HomeMy WebLinkAboutResolution - 726 - Final Feasibility Report - Ring Road - Project STR 72-9-26 - 06/26/1973 RESOLUTION NO. 726
RESOLUTION RECEIVING REPORT AND CALLING
FOR NEARING ON IMPROVEMENT
WHEREAS, a report has been given by the Village Engineer
through Mr. James Murphy, P.E. of Howard Needles Tammen & Bergendorf to the
Village Council on June 26, 1973, recommending the following improvement to
wit:
PROJECT STR 72-9-26, Construction of the Major Center Area
Ring Road, including grading , concrete curb and gutter,
sidewalks , surfacing, lighting, signals, landscaping , turf
establishment, bridges , ramps, underpass, storm sewer
facilities, miscellaneous sanitary sewer and watermain ex-
tensions and appurtenant construction.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF EDEN PRAIRIE:
1 . The Council will consider the aforesaid improvement in
accordance with the report and the assessment of property
f abutting or within said boundaries for all or a portion
of the cost of the improvement pursuant to M.S.A. Sect.
429.011 to 429. 111 , at an estimated total cost of the
improvement as shown.
2. A public hearing shall be held on such proposed improve-
ment on the llth day of July, 1973, at the Eden Prairie
Village Hall at 7:30 o'clock P.M. The Village Council
shall give published notice of such: hearing and improvement
as required by law.
ADOPTED by the Village Council on June 26, 1973.
Paul R. Redpath, yor
ATTEST: SEAL
ldhn D. Frane, Clerk
r:i- -F ' t-1 I',1 0
T T n- T 1 ✓ -"-EI 'T'T \T
$2 , 500 , 000 General Obligation Water and Sewer Bonds
(Series 5)
I S s U e Village of Eden Prairie , Hennepin County, Minnesota
Village Council
Kilnd ., date , tf�e. of- a regular meeting, June 26 ,
1973 , at 7: 30 o ' clock P .M. , at the Village Hall in the Village of
Eden Prairie
T%'e m b e r s present : Mayor Redpath , Councilmen McCulloch and Penzel and
Councilwoman Meyers
Members absent : Councilman Boarger
M in u t e El of s a i d n e e t ink pales ) . 1 through 3
RESOLUTION NO. 725
RESOLUTION AUTHORIZING, SELLING AND ESTABLISHING
THE TERMS OF $2 , 500 , 000 GENE IUL OBLIGATION WATER
AND SEWER BONDS (SERIES 5)
the uncllersi�ned , being the duly qualified and acting re-
cord.-,*L-nz offf- cer of the cub lic corporation I g obligat
ions
CD
referred tc d n the title of thi, s certif'icate', certify that the docu-
ments attac'-ed herel"o, as described above ., have been carefully com-
pared the c2,i;,inal re-cords o' sa--'Ld corporation in my legal
�.D - C-1
c u-1;t 0,i f-cm i-.,hich they have been transcribed ; that sa-id docu-ments
are a cori,ect- and co-Mlete transcript of the rninutes of a meeting
of the bod:i of sa--'-d coroorationl and correct and comolete
copies of all reSolu-..ions and other action-, ta.'ren and of all d0cu-
rnentS a,,)2,-o%, :-d ID, the -overnln;� bc-,,3; at said meeting. , so far as they
relate to said o'1-)l_j*_,-a'- icns ; and that said mec!tln- was duly held by
the --c:vern=,- bcdy at the tirne and i-)11 ;a ce anCi -was attended throe-bout
by the mein::e r--_ i na'-i c at e d a b ov e , pur u an t to call and notice of such
meet-inp, given as required by
1,71T"E= m:; hand officially as such recording officer this
-D
26 d of June 3 1973
Lire
(J,7ohn D . Frane , Village Clerk
(SEAL) 11i7amc- and. Title
3"
The Clerk presented affidavits showing publication in the
official newspaper and in the commercial West of notice of sale
of $2 , 500 , 000 General Obligation Water and Sewer Bonds of the Vil-
lage, bids for which were to be considered at this meeting as pro-
vided by resolution adopted on May 29 , 1973 . The affidavits were
examined and approved and ordered place on file .
