res_755 - Laserfiche WebLink

Home

that there is then no litigation threatened or pending, affecting the validity of the bonds. Sealed bids marked "Bid for $1,250,000 Bonds, Series 3" must be mailed or delivered to the undersigned Village Clerk and must be received at his office prior to time of meeting. Oral auction bids will not be considered. Each bid must be unconditional except as to legality and must be accompanied by a cashier's or certified check in the amount $25,000 payable to the Village Treasurer to be retained as liquidated damages in case the bid be accepted and the bidder shall fail to comply therewith. All bonds of a single maturity shall bear a uniform basic rate of interest from date of issue until paid and the basic rate of interest payable on each bond of the issue must not exceed the basic rate of interest payable on other bonds of the same or subsequent maturities. Bidders may specify that all or any of the bonds shall bear interest at an additional rate, to be represented by separate and detachable coupons, for a period expiring on or before June 1, 1965, provided that the aggregate amount of interest represented by such coupons does not exceed $25,000. The bid offering the lowest dollar amount of net interest cost computed to stated maturities of said bonds, deducting therefrom the premium if any, will be deemed the most favorable to the village. No bid of less than par and accrued interest will be considered and the village reserves the right to reject any or all bids, and to waive any informality in any bid and to adjourn the sale if deemed necessary. Dated: May 6, 1963 BY ORDER OF THE VILLAGE COUNCIL Richard W. Turnlund village Clerk For further information: PETERSON & POPOVICH 314 Minnesota Building St. Paull, Minnesota CApital 2-5515 Area of Village Est. 1963 population 1962 Assessed Val. Market Value Total Debt (eXClusive of this issue) Debt .~a ti 0 8800 acres 26,000 $21,832,995 $193,673,502 $8,951,000 4.62%