HomeMy WebLinkAboutResolution - 81 - Awarding the Sale of $54,000 Municipal Building Bonds, Fixing Form and Specifications, Directing Their Execution and Delivery and Providing Taxes for Payment - 05/12/1964 VILLAGE OF EDEN PRI TE
M, ZWEi COUNTY, LE N_MSOTA
A 1 OLUTION A14LIM I G THE SALE OF 304,000 I.TN'ICIPAL
BUILDIi?G 3 K I6, F=,TG TIE F01W AND SPECIFICATIONS
THIIEOF, DI1-LCTIi%TG TMIR EXECUTIGNT AHED DELIV,—J,UY
AND PMVIDZt1G TAXES FOR THEM? Pr IMM
RESOLUl'ION NO. 81
RE IT RESOLVED by the Village Council of the Village of Eden
Prairie, Minnesota, as follows:
1. The Bid of Firstbational Bank, Minneapolis, Minnesota
to purchase J54,000 11unicinal Building Bonds of the village described in the
notice of sale thereof, is hereby found and determined to be the highest and
best bid received pursuant to duly advertised notice of sale and shall be and
is hereby accepted, said bid being to purchase bonds bearing interest as
folloyls:
1966-1972 3.00%
1973-1976 3.20%
at a price of 4' 13, 199.04. The village treasurer is directed -vo retain the
good faith check of the successful bidder pending completion of the sale and
delivery of the bonds, and the village clerk is directed to return the checks
of unsuccessful bidders forthwith.
2. The village shall forthwith issue 1,unicipal Building Bonds in
the a-gregate principal amount of 5j54,000, said bonds to he dated
June 1, 1964, to be 54 in number and numbered l to 54, both inclusive, in the
denomination of Q`1,000 each, bearing interest as alcove set forth, ka-able June
1, 1965, and semiannually thereafter on June 1 and December 1 in each year, and
maturing serially on December l in the years and anoints as follows: i4,000 in
1966 and P'5,000 in each of the years 1967 to 1976, both inclusive, all without
option of prior payment.
3. Both principal of and interest on said bonds shall be payable
at First National Bank, Minneapolis, Minnesota
and the Village shall pay the reasonable charges of said bank for its services
as paying agent.
4. The bonds and the interest coupons to be thereto attache6 shall
be in substantially the following form:
Mv. *1,000
0/ITMD STLTU OF ARM MCA
BUTS Of NIUM UrA
COUNTY Ow ■MM APIN
• vi iax Of MDMM PRAZZI M
NOWICIPAL BVILDIM SCM OF 19"
KWX ALL JI M BY TIMM PZMdM*!'1t That the Vt 11sge of
Men Prairie, ieaaopla County, Klaaowota, acksovlodpee Itself to
be indebted asd, for value received, Hereby promises to pay to
bearer on the 1st day of December, It , without option of prior
payment , the sum of ONZ TEOUBAND DOLLARS MW to y interest
thereon from the date hereof until said pr4seipa emoer! is paid
at the rate of
interest to maturity payable Jule 1, lfte, ifd wMlIMF tbeee-
af t or on the lot day of Jame acid tbw lot dtt of DDs - to as"
year , in accordance with teed ages, peenealat"s and of
the interest coupons hereloo atfteMd as thft seirer244 fteme due.
Both principal asd interest nee payable at
in any cola or currency of the Slatted Staten of Mseleak MhAsh at
the time of payment to load tender for public and privato dMtee.
• For the prompt and full psyme.t of such principal *ad interest
Mr -
as the same respectively oo due, the full tebft-1 ar t- uM
taxing powers of tbo village have, Yuen and awe NrMy Upopmembly
pledged.
Tbis Mead is one of an ton* of iAW jo _ at,
all of like date aid tenor esusptt is to aatmrity t raft,
all issued for the Purpono of providing me"r for we t tad
equipping a nualc4al bull di � puroma t to auftw _Cored by
more than the, requisite, ■aver ty unto of the era rl-
lage voting at an oleet"s duly and log welt *all" fold -:ssd
pursuant to and in fall eo.farmity with the Cml tip si� and Isws
of the State of Manawmota.
IT IS MAST CWTIVIAD AM RWITIM fiat all sods, con-
ditions and tiro" rapirod by the Clortitutioa and is et fte
Btato of Minnesota to be dome, to happen and to be jmwiesmed pre-
codont to and is the isawLace of this bo d have bets dam, base _
happened and have bees. performed in rogular and dun f+eA, time
and aanaor as so required; that prior to the iaweaft+t b6prooft a
direct annual irropea lab le ad valorem tax sun bees drily levied
upon all of the taxable property in said village tar thus Tears
and in amounts as required by law, aad additional tams all be
levied upon all of said property, if requitreed$ wig Mul'!.-
t ion as to rate or asK mat; tad that flee iosusaes of thin bend
did not cause the of the villa64 to exceed am
constitutional or statutory limitation thereon.
