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1947-05-21VILLAGE OF MOUND the Villa was duly 1~7, at R.J. Rond and the ~ of a prop¢ an affida~ impr ovemer of said V~ affidavit property following appearing introduce~ fixing the to make a whose prop 9equired b Minutes 0~Meeting of the Village Council pf the Village of Mound, Hennepin County, Minnesota. · Pursuant to due call and notice thereof, an meeting of :e Council of the Village of Mound, Hennepin C&unty, Minnesota~ leld at the Council Room in said Village on the 21st day of May, $:00 o'clock P.M. ~he following members were present: Louise Huestis, LeRoy V. Alwin, ~rf, A.S.Newcomb, Larry Hetu, .~ .... i~ ,llowing were absent: None The President announced that the meeting was open for the consideration ,sed water main improvement in the Village of Mound. The Clerk produced ~t of publicatioD of a notice of' hearing on the proposed water main ~t showing publication thereof for two weeks in the official newspaper .llage, the last publication being on the ~ day of May, 19by, which was ordered placed oD file. The president then called upon all .wners present, either for or against said proposed improvement. The appeared and entered objections as follows: Name Objection There were no objections. After hearing and considering all objections, ~nd the property owners in favor of said improvement, Trustee A.S. Newcomb and read the followingwritten resqlution and moved its adoption: A RESOLUTION OF NEC~SITY FOR THE CONSTRUCTION OF WATER MAIN IMPROVEMENT. ~tEREAS, the Village Council h~s heretofore adopted a resolution time and place of a meeting to consider the adoption of a resolution ~ater Main Improvement in the Village of Mound, and ~KEREAS, notice of said meeting has been given to all property owners ~rty may be assessed therefor, by publication thereof in the manner law, and VILLAGE OF MOUND ~WHE~S, all parties interested in said improvement have appeared and the Village Council has heard and considered all objections and the arguments for and agaJ_nst said improvement~ NOW, THEREFORE, BE IT RESOLVED by the Village Council of the Village of Mound, Minnesota, as follows: 1. It is hereby determined that it is necessary and expedient to complete a Water Main Improvement in the Village of~kmd, more particularly described as follows: Laying water mains and appurtenances required in connection therewith and also service connections along the following streets or public alleys o£ the Village of Mound, to-wit: Langdon Road from Watertown Road to East Lane and along East Lane to the intersection between Koehler's Second Addition to Mound and the Village Subdivision of Mound Terrace. Said improvement shall be combined with the water main heretofore designed Water Main Improvement. No. 8. 3. The cost of such improvement, including the cost of engineering~ interest during construction, and necessary incidental expenses, shall be assessed against the property abutting upon the streets or alleys in which said water mains, appurtenances in connection therewith, or service connections are laid upon the basis of benefites to such property.. Adopted this 21st day of May, ~! (~/~fillage Clerk President of Village Council The motion for the adoption of the foregoing resolution was duly seconded by Trustee R.J. Bondorf ~~ vote being taken thereon, the following voted in favor thereof: ~o, R.J. Rondorf, A.S. Newcomb and Larry Hetu and the following voted agamnst the same: None whereupon, s~id resolution was declared duly passed and adopted, ard the Fre~ident being present affixed his signature thereto in approval thereof. The President announced that this was the time and place for receipt of bids for the purchase of $90,000 Certzficates of Indebtedness on account of Water Main Improvement No. 8 of said Village. All bids were received and tabulated and fouud to be as follows: Name of Bidder Interest Rate Amount of Bid VILLAGE OF MOUND Name Kalman J.N. Da ,_All!so~ the follo~ Nlnnesota on account is to purc percent pe hereby fou is hereby aggregate number and bearing l~ s emi-annu~ and matur~ in each oJ In~ebtedn~ date and 0 of said 4' f Bidder ~ Company in & Company and -Williams Company Interest Rate 1.80% 1.80 Amount of Bid $90,425.OO $90,500.00 Lfter due consideration of all bids, Member Larry Hetu .ng resolution and moved its adoption: ~ introduced .RESOLUTION SELLING WATER MAIN CERTIFICATES OF INDEBTEDNESS AND FIXING THE FORM THEREOF. 3E IT RESOLVED by the Village Council of the Village of Mound, as follows: ~he bid of J.M. Dain and Company and Allison-Williams Company , fop the purchase of $90,000 Certificates of Indebtedness of Water Main Improvement No. 8 of the Village of Mound, which bid ~ase said Certificates of Indebtedness bearing interest at 1.80 annum, payable semi-annually, at a price of $ 90,500.00 , is ad, determined, and declared to be the bid deemed most favorable, and ~ccepted. lhe Village of Mound shall forthwith issue its negotiable Certificates .f Indebtedness on account of Water Main Improvement No.8 in the .rincipal amount of $90,000, all dated June l, 1947, to be 90 in numbered from i to 90, inclusive, in the denomination of $1,O00 each, ~erest at the rate of 1.80 percent per annum, payable lly on the 1st day of June and the 1st day of December mn each year, ng serially on June 1st in the years and amounts as follows: $6,OOO 'the years 1948 to 