HomeMy WebLinkAboutResolution 0195Form 2523 (1 -65)
At a (special) u.eeting of the rilleig Co COOrallof the Viilige
of
Mounds Yiew duly held on the
following Resolution was offered by
seconded by Hodge s
RES OLUTI DN L'95
0.8 mi. N. of Jet. T.H.10
15 day o f ®■ta refr
P 1 a ncha rr d ,r
Maroc
10 65
Cle k
the
to-wit:
WHEREAS the Commissioner of Highways bias prepared plans, special
provisions and specifications for the improvement of a part of Trunk
Highway Number 3 renumbered as Trask Highway Number 35W
within the corporate limits of theilllagg of 18 new
from the So. Corp. Limits
to
and
WHEREAS said plans are on file in the office of the Department of
Highways, Saint Paul, Minnesota, being marked, labeled, and identified as
S.P. 628441 (T.6.35 W394) and
WHEREAS said special provisions are on file in the office of the
Department of Highw: R3711 Mme• iN' L ii 5 ar.;
identified as 6285.51 T.H.69 9' Mum., Pro :I
which, together with the Minnesota Department of Highways Specifications
for Highway Construction, dated January 1, 1964, on file in the office of
the Commissioner of Highways, constila the specifications for said
improvement of Trunk Highway Number 591 renumbered as Trunk Highway
Number U and
WHEREAS copies of said plans and special provisions as so
marked, labeled and identified are also on file in the office of the
ViI1t� Clerk; and
WHEREAS the term "said plans and special provisions as herein-
after used in the body of this resolution shall be deemed and intended to
mean, refer to, and incorporate the plans and special provisions in the
foregoing recitals particlO ar1 y iii en ti fi et and a -ascribed.
Form 2523
(1 -55)
favor
NOW, THEN, BE
improvement of
Number 3
be and hereby are approved.
for the
Highway
Upon the call of the roll the following
of the Resolution Hodaes_ Bl nc ard. La Vagu R,stad
(Malvin absent)
Dated March 15 19.
IT RESOLVED that said plans and special provisions
Trunk Highway Number 14 ,renumbered as Trunk
within the limits of the Village °MMounds Vier
BE IT FURTHER RESOLVED that the elevations and grades as shown
in said plans and special provisions be and they are hereby approved and
consent is hereby given to any and all changes in grade occasioned by the
construction of said Trunk Highway Number renumbered ass Trunk unk u,gtud
9�
Number in accordance with said plans and special provisions.
Atte
membprc,
The following voted against its adoption:
whereupon the Mayor and presiding officer declared the Resolution adopted.
Village Cl
STATE OF MINNESOTA
COUNTY OF Ramady as.
Village OF Mounds View
I do hereby certify that at a regular meeting (at a special meeting of
which due and legal notice was given) of the Village Council ofKpr•r+aw vicar
Minnesota, on the 15 day of March 19,, at which a majority of the
members of said Council were present, the foregoing resolution was adopted.
Given under my hand and seal this 15 day of March 192.
voted in
Village Clerk
Form 2523 (4 -62)
At a (regular) (special) meeting of the V411aof4 Conrail of the V {11are
of NWumelps View duly held on the day of 19 65 the follow-
ing Resolution was offered by Clerk Blanchard
seconded by Hodges
R ES GLUT ION 1 °5
Mayor to-wit:
WHEREAS the Commissioner of Highways has prepared plans, special
provisions and specifications for the improvement of a part of Trunk
Highway Number 39It renumbered as Trunk Highway Number 3SW within the
corporate limits of the_ y{ f_ MAnnds Vtey from the
South Corporate limits tc
o.6 3 .eLN rth of J t H.. 8 10 and
WHEREAS said plans are on file in the office of the Department of
Highways, Saint Paul, Minnesota, being marked, labeled, and identified as
S� P. 62.84 -45 T.H. 39i4�i) and
WHEREAS said special provisions are on file in the office o f the
Department of Highways, Saint Paul, Minnesota, being marked, labeled, and
identified n_ s ePe 62 Mid P?'Oi. 139d.3 (66) it6
which, together with the Minnesota Department of Highways Specifications
for Highway Construction, dated May 1, 1959, on file in the office of the
Commissioner of Highways, constitute the specifications for said improve
ment of Trunk Highway Number 394 renumbered as Trunk Highway Number
35 and
WHEREAS copies of said plans and special provisions as so marked,
labeled and identified are also on file in the office of the VillapeClerk;
and
WHEREAS the tern "said plans and special provisions" as herein-
after used in the body of this resolution shall be deemed and intended to
mean, refer to, and incorporate the plans and special provisions in the
f.nregoing recitals particularly identified and described.
