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MINUTES OF SPECIAL MEETING OF THE LAKE ELMO CITY COUNCIL-DECEMBER 11, 1974 <br />Meeting called to order at 7:OOPM by Mayor Eder. <br />Present: Eder, Abercrombie, Shervheim & Pott. <br />Absent: Brookman. <br />Also present: Counsel Raleigh. <br />Park Bond Sale:C.Shervheim presented Resolution R74-35 authorizing sale of <br />$739,000.00 in Park Bonds to The First National Bank of St. <br />Paul, the low bidder, and asked council confirmation and <br />approval of council. Second by.C.Abercrombie, Vote as follows: <br />C.Abercrombie AYE; C.Shervheim AYE; C.Pott AYE; Mayor <br />Eder abstained; C.Brookman absent. Carried 3-0. <br />Adjournment: Motion by C.Shervheim 2nd by C.Pott to adjourn at 7:2OPM. <br />Carried 4-0. <br />RECORD <br />OF BIDS <br />Bidder <br />Purchase Price <br />Interest <br />% Interest <br />BancNorthwest <br />$725,000.00 <br />$645,345.00 <br />6.8785 <br />The First National Bank <br />725,000.00 <br />637,115.00 <br />6.79082 <br />of St. Paul <br />Piper, Jaffrey & Hopwood <br />725,000.00 <br />656,457.50 <br />6.9970 <br />Donald Mehsikomer <br />City Clerk <br />Lake Elmo, Minnesota <br />