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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