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9/9/63 <br />MINUTES OF THE REGULAR MEETING OF THE <br />EDINA VILLAGE COUNCIL, HELD MONDAY , <br />SEPTEMBER 9, 1963, AT THE EDINA VILLAGE <br />HALL <br />Mehers answering Rollcall were ,MacMillan , Tupa, VanValkenburg and Bredesen. <br />1 <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 />. <br />The Clerk then announced that three sealed bids had been received pursuant I <br />cfs <br />4 <br />3 <br />a2 m <br />I <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 />reported. <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: