HomeMy WebLinkAboutResolution - 79 - Providing for Issuance and Sale of $54,000 General Obligation Municipal Building Bonds - 04/14/1964 VILLAGE OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 79
A RESOLUTION P ROVIDTNG FOR THE ISSUANCE AND SALE OF $54,000
GENERAL OBLIGATION MUNICIPAL BUILDING BONDS
WHEREAS, at an election held in the Village on December 3, 1963, more
than the requisite majority of the qualified voters of the Village voted in favor of the
issuance and sale of $54,000 bonds to provide money to construct and equip a municipal
building; and
WHEREAS, the council has caused plans to be prepared and has applied
for the construction of said building; and
WHEREAS, the council has determined that the issuance of bonds in the
• amount of $54,000 will provide funds for the construction and equipping of said building;
NOW, THEREFORE, BE IT RESOLVED By theVillage Council of the Village of
Eden Prairie, Minnesota, as follows:
1 . The village council deems it necessary and expedient to issue the negotiable
coupon General Obligation Bonds of the village in the amount of $54,000, dated June 1,
1964, bearing interest at the rate or rates designated by the successful bidder, payable
June I, 1965, and semiannually thereafter on June I and December I in each year, which
bonds shall mature serially on December I in the years and amounts as follows: $4,000
in 1966 and $5,000 in each of the years 1967 to 1976, both inclusive, all without
option of prior payment.
2. The village council shall meet at the Eden Prairie School on Tuesday, the 12th
day of May, 1964, at 8:00 o'clock P.M. for the purpose of receiving and considering
sealed bids for the purchase of said bonds and the clerk shall cause notice of sale
to be given by publication at least ten days in advance of the date of "sale in the
official newspaper of the Village and in Commercial West, a financial paper published
in Minneapolis, Minnesota. Said notice shall recite that the village will furnish printed
bonds and approving legal opinion of Messrs. Howard, Peterson, LeFevere, Lefler and
Hamilton, Minneapolis, Minnesota, both without expense to the purchaser; shall require
sealed bids accompanied by a good faith check in the amount of at least $1,000; shall
state that all bids shall state not to exceed two rates of interest in multiples of
one quarter or one-tenth of one percent and may provide for additional interest in an
amount not exceeding $540, and shall state that the bonds will be payable at any suitable
bank designated by the purchaser and that delivery will be made within forty days after
the date of sale.
ADOPTED by the council of the Village of Eden Prairie at a regular
meeting thereof held this day of April , 1964.
Donald Rogers, Mayor,
Village of Eden Prairie
• ATTES
Jame Brown, Vil age Clerk