HomeMy WebLinkAbout1949/01/10 - ADMIN - Minutes - City Council - Regular January 3, 1949 4')5
Bid on Water Tank, Continued
Pittsburgh-Des Moines Steel Company, Des Moines, Iowa, received December 20,
1948, for the construction of 1,000,000 gallon elevated steel water storage tank
of $164,500.00 for 65' diameter tank was determined to be the lowest bid of
responsible bidders, and the President and Clerk were authorized to enter into
a contract with the Pittsburgh-Desmoines Steel Company for same upon the sale
of revenue bonds to cover contract price. Motion was passed by unanimous vote
of Council Members present.
Ordinance No. 316 •
' On motion of Trustee Bolmgren, seconded by Clerk Justad, the following
Ordinance was adopted by unanimous vote of Council Members present.
•
III - ORDINANCE NO.316
• AN ORDINANCE RENAMING LITTEL STREET AND
• A PORTION OF 36th STREET _
•
• The Village Council of the Village of St-. Louis Park do ordain as
follows:
Section 1. West 36th Street from Natchez Avenue to Excelsior Boulevard
as designated in Ordinance No. 71 adopted by the Village Council August 16,
1933, is hereby renamed "362 Street". West 36th Street as designated along
the northerly boundary of Block 1, Minikanda Vista, Second Addition, is not
affected by this amendment.
Section 2. Littel Street from Wooddale Avenue to the east boundary of
the Village of St. Louis Park is hereby renamed "42nd and Street".
Plat Accepted --• Tuxedo Park •
On motion of Trustee Bolmgren, seconded by Trustee Jorvig, the plat of
Tuxedo Park presented by P. H. Anders, was approved and the President and Clerk
were authorized to sign same for the- Village upon the receipt of a performance
bond in the sum of $1,000.00 to guarantee the completion of Monterey Parkway,
and the extension of storm drain beyond the new roadway limit and ditch cleaned
out for proper drainage to the approval of the Village Engineer and subject
III further to allocation of unpaid installments of special assessments totaling
$480.00 payable in 1950 and 1951 heretofore levied for joint District Sewer No.
1 against the area included in the plat on the basis of $30.00 per lot. Motion
was passed by unanimous vote of Council Members present.
Meeting Adjourned
The meeting was adjourned by President Erickson at 10:45 P. M.
1
All(
11 . _ , .._.._rye 1 President of the Village Council
ATTEST:
/ ..
'•�W
JON./ JUSTAD •
Vi sage Clerk
SPECIAL MEETING - JANUARY 10, 1949
A meeting of the Village Council was called to order by President
Erickson at 8:15 P. M., with the following Council Members present at roll
call:
Trustee Bolmgren
Trustee Jorvig
Trustee Perkins
Clerk Justad
President Erickson
Minutes
The minutes of meeting held January 3, 1949 were read and approved as
read.
436 January 10, 1949 Cr
Verified Claims i'1.-
On
On motion of Trustee Jorvig, seconded by Trustee Bolmgren, the following C
verified claims were approved, and the President, and ,Clerk are hereby authorized
to issue warrants covering same, by unanimous vote of Council Members present,
by following roll call: Trustee Bolmgren, Yea; Trustee Jorvig, Yea; Trustee
Perkins, Yea; Clerk Justad, Yea; President Erickson, Yea:
Morten Arneson 95.00 Helen L. Bradley, DBA Sub. San.
Delano Dairy ' 3.00 Drayage Company 3,217.77
Direct Service Company 15.60 n n n " 15.68
Edwin Gilbert f 60.76 n , n n n 690.00
Jensen's Grocery 40.08 _ E. R. Ludwig , 136.10
n n 40.08 n n n 12.25
B. Lundin _ 20.00 Minneapolis Savings & Loan 36.00
Norris Creameries, Inc. 9.63 - Northern States Power Co. 6.26
If n n 17.00 n n n n 2.4+2
Lydia Rogers 177.50 Street Department _ _ 302.50
Swenson's 18.18 " " 1,163.53
n 18.18 Dan_Whalen 14.74
n 18.18 Swenson's 18.18 '
n 47.62 Mrs. J. Pasko 64.83
Bids for Cleaning Three Wells, Repairing Pumps •
and Furnishing Flow Meters
Pursuant to advertisement for bids in the St. Louis Park Dispatch and
Construction Bulletin, bids were received and read from the following bidders
for CLEANING THREE WELLS, REPAIRING PUMPS AND FURNISHING FLOW METERS
1. Edwin H. Renner and Sons $4,542.40
2. Mc Carthy Well Company 4,320.00
3. Layne-Western, Minnesota 2,934.00
4. Bergeson-Caswell, Inc. 3,053.00
5. Keys Well •Drilling Co. 3,065.00
6. Max Renner Well Co. 2,189.00
On motion of Trustee.Bolmgren, seconded by Trustee Perkins, the above bids
were referred to the Village Engineer and Chairman of the Water Department
Committee for tabulation and recommendation, by unanimous vote of Councilmen
present.