Form 2523
(L -55)
NOM, TEN, BE IT RESOLVED that said plans and special provisions
for the improvement of Trunk Highway Number 19 renumbered as Trunk
Highway Number 35W within the limits of the Villswe of Nanrgda View
be and hereby are approved.
BE IT FURTHER RESOLVED that the elevations and grades as shown
in said plans and special provisions be and they are hereby approved and
consent is hereby given to any and all changes in grade occasioned by the
construction of said Trunk Highway Number_4 renumbered as Trunk Highway
Number 1SW in accordance with said plans and special provisions.
Upon the call of the roll the following members
favor of the Resolution Hodges. Blanchard. La Vaaue. Rustad
(Malvin absent)
The following mpmho ra voted against its adoption:
none
whereupon the Mayor and presiding officer declared the Resolution adopted.
Dated March 15 19_61.
voted in
ViLiar* Clerk
STATE OF MINNESOTA
COUNTY OF RSMORT ss.
yillaae OF Momuds Viw►
I do hereby certify that at a regular meeting (at a special meeting of
which due and legal notice was given) of the Ville Council of Mama flaw
Minnesota, on the 15 day of March 19 at which a majority of the
members of said Council were present, the foregoing resolution was adopted.
Given under my hand and seal this 15 day of March 190.
A regular
Mounds View, Minnesota, was held at the Village Hall in said Village on Mbnda
March 22, 1965, at 8:30 o'clock P.M., with the following members present:
Donald Hodges, Lloyd Blanchard, Charles LaVaque, Ingram Rustad and
Perry Malvin
and the following members absent: none
Extract of Minutes of Meeting
of Village Council
Village of Mounds View, Ramsey County, Minnesota
Held March 22, 1965
meeting of the Village Council of the Village of
The Clerk presented affidavits of publication of notice of bond sale in
the New Brighton Bulletin and in the Commercial West, published at Minneapolis,
Minnesota. Said affidavits were examined, approved and ordered filed.
At the hour of 8:30 o'clock P.M., the Mayor announced that the meeting
was open for the purpose of receiving and considering sealed bids for the purchase
of 1,860,000 Improvement Bonds of 1965 of the Village, and the Clerk announced
that he had received 1 bids for said bonds, which upon being opened
were found to be as follows:
Name of Bidder Interest Rates Price
(See Bid Tabulation attached)
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h
NAME OF BIDDER
AWARD:
FIRST NATIONAL BANK
OF ST. PAUL
St. Paul, Minnesota
JOHN NUVEEN CO., INC.
Chicago, Illinois
Allison Williams Company
Minneapolis, Minnesota
American National Bank
St. Paul, Minnesota
Barcus, Kindred Co.
Chicago, Illinois
J. M. Dain Company
Francis I. duPont Co.
Minneapolis, Minnesota
Hornblower Weeks,Noyes,
Hemphill, Co., Inc.
Chicago, Illinois
Juran Moody, Inc.
St. Paul, Minnesota
Kalman Company
Paine, Webber, Jackson
Curtis
Piper, Jaffray Hopwood
Minneapolis, Minnesota
Shearson, Hammill Co.
Minneapolis, Minnesota
E. J. Prescott Company
Minneapolis, Minnesota
Channer Newman Securities
Company
Chicago, Illinois
Caldwell Phillips, Inc.
St. Paul, Minnesota
Woodard Elwood Company
Minneapolis, Minnesota
B I D
T A B U L A T I O N N
$1,860,000 IMPROVEMENT BONDS OF 1965
VILLAGE OF MOUNDS VIEW, MINNESOTA
SALE: MONDAY, MARCH 22, 1965
FIRST NATIONAL BANK OF ST. PAUL)
CO-MANAGERS
JOHN NUVEEN COMPANY, INC.
FOR BONDS MATURING
RATE IN THE YEARS
3.60% 1967 through 1972
3.80% 1973 through 1982
3.90% 1983 through 1986
4.00% 1987 through 1995
plus additional interest at
the rate of 2.00% per annum
on all bonds from July 1,
1965, to April 1, 1966.
