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NIN UTE S <br />OF THE REGULAR NEETING OF THE <br />.EDINA CITY COUNCIL HELD AT CITY HALL <br />NOVEbIBER 3, 1980 <br />Answering rollcall were members Breaesen, Courtney, Richards, Schmidt and Nayor <br />Van Valkenburg. <br />H.R.A. PfEETING was called to order and adjourned for joint discussion with the <br />City Council in regard to Second Reading of Ordinance No. 811-A136, granting <br />PRD-3 .Planned Residential District zoning for Crossroads Development. Motion for <br />adjournment of the meeting was offered by Commissioner Van Valkenburg, seconded <br />by Commissioner Courtney and unanimously carried. <br />YOUTH APPRECIATION WEEK RESOLUTION ADOPTED. <br />clamation: <br />WHEREAS, the vast majority of the youth are concerned, knowledgeable and respon- <br />sible citizens; and <br />WHEREAS, the accomplishments and achievements of these young citizens deserve <br />WHEREkS , Optimist International has ,. since 1954 , developed and promoted a program <br />entitled Youth Appreciation Week; and <br />WHEREAS, the citizens of the City of Edina have indicated a desire to join with <br />the Optimists in expressing appreciation and approval of the contributions of <br />the youth, I, James Van Valkenburg, Mayor of the City of Edina, therefore pro- <br />claim the second week in November as <br />in the City of Edina. <br />ability of today's youth as they assume responsible roles in the future of man- <br />kind. <br />SALE OF $1,400,000 TEMPORARY IlPROVEHENT BONDS APPROVED. <br />affidavits showing publication in the Edina Sun and in the Commercial Vest of <br />the official notice of sale of $1,400,000 Temporary Improvement Bonds, Series <br />1980, of the City, (hereinafter referred to as the Bonds), bids for which were <br />to be considered at this meeting as provided in resolutions of the City Council- <br />adopted October 6, 1980. <br />file. The City Clerk reported that 3 sealed bids for the purchase of the Bonds <br />had been received at her office at or before the time stated in the notice, and <br />the bids were then opened and publicly read and considered, and were all found <br />to conform to the notice of sale and to be accompanied by the required security, <br />and the premium, interest rate and net interest cost under the terms of each bid <br />were found to be as follows: <br />I The Nayor issued the following pro- <br />RESOLUTION OF APPRECIATION <br />.. recognition and praise of their elders; and <br />.. <br />YOUTH APPRECIATION WEEK <br />By this action, let it be known that we have faith in the <br />The City Clerk presented <br />The affidavits were examined and ordered placed on <br />Bidder Premium Interest Rate Net Interest Cost <br />American National Bank & Trust Co. 80.00 7.35% . 7.3442% <br />First National Bank of Minne- <br />Banc Northwest 10.00 7.60% 7.5992% <br />After consideration of the foregoing bids, Councilman Courtney introduced the <br />following resolution and moved its adoption: <br />apolis , Wnnesota -0- 7.35% 7.35% <br />RESOLUTION RELATING TO $1 , 400,000 TEMPORARY IIPROVEbIENT BONDS, <br />SERIES 1980: AWARDING THE SALE THEREOF AND APPROVING THE <br />OFFICIAL STATEMENT THEMFOR <br />'.-BE IT RESOLVED by the City Council of the City of Edina, Minnesota (the City), <br />as follows: <br />1980, entitled "Resolution Relating to $1,400,000 Temporary Improvement Bonds, <br />Series 1980; Authorizing the Issuance and Sale thereof: (hereinafter referred to <br />as the Sale Resolution), authorized and determined to issue $1,400,000 Temporary <br />Improvement Bonds, Series 1980 (hereinafter referred to as the Bonds) to <br />defray the expenses incurred and estimated to be incurred by the City in con- <br />, structing various improvements previously ordered to be constructed by the City <br />under the provisions of Hinnesota Statutes , Section 429. <br />Notice of sale of the Bonds has been duly published and <br />the Council has publicly received, opened and considered all sealed bids presented <br />in conformity with the notice. <br />be that of American National Bank & Trust Company, ofeSt. Paul, Minnesota, (and <br />associates) to purchase the Bonds at a price of their principal amount and ac- <br />crued interest to the date of delivery, with the Bonds bearing interest at the <br />rate of 7.35% per annum from date of issue until paid, and upon the further teps <br />and conditions set forth in the Sale Resolution. <br />The Mayor and City Manager are hereby author- <br />ized and directed to execute in duplicEte a contract on the part of the City for <br />Section 1. Authorization This Council has by a resolution adopted October 6, . <br />I <br />Section 2. Sale. <br />The most favorable of such bids is ascertained to <br />. <br />Section 3. Contract for Sale. <br />*