04-21-1982 SpecialCITY OF RICHFIELD
SPECIAL CITY COUNCIL MEETING
April 21, 1982
The city council of the City of Richfield met in special session on April Zl,
1982, at 5:00 p.m.
Present: Hassenstab, Kirsch, Hamilton
Absent: Bunce, Ludeman
The meeting was called to order at 5:10 p.m.
Administrative Services Director Joyce Wilde described the bids received for
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$4.1 million redevelopment bonds and the $515,000 special assessment bonds. She
indicated that the low bid for redevelopment bonds was submitted by a syndicate
headed by First National Bank of Chicago, at a net interest rate of 11.041269%.
The only bid for the special assessment bonds was submitted by a syndicate headed
by Dain Bosworth, Inc. at a net interest rate of 10.4603%.
Wayne Burggraaff, Evensen-Dodge, Inc., described the bond market conditions
that may have affected the bids received.'
Motion by Hassenstab, seconded by Kirsch 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. 6598
RESOLUTION AWARDING THE SALE OF $4,100,000
GENERAL OBLIGATION REDEVELOPMENT BONDS OF 1982,
FIXING THEIR FORM AND SPECIFICATIONS;
DIRECTING THEIR EXECUTION AND DELIVERY;
AND PROVIDING FOR THEIR PAYMENT
Po11 of votes: Ayes - Hassenstab, Kirsch, Hamilton. Nays - None. Absent - Bunce,
Ludeman. Carried. 'T'his resolution appears as Resolution No. 6598 in Resolution
Book No. 48.
Motion by Hassenstab, seconded by Kirsch that the following resolution be
adopted; that it be spread in the resolution book and that it be made a part of
these minutes:
Special City Council Meeting -2- April 21, 1982
RESOLUTION N0. 6597
RESOLUTION AWARDING THE SALE OF $515,000
GENERAL OBLIGATION IMPROVEMENT BONDS OF 1982;
FIXING THEIR FORM AND SPECIFICATIONS;
DIRECTING THEIR EXECUTION AND DELIVERY;
AND PROVIDING FOR THEIR PAYMENT
Poll of votesa Ayes - Hassenstab, Kirsch, Hamilton. Nays - None. Absent - Bunce,
Ludeman. Carried. This resolution appears as Resolution No. 6597 in Resolution
Book No. 48.
Motion by Hassenstab, seconded by Kirsch that the meeting.adj~n.
All ayes - Carried. Timee 5:23 p.m.
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Date Approveda May 10, 1982
yce L. Wilde Acting City Clerk
Mayor
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Karl Nollenberger City Manager