Permission to Place Poles
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the Northern
States Power Company was granted permission to place six poles on France Avenue
from Basswood Road to West 26th Street, by unanimous vote of Council Members
present.
Street Light Ordered
On motion of Trustee Jorvig, seconded by Trustee Bolmgren, the Northern
States Power Company was instructed to place a street light at the corner of
Maryland,Avenue and Minnetonka Boulevard, by unanimous vote of the Council.
Sodium Vapor Light Ordered
On motion of Trustee Jorvig, seconded by Trustee Perkins, the Clerk was
instructed to write to the State Highway Department, requesting a sodium vapor
light placed on the East side of State Highway #100 and West 26th Street. `Motion
was passed by unanimous vote of Council Members_present. - �'
Release of Securities
On motion of Trustee Jorvig, seconded by Trustee Bolmgren, the following
additional securities furnished by the Northwestern National Bank of Hopkins,
to bring the total to $75,000.00 were approved ---
U. S. Treasury Bonds, 1951-53 2% Due 9-15-53 $25,000.00
III
and the assignment of securities dated January 7, 1949, covering the full
$75,000.00 were approved by unanimous vote of the Council.
Petition for Sanitary Sewer
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the petition
signed by L. V. Jacobs, 4114 Webster Avenue and others, dated June 7, 1948, for
the construction of Sanitary Sewer in WEBSTER AVENUE FROM 41ST STREET TO 42ND
STREET was referred to the Village Engineer and Chairman of the Sewer Department
Committee for checking and recommendation, by unanimous vote of the Council.
Permits for Bus Benches Renewed for 1949
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the application
49
January 10, 1949 3
Holidays for 1949
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the following
Holidays which fall on work days during 1949 were approved with pay for Village
Employees, by unanimous vote of the Council:
New Year's Day .
Lincoln' s Birthday
Washington's Birthday .
Good Friday
•
Memorial Day
Fourth of July
Labor Day
Columbus Day
Armistice Day --
Thanksgiving Day
Christmas Day
Hearing Re: Bus Rates
On motion of Trustee Bolmgren, seconded by Trustee Jorvig, the Village
Attorney was authorized to represent the Village Council at a hearing before
the Railroad and Warehouse Commission, January 26, 1949, relative to petition
of Twin City Bus Company to increase their rate for bus fares. Motion was
passed by unanimous vote of Council Members present.
St. Louis Park Directory Ads
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the ads sub-
mitted by Mrs. Lydia Rogers for the St. Louis Park Directory were approved by
unanimous vote of the Council. .
Advertise for Truck for Park Board
On motion of Trustee Jorvig, seconded by Trustee Perkins, the Clerk was
instructed to advertise for bids on a one ton truck for the Park Board, accord-
ing to specifications on file, bids to be opened January 24, 1949. Motion was
passed by unanimous vote of the Council.
Bonds Approved
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the follow-
ing bonds were approved by unanimous vote of the Council
HEATING LICENSE BOND with Conditioned Air
Equipment Company as principal, and St.
Paul Mercury Indemnity Company as surety,
dated December 31, 1948, in the amount of
$1,000.00.
HEATING LICENSE BOND with Economy Sheet
Metal Company, Incorporated as principal,
and St. Paul Mercury Indemnity Company as
surety, dated December 28, 1948, in the
amount of $1,000.00.
HEATING LICENSE BOND with C. 0. Carlson
Heating and Air Conditioning Company as
principal, and Continental Casualty Company
as surety, dated December 15, 1948, in the
amount of $1,000.00.
HEATING LICENSE BOND with 0. H. Lerum, DBA
Eastman Furnace Company as principal, and
The Fidelity and Casualty Company of New York
as surety, dated December 74, 1948, in the
amount of jl,000.00.
Action on Salaries and Wages Deferred
Action on 1949 Salaries and Wages was deferred to meeting of January 24,
1949.
