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HomeMy WebLinkAboutSeptember 20, 1949petty Cash Fund American Linen Co. Wm. Bros. Boiler l~'~g. Jay W. Craig Crown Iron Works Goodin Co. Johnson Auto Supply Miller-Davis Co. Rocket 0il Co. Royal Typewriter Co. Standard 0il Co. Warner Hardware Kindem-Erickson Lbr. Co. Auto Elec. Supply Co. ~,;229.88 6.01 104.7b 1,906.50 8.00 261.46 27.51 15.50 25V.25 131.75 53.50 25.21 © A.E.C. Oxygen Rental Set. $ 13.50 Bury & Carls on Robert Brooking Coast to Coast Stores Eckhart Brass Mfg. Hei~hts Electric Co. Leer Bros. Inc. ~ pioneer Engineering Works Rosenwald-Cooper Rosholt Equipment Co. U. S. Supply Co. Worthington Pump &Mach. 297.01 10.00 57.28 292.63 8.60 i~00 6.65 16.10 23.60 3.38 74.52 Motion By Lange Seconded by Trench that the bills be paid out of their proper funds. Roll Call-All Ayes First reading of Ordinance #257 being an ordinance authorizing the sale by the City of Columbia Heights of certain real estate known as Lot 8 Block 4 Second Subdivision of Block "F", Columbia Heights Annex to ~inneapolis Eotion to adjourn. EdWard R~fe~[, ~Secretary September 20, 1949 OFFICIAL PR0 CEF~INGS Special. Meeting Special Meeting was called to order at 8 P.M. for the purpose of opening bids on Purchase of Bonds and Purchase of Road Gravel and such other business as may come before the. meeting. All members were present. Opening of Bids for Purchase of Bonds: J.M. Dain and Company---2½ % 1952-1955 incl. 2.70% 1956-1962 incl. plus a premium of $355.00. No~thwesternNational Bank---2.25% 1952-1956 incl. 2.9% 1957-1962 incl. plus a premium orS406.25. Resolution offered byYencho seconded bySpekulant awarding the sale of $325,000.00 Permanent Improvement Revolving Fund Bonds, to the J.M. Dain& Company. Be it Resolved bythe City Council of the City of Columbia Heights, Minnesota, that the bid of J.M. Dain& Company, of Minneapolis, Minnesota to purchase $325,000.00 Permanent Improvement Revolving Fund Bonds as advertised for sale pursuant to a resolution of tkis council, which bid is to pay $325,000.00 for bonds bearing interest at the rate of 2½4 1952-1955 incl. and 2.70% 1956-1962 inclusive plus a premium of $355.00 is hereby found to be the most favorable bid received, and shall be and is hereby accepted. BE IT FURTHER EESOLVED that the City Manager shall return the ~ood faith checks of all other bidders and retain the check of said successful bidder until delivery of the bonds. Roll Call-All Ayes. Resolution offered by Yencho seconded by Trench fixing the form and details of $325,000.00 Permanent Improvement Revolving Fund Bonds, directing their execution and delivery and levying a tax for their payment. BE IT RESOLVED by the City Council of the City of Columbia Heights, Minnesota as follows: 1. The City of Columbia Heights shall forthwith issue and deliver its negotiable coupon Permanent Improvement Revolving Fund Bonds in the aggregate principal amount of $325,000.00 dated August l~ 19~9, said bonds to be 325 in number and numbered from I to 325, both inclusive, in the denomination of $1,000 each, to bear interest at the rate of 2½% 1952-195~ incl. and 2.70% 1956-1962 incl. payable semiannually on the 1st day of February and the 1st day of August in each year, and to mature serially in order of serial numbers, lowest numbers first, on August 1st in the years and amounts as follows: $30~000 in each of the years 1952 to 1961, both inclusive~ and $25,000 in 1762, all without option of prior payment. Both principal am_d interest on said bonds shall be payable at First National Bank of Minneapolis and the city shall pay the reasonable charges of such bank for acting as paying agent. 2. The bonds and the interest coupons to be attached thereto shall be in the form set forth in Ordinance No. 252. 