Minutes - 1960/10/18 - Laserfiche WebLink

Home Browse Search

N3i TI CE ,,OP BOND SALE„ VILLAGE OF MOUNDS VIEW, MINNESOTA 585,000 WATERWORIZS IMP ROVEME NT BOND NOTICE IS HEREBY GIVEN That the Village Council of the Village of Mounds View, Minnesota, will meet at the Village Offices in said Village on: at 8:00 o'clock p.m. C.S.T., to receive bids an d award the sal of 585 000 general obligation, negotiable coupon Waterworks provement Bonds of the Village, to be dated November 1, 1960, t.► bear interest at the rate or rates to be designated by the success ful bidder in integral multiples of 1/4 or 1/10 of 1% per annum, payable on August 1, 1961 and semiannually„ thereafter,, to mature serially on August 1 in the years and amounts as follows: $35,000 in each of the years 1962 through 1977, inclusive $25,000 in the year 1978; with bonds maturing in the years 1974 through 1978 subject to redemption and prepayment, in inverse numerical order, at the Village's option, on February 1, 1972 or any interest payment date thereafter, at 102% and accrued interest. The Village will deliver in Chicago, Illinois, or any- where in the State of Minnesota without cost to the purchaser within 40 days after award the printed and executed bonds and +the unqual ified approving legal opinion of Messrs. Dorsey, Owen, Barber, Marquart and Windhorst of Minneapolis, Minnesota. Delivery else where' will be at the purchaser's expense. Principal and interest will be payable at a suitable bank designated by the successful bidder. Sealed bids marked "Bid for $585,000 Improvement Bonds" may be mailed or delivered to the undersigned Clerk and must be received prior to the time of said meeting. Bidders may specify not to exceed four basic rates of interest to maturity; for bonds having common maturity dates; provided, however, bidders may specify additional interest on all or part of the bonds for any period of their term to be represented by supplemental coupons provided that said interest represented by supplemental coupons shall not exceed $8,775.00. Bids must be unconditional except as to the approving opinion of the above attorneys, and must be accompanied by a cashier's or certified check in the amount of $11,700 payable to the Village Treasurer to be forfeited as liquidated damages should the bid be accepted and the bidder fail to comply therewith.' Bids will be preferred according to lowest net interest cost at the rate or rates offered to maturity deducting any premium offered. No oral bid and no bid of less than par and accrued in- terest from date of issue to date of delivery will be considered and the Council reserves the right to reject any and all bids, to waive any informalities and to adjourn the sale. Dated September 29, 1960 BY ORDER OF THE VILLAGE COUNCIL /s/ Earl E. Smith Village Clerk 5499 Adams Street P.O. New Brighton, Minnesota Further information may be obtained from and bids may delivered to EHLERS -MANN ASSOCIATES, Fiscal Agents, 807 Title Insurance °".Iriinq, 40C South Second Avenue Minneapolis, Minnesota.