#113 04-12-55 Award Lateral Sewer Improvement Bonds21
RESOLUTION ADOPTED
by the
VILLAGE COUNCIL
Resolution No. 113
April 12, 1955
Member Foss introduced the following resolution and MOVED its adoption:
RESOLUTION AWARDING SALE OF ;A'0001000.00
LATERAL SEXER IMPROV BENT NO. 1 BONDS
BE IT RESOLVED by the Village Council of the Village of Golden Valley,
Minnesota, that the bid of Barcus, Kindred & Uompany, of '�hicago,Illinois,
and B. J. Van Ingen & Company, of New York City, to purchase 31,000,00 -?.00
Lateral Sewer Improvement No. 1 Bonds of the Village to be dated February 1,
1955, at a price of par and accrued interest plus a premium of $225.00,
the bonds maturing in the years set forth below to bear interest at the
respective rates per annum set opposite such maturity years:
Maturity Years
Interest Rates
1957-64,,,r 2.5o%
1965-67„ 2.75%
19U-76* 2.90%
all bonds to bear additional interest at the rate of 2.20% per annum
from August 1, 1955 to February 1, 1956, such additional interest being
represented by a separate "B" coupon,
and to be issued in accordance with the notice of call for bids heretofore
duly published, is hereby found and declared to be the highest and best bid
received pursuant to advertised notice of sale of said bonds and is hereby
accepted. The Mayor and Clerk are hereby authorized -and directed to endorse
a-cceptance of said bid in behalf of the Village on the bid submitted by said
successful bidders, and to return to them one copy of their bid. The Village
Clerk is directed to retain the good faith check of said successful bidders,
and to return all other good faith checks forthwith.
MayorAtte t -
a lerk
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: Foss, Huebsch, Rahn, Stark; and the following voted against
the same: None; (Ries was absent); whereupon said resolution was declared
duly passed and adopted, and was signed by .the Mayor, and his signature
attested by the Clerk.