05-29-1974MINU`~S OF THE MAY 29, 1974
MEETING OP THE CITY COUNCIL
OF THE CITY OF RICHFIELD
HENNEP3N COUNTY, MINNESOTA
Pursuant to due ca11 and notice thereof, a special meeting of the City Council
of the City of Richfield, Minnesota, was duly held on May 29, 1974, commencing at
12:00 o°clock Noon.
Upon roll ca11 the following members were present: Law, Anderson and Jacobsen.
The following members were absent: Kenealey and.Luettinger.
The mayor announced that the time had arrived for the consideration of bids on
$3,300,000 General Obligation Improvement Bonds of 1974. The clerk thereupon pre-
seated the following bids:
BIDDERS
ANCNORTHWEST e Minneapolis
Carleton D. Beh Co., - Des Moines
Merrill Lynch, Pierce, Penner & Smith Inc., N.Y.
First National Bank & Trust Co. - Oklahoma City
Paine, Webber, Jackson & Curtis - Chicago
Juran & Moody, Inc. - Saint Paul
National City Bank - Minneapolis
E. J. Prescott & Co. - Minneapolis
7~AIN, KALMAN & QUAIL, INC. - Minneapolis
Allison-Williams Company - Minneapolis
American National Bank & Trust Co. -Saint Paul
First National Bank, Minneapolis
First National Bank - Saint Paul
Moore, Juran & Co. - Minneapolis
Piper, Jaffray & Hopwood, Inc, o Minneapolis
Jaldwell-Phillips, Inc. - Saint Paul
Richfield Bank & Trust Co. - Richfield
T.p~ NORTHERN TRUST COMPANY' - Chicago
ite, Weld & Co. - New York
an Kampen Wauterlek & Brvwn, Inc. - Chicago
tern Brothers & Co.~~ Kansas City
Becker & Cownie, Inc. - Des Dines
Robert S° C. Peterson, Inc, - Minneapolis
PRICE and TOTAL
INTEREST COS T
RATE and NET RATE
1977/1981 - 5.00%
1982 - 5.10
1983/1984 - 5.25
1985 a 5.30
1986 - 5.40
1987 - 5.50
1988 - 5.60
1989 - 5.75
1990/1991 - 5.90
1992/1996 - 6.00
$3,251,421.50
5.780331%
$2,267,334.75 NIC
1977/1980 - 5.00%
1981/1983 - 5.20
1984 - 5.30
1985 5.40
1986 - 5.50
1987 - 5.60
1988 - 5.70
1989 - 5.80
1990 - 5.90
1991/1966 - 6.00
1977/1980 m 5.25%
1981/1985 - 5.50
1986 - 5.60
1987 - 5.70
1988 - 5.80
1989 - 5.90
1990/1996 - 6.00
$3,250,005.00
5.82473%
$2,284,751.25 NTC
$3,250,286.00
5.91631%
$2,320,676.50 NIC
i
0 2 m
May 29, 1974
T1~ereupon it was moved by Anderson9 seconded by Jacobsen, that the report of
such bids be received and approved and that the following resolution be adopted:
RESOLUTION No. 5198
RESOLUTION AWARDING SALE AND FIXING THE FORM AND
SPECIFICATIONS FOR $3,3009000 GENERAL OBLIGATION
IMPROVEMENT BONDS OF 1974, DIRECTING THEIR EXECUm
TION AND DELIVERY AND PROVIDING FOR THEIR PAYMENT
Upon roll call the followi~.g members voted in favor of the adoption of said
resolutiono Law, Anderson and Jacobsen. No members of the council voted against
the same, whereupon the moti®n was declared carried and the resolution was
adopted,
Adjournment,
Motion by Anderson, seconded by Jacobsen, that the meeting be adjourned.
r--.
A11 ayes m Carried. Timed 12020 P. M.
Date Approvede June 10, 1974
ore L. Law Mayor
Thomas J. M an City Clerk
W, S, Burggraaff Manager