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EXTRACT OF MINUTES OF MEETING OF THE <br />CI`T'Y COUNCIL OF THE CITY <br />OF HUGO, MINNESOTA <br />HELD: MARCH 18, 1974 <br />Pursuant to due call and notice thereof, a special <br />meeting of the City Council of the City of Hugo, Washington <br />County, Minnesota, was duly held at the City Hall in said <br />City on the 18th day of March, 1974, at 8:00 o'clock P.M., <br />C.D.S.T., for the purpose of opening and considering bids <br />for and awarding the sale of $56,000 General Obligation <br />Fire Equipment Bonds of 1974 of said City, as one of two bond <br />issues of the City offered for sale as one package and <br />totaling $906,000. <br />The following members were present: Mayor Crever, <br />Councilmen: Martin, LaValle, Lease, Leroux <br />and the following were absent: none <br />The Clerk presented affidvvits showing publication <br />of notice of call for bids on $56,000 General Obligation <br />Fire Equipment Bonds of 1974 and $850,000 General Obligation <br />Sanitary Sewer Improvement Bonds of 1974 of the City, for which <br />bids were to be received at this meeting, in accordance with <br />the resolution adopted by the City.Council on February 11, 1974. <br />Said affidavits were examined, found to comply with the provi- <br />sions of Minnesota Statutes, Chapter 475, and were approved <br />and ordered placed on file. <br />The Council proceeded to receive and open bids for <br />the sale of said bonds. The following bids were received: <br />Bidder Interest Rate Net Interest Cost <br />See page 1.1. <br />