#019 10-06-53 Provide Street Improvement Bonds1
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The motion for the adoption of the foregoing resolution was
duly seconded by Member Reiss, and upon vote being taken thereon,
the following voted in favor thereof: Foss, Rahn. Reiss, Stark,
Stasel; and the following voted against the same: None; where-
upon said resolution was declared duly passed and adopted and
-was signed by the Mayor, which was attested by the Clerk.
Resolution No. 19
October 6, 1953
Member Rahn introduced the following resolution and moved
its adoption.
RESOLUTION PROVIDING FOR SALE OF $66,000
STREET IMPROVEMENT BONDS
BE IT RESOLVED by the Village Council of the Village of
Golden Valley, Minnesota,as follows:
1. This Council shall meet at the time and place speci-
fied in the form of notice included in paragraph 2 hereof, for
the purpose of opening, receiving and considering bids for and
awarding the sale of X66,000 Street Improvement Bonds of the
Village.
2. The Village Clerk is authorized and directed to cause
notice of the time, place and purpose of said meeting to be
published in the Commercial West at least 10 days prior to the
date of sale, which notice shall be in substantially the follow-
ing form:
NOTICE OF BOND SALE
NOTICE IS HEREBY GIVEN that the Village Council of the
Village of Golden Valley, Hennepin County, Minnesota, will meet
at the Village Hall in said Village on November 3, 1953, at
8:00 otclock P.M., for the purpose of opening and considering
sealed bids for, and awarding the sale of, 066,0OO negotiable
coupon general obligation Street Improvement Bonds of said Vil-
lage, to be issued under the authority of Minnesota Session
Laws of 1953, Chapter 398. Said bonds will be dated November 12
1953, each in the denomination of $1000, bearing interest at the
rate or rates to be designated by the successful bidder, ex-
pressed in integral multiples of 1/4 or 1/10 of 1% per annum,
IS 2
payable semiannually on May
1 and November
1 of each year, and
will mature serially on May
l,without option
of prior payment,
in the years and amounts as
follows:
Year Amount
Year
Amount
1955 469000
1960
46,000
1956 7000
1961
7,000
1957 79000
1962
7,000
1958 6,000
1963
6,000
1959 7,000
1964
7000
Principal of and interest on the bonds will be made payable
at any suitable national or state bank which the purchaser may
designate. The Village will furnish without; cost to the pur-
chaser and within 40.days after award of sale, the printed and
executed bonds and the unqualified approving legal -opinion of
Messrs. Dorsey, Colman, Barker, Scott and Barber of Minneapolis,
Minnesota. Delivery will be made without cost to the purchaser
at St. Paul or Minneapolis, Minnesota, or elsewhere at his ex-
pense.
Sealed bids marked "Bid for Improvement Bonds" may be de-
livered or mailed to the undersigned for opening at said meet-
ing, and must be received prior to the time of said meeting.
Each bid must be unconditional except as to legality of the is-
sue, and must be accompanied by a cashierts or certified check
or bank draft in the amount of $1,320, payable to the Village
Treasurer, to be forfeited as liquidated damages in case the
bid be accepted and the bidder shall fail to comply therewith.
Bids will be preferred according to lowest net interest cost
to the Village. No oral bid, and no bid of less than par and
accrued interest will be considered, and the Council reserves
the right to reject any and all bids, and to waive any inform-
ality in any bid.
BY ORDER OF THE VILLAGE COUNCIL
Village Clerk
Mayor
Attest:
Village Clerk
Stanley D. Kane
Village Attorney
943 Plymouth Building
Minneapolis 3, Minnesota
Published in the North Hennepin Post this day of ,
1953•