#090 11-21-61 Award Improvement Bonds1
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Resolution No. 90 November 21, 1961
Member Flannagan introduced the following resolution and MOVED its adoption:
RESOLUTION
(Awarding Sale of $990,000 Improvement Bonds of 1961)
BE IT RESOLVED by the Council of the Village of Golden Valley, Minnesota,
that the highest and best bid for the purchase of $990,000 Improvement Bonds
of 1961 of said Village, received pursuant to and complying with the terms
of the notice of sale heretofore duly published, is that of Juran & Moody,
Inc., of Minneapolis, to purchase said bonds at a price of par and accrued
interest plus a premium of $000.00,,bonds maturing in the years set forth
below to bear interest at the respective rates set forth opposite such
maturity years:
Maturity Years
Interest Rate
Feb.
1,
1963
through Feb.
1,
1968
2.80
Feb.
1,
1969
through Feb.
1,
1971
3.00
Feb.
1,
1972
through Feb.
1,
1976
3.60
Feb.
1,
1977
through Feb.
1,
1983
3.80
Plus additional interest to be evidenced by extra coupons on all bonds at
the annual rate of 1.50 per cent for the period February 10, 1962 to
February 1, 1963.
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 payment of the purchase price, and the Clerk
shall forthwith return the checks of other bidders.
Attest:
'Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Teresi and, upon vote being taken thereon, the following voted in
favor thereof: 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, which was attested by the Clerk.