EHLERS -MANN ASSOCIATES, INC.
Financial Consultants to the Village
First National -Soo Line Concourse
507 Marquette Avenue
Minneapolis, Minnesota 55402
Telephone: 339 -8291
Area Code: 612
PRICE
$1,860,000
Net Rate:
3.9979%
Member Rustad_ then introduced the following resolution and
BE IT RESOLVED by the Council of the Village of Mounds View, Minnesota,
that the bid of First National Bank of St. Paul and John Nuveen Company
of Chicago Illinois and associates named therein, to purchase
$1,860,000 Improvement Bonds of 1965 of the Village of Mounds View to be dated
April 1, 1965, in accordance with the notice of sale heretofore duly issued by
the Village, is hereby fouund and declared to be the highest and best bid received
for the purchase of said bonds, and should be and is hereby accepted, said bid
being to purchase said bonds at a price of par and accrued interest plus a premium
of -0-- the bonds of each maturity to bear interest at the rates per
annum shown below opposite the respective years of maturity, as follows:
by
LaVaque
RESOLUTION AWARDING SALE OF $1,860,000
IMPROVEMENT BONDS OF 1965
Maturity Years Interest Rate
1967 through 1972
1973 through 1982
1983 through 1986
1987 through 1995
3.60%
3 .80%
3.90%
4.00%
and all bonds also to bear additional interest at the rate of2.00 per annum
from July 1 1965, to April 1 19 66 only. The Village Treas-
urer is directed to retain the good faith check of said successful bidder pending
completion of the sale and delivery of said bonds, and the checks of unsuccessful
bidders shall be forthwith returned to them.
The motion for the adoptions of the foregoing resolution was duly seconded
and upon vote being taken thereon, the following
voted in favor thereof: Hodges, Blanchard, LaVaque, Rustad and Malvin
and the following voted against the same: none
whereupon the resolution was declared duly passed and adopted.
Member LaVaque introduced the following resolution and
moved its adoption:
RESOLUTION CONSOLIDATING
CERTAIN SEWER AND STREET
RESURFACING IMPROVEMENTS
BE IT RESOLVED by the Village Council of the Village of Ebunds View,
Minnesota, that this Council did on November 8, 1963, institute proceedings under
Minnesota Statutes, Chapter 429, for the making of certain sanitary and storm sewer
and street resurfacing improvements in the Village, as more fully described in the
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official notices of hearings on said improvements held on December 5, 12 and 19,
_.4 __s t =7 .,.........r nrdarad made by this *sero
1963, and on January tv, �yv'; 1
1116 V uw...
Council on May 11, 1964, with the exception of certain portions thereof; that pro-
ceedings for said improvements, although separately instituted, can be more econom-
ically completed if said proceedings are consolidated and hereafter conducted as
one proc and that said proceedings are hereby consolidated and shall here-
after be conducted and referred to as a single improvement under the name of
"Sanitary and Storm Sewer and Street Resurfacing Improvement."
by
in favor thereof:
The motion for the adoption of the foregoing resolution was duly seconded
Member
and on vote being taken thereon, the following voted
and the following voted against the same:
whereupon the resolution was declared duly passed and adopted.
The Clerk presented a proposed form of bond and coupon for the printing
of $1,860,000 Improvement Bonds of 1965, which was examined by all members present,
approved and ordered placed on file in the office of the Clerk.
