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<br />
<br />Reso. 158
<br />
<br />Trustee Hammersten introduced the following resolution and moved its
<br />
<br />adoption:
<br />
<br />RESOLUTION AWARDING SALE, FIXING TERHS AND
<br />DIRECTING EXECUTION AND DELIVERY OF $ 6000,000
<br />SANITARY SEWER IMPROVEMENT OONDS, SERIES C, AND
<br />LEVTING TAXES FOR THE PAYMENT THEREOF
<br />
<br />BE IT RESOLVED by the Council of tlle Village of Roseville, Minnesota,
<br />as follows:
<br />
<br />1. All bids received pursuant to advertisement duly published having
<br />been publicly opened and considered by tllis Council, it is hereby found and de-
<br />termined that the highest and best bid for the purchase of the Sanitary Sewer
<br />Improvement Bonds, Series C, in the amount of $600:,000, directed to be sold by
<br />resolution adopted August 27, 1957, is that of The First National Bank of Saint
<br />Paul and associates, of St. Paul, Minnesota, to purchase said bonds at a price
<br />of par and accrued interest plus a premium of $ , the bonns to bear interest
<br />and to be subject to further terms and conditions as set forth below. Said bid
<br />shall be and is hereby accepted, and tlle Mayor and Village Clerk are hereby
<br />authorized to endorse such acceptance on a copy thereof and return the same to
<br />said bidder. The good faith check furnished by said bidder shall be retained
<br />pending delivery of the bonds and payment of the full~hase price, and the
<br />Clerk shall forthwith return the checks of other bidders.
<br />
<br />2. Said bonds shall be forthwith issued and delivered to said pur-
<br />chaser in accordance With said proposal, and in accordance with the provisions
<br />of the resolution adopted June 26, 1956, entitled "Resolution Creating Sanitary
<br />Sewer Improvanent Bond Sinking Fund, Authorizing the Issuance of $1,000,000
<br />Sanitary Sewer Improvement Bonds, Series A, and Establishing the Form and Terms
<br />Thereof", T"rhich resolution is hereby incorporated herein and by reference made a
<br />part hereof. The bonds of said Series C shall be 600 in number and numbered
<br />from 1 to 600, inclusive, each in the denomination of $1,000, all dated as of
<br />October 1, 1957, and shall mature serially on July 1 in the years and amounts as
<br />follows:
<br />
<br />$30,000 in each year 1958 through 1971
<br />
<br />Bonds maturing in the years 1958 through 1961 (numbered 1 through 300) shall be
<br />payable at their respective stated maturity dates without option or-prior payment,
<br />but those maturing in the years 1968 through 1977 (numbered 301 through 600) shall
<br />be each subject to redemption aner-prepayment ~he option of the Village;-on
<br />July 1, 1962, and any interest payment date thereafter, in inverse order of their
<br />serial numbers, and at a price of par and accrued interest plus a premium of $20.00
<br />for each bond prepaid on or before July 1, 1967, and $10.00 for each bond prep~
<br />thereafter, but on or before July 1.1. 1972, and without premium if prepaid after
<br />July 1, 1912. Not less than 30 days prior to the date specified for redemption
<br />of any of said bonds the Village Treasurer shall mail notice of the call thereof
<br />to the bank at which principal and interest are then payable and to the holder, if
<br />known, of each bond to be prepaid, and said Treasurer shall maintain a record of
<br />the names and addresses of the holders of prepayable bonds of said issue, so far
<br />as such information is made available to him, for the purpose of mailing said
<br />notices. The bonds of said issue bearing the respective serial numbers and matur-
<br />ing in the respective years set forth below, shall bear interest at the annual rates
<br />set forth opposite said maturity years and serial numbers:
<br />
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