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Home My WebLink About04-23-73 Adjourned Mtg 1202 Hastings, Minnesota April 23, 1973 The City Council of the City of Hastings, Minnesota met in an adjourned regular meeting on Monday, April 23, 1973 at 8:00 o'clock P.M. in the Council Chambers of the City Hall. Members present: Councilmen Collins, Schnirring, Kramer, Hall- berg, Wilson, Driscoll, Novak and Mayor Petersen. Members absent: Councilman O'Connor. I Councilman Driscoll introduced the following resolution and moved its adoption: RESOLUTION ACCEPTING BIDS ON 1973 IMPROVEMENTS WHEREAS, pursuant to an advertisement for bids for the 1973 Improvement~, bids were opened and tabulated according to law, and the following bids were received complying with the advertisement: PROPOSAL I BITUMINOUS SURFACING CONCRETE CURB AND GUTTER AND SIDEWALK 1. Hillside Court and View Court - Concrete Curb and Gutter and Bituminous Surfacing. 2. Spring Street - 17th Street to 18th Street - Sidewalk on East Side. 3. Pine Street - TH #55 to 15th Street - Sidewalk on West Side. BIDDERS Alexander Construction Company $ 41,878.00 I .edersem Brothers $ 38,532.90 PROPOSAL II SANITARY SEWER, WATERMAIN, STORM SEWER STREET GRADING AND GRAVEL BASE CONSTRUCTION REPLACEMENT OF SANITARY LIFT STATION 1. 17th Street , Pleasant Drive to Highland Drive - Highland Drive - 15th Street to 17th Street - Brittany Road - 15th Street to 17th Street - 15th Street - Brittany Road to Todd Way. - Street Grading and Gravel Base, Sanitary Sewer and Watermain, Storm Sewer on 15th & 17th Streets. 2. North Frontage Road - West of Pleasant Drive - Street Grading, Gravel Base and Storm Sewer. 3. 4. 5. ,: 6. West 4th Street - West from Pleasant Drive - Street Grading and Gravel Base, Sanitary Sewer and Watermain and Storm Sewer. 14th Street within Dakota Hills - 3rd Addition - Street Grading and Gravel Base, Sanitary Sewer,Watermain and Storm Sewer. East 1st Street Extended - Sibley Street Area - Sanitary Sewer, Street Grading and Gravel Base. T H 316 from T H 61 to Sp~ral Boulevard - Sanitary Sewer, Street Grading and Gravel Base. 7. 4th Street Lift Station - Replacing Sanitary Lift Station, Street Grading and Gravel Base. 8. East 10th Street and Progress Drive - Watermain, Street Grading and Gravel Base. BIDDERS Northern Contracting Company F. Moretinni, Inc. $430,078.60 $378,013.20 1203 Robert W. Moore Company $368,720.30 Riverside Sand & Gravel $396,329.20 Austin P. Keller $375,367.60 STATE - AID PROJECTS 1. Pleasant Drive from 19th Street to 23rd Street - Bituminous Surfacing, Concrete Curb and Gutter and Sidewalk. BIDDERS o Woog Brothers Pedersen Brothers $ 45,068.50 $ 42,152.00 Alexander Construction Company $ic~2, 307 . 50 McNamara - Vivant $ 49,767.41 AND WHEREAS, it appears that the lowest responsible bidders are as follows: Proposal I Proposal II State Aid Construction Pedersen Brothers Robert W. Moore Company Pedersen Brothers NOW THEREFORE BE IT RESOLVED by the City Council of Hastings: 1. The Mayor and City Clerk are hereby authorized and directed to enter into a contract with Pedersen Brothers and Robert W. Moore Company for the improvements as stated above accord- ing to the plans and specifications therefore. approved by the City Council and on file in the office of the City Clerk. 2. The City Clerks is hereby authorized and directed to return forthwith to all bidders the deposits made with their bids except that the deposits of the successful bidder and the next lowest bidder shall be retained until a contract has been signed. o ATTEST: ~ . 11 ~..,.~ ity ~ler day of April, 1973. Adopted by the City Councilman Novak seconded the mo and the same was passed by the following o adopt said re8~lution Ayes, all; Nays, none. Councilman Novak introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR PUBLIC SALE ~~ OF $475,000 IMPROVEMENT BONDS OF'1973~ BE IT RESOLVED by the City Council of the City of Hastings, Minne- sota, as follows: o 1. It is hereby found, determined and declared that this City should issue $475,000 Improvement Bonds of 1973 to defray the expense of various improvements in the City. 2. This Council shall .eet at the time and place specified in the form of notice hereinafter contained for the purpose of opening and considering sealed bids for, and awarding the sales of $475,000 Impruvement Bonds of 1973 of said City. 3. The City Clerk is hereby authorized and directed to cause notice of the time, place and purpose of said meeting to be published in the official newspaper of the City and in Commerica1 West not less than ten days in advance of date of sale, as provided by law, which notice shall l I' --- I 1204 be substantially the following form: NOTICE OF BOND SALE $475,000. IMPROVEMENT BONDS OF 1973 CITY OF HASTINGS (DAKOTA AND WASHINGTON COUNTIES), MINNESOTA These bonds will be offered Monday, May 14, 1973 at 5:00 P.M., CDST at the City Hall, Hastings, Minnesota. Dated June 1, 1973, the bonds will mature on December 1, in the years and amounts as follows: $45,000. - 1974 & 1975, $50,000. - 1976 - 1980, $45,000. 