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<br />NOTICE OF SALE
<br />
<br />RESOLUTION NO. 139
<br />AOOPTED August 27, 1957
<br />ALSO REFER TO
<br />RESO. NO. 158
<br />
<br />$600,000 SANITARY SEWER IMPROVEMENT BONDS,
<br />SERIES C
<br />VILLAGE OF ROSEVILLE, RAMSEY COUNTY, MINNESOTA
<br />
<br />NOTICE IS HEREBY GIVEN that the Council of the Village of Roseville, Minne-
<br />sota will meet in the Council Chambers in the Village Hall in said Village at
<br />12:00 o'clock noon on v.lerlnesday, the 18th day of September, 1957, to receive, open
<br />and consider sealed bids for and award the sale of its negotiable coupon general
<br />obligation Sanitary Sewer Improvement Bonds, Series C, in the principal amount of
<br />$600,000, to be issued to finance additional costs incurred in the construction
<br />of Sanitary Sewer Improvement No. 1 of the Village, under authority of and pursuant
<br />to Minnesota Statutes 1953, Chapter 429, as amended. Said bonds will be dated as
<br />of October 1, 1957, will be issued in the denomination of $1,000 each, will bear
<br />interest at a rate or rates to be designated by the successful bidder, expressed
<br />in integral multiples of 1/4 or 1/10 of 1% per annum and payable July 1, 1958, and
<br />semiannually thereafter on January 1 and July 1 of each year, and will mature
<br />serially on July 1 in the years and amounts as follows:
<br />
<br />$30,000 in each year 1958 through 1977
<br />
<br />The bonds maturing in the years 1958 through 1967 will not be subject to redemp-
<br />tion prior to maturity, but the bonds maturing in the years 1968 through 1977
<br />will each be subject to redemption at the option of the Village on July 1, 1962,
<br />and any interest payment date thereafter, in inverse order of their serial numbers,
<br />and at a price of par and accrued interest plus a premium of $20.00 for each bond
<br />prepaid on or before July 1, 1967, and $10.00 for each bond prepaid thereafter but
<br />on or before July 1, 1972, after which date all remaining bonds will be prepayable
<br />without premium. Principal and interest will be made payable at a suitable banking
<br />institution named by the purchaser, subject to the approval of the Village Council,
<br />and the Village will pay the reasonable and customary charges of such paying agent.
<br />The Village will furnish, without cost to the purchaser and within 40 days after
<br />sain date of sale the printed anrl executed bonds and the approving legal opinions
<br />of Mr. Beldin, Loftsgaarden, Village Attorney, and Messrs. Dorsey, Owen, Barker,
<br />Scott & Barber, Minneapolis, Minnesota, together with the customary non-litigation
<br />certificate.
<br />
<br />Sealed bids marked "Bid for .$600,000 Bondslt may be mailed or delivered to the
<br />undersigned Village Clerk and must be received prior to the time of the meeting.
<br />Oral auction bids will not be considered. Each bid must be unconditional except
<br />as to legality and must be accompanied by a cashier's or certified check or bank
<br />draft in the amount of $12,000, payable to the Village Treasurer, to be retained
<br />as liquidated damages in case the bid is accepted and the bidder shall fail to
<br />comply therewith. Bids will be compared according to the lowest dollar amount of
<br />net interest cost computed to the stated maturities of the bonds, deducting there-
<br />from any premium offered. No bid of less than par and accrued interest will be
<br />considered, and the Village reserves the right to reject any and all bids, to waive
<br />any informality in any bid and to adjourn the sale if deemed necessary.
<br />
<br />Dated: AU7ust 27, 1957.
<br />
<br />BY ORDER OF THE VILLAGE COUNCIL
<br />
<br />For further information contact:
<br />Peterson and Popovich
<br />Village Bond Consultants
<br />314 Minnesota Building
<br />Saint Paull, Ninnesota
<br />CApital 2-5515
<br />
<br />B. H. Hammersten
<br />Village Clerk
<br />
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