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A special meeting of the Village Council was called to order <br />at 8:00 P.M., Monday, May 25, 1960, at the village office at 5499 <br />Adams Street, New Brighton 12, Minnesota. <br />Present: <br />Mayor: <br />Clerk: <br />Trustees: <br />PROCEEDINGS OF THE VILLAGE COUNCIL 'C 'uU� <br />VILLAGE OF MOUNDS VIEW <br />RAMSEY COUNTY, MINNESOTA <br />May 25, 1960 <br />Allan B. Crane <br />Earl E. Smith <br />Melford C. Christensen <br />Donald Hodges <br />Richard Meyers <br />Robert Ahlers <br />Perry Malvin <br />Clerk Smith opened the sea1ed bidefbrwater construction bonds <br />which was read by Mr. Ahlers: Bids were received from Allison <br />Williams Company, Juran Moody; and John Nuveen and Company. <br />Attorney: <br />Fiscal Agent: <br />Absent: Trustee <br />The meeting was then recessed at 8:18 P.M. to check bids. <br />The meeting reconvened at 8 :26 P.M. The Mayor asked if there <br />were any more bids for bonds to be submitted to the council. <br />Receiving none, he declared the time of acception for bids closed <br />at 8:00 P.M. <br />It was recommended by Mr. Ahlers to accept the lowest bid <br />made by Juran Moody of $271,115.00 which carried a net rate of <br />interest payment at 4.3923%. Motion by Hodges, seconded by <br />Christensen to award the sale of $615,000 general obligation <br />improvement bonds to Juran Moody. 4 ayes, moiiou carried. <br />The meeting +as then recessed again at 8:43 F.M. to meet with <br />members of the recreation committee. <br />P.M. <br />The meeting reoonvened at 9 :33 P.M. <br />Motion by Chriiteuaen, seconded by Hodges to approve Ordinance <br />#68 establishing the improvement bond redemption fund of the village <br />of Mounds View and the conditions and procedure for the issuance <br />and ocvenants for the security of bonds payable from that fund. <br />4 ayes, motion carried. <br />Motion by Hodges, seconded by Crane to adopt resolution <br />authorizing the issuance, sale and delivery of $615,000 Waterworks <br />Improvement bonds, payable from the improvement bond redemption <br />fund and appropriating special assessments and taxes to that fund <br />for the payment of such bonds. 4 ayes, motion carried. <br />Motion by Christensen, seconded by Hodges to adjourn at 10:25 <br />subm ted, <br />Earl E. Smith, Village Clerk <br />