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, I C0UBCl1~ cr..... then introduced the following resolution and moved its adoption: RESOLUTION AWARDING SALE OF $730 ,000 TEMPORARY IMPROVEMENT BONDS, SERIES 1 fit BE IT RESOLVED by the Council of the Village of Arden Hills, Minnesota, that the bid of tlIe PUR _t:~l Mall of taut ..,,1 of It. "\11 ,"."-eota ,and associates named therein, to purchase $730,000 Temporary Improvement Bonds, Series 1 of the Village of Arden Hills to be dated January 1, 1968, in accordance with the notice of sale heretofore d~ issued by the Village, is hereby found and declared to be the highest and best bid received for the purchase of said bonds, and should be and is hereby accepted, said bid beinJt to purchase said bonds at a price of par and accrued interest plus a premium of $ H'. 4,0 the bonds to bear interest at the rate 0:r4. 7U% per annum. The Village Treasurer is directed to retain the good faith check of said successful bidder pending completion of the sale and delivery of said bonds, and the checks of unsuccessful bidders shall be forthwith returned to them. , The motion for the adoption of the foregoing resolution was d~ seconded by COWlc1~ O~ , and upon vote being taken thereon, the following voted in favor thereof: All and the following voted against the same: 110M whereupon the resolution was declared dulJ" passed and adopted. cowac1~ cr....\I then introduced the following resolution and moved its adoption: RESOLUrION ESTABLISHING THE FORM AND TERMS OF $730,000 TEMPORARY IMPROVEMENT BONDS, SERIES 1 BE IT RESOLVED by the Village Council of the Village of Arden Hills, Minne- sota, as fo1.1ows: 1. In accordance with the provisions of Minnesota Statutes, Chapter 429 the Village has by resolutions adopted by the requisite majority of the members of this Council, pursuant to hearings duly held, ordered the construction of each of the improvements enumerated below, and has awarded a contract to the lowest respon- sible bidder for the furnishing of part or all of the work and materials required for each improvement, pursuant to advertisement for bids theretofore published in accordance with law, and the designations of the respective improvements and the present4' estimated expense incurred and to be incurred in the making of each im- provement, in excess of state-aid or other funds on hand and appropriated for the P8iVIIlent of such expense, are as follows: '" Nature Improvement Number Cost to be Financed Water Water Street Street Sanitary Sewer Sanitary Sewer 67-1 67-2 6 7 7 8 $599,663.90 70,394.50 17,685.26 7,556.84 14,869.44 19,830.06 $730,000.00 -3-