HomeMy WebLinkAbout19530223_REGULAR2/9/53 65
Nanager 1B.t chell asked for Council approval of salaries tentatively established
for the field men on the RichfLeld-Edina Sanitary Sewer crew, explaining %ha%
the following salaries are Net per BIonth; that no overtime rill be allowed
although men will be expected to work as long as the contractors work each
week:
Bank moved for approvd.. of salaries as scheduled. Hotion seconded by Danens and ~arried.~ - l
lfanager Xitchell reqyested authorityc to, send Ass&. BLdg. Inspector Ray Nyberg to
the Midwest Building Conference in Iowa, with ekpenbes paid. He stzted thart
expenses would be about @W. Bank?s motion, approving Ek. Nybergts tripto
Hidwest Building Conference, was seconded by Child and carried. #.
Detailed report was received from the office, OZL moneys available for, investment.
Child% motion, that funds be invested as recommended, subject to approva3 by
Auditors and excepting those several funds where it'may be possible to call
prepayable bonds, was seconded by Bank and carried.
Child moved for adjourhent, Motion seconded by Danens and carried. Meeting
adjourned at U:55 P.31.
.
bstrurnent Ifan, $450; Inspector, $400; Chainmen, $350; Office 1-Ian, $350.
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, l4IWTBS OF THB FLZGlllXR XEZT7NG OF TH3
EDINA V ILUa COUMCIL, HELD TCOUD&Y,
ITEBRULRY-23, 1953, A'P ?:30 Po&, AT
THE EDINA VlXmX HA&&.
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Befor? the Regular Xeeting was convened an informal meeting of the Council
and the Liquor Commission was had, with the Liquor Commission recommending an
increase of $100 per month in the 'salary of Liquor Store Ifanager EppLey.
4% 730 P.M., the Regula Neeting of the Council was convened, with members
Bredesen, Child, Bank and Ericksm answering Bollcall,
Bank moved' for approval of the Minutes of the Regular Neeting of Nonday,
February 9, 1953, as submitted. Motion seconded by Bredesen and carried.
Nayor Erickson announced that Council would take bids on a Tandem Roller,
pur&ant to &vertisement for Bids appearfig in Edina44orningside Courier
and Construction Bulletin Februzry 5 and 32, 1953.
forhaid advertisements was read by Clerk, approved as to form and ordered * '
placed on file, Snd in accordance therewith, the following sealed bids were publicly opened and read: - BASS BID AUmm
IIlL Ho ZLEGIXR CONf'ANY, ImTWOLIS iW5ZO $6,568.00
RUFFRIDGE- JOHNSON 3XlU 19. GO., "IUWPOLIS
Affidavit of Publication
5; 5€lO .OO GOPI-EZ BQUI€"T SUPPLY GO., MINXEAPOLIS 5, 262.00 5,112.00
The Clerk announced that these had been the only bids received.
tha% bids be referred to Vil3age Engineer for tabulation and report at ne&
meeting. Notion secijnded by Ekedesen and carried. At this time, representa%ives
of two other companies presented copies of bids made and mailed Febmary 20. Some
discussion was had as to including these bids, and CMl$ mova that the following
bids be induded with other bids and tabulated by Village Engineer providing .
said bids, when they arrive, show a postmark not later than February 20. Motion
seconded by Bredesen' and carried.
Child mou'ed
(EI.;ORGE T. RYAN COH?'ANY, "EAPOLIS $5;24OeOO A4 COIG'ANX, 3NC. OF MI". ' 54 55LOO
The mattdr of award of Sand, Gravel and Rock Bids taken February 9, came next
before the Council for wnsideration.
Trustee Darnenst return, was seconded by Bredesen and carried.
Nanager Ifitchell then presented Tabulation of Insurance Bids taken February 9,
recommending that lJoRE(MEN'S CORPENSATION COVERAE be awarded to low bidder,
Hardware Nutuals, at #l,$&94; that COl-mmSm ON lEHImS be awarded to
low bidder, Hardlare Mutuals, at $616.60; that VOLUNTEER FIRiBEN GROUP
ACCIDENT COTERAGE be awarded to First Edina Bank (their bid being equal to
that of David Agency and Marsh & NcLennan, at $164.50); that FIE3 AND EXTENDED
COVENGE-LXQUOR STORE STOCK be awarded to low bidder, David Agency, at $213.&0; that FIRE: ANf) l?XJ!Ei$DBI COVERAGE ON vnr$c;E TCQ1;HOUSE be awarded to second-low
bidder, David-Agency, at $316.58 (their bid being only $.U hi&er than that
of lov~ bidder, Mutual' General. Agency which offers coxrerage in two cmpdes;
and that BURGURY-ROBB3ERY FOR LIQUCR STmX be awarded to low bidder, I.la3.sh 8t
McLemm, at $655.90 (their bid being only 8.02 lower than that of David Agency+ I
Child's motion, that bids be held until
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6 2/23/53
There was considerable discussion by the Council with regard to the avrard of-these
bids, inasmuch as bias were very close in several cases, and inasmuch (2s it has
been C0unci.1~~ po7,icy heretofore to confine coverages to as few companies as possible
for the purpose of securing the best possible service from those fer.r, and at the same
tiqe, to assure continuance of competitive bidding.
Bredesen moved as follows:
1. That Hanager Blitchellts recommendations for award of TDRR@WS COXPBNSATION - INSURANCE AIVD COI.~~JSI~ ON FIXET to Hardware 3iutuals of Stephens Point, ISisconsin,
low biaer, at prdums of. $1,845.9l+ and 8616.60, be accepted.
2. That Ihager I.rttchell*s recommendation for award of i;fffzE AND EXJ!E2JDI%E)
COVEB&E&L?QUOR STOIEE STOCK, to David Agency at premim of 8a3.60, be accepted.
3. That Council'a~rard bid on VOLUNTEEZ FIREEN GROUP ACCIDEHT INSURIWCE,
David Agency, at premiums of $$l.&o50 (3 bids identical), 0655.92 (second-low by 8.02)
and $316.58 (second-low by $.U), unless First Edina State Bank and. I;iarsh & I
XcLennan already have policies with the Village-in which case Volunteer Firemen
Gmup Accident Insurance be awarded to First Edina State Bank, and €hz#ary-Robbery
for Liqor Store be awarded to Ikrsh-l-kLennan,
Hotion wqq semnded by Bank and carried.
The Clerk reported that pursuant to the request of the Richfield Village Council -
and jn accordance with permission infbrnally granted by members of the Edina Council,
the sale of the $S!B,OOO Joint Sewer Improvement Bonds of the Village had been
deferred to Karch 2, 1953 at a special meeting to be held at 8:00 oaclock P.'fI. on
said date, and that notice of sale of such bonds had been published accordingly.
Upon motion duly made, seconded and carried such action was approved, ratified and
confhed and a special, meeting of the-Council was called and d*ected to be held
on Wch 2, 1953, at 8:OU o'clock P.f.I.', for the purpose of receiving, opening and
considering sealed bids for .and awarding %he sa& of said Joint Sewer Improvement
Bonds.
