#072 09-15-59 Award Improvement Bonds14
Resolution No. 72 September 15, 1959
Member Flannagan introduced the following resolution and MOVED its
adoption:
"RESOLUTION AWARDING SALE OF
$825,000 IMPROVEMENT BONDS OF 1959"
BE IT RESOLVED by the Village Council of the Village of Golden
Valley, Minnesota, that pursuant to the invitation to bidders here-
tofore issued, this Council has examined and considered all bids re-
ceived for the purchase of $825,000 Improvement Bonds of 1959 of the
Village, to be dated August 1, 1959, and the highest and best bid re-
ceived pursuant to said notice is that of Piper, Jaffray & Hopwood,
of Minneapolis, Minnesota, and associates, to purchase said bonds at
a price of par and accrued interest plus a premium of $ (None)
DOLLARS, bonds of said issue maturing in the years stated below bearing
interest at the respective rates of interest shown opposite such matu-
rity years:
Maturity Years Interest Rates
1961 - 1967 4, %
1968 - 1972 4.25%
1973 - 1975 4.40%
1976 - 1980 4.50%
Said bids shall be and is hereby accepted. The Mayor and Clerk are
hereby authorized and directed to enter into a contract for the sale of
said bonds in accordance with the terms of said bid, and to retain the
good faith check submitted by said purchaser pending the delivery of
the bonds and payment of the purchase price, and checks furnished by
other bidders shall be forthwith returneq to them.
Mayor �'-
Attest:
Village Cr7.erk and Administrator
The motion for the adoption of the foregoing resolution was duly seconded
by Member Teresi and upon vote beigg 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.