Resolution
On motion of Trustee Bolmgren, seconded by Trustee Perkins, the following
resolution was adopted by unanimous vote of all members of the Council present
as follows: President Erickson, Yea; Clerk Justad, Yea; Trustee Perkins, Yea;
Trustee Jorvig, Yea; Trustee Bolmgren, Yea:
RESOLUTION FOR ISSUANCE OF WATER SUPPLY SYSTEM
REVENUE BONDS
FEBRUARY 15, 1949 SERIES
WHEREAS, the Village Council has determined that it is necessary in order
440 January 10, 1949 c0
Resolution for Issuance of Water Supply System Revenue Bonds, Cont'd:
to secure a sufficient and adequate water supply system for the inhabitants of
the Village of St. Louis Park to make improvements to the water supply system
of the Village including construction of a 1,000,000 gallon overhead tank and
incidental or necessary equipment in connection therewith, all at an estimated
cost in excess of One Hundred Twenty-five Thousand Dollars ($125,000.00), and
WHEREAS, the Village has heretofore on the 15th day of January, 1946,
issued its Water Supply System Revenue Bonds in the aggregate sum of $100;000.00
(hereinafter referred to as "January 15, 1946 Series") and its authorized by
the provisions of the resolution of the Village Council of December 18, 1945,
providing for the issuance thereof, to issue additional Water Supply System
Revenue bonds of like tenor which will be a first lien on the net nevenues of
the Village Water Supply System on a parity with the bonds issued pursuant to III -
said resolution of December 18, 1945, provided that the aggregate amount of
principal and interest maturing in any calendar year of all such bonds issued
will not exceed two thirds of the net revenues of said system for such calendar
year as officially estimated by the Village Engineer, and
WHEREAS, the Village Engineer has officially estimated the net revenues
of the Village Water Supply System for the calendar years hereinafter specified
to be at least the sums hereinafter respectively set forth:
1949 $44,000.00
1950 $44,000.00
1951 $44,000.00
1952 -$44,000.00
1953 $44,000.00
1954 $44,000.00
1955 $44,000.00
1956 $44,000.00
1957 $44,000.00
1958 $44,000.00
1959 ' $44,000.00
1960 $44,000.00
1961 $44,000.00
1962 $44,000.00
1963 $44,000.00
1964 $44,000.00
1965 $44,000.00 and
WHEREAS, the Village has heretofore on October 1, 1947, issued its Water
Supply System Revenue Bonds in the aggregate sum of $140,000 (hereinafter
referred to as "October 1, 1947, Series") and is authorized by the -provisions of
the resolution of the Village Council adopted August 15, 1947, as amended by resolution
adopted September 15, 1947, providing for issuance of said bonds, to issue
additional Water Supply System Bonds of like tenor which will be a first lien on
the net revenues of the Village Mater Supply System on a parity with the bonds
issued pursuant to said resolution of August 25, 1947, as amended, provided that
the average net earnings of the Village Water Supply System -for the two calendar
years next preceding issuance of any such additional bonds shall not be less
than one and one-fourth times the aggregate amount required to pay principal and
interest on such additional bonds in any calendar year when added to the aggre-
gate amount of principal and interest of revenue bonds then outstanding, and
WHEREAS, the net revenues of the. Village Water Supply System for the two
calendar years next preceding the date hereof were as follows:
1947 $24,887.88
1948 $44,645.18
Average • $34,766.53
BE IT RESOLVED by the Village Council of the Village of St. Louis Park
that it is necessary and expedient to issue revenue bonds of said Village as
hereinafter described in the sum of $125,000.00 for the purpose of paying for
the improvements to the Village Water Supply System above described, said bonds
being hereinafter sometimes referred to as "February 15, 1949 Series," and
BE IT FURTHER RESOLVED as follows:
1. That the Village shall issue its Water Supply System Revenue Bonds
in the aggregate principal amount of $125,000.00, said issue to consist of 1?5
bonds numbered 241 to 345, both inclusive, each in denominations of $1,000.00
dated the fifteenth day of February, 1949, bearing interest at a rate not to
1-
, 44"x .
January 10, 1949
Resolution for Issuance of Water Supply System Revenue Bonds, Cont'd.
exceed four per cent (4%) per annum payable semi-annually on the fifteenth day
of February and the fifteenth day of August in each year and maturing serially
as follows:
Numbers 1 to 8 February 15, 1950 1,:,000.00 thereof
9 to 16 February 15, 1951 $8,000.00
" 17 to 24 February 15, 1952 $8,000.00 "
" 25 to 31 February 15, 1953 $7,000.00 '!
32 to 39 February 15, 1954 $8,000.00 "
!' 40 to 47 February 15, 1955 $8,000.00 '!
48 to 55 February 15, 1956 $8,000.00• "
'! 56 to 63 February 15, 1957 $8,000.00 '!
