#092 10-21-69 Award Street Bonds Park and Recreation Area Bonds1
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Resolution No. 92
October 21, 1969
Member Garis introduced the following resolution and MOVED its adoption:
RESOLUTION AWARDING SALE OF
$450,000 MUNICIPAL STATE -AID STREET BONDS OF 1969
AND $255,000 PARK AND RECREATION AREA BONDS OF 1969
BE IT RESOLVED by the Village Council of the Village of Golden
Valley, Minnesota, that pursuant to notice to bidders heretofore published
this Council has examined and considered all bids received for the purchase
of $450,000 Municipal State -Aid Street Bonds of 1969 and $255,000 Park and
Recreation Area Bonds of 1969 of the Village, and the highest and best bid
received pursuant to said notice is that of Piper, Jaffray & Hopwood, of
Minneapolis, Minnesota, and associates, to purchase said bonds at a price
of $693,057.30, plus interestaccrued on all bonds to date of payment there-
for, bonds of said issue maturing in the years stated below bearing interest
at the respective rates of interest shown opposite such maturity years:
Maturity Years
1970/1976
1977/1978
1979/1981
1982/1981
1985/1987
1988/1996
Interest Rate
5.80%
5.90%
6.00%
6.20%
6.30%
6.10%
Said bid shall be and is hereby accepted. The Mayor and Manager 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 for -
with returned to them.
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Attest:
Village Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly
seconded by Member Stockman, and upon vote being taken thereon, the follow-
ing voted in favor thereof: Garis, Teresi, Stockman, Bies; and the follow-
ing 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.
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