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�, � <br /> • CITY OF ORONO <br /> � Special Meeting of the Orono Council, 5: 00 P.M. <br /> June 28 , 1976 <br /> • <br /> The Orono Council met on the above date with <br /> • the following members present: Mayor Searles, <br /> . Councilmembers Butler and Massengale. Absent: <br /> Councilmembers Paurus and Welsh. Also present: <br /> � City Administrator Benson, Finance Director Kuehn, <br /> City Attorney Bruce Malkerson, John Iten, First <br /> � National Bank of Minneapolis; Robert W. Shaw, <br /> Allison-Williams Company; Charles R. Gesne, <br /> � Bancilorthwest; Duke Steenson, Piper, Jaffray & <br /> Hopwood, Inc. ; William Lind, Trust Department <br /> • First National Bank of Minneapolis; and Jack Van <br /> . Valkenburg, BancNorthwest. <br /> • Mr. Eioward F. Marcotte, Cronin and Marcotte, Inc. , BOND REFUND SALE <br /> Municipal Securities, commented on the present <br /> � bond market and Orono' s advance refund proposal, <br /> stating that all alternatives should be considered. <br /> � At 5: 30 P.M. , Phil Chenoweth of Ehlers & Associates, <br /> arrived with Mr. A1 Vachte, representing the First <br /> � National Bank of_ Minneapolis. <br /> � Mayor Searles announced that this meeting was <br /> • convened to consider bids for the purchase of <br /> $2, 635,000 general obligation refunding bonds of <br /> � 1976 received by the City Clerk-Administrator prior <br /> to 1: 00 P.M. , June 28, 1976, and opened and tabulated <br /> � by him. <br /> � Mr. Phil Chenoweth stated that the City Clerk- <br /> • Administrator at the 1: 00 P.M. bid opening, presented <br /> affidavits showing publication of notice of sale <br /> � ten days prior to the date of sale in the official <br /> newspaper and in Commercial West, a financial paper <br /> � published in Minneapolis, Minnesota, which affidavits <br /> were examined and found satisfactory and ordered <br /> i placed on file. <br /> � The City Clerk-Administrator then presented the bids <br /> . received in his office. These had been opened and <br /> tabluated and found to be as follows: <br /> � NET INTEREST <br /> � NAME OF BIDDER RATES YEARS COST & RATE PRICE <br /> ALLISON-WILLIAMS COMPANY 5. 750 1977/82 $1,106, 032.50 $2, 635 ,000. 00 <br /> � 1ST idATIONAL BANK OF MPLS. 5.50a 1983/86 <br /> � Co-Managers 5.600 1987 5. 7186% <br /> BancNorthwest 5. 75% 1988 <br /> � Dain, Kalman & Quail, Inc. 5.90% 1989 <br /> r4inneapolis, Minnesota 6. 00% 1990/91 <br /> � lst National Bank of St. Paul <br /> � St. Paul, Minnesota <br /> Merrill Lynch, Pierce, Fenner & <br /> . Smith <br /> Piper, Jaffray & Hopwood Inc. <br /> � White, Weld & Cc : Inc. <br /> Minneapolis, Minnesota <br /> � <br />