HomeMy WebLinkAboutJul 30, 1957A letter was received from Y.~[. Sba/'fer :letQ. Zs'~a':s.:'~inc. ,?:£{~ring f:.r sale to
the City o~ Co!s:.fuia Helghts~ the ,%orthcas'~'. corner of 4~th 5 Cer~tral~ ts be used
fcra nc?~ i i~icipa! Building.
'~- ' King seconded b~-J~ko~.~ski~ ti~st t)~:hx ].si-,t~r -' ..... d
on file. Roll Ca~ - Ail Ayes.
k letter ~ms recelved £rcm Dr. i'f.J. 'Sarr: stati:~g ][.V. O!so:% Zl~ney Johnson sad
jiLl, self ~rot'2.d lihe nsrmission to tap in on
....~r~ve i?. ~ioun~svie?r To;msLip. ~'~'~' :~,..,_~-' ~,-as s~e: ~e''rem- ' runt. i! :,-.:' e ' 'e'o .... .... ~ng of August 12t~,
Motion by Ju!hcwski ssconded by King~ that the ;~atter of request to connect to
o':~' ~mter on Lsj:evi.sw drlvc., be l~i'"., on the ~.~a~'~",.e.- Re!! Sail - ,~J! .?es.
application was received for a used car Lot Lice"tse for !.[027 Oe:':tral Avende.
Mcti¢.n by J-a!ko,,~ski seconded by Chios, that a license he grante~ to Bob 5ergstrou,
402g Central, for a used car lot. Roll call - Ail ayes.
The :~ley west of Central, h. etween 4Otb ,mud 4!st ?ms rcporzed in bad co!'~dition.
Everett' ~'.~ll~n~"~ :.;as .mz~oe.~t',~o ' and ashed t v'~,t' his -:rooerty. ~ at 40th University be
r~-zoned to i:~dustrial for his trucking oporatiohs. He ~.~as asked to bring i~
a Petition to the next neeting from the residents ~.:lthin 300 feet, stating t4%;
have no objections to such re-zonin4.
Motion b~: ,~uli-,~'.~t'i seconded by King, that the ~:eeting adjo .... at 12:20
Roil Call - Ail
Secreta~r to the Co~,mci!
Meeting called to order at § P.M.
present. Holm, Xing - absent.
RoLl Ca~- Cheis, Julkowski, Stopka-
One bid was received on Bond Sale for $750,000.00 frc~ J.M. Dain & Co. Inc.
and Associates. This bid was turned over to our City Attorney for further
study and to be t~ken ~p later on in the meeting.
Bids were received for Street surfacing from the following:
J.V. Gleason~ 2701 Lo--~-4-~a, Ave., St~ouis Park,Minn.
Bury & Carlson, 1 - lPth Awe. So., Minneapolis 4,Minn.
Craig J. Alexander, 4641 Hia~mtha Ave., Minneapolis,Minn.
Ray Sina Contr. Co. 403 - 8th Ave. N.W., New Brighton, Minn.
C.S. McCrossan,~. 4800 Osseo Road, Minneapolis, Minn.
Ja~ W. Craig Co., 1814 California St.N.E., Minneapolis, Minn.
Motion by Julkows~iseconded by Okies, that these bids be turned over to the City
Manager for tabulation and that a special meeting be held August 2nd, at 6:30 p.m.
for the purpose of awarding bid on street surfacing. Roll Call - All AFes.
Disposition of Tractor 'Bids. It was the Engineer,s recommendation, m~d als0 the
City Manager, that we purchase the Ford Major Diesel~ l~odel F~S)-UI4, with Power
Steering and Fluid ia Rear Tires at_a total cost of $2505.60, from Mid~ay Ford Tractor.
Motion by Chies~ seconded by Julkowski, that we accept this bid from Mid~m~ Ford
Tractor Co. at $2505.60. Roll Call - Ail Ayes. ~
A recess was called at 8:40 P.~. I~eet~ called to order at 9:05 p.m.
Notion by Julko~ski seconded by Chics, that Lametti & ;Sons be paid the sum o£
$50,000.00 out of the proper f~nds. Roll Call - Ail Ayes.
Motion ~ Julkowski seconded by ~hies~ that the meeting recess until July 31st.
Rol~ Call - Ail Ayes.
Recessed meeting called .to order July 31st at 3:00 P.M. Roll Call -Chics,
julkowski, Stopka - PresetS.
Also. present were R.L. Ernest City I~nager and Joseph E. Wargo, City Attorney.
The matter of bid received on Bond Issue in amount of $750,000.00 from J. M. Dain& Co.
Inc. and Associates was taken up and the City Attorney. was asked for his opinion...Er.
~argo submitted his 'opinion to bhe Council and~the matter was discussed. .Ih was de-
cided that in view of the fact that the money .is needed immediately, it is.necessary
and expedie~nt that this bid be accepted.
