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HomeMy WebLinkAboutResolution 0043EXTRACT OF MINUTES OF MEETING OF THE VILLAGE COUNCIL OF THE VILLAGE OF MOUNDS VIEW, MINNESOTA elibk Pursuant to due call and notice thereof, a regular meeting of the Village Council of the Village of Mounds View, Minnesota, was held at the Red Oak School in the Village of Mounds View, on Monday, May 9, 1960, at 8:00 o'clock P.M., with the following members present: Crane, Smith, Hodges, Christensen Malvin and the following members absent: None. The engineers, Comstock and Davis, then reported their findings regarding construction bids received on Monday, May 2, 1960, for construction of Waterworks Improvement No. 1960 -1. The council then considered said report and the plan of financing. and moved its adoption: SCHEDULE Tower and Tank, type 5, low Tower and Tank, type 2, 2nd low Watermains and appurtenances, low Watermains and appurtenances Well Well Member Smith introduced the following resolution RESOLUTION ORDERING WATERWORKS IMPROVEMENT NO 1960 -1; AWARDING CONTRACTS FOR CONSTRUCTION THEREOF AND CALLING FOR THE SALE OF BONDS. BE IT RESOLVED By the Village Council of the Village of Mounds View, Minnesota, as follows: (1) That Waterworks Improvement No. 1960 -1 is hereby ordered. (2) That it is hereby found, determined and declared that the lowest two bids submitted by responsible contractors for the construction of the respective schedules of work of said improve- ment are as follows: BIDDER Chicago Bridge Iron Co. Chicago, Illinois Graver Tank Company Chicago, Illinois Lametti Sons, Inc. St. Paul, Minnesota Kasson Well Drilling Co. Kasson, Minnesota Thein Well Company Clara City, Minnesota Keys Well Drilling Co. St. Paul, Minnesota (3) That the contracts for the construction of Waterworks Improvement No. 1960 -•1 are hereby awarded to the lowest bidder for each respective schedule; and the Clerk is hereby authorized and directed to return the bid deposits of all bidders except the lowest two bidders of each schedule of work. The bid deposits of the lowest two bidders of each respective schedule shall be retained pending the execution of contracts. PRICE 58,905.00 60,665.00 $372,543.15 $386,877.00 30,886.50 31,448.00 (4) The Mayor and Clerk are hereby authorized to enter into contracts with the low bidder for each schedule of work upon said bidder furnishing a satisfactory corporate surety bond conditioned upon the satisfactory performance of the work according to plans and specifications and otherwise as required by law. (5) It is hereby found, determined and declared that the total cost of Waterworks Improvement No. 1960 -1, including con- tract costs, legal engineering and fiscal costs, incidental and contingent costs, land and easement costs and 30,000 for interest during construction is 701=367 that not less than 430.000 of said cost will be assessed against property specially benefited by said improvement, payable in 15 equal annual installments with interest at the rate of 6 per cent per annum from the date of the adoption of said assessments to December 31 of the year in which the first payment is payable, to be added to the first installment, and one year's interest `on the unpaid valance to be added to each subsequent installment; that it is hereby determined that not less than 86,367 of said special assessments will be prepaid and available for payment of construction costs. (6) It is hereby found, determined and declared tha. it is necessary and expedient for the Village to borrow money and issue its general obligation, negotiable coupon, Waterworks Improvement Bonds in the amount of 615,000 and that this Council shall meet at the time and place specified in the form of notice hereinafter contained for the purpose of receiving and con- sidering sealed bids for and awarding the sale of said bonds and that the Clerk is hereby authorized and directed to cause notice of said meeting to be published in the official newspaper and in Commercial West, published in Minneapolis, Minnesota, at least once not later than ten (10) days prior to the date of said meeting, which notice shall be in substantially the following form: -3- NOTICE OF BOND SALE VILLAGE OF MOUNDS VIEW, MINNESOTA $615,000 WATERWORKS IMPROVEMENT BONDS NOTICE IS HEREBY GIVEN That the Village Council of the Village of Mnds View, Minnesota, will meet at the Vil...:3e Offices in said Village on Wednesday, May 25, 1960 8:Ou o'clock P.M. C.: }.S.T., to receive bids and award the sale of $615,000 general obligation, negotiable coupon Waterworks Improvement Bonds of the Village, to be dated July 1, 1960, to bear interest at the rate or rates to be designated by the successful bidder in integral multiples of 1/4 or 1 /10 of 1% per annum, payable on January 1, 1961 and semiannually thereafter, to mature serially on January 1 in the years and amounts as follows: $35,000 in each of the years 1962 through 1976, inclusive; $15,000 in each of the years 1977 through 1982, inclusive; .bonds maturing in the years 1975 through 1982 subject to redemption and r epayment, in inverse numerical order, at the Village's option, on January 1, 1972 or any interest payment date thereafter, at 102 -1/2 and accrued interest. The Village will deliver in Chicago, Illinois, or anywhere in the State of Minnesota, and without cost to the purchaser within 40 days after award, the printed and executed bonds and the unqualified approving legal opinion of Messrs. Dorsey, Owen, Barber, Marquart and Windhorst of Minneapolis, Minnesota. Delivery elsewhere 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 $615,000 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 any period of their term to be represented by supplemental coupons i ided that said interest represented by supplemental coupons shall not aed $12,300. 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 $12,300 payable to the Village Treasurer to be forfeited as liquidated damages should the bid be accepted and the bidder fails to comply therewith. Bids deemed most favorable to the Village will be preferred. No oral bid and no bid of less than par and accrued interest from '21te of issue to date of delivery will be considered and the Council reserves right to reject any and all bids, to waive any informalities and to adjourn the sale. Dated May 9, 1960. BY ORDER OF THE VILLAGE COUNCIL /s/ Earl E. Smith Village Clerk 5499 Adams Street, New Brighton, Minn. ther information may be obtained from and bids may be delivered to EHLERS- S Ao'SOCIATES, Fiscal Agents, 255 Griggs- Midway Building, 1821 University Avenue, St. Paul 4, Minnesota. (7) The terms of said notice are hereby adopted as the terms of said bonds and the sale thereof. STATE OF MINNESOTA COUNTY OF RAMSEY The motion for the adoption of the foregoing resolution was duly seconded by member Malvin the followirg members voted in favor thereof: Crane, Smith, Hodges, Christensen Malvin and the fro hying voted against the same: None. whereupon said resolution was declared passed and adopted. VILLAGE OF MOUNDS VIEW) I, the undersigned, being the duly qualified and acting Clerk of the Village of Mounds Vie*•*, Minnesota, DO HEREBY CERTIFY that. I have carefully compared the attached and foregoing extract of minutes of a meeting of the Village Council of said Village held on the date therein ir_dicated with the original minutes thereof on file in my office and that the same is a full, true and correct transcript thereof insofar as said minutes relate to award- ing contracts, determining costs and calling for the sale of bonds. WITNESS My hand officially and the official seal of the Village this _h day of 1960, (SEAL) SS. f and upon a vote being taxen, VILLAGE CLERK