#194 10-12-56 Award Sale Improvement BondsResolution No. 194
October 12, 1956
Member Rahn introduced the following resolution and moved its adoption:
RESOLUTION AWARDING SALE OF $1,0001000 IMPROVEMENT
BONDS, SERIES OF AUGUST 1, 1956
BE IT RESOLVED by the Village Council of the Village of Golden Valley,
Minnesota, that the highest and best bid for the purchase of $1,000,000
Improvement Bonds, Series of August 1, 1956, of said Village, received
pursuant to and complying with the terms of notice of sale heretofore duly
published, is that of Piper, Jaffray & Hopwood and Associates, of Minneapolis,
Minnesota, to purchase said bonds at a price of par and accrued interest
plus a premium of $ None, bonds maturing in the years set forth below to
bear interest at the respective rates set forth opposite such maturity years:
MaturityYears Interest Rate
For Bonds maturing 2/1/58
to 2/1/78 inclusive 3.90% per annum
Plus 1.50% per annum to be expressed by an extra coupon on all
bonds for the period 2/1/57 to 2/1/58 as follows:
Cpn. #'Bl consisting of $1,000 coupons of $7.50 each due 8/1/57
Cpn. #82 consisting of $1,000 coupons of $7.50 each due 2/1/58
BE IT FURTHER RESOLVED that said bid shall be and is hereby accepted, and
the Mayor and Clerk are authorized and directed to endorse such acceptance
upon a copy thereof and return the:same to said bidder; and that the check
furnished by the successful bidder shall be retained pending delivery of
the bonds and payment of the purchase price, and the Clerk shall forthwith
return the checks of other bidders.
ATTE
The motion for the adoption of the foregoing resolution was duly seconded
by Member Teresi and upon vote being taken thereon, the following voted
in favor thereof: Nadasdy, Rahn, Stark, and Teresi; and the following
voted against the same: None, whereupon said resolution was declared
duly passed and adopted, signed by the Mayor and his signature attested
by the Clerk.
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