HomeMy WebLinkAboutResolution - 439 - Establishing Bond Sale Date $2,500,000 G.O. Improvement Bonds - Sept. 28, 1971 - 08/10/1971 Aieriber Lieb introduced the following resolution
I
and moved its adoption :
RESOLUTION r4o. 439
RESOL LTTION PROVIDING FOR PUBLIC SALE
OF $2 , 500 ,000 GENERAL OBLIGATION SEj1ER
AND WATER BONDS ( SERIES 2)
BE IT RESOLVED by the Village Council of the Village of Eden
Prairie , Minnesota, as follows :
1 . This Council shall meet at the time and place specified
in the form of notice hereinafter contained for the purpose of receiv-
ing sealed bids for and awarding the sale of $2 , 500 , 000 General Obliga-
tion Sewer and Water Bonds (Series 2 ) of the Village ; comprising
$2 , 455 , 000 principal amount of bonds to be issued for the purpose of
sewer and water improvements , and
$455000 principal amount of additional. bonds of the same series to be
issued pursuant to Minnesota Statutes , Section 475 . 56 , in evidence of
a part of the interest to be contracted to be paid on the bonds .
2 . The Clerk is authorized and directed to cause notice
of the meeting to be published in the official newspaper of the Vil-
lage and in the Commercial West , published at Minneapolis , Minnesota,
at least 10 days before the date of said meeting in substantially the
following form :
i
-1-
C,
L -,-.
D
T, 11 7 T I
1 0 U 1 V T 7 T 7 S I!.
1 I-Ile '`Ti] 1, a,,, C( -ii of tl-ie
1-e V 1 11 a,-,, e Hall_ ire
�T j
t Vi 1, j, 1", SP,T -,er[JI -1 at 7 -3)0
2 8 1
i i an C r -Por the
T)U C,1_j
-C, C u "D _;eir-,el,.-, obliE,,,tlon bonds
0J, t 1 -1 -1 "o1.1u".1in! torm,:3
Dat,7_- r,
1'-id 1 1 1) cl�7, r vo i i-, u j-1 denomination of
J c--., j n
000 -1 and I -,ia�-ure on August 11
U J!,d(!e r c p t i o i i
:1.1-1 t)-ie f'o 1-i"
Y en� r 1,1r; u rl t Y C_-a I, Amount
1' 7 11 5 C) 00 9 F,,3 $11 0 000
1.97 5 1.00 000 1-984 PD 0,()0 0
1.976 1 0 0 C)C, 1 200,000
1.9'(7 100 , 000 19 P)6 2()0 , 0 0 0
1,c-)'fl 8 125 , 000
200 , 000
1 Ci 7 Q C)0 0 20. n 01 019 ° )
r
-195 nr-O
2 G u 0 G 0
1 12'5 00 1990 200>000
10182 150 , 000
Redorrli-)tion TOc-ature
C3 throu ', 1-9. 90 wi1.1 each be subject to
-iiid prepavj!ient at tf-io option of the Villac),e and in inverse
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numer.! cal o_rder , on !_,'obruar� 1 3 pay a i any interest ment date
tl)()_�-'Oaftev5 at 101io of par plus, accrued ii.-terest
Intere-.t
Intel.,e,,,t on tlie bonds will be payable on August 1 .5 1972 , and semiannually
ti,(-relafter an ec--_,ch Fc<.,Ihruary 1 and Auust 1 . All bonds maturing on the
saris date iinu,-,,.'L bear inter-e,,t from date of issue until paid at a single ,
UnIforl"i not exceedin,r, the rate spccijfied for bonds of any subse-
quent mat-urit.y . Not :core than eig--Sht inte3.-°est rat(--.s may be specified
for' the le i Each i_-,ate must be in an integral 1--lultiple of 5/100 of
1 c1l -1- -I C e p
.I Play cxu -,d 75 . No supplemental or "B" coupons v,,,ill be
1)C I--rii t1- t e d
P a y i n�-�_LEI(--r!t
1_r` * )-'. -, p",1 and in tere,t wJ11. be r.,ade i,-)aa1_-)"j_e at any suitable bank in the
1:"-,/ thc, hi %-.71 tri-i.-ri 1118) hours after
o " (,C,,, 'L;C, 1�'a.11.a r-P r,.,, and the Village, v.,ill
and cu,_"toirflary T-)ca1/-j*_n1, a,,7cnc.y Yir,)_r tf e s, .
