HomeMy WebLinkAbout98-022
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CITY OF ARDEN HILLS
RAMSEY COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 98-22
A RESOLUTION APPROVING THE PLANS AND SPECIFICATIONS AND
ORDERING THE ADVERTISEMENT FOR BIDS IN THE MATTER OF THE STREET
IMPROVEMENTS OF 1998
WHEREAS, pursuant to Council resolution, the Project Engineer has prepared plans and
specifications for the 1998 Street Improvements, which plans and specifications have been
reviewed by the City.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills,
Minnesota:
1. Such plans and specifications, a copy of which is attached hereto and incorporated herein
by this reference, are hereby approved.
2.
The City Administrator shall prepare and obtain the publication of an advertisement for
bids for the making of the improvement pursuant to the attached plans and specifications.
The advertisement shall be published once each week for three consecutive weeks, shall
specify the work to be done, and shall state that the bids will be received by the City
Administrator until 11 :00 a.m. on March 5, 1998, at which time the bids will be publicly
opened in City Hall by the City Administrator and the Project Engineer, and will then be
tabulated for consideration by the City Council at a meeting thereof at 7:30 p.m. on
March 9, 1998, in the New Brighton City Council chambers at New Brighton City HaiL
No bids will be considered unless sealed and filed with the City Administrator and
accompanied by a cash deposit, cashier's check, bid bond, or certified check payable to
the City Administrator in the amount of 5% of the amount of such bid.
PASSED AND ADOPTED BY THE CITY COUNCIL
THIS 9TH DAY OF FEBRUARY, 1998.
OF ARDEN HILLS
DENNIS PROBST, MAYOR
ATTEST:
ITY ADMINISTRATOR
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Extract of Minutes of Meeting
of the City Council of the City of
Arden Hills, Ramsey County, Minnesota
STlIII fRolft.J(J I,jJJ
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031113031:1
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Arden Hills, Minnesota, was duly held in the City Hall in said City on Tuesday, February 17,
1998, commencing at 7:30 o'clock P.M.
The following members were present:
Mayor Dennis Probst. Council Members
Beverly Aplikowski, Dale Hicks, Susan Keirn, and Paul lIalone
and the following were absent: None
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The Mayor announced that the next order of business was consideration of the proposals
which had been received for the purchase of the City's $3,100,000 General Obligation Tax
Increment Bonds, Series 1998A.
The City Administrator presented a tabulation of the proposals which had been received
in the manner specified in the Official Terms of Proposal for the Bonds. The proposals were as
follows:
SJB132BBO
AR200-1
BID TABULATION
$3,100,000 General Obligation Tax Increment Bonds, Series 1998A
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City of Arden Hills, Minnesota
SALE: February 17, 1998
AWARD: FBS INVESTMENT SERVICES, INC.
RATING: Standard & Poor's "A+"
BBI: 5.08%
NAME OF BIDDER
RATE
YEAR PRICE
NET
INTEREST
COST
TRUE
INTEREST
RATE
FBS INVESTMENT SERVICES, INC.
AN OPERATING DIVISION OF U.S. BANCORP
INVESTMENTS, INC.
Minneapolis, MinnBsota
EVER EN SECURITIES, INC.
Chicago, Illinois
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DOUGHERTY SUMMITT SECURITIES LLC
Minneapolis, Minnesota
JOHN G. KINNARD & COMPANY
Minneapolis, Minnesota
CRONIN & COMPANY, INC.
Minneapolis, Minnesota
SALOMON SMITH BARNEY
Chicago, Illinois
Josephthal, Lyon & Ross, Inc.
.
. Ehlers & Associates, Inc.
LEADERS IN PUBLIC FINANCE
3.80%
3.90%
4.00%
4.05%
4.15%
4.20%
4.30%
4.35%
4.45%
4.50%
4.60%
4.65%
4.70%
4.75%
2001 $3,073,789.55
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013-2014
2015
$1,575,456.49
4.6070%
3.85% 2001 $3,061,250.00 $1,592,454.58 4.6680%
3.95% 2002
4.00% 2003
4.10% 2004
4.15% 2005
4.20% 2006
4.30% 2007
4.35% 2008
4.40% 2009
4.50% 2010
4.60% 2011
4.65% 2012
4.70% 2013
4.75% 2014
4.80% 2015
4.00% 2001-2003 $3,066,396.20 $1,594,925.88 4.6701 %
4.10% 2004
4.15% 2005
4.20% 2006
4.25% 2007
4.35% 2008
4.45% 2009
4.55% 2010
4.65% 2011
4.70% 2012
4.75% 2013-2014
4.80% 2015
3060 Centre Pointe Drive
Roseville. Minnesota 55113-1105
16121697-8500. FAX (612) 697.8555
www.ehI8rs~inc.com
$3,100,000 General Obligation Tax Increment Bonds, Series 1998A
City of Arden Hills, Minnesota
Page 2'
NAME OF BIDDER
RATE
YEAR
PRICE
NET
INTEREST
COST
TRUE
INTER.
RA~
PIPER JAFFRAY INC. 4.00% 2001 $3,062,198.60 $1,592,054.84 4.6702%
Minneapolis, Minnesota 4.05% 2002
4.10% 2003
4.20% 2004
4.25% 2005
4.30% 2006
4.40% 2007-2009
4.50% 2010
4.60% 2011
4.625% 2012
4.65% 2013
4.70% 2014
4.75% 2015
DAIN RAUSCHER INCORPORATED 4.30% 2001-2008 $3,063,221.15 $1,599,275.20 4.6911%
Minneapolis, Minnesota 4.40% 2009
4.50% 2010
4.60% 2011
4.625% 2012
4.70% 2013
4.75% 2014
4.80% 2015
$1,598,822.56 .
PAINEWEBBER, INC. 4.25% 2001-2006 $3,061,801.50 4.6912%
Chicago, Illinois 4.30% 2007
MORGAN STANLEY DEAN WITTER 4.35% 2008
Chicago, Illinois 4.45% 2009
4.55% 2010
4.625% 2011
4.65% 2012-2013
4.75% 2014-2015
ABN AMRO CHICAGO CORPORATION 4.25% 2001-2006 $3,062,162.45 $1,606.475.88 4.7130%
Chicago, Illinois 4.35% 2007
PRUDENTIAL SECURITIES, INC. 4.40% 2008
Chicago, Illinois 4.50% 2009
CIBC OPPENHEIMER & COMPANY 4.60% 2010
New York, New York 4.625% 2011-2012
4.70% 2013
4.75% 2014
4.80% 2015
GRIFFIN, KUBIK, STEPHENS & THOMPSON, 4.25% 2001-2007 $3,061,250.00 $1,609,137.92 4.7187%
INC. 4.30% 2008
Chicago, Illinois 4.40% 2009
4.50% 2010
4.625% 2011
4.70% 2012 .
4.75% 2013
4.80% 2014
4.875% 2015