3. The City Manager shall cause said bonds bo be printed at the cost of the city, and said bonds shall be executed in behalf of the city by the mayor and city manager and shall be sealed with the official corporate seal~ and said coupons shall be executed and authenticated by the printed, engraved or lithographed facsimile signatures ~of said officers. When said bonds have been so executed they shall be delivered to the purchaser thereof upon receipt of the purchase price and the purchaser shall not be obligated to see to the proper application of such purchase price beyond its payment to the city. ~.~ The full faith and credit of the city are hereby irrevocably pledged to the prompt and full payment of the principal of and interest on said bonds as such principal and interest become due. In compliance with Ninnesota Statutes and in order to provide moneys for the payment of the principal and interest on said bonds there shall be and is hereby levied upon all the taxable property in said city a direct, annual ad valorem tax to be spread upon the tax rolls and collected with and as a part of other general city taxes in the years and amounts as follows: 19~9 $18,000.00 1953 $38,000.00 1957 $3~700.00 1~5o ~o,5oo.oo 195~ 37,~oo.oo 1958 33,8oo.oo 1751 ~800.00 1955 36,h00.00 1959 33,000.00 1752 38,900.00 -~956 35,500.00 1960 27,000.00 Said levy shall be irrepealable provided that when and if other moneys are available or shall be made available in the special sink~_ug fund to pay said principal and interest, the city manager shall certify such amount to the County Auditor of Anoka County on or before October 15th of any year and airect him to reduce or cancil said levy. There is hereby created a separate sinking fund for the payment of the principal and interest on said bonds into w~ich shall be paid the proceeds of the foregoing levies and such other sums as may be directed to be used for the payment of said bonds and out of which fUnd there shall be paid the in- terest on and principal of said bonds as Such principal and interest become due~ and said fund shall be ~lsed for no other purpose until all of said bonds have been paid. 6. The secretary of the council is hereby directed to cause a copy of this resolution~ certified by the secretary, to be filed in the office of the County Auditor of Anoka County, Minnesota, ~and to obtain from him the certificate req~uired by Minnesota Statutes. 7. The city manager is authorized and directed to furnish to the purchaser of said bonds and to the attorneys approving the same certified copies of all prooceed- ings and records of the city relating to said bonds and to the financial affairs of the city and such other certificates as may be required to show the facts as to the power ~nd authority of the city to issue said bonds within his knowledge or as sho~ by the boOks and records under his control and custody, and such certified copies and certificates shall be deemed representatio~ of the city as to the facts stated therein. Roll Call - All Ayes. Opening of bids for purchase of road gravel: Chet Herringer~725 per cubic yard, 2% discount ten days. Motion by~La~ge ~econded b~ Trench to accept the bid of Chet Herringer for 3000 yards~of road gravel at 72~ per cubic yard with a discount of ~% in lO days. Roll Call - All Ayes. Motion by Yencho seconded by Trench that permission be given the Columbia Heights Activities Committee to use the Park grounds for the Centennial Roundup and Rodeo to be held September 24th and 25th. Roll Call - All Ayes. There was discussion by the Council about bus transportation in the city and the prospects of extension thereof. City Manager inquired about renewal of lease for off-sale liquor store. Notion by Trench seconded byYencho that City ~anager and City Attorney be instructed to negotiate a new lease for 6ff-sale liquor store. Roll Call- All Ayes. Motion by Municipal advertise No~ion by Yencho seconded by Trench that W.J. Rowan be engaged to check on Liquor Store. Roll. Call - All Ayes. Lange seconded by Spekulant that city manager be instructed to for bids for pumping station. Roll Call - ALl Ayes. Trench seconded by Lange to adjourn~L~ ~~ /J~ Secretary to'the Council-Pro-tem