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1963-3058r14 SOLUTION Nn. 30 ~_, RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $1D~759000 TEMPORARY Il~lPRO'VEMENT BONS HE TT ~tESOLVED by the 9illage Council a~f the Village of R3.chfie].de Minzaesotae as follows a 1. It is hereby.d~termin~d that. the total estimated cost of Village Project No. x.65, coneiatng oi' water laterals .snd ..agpurtenancs.es thearo ~9 . is in excess of the sum: Hof. $1,575,.~e.. It is further herebyfound.and detsa.ned tc~ be necessary' and expedient to finance8, t,~mgararily, ther..~oaastru~c#.i.on o~':.,s~tch improveanexYt by the issuance aad. sale of _ $1a~~~p4~.Q: T.Qra~' Itl~xC•QV~1~At ~CI~dB of tb,i.~ vil]~e. 2. Th+e . clark..is hereby autharized..and .directed to cause noticse of sale of such bonds to be published at 1ea.st .ten .da~rs. •prier to th®: date of sale 3,n the official..newspaper af. the. village ana.:in Commercial w~~t, a financial periodic published i.n the City of Minneapolis' . Minnesota9 . said nc~t~.ce to be in substantiLy the f©llowlzig forms "NOTICE OF BOND SALE $1~575~000 TEMPORARY Il"Il'ftOVEMENT BONDS VILLAQ~E.QF RICHFIELI)~ HENNEPIN COUNTY9 MINNESOTA Nf3'~ICE TS NMNEBY GIVEN,. that the Village Ceuncil of the Village of Richfield HAnnep3.n. County Minnesota,. will. me®:t in the coui2cil chamb®rs of the village ha`i7. 4f• said village. (6?.00 Portland.. Avenues Minneapolis Minnesota)., on Thursda~r,~ August 159 19639 at 5x00 0~ cloak . F.,M.y Central. Laylight .Saving Times 'fos° the gurgose of rac®iving and considering seal~d_ bids for th~i purchase c•~f $195759o0O general obligation Tsmporary 'I"aprovement Bonds of the village9 sa3.d bonds to b® dated August 18 1963, to'beax interest at the .rate designated by the successful bidder, .payable Febrt~r 19 196.9 and seaniannua1.ly thereafter ®n Febr~ry 1 aa~ August l in ~ach-yeary all of said bonds. to mature on Ata~ust 19 1965. A.~3.1 bands of this issue are. ~thcut m~tioa~ • ca£' prior Pa~~ . B®th principal ~.nd int~sre~it will be payafa:Le at any .suitable bank ~.n the tTr~iti~d Status designated by the. successful. bidder within ~ hours. after award. The vl.~:lage wi.~,l ~furraisha ~aithoat cost tQ the purch.aserg. the printed and exeesuted 'Pacnds in denoxa3.anatioa~s sp~ec~.fied by~ the succee.sful bidder .w3.thia..?~8 .Vicars after awards such dez~eaiainations to be $1,O0Og or multiples .of .$l~.~QO9 and._thetauc~ua7,i.,f°~,ed ap~rovix~ legal ~iemm of Mg~ssrs. FIowards. Petereons. LeF.evere9 Laf1•er =and Ha~>~:~+f Minaol3,s''Minta~esd°ta.9 tog®ther with the oustomar<* ~. ~~ig~.~ a~tif.~cate. Deli~ex°3r tail], be ode aauy~ ta~ere in Mir~xieaga~.s .or St. Pauli Miraxaesota~ Chicago9 T1.13.iaoi~9 Qx^ New York City9 1V®w York'. ta3.thiri .flirty da3rs .sftsr acceptance. o f the bi. de without cost °~ tie ptar~has®ry and=else~aere. at..gurcha.serg's expeias®, The tent o~:.~b.e a~pre~'vi~.g legal • apinien will be. printed. on the back -cif each boxtd,9 and certified by the ~acsim~.e sign~.tura. ca.f.the:.u3.llaga..clerk... Seal®d b3.ds mask®d ~QBid for ~1g~75,~~0 Te~por-' Impra~vemez~t Bonds" maybe. mailed .~ otherwise delivered to tte and®rsigned but .must. be redeived -by .hian pri©r...to the. time of said meeting. Each bid Mast ba uncanditiomal. except .as to bands being issued and delivered t~.th said opiaa~,on aa~d no liti,gatic+n certificate in ccl~ormity with thin ni;~ice9 ands. cash bid mast be accompanied by. a certified or cashirer° s chek payable to' the order of "Villaa,~e of 1 C 1 ktiohfield' Minnesotan ~.xi the amount of ~3195cm~ to be forfeited as liquidated damma@;es ire cases th® bid is accepted and the bidder fa~.ls to comply thereth. Each bid shall specify only one interest rate eaapressed s.s a mu.7.tiple ~f orZe-quarter (1/fit} or on~mten~h, (1,~, ~ of or~mpereent (l~) per a~antwa, Ada 13,t~ x°ate bida ~tl.ll be accepted axed bids shall. not gr°ovic~ for s~xpplemental ogee coupons. The bid offering the lowest net interest cosh (total ~.nteres`t from date of issuance .to date. of~ maturity9. 3.ess ariar premium offeree~) will be dse~d the- mast favorable. No bid .for .less- than par plx~ .aeorued inter®st from the date of is~a~e to date of bond. deli~.r,~ w~.ll.be..o,Qnsidered .aid. az°a1: suea~~.on bids w3;l.l not be received. The right. to. raa,ixre_.aa~ informality ia~ anlr b.id sand, the right to xDe~ect anlr and a17. bids ar® reservad.~ 3. each and a1.1 of. the.., terms and..pr..o~.~ions of the fo~°®going form of notice are adopted as the terms acid conditions _far said. bands and ~ the sale thereof. ~.. This Council shall meet at the time Arid place ~pe~3.fi®d in st~h notice of sale for the purphse. of reessi~ring.and..cosidering. bids f~c° the purchase of said bonds ~,s therein provided. Pass®d.by the 9illage Council of the Qillage of Richfield this 22nd dalr of Ju1J' 1963. , ATT~STd . Molixi _ lark w• ~+ t - e~; :: o ~o ~, , Zc~ .