introduced the following resolution and
moved its adopticn: trt
RESOLUTION /AUTHQRIZING THE ISSUANCE, SALE AND DELIVERY
o.p $1,860,000 IMPROVEiIRNT BONDS OF 1965, PAYABLE FROM THE
IMPROVEMENT BOND REDEMPTION FUND, AND PROVIDING FOR AND
APPROPRIATING _SPECIALASSE$SMENTS FOR THE SUPPORT
AND MAINTENANCE OF SAID FUND, AND ALSO LEVYING GENERAL
AD VALOREM TAXES FOR SAID FUND
BE IT RESOLVED by the Village Council of the Village of Mounds View, Min-
nesota, as follows:
1. This Council has investigated the facts necessary to ascertain and
does hereby find, determine and declare that the Village of Mounds View has hereto-
fore ordered the construction of local improvements pursuant to publie hearings and
notices thereof as required by law, and has awarded contracts for their construction,
or will award contracts for their construction, all as set forth below; that the
total cost of said improvements to the Village is estimated to be approximately
equal to and not less than the respective amounts shown below opposite the descrip-
tions of said improvements, including all items cost from the inception to the
completion of the improvements and all fees and expenses incurred in connection
therewith, as follows:
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okik
Name of Improvement
Sanitary and Storm Sewer
and Street Resurfacing
Improvement:
Lift stations (1964 -2)
Laterals (1964 -3)
Silver Lake sewer (1965 -1)
Maintenance building
(1965 -2)
County Road "H" inter-
ceptor (replacing lift
station)
Sewer maintenance equipment
Silver Lake Road Water
Improvement 1965 -2
Date Date Total
Ordered Contract Awarded Ratimated Cost
May 11, 1964
November 23, 1964
December 14, 1964
March 22, 1965
March 22, 1965
County Road "H" Water February 8, 1965 March 22, 1965
Improvement 1965 -1
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$1,757,408*
*Includes costs of only those portions of the improvement shown in this tabulation;
additional portions of the improvement will be constructed later.
Street and Water Improve- July 27, 1964 August 24, 1964 4 926
meat 1964 -1
Street and Water Improve- August 24, 1964 October 14, 1964 32,301
meat 1964 -2
46,008
15,710
$98,9+5
that the total benefits resulting from said improvements to the assessable lots,
pieces and parcels of land affected thereby and to the Village at large will be
substantially in excess of the total cost of sueh improvements; that in order to
pay the cost of constructing said improvements it is necessary that the sum of
$1,860,000 be borrowed by the issuance of general obligation improvement bonds of
the Village in accordance with the provisions of Chapter 429, Minnesota Statutes
1961, as hereinafter provided; that said bonds should be and are hereby made pay-
able from the Improvement Bond Redemption Fwd of the Village, in accordance with
.be provisions of Ordinance No. 68 of the Village, adopted on May 25, 1960, and shat"
be secured by all the covenants and governed by all the terms and provisions set
forth in said ordinance, and that all acts, conditions and things required by the
Constitution and laws of the State of Minnesota to be done, to exist, to happen
and to be performed preliminary to the issuance and sale of said bonds to provide
moneys to pay for said improvements have been done, do exist, have happened and
have been performed in due form, time and manner as so required.
2. Said bonds shall be dated April 1, 1965, shall be numbered serially
from 1 to inclusive, each in the denomination of shall bear in-
terest at the rates set forth below, from date of issue until paid or duly called
fbr redemption, and shall mature serially on April 1 in the respective veers and
amounts as follows:
olor-
Interest Interest
Year Amount Rate Year Amount Rate
1967 $70,000 1982 $6o,000
1968 70,000 1983 60,000
1969 70,000 1984 60,000
1970 70,000 1985 60,000
1971. 70,000 1986 60,00o
1972 70,000 1987 60,000
1973 70,000 1988 60,000
1974 70,000 1989 60,000
1975 70,000 1990 60,000
1976 70,000 1991 6o,o00
1977 7 0 000 1992 60,
1978 70,000 1993 60,000
1979 60,000 1994 6o,oco
1980 60,000 1995 60,000
1981 60,000
Interest shall be payable each October 1 and April 1, commencing on October 1,
1965. Interest at the basic rate applicable to each bond, from date of issue to
maturity, shall be represented by appropriate interest coupons appurtenant to such
bond, and each and all of the bonds shall bear additional interest represented by
separate coupons designated as "B" coupons, at the rate of per annum for
the limited period from 19 to 19':- The bonds
maturing in the years 1967 through 1976 shall not be subject to redemption before
maturity, but those maturing in the years 1977 through 1995 shall be each subject
to redemption and prepayment at the option of the Village on April 1, 1976, and
any interest payment date thereafter, at a price of 102% of par and accrued interest
for any boad redeemed before April 1, 1986, or a price of 101% of par plus accrued
n.nterest for any bond redeemed on or after said sate. Not less than thin days
before the date specified for prepayment and redemption of any of said bonds, the
Village Treasurer shall mail notice of the cell thereof to the holder, if known,
and to the bank at which principal and interest are then payable, and the Treasurer
is directed to maintain a record of the names and addresses of holders of prepayable
bonds for the purpose of mailing such notices so far as such information is made
available to him. The principal of and interest on said bonds shall be payable at
in and the Village hereby agrees to pay the
reasonable and customary charges of such paying agent for the receipt and disburse-
ment thereof.
