#177 11-28-60 Award Improvements Bonds Municipal Sate AidResolution No. 177 November 28, 1960
Member Flannagan introduced the following resolution and MOVED its adoption:
RESOLUTION AWARDING SALE OF $679,000
IMPROVEMENT BONDS OF 1960 AND $150,000
MUNICIPAL STATE AID STREET BONDS OF 1960
BE IT RESOLVED by the Village Council of the Village of Golden Valley,
Minnesota, that, pursuant to the notice to bidders heretofore published, this
Council has examined and considered all bids received for the purchase of
$679,000 Improvement Bonds of 1960, and $150,000 Municipal State -Aid Street
Bonds of 1960 of the Village, and the highest and best bid received pursuant to
said notice is that of JURAN & MOODY, INC., of St. Paul, Minnesota, and
associates, to purchase said bonds at a price of par and accrued interest plus
a premium of $2.50, bonds of said issues maturing in the years stated below
bearing interest at the respective rates of interest shown opposite such
maturity years:
$679,000 Improvement Bonds $150,000 Municipal State -Aid Street Bonds
Maturity Years
Interest Rate
Maturity Year
Interest Rate
1963-67*
3.25%
1963-67**
3.25%
1968-72*
3.50%,
1968-72**
3.50%
1973-75*
3.80%
1973-75**
3.80%
1976-82*
3.90%
Plus additional interest, represented by separate "B" coupons, @ 1.50% per annum,
*from, February 1, 1961, to February 1, 1962
**from January 1, 1961, to December 1, 1961
Said bid 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
returned to them.
Mayor
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Attest:
;
.,-Mlage Manager (Clerk)
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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, and was signed
by the Mayor, and his signature attested by the Village Manager (Clerk).
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