64 to 71 February 15, 1958 $8,000.00 "
'! 72 to 78 February 15, 1959 $7,000.00 If
• '! 79 to , 86 February 15, 1960 $8,000.00 '!
!' 87 to 94 February 15, 1961 $8,000.00
95 to 102 February 15, 1962 $8,000.00 't
' " 103 to 110 February 15, 1963 $8,000.00
111 to 118 February 15, 1964 $8,000.00 "
119 to 125 February 15, 1965 $7,000.00 "
Said warrants shall mature serially in order of serial numbers, lowest
numbers first, on January 1, in the years and amounts as follows: $20,000 in
each of the years 1950 and 1951, $40,,000.00 in each of the years 1952 through
1957, and $60,000.00 in each of the years 1958 and 1959. Warrants numbered
1 to 63 shall be payable as aforesaid without option of prior payment. Warrants
numbered 64 to 125 shall each be subject to call for redemption and prepayment,
in inverse order of serial numbers, at the option of the Village, on February
15, 1958, and on any interest payment date thereafter, at par plus interest
accrued to the date specified for redemption, upon thirty days prior notice of
call for redemption mailed to the banking institution at which the warrants
are payable and also to the holder, if known, of each warrant called for re-
demption. The Village Clerk and his successors in office shall maintain a
register of the names and addresses of the holders of warrants numbered 64 to
125, and the respective serial numbers of their warrants, insofar as such
information is made known to the Clerk and his successors, for the purpose of
giving such mailed notices.
2. That the aggregate amount of principal of said bonds and interest
maturing thereon in any calendar year as above specified when added to the
aggregate amount of principal and interest of Water Supply System Revenue
Bonds, January 15, 1946 Series and October 1, 1947 Series, will not exceed two
thirds of the net earnings of the water supply system for such calendar year
as officially estimated by the Village Engineer, and said sum of $34,766.53
(Which is the average net earnings, as hereinabove defined, of the water
supply system for the calendar years 1947 and 1948) is more than one and one
quarter times the aggregate amount required to pay in any of the calendar
years 1949 to 1965, inclusive, the principal of, and interest on, the revenue
bonds heretofore and hereby made payable from such net earnings, to-wit, on
said January 15, 1946 Series, and on said October 1, 1947 Series, and on said
February 15, 1949 Series.
3. That said bonds shall be in substantially the following form:
STATE OF MINNESOTA
COUNTY•OF HENNEPIN
VILLAGE OF ST. LOUIS PARK
WATER SUPPLY SYSTEM REVENUE BOND
February 15, 1949 Series
No. $1,000.00
The Village Treasurer of the Village of St. Louis Park, Hennepin
County, Minnesota, for value received will pay to the bearer out of the Sink-
ing Fund Account of the Water Revenue Fund of said Village on the fifteenth
day of February, 19 , the sum of $1,000.00, or if this bond is prepayable as
noted below, on a date prior thereto on which it shall have been called for
redemption and prepayment, and will pay interest thereon from the date hereof
until this bond is paid at the rate of per cent per annum, payable semi-
annually on the fifteenth day of February and the fifteenth day of August in
each year in accordance with and upon presentation and surrender of the interest
442 January 10, 1949
Resolution for Issuance of Water Supply System Revenue Bonds, Cont'd.
coupons hereto attached, as they severally become due. Both principal and
interest are payable at Northwestern National Bank of Minneapolis, Minneapolis,
Minnesota, in any coin or currency of the United States of America which on
the date of payment is legal tender for public and private debts.
This bond is one of an issue of $150,000 Water Supply System Revenue
Bonds of like date and tenor, except as to maturity, all issued by said Village
for the purpose of financing purchase and construction of an overhead reservoir
tank to be used as a part of the public water supply system of said Village and
is issued pursuant to and in strict conformity with the Constitution and Laws
of the State of Minnesota and ordinances and resolutions of said Village there-
unto enabling. . Principal of and interest on each and all of said bonds are
payable solely out of the net revenues to be derived from operation of said
system and this bond does not constitute a debt of the Village within the mean-
ing of any constitutional or statutory limitation, and the taxing powers of
the Village are not pledged for payment of such principal and interest.
Bonds of this series which mature after February 15, 1958, shall be
subject to redemption by the Village prior to maturity on February 15, 1958, and
on any interest payment date thereafter at par and interest accrued to the date
specified for redemption shall be given by the Village to said Northwestern
National Bank of Minneapolis, at least thirty days prior to said redemption and
by mail to the holder (if known) of each warrant called for redemption .
