1951-10-15VILLAGE
ADJOURNED MEETINGt October 15,'~1951.-
'Meeting called to order at 8:00 p.m. by Mayor Davis, White
and Bly present. Pierce and Winkel absent.
Hearing on Broderick Avenue Improvement. Notice of Hearing
read. Cost estimate prepared by Harry Holmstrom, engineer
for Republic Creosote Co. of St. Louis Park. He estimated
that 100 y~ards of gravel at 85~ a yard and 1900 gallons of
tar @ 21~ a gal. --total on materials, $484. An additional
~420. is estimated for hauling t~e material add putting it
in place. John Rossi, Carl Eklof and Heleine Beane who
had signed petition were preeent for hearing. After
discussion sentiment of both petitioners and council was
for undertaking improvement. Following resolution offered by
White: second by Bly.
WHEREAS, a resolution of the village coun~l adopted the 2nd
day of October, 1951, fixed a date for a hearing on the
proposed improvement of Broderick Avenue from the Montclair
Crossing to Willowm Point bv widening, re-surfacing and
providing drainage, and,
~HEREAS, all property owners whose property is liable to be
assessed for the making of this improvement were given two
weeks, published notice of the council hearing and the hearing
was bela and property owners heard thereon on the 15th day of
0ctcb er, 1951,
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE VILLAGE
OF MOUND,
1. Such improvement is hereby ordered as proposed in the
council resolution adopted October 15, 1951.
Adopted this 15th day of October, 1951, three ayes.
CERTIFICATES OF INDEBTEDNESS.-Notice of request for bids read
Bid of State Bank of Mound of ~ '
Resolution offered by Bly: 2~% interest read. Following
WHEREAS, on the 4th day of September, 1951, the village
ma~M~ger was directed to advertise for bids for the purchase
of $5000. in certificates of indebtedness of this ~illage to
finance the purchase of certain fire and street equi~m~ent:
A~D WHEREAS, this advertisement was duly published and the
bid has been received
and opened and the following bid appears
to be in prop~er form: State Bank of Mound, 2~% interest;
AND WHEREAS, it appears that the bid of the State Bank of
Mound offers th~ lowest n~t intere, st rate and is therefore
best,
BE IT RESOLVED BY THE VILLAGE COUNCIL OF MOUND, MINNESOTA:
. The bid of The State Bank of Mound for the purchase of
5000. of the certificates of indebtedness authorized to be
issued by resolution of the council on 8ctober 23, 1950,(fire)
and September 4, 1951 (street eq~ipment) is hereby accepted.
~en~o~e8 s~ove.
Seco~ ~ ~e. ~h~ee ~Tes on ~o~ cs~ ~o~e.
kSop~e8 ~ ~e co~nc~ ~s ~ 8a7 o~ Oc~o~e~
ADVERTISING SIGN fo~ Minnetonka Furniture. ~ letter from
K~rl Gruhn, owner of Minnetonka Fu~rniture, was read. Gruhn
was also present~. In the letter and in person he requested
pe~ission to place a sign on the propert~ o~ed by Rasse~l
Bre~ette~ ~u~t west of the Mound Builders Supply. After
some discussion Blv moved, ~ite seconded, that the matter be
tabled until more mouncilmen were present. Carried.
Letter from A. R. Kelly, district engineer of the Great
Northern Railway Co., read concerning raising the crossing on
No. il0. Kelly stated t~e work would be done t~is fall.
Bly offered the followi~ RESOLDTION:
~REAS, bv a resolution dated September ~, 1951, the village
council of Mo~d has authroized the ~ssuance of certificates
e e~ ~r ~e~yp~~.; ~ street equipment in the
the coumcil has awarded the certificates to the State Bank
of Mound;
AND 'w~ERE.AS, M.S.A. , Sec. 475.61 requires the councll of ~y
municipality issuing obligations to le~ b~ resol~ion prior
to delivery of the obligations a general tax for the pa~ent when
due of the principal add inter~ st on the obligations,
BE IT RESOLVED BY THE NILLAGE COU~CII. 0F MOUe, MI~~]~ESOTA:
1. There ts hereby created a si~ing fund which shall be used
only for paying principal ~d inter st on street equipment
certificates of indebtedness issued by the council purmuant t6
resolution dated September ~, 1951, to finance the purchase of
certain street equipment. Into this fund shall be paid all
receipts from the taxes levied in this resolution and any other
money appropriated to the fund from any other source. If ~y
principal or interest on the certificates becomes due when there
is not sufficient money in the fund to pay it, the village treas-
urers shall make up th~ deficit from the general~ fund of the
village and the general fund shall be reimbursed for such ad-
vances from the proceeds of the taxes levied in this resolution.
2. There is hereby ~ vied upon all the taxable property in the
village a direct, annual, irrepaalable, ad valorem tax which shall
be spread upon the tax rolls and collcted with ~d as a ~R~t
of the other general property taxes in the village in thb ~ears
and amount as follows$ 195~- $1000., 19~-'$2000' 195~-$1000'
ed~ess of the. Villal~e of Mound to
finance the purch~e of certain
M~et and fire equipment. Certif~
JesSes of Indebtedness shall be in
denon~ii~tions and mature ss
follows:
No. 2 for $1,000. due February
1, 1953
No. 1 for $1,000. due February
1, 1953
Nog. 2 and 3 for $1,000 each due
~'.~__ February 1, 1954
,i'~,~.o. 4 for $1,000. due February
~i<~- 1, 1955.
cares of Indebtedness
~l~ear~ an interest rate deter-'
at the .sale until' maturity~
will be supported by the
faith and credit of the villag0~
The rillage will furnish the legal
opinion of Herbert E. Wolner
~he validity of the, certificates,~
Bids wil/ be opened and con-'
~idered by the village council on
.October 15, 1951, in the council
~hambers. The Certificates will be
.offered to the person who will
pay par or better therefor at the
lowest rate of interest.
,of Mound
~-~torey,
edne~ ot the Vi~ge ot Mo~d to
f~ace the p~c~e of ceftin
s~et ~d ~e eq~pmant. Cegif-
ica~ oi ~debte~ess sh~ be
d~o~natio~ ~d matte
~Hows:
Ho. 2 for $1,000. due Feb~
.1, 1953
~o. i for $1,000. due ~eb~
1, 1953
Nos. 2 ~d 3 for ~1,000 each d~
Feb~ 1, 1954
Ho. t for ~1,000. due Feb~
1, 1955.
C~cates of ~bte~e~
sh~ be~ ~ ~terest rate deter-
~ at the s~e ~t~' maurity
~d.~ be sup~ by
f~ ~d ~edit of ~e ~Hage.
The ~age wffi t~h the legal
op~on oi Her~rt E. WoOer on
~e v~ty of th)ce~i~t~.
Bids wffi be opened ~d con-
~ide~ by the ~Hage co~cil on
· Octo~r 15, 1951, ~ ~e co~cil
~h~rs. The Ce~Hicates wffi be
.offend to the pe~n who
pay p~ or better therefor at the
.lowest rate oI ~te~st.
Village .of
. ' ~ ~ C. Storey,
{10~