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1955-07-18i_568 VILLAGE OF MOUND MINUTES OF THE ADJOURNED BOARD OF REVIEW MEETING July 11, 1955 The Council meeting as the Board of Review was called to order at ll~.O0 P.M. at the Village Office by Mayor Behmler. The minutes of the Board meeting of June 29 were read and on a motion by Livingston, seconded by Wenkstern, were unanimously approved as read. The Board reviewed the method of assessing, checked on some of the personal property, and there being no taxpayers present, approved the assessment and signed the book. Attest: on motion duly made, seconded and carried, the meeting adjourned. Villag~ Manager MINUTES OF ADJOURNED REGULAR MEETING, July 18, 1955 Pursuant to due call and notice thereof an adjourned regular meeting of the Village Council of the Village of Mound, Minnesota, was duly held in the Village Hall in said village on Monday, the 18th day of July, 1955, at 8:00 o'clock P. M. The following members were present: M~vor Behmler, Trustees Livingston, Litts, Wenkstern and Pierce, Attorney Bonham and Manager Leikvold. and the following were absent: None The Mayor announced that the meeting was convened for the consideration of bids for the purchase of $15,O00 Street Improvement Bonds and $35,000 Fire Hall Bonds as advertised for sale. The Clerk presented the sealed bids which had been delivered to him prior to the time specified in the notice of bond sale, and said bids were opened, examined and found to be as follows: VILLAGE OF MOUND i569 Name of Bidder viper, jaffray & Hop woo d Kalman & Company J. M. Datum & Co. Interest Rate_ Amount of Bid~ street improvement Bonds 3.00% Feb. l, 1957 through 1961. Fire Hall Bonds 3.00% for bonds maturing Feb. l, 1957 through 1970, 3.10% for bonds maturing Feb. l, 1971 through 1976. (Net interest rate: 2 3/~% for bo~ds maturing .20% for bonds matur- 1957-6~, 3 eDarate and ing 1965-1976 plus s _ additional coupons at the annual rate of 1.3% on all bonds from 2.1_56 to 2-1-57. (Net interest rate: 3. 227%) 3% for maturities 1957 through 1966, inclusive, aha 3.10~ for maturities 1967 through 1976 inclusive· (Net interest rate: 3.06737%') $35,000 plus accrued interest $35,000 plus accrued interest $35,000 plus accrued intarest Afterdue consideration of said bids Trustee introduced the following resolution and moved its adoption: RESOLUTION AWARDING SALE OF Litts STREET I~iPROVEMENT BONDS AND Fl,RE HAIS4 BONDS .... V:lla~e Council of the Vil~lage of Mound, ~-- .,~,~ Stree~ ~ ....... to purchase Sip, Bonds of the village described in the notice of sale thereof, hereby found and determined to be the highest and best bid received pursuant to notice of sale and shall be and is hereby accepted, said bid being as follows: each year,. February l, 1957 street improvement Bonds $3,000 $1 000 each · · ~2,000 through 1961, both inclusive. Fire Hall Bonds , . 1961, both inclusive, ...... ar~ l, 1957 tb~.oug~. ,- ~76 both inclusive eal~ Feoi'u J t~hrotxg~ ~-7~ , · Y ~' .... webruary l, 1962 f~. ,~ interest rate bein_~. e.ac~,_a~{~=%'~t'ion of prior Pa~me~n~?o~;uarv l, 19~7 throug~ for bonds maturing February l, · all Bonds 3.00% . . 'n Febr:ua~ l, 196!. F~re H l0 o for bonds ma_t.ur~_g~. ~ 19~ and ~q7 through 1979, 3. _~ .... ~avable veoru~'~ 1971 l~nro'u~_~ *Z~_~arv 1 and ~ugusv semi-annually ~,.~v~-- ,~ . VILLAGE OF MOUND The village treasurer is directed to retain the good faith check of the successful bidder Pending completion of the sale and delivery of the bonds, and the clerk is directed to return the checks of un- successful bidders forthwith. The motion for the adoption of the foregoing resolution was duly seconded by l'rustee Wenkste~n , and upon vot~e being taken thereon the following VOted in favor thereof: Litts, Wenkste~n, Livingston and Behmle~ and the following Voted against the same: Pierce whereupon said resolution wa~ declared duly passed and adopted. Trustee Litts then introduced the following resolution and moved its adoption: A RES 0~.UTI ON ~IXING ~HE ~0Pd~ AND SPECi~iCAi~iONS 0~ $35,000 ~IRE HAZt~ BONDs, DiRECi~iNG ~HEIR EXECUTION ~n~ DE~.IVERY AND PROVIDING ~AXES AND ~i~DS ~OR i'HEIR PAYMEN'-'~ BE IT RESOZVED by the Village Council of the Village of Mound, Minnesota, as follows: 1. The Village of Mound shall forthwith issue its negotiable coupon ~ire Ha principal amount of $35,000. s ~ ~^~_l~l B?nd_s in the agar · a~d ~s ~ ~ ........ e .... to be 35 in number and numbered i to 35, both inclusive, in the ~ ~ ~a~ee Xugust l, 1955, denomination of $1,000 each, to mature serially on ~ebruary i in the years and amounts as follows: $1,000 in each of the Years 1957 to 196l, both inclusive, and $2 000 in each of the years 1~62 to 1~76, both inclusive, without o~tion of prior_payment, are to bear interest payable semiannually on ~'ebruary iwhich bonds in each~ Year at the following rate: and August 1 3.00% fo~ bonds maturing ?eb~uary 1, 19~? t~ough 1970 3.10~ fo~ bon~s mat~ing ?eb~a~y 1, 1971 through 1976 2. Both principal of and interest on said bonds shall be payable at the ~o~thweste~n National Bank , in the City of Minneapolis Minnesota, the village shall pay the reasonable charges of said bank for its services as paying agent. ' and VILLAGE OF MOUND No · The bonds and interest coupons be in substantially the following form: UNITED STATES OF AMERICA STATE OF MIN1CESOTA cOUNTY OF KENNEPIN VILLAGE OF MOUED thereto attached shall $1,000 FIRE HALL BOND KNOW ALL MEN BY THESE PRESENTS That the Village of Mound, Hennepin County, Minnesota, hereby acknowledges itself to be indebted, and for value received promises to pay to bearer on the 1st day of {ebruary, 19 , without option of prior payment, the sum of ONE pay i _. ..... ~A ~ ~see,,~ below) THOUSAND DO~ a_nd to nterest thereon from t~h~., date hereof · ~ ~ne z'~ ~ ~ on the until the principal sum is pala, .a ...... ~ semiannually ' a/~Ilblm, in~eres~ lJ~J per cent ( * ~) per of February in each year in accord- 1st day of August and the 1st day ance with and upon presentation and surrender of the interest coupons hereto attached as they severally become due. Both principal and interest are payable at the main office of Northwestern National in the City of Minneapolis , in any coin or time of payment Bank currency of the United States of America which at the is legal tender for public and priwate debts. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith, credit and taxing powers of the village have been and are hereby irrevocably pledged. This bond is one of an issue of $35,000 principal amount of bonds, all of like date and tenor except as to maturity all issued by said village for the purpose of' providing money for the constructiOnm of a building for the hous- ing of fire equipment, pursuant to authority conferred by more than the requisite majority vote of the electors voting at a special election duly and regularly called and held, and is issued pursuant to and in full conformity with the Constitution and Laws of the State of Minnesota. IT IS HEREBY CERTIFIED AND RECITED That all acts, conditions, and things required by the Constitution and Laws of the State of · x- three percent. (3.00%) for bonds maturing FebruarY l, 19~ through 1970; three and one-tenth percent. (3.10%) for bonds maturing February 1, 1971 through 1976 VILLAGE OF MOUND Minnesota to be done, to happen, to exist and to be performed r _ dent to and~in the issuance of thi ~ - .... Pece s e .n__~o~ne, have happened sa ave be_e.n performed i , equired, that ~rior .A ~ _. ~e ~orm, ~ime and annual irre~ealab~ -~ -._. ~ ~.~ ~ne ~ssuance ~ · t ~ ~= ~ vazorem ta e.reof a direct ashe taxable property in the vill~X~a~s.b+e~e_n duly levi_ed upon all of -~ ..... ~ne years ant i required by law, and additional taxes will be levied upon all of ' ~* u~le a~rrlolln-~s said property~ if needed for such purpose, without limitation as to rate or amount, and that the issuance of this bond did not cause the indebtedness of the village to exceed any constitutional or statutory limitation thereon. I.N WITNESS WHEREOP, the Village of Mound, Hennepin County, Minnesota, Oy the Village Council, has caused this bond to be executed in its behalf by the signature of the Mayor attested by the Village Clerk and its corporate seal to be hereto affixed, and has caused the attached interest coupons to be executed and authenticated by the facsimile signatures of said officers, all as of August / , 1955. Att est: Village Clerk -- Mayor (Seal) ('Form of Coupon) No. On the 1st day of