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` _ ftE SOLUTION `72 -17
_ EXTRACT OF MINUTES OF MEETING OF THE
VILLAGE COUNCIL OF THE VILLAGE OF
FALCON HEIGHTS, MINNESOTA
.HELD: JULY 13, 1872
Pursuant to due call and notice thereof, a regular
meeting of the Village Council of the Village of Falcon Heights,
Minnesota, was duly held at the Village Hall in said Village on
the 13th day of July , 1972, at 8:00 o'clock P .M.
The following members were present: Mayor Warkentien,
Councilmen Black, Ecklund, Stone.
and the following were absent: Councilman Taylor.
The Council proceeded to open and consider bids
for the sale of $100,000 Municipal Building Revenue Bonds
of 1972. The follwoing bids were received:
• Term of Bid Net
Name of Bidder Interest Discount Interest Cost
SEE ATTACHED TABULATION OF BIDS
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After bids-were considered and discussed, member
Warkentien introduced the following resolution and
moved its adoption:
RESOLUTION 72-17
RESOLUTION ACCEPTING BID ON SALE OF
$100,000 MUNICIPAL BUILDING REVENUE
BONDS OF 1972 AND FIXING INTEREST RATE
BE IT RESOLVED by the Village Council of the
Village of Falcon Heights, Minnesota, as follows:'
1. That the bid of Allison-Williams Company & Assocs.
to purchase $100,000 Municipal Building Revenue Bonds of
1972 of the Village, dated August 1, 1972, at the price
of $98,100.00 and in the denomination of $1,000 each,
is hereby found, determined and declared to be the most
favorable bid received and is hereby accepted, and said
bonds are hereby awarded to said bidder.
2. The bonds maturing and bearing the serial
numbers set 'forth below shall bear interest payable
August 1, 1973 and semiannually thereafter on February
1 and August 1 of each year at the respective rates per
annum set opposite said maturity years and serial numbers:
Maturity Serial Numbers Interest Rate
197.5-1978 1-20 5.50%
1979-1981 21-40 5.75%
1982-1983 41-60 6.00%
1984-1987 61-loo 6.10%
3. Said bonds shall be payable as to principal
and interest at N.W. National Bank of Minneapolis
The motion for theVadoption of the foregoing
resolution was duly seconded by member Black
and upcn a vote being taken thereon, the following voted.
in favor thereof: Warkentien, Black., Stone...
and the following voted. against the same: Ecklund.
Whereupon said resolution was declared duly passed
and adopted.
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After bids were considered and discussed, member
Ma.YOr Warkentien introduced .the following resolution and.
moved its. adoption:
RESOLUTIGN 72-17
RESOLUTION ACCEPTING BID ON SALE OF
$100,000 MUNICIPAL BUILDING REVENUE
BONDS OF 1972 AND FIXING INTEREST RATE
BE IT RESOLVED by the Village Council of the
Village of Falcon Heights, Minnesota, as follows:
1. That the bid of $ ~21~,is~n~~~a Williams Company & Assocs.
to purchase $10.0..,0.00 Municipal Building Revenue-.Bonds of
1972 of the Village, dated August 1, 1972, at the price
of $ 98,100.00 and in the denomination of $1,000 each,
is hereby ound, determined and declared to be the most
favorable bid received and is hereby accepted, and said
bonds are hereby awarded to said bidder.
2. The bonds maturing and bearing the. serial
numbers set forth below shall bear interest payable
August 1, 1973 and semiannually thereafter on February
1 and August 1 of each year at the respective rates per
annum set opposite said maturity years and serial numbers:
Maturity Serial Numbers Interest Rate.
3. Said bonds shall be payable as to principal
and interest at N.` Z~~t.__National Bank of Minneapolis
The motion for the adoption of the foregoing
resolution was duly seconded by member Councilman Black
and upon a vote being taken thereon, the following voted
in favor thereof : Mayor Warkentien, Councilmen Black, Stone.
and the following voted against the same : Councilman Ecklund
Whereupon said resolution was declared d ul passed
and adopted. f)
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Attest: Willis C. A. Trlarkentien, Mayor
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Dewan B. Barnes, C1er -Adminis ra or
TABULATION OF BIDS
$100,000
MUNICIPAL BUILDING REVCNUE BONDS OF 1972
VILLAGE OF FALCON HEIGHTS, MINNESOTA
AWARD:
DATE 0r SALE :
JULY 13, 1972
BIDDi=R INTEREST RATE NET INTEREST
• COST
CRATE
. ALLISON-t;'ILLIP,'•IS COGIPt1''dY S,SOo - .1975_1978
Piper, Jaffray F, Hop~•:ood 5, 75 0 - 1979-1981
6,00°: - 1982-1983
6.10% - 1984-1987
PURCHASE PRICE - a~98,100,00
DIOORE, JUR-1~ F CO?•I?A.VY, INC,
First Selected Securities
5.750 - 1975-1978
6,OOo - .1979-1981
6,25% - 1982-1985
6.40 0 - 1cJ86-1987
PURCH~~~ST P1:ICE - $98,100.00
JURAN ~ AIOOUY, IPJC.
6,00 - 1975-1.978
6-.25% - 1979-1984
.6.500 - 1985-1987
PURCHASE PRICE - $98,100,00
ALLISON-WILLIAMS COMPANY
$G1,877,50
(6,156°,)
. ,,.:: ^
$64,285,00
(6.396%)
$65,537,50
(6.52110).
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