05-17-1962 SpecialVILLAGB OF RICHFIELD
Special Meeting
Maq 17, 1962
The council of the Village of Richf field met ixi special session ,irk
the chambers of the Village Hall, Thursday, May 17, 1962, at 8:00 R.M.
The meeting was called to order by M~gor Olson.
Present: 1~nderson, Jacobsen, Schultz and Olson.
Absent: Shields.
Bond Sale
It being 8:00 P.M. Mayor Olson called for the bid-opening for the
sale of $2,500,000.00 Improvement Bonds for 1962 and read the notice of
hearing,
Bill Lau of J. M. Dain & Co. was present.
Jame: Miller of Ae C. Allyn & Co. was present.
Motion by Schultz, seconded bq Anderson, that the bids be closed.
All ayes - carried.
The following bids were presents
BID NO. t - A. C. ~fllym & Co., Chicago I11. and F. So Smithers & Co,,
NewKork, N.Y., Co-managers; Barcus & Kindred & Co., Chicagot T11.;
B. J. Van Ingen & Co., Inc., New York, N.Y.; Dean Witter & Co., Chicago,
I11.; Herbert J. Sims & Co., Inc., Nevut~Yor~, NsY.; R. D. White & Co.,
New York, N.Y.; Robert R. Wallace & Co., Chicago, I11.; Hutchinson,
Shockey & Co., Chicago, I11.; M, B. Vick & Co., Chicago, Ill.; accom0
panied by a certif ied check in the amount of $50,000.00.
Total Interest Cost from date
of Iss~ze to Maturity, less
Rate premium9 and net interest rate
3.25% 1965/76
3.50% 1977/80
3.60% 1981/84 3.5136%
Plus 2500 bonds for the period 8/1/62 to
2/1/63, Coupon B-1, due 2/1/63, $10.00
BID NO. TM' - J. M. Dain & Co., Inc., Minneapolis; Kalman & Co., Minnea-
polis, Minn; John Nuveen & Coo, Chicago, I11.; Allison Williams Co.,
Minneapolis, Minn; Lamer. National.Bank, St. Paul, Minn.; Juran & Moody,
Inc., St. PauIl, Minn.; Northwestern Natl Bank, Minneapolis, Minn.; Paine,
Webber, Jackson & Curtis, Minneapolis, Minn.; Piper, Jaffray & Hopwood,
Minneapolis, Minn.; Stern Bros. & Co., Kansas City, Mo.; Boettcher & Co.,
Denver, Colo.; E. J. Prescott & Co., Minneapolis, Minn.; Caldwell' Phillips
Co., St. Paul, Minn.; Charmer Newman Securities Co., Chicago, I11.; Mann-
heimer Egam~ Inc., St. Paul, Minn,; Shaughmessy & Co,, Inc,, St. Paul,
Minn,; Harold E. Wood & Co., St. Paul,, Minn.; Woodard-Elwood & Co,,
Minneapolis, Minn.; accompanied by a certified check in the amount of
$50000.00.
-2- May 17, 1962
Bid 2 cont.
Total Interest Cost from date
of Issue to Maturity, less;
Rate premium, and net interest rate
2.90% 1965/69
3.10% 1970/75
3.40% 1976/78
3.50% 1979/1982 3,42346%
3.60% 1983/84
Coupons - $10.00 on each bond payable 2/1/63
Motion by Schultz, 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':
RfiSOLUTION NO. 2726
RESOLUTION AWARDING Sl~LE OF $2,500,000 TMPROVBMBNT BONDS
' OF 1962, FIXING THE FORM AND TERMS OF SUCH BONDS', LEVYING
TAXES FOR THE PAYMENT OP PRINCIPA7G AND INTEREST THBREON,
AND OTHBRWISB PROVIDING FOR THEIR ISSUANCB
dolt of votes: Ayes -Anderson, Jacobsen, Schultz and Olson. Nays - none.
Absent - Shields. Carried, This resolution appears as resolution #2726
in resolution book #18,
Motion by Anderson., seconded by Schultz, that the meeting be adjourned.
All ayes - carried.
~,PPROVED: May 28, 1962
1
B, J, Moli e, cierkmtreas.