............... ~o~nci-~-~ Chie~ then introduced -~--NO. B2 consisting of 7~0 coupons!
After consideration of the bids by
the Council, Councilman Julkowski
presented and read the following res-
olution and moved it~ adoption:
RESOLUTIOn' A~¥A~DIlq'G SALE
OF $7~0,000
I~ROY~Y
FU~D BONDS
BE IT RESOLd'ED by the City
Council of the City of Columbia
Heights, Minn~ota, that ~he bid
J. M. D~in & Company, Inc,, of ~he
City of Minneapolis, Minnesota, and
associates named ~herein, to purchase
$750,600 Permanent ~mprovement ~e-
relying Fund Bonds of the City to be
da~ed ~q of September 1, 1957, and
be issued in accordance with the no-
tic~ calling for bids thereon, is hereby
found and determined ~o be the bid
mos~ favorable to the City received
pursuant to due advertisemen~ ~here-
for, and ~hou]d be and Is hereby ac-
cepted, said bid being to purchase the
bonds at a price of par plus accrued
interes~ plus a premium of $ none for
bonds bearing intere~t as follows: ·
Years of Ma~rlty Interest Rate
1958 to 1963 ~nclusive
1964 to 1972 inclusive 4,50%
Plus 11/2% per annum to be
~ pressed by an extra cou~n on
bonds ~or the period December 1, ~957
to June ~, 1959.
B~ IT FURTHER RESOLVED that
the Mayor and City Manager are
thorized and directed to endorse an
acceptance on said bid nnd on a copy
thereof, and to return such copy to the
. successful bidder. ~e good faith check
of said bidder shall be re~ained by the
City Tre~urer pending completion and
delivery of the bonds; and the good
. fal[h checks of other bidders shall be
~ forthwith returned to them,
JOHN P. STOPI(A,
Mayor
Attest: ~VA
Seerotary of Council'
~h0 motion for the adootion of the
~ forogoing re~olufion was ~u17 ~eeon&
~ ed b~ Uounetlman Chief, and on vote
'. bel~g taken thereon the following
, ~oted
7ulkowskL Ch~o~, Stopk~;
anti t~e following voted ~0:
None
'whoreupon ~aid ro~olu[~on wa8
duly pas~ed and adopted, and was
, signed and attested by the Mayor and
: ~eeretary.~ ~ - --
the following resolution and moved its
adoption, which proposed resolution
was thereupon read:
~_ RESOLUTION FIXING THE
FO~M~ AND DET~ OF $7~0,000
~RMA~E~ ~p~O~E~NT
REVOL~ING ~UND BO~S,
~ECT~ THE~
BE IT ~ESOL~D by the City
Council of the Ci~y. of Columbi~
~eigh~, Minnesota, as follows:
1. The City of Columbl~ ~etghts
sh~ll forth~lth issue ~nd deliver its
negotiable coupon Permanent Improve-
ment Revolving Fun~ Bonds in the
greg~te principal ~mount of
d~ted ~ of September L 19~7, said
bonds to be 7~0 in number, numbered 1
to 7~0, inclusive, 'e~ch in the denomin-
ation of $1,000, and said bonds shall
mature serially In the amount of
$~0,000 on December 1 tn each of the
years 1958 through 1972, all without
option of prior payment. Said bonds
shall bear interest payable June 1,
1958, ~nd semiannually ther~fter oh
each December 1 and June 1, ~t the
follo~ng rates:
Serial
l~.umbers
1 to 50
51to 100
lO1 to 150
151 to 200
201 to 250
251 to 300
301 to 356
351 to 400
401 to 450
451 to 500
501 to 550
551 to 600
601 to 650
651 to 700
701 to 750
~%taturlty Interest
Years Rate
December 1, 1958 4.00%
December 1. 1959 4.09
December 1, 1960 4.00
December 1,. 1961 4.00
December 1, 1962 4.90
December 1, 1963 4.00
December 1, 1964 4.50
December 1, 1965 4.50
December 1, 1966 4.50
December 1, 1967 4.50
December 1, 1968 4.50
December 1, 1969 4.50
December 1, 1970 4.50
December 1, 1971 4.50
December 1, 1972 4.50
Plus 1 1/2% per annum to be ex-
pressed by an extra coupon on all
bonds for the period December 1, 1957
to 3une 1, 1959, as follows:
Cpn No. BI consisting of 750 coupon~
of $7.50 each due June 1, 1958
of $7.50 each due Dec. 1, 1958
C No. B3 consisting of 700 couponsI
of $7.50 each due June 1, 1959
Both brincipal and interest shall
~ payable at Northwestern National~
Bank, in Mineapolis, Minnesota. and~
the City agrees to pay the reasonable;
and customary charges of such institu-
tion for its services as paying agent
2. Said bonds and the interest eon-
Dons to be thereto attached shall be tn
substantially the following form: '
UNITED STATES '0F ~E~ICA
C0~TY OF X~0~
CITY OF COL~[BIA HEIOHTS
P~R~ANENT L~[PROVEMENT
REVOLVING FU~D BOND
KNOIV ALL MEN BY THESE
PRESENTS that the City of Columbia'
Heights, Anoka County, Minnesota,
acknowledges itself lo be indebted and
for value received promises to pay to$
bearer ~he sum of ONE THOUSAND
DOLLARS on the 1st day o~ Decem-
ber, 19 ..... without option of prior~
payment, and ~o pay interest thereon,
from ~he date hereof until the princi-
pal sum is paid, at the rate of Four
per cent (.i%) per annum, payable
'June 1, 1958, and semiannually there-
after on each December I and June 1,
o~ each year tbrough December, 1963.