August (Pebruary), 19 , the Village of Mound, Hennepin County, Minnesota, will pay to bearer at the the sum of DOLLARS for interest then due on its Fire Hall Bond dated August l, 1955, No. ~/~' Village Clerk---------- ~. The bonds shall be prepared under the direction .of the clerk and shall be executed on behalf of the village by the signature of the mayor and attested by the clerk and the corporate seal of the village shall be affixed to each thereof, and the interest coupons shall be executed and authenticated by the printed facsimile signatures of said mayor and clerk. When said bonds have been so executed they shall be delivered by the village treasurer to the purchaser thereof upon receipt of the purchase pri~e heretofore agreed upon and the purchaser shall not be obli- gated to see to the proper apPlication thereof. 574 VILLAGE OF MOUND taken thereon the following voted in favor thereof: Litts, wenkstern, Livingston, Behmler and the following voted against the same: ?ierce whereupon said resolution was Trustee Litts declared duly passed and adopted. introduced and read the follow- ing written resolution and moved its adoption: BE IT RESOLVED by the Village Council of the Village of Mound, Minnesota, as follows: ~' . · with issue its Street Improvement . The village shall fo~h . amount of $15,000 to b~ l_ Bonds in the aggregate principal dated August l, 1955, in the denomination of $1,000 each, numbered 1 to 15, both inclusive, said bonds to mature on January I in the years and amounts as follows: $3,000 in each of the years 1957 to 1961, without option of prior payment, bearing interest payable semiannually on February i and August i at the following rate: ~.00% February 1, 19~7 through 196~ 2. Both principal and interest western National Bank in the City of Minneapolis village shall pay the reasonable charges vices as paying agent. 3. The bonds and the interest coupons to be thereto attached shall be in substantially the following form: UNITED STAf~S OF AMERICA STAT~ OF MINNESG~A COUNTY O~ HE~NEPIN VILLAGE OF MOOND No · shall be payable at the North- , Minne sot a, and t he of said bank for its set- $1,000 STREET iMPROVEMENT BOND KNOW ALL MEN BY THESE PRESENTS That the Village of Mound, Henne in County, Minnesota, acknowledges itself to be indebted and · ' es to pay to bearer, without option r evPalue rece~ved..here__b_Y_ prom~s THOUSAND DOLLARS on the 1st day of fo -~ ,.~ ~,~ of ONE of prior paymen~, ~braa~y, 19 , and to pay interest thereon from the date hereof .... ~til ~he.~principal .~mo~ is paid, at the rate VILLAGE OF MOUND 5. i'here is hereby created a separate sinking fund for said bonds, which shall be held by the village treasurer and used for no other purpose than to pay principal of and interest on said bonds, provided, that if shall become due wh~ ~-- · .any payment of ~p.ay the same, the t~.z~e~-e- z.s ~n_o~ sufficient mo~e~'~~.~u~zn~e,res~ ~ne gener~ ~ ....... yyo~-~ snail pay such ~ _. _ _ ~* ,u~,~ o~ ~ne villa~ ~ __ ~*"*u_~pa± or inter lmOU~sed fo]~ s,,~ ~-- ~, ~**u said ~e~-~, ~ ...... est from o or other moneys approori~,~c~,_°f ta~es levied such P~pose ..... ~ ~ne ~,~a- .... ~ - ' --~8~ co~cil for ~here is hereby levied upon all the taxable property in the village a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as a part of other general taxes of the village, which tax is in the years and amounts as follows: Year Le__~XZ 19~'~' 2800 19~6 2200 1957 2200 19~8 2100 ~. 19~9 2100 196o ~ 31o0 1961 3o0o 1962 30oo ] 96~ 2900 1964 2800 _Year ~ 196~ 2~00 1967 27OO 1968 2600 1969 25'00 1970 2~00 1971 2400 1972 2300 1973 2.$00 1974 2200 l-C)65 2800 Each or said levies shall be irrepealable, provided that the village reserves the right to reduce said levies in the manner and to the extent permitted by law. 6. i'he village clerk is hereby authorized and directed to file with the County Auditor of Hennepin County a certified copy of this resolution together with such other informa_ tion as the County Auditor may require, and to obtain from the County Auditor a certificate that such tax has been levied and the bonds have been entered upon his bond register. 7. The officers of the village are hereby authorized and oS~ladl~ directed to prepare and furnish to the Purchaser o~nd__s_and~ to the attorneys approvi~ t~-- . of ~'oceecings and records of t~- -*-'*?