HomeMy WebLinkAboutgr00090_000027_pg60PROCEEDINGS OF THE VILLAGE COUNCIL
VILLAGE OF MOUNDS VIEW
RAMSEY COUNTY, MINNESOTA
August 25, 1971
A Special Meeting of the Mounds View Village Council was called to order by
Mayor Rustad at 8:07 P.M. on August 25, 1971, at the Mounds View Village Hall,
2401 Highway #10, St. Paul, Minnesota 55112 to receive and award bids for
5655,000 G.O. Improvement Bonds to finance Sanitary Sewer and Water Improvement
Project 1971 -1 and 1971 -1a.
Present:
Mayor Rustad
Councilman Neisen
Councilman Johnson
Absent:
Councilman Blanchard
Councilman Hodges
Also Present:
Clerk- Administrator Zylla
Attorney Meyers
Seegar Swanson, Fiscal Agent
Clerk- Administrator Zylla presented affidavits of publication of notice of bond sale
published in the New Brighton Bulletin on August 12th and Commercial West on
August 14th. He opened and presented the following four bids for consideration:
1) First National Bank of St. Paul $645,000
net interest cost $343,845 net interest rate 5.920%
2) Robert S. C. Peterson Inc. $645,000
net interest cost $345,408.75 net interest rate 5.9476%
3) Juran and Moody, Inc. St. Paul $645,004.70
net interest cost $340,757.80 net interest rate 5.8675%
4) Piper Jaffray and Hopwood Inc. Mpls.$645,561.05
net interest cost $341,641.05 net interest rate 5.8827%
Seegar Swanson recommended approval of the apparent low bid of Juran and Moody.
He also stated that he felt the timing for the sale was excellent for three
reasons. First the interest rate had dropped a record. half point in the last
week, second various syndicates have recently severed ties, and third most bond
dealers are oversold in bonds given the current economic situation.
MSP (Neisen/Rustad) To accept the bids and to award the sale of $655,000
Improvement Bonds of 1971 to the low bidder Juran and Moody. (Resolution #534)
MSP (Neisen/Rustad) To authorize the issuance, sale and delivery of $655,000
Improvement Bonds of 1971 payable from the Improvement Bond Redemption Fund, and
providing for and appropriating special assessments for the support and maintenance
of said fund. (Resolution #535)
3 Ayes
3 Ayes
MSP (Neisen/Rustad) To adjourn at 9:27 P.M. 3 Ayes
Reapectfully Submitted,
wij
ennis S. lla,
Clerk -Ad. istrator