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<br />-~-_.~., <br /> <br />r.1inutes of Special Counci I Ilee-ring <br />Village of Arden Hills <br />Thursday - January 4, 1968 - 8:00 p.m. <br /> <br />Cal i i-o O,-der <br /> <br />~1eetin<J W5 called to order by Mayor Bjorndahl at 8:00 p.m. <br /> <br />Roll Call <br /> <br />Present - '.1ayor Bjorndah j, Counci Imen Crepeau and Olmen <br />Absent - Counci Iman Henderson <br />Also Present - Village Attorney Vincent P. Courtney, Fiscal Agent <br />Peter Popovich, Treasurer Worth G. Read, Administrative <br />Clerk Lorraine Stromquist and Deputy Clerk Florence Honan. <br /> <br />.,. <br /> <br />Counci lman-Elect Hollenhorst was absent; he had not'taken the oath <br />of office as of this date, therefore, his name does not appear on <br />the roil call. <br /> <br />Purpose of Meeting <br /> <br />Mayor Bjorndahl stated that the purpose of The special meeting was <br />to sell bonds in the amount of $730,000 to finance Water Improvements <br />67-1 and 67-2, Street Improvements 6 and 7, and Sanitary Sewer <br />Improvements 7 and 8. <br /> <br />Opening of Bids <br /> <br />Mr. Popovich Informed the Council that the market is up considerably <br />and he expects the Interest to be up to 5' on three year short <br />term bonds. <br /> <br />Clerk Lorraine Stromquist opened the three bids submitted, whlch <br />were read by Mr. Popovich. <br /> <br />The bids submitted were as folloNS: <br /> <br />Bidder Terms <br /> <br />First National Bank of St. Paul <br />Paine, WEbber, Jackson & C~rtls, <br />r.1p Is. <br /> <br />Northwestern Nat' J Oank of Mpls. <br />Ebin, RobertsenCo., inc., ~"pls. <br />Reynolds & Co., New York <br /> <br />.. <br /> <br />Piper, Jaffray & Hopwood, Mp~s. <br />A1Qson-Williar.1s Co., Hpls. <br />Oaln, I(alman & Quailjl j'''p3S. <br />JUI'an & ~':oody, Inc., S-:-. Paul <br />E. J. Prescott e, Co.., i1pls. <br />Caldweil, Phillips, inc., St. Paul <br /> <br />Aw~i.!:uJ.-2.LJ3 i~ <br /> <br />4.70% <br />$569.40 Premium <br />$102,360.60 lnterest Cost <br />4.674% Net Interest <br /> <br />4..70% <br />$36.50 Premium <br />$102,893.50 Interest Cost <br />4.69833% Net Interest <br /> <br />4.90% <br />$112. Premium <br />5107,198 Interest Cost <br />4.89% Net Interest <br /> <br />As recommended by r~r-. Popovich, Councilman Crepeau mov(,d the <br />adoption of a Resolution, as attached, awarding the sale of bonds <br />in the amount of $730,000 to the First National Bank of St. Paul <br />and Pair.e, Webber, Jackson t, Curtis, inc.; seconded by CounCilman <br />Oirnen; motion cDn-ieo. <br /> <br />Counci:r.;an Crepeau ":1c.ved tho adoption of a R8sotu-rion~ as ilttachEtd, <br />estabt i~hjnq -rhe forn! and tor'ms of "rhe bonds; seconc(~ed bV Counci 1_ <br />m a n 0 I 1:1E .',1.: rl1 c -r ion car' r i e d . <br /> <br />-1- <br />