res_775 - Laserfiche WebLink

Home

The Water Improvement Bonds, Series 4, maturing in the years 1974 through 1983 will be callable at the option of the village on July 1, 1973 and any interest payment date thereafter at par and accrued interest plus a premium of 2% if prepaid on or before January 1, 1978, and without premium if prepaid on or after July l, 1978. The Sanitary Sewer Improvement Bonds, Series I, and the General Improvement Bonds, Series 1, which mature in the years 1969 through 1983 will be callable at the option of the village on July l, 1968 and any interest payment date thereafter at par and accrued interest plus a premium of 2% if prepaid on or before January 1, 1973, and without premium if prepaid on or after July 1, 1973. Of the bonds of each series which are outstanding at the time of redemption, those bearing the highest coupon rate will be prepaid first, in inverse order of their serial numbers. Principal and interest of each series will be made payable at a suitable banking institution in the United States named by the purchaser. The bonds will be issued in denomination of $l,OOO or $5,000 each, as desired by the purchaser. The purchaser is requested to advise the village of the denominations and paying agent de.ired within 48 hours after the sale. The village will furnish, without cost to the purchaser, and within 30 days after date of sale, the printed and executed bonds and approving legal opinion of Messrs. Dorsey, Owen, Marquart, Windhorst & West of Minneapolis, Minnesotar and Messrs. Peterson & Popovich of St. Paul, f'i.nnosota, together with certificate stating that there is then EO litigation threatened or pending, affecting the validity of the bonds. Sealed bids marked "Bid for $1,052,000 Improvement Bonds" 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 of $21,000 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. As to each series, the bonds of a single maturity shall bear a uniform basic rate of interest from date of issue until paid, and the basic rate payable on each bond of the series must not exceed that payable on other bonds of the same or sub- sequent maturities. Bidders may specify that all or any of the