#115 01-07-58 Award Sale Improvement BondsX050 _
Resolution No. 115 January 7, 1958
After consideration of bids Member Flannagan introduced the following
resolution and MOVED its adoptions
RESOLUTION AWARDING SALE OF $62,000
IMPROVEMENT BONDS OF 1958, FIRST SERIES.,
AND $73,000 IMPROVEMENT BONDS OF 1958,
SECOND SERIES
BE IT RESOLVED by the Village Council of the Village of Golden Valley,
Minnesota, that the highest and best bid for the purchase of $62,000 Improve-
ment Bonds of 1958, First Series, and $73,000 Improvement Bonds of 1958,
Second Series, of said Village received pursuant to and complying with the
terms of the notice of sale heretofore issued to prospective bidders is
that of Jurand & Moody, Inc. of Minneapolis, Minnesota, to purchase said
bonds at a price of par and accrued interest, plus a premium of $ -0-,
the bonds of said issues maturing in the years set forth below to bear
interest at the respective rates per annum set forth opposite such
maturity years
$62,000 Improvement Bonds
of 1958,
$73,000 Improvement Bonds
of 1958,
First Series
Second Series
Maturity Years
Int. Rate
Maturity Years
Int. Rate
1959/1968
3.50%
1960/1966
3.60%
1969/1978
3.70%
1967/1969
3.75%
Net Interest Costs
$41,334.00 at 3.657%
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 accep�-
ance 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 forth-
with return the checks of other bidders.
Attest: Mayor
Acting -Village Clerk
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, Flannagan, Nadasdy, Scherer, Teresi;
and the following voted against the same: None,
whereupon said resolution was declared duly passed and adopted and was
signed by the Mayor and attested by the Village Clerk.