The Clerk reported that 3 sealed bids for the purchase
of the bonds had been received at his office at or before the time
stated in the notice. The bids were then opened and publicly read
and found to conform to the notice of sale and to be accompanied
by the required bid security. The purchase price , coupon rates
and net interest cost under the terms of each bid were reported
to the Council to be as follows :
t
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B I D T A B U L A T I O N
$2 ,500 ,000 G. 0. SEINER & WATER BONDS
VILLAGE OF EDEN PRAIRIE , MINNESOTA
SALE : TUESDAY , JUNE 26 , 1973
AWARD : JURAN & MOODY, INC . , ST. PAUL , MINNESOTA
& ASSOCIATES
NET Ir17EREST COST
NAME OF BIDDER RATES YEARS & RATE PRICE
JURAN & MOODY , INC. 4.60% 1976 $1 ,763,862 .50 $2,461 ,750.00
American National Bank & Trust Co. 4 .70% 1977
St. Paul , Minnesota 4 . 75% 1978 5.3248%
Miller & Schroeder Municipals , Inc . 4 .80% 1979
Paine , Webber, Jackson & Curtis 4 .90% 1980
Minneapolis , Minnesota 5 .00% 1981/83
Hornblower & Weeks-Hemphill , Noyes , Inc. 5 . 10% 1984/85
Chicago , Illinois 5 .20% 1986/87
White , Weld & Co. , Inc. 5 .25% 1988/90
Minneapolis , Minnesota 5 .30% 1991/93
Channer Newman Securities Company
Chicago , Illinois
E. J. Prescott & Company
Rot -t S. C. Peterson , Inc.
M-, .neapol i s , Minnesota
BANC NORTHWEST 4 .60% 1976 $1 ,770,518.75 $2,463,750.00
1-1alsey , Stuart & Company , Inc. 4. 700% 1977
Van Kampen , Wauterlek & Brown , Inc. 4 .75% 1978 5.3449;0
Dean Witter & Company 4 .80% 1979
Kidder, Peabody & Co . , Inc. 4 .90% 1980/81
Chicago , Illinois 5 .00% 1982/83
Moore , Juran and Company 5 .10% 1984/85
Minneapolis , Minnesota 5.20% 1986/87
5 .25% 1988/89
5.30% 1990/91
5.40% 1992/93
EHLERS AND ASSOCIATES , INC.
Financial Consultants to the Village
(continueu on rollowing page)
2
Bid Tabulation
Page 2
$2 ,,500 ,000 G. 0. Sewer & !•Dater Bonds
V 4 age of Eden Prairie , Minnesota
I.
Sale : Tuesday , June 26 , 1973
NET INTER ST COST--
NAME OF BIDDER RATES YEARS & RATE PRICE
PIPER, JAFFRAY & HOPWOOD INC. 4.60% 1976 $1 ,771 ,968.75 $2 ,455 ,500.00
Allison-Williams Company 4.70% 1977
Dain , Kalman & Quail , Inc. 4 .75% 1978 5.3493%
First National Bank of Minneapolis 4.80co' 1979
Minneapolis , Minnesota 4.90% '1980
First National Bank of St. Paul 5.00/ 1981/83
St. Paul , Minnesota 5.10% 1984/85
John Nuveen & Co . , Inc. 5.20% 1986/87
Chicago , Illinois 5.25% 1988/89
Robert W. Baird & Company 5.30% 1990/93
Minneapolis , IMi nnesota
Caldwell -Phillips , Inc.
St_ Paul , Minnesota
EHLERS AND ASSOCIATES, INC.
Financial Consultants to the Village
First National-Soo Line Concourse
507 Marquette Avenue
Minneapolis , Minnesota 55402
Telephone : 339-8291
Area Code : 612
2.1
Member Penzel then introduced Resolution No . 7_95 ,
entitled "Resolution Authorizing, Selling and Establishing the
Terms of $2 , 500 , 000 General Obligation Water and Sewer Fonds
(Series 5) " , and moved its adoption. The motion was seconded by
Member Meyers , and upon vote being taken thereon, the
following voted in favor thereof : Redpath , McCulloch, Penzel and Meyers
and the following voted against the same : None
whereupon the resolution was declared duly passed and adopted.
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