1963-3057r13
RESOLt~TIQN Noo 3057
RESGLUTIQN AUTHORTZIlVG ISSUANCE AND SALE OF $19790®0 GENgAAL
OBLIGATION WATER $OI0D5 OF 1963
BE IT RESOLVED9 by the Vdllage Council. of the V3.1].age of Richfield Minnesata9
as follows s
1, Tt 3s hereby dated ta~be n®~essaxy ansS edi~nt. to the pnblio he~..tYa9
sa.fety9 can~'en3.e~iCe9. p~®~sperit~ and. general._.~e].fare._to .issu,a $187009®00 Ws.+~x° Borjds
of 1963 of this villages Such. bonds sha11~"e general obldgat3.ara bore ~f the Village9
heretofore atitGhorized for is sraaance by the oters of this vtllagee and ~snch bonds
shall also be repayabSe from the net proceeds fa°am th® ciperation of the wat®r utility
of this ~+i.llag-et 3.n the manner to be specified by..subsequsnt r®eolnt~,o~ of th3e Cou~31.
C, This Council. shall m®et at the time and pl~,c® and fox° the pur°pos® specified
in the. form of notice of bond .sale hereinafter set forth9. and far the purpose of t
such further a~ct3.an in reapee~t to the bonds therein ~ described _as shall be d®emed de~
s3x^able and expedient..
3. The village-..clerk is authorized and. directed_.tsi _give...ne~t3.~e of the ~~9 plao®
and purpose of said.- meeting9 .bnb .caus3,ng. notice tlr~eof _ta .be pu]ali~k~ed in the Richfield
News- and. .in .C,cm~aerrial..West9 a fi~.ncial per3.odice,7. pnbl.isk~®d at Minne~aol,is~ M3nneota9
each of..such publications to be made at least ten days prior t+o the date of said
meeting9. which. nat9:ce. shall. reed.-subat~nt~.a,lly ae foll.awsg
r..
~~QTZC~ OF ~3ND sALE
$1,92008000 WATER Bt?NC.S C?F 1963- _ - - .
VILLAGE OF RICHFIELDa ~SOTA
NOTICE SS HEREBY GIVENe. that. the .Village.C.QUncil,.of..tha Village of Richfield9
P?innesota9 will meet .in the council. chambers. in the:.. vtllaga_.h~.l.. -said village (670
Portland ~.venue9. Mirlneapolis9-.Min~seata) an Thur~d~y9..A~,gu~t.l59.-~:~63 at 5s00 .ooclock
PoMos Central.Daylight. Sa~3ng..7'inle9.._tA. receive sealed_1a3,.~1~,,f®I° the purchase of
$197009000 WAter Bonds of 1963 Such bands sha17:_be_g~...~.ligatidn xaegotiable
coupon bonds dated August is 19639. bearln~ .interest_ _at. _the...rat~: ~°.,rates designated by
the successful. bidder.9 in. integral multiples. o~f..ox~e~gnarter. (l~4) - ~~° one tenth. (1,.®)
of one percent (1~) per annum.. paya~ble...on Febru~°y.:19. 196l~ .and....aeaq~,~sanial].y t~e~ea~°t~+~
on. Febru.~y .1 and August l of -each ~reax°; -and will. be.. in the,. de~~$tian of ~`~~,
®ach un],ess the. purchs,ser9 va3.thin .~~ hours after the award9 .,specifies the deli®m3.rat3,on
®~° $59000 eafl.°ha
. - The bands shall_matux°.e..seria.7.ly on August 1 in the. ~ex°s and amouazts as foSls~reo
$5Qe00fl 'in each of .the tears 1966 through 1,9699. inclu~i~ee $759~~ in each of e
tears 197th through 19739 inclut~.i~'e~ ~,nd $lOOa in each of the -gears 192~a through
19$59 inclusive9 al,]. bonds matur3.ng after August 19_.1979 being snb3eat to redemption
inv9rse numerical order on . sai.d..da~e .and ' int.er®-st p~yanent date they®after at
per and - a:ccrned . interest.o . Beith . pry nal .aad..3,ntereet_ wall 1a e. pay~abl® at aa~ suitable
bank. d®s3.gnated by the purchaser w~.thin ..~$_ honrs..afts~ ~d.a. _. The' ,~,].la.ge will f°nx,sh
to the purchaser withoait. cost. aaa~d within.-fog°ty day~_af'ter:.~~id. ~~ sale the pr3:rztcd
bonds with the apprav3.ng- 1.egsl-... ~r~ oaf Massrso. ~lt~s~.de. ]~ste~rxa Lsla'av®re$ Lsf~r9
and Hamilton9 Minneap®lise Minnesota, together ;th the custoanar~ ds~,3,~ary pap®x°s
inelu~ding a certificate shcrr~.ng..the. ~b~.eno.e of ~~,'~~,ane Thy teaet of the ~.~ga1
apinion will be.. printed .an the back._of._each bc-nc1._.and..c~tified by the facsi~ail®
sigasatur® of the v3.11age clerk. Prov3.sion for registration. as to principal only
wi11 be made9 if the purchaser so requests within !~8 he~u~°s after sward.
