#287 11-15-71 Award Sale of Improvement Bonds1
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Resolution No. 287 November 15, 1971
RESOLUTION AWARDING SALE OF
$2,030,000 IMPROVEMENT BONDS OF 1971
Member Stockman introduced the resolution and MOVED its adoption.
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 $2,030,000
Improvement Bonds of 1971 of the Village, and the highest and best bid received
pursuant to said notice is that of Piper, Jaffray & Hopwood, Inc. of. Minneapolis,
Minnesota, and associates, to purchase said bonds at a price of $2,011.390.00,
plus interest accrued on all bonds to date of payment therefor, 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
1972
1973
1M
1975
1976
1977
1978/1979
Interest Rate
2.40%
2.75%
3.00%
3.20%
3.40%
3.60%
3.70%
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 sub-
mitted 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.
Mayes
Attest:
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Ulstad, and upon vote being taken thereon, the following voted in
favor thereof: Hoover, Paulson, Stockman, Teresi and Ulstad; 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 Village Clerk.