<br />MINUTES OF THE REGULAR MEETING OF THE EDINA
<br />VILLAGE COUNCIL, HELD MONDAY, DECEMBER 9, 1957,
<br />AT 7:30 P.M., AT THE EDINA VILLAGE HALL.
<br />Members answering Rollcall were Bank, Dickson, Fronk, Tupa and Bredesen.
<br />Minutes of the November 25, 1957 Regular Meeting were approved as submitted, by
<br />motion Dickson, seconded by Fronk and carried.
<br />SALE OF $600,000 TEMPORARY IMPROVEMENT BONDS.
<br />davits of publication of notice of sale of $600,000 Tempmary Improvement Bonds
<br />proposed to be issued for the financing of various sanitary sewer, watermain,
<br />storm sewer , grading and blacktopping improvements as directed by the resolution
<br />adopted November 25, 1957.
<br />and directed to be placed on file in the office of the Clerk.
<br />reported that two sealed bids had been received in her office prior to the time
<br />of this meeting, which bids were thereupon opened and publicly read and con-
<br />sidered, and the highest and best bid of each bidder was found to be as follows:
<br />Name of Bidder Interest Rate or Rates Pr em i um
<br />KALMAN & COMPANY, 1NC.-MANAGER ] 3.009L - Plus Coupons
<br />AMERICAN NATIONAL BANK OF 3T.PAUL)
<br />JURAN & MOODY, INC. ) June 15, 1958 to June 15, $250.00
<br />PAINE, CVEBBER, JACKSON & CURTIS 1 1959.
<br />E. J. PRESCOTT & COMPANY 1 (Av.1nteres-t Rate 3.479)
<br />MOOD ARD - ELWOOD & COMPANY
<br />The Village Clerk presented affi-
<br />Said affidavits were examined and found satisfactory
<br />The Village Clerk
<br />at 1.00% per annum from
<br />FIRST NATIONAL BANK, MINNEAPOLIS )
<br />FIRST NATIONAL BANK, ST.PAUL
<br />NORTHWESTERN NATL BANK, M1NNEAPOLIS)at 2.50% per annum from
<br />ALLISON-WILLIAMS & CO.
<br />J.M. DAIN & CO, MINNEAPOLIS )June 15, 1958. None
<br />PIPER,JAFFRAY & HOPWOD,MINNEAPOLIS)(Av.Interest Rate 3.21667
<br />12.80% - Plus “E” Coupons
<br />MINNEAPOL1S)February 15, 1958 to
<br />MANHEIMER-EGAN,INC*yST.PAUL 1
<br />CALDWELL PHILLIPS CO., ST.PAUL 1
<br />SHAUGHNESSY & CO., ST.PAUL 1 HAROLD E.WOOD & CO., ST.PAUL
<br />FIRST EDINA NATIONAL BANK, EDINA )
<br />FIRST SOUTHDALE NATL. BANK, MPLS. 1
<br />Trustee Bank introduced the following Resolution and moved its adoption:
<br />RESOLUTION AWARDING SALE OF
<br />$600,000 TEMPORARY IMPROVEMENT BONDS
<br />BE IT RESOLVED by the Village Council of the Village of Edina, Minnesota,
<br />that in accordance with instructions of the Council notice has been published of the
<br />sale of $600,000 general obligation Temporary Improvement Bonds to be dated as of
<br />December 15, 1957, and all bids received pursuant to said notice of sale have been
<br />duly opened and considered and the highest and best of such bids is hereby found
<br />and determined to be that of FIRST NATIONAL BANK OF MINNEAPOLIS AND ASSOCIATES
<br />named therein, to purchase said bonds at a price of par and accrued interest, plus
<br />a premium of NO DOLLARS, the bonds to bear interest at the rate of 2.807; per annum
<br />from date of issue until paid, plus additional interest, to be represented by
<br />separate “B“ coupons, at the rate of 2.50% per annum from February 15, 1958 to
<br />June 15, 1958.
<br />to endorse the acceptance of the Village upon duplicate copies of said proposal and
<br />to return a copy thereof to said bidder and to file the original in the office of
<br />said Clerk.
<br />retained by the Village Treasurer pending delivery of the bonds and payment of the
<br />purchase price, and the checks of other bidders shall be returned to them forthwith.
<br />The Mayor and the Village Clerk are hereby authorized and directed
<br />The good faith check furni’shed by said successful bidder shall be
<br />The motion for the adoption of the foregoing resolution was duly seconded by Fronk,
<br />and on rollcall there were five ayes and no nays, as follows:
<br />aye; Fronk, aye; Tupa, aye; and Bredesen, aye;.n d the rekolution was declared duly
<br />ATTEST :
<br />Bank, aye; Dickson,
<br />passed and adopted. : n)
<br />Village Clerk