<br />*.. .-
<br />Menibers ansrering RoSLcaU. vere ’Danens, %pa and Erickson.
<br />!Be acting Village Clerk presented affidaviM shoT.ling publication of not5.ce of
<br />sale of $820,000 general obligation Improvement Bonds proposed to be issued for
<br />the financing of Sanitary Sewer Improvement No, 69, being the diagonal trunk
<br />sewer connecting the northwest area qf the Vsllage with the present outlet of the
<br />municipal sever system through Richfield to the ELmeapolis-St,Paul sewage disposal
<br />system, Said affidavit and the terms of the-bonds as set forth in said notice of
<br />sale were examined and found satisfactory and said affidavit mas directed to be
<br />placed on file in the office of the Village Clerk.
<br />The acting Village Clerk reported the two sealed bids had been received in her
<br />office prior to the the of this meeting, which bids were thereupon opened and pubfjcly read and considered, and the highest and best bid of each bidder was;
<br />found to be as follovs:
<br />NORBWESTEXN NATL, BANK, I-IPIS., .1958-1967 Hatwitis - 2.75% FIRST WTL. BANK, $PI%, AN93 1968-1977 Platurities - 2.W$ None
<br />mocsam (Av, Wb, Rate 0 2.8540634%).
<br />Name of Bidder kteiest Rate or Rates Premium
<br />EoJoPRBCOTT & Coo, m*m AND co”Y, 1963-1967 Haturities = 2.60% None
<br />JuaAN & I.IOODY,
<br />ATDT.NATL,BANK OF ST*PAm
<br />PAINE,VEBBER,JACKSON & - CTJRTIS (Av.Int, Rate - 2.8327%
<br />%pa introduced the follotring resolution and moved its adoption$
<br />_1 .- ” , RESOLUTION APIAFZDING- SA= OF $820,000
<br />I BE IT RESOLTTED by the Village. Council of $he Village of Edina, ELunesok
<br />that in accordance. with, instructions of this Council notice has been- published of
<br />the sale 9f $820,Q00 negotiable coupon general obligation Improvement Bonds to be
<br />1- dated as of Narch. 1, 1955, and all bids received pursuant to said notice of sale
<br />have been duly opened and. considered and the hi@est and besi of sPch bids is
<br />hereby found and de%er&ned to be &at of ’E, J, fieScott & Go. of I-beapol=is,
<br />and associates wed. theyein, to purchase said bpnds at a price of pas and
<br />accrued interest, plus a,premium of 8
<br />years, set fori& below $0 bear- inkrest at the respective ratesrper annum set-
<br />1958-i.962 pkturities - 2.002
<br />1968-1977 Naturities - 2.90%
<br />flus 1.10% on a31 from 9/1/55 to 9/1/56
<br />-.* DPROIWE??T BONDS. .
<br />4- . the bonds m&wing in the
<br />. ”
<br />~ forth opposite said majiurity years: 1ktUri-t;s Years Interest Rates’ -
<br />W-mi@ZGities 2&0%
<br />1963-1967 Haturities. 2.60% -
<br />1968-1977 Haturities- 2*90%“
<br />. 9/&/55 tp 9m6 .
<br />(Avmlht. Rate Y 2*8327%) --
<br />-~ I”
<br />P~LS &.lo$ on all frp c
<br />.The Hayor and the Acting Village Clerk are hpeby authorized ade d&ected to
<br />endorse the acceptance of the Village upon duplicate copies of said proposd.
<br />and to return a copy thereof to said bidder ard to file the original in the
<br />office of said Clerk.
<br />bidder shall be retabed by the VLXLage Teeasurer pending de3jveq of the bonds
<br />and papnt of the purchase price, and the ghecks of other bidders shall be
<br />returned to them forthifitha
<br />by Panens, and on rolkdl, 4h-e were 3 AYES NO
<br />Tupa, aye; and Erickson, aye; rJhereupon said resolut
<br />The good faith check furnished by said successful
<br />Ths.motion for the adoption of the foregoing resolution ~ras duly seconded”
<br />I , and adopted,
<br />Rrpa introduced the following resolution and moved its adoption:
<br />. RESOLUTION CREATING 1955 FIRST SERIES B*PROVEDENT BOND
<br />FUND, BROVJDING FOR ANp KPPROPRXATING SPECZAL ASSIEsSlENTS
<br />- FOR rME SUPPORT AND EIKWIXNmCE pIE3EOF, .AM) D3REC“ING
<br />ISSUANCE OF IWROVENEXX BOWS . .
<br />BE IT RESOLXED by the Council of the Village of Edina, Fmesota, as
<br />f OllOt7S : ~.
<br />This Council has investigated the facts necessary to ascer~in and