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HomeMy WebLinkAbout09-04-1963 Council Minutes Special Meeting■ ::TpT??T�S ��F A u�'��CI�I, 1�I��;TING t�' _;:.. a �; ���OU�;CII,, VILT�_��� OF ORONO • ,1��T��r,IB-�,� 4 , Zg63 ;�%eci�:l ��.ceting of t��ie Vil�a�e �ouncil of the V�ll�.ge of �..�� , Teiinnesot�. �v�.s held at the ill��,�� i?:�11 in Uaid il1a;� on ��ednesd��.;.T, �cpter;lber 4 , 1963 at 6-:�00 0' clock P.I�I. ,�xrith the follo�v- �n�; m�mb�rs prese�it :T�:��;��or H.�.�oss ,Trustees l�.i��i.r'r�:�r_zel, R.L. Searles wnd C.R. �uudy, <�,na th� follo�ving m�r:ik�ers ��.bsent : ��, C. �agley. `j'he Clerx th�n pre�ented an �,ffidavit of public _;.tion of not- ice of bond s��.le in t�?e Co:�1:�erci��.l tif�st, publis��eu at I��iinn�apolis � �..����:���ota. a�.id affid��.vit �vas ex�.mined, �approv�d �,nd or��ered filed. iiie Tti�Iayor then announced th�,:.t the rneeting w.;.s o1�en for the � >>..r -o.,e of receiving ��,rd con:��ic�ering sealed l�ias for the purcha,�e + �f a750,000 "'�r�er Improvement Bonds of 1963 of the Villa�;e , �.nd �ti,�e Clerk �,nnourlced tllat ile had received fiv� (5 ) bids ior s<�id '>c,<::A;, , tivrlicn upon b�ing o�ened vrere found to b� �s follov✓s : M rox �or1�s :,�_�s��xrz1G ;_-:�: : '�i� BID��JIZ �i:�i::� Iil 1?���; Y ;.''.RS I'�.�IC:� �..�i;,"Ua KITZ�R�:D c°c C�:. 2.BO�o 1965 tnrou�h 1973 �a150,0:�0.00 �l�ic�.;o , Illinois 3.00;o 1964 t}iroubli 1977 3.20jo 1�78 throu�,h 1979 ��et ���,te : � plus addition�.l interest at th� rate of 1. 50;o per arinum 3.1054�� or all bonds from :�ec�r�ber 16. 1.963 to October 1, 19�4. � lriti�`i �:��'�ilUi�i.�l; ���rJi� 2. 90;0 1065 throu�;h 1974 �750 ,OU0.00 OF I�'_IlTI1.�AI OI,I S 3 ,10;� 1975 through 1g77 1'irst i:a.ti_on�.l Bank 3.20;� 1978 tl�rough 1979 net l���t� : of :�t. Paul plus :�,ddition:�l interest at TvIerrill I,yncn,Pierce, trie rate of 1.80��� per �,nnum 3.10g34� i enner w �mith on all �;onds from Voveli�ber Fr�,ncis I . du Pont 16 ,1963 to Ynril l,1g64. and C or�p�,ny �'loodard-El��ood �� Co. I��iinneapolis,Tvlinne.,ot�� � .�ZLI�O�'- ,-ILLI�TvTS C0. 2.60 0 1965 ttirough 1g69 �750,000.00 - J .T�7.Cain 8c Company 2 . 90� 1970 through 1973 Piper,Jaffray �.nd 3.lOf 1974 throu�h 1g79 Net �{ate : � Hopwood plus additional interest at Northwestern National the rate of 1.80, �er annum 3.1506� �ank,r.Iinneapolis ,I'e�inn.On all bonds from ecemb�r ahearson Hammill & Co. l,1g63 to October l,1g64. Chicago, Illinois COI�,�TINi:NTAZ ILI,INOIu 3.25;� , 1965 through 1966 �c750,154.95 N:�TIOTJAT., B�NK & TRUST �3.10� 1g67 through 1975 Co. OF CF�I�AGO 3.25io 1976 through 1979 Net Rate : Cwrleton D.Beh Co. 3.17316/ �7es I.Zoines , Iowa ---- Page 1 ---- • � ---Pa�� 2 --- SP�C:IAI� FVZL�TIiVG,ORUPZO VILLriGi� COUNCIL� ���i'T.