Laserfiche WebLink
,_ 234 MINUTES <br />OF THE REGULAR NEETING OF THE’ <br />EDINA CIlY COUNCIL HELD AT CITY HALL <br />OCTOBER 5, 1981 <br />Answering rollcall were Members Bredesen, Richards, Schmidt, Turner and Nayor . <br />” Courtney. <br />MINUTES of the Special Meeting of September 14, 1981, were approved as submitted <br />by motion of Member Schmidt, seconded by Member Turner. <br />Ayes: Bredesen, Richards, Schmidt, Turner, Courtney <br />Nays: None <br />Motion carried. I- XINUTES of the Special Meeting of September 17, 1981, were corrected to include <br />the statement, “Member Bredesen stated that he felt the overall personnel services <br />increase of 10.5% was excessive”, by motion of Member Schmidt, seconded by Xember <br />Bredesen. <br />Ayes: Bredesen, Richards, Schmidt, Turner, Courtney <br />Nays: . None <br />Motion carried. <br />YORKTOGT DAY PROCLAIMED. <br />PROCLAMATION <br />WHEREAS, October 19, 1981, is the 200th anniversary of the surrender of Cornwallis <br />at Yorktown, which formally concluded the long and dedicated struggle by our <br />patriotic forefathers for those political, economic, and religious freedoms which <br />have formed the foundations of our prosperity, happiness and unequalled greatness <br />as a nation;and <br />KEEREkS, it is fitting that this dramatic and singular event in our history be <br />celebrated in such a manner as to inspire a love of country and an understanding <br />of the principles upon which our nation was founded; and <br />WEEREAS, a retrospective view of our history instills in us a renewed spirit of <br />dedication to our ideals; <br />NOW, TiXEFOXE, I, C. Wayne Courtney, Mayor of the City of Edina, do hereby <br />proclaim October 19, 1981, to be <br />YORKTOWN DAY <br />in the City of Edina and do urge citizens of Edha to observe this historic <br />celebration and to recognize the spirit of courage and self-sacrifice which <br />animated our patroit ancestors. <br />Mayor Courtney issued the following Proclamation : <br />SALE OF $4,500,000 GEhERAL OBLIGATION TAX INCREMENT BONDS APPROVED. <br />presented affidavits showing publication of the Notice of Sale for the $4,500,000 <br />The City Clerk <br />General Gbligation Tax Increment Bonds, Series of 1981 of the City in the Edina Sun <br />and in Comiiercial Vest, as required by law and as directed by a resolution of the <br />and directed to be filed in the office of the City Clerk. <br />that 2 sealed bids for the $4,500,000 General Obligation Tax Increment Bonds <br />Series 1951 had been received prior to the time designated in the Official Notice <br />of Sale for the opening of bids. Pursuant to the Official Notice of Sale and the <br />bids ~7ere then opened and publicly read and considered, and the terms of each <br />were determined to be as follows: <br />. Council adopted August 31, 1981. The affidavits were examined, found satisfactory <br />The City Clerk reported <br />Total Dollar <br />Bidder <br />Harris Trust and) Joint <br />Savings Bank 1 <br />The First Na- ) <br />tional Bank of ) <br />Chicago 1 <br />Nerrill Lpch ) <br />White Veld 1 <br />Capital Markets) <br />Group 1 <br />Co., Inc. 1 <br />John Ihveen & ) Managers <br />Chemical Bank <br />Reynolds In- <br />corporated. <br />Bache Halsey <br />Stuart Shields <br />Incorporated <br />Bank of Oklahoma <br />N, A. <br />. Dean Witter <br />€rice Interest Rates Interest Cost <br />$4,443,125. 1984 - 9,5G% $3,549,325 <br />.. <br />1985 - 9.50X <br />1986 - 9.70% <br />1987 - 9.852 <br />1988 - 19.00% <br />1989 - 10.20% <br />1990 - 10.40% <br />1991 ,- 10.60% <br />1992 - 10.80% <br />1993 - 11.00% <br />Effective Net Interest Rate - 10.5165%