1976 CC Minutes & Resolutions - Laserfiche WebLink

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After due consideration of said bids, Councilman 4 __~_~~q~~------------_ introduced the follo\'iing resolution and moved its adoption: RESOLUTION AWARDING THE SALE OF $870,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1977, f'IXING THEIR FOR~l AND SPECIF~CATIONS, DIRECTING THEIR EXECUTION AND DELIVERY, AND PROVIDING FOR THEIR PAYMENT. BE IT RESOI.VED By the Ci ty Council of the Ci ty of Centerville, Minnesota, as follows: 1. The bid of Piper, Jaffray & Hopwood, Inc. to purchase $870,000 General Obligation Improvement Bonds of 1977, of the City described in the notice of sale thereof is hereby found and determined to be the highest and best bid received pursuant to duly advertised notice of sale and shall be and is hereby accepted, such bid being to purchase such bonds at a price of $13~~.Q_CL.!._QL_______._-- plus accrued interest to date of delivery, such bonds to bear interest as follows: 1978-1987 5.30% 1991 1988 5.50% 1992-1993 1989 5.60% 1994-1995 1990 5.70% 1996-1997 5.75% 5.80% 5.90% 6.00% The City Clerk-Treasurer is directed to retain the good faith check of the successful bidder pending completion of the sale and delivery of the bonds. The City Clerk-Treasurer is directed to return the checks of the unsuccessful bidders forthwith. 2. The City of Centervi11e shall forthwith issue and sell its General Obliaation Improvement Bonds of 1977, in the principal amount of ~870,OOO dated January 1, 1977, said bonds being 174 in number and numbered 1 to 174, both inclusive, in the denomination of $5,000 each, bearing interest as above set forth, all interest payable October 1, 1977, and semiannually thereafter on April 1 and October 1 in e~ch year, and which bonds mature serially on April 1 in the years and amounts as follows: