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228 MINUTES <br />OF THE REGULAR IIEETING OF THE <br />EDINA CITY COUNCIL HELD AT CITY HALL <br />AUGUST 19, 1985 <br />Answering rollcall were Members Bredesen, Kelly, Richards, Turner and Mayor <br />Courtney. <br />EMPLOYEE NEIL JAHR COMMENDED. Mr. Rosland introduced Neil Jahr advising that he <br />has worked for the City since February of 1982 at the York Avenue Liquor Store <br />and is responsible for stocking of all liquor items. Mr. Jahr was commended for <br />his very professional manner in working with customers. Mr. Rosland presented <br />him with a silver pen bearing the Edina Logo. The Council extended their thanks <br />and appreciation to Mr. Jahr. <br />MINUTES of the Regular Meeting of July 15, 1985 and Special Meetings of July 22, <br />1985 were approved as submitted by motion of Member Kelly, seconded by Member <br />Turner. <br />I <br />Ayes: Bredesen, Kelly, Richards, Turner, Courtney <br />Motion carried. <br />AWARD OF BIDS - $12,000,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1985; <br />$1,200,000 GENERAL OBLIGATION GOLF COURSE BONDS, SERIES 1985. The City Clerk <br />presented affidavits showing publication of the Notice of Sale of $12,000,000 <br />General Obligation Tax Increment Bonds, Series 1985 and $1,200,000 General Obli- <br />gation Golf Course Bonds, Series 1985, of the City in The Edina Sun-Current, the <br />official newspaper of the City, and in Commercial West, as required by law and <br />as directed by a resolution of the City.Counci1 adopted July 15, 1985. <br />affidavits were examined, found to comply with the provisions of Minnesota <br />Statutes, Chapter 475 and directed to be filed in the office of the City Clerk. <br />It was reported that two sealed bids had been received by the City prior to- <br />7:OO P.M., Central Daylight Time for the purchase of the Bonds in accordance <br />opened, read and tabulated, and the terms of each have been determined to be as <br />follows : <br />The <br />’ with the Notice of Sale and Terms and Conditions of Sale. The bids have been <br />Bid For Interest Total Interest Cost <br />Name of Bidder Principal Rates -Net Average Rax <br />First National Bank $12,982,200 1988-6.25% $16,347,975 - 8.789% <br />of Einneapolis 1989-6.50 <br />1990-6.75 <br />1991-7.10 <br />1992-7.30 <br />1993-7.60 <br />1994-7.80 <br />1995-8 .OO <br />1996-8.10 <br />1997-8.25 <br />1998-8.40 <br />1999-8.60 <br />2000-8.70 <br />2001-8.80 <br />2002-8.90 <br />2003-8.90 <br />2004-9.00 <br />2005-9.00 <br />2006-9.00 . <br />The First National Bank $12,970,320 1988-6.25% $16,788,963.33 - 9.026324% <br />of Chicago 1989-6.75 <br />1990-7.00 <br />1991-7.30 <br />1992-7.50 <br />1993-7.70 <br />1994-7.90 <br />1995-8.10 <br />1996-8.30 <br />1997-8 - 50 <br />1998-8.70 <br />1999-8.80 <br />2000-8.90 . <br />2001-9.00 <br />2002-9.10 <br />2003-9.20 <br />2004-9.25 <br />2005-9.25 <br />2006-9.25