05-28-74 Special Mtg. - Laserfiche WebLink

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1496 The motion for the adoption duly seconded by Councilman Novak and following vote was recorded: Ayes, al e foregoing resolution was ote being taken thereon, the s, none. Whereupon said resolution w passed and adopted. ATTEST: t I, Me:-" d.- ~A cffy'c erK: The Clerk presented affidavits showing publication of notice of call for bids on $145,000 General Obligation Parking Improvement Bonds of 1974 of the City, for which bids were to be received at this meeting, in accordance with the resolution adopted by the City Council on April 22, 1974. Said affidavits were examined, found to comply with the provisions of Minnesota Statutes, Chapter 475, and were approved and ordered placed on file. ,-.-. The Council proceeded to receive and open bids for the sale of said bonds. The following bids were received: Bidder First National Bank of Saint Paul St. Paul, Mn Carleton D. Beh Company Des Moines, Iowa First National Bank of Minneapolis, Minneapolis, Mn. -- American National Bank & Trust Company Juran & Moody, Inc. Both of St. Paul, Mn. E. J. Prescott & Company Minneapolis, Mn. Piper, Jaffray & Hopwood Inc. Allison-Williams Company Both of Minneapolis, Mn. BancNorthwest Chicago, Ill. Dain, Kalman & Quail, Inc Minneapolis, Mn Coupons Price Net Interest Cost & Rate 5.00% 1976-80 5.10% 1981 5.20% 1982 5.25% 1983 5.30% 1984 5.40% 1985 $143,550.00 $47,773.75 (5.35280%) 5.00% 1976-80 5.10% 1981 5.20% 1982 5.30% 1983 5.40% 1984 5.50% 1985 $143,250.00 $48,437.50 (5.4271%) 5.40% 1976-80 $143,251. 30 $48,492.45 5.00% 1979-80 5.10% 1981 5.20% 1982 5.25% 1983 5.30% 1984 (5.4333%) The Council then proceeded to consider such bids. After the Bids had been considered and discussed, Councilman Kramer introduced the foll- owing resolution and moved its adoption: RESOLUTION ACCEPTING BID ON SALE OF $145,000 General Obligation Parking Improvement Bonds of 1974 Providing for their issuance -- I BE IT RESOLVED by the Council of the City of Hastings, Minnesota, as follows.: 1. That the bid of The First National Bank of St. Paul to pur- chase $145,000 General Obligation Parking Improvement Bonds of 1974 of the City, in accordance with the notice of bond sale, at the rates of interest hereinafter set forth, and to pay therefor the sum of $143,550.00 (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 unsuccessful bidders. Said bonds shall be payable as to principal and in- terest at The First National Bank of St. Paul or any successor Paying Agent duly appointed by the City.