In line, with these thoughts,
BURaY-mBmY FOR EQUO3, STOm, AND FlRFt AND EXT.ENDED COVXR.AGE-TOOLKOUSE, all to
.
.*
The Clerk then presarted affidmits of publication of notice of sale of $80,000
Watenmrks Revenue Bonds of 1953 of the Village; bids for which were to be opened
this datd, in acardancervith the resolution adopted Janucsy 26, 1953, and said
affidavits were examined, approved and directed to be placed on file.
tkn reported that 4- sealed bids had been received pursuant to said published *
notice of sale, which bids were thereupon opened and publicly read zq4 considered,
and the highest,best bid of .each bidder was found to be as follovqz
t or Interest Rate
The Clerk
Name and Address of Bidder
IIamger of Bidding Account or R&es I Premium
$88.00
Bredesen moved for referr& of bids to Village Enginem for tabulat3on in detail
and report at next meeting, &tion seconded by Child and carried. - -------------_---
Later in the evening, the tabulation of bids having been made, Bredessnts motion
rescinding his previous motion for Crelay of report to next meeting, was seconded
by Child and unanimously carried. 'I 1
Trustee Child then introduced the following Resolution and moved its adoption: RESOLUTION AWXRTIING Sp;LF, 03
T.IA!EE?J?O€W .lXGVWUE BONDS OF 1952
BE IT RESOLXED by the Council of the Village of ma,' Ekesota, that
pursmt to advertisement for bids heretofore duly $ubXshed for the purchase of -
$80,000 T.latenmrks Revenue Bonds of 1953 of the Village to be dated Harch I, 1953,-
thiseCouncil &is mnsidered,all bids received and does hereby find and determine
3IAHHElZ4iB-~, II?C. ofoSt. Paul, Uinnesota, to puFchase said bonds at a price of
par knd accrued interest plus a premium of $88.00, those bonds maturing ii.1 the
years specified below to bear interesk at the respective rates per'annum set
bpposite such mturity years: $
that the highest and best of such bids is that of J3AROT;D E, IWD & CO~L f€PrnY AND
Maturity Principal 2/23/53 Interest Naturity Principa,Z bterest 67
c Amount Rate 1 Dates Amount Rate ' Dates (Eszim 35;OOO 2.75% J 1954 $5,000 2*75$ 1961 1955 - 5;OOO 2,755 1962 5po . 2.75% 1956 55000 2e75% 1963 5;OOO 2.75% 1957 5yQOO 2075% 1964 5,000 2.75% 1958 5,000 2.75% 1965 5,000 2, 75% 1959 5,000 2.75% 1966 10,000 2075% 1960 5,000 2075i& 1967 , 10,000 2.75%
f3E IT l?URTHER Rl3SOLQED that the Mayor and Village Clerk are hereby
authorized and directed to enter into a contract v&th said bidder on the part of
the Village for the sale of said bonds upon the terms specified in said bid; that
the good faith cheek furnished by said bidder shall be retained pending delivery
of the bonds and payment of the purchase price, and that the checks of other
bidders sha be forthwith returned to thme
The motion for the adoption of the foregoing resolution was duly seconded
by Bredesen, and on Rollcall there were four ayes and no nays, as follows:
Ekedesen, aye; Child, aye; Bank, aye; and Erickson and the resolution was
duly passed and adopted,
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Trustee Child then introduced tlie following Resolution and moved its adoption=:
RESOLUTION PR0VS)XNG FOR THE
ISSUANCE OF IJATZEWORKS B3VENlE
e BONDS OF 1953 r
BE I" RIBXJBD BY TKE COUNCIL OF THE VII;fAGE OF' XDIMA, 2mSOTA:
1. -- X% is hereby found and determined that the Village has heretofore
acqired pursuant to law ad now owns and operates a municipal waterworks plant
and system 3s a public utility under tlie jurisdiction and control of this CouncL)
and it is necessary that said utility be improved at this time by the instdl-'
ation of a new wate? tank and tower at a cost estimated to be approximately
#80,000, in excess of revenues of said utility now on hand and available 'for
the financing of said improvement; that it is necessary and expedient that
said swh be borrowed by the issuance of the revenue bonds hereinafter described,
payable from the net revenues So be derived from the future operation of said '
utility and any additions and betkrinents thereto; that there' are now outstand-
ing ahd payable from said net revenues $130,000 lfatercuorks Revenue Bonds of
1947, dated July I, 1947, authorized by the resolution adopted July LO, 1947,
entitled Resolution Providing for the Issuance of Waterworks Revenue Bonds
for the Purpose of Providing Noney for the Purchase and Impmvement of the
Waterworks Plant and System," which resolution is by reference incorporated
herein and made a part hereof; that the net revenues of said utility for the
twelve months immediately preceding the date of issuance of the additional
bonds herein authorized are estimated to be substantially more than one and
one-quarter times the average of the annual principal ahd interest require-
ments, for the remainder of the term of- said bonds dated July 1, 194'7, upon
all'of said bonds plus those authorized, wherefor the Village is authorized
to make the bonds herein authorized payable from said net revenues on a parity
with said bonds dated July I., 1947, under the provisions of paragraph 8 of
said resolution; that the bonds herein authorized have been duly advertised
and sold at public sale upon the terns and conditions herein set forth, and
that a11 acts, conditions and things rewired by the Constitution and laws of
the State of Ennesota to be done, to exist, to happen and to be performed
precedent to the issuance and delivery of said bonds have been done, do exjst,
have happened and have been performed in regular and due form, time and
manner as 30 reqired,
2.
Revenue Bonds of 195311 and shd.1 be each in the denomination of $1,000 and in
the aggregate principal. amount of $80,000, nunibered serially from 1 to 80,
inclusive, and dated as of Nmch 1, 1953.
in the amount of $5,000 on-Narch 1 in each of the years 1954 thmugh 1965 and $10,000 on Ifarch 1 in each of the years 1966 and 1967, Bonds nuxibered
1 though 50 shall be payable at their respective t ted maturity d t
without option of prior redemption and prepasment/~~~~~~~~b~~e~h~~ shall throgh be each
Vfllage on Fmch 1, 1963 and any interest payment date thereafrt;er, at / a price of par plus interest accrued to the date of redemption, and in/subject /demptlon to and re-
inverse order of their serial numbers,
prior to the date specified for redemption of any of said bonds the
ViUage Treasurer shall mail notice of the call thereof to the holder,
if berm, and to the bank at which principd and interest are then payable, and said Treasurer shall maintain a record of the names and
addresses of holders of prepayable bonds of said issue, so far as such
The bonds so to be issued shall be designated as the Waterrmrks
Said bonds shall mature serially
Not less than thirty days
/prepayment
, .
2/23/53 information is made available to him, for the purpse of mailing said notices.