~ ~e sa~mef cer?ified copies and to the financial condition and z_~_v~m~age~ .r.e±azin~g ~o said bonds other cezCificates, affidavits and ~ar~a~rs. o.z ~ne vil±age, and such show the fact · . ~ranscrzp~s as may be r ' s withmn themr knowled e o o~ ~ ......... equmred to g r ~o o,,uwzz oy ~;ne DOcks and records in their custody and control relating to the validity and marketability of said bands and such instruments, including any heretofore furnished, shall be deemed representations of the village as to the facts therein stated. The motion for the adoption of the foregoing resolution was duly seconded by 2~rUstee ~fenkste~n , and upon vote being [576 NOo VILLAGE OF MOUND (Form of Coupon) '0n the 1st day of February (August), 19 , the Village of Mound, Hennepin County, Minnesota, will pay to bearer at Y~innesota, the sum of in the City of DOLI~RS, being the installment of interest then due on its Street Improvement Bond dated August l, 1955, No. · --~yor ~.-illage lerk ' 5. The Clerk is directed to cause said bonds to be prepared and the Clerk and Mayor are authorized and directed to execute the same and affix the village seal thereto and to cause the interest coupons to be executed and authenticated by the printed facsimile signatures of said officers. ~v ,' 6. The assessable cost of the following designated street improvements is hereby determined to be the sum of $1~,-000.00 , and said improvements are to be paid in full by special assessments to be levied upon the property abutting on the improved streets.~ All of Grant .~venue ~nd Yale Avenue South of Highway #1~ and th_e fpl~ow.i~n~ p~,o.~er_.t,y:- part of Bloc~ 2, un;t D sh'ir±ey Hills; Part of R.L.S. No. 12~; That part of Shirley Hills Unit "D" Block 2 lying north of county Road #7 west of county Road No. 12~, Lot A and e~st of the west ~7, boundary of Lot A, above, extended southsastward to county Road ; part of Lot l, part of Lot 2, Lot 3, part of Lot $, part of Lot part of Lot 6, in Block 7, Shirley Hills unit "B"; part of Lot ll, part of..Lot 12, part of Lot 13, part of Lot 15, part of Lot l~, Lot 16, Lot 17, part of Lot 18, in Block ~, Shirley Hills Unit "B". 7. The bonds issued hereunder shall be payable from Street Improvements of 1955 Fund hereby created, provided tha~ if any payment of principal or interest shall become due when there is not sufficient money in said fund to pay the same the 'Zreasurer shall pay such principal or interest from the general funds of the village and such funds shall be reimbursed for such advances out of proceeds of assessments and taxes for said improvements when collected. Into said fund shall be paid all proceeds of assessments and taxes lev- ied for said improvements and for payment of the bonds issued hereunder. 8. The estimated collection of special assessments pledged for the payment of said bonds will produce at least five per cent in excess of the amount needed to meet~ when due, the prin- cipal and interest payments on the bonds. The Ulerk shall deliver a certified copy of this resolution to the County Auditor of Hennepin County and obtain his certificate as required by law. VILLAGE OF MOUND per cent ( 3 00 o~ · /o) per annu~, interest to maturity payable semi- annually on the let day of February and the let day of August 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 bond are payable at Northwestern National Bank of Minne~.~o!is in the City of Minneal';olis Minnesota, in any coin or currency of the United States of America which on the date of pay- ment is legal tender for public and private debts. ?his bond is one of amount of ~15,070, all o ~a~_~ssue~of bonds ~n the total principal g , and ~s payable primarily from f special assessments to be levied against property specially benefited thereby but constitutes a general obligation of the village, and to provide moneys for the prompt and full payment of said principal and interest as the same become due The full faith and credit of the village is hereby irrevocably pledged, and the village will levy ad valorem taxes if required for such purpose without limitation as To rate or amount. I2' IS KEREBY CER~'IFIED A~D RECITED That all acts, conditions and things required by the Constitution and Laws of the State of Minnesota to be done, to happen, and to be performed precedent to and in the issuance of this bond have been done~ have happened and have been performed in regular and due form, time and manner as re- quired by law; and that this bond together with all other indebtedness of the village outstanding on the date hereof and the date of its actual issuance and delivery, does not exceed any constitutional or statutory limitation thereon. IN WITNESS WHEREOF the V' . Minnesota, by its V~-~ ~' -- zllage of Mound. Henn~-~- r,__- ted. by?he ~yor and th~ V~=o.