Interest at 4.~0% thereafter until De-
cember 1972, together ~ith I 1/2~ per
annum coupon on all bonds for the
period December 1, 1957 to June 1, ~959.
Interest to maturity being payable in
accordance with and upon present~-
, tion and surrender of ~he interest cou-
pons appurtenant hereto as they sev-
erally become due. Both principal and
interest are payable at Northwestern
National Bank, in Mhmeat~lis, ~inue-
sots, in any coin or currency of
UnReal States of America which at the
time of payment Is legal tender for
public and private debts. For the
prompt and full payment of such prin-
cipal and interest as they respectively
become due, the ~ull faith, credit, and
unlimited taxing powers of the City
have been and are hereby irrevocably:
p~dged. ~ ~
This b0~-~- ~)n~ ~)f an issue in the
total principal amount of $750,000, all
of like date. and tenor except as to
serial number~ and maturity dates and
interest rate, .all issued by said City
for the purpose of providing funds for
improvements of a lasting character
including installation of paving, curbs.
gutters, storm sewers, and water linc
and sewer line extensions and a trunk
sanitary sewer, all as authorized by an
ordinance duly adopted by four-fifths
vote of th~ Council, and pursuant to
and in full conformity with the Con-
stitution and laws of the State of Min-
nesota and the Home Rule Charter of
said City thereunto enabling.
IT IS HEREBY CERTIFIED AND
RECITED that all acts, conditions and
things required by the Constitution
and laws of the State of Minnesota
and the Home l~ulo Charter of said
City to be done, to happen, to exist and
to be performed precedent to and in
the issuance of this bond, in order to
make it the valid and binding general
obligation of said City according to it~
terms, have been done, have happened,
do exist and l~ave been performed in
regular and due form, time and man-
ner as required by law; that, prior to
the issuance of this bond, a direct, an-
nual, ad valorem tax has been duly
levied upon all et the taxable property
in said City for the years and in
amounts as required by law, and addi-
tional taxes, if needed for payment of
said principal or interest, will be levied
upon all of said property without limi-
tation as to rate or amount: and that
the issuance of this bond did not cause
the indebtedness of the City tc exceed
any constitutional, statutory or Char-
ter limitation.
IN WITNESS-WHEREOF the City
of Columbia Heights, Minnesota, by
its Council, has caused this bond to be
executed in its behalf by the signature
of the Mayor, attested by the ~ity
Manager, and its corporate seal to be
herelo affixed, and has caused the
tached inter~t coupon~ to be executed
and authenticated by facsimiles of the
signatures of said officers, ail as of
September 1, 1957.
JOHN P. STOPKA
Mayor
Attest: R. L. ERNEST, City Manager
(SEAL)
(Form of Coupoa)
No ......... $ ..........
On the ~st day of June (December),
19 ..... th9 City of Columbia Heights,
Minnesota, will pay to bearer at Nortl'
western N~tional Bank, in Minneavolis,
the sum of .............. DOLLARS
for interest then 'due on its Permanent
Improvement Revolving Fund Bond
dated September 1, 1957, No .........
(Facsimile ~gnature)
Mayor
Attest: (b~acsimile signature)
~ City Manager
Each Bond to have attached 1 1/2%
per annum coupon for a period Decem-
ber 1, 1957 to June 1, 1959. Said bonds
shall be forthwith prepared for execu-
tion under direction of the City Mana-
ger and attorneys, and shall thereupon
be executed in behalf of the City-
the signature of the Mayor, attested
by the City Manager, and sealed with
the official corporate seal; and the
terest coupons shall be execute~q and
authenticated by printed fa(.sim~!o~
the signatures of said officers.
the bonds have been so executed, the
City Treasurer shall deliver them. nr
cause them to be delivered, to the pur-
chasers upon receipt of the purchase
price heretofore agreed UpOl!, ;~_nd th~
purchasers shall not be obligated to
to the application of such purchaso
price.
