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06-09-80 Special Mtg.
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06-09-80 Special Mtg.
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<br />Hastings, Minnesota <br />June 9, 1980 <br /> <br />The City Council of the City of Hastings, Minnesota met in a special <br />meeting on Monday, June 9, 1980 at 5:00 o'clock P.M. in the Council Chambers <br />of the City Hall. <br /> <br />Mari:>ers present: Councilmen Trutna, Kulzer, Stoffel, Shannon, Karnick, <br />Collins, and Mayor Petersen. <br /> <br />,--. <br /> <br />Ma:ri>ers absent: CounciJmen Trautmann and Legler. <br /> <br />Pursuant to due call and notice thereof, a special meeting of the <br />Ci ty Council of the City of Hastings, Dakota and Washington Counties, Minnesota, <br />. was duly held in the City on the 9th day of June, 1980, at 5:00 P.M. for the <br />purpose of opening and considering bids for and awarding the sale of $305,000 <br />General Cbligation Improvement Bonds of 1980, Series A of the City. <br /> <br />The Clerk-Treasurer presented affidavits showing publication of notice <br />of call for bids on $305,000 General Cbligation Improvenent Bonds of 1980, <br />Series A of the City, for which bids were to be received at this meeting, in <br />accordance with the resolution adopted by the City Council on May 19, 1980. The <br />affidavits were examined, found to canply with the provisions of Minnesota <br />Statutes, Chapter 475, and were approved and ordered placed on file. <br /> <br /> The Council proceeded to receive and open bids for the sale of the <br /> bonds. The following bids were received: <br /> NEr INTEREST <br /> BIDDER OOUPONS PRICE CffiI' & RATE <br /> M.H. Novick & Co. Inc. 7.25% 1982-83 $305,000.00 $96,213.75 <br /> 6.80% 1984 (6.138%) <br /> 5.75% 1985 <br /> 5.90% 1986 <br /> 6.00% 1987-88 <br />- 6.10% 1989 <br />f <br />I 6.20% 1990 <br /> First National Bank 6.25% 1982-86 $305,073.20 $97,234.30 <br /> Of Minneapolis 6.00% 1987 (6.2031%) <br /> First National Bank 6.10% 1988 <br /> of Hastings 6.25% 1989 <br /> 6.40% 1990 <br /> American National Bank & 6.40% 1982-86 $305,000.00 $98,418.75 <br /> Trust Canpany 6.00% 1987 (6.2787%) <br /> 6.10% 1988 <br /> 6.20% 1989 <br /> 6.35% 1990 <br /> Marquette National Bank 6.50% 1982-85 $305,000.00 ~8,430.00 <br /> 6.15% 1986-88 (6.2794%) <br /> 6.30% 1989" <br /> 6.40% 1990 <br /> The First National Bank 6.50% 1982-85 $305,000 .00 $99.035.00 <br /> of St. Pau+ 6.30% 1986 (6.3180%) <br /> 6.10% 1987 <br /> 6.20% 1988 <br /> 6.30% 1989 <br /> 6.40% 1990 <br />-- <br /> Allison-Williams Co. 6.50% 1982-86 $305,061. 00 $99,320.25 <br /> 6.10% 1987-88 (6.3362%) <br /> 6.20% 1989 <br /> 6.25% 1990 <br /> <br />The Council then proceeded to consider and discuss the bids, after <br />which mart>er Stoffel introduced the following resolution and lOOved its adoption: <br /> <br />RFSOIlJrIrn ACCEPTING BID rn SALE OF RESOlliI'Irn #43-80 <br />$305,000 GENERAL OOLIGATIrn IMPROVEMENT <br />OONDS OF 1980, SERIFS A <br />AND PROVIDING FOR THEIR ISSUANCE <br /> <br />BE IT RESOLVED by the Council of the City of Hastings, Minnesota, <br />as follows: <br /> <br />255 <br />
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