AND OTHER
DETAILS OF PUBLIC SALE OF $800, 000
TEMPORARY TRUNK SEWER IMPROVEMENT
BONDS, SERIES B - f/
BE IT RESOLVED by the Village Council of the Village fif Mendota
Heights, Minnesota, as follows:
1. It is hereby found, and, determined, that this Council did, on January 31,
1967, hold, a hearing on the construction of a sanitary trunk sewer improvement
for the Village', and. did, on January 31, 1967, duly adopt a resolution ordering the
construction of said, improvement; that the Council has duly advertised for bids
for the construction of a portion of said, improvement, and, has awarded, a contract
for the construction of a portion of said, improvement in accordance with such bids;
and, that it is necessary and, expedient for the Village to offer and sell at this time
its general obligation Temporary Trunk Sewer Improvement Bonds, Series B, in
the principal amount of $800, 000, for the purpose of paying a portion of the cost
of said, improvement.
2. This Council shall meet at the Village Hall in said, Village on the
18th day of June, 1968, at 8:00 P. M. , for the purpose of receiving and, consider-
ing sealed, bids for the purchase of said bonds, and. awarding the sale thereof.
The terms upon which saidbonds shall -be issued. and,.sold, shall be as set -forth
in the notice of sale submitted, to this meeting, which is hereby ordered, attached,
to and. incorporated, in the minutes of this meeting by reference.'
The motion for the adoption of the foregoing re.solution was duly seconded,
by Member Calkins, and, upon vote being taken thereon, the following voted, in
t
' r~ r•d!. mss. ' _ .. - , '_ C'� fa. �' _y - -. i. � - .F .. ` .:
"'NOTICE OF. SALE
TEMPORARY. TRUNK SEWER 1MPROVEMENT `BdNi7S, _SERIES B'
VILLAGE, OF MEND OTA- HEIGHT$,..MINNESOTA.
NOTICE IS HEREBY 'GIVEN that the Village Council of the >ViI,age of " .
Mendota Heights, -Dakota County, .Minnesota, will meet in the Village'.Hall in.
said Village `on_Tuesday, a the 18th day of, June, -19681 at 8:00 o'clock P. M."•,
:-.<• Central Standard; Time, for .the purpose of opening and.• considering sealed bids
' for $800, 000, 00 general*obliga.tion Temporary Trunk Sewer.Improvement Bonds, '
Series B of the Village,' and awarding the. sale of the' bonds. Said, bonds. will be t
dated July 1; 1968, will be in the denomination of $5, 000 each or such multiple -
yr of $5, 000 as the purchaser may, specify, and. will,bear'interest a..t an additional
rate for a•portion of their term to be represented by a separate get of "B"
` coupons, but.the amount of all .such additional interest not, exceed $8, 000.,
%All interest will be payable on. January 1, 1969,` and. semiannually thereafter
on July'l' and; January in each year. The bonds Will mature on July, 1, f1971,
but will be subject to redemption at the option of the Village on July 1, 1970,
or January 1, ,1971-�'at par and accrued interest. "The Village will furnish
without' cost to'the purchaser, within forty days after award. of- sale, the -
printed and executed bonds and the unqualified approving -legal opinion of
"Messrs; Dorsey, Marquart, Windhorst, West & Halladay, of Minneapolis,
Minnesota.- The bonds will be delivered. without cost at'St. Paul or.Minneapolis, "
` Minnesota, or Chicago, •Illinois, or. -elsewhere at the expense of the purchaser. ,
Principal of and, interest on said bonds may be made payable at any suitable =
bank to be,designgtedby the successful bidder within 48 hours after award of
'sale -of the bonds.
<•' Bid's for said issue marked "Bid for $800, 000, 00 Temporary improve-
ment .Bonds" must, be delivered or mailed 'to the undersignedprior- to the time
stated, above, 'and maynot thereafter be withdrawn... Each bid must be' uncond.i-
tional except as to legality, which 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 $16,"000, payable to the Village Treasurer, to
be forfeited as liquidated, damages in case_the bid be accepted, and the -bidder "
shall fail to comply therewith. Bids will lie preferred according to lowest net ;-.
interest cost -(total interest _from date of issue to stated maturity, less any
premium offered)'. - All interest -rates, shall be expressed in multiples, -of -1•/z0 ,
of 1%. ,No oral .bid, and -no bid of less than. par and.'accrued interest from' elate
of issue to date of bond delivery will be considered, and the Council reserves
' the -right to .reject any _and all bids,, and,
to waive any informality in any bid.
` Dated- May 7,',1968 ;, x
' BY ORDER OF THE VILLAGE COU_ NCIL
'Williams'Calkins.
Village Clerk
°Mendota Heights, Minnesota'
'..r+ - :�-:�'* ° E, „M is ri<, •.Fi. _��st� '?� 'j;"�'ya`- y" .- . ,°,'.i x - 'z , 7n• - ..� ••-.--' -
" 9�' 'S.-..` .'�y,...c�.:.r " ° s',Y ' Tit' _ ,S - i 4 _ } _ `_p � .. , d. � }; • + ..
_ • • ._ •art A.. .i `S •'. '•SY l f ''�' _ - t I y .p,
favor thereof: All Yea
and, the following voted, against the same: None,
whereupon said, resolution was declared. duly passed. and, ad,opted,.
STATE OF MINNESOTA)
ss.
COUNTY OF DAKOTA )
I, the undersigned., being the duly qualified, and, acting Village Clerk
of the Village of Mendota Heights, - Minnesota, hereby attest and, certify that
(1) as such officer, I have the legal custody of the original record,
from. which the attached, and,'foreg'oing extract was transcribed;
(2) I'have carefully compared, 'said extract with said original record,;
(3) I find, said extract to be a true, correct and, complete transcript
from the•original minutes of a meeting of the Village Council of
said, Village held, on the date, indicated, in said, extract, including
any resolutions adopted at such meeting, insofar as they relate
to the issuance of $800, 000 Temporary Trunk Sewer Improve-
ment Bonds, Series B of said, Village; and.
(4) said. meeting was duly held., pursuant to call and, notice thereof
as required by law.
I further certify that the notice of bond. sale attached, to said, minutes
is a true and, correct copy of the original notice as the same was presented, to and,
considered, by the :..members of the Village Council at said, meeting.
WITNESS my hand, officially as such Clerk and, the seal of said Village
this day of May, 1968.
47
Village C erk
(S E A L)