Res 67 - 89 Awarding Sale of $320,000 Improvement Bonds of 1967Following discussion of the bids received, Member Calkins
introduced the.following resolution and moved its adaption:
RESOLUTION AWARDING SALE OF 5- y
$320, 000 INnOVF?= BANDS OF 1967
BE IT RESOLVED by the Village Council of the Village of Mendota
Heights, Minnesota, that the highest and best bid for the purchase of $320,000
Improvement Bonds of 1967 of the'Village, dated May 1, 1967, received pursuant to
public advertisement for bids, is that of Dain, Kalman & Co., Inc.
of Minneapolis , 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 following rates per annum:
Maturity Years
1968-1974
1975-1976
1977-1983
1984-1986
Interest Rate
3.7010
3.8010
4.0Qja
4.176
plus extra coupon @ 1. 9% from 8/1/67 to 2/1/68 on all bonds
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.
Me notion for the adoption of the foregoing resolution was duly
seconded by Member Mertensotto , and upon vote being taken thereon, the follow-
ing voted in favor thereof: all yea
and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted.
Member Calkins thereupon introduced the following resolution
and moved its adoption:
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