#072 09-21-54 Provide Sale Street Improvement Bonds132
Resolution No. 72 September 21, 1954
Member Stark introduced the following resolution and moved its
adoption:
RESOLUTION PROVIDING FOR SALE OF $20.,000
STREET IMPROVEMENT BONDS
BE IT RESOLVED by the Village Council of the Village of Golden Val-
ley, Minnesota, as follows:
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1. This Council shall meet at the time and place specified 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 $20,000 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 following form:
NOTICE O,F BOND SALE
NOTICE IS HEREBY GIVEN that the Village Council of the Village
of Golden.Valley, Hennepin County, Minnesota, will meet at.the Vil-
lage Hall in said Village on , 1954s at
o'clock . M., for the purpose of opening and considering sealed
bids for, and awarding the sale of, $20,000 negotiable coupon gen-
eral obligation Street Improvement Bonds of said Village, to be
issued under the authority of Minnesota ,Statutes 1953: Chapter 429.
Said bonds will be dated September 1, 1954, each in the denomina-
tion of $1,000, bearing interest at a single rate to be designated
by the successful bidder, expressed in an integral multiple of 1/4
or 1/10 of 1% per annum, payable semiannually on March 1 and Septem-
ber 1 of each year, and will mature serially on March 1, without
option of prior payment, in the amount of $2,000 in each of the
gears 1957 through 1966. 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 purchaser 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 Minnespolis,
Minnesota. Delivery will be made without cost to the purchaser in
St. Paul or Minneapolis, Minnesota, or elsewhere -at his expense.
Sealed bids marked "Bid for Improvement Bonds" may be delivered
or mailed to the undersigned for opening at said meeting, and must
be received prior to the time of said meeting. Each bid must be
unconditional except as to legality of the issue, and must be accom-
panied by a cashier's or certified check or bank draft in the amount
of $400, payable to the Village Treasurer, to be forfeited as liqui-
dated 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 in-
formality in any bid.
Dated September 21, 1954.
BY,0`RDEB/OF THE VILLAGE COUNCIL
Uillage cierx
Golden Valley, Minnesota
3. Each and all of the terms and provisions of the foregoing form
of notice are hereby adopted as the terms and conditions of said
bonds and of the sale thereof.
Attest
x7x...,.�
Mayor
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, Foss, Huebsch, Rahn, Stark;
and the following voted against the same. None; whereupon said res-
olution was declared duly passed and adopted and was signed by the
Mayor, which was attested by the Clerk.
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