u c cf, f't :.-aie . the I L I-1 a g e i u r i a-_I.s,I.-i a n d d c,11 v e r at
t11C, >ff i c C)i'
a_t, h C,-,.-,tJ1.0n wl.11 deposit with a
f, s C, t c,,cl I) L-.t n d I r o v e d by t V i 11 a,
tl.ie purchaser 1) a-, i 1-1. o c
i.inoi,_;7tI:')_f'ied opinion thereon Of
the P J_ I I C,X C-u 1)C,�,-,,I ,, -
-stat,:In- t1hat, no !Jti ,,ation in any
th VEi11.(JI--ity the-n tIireatell,ied or I-c-nd:Lng .
-cry mlusll be- iDa:!.d by the pui�clia,,3c.�r , but,
Ch�-L!'F�C, C)I. thl (I(--I
a -Lcc
rPhc purcha,l."', Pr ll I II J-�,PLICJ. I-) the Vill'a�,"c' . I
iiiu.,, t. i,,T)nn c!(-.I.-I ur y .1 or.' within .,L .)- ,,e d a,y.s after deposit with
i
ae,,ent , in fund,- forexpen(liture by the Village
on the d,,,?y pn-prient' .
Opinion
An let: al On the bond - will be fu:c,nishe(J by 1�1(-,s s r s
l)oi C--'y , E,-ire t Jlull�aday of T,,,I_-Inneapoli.,.i , Minne-
sota UTI C! I ;,aCL or)Irli.on W:,L.I.1 he printed on the bonds at the request
n:[* the TI-Io lei-al o-i-)Anion vi.i.-I-I state th.at the bonds are
e Village
val -Id and oblI�,-1,,-ition-) of the V_JLlIa,-,,;e _, and t)-i
is o))*,_J_E_,IaA,-eel AIM). requ:! --iled to levy taxes, for the principal and. inter(-St
th(_-:con as thr_ ,same become due without limit as to -rate or amount .
Lyl_ J_� B' d - Amount
I
2-al._.A bids, be Or dcliv,,_,roldl to undersigned and must
be receiveo p:r,ior to thu time of said meeti,,-Ig . Each bid must be un-
cond_-It-ionlal 'arld must be accompanied by a cashier ' s, or certified checP,,
or bank drafl-, In the amount, of *505000 payable to the Villaf.,,e Trea-
surer ,, to be rctained by the Village a.-.; 11quidated damages if the bid
and the bidder friils to comply therew.-It'll . The bid auth-
ori. 1-11inir the I_owe,.-_;t net interest cost (total interest from date of
bonds to stal eci maturities , less any ca,21-, premium or plus any amount
le t.h a i 1 2 , 500 ,000 1
_, 500 ,000 IbI.d for principal ) '�i 1 be deemed the most
' 2 1155 , 000 for prin-
f a v c-)1-_ub ie No oral. 'bid and no bid of less than 1, �,
cipal plus accrued interest on all of '-he bonds will be cons-idered ,
and the Vill�-, E e Council reserver the right to reject any and all bids
and to waive any J_nforji-.alit,-,,I in any bid . ,
BY ORDER OF THE VILLAGE COUNCIL
Mrs . Edna Holnigren Village Clerk
Eden Prairie Village Hall
8950 Eden Prairie Road
Eden Prairie ., Minnesota 55343
-h- 1 -1 ,--onstj.tut@ tl-te tC2R3 and condl-tions,
'-�)o boi�d con,-;ull-ant— 'or
r- I h-
t h -1 to cause the t(:73-ins --nd
C,C-,r C -Li, to prospective
Ma ,- m,
7;�
A 1,t t
the motion foy the ad,-)-r:,tl.c)n of the resolution wae
duly cecondcld Nesbitt and uTDo.n vote beinC-,; talen
thereon , the -voted j--) favor the-reof : Lieb , Nesbitt, Osterholt
and Redpath;
and the voted the sanle : None;
whlei:,eQpon oaf-d yeSolStion i%,,as, declared duly passed and adopted , and
was =1yn@8 by the Mayor and attested by tj-je V-1_11age Clerk .