3. The bonds shall be prepared for execution forthwith, executed and
delivered to of
as purchaser thereof, in the manner and substan-
tially in the form set forth in said Ordinance No. 68, upon payment by the purchaser
of par plus accrued interest, as provided in the contract of sale of said bonds
heretofore accepted by this Council. The proceeds of issuing said bonds shall be
credited by the Treasurer to the funds and in the amounts as follows:
FUND
Sanitary and Storm Sewer and Street Re-
surfacing improvement
Street and Water improvement 1964 -1
Street and Water improvement 1964 -2
County Road "H" Water Dnprovement 1965 -1
Silver Lake Road Water improvement 1965 -2
MOUNT
$1.,757,
and used solely to pay the costs of said improvements and for the other purposes
specified in said ordinance. Of the rmRining proceeds of issuing said bonds,
and also the accrued interest to be received upon delivery of
said bonds shall be credited and paid into the Improvement Bond Redemption Fund of
the. Village_
4. In accordance with said ordinance, it is hereby estimated that ap-
proximately $1,335,630 principal amount of special assessments will be levied on
account of said Sanitary and Storm Sewer and Street Resurfacing Improvement upon
properties within the area assessable for said improvement, as heretofore estab-
lished by the resolutions ordering the same, and will be available for credit to
the Improvement Bond RLdemption Fund after the cost of the improvement is paid in
full; which assessments will be paid in 30 equal annual installments, collectible
with general taxes of the Village in consecutive years commencing in 1966, with
interest at the rate of 6% per annum. It is fw ther estimated that approximately
principal amount of special assessments will be levied on account
of the other improvements financed by the bonds herein authorized to be issued,
and will be available for credit to the Improvement Bond Redemption F nd after the
cost of such improvements is paid in full; which assessments will be paid in 15
equal annual installments collectible with general taxes of the Village in conse-
cutive years commencing in 1966, with interest at the rate of 6% per annum. TO
the first installment shall be added interest on the entire assessment on each
property from the date of adoption thereof until December 31 of the year in which
the first installment is payable, and to each subsequent installment shall be
added interest for one year on the then unpaid balance of the assessment. Al].
moneys collected therefrom shall be and are hereby appropriated to the funds of
said improvements and to the Improvement Bond Redemption Fund, and shall be
accounted for and expended in the manner provided in Ordinance No. 68. The full
faith and credit of the Village is also pledged for the payment of said bonds and
interest as provided in said ordinance.
5. There is hereby levied a general ad valorem tax upon all taxable
property in the Village for the purpose of paying principal of and interest on the
bonds herein authorized, which shall be spread in the amounts and collectible in
the years as follows:
Year Amount Year Amount Year Amount
The collections of said taxes shall be credited and paid into the Improvement Bond
Redemption Fund of the Village it is hereby estimated that the collections of
the special assessments described in paragraph 4 hereof and of the taxes herein
levied, and all other taxes and assessments heretofore levied and appropriated
to said fund, will produce at least five per cent in excess of the amounts needed
each year to meet when due the principal and interest payments on the bonds herein
authorized, and on all other bonds of the Village payable from the improvement
Bond Redemption Fund.
The motion for the adoption of the foregoing resolution was duly seconded
by Member �C►t
voted in favor thereof:
C
and upon vote being taken thereon,
7
the following
otiN
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
STATE OF MINNESOTA)
ss.
COUNTY OF RAMS
I, the undersigned, being the duly qualified and acting Clerk of the
Village of Mounds View, Ramsey County, Minnesota, hereby certify that I have care-
fully compared the attached and foregoing extract of minutes of a meeting of the
Village Council of said Village held on the date therein indicated with the origi-
nal minutes of said meeting on file in my office, and that the same is a full,
true and correct transcript insofar as said minutes relate to awarding the sale
of $1,860,000 Improvement Bonds of 1965, consolidating improvement proceedings,
authorizing the issuance of said bonds, providing for the payment thereof by
assessments, and fixing the form and terms of said bonds.
WITNESS my hand officially and the official seal of the Village this
day of March, 1965.
(sEA1,)
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