The bonds of said issue bearing the serial numbers listed below shall bear
interest at the respective rates per annum set opposite such serid. numbers:
Serial Nuinbers Inte$est Rates 1-80, Inc. 2.75%
58
P
The interest on each and all of said bondd shall be pay&ble September 1, 1953
and sdannudlly tkreafter on Wrch 1 and' Septerriber 1 of each year. Both principal ana interest shall be payable at' NQRTEJESTERN' NATIONAL BANK in
Einneapolis, Rinnesota, and the Village heireby agrees tb pay the reasonable
and customary cbrges of said paying agent for the receipt and disbursement
thereof, and to account for the same as an expense of the operation of said
3. Said bonds and the interest coupons appurtenant thereto shall
be in substantially the following form:
i
utility.
*
NO a
VIIJk4GE OF EDINA
KNCX-1 ALL ~~~~ BY THESE PRESEXTS that the Village of Em, a duly
organized municipal corporation of Hennepin County, 11-ii.nnesota, hereby
achowledges itself to be specially indebted and promises to pay to
bearer, but solely out of the Sinking and Interest Account 09 the Vater-
works Fund, the sum of ONE THOUSAND D0T;LQRS on the 1st day of Harch, 19-
or, if this bond is prepayable as stated below, on a date prior thereto
on which it shall have been duly called for redemption, and to pay in-
terest on said principal sum out of said fund and account from the date"
hereof until said principal sum be paid, or, until this bond, if prepay-
atsle, shall have been duly called for redemption, at the rate of
per annum, payable Septenber 1, 1953 and semiannually thereafter on the
1st day of l.larch and the 1st day of Septanber of each year, interest to
maturity being payable in accordance with and upon presentation and
surrender of the Merest coupons appurtenant hereto. Both principal
TI.To AND THREE Qu- per cent ( 2.75 $1
?
- __ - - and interest are payable at
in any coin or currency of the United States of America which on the NORT€EJESD.WJ IQATIO;-;IAL BANK in E*mAPoLIs, I*mamOlilA J
respe&Sve Cates of pawent is legal tender for public and: private debts.
$80,000, all of like date and tenor except as to serial number, maturity date,-
and redemption privilege, issued for the purpose of providing moneys for the
-improvement of the rvatemmrks plant and system owned and operated by said
Village _as a public utility, by the installation of a new water tank and tower,
and is issued pursuant to and in flxzl conformity with the Constitubion and laws
of thj State bf IEnhesota and the ordinances of said Village thereunto enablLhg,
and pursuant to resolutions heretofore duly- adopted by the Village Council,
including a resolution dated February 23, 1953, entitled ltResolution Providing
Tor the Issuance of fiatenmrks Bevenue Bonds of 1953."'
,
This bond is one of an issue in the total principal mount of
Bonds of this issue bearing serial numbers 1 through 50 are payable at
their respective stated maturity dates wikhout option of prior payment. Bonds
of said issue bearing serial numbers 51'through 80 are each hbject to redaption
and prepavment, in inverse order of serial numbers, on &rch 1, 1963 and on any . interest paymat date thereafter, at a price of par and accrued interest. The
Village will mail notice of call of any bonds thirty days przr to the date
specified for redemption thereof to the bank at which principal and in-berest
are then payable'and to the holder, if known. Holders of prepayable bonds
desiring $0 receive such notice may register their names and addresses and the
serid. numbers of their bonds with the Village Treasurer.
conditions and things required by the Constitution and laws of the State of
Ennesota to be dpne, to exist, to happen and to be performed precedent to
and in the issuance of this bond, in order to nake it a valid and binding
specid obligation of the Village according to its terms, have been done,
do exist, have happened and have been perfornied in due time, form and manner
as so required; that the Village has pledged and appropriated to the Sinking'
and Interest 'Accoqnt and Reserve Account heretofore created T.rithin its Water-
works Fund, out of the net revenues to be derived from the operation of said
utility, including all future additions thereto and bettemnts thereof,
C
lflt Is HEREBY Q&TIJ?m>, MCITED, COVENUW AND AGREED th& all acts,
.
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periodic papnents to be made at 2/23/53 times and in amounts required to pay3 when 69
due, the principal of and interest on this bond, and aU. other obligations *
payable from said accounts,’ and tb maintain a reserve securing said naments;
that it will at all times maintain r&es and charges for all servicis,- ‘
facilities, products and by-products of said utilkty sufficient to produce
gross revenues adequate to pay all current, reasonable and necessary costs
of operation and maintenance of said utility, and to produce excess or net
revenue in amounts and at tines sufficient toemeet the requirements of said
Sinking and Interest and Reserve kccounts; that in and by said authorizing
resolution the VSlage has made and entered into further covenants forthe
security of the holders from time to time of the bonds of this issue, each
c
and all of vJhich*Will be fully and pmmptly performed by the Village-and its
offic_ers and agents; and khat the issuance of this bond did not cause the
or s t atut ory limit at ion. 1 indebtedness, general or special, of the Village to exceed any constitutional
liRT WEmSS IlIiEBBOF the Village of ’Edina, Hennepin County, Ybesotk,
by its Village Council, has caused this bond to be executed in its behalf by
the signature of its Nayor, attested by the Village Clerk, and the corporate
seal of the Villageeto be affixed hereto, and has au0 this bond to be
dated as of WdZ 1, 1953. @.W,. ,M
&or t I Attest
(coupon om)
NO
- or]. the 1st day of March (September),-19-, the Village of Edina,
Hennepin County, E4innesotai will pay to bearer, out of the special. account
and Tund defined in the bond to w‘nich this coupon appertains, the sum of
DOLLARS lawful money of the Ugted States of America at _.
in Y
for interest then due on its Waterworks Revenue Bond, No. .
(Facsimile signature)
(Facsimile signature) Nayor
Village Clerk
. (coupons
clause:
earlier
4. Said
numbered 21 and upwards shall also contain the
redemption” . )
bonds shall be forthpdth prepared for execution under the
WiLess the bond described below is called for
-- direction of the Village CIe& and shall be executed-on behalf of the Village
by tk signatme of the Xqyor, attested-by the Clerk, and the corporate seal
of the ViUage shall be affixed thereto, and the appurtenant interest coupons
shall be executed and authenticated by the printGd, engraved or lithographed
facsimile signatures of said officers. When so executed and authenticated, + the bonds shall be delivered by the Village Treasurer to the purchaser
thereof, upon payment of the purchase price heretofore agreed upon, and the
purchaser shall. not be obligated to see to the‘application thereof.
50 The Village hereby covenants and agrees with and for the
security of the holders from time to time of each and a31 of the bonds herein authorized that until the full papat of such bonds and the -
hterest thereon it m ill conthue to maintain its Waterworks Fund and
the separate accounts-therein, in accordance with the provisions of said
resolution of July 10, 1947 and with the further provisions set forth
below, viz.:
5.1 The proceeds of said bonds, except ‘premium and accrued”interest,
shall be paid Sn”c0 the Capital Expenditure ikccount of said fund and applied.
solely to the payment of such items as, by sound accounting practices, con- stitute capital expenditures- for tihe improvement of said utility as des- *
cribed in paragraph1 hereof, pmdded that any amount in excess of re-
quirments for said purpose afber completion of said impmvenent shall
be transferred to the Sinking and Interest J.Jccount, and saLd premium and
acerued interest shall also be credited to the Sinking and Irrterest-&ccount.
ducts, and by-products of said utility, and of any future additions thereto
or betterments thereof, shall be credited to the Unappropriated Eardgs:
Account of such fund, and from said account shall be paid all but only
such items as by accepted accounting practices constitute noma, reason-
able and current costs of operation and maintenance of said&ility, and the
gross revenues fmm time to time received in said acmunt in excess of sum
reqared to make current and prompt payment of such costs den due and to
maintain a reasonaae reserve therefor are herein t emed ‘!net revenues*f8
c
F
5.2 All income and receipts in respect of service, facilities, pro-
2/23/53
5.3 The= shall be credited quarterly to the Sinking and Interest Account
1 of said fund, on or before the first day of Narch, June, September and Decmbep in each year, out of said net revenues, a sum not less tharfone-quarter of the momt
required to pay prindpd and interest due on the bonds issued hereunder and any
other obligations payable from said account during the then ne& ensuing tvrelve
months. IJoneys in said account shall be used only to pay such principal and interest as the same shall become due.<
5.4 BJ1 of the remaining net revenues shall be credited to the Reserve Account of sdd fund until the bdLance therein shall be at least equal to the
sum of the principd. and interest payments due on all bonds payable fra tha
Sinking and Interest Account during the tgan ensuing twelve months. I.loneys in the Reserve Account shall be used only for the payment of maturing principal and
interest on said bonds when monegs in the Sinking and Interest Acmunt are in-
sufficient, and if ever so used said reserve shdlcbe restored to the above
stated amount out of the next net revenues thereafter received.
requirements shall be paid into the Surplus Account of said fund, and moneys in
said account may be used to pay for extensions, improvements; replacements and
additions to the utility, or mv be used to prepay bonds'pa;pable from the Sinking
and Interest Account as and whan the sane become redeemable according to their
tews, or my be pledged to the payment of junior 3ia bonds issued as hereinafter
pmvided, and a separate account or accounts may be established to segregate
surplus net revenues so appmpriated and pledged; but no moneys accruing to said
Surplus Account shal be used for any other purpose or transferred to any other
find of the Village until all bonds payable from the Sinking and Interest Account
shall have been fully pid. .
5.6. The lratemmrks Fund and the separate sub-funds or accounts therein
shdu be maintained on the books of the Village separate and apart from dll
other funds. The moneys pertaining to said fund shall be deposited in one or more banking accounts with a duly qualified depository bank or banks, but such -
accounts need not be separate from o%her bank acamnts of the Village; provided
that any honeys in said find not -immetEately required for operation and main-
tenance and debt service mqy be invested under direction* of the Village Council
in ganeral obligations of the United States of kdnerica or the Village of Edina,
or in the bonds or" the Village pagable from the Sinking and Interest Account.
Reserve Account and Surplus Account are at any time insufficient for the papent
in full of interest &ccrue"d ana principal payable on all outstanding bonds payable
from the Sinking and Interest Account, such moneys shall be applied first to the
payment of said accrued interest, and any remainder shall be applied in payment
of said outstanding bods, the earliest maturing bonds to be paid first, prodded
that the moneys available for payment of bonds due on the same date shall be
prorated equally among all bods payable on said date, The Village reserves the
right of issuing refunding revenue bonds for the purpose of refunding any such
matured bonds for the payment of which moneys on hand are insufficient, which
refunding bonds may be made pyable from the S-g and Interest Account on a
parity as to interest with other bnds payable from said account, but shall
mature subsequent to the laBest maturity of the bonds which are outstanding and
payable from said account at the time of such refunding.
shall be deemed to require th6 holder of any revenue .bond to accept a refunding
revenue bond in exchange therefor.
5.8 The Yillage reserves %he right and privilege of issuing additional
revenue%onds, payable as to both principal and interest from the Sinkina and
Interest Bcmunt on a parity wtth but not superior to the lien and charge in favor of the bonds issued herewxier, but only on the conditions that such -
additional bon& are needed to pay for necessary improvements to or extensions
of said utility, and that the net revenues of said utility as herein defined,
for the period of twelve months next preceding the issuance of such additional
bonds, shall have been in an amount at least one and one-quaX'ter times the
average of the annual amounts of principal and interest pagable upon dl1 then
outstanding bonds payable from the Sinking and Interest kccount plus the addi-
tional. bonds so to be issued, computed for the remainder of tihe term of said
I
5.5 A31 net revenues from the to time received in excess of the foregoing
I
5.7 In the event that the moneys in the Sinking and Interest Account,
However, nothing herein
outstanding bonds. 5.9' The Village will not at any time issue or incur any ouigations payable
from the ne% revenues of said utility except as provided in parts 5.7 and 5.8
hreof, Webs the lien of such obligations upon said net revenues is eqressly
made junior-and subordinate to the lien on such revenues in favor of all bonds
payable fromthe Sinking and Interest Account.
5.10 The Village uriU continue to oprate said waterworks plant and system
as a revenue producing u"L;illty and v&U. cause the same to be maintained in a
good ad_efficgent operating condition and free from all liens upn the physical
properties thereof, and irill not sell or otherwise dispose of any part thereof
unless the same be replaced by some other part of equd utility, and-vr5.U not
authorize or enfranchise any other utility to furnish water supply and service
to any premises capable of service bytha municipal utility.
I
2/23/53 61 5.U The Village will at all times fix, maintain and coUect rates and -charges for all services, facilities, products and by-products of the &mty
furnished to the,Village and its inhabitants andeal1 other customers such
that the net revehues received therefromvfllbe at least sufficient to meet
all requirements of the Sinking and Interest Account; and the Reserve Account* as above set forth; and no free service will be given, and the VUlage will
include in its budget and pay currently and promptly the reasonablwcost and
value of all service furnished to the Village.
~ 5.12 It -will cause proper books and records of account to be kept, in * which true and correct entries trill be made of aLz water charges intposed and
all collections and receipts therefrom, and showing the' application thereof
and aU ewenditures from the Waterworks Fund. Such books shall be audited
annuably by the public examSner or other competent public accountant, Said books of. account shall be open to inspection and copying by any bondholder
or his agent. or attorney, and the Village Clerk shall upon request furnish
certified copies of any portion thereof $6 such bondholder, agent or attorney,
upon wment of a reasonable fee therefor.
5.13 It till pmcure and keep in force insurance on the vjatemrks plant and machinery and equipment therein against loss or damage by fire, tornado,
vrindstonn and all other causes customarily insured against for like properties,
and tKLl procure and keep in force suitable-fidelity bonds covering employees
in charge of said utility, such policies and bonds to be given by insu$ers h
good standing and in such amounts as the Village Council shall determine to
be adeqate to protect the Village and the holders of all revenue bonds from
loss due to any such- casualty, and in the event of any such loss the proceeds
of such insurance or fidelity bonds shall be used to make good such loss or
to replace or restore the utility,
ling additions and extensions of water dns by appivpriate special improuen
ment proceedings, resulting in the levy of special assessments 'against .property
benefited by such additions or extensions, and in such case the proceeds of
such special assessments may be used to pay for such improvanent or to pay
bonds or other obligations +issued to finance such improvement; provided that,
if such improvements are financed from surplus net revenues of the util;ity,
special assessments levied therefor -shall be credited and paid into the
Surplus Account, or if such improvements are financed by the issuance of
revenue bonds payable from the Sinking and Interest Account, special
assessments levied therefor shall be paid into the Sinking and Interest
bccdunt; but collections of .special assessments shall not be included in the net revenues of the utility within the meaning of part 5.8 hereof. .
5.,15 +Each and a,ll of the foregping providions of this resolution&bh
in any wise tend to secure or assure prompt and full papnent of the principal
of and interest on bonds issued in accordance herewith will be promptly and
fully perfonned and carried out by the Village and its officers and agentsr 5.16 The holders of twenty per cent or mope in aggregate principal
amount of revenue bonds of the issue herein authorized r.rhich are at any
time .outstanding may, either at law or in eq~ty, by suit, action, mandamus
or other proceedings, pmtect and enforce the.rights of all holders of such
bonds or enforce and compel the performance of any and all of the covenants
and duties herein specified to be performed by the Village'or its officers
or agents, including the fixing and maintaining of rates and charges and the
collection and pmper segretation sf revenues and the application: and use
there&. The officers of the Village are-hereby authorized and directed
to prepare and.furnish to the purchaser of the bonds herein authorized and to the attorneys approvtng the legality thereof, certified copies of all
resolutions, o$&nances and other acts and proceedings of the Village
relating to'the issuance of said bonds and the provision of funds for
the pa;yment thereof, and all such other certificates and affidavits as
to facts shown by.the records of the Village or facts otherwise knovm
to them as may reasonably be-rewired to evidence-the vailidity or
marketability of the bonds herein authorized; and all such certified
f
.
5.U Nothing herein shall be deemed to prevent the Village from instal-
6,
,,
copies, cedificates and affidavits shall be
of the Tillage of Edina as to the correctness
Itayor . fC 'I
contained.
-.
The motion for the adoption of said Resolutfon WilS duly seconded bY Bredesen,
and on Rollc&J. there were four ayes and no
Child, aye; Bank, aye; and Erickson, aye-; 2nd
duly pass'ed and adopted.
ATTEST: XayoY
llage Clerk
2/23/53
Continuation of December 8, 1952 Public Hearing on proposed Ckading and Gravell-
ing of Oxford Avenue betveen W.5lst and TL52nd Streets vras'had. Ihager Hitchell:
reported that nothing further has been heard of the neighbors' proposktion that
Nr. A,G. Bogen move a house, to accomplish a reduction' of the steep grade, Childts
motion that*Hearing b continued to Begular l-leeting of April. 13, 1953, for fiwther
Mornation, was seconded by 'Bank and carried,
t f.Lr0 Smisek appeared before the Council 0nce:agai.q to request the rezoning to
Comuunitk Store District of the corner of State Highway No. 5 and Cahil3. Road.
The Flanning Commissionts recommendztion.againinst such rezoning was read, and vas
discussed r.rith petitioner, rho zras asked to bring in a detailed plan for the
building hg wpects to construct. I&. Smisek demurred at this suggestion,
explakiq that he intends to construct a concrete block building to be used as
a garage, and can see no purpose in submitting a detailed plan. Bredesen moved
for acceptance of Planning Co&ssion*s recommendation against rezoning of the
Smisek property to Community Store.
Attprney HosI;ler Brown appeared dth his client, James HcNellis, to inquire the
reason for the Councilts February 9th action in awarding Garbage Collection
Contract to Arthur Et. Petersen at $.So per dwelling per month, whereas E&.
I-IcNellist bid was 8.10 per dvdling per month lower, ,After ascertaining that
the majority of the Council is opposed to compulsory rubbish collection, I&.
f.TcNellis withdrew his objections, explaining that his bid was made primarily
on the premise that he vould be allotred to collect garbage-food and beverage
containers at a bid rate of $1.10 per month; that he is not interested in *
collection of garbage only at his bid figure af 0.70 per dwelling per month.
Xr.43. Go Stow presented plan for proposed pumphouse in Brookview Heights First
Addition. Childts motion, that plan be accepted subject to fU1 approval of
3uilding Inspector TTeehler, was seconded by Bredesen and carried.
Uotion seconded by Child and carried.
-c
Er. Stow made inquiry as to the present status of I&. Arleigh Smith, his utilities
engipeer, in the Laying out of the presently proposed water s.ystem--vrhich differs
sonewhat from that laid out last year by Ibk. Smith on authority of the Counc5.3..
Tillage Engineer Ifitchell explained that the Village engineering force was much
too busy last year, .to make the required plans for E4??. Stow; that he (I&. Etchell)
had recommended the =plopart of Nr, Smith for the-purpose cited; that 14~. Smith
has requested $l,OOO for services already performed, which, 5.n I&?. I-Etchell's
opinion, -is high; $hat the Village force is now available for present plans .and
specifications. ISr. Stow suggested that Hr. Nitchell consult with E?. Seth 4n
an attempt to secure an agreement on price for services performed.
motion, that Village Xngineer take over engineering vork for Brookvietr Heights
watepnain at this time, inasmuch as this will. be a special assessment project,
vas seconded by Bank and carried.
Hessrs. Peterson, EWker, and Uerring, residents of School pistrict fJ0. 16, made
a plea for the Council to negotiate with the Southdale Center people for %heir
vrithdrawd. from the Richfield Schiiol District in which they are now located, and
their transfer to the presently-to-be-consolidated School District 16 & 17.
They stated, as one point in favor of such transfer, the fact that Richfield has
no high school and is not likely to have one in the near future.
with interest, and informed petitioners that it is believed no leg& action can
be taken to force such a transfer.
ChiZdts
Councsf. listened
"'J .
Ifr. Russell Iiund requested some.action on his pmposal of January 12, for parking
along the Vest side of Halifax Avenue, etc. planning Commission's recommendation:
of February U, stating that in the opinion of Commission, 3ir. Zundts plan would
complicate rather than ease the bad 50th Street parking problem, vas read;
recomeadation also offering suggestions as to change of plan. Counc3.l discussed
these recommendations with I&. Iiund at some length, during which discussion it
was suggested that First Edina Bank-move West of Halifax and leave its 714% Street
property open for pzrking purposes. Hr. Oredson of the Bank seemed to be agreeable
to this proposal. IIr. Lund was asked to bring in a new plan, locating the bank
T-Jest of Halifax Avenue and showing Townes Road cut through.
I&. S.S. Thorpe, Jr., representingthe Vestry of St. Stephens i3piscopdl Church,
requested that the Council allo.r.rthe Church to use approximately 150*~200t of the
ViUage-owned property at the Southwest corner of ITooddale and TL50th Street for
parking purposes; the Church to pay for suitable grading, surfacing, and.the
landscaping necessaw to maintain the general attractiveness of the corner,
After discussion and a review of Park Board's recommendation for said parking
lot, Child moved that request of St.Stephens Church for use of the Southvrest
corner of 50th and Tloodddle be. referred to Vilzage Attorney Windhorst, and that
he be directed to work with 1-k. Thorpa, representing the Church and to repolrt to
Council as soon as possible. 1.Sotion seconded by Bredesp and carried.
c
I
2/23/53 63
Petition was filed for the Blacktopping of W05$th Street'from Tingdale Avenue .
to Code Avenue. I&, 3!tchellfs recommendation vias that action be delayed -
until geveral d&ellinffs. are constructed along this .street. Chad1 s motion, that petition be accepted but that further action-be delayed until, meeting
of June .8, 1953, was seconded by Bank and carried.
Public Health Nursing Report for January, 1953, was reviewed and ordered
placed on filei.
&idland' National Bank's February 17 notice of their exchange of*$3,000 of 1-7/% U.3, Certificates of Indebtedness which matured February 15, 1953, - for
a lQe amount of 2-1/4$ Certificates of Indebtedness maturing-February l.4,
1954, was sead;: Child's motion approving said exchange was seconded by
Bank and carried, -: ~
Clerk read claim of Zva B, Stedje in amount of $15,000 for injdries to
person and damages to propertr suffered in an accident at Sunnyside Road
and Browndale Avenue,
Attorney and Insurance Company was seconded by Child and carried.
Communications from City of Hopkins and Village of Golden Valley, stating that
neither comity expects to fight the Einneqmlis Gas Companyt's rate ;increase,
were read and ordered placed on file.
-
(c
.. . ,I{
-1 I" *. I.
Bredesents motion for regerral. ofdab to Village
Sunnyslope Association's remest for a meeting with Council and Citizeds
Committee for discussion on site for new village- hall was read; said meeting
being tentatively set for Wednesday, Februarv 25, at 8:30 P&L
$5r. 1f.F. McMkhon:, 6201 Parnell Avenue, building contractor:, asked tpermissidn
to relocate bufiding sites on lots facing W,62nd Street beheen Earnell and
Concord Avenues, explaining that if dwelXngs are allowed to face south
they ~vU-1 face the rear years of the dwellings across the street. &fro
Md&&on das asked to brhg iki a sketch.showing present dwellings and their
relatkon t'o his' proposed re-locatidn prdject,
'
~1 ,I
reading ofthe following Ordinance, and Bredesen moved its
p ORDIISFANCE NO, 12-1 .
AN ORDIKANCE; &%i%DING OIDINBCE NO. 3.2 QF
THE VILIAGE, PROVIDING WE TEXPORARY
B*PlXX2GES, AND CWGIXG-PROVBIONS A3 TO r mm t
c
Clerk made secona
adopt ion:
The Village Council of the Village of Edina, Ehesota, does ordgin
I, Section 1 of Ordinance No, 12 of the Village is hereby amended
as follows: *
by inserting the following after the definition of **Casual employment'?:
or function of the Village, where thexduty is of indefinite duration,, .and
is stated by the appointing duthority ox Village Pf&nag& to ibe temporany,
and is compensated for on a monthly or wee2rly basis,
mf p l*Temporary shall mean eniployment in ariy department
i
2, There shall be added to said ordinance a new section as follows:
Section 6.5 Temporary Appointments.
Whenever the appointing authority considers it td be essen-bial to
I I A, lJhen &de
the efficient conduct ofthe business of the Village, it may provide for the
temporary employment of one or more persons, Attemporary employee need not .-
be chosen from the employment list for the position to which he is appointed,
even though such positionris included in.the position-classificatSon plan
described in section 7 of this ordinance, but section 3B hereof shall apply
Bo Conditions of Temporary Employment.
each taporary employee, and none of the sections of this ordinance-shall
spply to such employees except this section andlsections 3B, 11, 12, 17,
18 and 22,
tkmporaw employees at my time, for any reason it may consider sufficienk. Section 18A of said ordinance is hereby amended to read as
follows :
and permanent ynployees at the rate of one working day for each calendar month
of full time service or major fraction thereof.
%&ion for adoptho-n cr,f the Ord$ymce was seconded by Child, and on Rollcall
there were four ayes and no nays, as fol2ows:
to tXie selection of such temporary employee, t
The appointing authority shd.1 fix the terms of emplpyment; of
The appointing authority shall. have the right to discharge
*
3.
Sick leave with pay shall be granted to all provisional, probationary, *
1
Bredesen, aye; ChiZd, 'aye;
eclsred adopted,
C
' ' Ma$or
2/23/53
Hanager f.litcheUts report, that the 60th Street-Ghowen Avenue Storm Sewer project
is being held up pending codtrnent on the part of Katherine Cornelius as to sale
of a part of her propyty for drainage basin, vas noted. Childts motion, that' 3fr. &tcheU. be authorized to notify liirs, Cornelius that condemnation proceedings.
are in order if some agreemenf; cannot be reached in the near future, was seconded
by 3ank and carried.
Xanager Hitchellts report of notice by'the League of Xinnesota Xuicipalities of
several "w%i-liquor store'! bills before the Legislature was noted and ordered
ITanage; Hitchell reported further on remodeling plans for the Liquor Store,vrith
Counch instructing I-fessrs. litchell and ";ippley to consat distillers as to
proper dimensions for sales space, before. proceeding further.
placed on f$le. -. 1 1
Eknager r.5itchellts recommendqtions for attendance at the League U.of 1.1. short
courses by the following Village employees: Gretchen lilden,Laura Kright, and
Bernice Johnson, Friday morning, Narch 20; Ben Voehler, Tfaeer and Sewage
Operator's schqol, and Joe Zikan and Ihager 'I.Litchell, Engineers' school, was
accepted by motion Child, seconded by Bank and carried.
3bager lti.tchefi% detailed report on possible methods' of assessment for the
Richfield-Edina Sewer Interceptor was reviqwed and discussed.
Bredesen's motion, that kterest Rate on Assessment for Mchfield-Edina Sewer
Interceptor be established at five percent per annum, was seconded by Bank and
unanimously carkied,
Childts motion, that the Village office fozce be authorized to rstart asses-smqn-b
work on the Richfield-idina Sewer Xqberceptor on the basis of a I$ IUl Ad
Valorem Tax Levy, 850 per acre, and $look per front foot for pla%ted properties,
I.rith said platted properties to be assessed on a graduated table basis, using
as basis of assessment - I. All properties under 50*; 2. properties 50,-70'; 3. Properties 70'-90'; 4. Properties ~~-XLO'; 5. hcoperties 110*-130'; 6..
Properties 130*-150'; 7. Properties over l5O*., was seconded by Bank and carried.
Discussion vas had as. to office space for the typists working on the proposed
assessment for the Richfield-Edina Interceptor Sever, it being informally
decided to rent the Grange.Hal1 at $100 per month.
Iknager T-Etchell*s reuort of Fireman Ev. Daviest request for reimbursement in
amount of $15.22 for set of chains damaged vhile he was on way to fire, was
read, together -with his statement that Village does not carry insurance for
this type of loss,
and carried. c
Planning Commissionts recornendation of February Jz, for approval of I-b. F.T.
ftressets request for subdivision ofELo&10, HendelssQhn, into two lots of 175tx330t and 426,58@30t, vas reviewed. Bredesent s motion that Planning
Commission recommendations be accepted and that subdivision of lot be allowed,
was seconded by Child and carried.
Council. read and reviewed Planning oCommissionfs February 11 *recommendation with
regard to Hr. Eressets application for permit to build a Nursery Office facin6
HaXones Avenue, these recommendations being as follows: that Council grant
&Ire &esse permit to build a temporary building, said building to be removed by
I&-; &esse at my time adjacent properby ovmers object; that Council renew
permit from year to year;-that Council retain the right to refuse a ped%
should circwnstances varrant its rejection.
Coamission*s recommendation be accepted, was seconded by Child and carried.
I&. laitchell presented Preliminary Plat of **Idylmod Addition", located on Zast
side of Blake Eoad and directly south of Parktmod Road and platted by E?. John
BLoomberg. cPlanning Commission* s Februaw 11 recommendation for approval was
noted, and Bredesen moved that Preliminam Plat of Idylwood Addition he approved.
Xotion seconded by Bank and carried.
Bank moved, declining request. Uotion seconded by Child
4.2
I Bredesenf s motion, that Planning
Find Plat of lfVaUey Vevr Terrace 2nd Additionl* was presented, togebher with
Bredesen moved for approval of Final Plat. Notion seconded by Bank and carried.
of Lot 24,Block 3, Grandview Hts. Addn; Lots 1,2,3,4,7,12,13,l,15,16 and l?,
Block 7,Tirigdale Bros.Brookside, including that portion of the S1/2 of Yancey
Street vac"ated, located between extensions nort;hward of the %.and Velines of Lots 1 and 17,Block 7; and Lots 1 and 2,Block 8, Tingdale Bros. Brooksider(as
'petitioned for by Harry Gustafson-Peder lZckelson) was reviewed.
setting Public Hearinn on petition %o rezone above named property for Elondav,
'Planning Commission*s recornadation for approval with some restrictions.
n
' Planning Commission's recommendation for the ReaonFng to Community Store District
*
Child' s motion,
i -rrh 2?-1 53 2% 7:qO .A. vas seconded by Bredesen and carried.
2/23/53 65
Several mitten suggestions and recoqendations by Police Captain 14&- knd
. - ) lrlanager Ifitchell for traffic control in the business district at 50th and France
were referred to the Public Safety Commi.ttee,mfor distxsslon at'a tentative
meeting scheduled for Nonday evening, brch 2,
Nanager Iitchell~s reDort of City of Unneapolis Traffic &$@eer Ralph Sprungmants
dissatisfaction with Council's decision to place stop sign at IJorthwest Corner of
Xerxes Ave. and W.6Oth %re&, was read. &. &Etchell was instructed to have
stop sim installed at Northwest Corner of Xerxes Ave. -and ta.60th Street, as previously recommended. 0 c.
Nanager MitcheUfs recommendation, that Council delay $heL5aking of bids on the
followjng projects until -Itonday, April 13, 1953; wad read:
'l
/
P.
Blacktopping-Xwing Avenue, 5&h to &thb . I,
Blacktopping-Oaklam Avenue, 58th ko 62nd.
Curb and Gutter, Chowen.Avenue, 58th to 49th
Gravelling; Zenith he,; 5&h to 60th
Gravelling, Chowen' h?b, 59th to 60th. *
Grading and Gravelling, hhcroft he., 58th to 60th
-r
. Grading and Gravelling, Wb5$th St;, France to Bmokd.ew t
'
Bredesen* s motion, that Cduncil accept Ih-iager P.Litchellfs recommendation and take
bids for .the above named -projects on Monday, April 13, 1953, was seconded by Bank
and carried,
Childts motion, for payment of Village Payroll-, 'amount #8,354.56, and Liquor Store
Payroll, amount $655.32, Tor period February 16 to 28, inclusive,' 1953, and as
recorded in detail in Payroll Ledger, and for payment bf the following Claims, was
seconded by Ekedesen and carried:
,.
LI
L' ..I 1' -*
I
L.2372 E2373 h2374
E2375 L2376 G2377 E2388
E2379 E2381
86lt,
8650
8651
86.43 8649
8628 8640
Canada Dry Ginger Ale, bcb 113 76
Clausen & Sons, Tnc. . 475.& Coca-Cola Bottling Company - 42,0&. .
Distillers Distributing Company 1,006. $5
0,M.Droney Beverage cob .
Gluek Brewing- Cob 372 b 23 203.72
Gold Nedal. Beverage Company 31.97
Kuether Distributing cob 42-00
Nassolt Bottling Company 26.55 *.
Ri.ller-Davis Company 6.25
I&nneapoZis Brewing Company 531.91 *
vt
,-*
.e
Ilinneapolis City Club Distr.Co. 83.70
Pabst Sales Co. 233~86
Rex Distributing Company 1Q.brS -
Eoyal Beverage Distr. Co. 42.00
Seven-Up Bottfig Company 43.04.
-Shelly Distributing Company - 162.20 * L 1%
- E.dland National Bank 179.20
P4i.m. HospitaX Service Assn.. '' '7.55
Val' B jornson,Preas of PERA - 7.4;94*
Zbin Brothers- Company - * 1,477.65
Distillers Distributing Company 2; 280.60 ,-
Old Peoria Company, Inch 2;51lf56 r
Griggs, Cooper & Company 3,887 b 59
Griggs, Cooper & Company 317010
NcKesson & Robbins 45.15
I4idland Natiohal Bank-For Investrned '-
100,000.00 ' .I$
Northern states .'Power Compky 4r.59
Old Peoria Company, kcb. 125.36 42.38
1,541 69 I455. 93 .
Ed Phillips 6c" Son cob
Ed Phillips &* Son' Cob
Ed Phillips & Son Coo
Griggs, Cooper & Company - k96b3h
H.A. Rogers Co. '. 18.89
Itidland Na-610~-For Investment 30,000.00
Phelps-Drake Coo .509.72
'Orfei & Hariai.li 6,902.35
Phelps-Drake Co. n8b 50
Town & Countr? Hardware 3.08 * PAEKSFUM)
Northern Stat@s Power Coo 54.76 $ -. 55.a *
( 8288
8589 8590 9591
8592
8593
8594
8595 8596
8597
8598
8599 8608
86U9
86U
8615
8616
8619
8620
8621
8628
8629
8639
86Q
8646
8647 8648
8599 8608
8609
8610
8625
8626
8628
8629
8630
8631
8632
8633 8634
8635 8636
8637
8638
8640
8599 8601
8602
$603 8607
8605
8606
8621
8622
8623
86%
8630
$643-
8643
2/23/53 TO:
Ed Ryan, Sheriff of Hem. Cy.
Fred L. Gray Ins.Agency
Construction Bulletin
Dietrich Lumber Coo
Sel-lwfor Distributing Co.
IEller Hardware
Bertelson Brothers
Lyle Signs, Inc.-
UcGormn Contracting Co ,,
Glacier Sand & Gravel Co.
lbrton Salt Co.
hstleford Equipment Co.
Northwestern Bell Telephone Co.
Ninnesotil. Fire Extinguisher Go.
American Linen Supply Coo
H. db Rogers Co.
Burroughs Adding Nachine Coo
Rydeen Agency
Eugene Elsen & Sons
Young Fuel Go.
