1955-06-23VILLAGE OF MOUND
1563
On motion duly made, seconded and carried, the meeting adjourned
to reconvene on June 23, 19~.
Attest :.__~~~L
Village Manager
MINUTES OF ADJOURNED REGULAR MEETING, June 23, 19~5
Pursuant to due call and notice thereof, an adjourned regular
meeting of the Village Council of the Village of Mound, Minnesota
was duly held at the Villag.e Hall in the Village on Thursday, the
23rd day of June, 19~5 at 8.00 o,clock P.M.
Present were Mayor Behmler, Trustees Livingston, Litts and
Wenkstern, Attorney~ Bo~am and Village Manager Leikvold ~ and the
following were absent: Trustee Pierce.
STREET IMPROVEMENT BONDS &
FIRE HALL BONDS
Litts introduced the following resolution and moved its. adop-
tion:
BE IT RESOLVED By the Village Council of the Village of Mound,
Minnesota, as follows:
1. The Village Council deems it nec. essary and expedient to
issue the negotiable coupon Street Improvement Bonds of the Village'~
in the amount of $1~,000, consisting of 15 bonds in the denomina-
tion of $1,000 each, dated August l, 195~, bearing interest at the
rate designated by the successful bidder, payable semiannually on
February i and August l, in each year, which bonds are to mature
serially on February i in the amount of $3,000 in each of the years
19~7 to 1961, both inclusive, without option of prior payment.
2. The Village Council deems it necessary and expedient to
issue the negotiable coupon Fire Hall Bonds of the Village in the
amount of $35,000, consisting of 35 bonds in the denomination of
$1,000 esch, dated August l, 1955, bearing interest at the rate
designated by the successful bidder, payable semiannually on
February i and August i in each year, which bonds are to mature
serially on February i in the years and amounts as follows: $1,000
in each of the years 1957 to 1961, both inclusive, and $2,000 in
each of the years 1962 to 1976, both inclusive, all without option
of prior payment.
The Village Council shall meet at the Village Hall in the
564
VILLAGE OF MOUND
Village on the 18th day of July, 19~, at 8:00 P.M., for the purpose
of receiving and considering sealed bids for the purchase of said bonds
and the Village Clerk shall cause notice of sale to
be given by pablication at least ten days in ad-
vance of the date of sale in the official news-
paper of the Village and in Commercial West, a
financial paper published in Minneapolis,
Minnesota. Said notice shall require that all
bidders must furnish a single bid for both the
~1~,000 Street Improvement Bonds and the
~3~,000 Fire Hall Bonds and that separate bids
for the Street Improvement Bonds and the Fire
Hall goads will not be considered. Said notice
shall recite that the Village will furnish
printed bonds and approving legal opinion of
Messrs. Faegre & Benson, Minneapolis, Minnesota,
both ~thout e×pease to the purchaser, shall
require sealed bids accompanied by :a rood faith
check ia the amount of at least ~l%,0~U,
state that all bids shall state a single rate
of interest in multiples of 1/4 or 1/10 of one
per cent, an~ shall state that the bonds will
be payable at any smitab!e bank ~esignated
the successful bidder and that delivery will
be ms~o at the office of the purchaser within
fort~ da~s after the date of sale.
The motion for the adoption of the fore-
going resolution was duly seconded by Living-
ston, and upon vote being taken thereon, the
following voted in favor thereof:
Litts
Livingston
Wenks tern
BeB ml er
and the following voted against the same:
No ne
:--Thursday, July 14, 1955,
lofices
NOTICE OF BOND SALE
Village of Mound, Minn.
Notice is hereby given that
the Village Council of the Village
of Mound, Minnesota, will meet
at the Village Hall in said village
on Monday, the 18ih day of July,
1955, at 8 o'clock P. M., for the
purpose of receiving and consid-
ering sealed bids for the pur-;
chase of $15,000 Street Improve-
ment Bonds of the Village and
$35,000 Fire Hall Bonds of the i
Village, all bearing date Augusti
1, 1955, in the denomination ofI
$1,000 each, bearing interest atI
the rate or rates designated by]
the successful bidder, payable!
semi-annually on February l i
and August 1. The street Im-
provement Bonds will mature
serially on February 1 in the
amount of $3,000 in each of the
years 1957 to 1961, both inclu-
sive, without option of prior pay-
ment. The Fire Hall Bonds will
mature serially on February 1
in the years and amounts as fol-
lows: $1,000 in each of the years
1957 to 1961, both inclusive, and
$2,000 in each of the years 1962 to
1976, both inclusive, all without
option of prior payment.
Both principal and interest
will be payable at any suitable
bank designated by the purchaser.
Attest:
Village ~Man~a-g e r ' ~.
a Vor
whereupon said resolution was declared duly passe{
i The village wfl! furnished printed
bonds and approving legal opin-
On motion duly '_made, seconded and carried, thion of M. gssr~ Fae~re & Benson,
ad journed.
'~t expense to the p~
~r:' ~he bonds will be deli ~.v~!r~
~t~ ltie purchaser within
is~s from the date of saI~.
cmalpanied by an u~qualifled
~g legal opinion ,and
~ fln~l delivery pape ,1~
Cl/~g a certificate showin~
~ of litdgation.
All bids must be in writing'
'~ in a s~ale~ enveIope, be
~Ml~nditto~al except as to the
'~e .opirdon, stat~ one or more
in~ge~est rates in multiples of one
quarter or one-tenth of one per
cent and must be left with the
undersigned prior to. the above
time, aceompanied by a certified
check, bank draft or'~cashier's
check in the amount.of at least
$1,000, payable to the 'order
the village, to be foifeite~ as
liquidated damages in even,i the
bid is accepted and the bidder
fails to comply therewith. The
bid will be accepted which is
deemed most,favorable. Bidders
l are asked to state total net in-
{ terest cost and tl~e average ~nnual
{ net interest cOSt. An bidders
[mtmt furnish a single bid for
both the' $1§,g00 Street Improve-
ment 'Bond~ and tiie $~§,000 Fire
and no sepa~t~
or each of the:~.
er :lld o/less
to reject an.v,
Meund,