1962, both inclusive, all Certificates of ~ss maturing after June l, 1956, being subject to redemption on said ,ny. interest payment date thereafter at par and accrued interest. BOth principal of and interest on said Certificates of Indebtedness shall be payable at the Northwestern National Bank of Minneapolis, olis, Minnesota, and the Village shall pay the'reasonable charges ~ing agent. ~he said Certificates of Indebtedness and the coupons thereto attached shall be in substantially the following form: VILLAGE OF MOUND UNITED STATES OF AMERICA STATE OE MINNESOTA COUNTY OF HENNEPIN VILLAGE OF MOUND No. $1,000 WATER MAIN IMPROVEMENT NO. 8 CERTIFICATE OF I~EBTEDNESS KNOW ALL MEN BY THESE PRESENTS that the Village of Mound, Hennepin County, Minnesota, certifies that it is indebted and for value received promises to pay to bearer the sum of ONE THOUSAND DOLLARS on the 1st day of June, 19 ~ and to pay interest thereon from the date hereof until paid at the rate of one and eight-tenthsercent (1.80 %) per annum, interest to maturity payable semi- annually on the 1st day~ of June and Decamber in each year in accordance with and upon presentation and surrender of the attached interest coupons as they severally become due. Both principal of and interest on this Certificate of Indebtedness are payable at the Northwestern National Bank of Minneapolis, Minneapolis, ~nnesota, in any coin or currency of the United States of America which on the date of payment is legal tender for public and private debts and to provide money for the prompt and full payment of said principal and interest as the same become due the full faith, credmt, and resources of said Village have been and are hereby irrevocably pledged. · This certificate of indebtedhess is one of a series of $90,000 of said certificates,.all of like date and tenor except as to maturity and redemption privilege, all ~ssued by the Village of No,md pursuant to and in conformitywith the Constitution and laws of the State of Minnesota thereunto enabling., including Sections h32.11 to h32.21, Minnesota Statutes and acts ameHdatory thereof and supplemental thereto, and is issued for the purpose of defraying a part of the expenses incurred and to be incurred in constructing a water main improYement in said VilLage, heretofore designated as Water Main Improvement No. 8. All Certificates of Indebtedness of this lssue maturing after June 1, 1956, are subject to redemption and prior'payment on said date and any interest payment date thereafter at par and accrued interest upon thirty days prior notice of such redemption which shall be given by mail to the bank where the said Certificates of Indebtedness are payable and to the last known holder. Hol~ers desiring to receive such notice must register their names and addresses with the Village Clerk. IT IS HEREBY CERTIFIE~D AND RECITED that all acts, conditions~ and things required by the Constitution and Laws of the State of Minnesota to be done, %0 ~mppen ~nd to o~ per±brmcdpr~u~b ~o ~ in %ne issuance of this certificate of indebtedness have been done, have happened, and have been performed in regular and due form, time, and manner as required by law, and that this certificate of indebtedness, together with all other debts of said 'Village, outstanding on the date hereof, does not exceed any statutory or constitutional limitation of indebtedness, IN WITNESS W%{EREOF, the Village of Mound, Hennepin County, Minnesota, by its Village Council, has caused this certificate of indebtedness to be signed by the President of its Village Council and countersigned by its Village Clerk and sealed with the seal of said Village, and the interest coupons hereto VILLAGE OF MOUND attached t,~ be executed and authenticated by the facsimile signatures of said officers, Lll as of June l, 19h?. President of-Village Council '" Countersig ~ed: (Form of Coupon) No. $ )n the 1st day of June (December), 19 , the Village of Mound, Hennepin County, Mi mesota, will pay to bearer at the Northwestern National Bank of Minneapo~.[is, Minneapolis, Minnesota , the sum of DOLLARS, being the ~,nstallment of interest then due on its Water Main Improvement No. 8 Certificat~ of Indebtedness, dated June 1, 1947, No. . President of~Village Cou6cil Countersigi ed:  ge ~lerk 5- ~he President of the Village Council and the Village Clerk are hereby Suthorized and directed to cause to be printed Certificates of IndebtedneSs in substantially .the above form and to execute the same and affix the Villag~ seal thereto, and to cause the interest coupons to be executed and authentica';ed by the printed, engraved, or lithographed facsimile signatures of said o ffic~rs. 6. ~hen said certificates of indebtedness have been duly executed as ~equired by law, they shall be delivered by the Village Treasurer to the purch~ 3er thereof upon receipt of the purchase price, and the said purchaser shall not De obliged to see to the application of said purchase price. Attest~ v Vi~la~e£~ Preslden~b of village Council ~he motion for the adoption of the foregoing resolution was duly seconded by Member R.J. Rondorf , and up~on vote being taken thereon the following voted in favor there~of: Lo~?: Hu~o~io, R.J. Rondorf, A'g'Newc°mb audLarryHetu ~ and the following voted against the same. None whereupon The abov~ taid resolution was declared duly passed and adopted. buslnes~ concluded, the meeting sdJourne d.