HomeMy WebLinkAboutResolution 61-41 BE IT RESOLVED by the City Council of the City of Columb!a
Heights, ,;_~:nesota., ss fo_io,.:,-¢:
i. %~is Council shell meet et She time end pis.ce and ~or the
purpose specified in the form of notice of bond sale here!nsfter
set forth and ~o take such further ectlon in respect to the bonds
therein described ss shall the~: be four. d desirable or expedient.
2. ~ae City N~neger !s a~zthorized and directed to give notice
of the time, re!ccc and ~zrpose of sa!5 meetiu~ by ceusi~ notice
thereof to be published in one issue of Columbia Helghts Record and
_ ~ ~ , .... ~c~a! oePiodica! ou.~!zohed
at Ninneapo!is~ N!nnesots~ ascii_ of such cub!lost!one to be st
least ten days ppior to tho date of said meotiN~ nh!eh not!ce
shall reed snbstantis!!y s.s' foi!o~:s:
NOTICE CF SALE 0P
8650,000 PEP212_i~iiT Vr"~Ol~r'Enm ~'~r~V~r~"~ z~.~ ~0ilDS
tnm~ the City Council of the '~
1,0~±'¢~ iS _....~.~...~_~ Ol~-Ell ~it[,? of
- ~ ~ " ~nne,:~otc, ~,:ii! meet at the C~t~ O¢¢ices~ ~90 -
Coltzmo_a heights, ...... , --
' ~ ~,~, on Xonday, Se~tembe~ !! 1961,
~Oth ~,vcnue '~...:,. in said CE~
8:00 o'clock p.m., :]entre! S~,~s~-~~,~_~,.~ Time, to. receive, o~en_ and
consider bids for the purchase ~¢~ {'6~0,000. o¢¢'*~'¢~q~,.~-~- obligation
Permanent i~-',- m ', the ..... to _
:.ur_o. ~onc,.s of be issued
to provide funds for improvemer_ts of a !asti~_g o~-,.r¢,.cte:, i,aci-~dir~
fYul~ taps s vorP. se~'~ers ¢
~,-~ue~ line ~ ~ l~n~ --= -
opon!~s and acquisitions, and -~ ~ ~:.na ~errer .... e.~uen~ious,
and a tr~nr]: sen. itary saner.
The %ot:ds ni!i be dated s.s of October !, !9,~!, an.d in donomi-
~ ~U coat _~ue~e~u at the or
nation of ']!~000 each, ~-hd r , r~-ue rates
specified by the s~tccessft~! biqdeP~ ps/-sb!e semiannuc!!y
April i arid '~' ~ ~ ~ ~
~c~o~or ! itz each ~?~e~..~'.~ comme?_c!r_g A~rii~ i, i~2.
~rlncm~l ~nd i~terest ~'~!!i be mede ~;~ ~ie at~.~ suitable
zuo~z~u~iom' ~'~ ~ in the Umited States des~'~aed-o ...... ~-~. ~o~e successful
t~e City ~ '~ t~e
b idde~, ~
~reez~ to pay reasonao!e ~-~ ~ ~-~-~ ~--
· ~.~io~ for the receipt ~=d disburseme'~t of the
Said bonds ~.?ii! be n~mbered serially from ! through 6~0 and
r~i!l .... , ~='~-~ in 000 on October ! ~ each
~:~::.otme the a. mot~t of
' ' :) ....
~ ~ I~F a~d ,.5~000 o'a ,;c~ooe~ ~ ~r_ each
of tn~ years 1968 through i972~,~!1 ' .... ~-',~-
The,~ ~i~y will fur~ish, ~.~ithout cost to the purchaser, o~e printed
and execz~ted bonds cud the unqualifiedam~.~ ?z ~o~iN~,~ legal opiulo~q_ of
Howard, Petersou, Le Pevere, Lef!er g: Xaertze~, Hi~neapo!is,
~.,znneso~ together ~,~ith the customery no-litigation cer~zfzc~,~e,
and melzver~ ~ili be made v;ithin forty days aftoz~ acceptance of
bid. Such delivery ~ii! be made ~:~ ~"-~-- ~}~
.... z~.~e oizo or St. Paul,
Hfnnes__ o~,~ or Chicago, _r!~inois,_ ~;itho-~.t cost to tho purchaser,'
delivery else~fi~ere to be o~
~ the ~u~c~aser's e::mense
Sealed bids mss, l:ed "!id fop Porma. ne~t !mp~ovement 'ie~o!~ imS
Fund Betide" may be mailed o~- other~ise ,.~eazweree to ~e undersigned,
but must be received by him pz'ior to the time of' said meeting.
E8. c~. bid must be uucondit=on~.! e.~ce~ ..... as to the bo~ds bei~%7 issued
and delivered w~th ss~d o~i~ amd no-!i~' ~ ·
conformity ~.~ith this ~otice, end eaol~ h-id must be s. ccom~:n_ed~ ~ - 'oy
a certified check ca~ cashier's chec~c paysbie to the order of
"~'he City Treastm~er of Coiumbis Hei[fhts~ i(innesota" dragon on a
responsible ba~ ~n the a~o~t of ~.i3,000~ to be ~ ~ ~
li~aza~.ted.~ damsges in case t~e bid is accepted ~.nc. ~ ~ the bidder shs~ ....
fail '~o comply t[-~ere~;ith, bids must specify the desired i:~eres2
rato~ or not to e~ceed three
· ~oes, each in s~ i~togrs! multiple
of i/~ or !/!0 of o~e per ce~t per a~l~um~ tho mate to be uniform
for al! bonds of a common mst~?ity. Z~ additio'a thereto, shy bid
maT ca!! for ~.?.a_t
coupons, on sny or
due date or dates.
(tot~ imterest to
t, to he represe'ated bit sopnrate
mcTab!e on sP_y above smecified interest
~ferir.~ the !o~cest ~zet interest cost
less any premium offered) rill be deemed
the most _.=~.~or=.~ie. _~o oral bid or l-id of less tks'~, pst
interest accrued from October !, 1961, to the date of bond deliverl
, ~.~a the
will be considered. ~_e rz~h~, to reject any snd sit bids
...... ye informalities in ~'~ bid sre reserved.
right to ....
~ ~o6!'
Dated at Co!~mmbia Ne~}~ts Nir_nesotc, ,~u~st 1~,
.;=~zoOz.
N~CO~i C. ~' m
City ~,r ....
5. Each and c]q of ~ne terms ~' * _
~p_a nrovisiotls of tho
__ =~ _ O_
form of notice are hereby s. dopted and confirmed ss the terms snd
oonditior~ ~ .
~or said bonc%s end for the sale t!zereof
~. This resolution shall be vubiished in the officisl
paper ~,rithin !5 days after its'~=~o~.ee~ ~ ~" ~ ~ sma shall e~-~=.~ e~ect
~..z oe~_~ ts passage, ltllless s'c.s~eneed '~--~,, a referend~m~ netitio~_,
and upor~ so ~ ..... ~= effect ~hs!l operate t¢
v~.!ma~.te suy~.~._~ sil actioP~ of the '~2tF~ offioers theretofore
taken ~.rhich are hereim suthoPizod or directed to be
Passed: August 14, 1961
Offered by McC!ine
Seconded by Nawrocki
Roll Call - All Ayes.
Secretary to City Council