#344 12-17-63 Award Sale Municipal State Aid Street Bonds236
Resolution No. 344 December 17, 1963
Member Flannagan introduced the following resolution and MOVED
its adoption:
RESOLUTION AWARDING SALE OF $110,000
MUNICIPAL STATE -AID STREET BONDS OF 1963
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 $110,000 Municipal State -Aid Street Bonds of 1963
of the Village, and the highest and best bid received pursuant to said
notice is that of Northwestern National Bank, of Minneapolis, Minnesota
to purchase said bonds at a price of par and accrued interest plus a
premium of $None, bonds of said issue maturing in the years stated be-
low bearing interest at the respective rates of interest shown oppos-
ite such maturity years:
Maturity Years Interest Rate
1965/1968 3.00%
1969/1971 3.25%
1972/1974 3.50%
1975/1978 3.60%
Plus additional interest of
2.10% per annum from 2/1/61
to 8/1/64
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,md checks furnished
by other bidders shall be forthwith returned to them.
Mayor
Attest:
i
Village Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by Member Schaphorst, and upon vote being taken thereon, the
following voted in favor thereof: Flannagan, Schaphorst, Scherer,
Teresi, and Nadasdy, 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 Clerk.