<br />MINUTES OF THE REGULAR MEETING OF THE
<br />EDINA VILLAGE COUNCIL, HELD MONDAY ,
<br />SEPTEMBER 9, 1963, AT THE EDINA VILLAGE
<br />Mehers answering Rollcall were ,MacMillan , Tupa, VanValkenburg and Bredesen.
<br />MINUTES of the Regular Meeting of August 26, 1963, were approved as submitted, by
<br />mot ion VanValkenburg , seconded by Tupa and carried.
<br />$1,000,000.00 TEMPORARY 'IMPROVEMENT BONDS SOLD. The Clerk presented affidavits
<br />showing publication in the official newspaper and the Commercial West of notice
<br />of call for bids on $1,000,000 Temporary Improvement Bonds of the Village, for
<br />which bids were to be received at this meeting in accordance w+th the resolution
<br />adopted by the Council on August 26, 1963, Said affidavits were examined, found
<br />to be in compliance with the provisions of Minnesota Statutes 1961, Chapter 475,
<br />and were approved and ordered placed on file.
<br />to said notice of call for bids, which were thereupon opened and read, and the
<br />highest and best bid of each bidder was found to be as follows:
<br />The Clerk then announced that three sealed bids had been received pursuant I
<br />a2 m
<br />NAME OF BIDDER '
<br />PIPER, JAFFRAY E HOPWOOD,
<br />INTEREST RATE - PREMIUM
<br />MINNEAPOLIS , MINNESOTA- 2.40% $ 52.00
<br />FIRST NATIONAL BANK OF MINNEAPOLIS, MGR.)
<br />FIRST NATIONAL BANK, ST. PAUL 1 2-1/8%
<br />FIRST SOUTHDALE NATIONAL BANK, EDINA
<br />FIRST EDINA NATIONAL BANK, EDINA 1
<br />$ 10.00
<br />THE AMERICAN NATIONAL BANK OF
<br />The interest on said bonds (being the total interest to the stated maturities
<br />less any premium offered) according to the respective bids was then computed and
<br />Member VanValkenburg then introduced the following Resolution and moved its
<br />adopt ion :
<br />ST. PAUL, MINNESOTA 2% $ 30.00
<br />RF;SOLUTION AWARDING SALE OF $1,000,000
<br />* TEMPORARY IMPROVEMENT BONDS
<br />'BE IT RESOLVED by the Village Council of the Village of Edina, Minnesota,
<br />that the bid of THE RMERICAN NATIONAL BANK OF ST. PAUL, MINNESOTA, to purchase
<br />$1,000,000 Temporary Improvement Bonds of this Village, to be dated as of September 13,
<br />1963, and to be issued as specified in the official notice of sale thereof, is hereby
<br />found and declared to be the bid most favorable to the Village received pursuant to
<br />due notice, and should be and is hereby accepted, said bid being to purchase said
<br />bonds at a price of par and accrued interest plus $30.00 premium, bonds maturing in
<br />the year stated below to bear basic interest from date of issue until paid at the
<br />rate per annum set forth below:
<br />Maturity Date Interest Rate
<br />December 13, 1963 2.00%
<br />Th'e Mayor and Clerk are authorized and directed to endorse an acceptance on said
<br />bid and on a copy thereof, and to return such copy to the bidder. The Treasurer
<br />is directed to retain the good faith check of said bidder pending delivery of the
<br />bonds and payment therefor, and the good fai
<br />with returned to them.
<br />ecks of other bidders shall be
<br />The motion for the adoption of the foregoing resolution was seconded by Member
<br />Tupa, and upon vote being taken thereon, the folloying voted in favor thereof:
<br />MacMillan, aye; Tupa, aye; VanValkenburg, aye; and,Bredesen, aye; and the following
<br />voted against the same:
<br />passed and adopted, and was signed by the Mayor and attested by the Clerk.
<br />No Nay Votes, whereupon said resolution was declared duly
<br />After discussion Member VanValkenburg introduced the following resolution and .
<br />moved its adoption:
<br />RESOLUTION DIRECTING THE ISSUANCE OF $1,000,000 TEMPORARY
<br />FOR AND APPROPRIATING SPECIAL ASSESSMENTS AND AD VALOREM
<br />IMPROVEMENT BONDS , CREATING ACCOUNTS THEREFOR AND PROVIDING
<br />TAXES FOR THE PAYMENT THEREOF.
<br />BE IT RESOLVED by the Village Council of the Village of Edina, Minnesota,
<br />as follows: