04-12-56 Special MeetingW,
SPECIAL MEETING
of the
VILLAGE COUNCIL
April 12, 1956
Pursuant to due call and notice thereof, a special meeting of the Village
Council of the Village of Golden Valley, Hennepin County, Minnesota, was
held in the Village Hall in said Village on April 12, 1956, at 7:30 o*clock
P.M. The following members were present: Bies, Nadasdy, Rahn, Stark and
Teresi and the following was absent: None. The mayor called the meeting
to order at 8:05 o'clock P. M.
Sale of Bonds - Lateral Sewer Im rovement No. 1 and Trunk Sewer Im rovement
No. 2:
The Clerk presented an affidavit of publishing notice of sale of $3751000
Lateral Sewer Improvement No. 1 Bonds (Second Series) and $1,000,000 Trunk
Sewer Improvement No. 2 Bonds of the Village in Commercial West. Said
affidavit was examined and ordered placed on file in the office of the Village
Clerk, The Mayor announced that this was the time and place fixed in said
notice for the opening and consideration of sealed bids for said bonds. The
Clerk reported that he had received two sealed bids for said bonds, as follows:
Name of Bidder Interest Rates
Premium
Piper, Jaffray and Hopwood 3.76%
Juran-Moody Inc.
Allison -Williams Company
J. M. Dain and Company
Barcus, Kindred and Company
B. J. Van Ingen and Company
Caldwell -Phillips Company
Mannheimer -Egan, Inc.
Shaughnessy and Company
Woodard -Elwood Company
H. E. Wood and Company
Kalman and Company Inc.
Paine, Webber, Jackson and Curtis
E.J. Prescott and Company
John Nuveen and Company 3,821%
$30.00
Baxter Williams Company
Central Republic
F. S. Yantis and Company
Allan Blair and Company
M. B. Vick and Company
MOVED by Rahn seconded by Teresi carried to adjourn to executive session for
the purpose of considering said Bid.
The Council then reconvened,
1
MOVED by Rahn seconded by Bies carried that the interest rate for the $375,000
lateral sewer improvement bond and the $11000,000 trunk sewer improvement #2
bond to beset at 6a.
After consideration of said bids, Member Stark introduced the following
resolution and MOVED its adoption: "RESOLUTION AWARDING SALE OF $ 3759000
LATERAL SEWER IMPROVEMENT NO. 1 BONDS (SECOND SERIES) ANS $ 1,000,000
TRUNK SEWER IMPROVEMENT NO. 2 BONDS".
The motion for the adoption of the foregoing resolution was duly seconded
by Member Rahn and upon vote being taken thereon the following voted in
favor thereof: Bies, Nadasdy, Rahn, Stark and Teresi and the following
voted against the same: None, whereupon said resolution was declared
duly passed and adopted,and was signed by the Mayor which was attested by
the Clerk. (See resolution Book Page,,�p�.)
Member Stark then introduced the following resolution and MOVED its adoption:
"RESOLUTION PROVIDING FOR AND APPROPRIATING ADDITIONAL SPECIAL ASSESSMENTS
TO THE SUPPORT AND MAINTENANCE OF LATERAL SEWER IMPROVEMENT NO. 1 FUND, AND
DIRECTING ISSUANCE OF LATERAL SEWER IMPROVEMENT NO. 1 BONDS (SECOND SERIES).
The motion for the adoption of the foregoing resolution was duly seconded by
Member Rahn and upon vote being taken thereon, the following voted in favor
thereof: Bies, Nadasdy, Rahn, Stark and Teresi-and the following voted
against the same: None, whereupon said resolution was declared duly passed
and adopted, and was signed by the Mayor which was attested by the Clerk,
(See resolution Book PageVo.)
Member Stark then introduced the following resolution and MOVED its adoption:
"RESOLUTION CREATING TRUNK SEWER IMPROVEMENT NO. 2 FUND, PROVIDING FOR AND
APPROPIATING SPECIAL ASSESSMENTS TO THB SUPPORT AND MAINTENANCE THEREOF, AND
DIRECTING ISSUANCE OF TRUNK SEWER IMPROVEMENT NO. 2 BONDS.':
The motion for the adoption of the foregoing resolution was duly seconded by
Member Rahn and upon vote being taken thereon, the following voted in favor
thereof: Bies, Nadasdy, Rahn, Stark anL Teresi and the following voted
against the same: None, whereupon said resolution was declared duly passed
and adopted, and was signed by the Mayor which was attested by the Clerk.
(See Resolution Book Page.3/24.)
- Motion by Stark seconded by Rahn carried to approve the sale of $131000
negotiable coupon bonds in connection with Street Improvement No. 19 on the
same terms as those set forth above in the bid of the successful bidders.
This sale was arrived at by negotiation upon award of the above bond issue.
MOVED by Stark seconded by Rahn carried to adjourn.
Attest
age C er
Dyl