All bids must be in writinge en~clased in a sealed envelopes be ~conditi~anal,
eaccept as to the above op3.n3.one and be .left with the ui~.dersigned prior to the sbove
tim®9 accompan3®d by a certified ch~k$ bank draft or essh3.®re s check in the amo~.t
of at least $34,cu~- payable to the order of the. villages to b® forfeited as ],iqu3.~
dated damages in the event thebid is ~ aocepted and the bidder fails to c~galy th®rem
with. Split rate bids 'may be submitted statix~ tl~e ~~~a rat® or gates of interest
from date of ..issue to maturity for a],~, bonds have, ~ ~c~oa maturitye but rates sha1,1
n®t be split more than si.~c ways. Repeating any b~ic rete w3.1~. ecnstitute anotkaer
~e,~pl3t rats. The. basic rate borne by air matu~°ity mt~~ not be l~,rer then the basic
rate borne. by preceding maturity. Bidders may provide thst game or all of the
bond sha11 bear interest as at acl~lit3,ona1.. rate for any period ~ Qf theii° terms rapt®~
s®nted.by supplemerxt.al._ l~B?~ caupons8. bt~t .sucYi ..snpp].c~m®nt~7. ooupva~s shall not exceed
$~,796att0 in ardo.~t.- bTo ret~_or corabi.n:ati~ri of rates app].icab~,e to arm bond fnr any
portion of .its term. inay_ exceed 6~ per annum. Bidders are requested to s~.te total
interest. cost and..average...iuterest .rat®, Deliveiry of t,~ae bonds x.11 be made without
expense_to the purchaser in Minneapo~3,s .or. St. Pauli F+d~.nnesot~,~ GYaica~o9 ~,linois9
or 14ew ~'ox°k Citye New .York, ... .
Compariean.of bide wi11 b® made on the basis of total interest costs ~~m dat®
of ~.sst~axica.ta..final.maturity dates less any-premium off®redo ~o bid for less Haan
par plus accrued interest from..the .date. of issuance to date of bond delivery wild,
be cox~sidered9..a -.oral bids w,1..11 not b® recei~red. The village reserves the right
tg ~ra,~.ue:. ax~y infcu~nality 3.n any bid9 to re3e~at ax~ii3r and a'll bides and t® ad3ourn the
sale.
?~. Each and a1.1. terms and provisions of the fdrege~ag notice are hereby ~.d+apt ed
and .confirme.d. as the t exams and conditions for said bos~is axxd foY^ the sale thereof.
~. It is hereby. determin®d that for the period from the detc of iss~a~ce untt~l,1
collection of the first tape levy made to repay sash bor~s~ the interest on such bond
issue. ~hal1 be capitalised.
Pass®d by the village council of the V~,lage of Ri~field this 22nd day of
Jta1.y 1963.
l1TTEST
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