HomeMy WebLinkAboutMinutes - 1974/11/19SPECIAL MEETING
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
MINNESOTA
A special meeting of the City Council was called to order by Mayor Neisen
at 8:14 p.m. on November 19, 1974, at the Mounds View City Hall, 2401
Highway #10, Mounds View, Minnesota 55112
Present: Mayor Neisen Councilman Johnson
Councilman Hodges Councilman Pickar
Absent: •louncilman Baumgartner
Mayor Neisen stated that Councilman Baumgartner had been called out of
'town on short notice and would not be present.
Mr. Seegar Swanson, Eh1er and Associates, noted that documentation of the
projects involved in the bond sale had been prepared but that Council action
should be taken to assure that proper procedure had been followed in the
ordering of Project 1974 -1. To do so, he read a proposed resolution.
MSP (Pickar Hodges) To adopt Resolution No. 648 determining the adequacy
of the petition and ordering Improvement Project 1974 -1.
Mr. Swanson announced that Mounds View had received a new Moody rating
of Baa -1. He stated that this should improve the interest rate on
the proposed sale. He noted that the night before th= City of North
St. Paul with the same rating had sold bonds at 6.433%
Administrator Achen presented affidavits -'f publication of notice- of
bond sale in the New Brighton Bulletin, tte official newspaper cif the
City, and in the Commercial West, pu?>lishod at Minneapolis, Minnesota,
as required by law and as directed 'y re o1ution of the Co 1 adopted
October 28, 1974. The affidavits we .xamined, approved and ordered
filed in the office of the Clerk -Admin crator.
Mayor Neisen announced that the meeting was open for the purpose of
receiving and considering sealed bids for the purchase of $1,680,000
Improvement Bonds of 1974 of the City.
Administrator Achen announced that he had received bids for said bonds,
which upon being opened were found to be as follows:
Mane of Bidder
First National Bank of St. Paul, Mn.
(Account Manager)
Banc Northwest
(Account Manager)
Net Interest Cast Rate
39 38,767.25
6.1639
$952,350.36
6.2531%
Neisen Aye
Hodges Aye
Johnson Aye
Pickar Aye
Price
$1,666,014.00
$1,66= 221.52
-2-
Special Meeting
November t9, 1974
MSP (Neisen- Johnson) To adopt Resolution No. 649 awarding sale of
$1,680,000 Improvement Bond of 1974 to the highest and best bid of
First National Bank of St. Paul, Minnesota.
Neisen Age
Hodges Aye
Johnson Aye
Pickar Aye
MSP (Hodges-Picker) To adopt Resolution No. 650 azthorizinv the issuance,
sale, and delivery of $1,680,000 Improvement Bonds of 1974, payable from
the Improvement Bond Redemption Fund, and provide and appropriate special
assessments for the support and maintenance of said fund.
4 Ayes
MSP (N.eisen- Hodges) To authorize the administrator to prepare a check for
$20,000.00 payable to Kenneth H. Walijarvi and Associates, Architects, for
the November 25, 1974 bills for approval, and that the balance due Mr.
Walijarvi's Firm be held in reserve to cover any future extra costs or
contingencies pending a decision by the Council regarding these matters
at the completion of the construction.
Councilman Johnson asked that the administrator send a letter to Kenneth
Walijarvi expressing this motion and the Council's appreciation for the
manner in which he presented the case and for his willingness to reach an
agreement fully satisfactory to the Council.
MSP (Neisen- Johnson) To authorize the administrator to execute a hold-
harmless agreement with Ervin Herbst for the disposal of trees under the
city's diseased tree program.
MSP(Pickar Hodges) To adjourn at 8:43 p.m.
Respectfully submitted,
-11
Mark Achen, Clerk- Administrator
4 Ayes
4 Ayes