The URL can be used to link to this page

Home My WebLink AboutResolution 4900 . ~ . RESOLUTION NO. 4900 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION SETTING A PUBLIC HEARING FOR BRONSON DRIVE PUBLIC RECONSTRUCTION AND PUBLIC IMPROVEMENTS WHEREAS, the City of Mounds View is considering to reconstruct Bronson Drive, from Edgewood Drive to Raymond Ave; and WHEREAS, this proj ect will include total street reconstruction in accordance with Minnesota State Aid Standards, storm sewer construction, minor water main replacement, partial sanitary sewer main and service replacement, storm water quality / detention pond construction; and WHEREAS, this project is proposed to be assessed in accordance with Chapter 202 of the Municipal Code; and WHEREAS, the City Council feasibility study to include cost estimates total project cost. is requesting a in unit prices and NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Mounds View sets a public hearing on March 25, 1996 at 7:05 pm, to be heJ.d at Mounds View City Hall, 2401 Hwy 10, Mounds View MN. 55112, to consider the reconstruction of Bronson Drive between Edgewood Drive and Raymond Ave, and storm water ponding project. Adopted this 12th day of February, 1996. /-;; e--_CW '--__....<..., A"??-t./ Z2 .A..A~ ~-----:;'MAYOR ' . ATTEST~ (SEAL) ''1 _.-----..-/ / /. -;-;;;. ~ L--'7 L__ // CITY ADMI]913TRATOR / I l_ e . . EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF MOUNDS VIEW, MINNESOTA Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Mounds View, Minnesota, was duly held in the Mounds View City Hall on February 12, 1996, commencing at 7:00 o'clock P.M., C.T. The following Councilmembers were present: Jerome Linke, Phyllis Blanchard, Gary Quick, Julie Trude and Sue Hankner and the following were absent: None *** *** *** The meeting was convened in part for consideration of the offers which had been received, in accordance with the Terms of Proposal, for the purchase of the City's Taxable General Obligation Tax Increment Refunding Bonds, Series 1996A. 311176.1 85 E. SEVENTH PLACE, SUITE 100 SAINT PAUL, ....iN 55101-2143 612-223-3000 FAX: 612-223-3002 // . SPRINGSTED Public Fi1'li1l/Ce Advisors ~ $2,750,000* CITY OF MOUNDS VIEW, MINNESOTA TAXABLE GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 1996A AWARD: FBS INVESTMENT SERVICES, INC. NORWEST INVESTMENT SERVICES, INC. PIPER JAFFRA Y INC. .LE: February 12, 1996 Moody's Rating: A Interest Net Interest True Interest Bidder Rates Price Cost Rate FBS INVESTMENT SERVICES, INC. 5.00% 1997 $2,732,125.00 $848,259.79 5.8338% NORWEST INVESTMENT SERVICES, INC. 5.10% 1998 PIPER JAFFRAY INC. 5.25% 1999 5.40% 2000 5.50% 2001 5.60% 2002 5.75% 2003 5.85% 2004 6.00% 2005 DAIN BOSWORTH INCORPORATED 5,30% 1997 $2,725,345.55 $870,847.16 6.0010% 5.375% 1998 5.50% 1999-2001 5.70% 2002 5.80% 2003 6,00% 2004 6.10% 2005 FIRST OF AMERICA SECURITIES 5.50% 1997 $2,725,250.00 $870,447.08 6.0029% . 5.60% 1998-2002 5.80% 2003 6.00% 2004-2005 (Continued) SAINT PAUL, MN . MINNEAPOLIS. MN . BROOKFIELD. WI . OVERLAND PARK, KS . WASHINGTON, DC . IOWA CITY, IA Interest Net Interest True Interest Bidder Rates Price Cost Rate JURAN & MOODY, INCORPORATED 5.05% 1997 $2,731,025.00 $873,626.04 6.006. BERNARDI SECURITIES, INCORPORATED 5.15% 1998 5.30% 1999 5.45% 2000 5.60% 2001 5.75% 2002 5.95% 2003 6.10% 2004 6.20% 2005 FIDELITY CAPITAL MARKETS 5.40% 1997 $2,725,250.00 $873,671.46 6.0216% 5.50% 1998-2000 5,55% 2001 5.70% 2002 5.85% 2003 6.00% 2004 6.10% 2005 CRONIN & COMPANY, INCORPORATED 5.00% 1997 $2,725,507.95 $874,720.18 6.0219% SMITH BARNEY 5.10% 1998 DOUGHER1Y, DAWKINS, STRAND & 5,20% 1999 BIGELOW, INCORPORATED 5.40% 2000 5.55% 2001 5.75% 2002 6.00% 2003 . 6.05% 2004 6.15% 2005 NIKE SECURITIES 5.10% 1997 $2,734,583.90 $878,762.04 6.0355% RAYMOND JAMES & ASSOCIATES 5.20% 1998 5.30% 1999 5.50% 2000 5.70% 2001 5.80% 2002 6,00% 2003 6.125% 2004 6.30% 2005 PRINCIPAL FINANCIAL SECURITIES INC. 5.60% 1997-2001 $2,735,721,00 $881,592.33 6.0589% 5,80% 2002 6.00% 2003 6.15% 2004 6.25% 2005 HARRIS TRUST & SAVINGS BANK 5.375% 1997-1999 $2,726,222.75 $880,634.75 6,0663% Josephthal, Lyon & Ross, Inc, 5.50% 2000 5.70% 2001 5.80% 2002 5.95% 2003 6.05% 2004 6.15% 2005 (continu_ Interest Rates 5.60% 1997-1998 5.625% 1999 5.70% 2000-2002 5.875% 2003 6.00% 2004 6.125% 2005 5.85% 1997-1998 5.875% 1999-2003 5.90% 2004-2005 5.10% 1997 5.15% 1998 5.30% 1999 5.45% 2000 5.65% 2001 5.85% 2002 6.05% 2003 6.20% 2004 6.30% 2995 Price Net Interest True Interest Cost Rate Bidder .RIFFIN, KUBIK, STEPHENS & . THOMPSON, INC. $2,725,250.00 $881,449.90 6.0780% MORGAN KEEGAN & CO., INC. CREWS & ASSOCIATES $2,725,284.35 $882,157.00 6.0930% ZIONS BANK $2,725,910.00 $890,108.75 6.1257% ------------------------------------------------------------------------------------------------------------------------------------------------------------ These Bonds are being reoffered at par. . BBI: 5.37% Average Maturity: 5.30 Years Subsequent to bid opening, the 1997, 1998, 1999 and 2000 maturities were increased by $5,000 each, resulting in an issue size of $2,770,000. .