04-18-57 Special Meeting-75 -
SPECIAL MEETING
of the
VILLAGE COUNCIL
Pursuant to due call and notice thereof a special
Council of the Village of Golden Valley, Hennepin
held in the Village Hall in said Village on April
o'clock A.M.
April 18, 1957
meeting of the Village
County, Minnesota, was
18, 1957, at 11:00
The following members were present: Bies, Nadasdy, and Stark; and the
following were absent: Rahn and Teresi.
The Clerk presented affidavits showing publication, in accordance with the
resolution adopted March 19, 1957, of notice of sale of $1,100,000 Improve-
ment Bonds of 1957, Second Series, bids for which were to be received at
this meeting. Said affidavits were examined, found satisfactory, and
directed to be placed on file.
The Clerk reported that two sealed bids for the purchase of said bonds
had been received by him prior to the time of this meeting, which bids
were thereupon presented to the Council, opened, and publicly read and.
considered, and the highest and best bid of each bidder was found to be
as follows:
Name & Address of Bidder Interest Rate
or Rates
itPiper, Jaffray & Hopwood, Mpls.)
1960/1967-3-577
-,Juran-Moody, Inc., St. Paul )
1968/1972-4.00%
Allison -Williams Company, Mpls. )
1973/1979-1.10%
J. M. Dain & Co., Mpls. )
Plus additional
Barcus-Kindred & Co., Chicago )
1.80% per annum
B. J. Van Ingen & Co., New York )
period 6/1/57 to
Caldwell -Phillips Co., St. Paul )
Mannheimer -Egan, Inc., St. Paul )
Shaughnessy & Co., St. Paul )
$563,818.75
Woodard -Elwood & Co., Mpls. )
4.184%
H. E. Wood & Co., St. Paul )
Kalman & Co., Inc., Mpls. )
Paine, Webber, Jackson &
Curtis, Boston )
E. J.Prescott & Co., Mpls. )
<1
Premium
Total Interest
Cost from date
of issue to mat -
Par
urity, less pre-
mium, and Net
Interest Rate
interest of
for the
8/1/58
$563,818.75
4.184%
*John Nuveen & Co., Chicago ) 1960/1979-4.25% $316.00 $583,370.70
Central Republic Co., Chicago ) Plus additional interest
American National Bank, St. Paul) of 1% per annum for the
M. B. Vick & Co., Chicago ) period 8/1/57 to 8/1/58
F. S. Yantis & Co., Chicago
Syndicate Manager
-76 -
Member Bies then introduced the following resolution herein quoted by
title and MOVED its adoption.-
"RESOLUTION
doption:
"RESOLUTION AWARDING SALE OF $1,100,000 IMPROVEMENT BONDS
OF 1957, SECOND SERIES"
The motion for the adoption of the foregoing resolution was duly seconded
by Member Stark, and upon vote being taken thereon, the following voted
in favor thereof: Bies, Nadasdy, and Stark; 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 Resolutions Book Page 90 .
Member Stark then introduced the following resolution herein quoted by
title and MOVED its adoption:
"RESOLUTION CREATING LATERAL SANITARY SEWER IMPROVEMENTS
NOS. 4(a) and 4(b) FUND, PROVIDING FOR AND APPROPRIATING
SPECIAL ASSESSMENTS TO THE SUPPORT AND MAINTENANCE THEREOF,
AND DIRECTING ISSUANCE OF $1,100,000 IMPROVEMENT BONDS OF
1957, SECOND SERIES"
The motion for the adoption of the foregoing resolution was duly seconded
by Member Bies, and upon vote being taken thereon, the following voted
in favor thereof: Bies, Nadasdy, and Stark; 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 Resolutions Book Page 91 .
Regarding Traffic Violations Bureau:
MOVED by Stark, seconded by Bies carried to give a first reading to an
ordinance entitled:
"AN ORDINANCE PROVIDING FOR A TRAFFIC VIOLATIONS BUREAU" (Ordinance #10)
MOVED by Stark seconded by Bies carried to approve the above ordinance herein
quoted by title on its first reading.
MOVED by Stark seconded by Bies carried to give a second reading, on the
grounds of a public urgency, to an ordinance entitled:
"AN ORDINANCE PROVIDING FOR A TRAFFIC VIOLATIONS BUREAU" (Ordinance #10)
MOVED by Stark seconded by Bies carried to approve the above ordinance herein
quoted by title on its second reading and to order publication thereof.
See Ordinance Book Page .-9/,6.
MOVED by Bies seconded by Stark carried to adjourn the meeting.
ATTEST:
1� Z-� a
ag Cler