4. The full faith and credit of
City and its unlimited taxing powers
are hereby irrevocably pledged to the
prompt and full payment of the prim.i-
pal of and interest on each and all
said bonds as such principal and
terest become due. In compliance with
Minnesota Statutes, and in order to
provide moneys for the payment of
principal of and interest on the bonds,
there shall be and is hereby levied
upon all of the taxable propertie~,
the City a direct, annual, ad valore'~
tax to be spread upon the tax rolls,
and collected with and as a part nf
other general City taxes, in the year:;
1957 through 1971 (collectible i~ the
respective next ensuing years) in the
years and amounts as follows:
Years A nioual
1958 ~llO,OOO.O0
1959 97,000.00
1960
1961 86,000.00
1962 83,000.00
1963 80,000.00
196-I 77,000.00
1965 74,000.00
1966 71.000.~
1967 6g,000.0O
1968 65,000.00
1969 62,000.00
1970 59,000.00
1971 56,000.00
1972 53,000.00
Said levies shall be irrepealable until
the full principal and interest on all of
the bonds of said issue shall have been
paid; provided that, when and if other
moneys are available or shall be avail-
able in the special sinking fund to pay
the principal and interest of the bonds;
the City Manager shall certify such
amount to the County Auditor of ~&no-
ka County on or before October 15 in
any year, and thereupon the amounts
to be extended upon the next ensuing
tax rolls for said bonds shah be re-
duced accordingly.
5. There is hereby created a separ-
ate "Sinking Fund Account for
$750,000 Permanent Improvement Re-
volving Fund Bonds" in the general
sinking fund of the City, into which
account shrill be paid the proceeds of
the foregoing levies and any accrued
interest and principal received upon
the delivery of said bonds, and such
other moneys as may from time to
time be directed to be used for the
payment of said bonds, including the
proceeds of collections of all special
as."sssments Ievied for the improve-
ments for which the proceeds of said
bonds are used to pay. Out of s~id ac-
count shall be paid the interest on and
principal of the bonds of this issue as
such principal and interest become due.
Said account shall be used for no other
purpose until all of said bonds have
been paid, save and except that if any
payment of principal or interest shall
become due on any of said bonds when
moneys in the sinking fund accoun~
are insufficient therefor, such payment
shall be made by advances out of any
other fund of the City and such funds
may be reimbursed out of said account
when moneys are available therein.
6. The Secretary of the Council is
directed to cause a copy of this resolu-
tion, certified by the Secretary, to be
flied in the office of the County Audi-
tor of Anoka County, Minnesota, and
to obtain from such Auditor the certi-
ficate required by law respecting the
filing thereof and entry of the bends
on his register.
7. The County officers of Anoka
County and the officers of the City are
authorized and directed to furnish to
the purchasers of said bonds, and to
the attorneys approving the legality
thereof, certified copies of all proceed-
ings and records of the City relating
to the bonds and to the financial af-
fairs of the City and such otnec certi-
ficates or affidavits as may be r~-
quired to show the facts as to the
power and authority of the City to is-
' sue said bonds as shown by the books
and records under their custody and
~ontrol or' as otherwise known to shch
officers; and such certified copies, cer-
tificates and affidavits, includin~ any~
heretofore furnished, shall be deemed
representations of the City as to the
truth of the facts purported to be
shown thereby.
8. This resolution shall be published
in the official newspaper within 15
days after its passage, and shall take
effect 9~ days after its passage unless
suspended by a referendum petition,
and upon so taking effect shall oper-
ate to ratify, confirm and validate any
and all actions of the City officers
theretofore taken which are herein
authorized or directed to be done.
Appr.oved: JOHN P. STOPKA
Mayor
Passed July 90, 1957
Attest: EVA PRITCHARD
Secretary of City Council
The motion for,the adoption of the
foregoing resolution was duly second-
ed by Councilman Julkowski, and on
vote being taken thereon, the follow-
ing voted AYE:
Chics, Julkowski, Stopt~a;
and the following' voted NO:
None
whereupon said resolution was de-
clared duly passed and iadopted, and
was signed and attested by the Mayor
and Secretary.
August 8, 1957,
Resolution authorizing the City Treasurer to purchase City of Col~,~bia Heights Perm-
anent Imprevement Revolving Fund Bonds, dated September 1, 1957 and maturing ~50,000.
in 1968 through 1972 inclusive, yielding the Sinking Fund a net rate ef ~%. Offered
by Julkewski, seconded by Chios. Roll Call - All Ayes.
Motion by Julkewski, seconded by Chios, te adjourn. Rell~Call - All ayes.
~ , , ' '/'~~ ~ '. ,. ~..~_ -~ ;...~
secretary the Council