#432 10-16-72 Sale of Park and Recreation Bonds1
1
Resolution No. 432
October 16, 1972
Member Ulstad introduced the following resolution and MOVED its adoption:
RESOLUTION AWARDING SALE OF
$980,000 PARK AND RECREATION BONDS OF 1972
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
$980,000 Park and Recreation Bonds of 1972 of the Village, and the highest
and best bid received pursuant to said notice is that of The First National
Bank of St. Paul of St. Paul, Minnesota, and associates, to purchase said
bonds at a price of $970,062.80, 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
1974/1976
1977/1980
1981
1982
1983
1984
1985
1986
1987
1988/1993
Interest Rate
4.20%
4.250'
4.30%
4.40%
4.50%
4.6o%
4.70%
4.80%
4.9o%
5.00%
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 forth-
with returned to them.
Mayor
Attest:
4
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Paulson, and upon vote being taken thereon, the following voted in
favor thereof: Riggs, Hoover, Paulson, Stockman, and Ulstad; and the
following voted against the same: None, whereupon said resolution was
declared duly passed and adopted.