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gr00090_000004_pg094-007
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gr00090_000004_pg094-007
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NOTICE OF BOND SALE <br />VILLAGE OF MOUNDS VIEW, MINNESOTA <br />$585,000 WATERWORKS IMPROVEMENT BONDS <br />NOTICE IS HEREBY GIVEN That the Village Council of the <br />Village of Mounds View, Minnesota, will meet at the Village Offices <br />in said Village on: <br />Tuesday, October 18, 1960 <br />at 8:00 o'clock P.M. C.S.T., to receive bids and award the sale <br />of $585,000 general obligation, negotiable coupon Waterworks Im- <br />provement Bonds of the Village, to be dated November 1, 1960, to <br />bear interest at the rate or rates to be designated by the success- <br />ful bidder in integral multiples of 1/4 or 1 /10 of 1% per annum, <br />payable on August 1, 1961 and semiannually thereafter, to mature <br />serially on August 1 in the years and amounts as follows: <br />$35,000 in each of the years 1962 through 1977, inclusive <br />$25,000 in the year 1978; <br />with bonds maturing in the years 1974 through 1978 subject to <br />redemption and prepayment, in inverse numerical order, at the <br />Village's option, on February 1, 1972 or any interest payment date <br />thereafter, at 102% and accrued interest. <br />The Village will deliver in Chicago, Illinois, or any- <br />where in the State of Minnesota without cost to the purchaser within <br />40 days after award the printed and executed bonds and the unqual- <br />ified approving legal opinion of Messrs. Dorsey, Owen, Barber, <br />Marquart and Windhorst of Minneapolis, Minnesota. Delivery else- <br />where will be at the purchaser's expense. Principal and interest <br />will be payable at a suitable bank designated by the successful <br />bidder. <br />Sealed bids marked "Bid for $585,000 Improvement Bonds" <br />may be mailed or delivered to the undersigned Clerk and must be <br />received prior to the time of said meeting. Bidders may specify <br />not to exceed four basic rates of interest to maturity for bonds <br />having common maturity dates; provided, however, bidders may specify <br />additional interest on all or part of the bonds for any period of <br />their term to be represented by supplemental coupons provided that <br />said interest represented by supplemental coupons shall not exceed <br />$8,775.00. Bids must be unconditional except as to the approving <br />opinion of the above attorneys, and must be accompanied by a <br />cashier's or certified check in the amount of $11,700 payable to <br />the Village Treasurer to be forfeited as liquidated damages should <br />the bid be accepted and the bidder fail to comply therewith. Bids <br />will be preferred according to lowest net interest cost at the rate <br />or rates offered to maturity deducting any premium offered. <br />No oral bid and no bid of less than par and accrued in- <br />terest from date of issue to date of delivery will be considered <br />and the Council reserves the right to reject any and all bids, to <br />waive any informalities and to adjourn the sale. <br />Dated September 29, 1960 <br />BY ORDER OF THE VILLAGE COUNCIL <br />/s/ Earl E. Smith <br />Village Clerk <br />5499 Adams Street <br />P.O. New Brighton, Minnesota <br />Further information may be obtained from and bids may be delivered <br />to EHLERS -MANN & ASSOCIATES, Fiscal. Agents, 807 Title Insurance <br />400 South Second Avenu ?, Minneapolis, Minnesota. <br />
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