- A~ha? ca~used th~s bond to be execu-' sea~ ox' said village and t~'~t~;eesr~ ~a_nm seal.ed ~ith the corporate executed and authenti~+~= ~ .... c.o~upon.s nerevo attac ed to be officers, all as o A~ ~Y ~=e=!acszmz±e szgnatures of sahzd Village Clerk (Seal) Mayor VILLAGE OF MOUND i577 9. The said bonds when fully executed shall be delivered by the treasurer to the purchaser thereof upon receipt of the purchase price, and the purchaser shall not~ be obligated to see to the proper application thereof. 10. The Clerk and Treasurer are authorized and directed ~o prepare and furnish to the purchaser and to the attorneys approving said issue, certified copies of all proceedings and records relating to the issuance of said street improvement bonds and to the right, power and authority of the village and its officers to issue the same and said certified copies and certificates shall be deemed the representations of the village as to all matters stated therein. The motion for the adoption of the foregoing resolution was duly seconded by '/k'ustee Wenkstern , and upon vote being taken thereon the following voted in favor thereof: Litts, ~denkstern, Livingston and Behmler and the following voted against the same: Pierce whereupon said resolution was declared duly passed and adopted. SHIRLE~ HILLS STORM SEWER Assessment Livingston offered the following resolution and moved its adoption: WHEREAS, a contract has been let for the improvement of ce~- rain roads and property in Shirley Hills, Unit "D" and Shirley Hills, Unit "B" by the installation of a storm sewer and the con- tract price for such improvement is $3,714.70 and the expenses . incurred for the making of said tmpPovemsnt amount..to $!,200.00, so that the total cost of the improvement will be $4,914.70 and of this cost, the Village.will pay $1,200.00 as its Shave of the oost, NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF MOUND, MINNESOTA: 1. The cost of such improvements to be specially assessed is hereby declared to be $3,714.70. 2. The Village Manager, with the assistance of pfeifer & Shultz, consulting engineer, shall forwith claculate the proper amount to be apecially assessed for such improvement against every assessable lot, piece or parcel of land within the dis- trict affected, without regard to cash valuation, as provided by law, and he shall file a copy of such proposed assessment in VILLAGE OF MOUND his office for public inspection. 3. The Village Manager shall, upon the completion of such pro- posed assessment, notify the Council thereof. Trustee Litts seconded the motion, and the roll being called, the vote was: Livingston Aye Litts Aye Pierce Aye Wenks tern Aye Behmler Aye and so the motion was carried. SANDER Pierce moved that $640.00 be put into the 1956 Budget for 'a sander and that the Manager be given permission to purchase one immediately if a payment can be deferred until 1956. Litts seconded the motion and it was adopted unanimously. CASHING VILLAGE CHECKS Pierce moved that the present Village Treasurer, Mrs. Louise HUestis, be authorized to cash Village checks at the Mound State Bank, this resolution to take effect after a letter has been re- ceived from the bonding company or its agent stating that the Treasurer,s Bond covers this operation. Wenkstern seconded the motion and on a roll call the vote was as follows: Pie rc e Aye Wenkstern Aye Litts Aye Livingston Aye Behml · r Aye and so the motion was adopted. FIRE HALL Plans for the Fi~e Hall were discussed with the architects. On motion duly made seconded and carried, the meeting adjourned to reconvene on July 25, 1955. Village Man'Age~"