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534 First National Bank of 5.60% 1972-73 $98,350.00 $42,675.00 Minneapolis 5.75% 1974 (6.4172%) First National Bank of 6.00% 1975-76 Hastings 6.20% 1977-78 6.30% 1979 6.40% 1980 American Nat'l Bank & Trust 5.70% 1972-74 $98,377 .00 $42,075.50 Co. of St. Paul 5.90% 1975-76 (6.3271%) 6.10% 1977-78 6.25% 1979-80 Piper, Jaffray & Hopwood 5.70% 1972-74 $98,540.00 $42,435.00 n Inc., Minneapolis 6.00% 1975-76 (6.381203%) U 6~10% 1977 6.20% 1978 6.30% 1979 6.40% 1980 Juran & Moody, Inc. 5.50% 1972, $98,100.00 $42,795.00 St. Paul 5.60% 1973 (6.4353%) Paine, Webber, Jackson & 5.75% 1974 Curtis 5.90% 1975 E. J. Prescott & Co. 6.00% 1976 Robert S.C. Peters()n, Inc. 6.10% 1977 All of Minneapolis 6.20% 1978 6.30% 1979 6.40% 1980 First National Bank of 5.75% 1972-74 $98,200.00 $43,305.00 St. Paul 6.00% 1975-76 (6.5120%) 6.20% 1977-78 6.50% 1979-80 Reoffering Schedule of the Purchaser Rate Year Yield r; : i 5.40% 1972 5.40% L__) 5.50% 1973 5.50% 5 . 75% 1974 5.75% 5.80% 1975 5.80% 5.90% 1976 5.90% 6.00% 1977 6.00% 6.10% 1978 6.10% 6.20% 1979 6.20% 6.30% 1980 6.30% The Council then proceeded to consider such bids. After the bids had been considered and discussed, Councilman Kane introduced the follow- ing resolution and moved its adoption: RESOLUTION ACCEPTING BID ON SALE OF $100',000 GENERAL OBLIGATION WATER REVENUE BONDS OF 1970 PROVIDING FOR THEIR ISSUANCE AND LEVYING A TAX FOR THE PAYMENT THEREOF WHEREAS, the City Council has heretofore determined that it is necessary and expedient to issue $100,000 General Obligation Water Revenue Bonds of 1970, pursuant to M.S.A. 475 and M.S.A. 444.075; fj LJ BE IT RESOLVED by the City Council of the City of Hastings, Minnesota as follows: 1. That the bid of Dain, Kalman & Qua11, Inc. to purchase $100,000 General Obligation Water Revenue, Bonds of 1970 of the City, in accordance with the notice of bond sale, at the rates of interest herein- after set forth, and to pay therefor the sum of $98,575.00 (plus a premium of - 0 -) is hereby found, determined and declared to be the most favorable bid received, and is hereby accepted and said bonds are hereby awarded to said bidder. The City Clerk is directed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the un- successful bidders. Said bonds shall be payable as to principal and interest at the main office of the Northwestern National Bank of Minneapolis.