05-27-1959[?
VILLAGE OP RICHPIBLD
Ad3ourned Meeting
M~.y 2?, 1959
The council of the Village of Richfield met in ad3ourned session in
the council chambers of the Village Hali~ 6700 Portland Ave„ Wednesday,
May 27, 1959 which meeting had been ad3ourned from Monday, May 25, 1959.
The meeting was caned to order by Mayor Reidsen.
Presents Anderson,. Schultz, Wallick and Reidsen.
Absent: 5erstock.
The purpose of this meeting is to receive bids on $600.,000 Improvement
Bonds as advertised on May 7, 1959.
The fo flowing sealed bids were presenteds
BID N0. 1 -John Nuveen & Co.; American Nat'l Bank; Caldwell-Phillips Co.;
Shaughnessy 8c Co.; Woodard Blwood; Richfield State Bank accompanied by a
cashier's check in the amount of $1200.00.
4.0% per annum for bonds maturing 1960-1971; 4.1% for bonds maturing 1972-79;
plus an extra coupon of 1.2% for the period 7/1/59 to 6/1/60, 20 years, 11
months, Premium $126.00; net interest rate 4.159, total interest cost
$274,554,00.
BID~N„O,_;...Z - J. M. Dain & Co.; Allison-Wii~.iams Co.; Fiper, Jaffrey & Hopwood;
Northwestern Nat'l Bank; H. 8. Wood & Co.; Mannheimer-Egan! Inc. accompanied
by a check in the amount of $1200.00.
3.50% per annum for bonds maturing 1960-1966; 3.80% for bonds maturing 1967-
1969; 4.0% for bonds maturing 1970-19?4; 4.1% per annum for bonds maturing
1975. to 19?9, plus an extra coupon of 1.8% for the period 12/1/S9 to 12/1/1960;
No premium; net interest rate 4.108%; total interest cost $271,140.00
BID N0. 3 -Kalman & Co.; Juran & Moody, Inc.; ~3. J. Prescott & Co.; Paine-
Webber, Jackson & Curtiss; accompanied by a certified check in the amount of
$1200.00.
~w
Adjourned Meeting
..2-
May 27, 1959
3.3% for bonds maturing 1960 to 1964; 3.8% for bonds maturing 1965 to 1967;
4.1% for bonds maturing 1968 to 1973; 4.2% for bonds maturing 1974 to 1979
plus an extra coupon of 1.8% for the period of 8/1/1959 to 12/1/1960; No
premium; net interest rate 4.272; total interest cost $282015.00.
Motion by Schultze seco nded by Anderson, that all bids be re3ected
and that bids be called again at a later date. Carried
Acce ting Bid - Paving of 66th 5t. Vilia~e Project #365
Motion by Waliick, seconded by Anderson that the following resolution
be adopted; that it be spread in the resolution book and that it be made a
part of these minutes:
RESOLUTION N0. 1870
n
RESOLUTION ACCEPTING BID OF MCCRBB & CO.~ NSW YORK
BLDG., ST. PAUL, MINNBSO1TA, POR GRADING, CONCRBTB
SURFACING AND OSIER RHIATBD TMPROVBM8NT5 ~ OOUNTY' STATE
AID HIGHWAY #53, 15T AVE. TO CEDAR AVB. VILL. PROD. 365
Poii of votes: Ayes - Anderson 5chuitz~ t~aliick and Keidsen. Nays -
none. Absent - Serstock. Carried. This reso lution appears as resolution
#1870 in resolution book #13.
Adjournment
.. .-..
Mo~.3on:by Schultz, seconded by U9a11ick~ that the meeting be adjourned.
Carried.
959 ~ ~ ~~.~ '; ~~ d' ~ ,v:~i_!~
Edward J. M ~, e, illage Clerk