HomeMy WebLinkAboutgr00090_000004_pg094-007NOTICE OF BOND SALE
VILLAGE OF MOUNDS VIEW, MINNESOTA
$585,000 WATERWORKS IMPROVEMENT BONDS
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:
Tuesday, October 18, 1960
at 8:00 o'clock P.M. C.S.T., to receive bids and award the sale
of $585,000 general obligation, negotiable coupon Waterworks Im-
provement Bonds of the Village, to be dated November 1, 1960, to
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 be delivered
to EHLERS -MANN & ASSOCIATES, Fiscal. Agents, 807 Title Insurance
400 South Second Avenu ?, Minneapolis, Minnesota.