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<br />The Mayor announced that this was the time and place for the <br /> <br />receipt and opening of sealed bids for the purchase of $1,595,000 <br /> <br />Temporary Improvement Bonds of 1970 of the Village. The village <br /> <br />Manager furnished affidavits of publication of the notice of sale <br /> <br />in the Suburban Sun and in the Commercial West. Said affidavits <br /> <br />were approved and ordered filed in the office of the village <br /> <br />Manager. <br /> <br />The Manager then stated that 3 sealed bids had been received, <br /> <br />which were thereupon opened and read and found to be as follows: <br /> <br />First National Bank of St. Paul, Manager <br />Dain, Kalman & Quail, Inc. <br />First National Bank of Minneapolis <br />Northwestern Natl. Bank of Minneapolis <br />John Nuveen & Co. <br />Piper, Jaffray & Hopwood, Inc. <br />Caldwell Phillips, Inc. <br />Woodard-Elwood & Co. <br /> <br />American Natl. Bank & Trust Co.) <br />Phelps, Fenn & Company )co-mgrs. <br /> <br />Paine, Webber, Jackson & Curtis <br />Reynolds & Company <br />Juran & Moody, Inc. <br />Robert S. C. Peterson <br />E. J. Prescott & Company <br /> <br />Hibbard, O.Connor & Weeks, Inc. <br />U. M. I. C., Inc. <br /> <br />5.50% Interest Rate <br />$1,570,915.50 Price <br />$287,259.50 Interest Cost <br />6.0033% Net Interest <br /> <br />5.90% Interest Rate <br />$1,571,075 Price <br />$306,240 Interest Cost <br />6.40% Net Interest <br /> <br />6.25% Interest Rate <br />$1,566,000 Price <br />$328,062.50 Interest Cost <br />6.85606 Net Interest <br />