res_1492 - Laserfiche WebLink

Home

After some discussion, Shields introduced the following resolution and moved its adoption: M kes 0 / tA,;"1/ () ^' o. / V 9' d2.... RESOLUl'ION AW.ARDING SALE OF $2,950,000 WATER IMPROVEMENT BONDS" SERIES 5 BE IT RESOLVED by the Council of the Village of Roseville, Minnesota" that the highest and best bid received in accordance witrrthe published notice of sale, for the purchase of $2,950,000 Water Improvement Bonds, Series 5 of the Village to be dated April 1, 1966, is that of Amer .Nat1.Bank & Trust Co. of St.Pau1,Minn.,& Phelps, Fenn , of New York , New York , and associates therein named, to purchase the bands at a price of par and accrued interest plus a premium of :to .00, the bonds maturing in the years set forth below to bear interest at the respective annual rates set forth opposite such years, from date of issue until paid or duly called for redemption: Maturity Years Interest Rates 1967 1972 1976 1979 1981 - 1971 1975 - 1978 1980 1984 3.80% 3.90% 4.00% 4.10% 4.20% and each of the bonds to bear additional interest ~ represented by separate and detachable coupons, at the rate of 1.$Jper annum from May 1 , 1966 to Apr i1 1 , 19>7; that the Mayor and Clerk are authorized and directed to execute on behalf of the Village a contract for the sale of the bonds to said bidder upon the terms above stated; and that the Treasurer shall retain the check securing the bid above described until delivery of the bonds and payment of the purchase price, and shall return the checks of other bidders forthwith. The motion for the adoption of the foregoing resolution was duly seconded by Grauel , and upon vote being taken thereon, the following voted in favor thereof: All and the follOWing voted against the same: None whereupon the resolution was declared duly passed and adopted,