#171 06-24-58 Award Sale Improvement Bonds Fourth Series1
Resolution No. 171 June 24, 1958
Member Flannagan introduced the following resolution and MOVED
its adoption:
RESOLUTION AWARDING SALE OF $410,000 IMPROVEMENT BONDS
OF 1958, THIRD SERIES, AND $500,000 IMPROVEMENT BONDS
OF 19581 FOURTH SERIES
BE IT RESOLVED by the Council of the Village of Golden Valley,
Minnesota, that the gighest and best bid for the purchase of $410,000
Improvement Bonds of 1958, Third Series, and $500,000 Improvement Bonds
of 1958, Fourth Series, of said Village, received pursuant to and
complying with the terms of the 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:
$410,000
Bonds,
Third Series
$500,000
Bonds, Fourth Series
Maturity
Years
Interest Rate
Maturity
Years
Interest Rate
and the
1960
- 65
3.50%
1961 -
65
3.50%
1966
- 69
3.60%
1966 -
69
3.60%
1970
- 73
3.70%
1970 -
73
3.70%
1974
- 79
3.80%
1974 -
80
3.80%
Plus additional interest, represented by separate "B" coupons, on
all bonds of both issues, from February 1, 1959, to February 1, 1960, at
the rate of 1% per annum.
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 payments of the purchase price, and the Clerk shall forthwith
return the checks of other bidders.
_. ayor
Attest:,..-
llage 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 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.