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83-6841Rbb RESOLUTION N0. 6841 RESOLUTION APPROVING PLAi`1S A1D SPECIFI- CATIONS AND ORDERING ADVERTISEMENT FOR BIDS FOR CP 7055 - RICHFIELD LAKE PROJECT WHEREAS, tn.e city staff has prepared plans and specifications for the improvement of Richfield Lake and has presented the plans and specifications of the patrway system to the city council for approval. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield, Minnesota, as fellows: 1. Such plans and specifications are hereby approved. 2. The City Clerk shall prepare and cause to be inserted in the Richf field Sun , official newspaper of Richfield , and the Construction Bulletin, an advertisement for bids upon the making of such improvement under such approved plans and specifications. The advertisement shall be published November 18, 1983 in the Construction Bulletin and November 23, 1983 in the Richfield Sun, an d shall specify the work to be done, shall state that bids- will be received by the City Clerk until 11:00 a.m. or. December 14, 1983 at which time they will be publicly opened in the Council Chambers of the City Hall by the City Clerk, will then be tabulated, will be considered by the City Council at the first possible Council meet- ing to be held following the bid opening, and that no bids will be considered unless sealed and filed with the City Clerk and accompanied by a bid security pay- able.to the City of Richfield for five percent of the amount of such bid. Passed by the City Council of the City of Richfield this 14th day of November, 1983. ATTEST: y " a K. erg City er:c _ _ _. EXTRACT OF MINUTES OF MEETING OF TH£~ CITY COUNCIL OF TH8 CITY OF' RICHFIELD - - COUNTY OF HENHEPIN, MINNE5OTA - - Pursuant to due call and notice thereof, a special meeting of the City Council of the City of Richfield, Minnesota, was duly held is the City Hall is the City of Richfield, on Tuesday, November 15, 1983, commencing at 12:00 o'clock noon; C.T. - The following members of, the Council were present: Bence, Samlton, Hassenstab, Kirsch and the fallowing were absent: Ludeman, Priebe The Mayor announced that the meeting was convened for-the consider- ation of the bids which had been received for the purchase of the City's $825,000 General Obligation Improvement Bonds of 1983, as advertised for sale. The City Clerk presented affidavits showing publication of notice of sale in the City's official newspaper and in Commercial West, a financial paper published in Mianeapolis;~Minaesota,-which affidavits were examined, found-satisfactory and ordered placed on file. The Citq Clerk presented a tabulation of the bids which had been re- ceived in the manger specified in the notice of sale of the Bonds. The bids were~as follows: After due coasderat~:on .of the' bids,- Couacilmember Hassenstab ~•~ , introduced the following re~olutioa aad:moved its adoption: c~ (I he st ac pl fe ~r~.~ Q= Maturity Rate '. rear of Interest Maturity Rate Lichfield, (~r® ~s of 2983 thereof is eived pur® is hereby X10 x`150 stares t as 1985 6.00 I 1994 8.30 1986 6.40 I 1995 8.50 1987 6.70 ', 1996 8.70 -- ------ 1988 7.0 0 I 1997 $ . 90 1989 7.30 ' 1998 9.00 199© 7.50 I 1999 9.1D 1991 7 < 70 2000 9.20 1992 7.90 I 2001 9.2 5 I993 -8.10 ' ~ 2002 9.25 2003 9.25 2004 9.25 -- - The City Clerk is directed to re-fain the goad faith check of the Purchaser oa behalf of the City -peajdiag completion of the sale and delivery of the Bonds, aad to return the checks of the uasuceessful bidders forthwith. The sum of $ 150.00 beiag~~,the amount offered by the Purchaser in excess of $810,000 shall be credited to the Debt Service Fund created by Section 6. 1.02. The City shall forthwith issue and sell the Bands in the total principal amount of $825,400, originally dated as of December 1, 19.83, the