Tovm eC Coukry Hdwe.
En. H. Ziegler Co.
Northern States Power Coo
lKUer-Da;is *
&.ne Safety Jppli*ince CO.
League of 1.tinnesota E.iunicipaU.ties
Clancy Drugs, Inci
Northwestern Bell Thephone Coo
I-Ennesota Fire Ext&guisher Coo .I
herican Linen supply GO.
Delegard Tool Coo
Don & John Uolander"
xdina Pure oil ~edce
Tom & Country Hardilslre
'Ejm. H. Ziegler CO.,~ kc. u. so Supply coo *
Hpls. Gas Go.
Leef Bros., Inc. .
fnternationd. HarveHter Coo ~ I
Bob finodes Ford Cor
A-If Company kcb ofvI.linn.
Reinhard Brothers Cpmpany
Service Tool & Esuipment COO
Northern States Peer Coo
-
Underwood Corporation t-
t
-_
H. Re ToU COO
Northwestern Bell Telephone Coo
Badger Neter Hfg, Cp.
American Cast Iron Pipe Coo
City Treas., City o$l-fpls
Delaney Bros.
Addressograph-Kult ihaph
J.R. Coan, PostmastFr
Young Fuel Go.
American IfaterVorks* Assn.
ITaterous Company
Chicago Bridge & Bin Go.
U.S. Supply coo
Northern Sta-bes PoGr Coo
Edland NatLBank-FFr Inws'hent
cpy Treas., City of Hpis.
Addr es sogr~ph-I-ibltipaph C o
JOB. Cow, PostmastFr
Northern States PowFr Cb..
Edland Natl. Bank-For Investment
~ddressograph=~~~ti*~aph Co
J.R. Coan, Postmaster
Zrs. Gale Sperry
Hidland Natl. BankiFor
It 11 11 It
T.
AKOUNT
$ 9.00
7.50
21.20
13 88
23.65
I 13.34 19.45
35.65
8.55
226.59
1940 53
3000
*. U6.45
4. 50
6.25
&a22
,~06,00
325.50 47.94
3.50
3L31 13.77
13,222091
5.38
6.00
1.71
17.70
8.08
3.00
20.20
2.40
2.00
17.07 i61.99
r
ma-
l
R
1
1
1
-.
--
2/23/53
8644 Xidland Natl. Bank-For Investment
8644 It 11 !I 11 11.
$45090.00
FIR SIiG.FUND #l
PIR SKG.FUND #2
. $16000 .OO
PI3 SKG.FUND #3
6000.00
$llooo.oo
1950 IIEROVE. 8611 Dorsey,Colman,Barker,Scott & Barber $112.62 1st &.3rd SIB. 8645 IWland National-For Investment 10,000,OO $10~2.62
1950 DE'ROVE
86k5 Midland Natl, Bank-For Investment
8611 Dorsey,Colman,Barker;Scott & Barber
8612 Dorsey,Colman,Barker,Scott & Barber 1;067.00
I 86&5 Midland Natl.Bank-For Investment 1,o'OO.OO -
-
8613 Dorsey,Coha,n,Barker,Scott & Barber
y5796 Nidland Nat LBank-FOR
11: 11 11' 11 y5796
11 11 11 II. Y5796
11: 11 It' 11. a5797
T"T
11'
11.
11 11 91 *' 11 ' Y5797
It - . 11: It 11 It. Y5797
Y5797 It 11 11. 11. 11
n. lf It! 111 11. y5797
If 11. !I I1 Y5798
11 ir 11 I1 y5799
Y5799
Y5799
II 11 11 I!
It 11 11 11
Y5799 I1 11 11 II
11
11
It
smm DIST.&
$ 2000.00
smm DIST&I
$1000.00
3 -4500.00 smm DIST.#U
SEXER DIST,#$
$ 7000.00
SlZNEB DIST4#12
9 7000.00
SEXER DIST.#3,5
$ 3500.00
LlEtm DIST,#lh 8 2000.00
..
Schedule of recommended investments, as revised by Auditor, was presented;
totalling $71,500 in 3-months maturities, $126,000 in &months maturities,
$60,000 in. 9-months maturities and $92,000 in Year maturities, together with
schedule of callable bonds, was presented for confirmation and approval.; __
auditor's detailed schedule, was seconded by Child and carried.
'Bank's motion, authorizine purchase of the above listed investments, as
68 2/23/53
Bank then offered the follov6ng Resolution and moved its adoption:
e. R3SOLUTXOIJ C33AliTING AUTHORTllY TO ,VILU4GE
TO J3" SURPLUS .RJ!$DS
BE IT €&SOLVED that this Council does hereby &ant authority to the Ildina V&Uagci
Eanageq fromtime to time to make investments of surplus fbnds of this Village in
U.S. Go@. Securities, with the approval of Itidland National Bank, investment
agents; notice of said inves%ments to be reported to this Council at the first
Regular Council. Neeting succeeding each of said investments.
1.ldtion ,for adoption was se4onded by Bredesen, and on Rollcall there were four ayes
and no nays, as follows: Bredesen, aye; Child, , aye; and Zrickson, aye;
and the Resolution wzs adopted.
ATTEST:
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V'ZLlage Clerk
1bbager litchell reported the Park Board's request that the Council take bids on
a 1-1* Ton Pick-up Truck, with "additional equipment, according to specifications
furnished by the Board.
suggestions and take bids Nonday, Narch 9, on truck as per their specifications,
was seconded by Bredesen and carried.
Bhager' I2itchell reported that the Village Public ;Forks Crew is now too busy
cleaqing streets to help in the clearing of snow away from hydrants.
authority for Utilities Supt. Iloehler to hire a small loader for this work.
No action vas taken on this request, although I&. 1-Etchell was requested to
solicit, the aid of the Boy Scout and Cub Scout organizations in wrk of this
'I B;qnk*s.motion, that Council. act;, in accordance with Board's
He asked
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kind,
I.ianag& Etchell reported application for permit to set house at an angle at 5101
Kent Ayenue.
Inspector Woehler, inasmuch as the dimensions of the lot make it impossible to
locate-the house otherwise; that a drainage easement should be secured before
permjot is issued. Cliildrs motion, that permit be granted subject to drainage
easemat, was seconded br Bredesen and carried.
Ihnageg 1-Etchell presented his recommendations for purchase of one Jap Transit 0 $200
fr0m.H. Ilogers Company, and for one +rley Level 0 $160 and one Buff Transit 6 $UO,
from F, Geiger Conpany, all three instruments being second-had. He stated that
the Engineering crew is urgentlyh need of these instruments and that the rent
of saiq instruments for any length of time r.rill be considerably more costly than
outright purchase. Bank*s motion for acquisition of the engineering instmats
recommended by Village I-Ianager was seconded by Bredesen and carried.
Child moved'for adjournment to tfednesday, February 25, at 7:30 P.1.f.
He stated that this locationmeets the approval of Building
.
Ilotion
seconded by 13- and carried. I-leeting adjourned 124.5 PoIL
# A Village 6,& Clerk
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