CC 07-20-1961 - Laserfiche WebLink

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. . . ~ Member 01men introduced the following resolution and moved i tll adop- tion: RESOLUTION AWARDING SALE OF $420,000 STREElr IMPROVEMEl'll:! BONDS, SERIES B BE IT RESOLVED by the. Council of the Village of Arden Hills, Minnesota, that advertisement for bids for the purchase of $420,000 Street Improvement Bonds, Series B, has been duly published and all bids received pursuant thereto have been publicly opened and considered, and the highest and best of such bids is that of Juran & Moody ,of St. Pau I, Minn. ,and associates, to purchase the bonds at a price of par and accrued interest plus a premiUlll of ~. 00 ,the bonds maturing in the years set forth below to bear interest at the respective rates per 81lllUlll set opposite such maturity years, from date of issue until paid: Maturity Years Interest Rates 1963 3.00% 1964 3.25% 1965 3.5~b 1966 . 1967 3.80% 1968 3.90% 1969 . 1972 4.00% and all of the bonds to bear additional interest at the rate 01'2.00')1; per annUlll from Septeml;ler ,11961 toAugust 1 ,1$62, to be represented by separate and detachable "B" coupons. Said bid shaJ.l be and is hereby accepted, and the Mayor and Village Clerk are hereby authorized forthwith to endorse such acceptance on a copy of the bid and return the same to said bidder. The good faith check furnished by the purchaser shall be retained pending delivery of the bonds and payment of the full purchase :price thereof, and the Clerk shaJ.l return the checks of other bidders. The motion for the adoption of the foregoing resolution was duly seconded by Member Kennedy, and upon vote being taken thereon, the following voted in favor thereof: All and the following voted against the same: None whereupon said resolution was declared duly passed and adopted. Member Kennedy then introduced the following resolution and moved its adoption: RESOLUTION AUl'HORIZIllG THE ISSUANCE OF $420,000 STREET IMPROVEMENT BONDS, SERIES B, AND ESTABLISHING THE FORM AND TERMS THEREOF BE IT RESOLVED by the Council of the Village of Arden Hills, Minnesota, as follows: 1. By resolution adopted June 20, 1961, the Council has ordered the con- struction of Street Improvements numbered 3, 4 and 5, and has contracted for the con- struction thereof, pursuant to hearings duly held upon published notice and advertise- ment for bids duly published in accordance with the prOvisions of Minnesota Statutes, Chapter 429; said improvements consisting of the grading and surfacing of village streets and construction of stann sewers necessary and incidental thereto, as de- scribed in the notice of the hearings held on the improvements, published in the Rose -2-