11-15-1983MINUTES OF THE NOVEMBER 15, 1983
MEETING OF THE CITY COUNCIL OF
THE CITY OF RICHFIELD, HENNEPIN
COUNTY, MINNESOTA
Pursuant to due call and notice thereof, a special meeting of the
city council of the City of Richfield, Minnesota, was duly held on
November 15, 1983, commencing at 12:00 o'clock noon.
Upon roll call the following members were present: Bunce, Hassenstab,
Kirsch, Hamilton.
The following members were absent: Ludeman, Priebe.
Mayor Hamilton announced that the time had arrived for the consideration
of bids on $825,000 General Obligation Improvement Bonds of 1983. The acting
clerk thereupon presented the attached bids.
Wayne Burggraaff, representative of Evensen-Dodge, Inc., city bond
consultants, reported on the four bids received and responded to questions
from council members..
Motion by Hassenstab, second 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. 6842
RESOLUTION AWARDING THE SALE OF $825,000
GENERAL OBLIGATION IMPROVEMENT BONDS OF 1983;
FIXING THEIR FORM AND SPECIFICATIONS;
DIRECTING THEIR F~ECUTION AND DELIVERY;
AND PROVIDING FOR THEIR DELIVERY
Poll of votes: Ayes - Bunce, Hamilton, Hassenstab, Kirsch. Nays - None.
Absent - Ludeman, Priebe. Carried. This resolution appears as Resolution
No. 6842 in Resolution Book No. 50.
0
Special Meeting Minutes -2- November 15, 1983
Motion by Hassenstab, second by Bunce that the meeting adjourn.
All ayes - Carried. Absent - T,udeman, P~-;°~°
Date Approvede November 29, 1983
Ronald-Rankin Acting City Clerk
~~J
^^ EVENSEN-DODGE, tNC.
^^
RESULTS OF SALE
$825,000 F NANCIAL CO
G.~. Improvement NSULTANTS
Bonds of 1983
City of Richfield, Minnesota
SALE DATE: Tuesdaq, November 15, 1983 Moodp's - AA BBI - 9 75
BIDDERS ADDRESS YEAR RATE YIELD
• MERRILL LYNCH CAPITAL MARKETS Minneapolis 1985 6.00 PAR PRICE
DAIN BOSWORTH, INC. Minneapolis 1986 6..40 T
Cronin & Marcotte, Inc. Minneapolis 1987 6.70 $810,150.00
Dougherty Dawkins Strand & Yost Minneapolis 1988 7.00
1989 7.30 NIC
1990 7.50
1991 7.70 $727,991.51
• ~ 1992 7.90
1993 8.10 NIR
1994 8.30
1995 8.50 8.7577%
1996 8.70
1997 8.90
1998 9.00
• 1999 9.10
2000 9.20
2001 9.25
2002 9.25
2003 9.25
2004- 9.25
FIRST BANK MINNEAPOLIS Minneapolis 1985 6.00 PRICE
Craig Halium Minneapolis 1986 6.40
Richfield Bank & Trust Co. Minneapolis 1987 6.70 $811,800.00
° 1988 7.00
. 1989 7.25 NIC
'1990 7.50
1991 7.75 $730,154.17
• _ 1992 8.00
1993 8.10 NIR
1994 8.30
1995 8.50 8.7838%
1996 8.70
1997 8.90
1998 9.00
. 1999 9.10
2000 9.20
2001 9.30
2002 9.40
2003 9.50
2004 9.50
3608 IDS Tower, Minneapolis, Minnesota 55402 612/338-3535 800/328-8200 800/3-81U0 Minnesota
_s
BIDDERS
PIPER JAFFRAY & HOPWOOD, INC.
Allison Williams
ADDRESS
Miauieapolis
Minneapolis
YEAR RATE YIELD
1985 6.00
1986 6.50
1987 7.00
1988 7.20
1989 7.40
1990 7.60
1991 7.80
1992 8.00
1993 8.20
1994 8.40
1995 8.b0
1996 8.80
1997 9.00
1998 9.10
1999 9.20
2000 9.30
-2001 9.40
2002 9.40
2003 9.50
2004 9.50
P
$810,150.00
NIC
$738,716.67
NiR
8.8868X
NORWEST SECi1RITIES Minneapolis
Moore, Juran & Co., Inc, Minneapolis
M. H. Nogiete & Co., Inc. Minneapolis
1985 6.00 PRICE
1986 6.50
1987 7.00 - $8i0,I50.00
1988 7.20
1989 7.40 ~ NIC
1990 7.60
1991 7.80 $740,658.33
1992 8.00
1993 8.20 NIR
1994 8.40
1995 8.60 8.9I01~
1996 8.80
1997 9.00
1998 9.10
1999 9.20.
2000 9.30
2001 9.40
2002 9.50
2003 9.60
2004 9.70