IN •ITYMPS MMAW, The Village of Ids. Pesirie, sawo-
pin County, Vinmewots, by its Villa" Council, haw unused tIilw
bond to be executed 1n its behalf by the sigastures of toe iyw
and the- Yillage C*k, and its corporate seal* be hereto af-
fixed, and has caused the attached interest coiposs to be exe-
cuted and authenticated by the facsiaile signatures of said of-
ficers, all an of June 1, 1964.
'or ,
U '
Til-1
ags
(seal)
(Form of Coupon)
Noe
On. the lot day of June (December) , 1t the village
of ?den Prairie, Nessepia County , Miaaesots, mill tray to bearer
at
the sun not forth hereon for interest then due on its MmIcipal
Building Bond of 1964 dated Juse 1, 1964, No. .
• (facsimils s nature)
(facsimile sijmture)
Villag* clerk
5. The bonds shall be prepared under the direction of the
village clerk and shall be executed on half of the
village by the signatures of the mayor and the village clerk and
the corporate seal of the village shall be affixed to each there-
of, and the interest coupons shall be executed tad authenticated
by the printed facsimile signatures of said mayor and clerk.
Then said bonds have been so ezecuted, they shall be delivered
by the village treasurer to the purchaser thereof upon receipt
of the purchase price aad the purchaser shall not be obligated
to see to the proper applicatioa thereof.
6. There is hereby created a separate sisting fund for
said bonds, which shall be hold by the village treas-
urer and used for so other purpose than to pay principal of and
interest on said boads, provided that it any payment of principal
or interest shall become due whoa there is sot sufficient ■may
. in said fund to pay the same, the treasurer shall pay sash prin-
cipal or interest from the general fund of the village and said
general fuad shall be reimbursed for such advances out of the
proceeds of taxes levied pursuant hereto or other moaeys appro-
priated by the village council for such purpose, lato said
sinking fund shall be paid all proceeds of the taxes levied pur-
suaat to this r dad such other �aus �! be ro-
` cowed by the ♦il for the purpose of, or /e" d to.
the paynout of said ►oads dad iaterest.
7. There is bereby levied up m all of the tamble prop-
erty i& the vi11aW, a dine &NOMI ad m3emw tax
which shall be spread upon Me tact Rolle am 0013eetw tM sad
as a part `of ot•rt moral taxes of the *211AM. VhM& I= is
for the years sad is a mats as !+,hefts
ij" I im
19A 3,200 1970 6,300
1965 60000 1971 6,100
1966 60900 1972 6imo
19 .; 61,700 1973
1 08 -60600 1974 r�
7 :6� 1975
Rich of said leWl,M o_►i1 be Irrebeaseblas
vi l lag► reserve 10 dt
wbea there is meow 12�30me "r sit -
S. ?ho village elerb is beteiy iuth rd �.
to file vita Ue comty awditor 40 �.
ltinassota, a owtift" eefy of Iris resolutim, t peNoW MOM
such other iatei"tties as the eerai r- auditeW may revsi --Ved
• to obtain from t%e comaty auditor a sertifle"o flat sari-tax
has boon levied a" ale Loads have bees ostwed qpM hGo tit M
register.
9. The seuaty auditor of toausp" ComSy a M tw a i-
owe of the v:&II o are bereft -
od to prepare dad fwtalai to the tureisew of_ Raid = So
the attoraeys apptovlat fte Mae, oettified e@VIM of 41 -
ceediags aad reewds of **- silUge "Uting Iq said beeft and
to the fiaasclal sesiities a" of alre of am ll"p, a ehO
other ce rtifioates, a" UmMwlpft as w" bm !s*-
quired to shoe the f eft si'Mtia 1664& IMMIOQp or M qb*W by
the books dad roeet4s ii Obsi r estodr lid se raFI t rem
to the validity uad a�rhrlsh<llity of go" boy 4"-sue
strusuts, lacludbig am Mete for "Imbe4 -man be aammist
roproseatatious of the village as to 0e facts therein s00d.
ADOPTED by the council of the Village of Eden Prairie at a regular
meeting thereof held this 12th day of May, 1964.
Donald hsgers, 1lalrs __
Village of Eden ft irlo
ATTEST:
�4amee C. Brown, Village Clerk