11-08-1961 Canvass VILLAGE OP RICI~IELD
Special Meeting ~.
Board of Canvass,
November 8, 1961
and
After due call and notice the council met in special session/as a Board of Canvass
on Wednesday, November 8, 1961 in the Village Hall, 6?00 Portland Ave, at 7:30
P.M.
Present: Keldsen, Anderson, Schultz and Shields
Absent: ~Serstock
CANVASS of Results of General Biection
The clerk presented the tabulation of returns and the official returns of said
election;
FOR MAYOR: Charles J, Little 2416
Stan Olson 3798
CWrite-in) Irving Re Reldsen 816
" Dobek 1
" H, Stevens Jr. 1
" Frank Subak 1
" Chas. Wallick 1
FOR COUNCILMAN: E. E0 Jacobsen 4331
Tom Reese 2695
Jerome Chapman 1
I. R. Reldsen 1
TD7AL-VOTES CAST........7159
After due consideration of said returns it was moved by Anderson, seconded by
Schultz, 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 NO. 2623
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RESOLUTION DETERMIIJING RESULTS OF VILLAGE ELECTION
Poll of votes: Ayes - Anderson, Schultz, Shields and Reldsen. Nays - none.
Absent-Serstock@Carried. This resolution appeaxs as resolution #2b23 in resolu-.
tion book #17.
BOND SALB
It being ?:30 P,M® Mayor Reldsen called for the bid-opening for the sale
of $1,155,000 improvement bottds and $120,000 general obligation bonds:.
The f oliowing bids were presented:
BID N0. 1 •• Kalman & Co., Inc., Minneapolis; Juran & Moody, Inc,, St. Paul;
Paine, Webber, Jackson & Cur_~is, Chicago, IlF; Stern Brothers & Co. Kansas City,
Mo.; Boettcher and Company; Denver, Colo,; Channer Newman Securities Co®, Chicago,
I11; Bo J, Prescott & Co., Minneapolis; Richfield Bank & Trust Company, Richfield;
accompanied by a certified check in the amount of $25,000.
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Special Meeting
®~
November 8, 1961
Rate Premium Total Interest Cost from date
of Issue to Maturity, less premium,
and Net Interest Rate
., 1964/196? - 2,509b
1968/72 - 3,OOx
19?3/1976 - 3,4096 $525,228.13
1977/1980 - 3®70°Xo 3,56237%
1981/1983 - 3,75°b
J, Miller and A. M, Whittemore represented the above company, David Burton,
Richfield State Bank also present.
BID NO, 2 - J, M. Dain & Co., Min~apolis; John Nuveen, Chicago, I11; Allison-
Williams, Minneapolis,; American National Bank, St. Paul; Northwestern National
Bank, Minneapolis, Piper, Jaffrey & Hopwood, Minneapolis; Caldwell Phillips Co „
St, Paui; Mannheimer-Bgan, Inc,, St. Paul; Shaughnessy & Company, Inc,, St. Pau1;H.C.Wood,
Woodard-Elwood., Minneapolis; accompanied by a certified check in the amount of St.Paul;
$25,000,
1964/1968 - 2,7096
1969/1972 - 3.96 $526,610.00
1973/1974 - 3.30°.6 •3,5?~
1975/1977 - 3,60°
1978/1983 - 3,?0%
Wm, Lau represented the above company,
BID NO, 3 •• A, C, ~Fllpn and Company, Iac,, Chicago; Barcus~.indred., & Co®, Inc.
Chicago; B, J, van Ingen ~ Co., Inc,, News York; Dean 'Witter & Co., San Francisco,
Calif; M. B. Dick 8'c Co,, Chicago, I11; accompanied try a certified check in the
amount of $25,000.
1964/1972 0 3,0~
1973/1974 - 3.4096 - $542,312.25
1975/7? - 3, 60'k' 3, 67896
1978/1.981 - 3,80
1982/1983 - 3,9096
R. Marquart represented. the above company,
BID 1~, 4 - F, S, Smithers & Co„ New York; Julien Collins ~ Coo, Chicago;
Herbert J, Siffi & Co. Inc., New York; R, D. White & Company, New York; Robert
R, Wallace 8~ Co., Chicago; Hutchinson, 3hockey & Co,, Chicago; accompanied by
a certified check in the am~nnt of $25,000,
1964/196? - 3, 09e
1968/1976 - 3,50
1977/1983 - 3,?096
$545,798,25
3, 76°b
Motion by Schnitz, seconded b9 Shields, that the low net bid of 3®56237°b of
Ka1mPn R- rte., Inc,, Minneapolis syndicate be accepted, and that the following
resolution be adopted; that it be spread in the resolution tmok and that it be
made a peat of these mimite~:
Special Meeting -3- November 8, 1961
RESOLUTION NO. 2624
RESOLUTION AWARDING S1~CLB OF $1,155,000 IMPROVEMHNIT BONDS OF 1x61
A11® $10,000 GENERAL OBLIGATI®N WATER BONDS, FIXING THE FORM AND .
TERMS OF -SUCH BO1~S, LBVYING TAXES FOR THE 1fAYMENT OP PRINCIPAL
AND INTtERBST THffitEON, AND OTHERWISE PROVYDING FOR TH':IR ISSUANCE
Poll of votes: Ayes - Andernon, Schultz, Shields and Keldsen. Nays - none.
Absent - Serstock. Caxried. This resolution appears as resolu tion #2624 in
resolution book #17.
William Lau, representing J. M. Dain St Co., informed the council that in
the past 10 to 15 pears that his and other companies have been bidding on
various village issues, they have seen a community become matuted, and now
find one who has what they consider good management and fiscal operation, He
also volunteered that this information was not intended to be flattering.
Adjournment
b4otion by Shields, seconded by Anderson, that the meeting be adjourned,
Aii ayes -carried,
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APPROVED: November 13, 1961
Irving R. ~eids n, Magor
n. . an Rreve en, Manager
Edw. J. Mol' e, Clerk-Treas.
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