1981-1983. All bonds will be without right of prior redemption. No rate of interest nor the net effective average rate of the issue may exceed 7% per annum. The proceeds will be used to finance construction of various improvement projects within the City. Dated April 23, 1973 BY ORDER OF THE CITY COUNCIL /s/ Wallace H. Erickson City Clerk 4. The terms and conditions of said bonds and the sale thereof are fully set forth in the Statement of Terms and Conditions attached hereto as Exhibit A and incorporated herein by reference. The motion for the adoption of the foregoing resolution was duly seconded by Councilman Schnirring and upon a vote being taken thereon, the following voted in favor thereof: All present. and the follwing voted against the same: None Whereupon said resolution was declared duly passed and adopted. OFFICIAL NOTICE OF BOND SALE $475,000 IMPROVEMENT BONDS OF 1973 CITY OF HASTINGS, (DAKOTA AND WASHINGTON COUNTIES), MINNESOTA These bonds will be offered Monday, May 14, 1973, 5:00 P.M. CDST, at the City Hall, Hastings, Minnesota, on the following terms: DATE AND INTEREST The Bonds will be dated June 1, 1973. Interest will be payable June 1, 1974, and each December 1, and June 1, thereafter. TYPE AND PURPOSE Negotiable coupon, General Obligation, for which the unlimited taxing powers of the issuer will be pledged, in addition to special assessments of approx- imately $565,000 against benefited property, $5,000 each, unless other denom- inations are requested by the purchaser within 48 hours after the award. The proceeds will be used to finance construction of various improvement projects within the City. MATURITIES AND REDEMPTION December 1, in the years and amounts as follows: $45,000 $50,000 $45,000 1974-75 1976-80 1981-83 All dates are inclusive. All bonds will be without right of prior redemption. PAYING AGENJ) May be named by bidder subject to issuer's acceptance, which may be assumed 1205 unless the purchaser is otherwise notified within 24 hours after the issuer has been advised of the proposed agent. Issuer will pay customary ch~rges. CUSIP NUMBERS The bonds will be printed without CUSIP numbers unless requested by the purchaser who must agree in the offer for the bonds to pay the cost thereof and to waive any extension of delivery time due to use of the numbers. However, if subsequent to award the issuer at its sole discretion selects a printer who does not made an additional charge it will then print the bonds with CUSIP numbers. In no event will the issuer be responsible for 0 the correctness of such numbers and incorrect numbers shall not be cause for refusal to accept delivery. DELIVERY Within 40 days after award, subject to the unqualified approving legal opinion of Briggs and Morgan of Saint Paul, Minnesota, and customary closing papers, including a statement of non-litigation. Bond printing and legal opinion will be paid for by the issuer. Delivery will be at a place of the purchaser's choice. Payment must be made in Federal Funds, or equivalent immediately available funds, on day of delivery. Legal opinion will be printed on the bonds. TYPE OF BID Sealed bids for not less than $467,200 and accrued interest on the principal .sum of $475,000 from the date of the bonds to date of dellI8EY must be filed with the undersigned prior to time of sale, together with a certified or cashier's check in the amount of $9,500. payable to the order of the TreasureE of the issuer, to be retained as liquidated damages .if the bidder fails to comply with the accepted bid. RATES All rates must be in integral multiples of 5/100 or l/B of 1% and may not 0 exceed 7% per annum. All bonds of the same maturity must bear a single rate from date of issue to maturity. Additional coupons may not be used. No limitation is placed upon the number of rates which may be specified. AWARD Award will bemaade on the basis of lowest dollar interest cost; determined by the addition of any discount to and the deduction of any premium from the total interest on all bonds from their date to their stated maturity. The Ret effective average rate of the issue may not exceed 7% per annum. The issuer reserves the right to reject any and all bids, to waive informal- ities and to adjourn the sale. Dated April 23, 1973 ATTEST: Uti. ~/.,.~ City lerk ER OF THE CITY COUNCIL allace H. Erickson City Clerk ATTEST._lJ .Ii ~,L..,.,. Cit Clerk Moved by Councilman Wilson, the meeting be adjourned. Ayes, all; Councilman Hallberg that o