HomeMy WebLinkAbout12-11-74 CCMMINUTES OF SPECIAL MEETING OF THE LAKE ELMO CITY COUNCIL-DECEMBER 11, 1974
Meeting called to order at 7:OOPM by Mayor Eder.
Present: Eder, Abercrombie, Shervheim & Pott.
Absent: Brookman.
Also present: Counsel Raleigh.
Park Bond Sale:C.Shervheim presented Resolution R74-35 authorizing sale of
$739,000.00 in Park Bonds to The First National Bank of St.
Paul, the low bidder, and asked council confirmation and
approval of council. Second by.C.Abercrombie, Vote as follows:
C.Abercrombie AYE; C.Shervheim AYE; C.Pott AYE; Mayor
Eder abstained; C.Brookman absent. Carried 3-0.
Adjournment: Motion by C.Shervheim 2nd by C.Pott to adjourn at 7:2OPM.
Carried 4-0.
RECORD
OF BIDS
Bidder
Purchase Price
Interest
% Interest
BancNorthwest
$725,000.00
$645,345.00
6.8785
The First National Bank
725,000.00
637,115.00
6.79082
of St. Paul
Piper, Jaffrey & Hopwood
725,000.00
656,457.50
6.9970
Donald Mehsikomer
City Clerk
Lake Elmo, Minnesota