�;iYiB:�it 4 ,lyb3 • �OR BONDS Tv7:�TU��ING • Nh��L OF BIDDER �kTL IN TH�, Y���RS YRTC� Kt�I,IVIAN & C0. ,INC. 2.g0� 1965 through 1g72 $750,000.OU Paine,`rJeber,Ja,ckson 3.10�1 1973 through 1975 8c Curtis 3.25;0 1976 through 1979 Net Rate : L.J.Prescott & Co. plus additional interest at NIinneapolis , Minn. tYi� rate of 2.00io per annum 3.2162� Juran �c h�oody, Inc . on all bonds ftom October 6, �t. Paul, I�Iinncsota 1963 to April l,1g64 Nlember Searles then introduced thE following ordinance �r.d_ re��d it, and tYiere upon moved its adop-tion: • ORDIN�NC� �� 56 , r1N OKJIi�AtdC�i� r;�iTi'�BLISI�ING THi; II:�r�OVr:;'iviLTuT :t�Uiv� 1��;i7:;:�P�1t'TIUi�1 FUP1� OF TH� VII,L��GL OF ORONO ��IT� TH� CUNDITIONS t�ND Pi�O— � CLDU�i, FOR THL IS;�UI�VC� ,'�PIv COVLPt�'�l`�TS r Oit TTIr� S�CURITY OF BONDS 'r:�Y��BI,1J Fi�ONI T�i��T FUND The �otion for the adoption of the fore�;oing ordinance was seconded by T�riember �'r�,nzel, and upon vote bein� taken thereon, the follo�ving voted in favor tilereof: Ross,Fr��nze1, Searles and �;uady, and the following voted against th� same : none ; �,Nl�ereupon s�id ordi— nance �v�s decl�.red duly passed und adopted, anc� jvas sign�:' '- � `�s;�_: I�'Iayor �-�nd �l�rk. _ _, - i�ler�ber �rUnz•:� � ,.,:, ,- .� ,., , ,._ , . ,_ ; �. „ 1, -. , , _ ii!ovec� its �doptio_� ; ,. _ , _ (�c:e i�esolutior�s �ooli,��.l�i) R�;SOI,tiTIGTy CCiI'�'�',;OLIJ ,_TI'_'1(s ,>.:i�IT:�tiY �:�:i:Lit Ill�i'r'ROV_�'i'[ �I�TT� `��he Motion for the �idoption of tlie foregoin� resolution w�� duly seconded by T.i�i_.bcr �uady, ��nd u��on vote b�ing t��k�ri tilereon, the fol_lo�,�in� voted in favor thereof: Ross ,Fr��.nzel, Searles and ��u '.�. , and the folloti�ing votecl �,ga,inst the saLie : none ; ��r�er. eu�on said � resolution �v�,s declar�d duly passed and a�?ol.-ted, and ��a.; signed b� the P.Tayor and the Village Clerk. L - ��:embers Se�,rl�s then introd��ce� t��e follo�;ring resolutio�, and moved its adoption: � i�:�Si�:i:UTI01�T ;��23 ( See ��esolutions Bood ,1�_,. L��' ; Ri:�C)LUTION rtUT?iORI�IiTG 1HL I��tfni�C��, ���1�; :"�TcD D�I,IV_��Y OF ;�75G,000 �i�',l�;i� I�,iP�tu��� 'Ii:�i�T BOIVTDS , . P��Y.•_BI,I: Fi�OD�i 'i�i��, Ir;:�RC;V:�M���PuT B�TdD Ri�.�.�Ti:i TI011 FUi�TD� 1L1�i17 AFYrtOPiiI��TIi�iG a�'.:�1;I1`_T, r�i�;;���1` i-�;"r".`> ;,Tr- - ,.. r-irl m-r} *t T- ni,-> m� � i� �r*--:�^.-rP r 1. _ __x., l, �__._m F� r._� � � ;� � _ .: _� _. -��� � - �_�;�; • a ` ---- �'� �:e 3 ---- � - - - _- � � � � f� � r - �, ,, �, � � , � _ ,_ ._ . � - , __ � �...�. �;_» �CL��ClI,,��;�1 �_.t�i�i�i;tt 4 , 1�63 '_�e rnotion for tne adol�tion of t�ie foregoing re�olution _ �, �_ ly second�d by Pyiember �ua.dy, �nd upon vot� being tdken t��ercon, the follo��ving voted in f�.vor t'riereof: Ross , Franzel, `3earles and :iu��.dy, •�nd the followin� vot�d a�,:�inst tr�e same : ncne ; �-�i�ereupon said resolution Jr�zs c�eclared dul;r passed ��nd :�,dopted, <-�.nd tiv�.s si�ned by the Triayor -a,nd the Villa�;e Clerk. There being no furt}ier business , the r�eeting vra.:� ��.djourned. • , _ _ _ . __. ��. os; , l,I�ayor �� � � � �:ttest : � � �� . J. oll, Clerk ! ♦ • A ►