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P 2/9/57 <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 />) <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