#008 02-13-57 Provide Improvement BondsResolution No. 8
February 13,1957
Member Teresi introduced the following resolution and moved its
adoptions
RESOLUTION PROVIDING FOR SALE OF $776,000
IMPRDVEMENT BONDS OF 1957, FIRST SERIES
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 specified in the
form of notice included in paragraph 2 hereof, for the purpose of open-
ing, receiving and considering bids for and awarding the sale of
$776,000 Improvement Bonds of 1957, First Series, 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 Nest at least 10 days prior to the date of sale, which
notice shall be in substantially the following form:
NOTICE OF BOND SALE
$776,000 IMPROVEMENT BONDS of 1957, FIRST SERIES
VILLAGE OF GOLDEN VALLEY,
HENNEPIN COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that the Village Council of the Village
of Golden Valley, Minnesota, will meet at the Village Hall in said
Village on March 5, 1957, at 700 otclock P.M., for the purpose of
opening and considering sealed bids for, and awarding the sale of,
$776,000 Improvement Bonds of 1957, Fir -at Series, of said Village, to
be issued under the authority of Minnesota Statutes 1953, Chapter 429.
Said bonds will be dated February 1, 1957, each in the denomination of
$1,000, bearing interest at the rate or rates to be designated by the
successful bidder, expressed in integral multiples of 1 or 1/10 of
1% per annum, payable on August 1,1957, and semiannua17.* thereafter
on February 1 and august 1 of each year. Said bonds will mature serially
on February* 1 in the following years and amountss
Year
Amount
Year
Amount
Year
Amount
1959
$4o,000
1966
$35,000
1973
$40,000
1960
36,000
1967
40,000
1974
40,000
1961
401,000
1968
35,000
1975
4o,000
1962
35,000
1969
409000
1976
401,000
1963
40,000
1970
40,000
1977
40,000
1964
35,000
1971
40000
1978
400000
1965
40,000
1972
4o,000
a W
Resolution No. 8 (continued) February 13,1957
Bonds maturing in 1972 and later years will each be subject to redemption
by the Village on February 1, 1964s and any subsequent interest pay-
ment date, in inverse order of serial numbers, at par and accrued
interest plus a premium of $30 for each bond redeemed prior to February 1,
1968, or a premium of 15 for each bond redeemed on or after February
i, 1968, but prior to February 1, 1972, or no premium for any bond re-
deemed on or after February 1, 1972. 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 with-
out cost to the purchaser and within 40 days after award of sale,
the printed and executed bonds and the unqualified approving legal
opinions of Messrs. Dorsey, Owen, Barker, Scott & Barber, of Minnea-
polis, Mi
Resolution No. 8 (continued)
and of the sale thereof.
Mayor
February 13,1957
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, Teresi 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.
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