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<br />SPECIAL MEETING, TUESDAY, JUNE 25, 1957
<br />Meeting called to order at 7:30 P.M., the following council members being present:
<br />William R. Utecht, Mayor; George J. Shavor, Trustee; Harold C. Nilsen,-Trustee;
<br />Willis Warkentien, Trustee;-Clyde J. Stewart, Clerk. Also present: William E.
<br />Olsen, Treasurer and Frank N. Graham, Attorney.
<br />The Village Clerk presented to the
<br />of the Notice of Sale of the X900,000 Sanit
<br />in the Rose Tribune, the official newspaper o
<br />West, pursuant to las.
<br />Council, affidavits shaving publication
<br />ary Sewer System Improvement No. 1 bonds
<br />f the Village, and in the Commercial
<br />The Clerk then reported that one sealed bid had been received by him prior
<br />to the time of the meeting. This bid was then publicly opened, examined and found
<br />to be as follows:
<br />The bid was submitted by First National Bank, Saint Paul, Minnesota, and
<br />American National Bank, Saint Paul, Minnesota, as co-managers of a group including
<br />the following:
<br />Juran & Moody, Inc,, St Paul, Minnesota
<br />Kalman & Company, Minneapolis, Minnesota
<br />John Nuveen & Company, Chicago, Illinois
<br />Allison Williams Company, Minneapolis, Minnesota
<br />J. M. Dain & Company, Minneapolis, Minnesota
<br />Piper, Jaffray & Hopwood, Minneapolis, Minnesota
<br />E. J. Prescott & Company, Minneapolis, Minnesota
<br />Caldwell Phillips Company, St Paul, Minnesota
<br />Mannheimer-Egan, Inc., St Paul, Minnesota
<br />Shaughnessy & Company, St Paul, Minnesota
<br />Harold E. Wood & Company, St Paul, Minnesota
<br />The bid provided for an interest rate of 4.00 per annum for bonds maturing January 1,
<br />1959 to January 1, 1965, inclusive; lt.50~ for bonds maturing January 1, 1966 to
<br />January 1, 1970, inclusive, and 1~.75~ per annuam for bonds maturing January 1, 1971
<br />to January 1, 1978, inclusive, plus 1.25 per annum by extra coupons on 810 bonds
<br />maturing from January 1, 1961 to January 1, 1978, inclusive, for the period from
<br />January 1, 1958 to January 1, 1961, consisting of extra coupons of X6.25 each, due
<br />7-1-58, 1-1-59, ?-1-59, 1-1-60, 7-1-60 and 1-1-61. There was no premium offered
<br />and the bid provided that principal and interest be paid at American National Bank,
<br />St Paul, Minnesota. Cashier's check of American National Bank in the amount of X18,000
<br />was submitted with the bid.
<br />After consideration of the foregoing bid, Mayor Utecht introduced the
<br />following Resolution and moved its adoption:
<br />RESOLUTION
<br />A Resolution awarding the sale of
<br />X900,000 Sanitary Sewer System Improve-
<br />ment No. 1 Bonds.
<br />WHEREAS, on the 27th day of May, 1957, the Village Clerk was directed
<br />to advertise for bids for the purchase of X900,000 Sanitary Sewer System Improvement
<br />No. 1 bonds of the Village of Falcon Heights to be issued for local improvement
<br />purposes; and
<br />WHEREAS, said advertisement was duly published and the following bid yeas
<br />received anoci bpeged and appears to be in proper form:
<br />
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