It is hereby certified and recited that all acts, conditions, and things
required by the Constitution and Laws of the $tate of Minnesota and Ordinances
and Resolutions of said Village to be done, to happen, to exist and to be
performed precedent to and in the issuance of this bond, have been done, have
happened, do exist and have been performed in due form, time and manner as so
required; that there is an existing public water supply system in said Village
and that the proceeds of the sale of these bonds will be used for authorized
improvements thereof; that the Village has duly established a Special Water
Revenue Fund, into which all revenues derived from the operation of said system
will be paid, and a Sinking Fund account therein; that the Village has duly
ordained and established and will maintain a schedule of rates and charges for
services and facilities provided by said system and will apply the same in
such manner and amounts as will pay net revenues into the said Sinking Fund
Account sufficient to meet all payments of principal and interest on said bonds
falling due within the ensuing twelve month period, and to create and maintain
a reserve for such purpose in amounts which shall be not less than the_ principal
and interest to fall due within one year next ensuing; that said bonds together
with said January 15, 1946 Series, and October 1, 1947 Series Bonds do and will
at all times constitute a first lien and charge on the net revenues of said
system and of any additions thereto, which will be applied first in payment of
interest as it falls due on all of said bonds without preference of one bond
over another, and second in payment of principal as it falls due on said bonds
in order of serial number thereof; provided that additional revenue bonds which
will likewise be a first lien upon the net revenues of said system may be
issued provided that the average net earnings of the Village Water Supply
System for the two calendar years preceding issuance of any such additional
bonds shall be not less than one and one quarter times the aggregate amount of
principal and interest of revenue bonds then outstanding;all as is more fully
set forth in the ordinances and resolutions adopted in relation to said bonds to
which reference is hereby made for further details and for other covenants in
respect thereto.
IN WITNESS WHEREOF the Village of St. Louis Park, Hennepin County,
Minnesota, by its Village Council has caused this bond to be executed in its
behalf by the signature of the President of the Village Council, countersigned
by the Treasurer, attested by the Clerk and its corporate seal to be affixed and
has caused the interest coupons attached to be executed and authenticated by
the facsimile signatures of the President and Clerk, all as of February 15, 1949.
COUNTERSIGNED:
President of the Village Council of
the Village of St. Louis Park
Village Treasurer
ATTEST:
Village Clerk
•
443
-«� January 10, 1949
Resolution for Issuance of Water Supply System Revenue Bonds, Cont'l.d.
FORM OF COUPON
No.
On the 1st day of February, 1950, the Village of St. Louis Park,
Hennepin County, Minnesota, will pay to the bearer
at Northwestern National Bank of Minneapolis,
Minnesota, out of the Sinking Fund account of the Water Revenue Fund of said
Village, for interest then due on its. Water Supply System Revenue Bond dated
February 15, 1949, No.
(Facsimile signature)
President of the Village Council
ATTEST:
(Facsimile signature)
Village Clerk
Coupons maturing after February 15, 1958 shall also contain the "unless
called for earlier redemption,".
4. That said bonds shall be payable only out of the net revenues of the
water supply system of said Village as computed by deducting from the gross cash
receipts of the Village for the use of water from the Village water supply system
the following:
A. The cost incurred for the purchase of water during any emergency
whereby the sources owned by the Village become inadequate.
B. Ordinary operating expenses of the water system, including without
limitation on the generality thereof, the following; salaries,
fees, cost of pumping, water treatment, maintenance, insurance and
repairs, but not including the cost of extension of mains or other
capital improvements.
C. Taxes, if any, legally imposed and collected by any other governmental
authority on the property of the said system, the income derived
therefrom, or the sales of water therefrom.
D. Such reasonable sum as shall be required to maintain a cash reserve
for operating expense.
5. That such net revenues shall be segregated by the Village Treasurer
and there shall be set apart from such net revenues and transferred each month
to the Sinking Fund Account which created by resolution adopted by the Village
Council August 25, 1947, for issuance of Water Supply System Revenue Bonds, a
sum not less than one twelfth of the amount which will be required to pay the
principal and interest of the bonds issued pursuant to said resolution and this
reqolution within twelve months next ensuing. The sum of $9,000.00 is hereby
transferred from the Water Utility Fund to a Bond Reserve Account which principal
and interest on Water Supply Revenue Bonds issued hereunder at such times as the
same shall be come due and there shall be insufficient funds in the Sinking Fund
Account for this purpose. _
Whenever the moneys in said Bond reserve account shall be less than
$9,000.00, forty per cent of any surplus net revenues remaining after the trans-
fer of required net revenues to sinking fund accounts for payment of interest
and principal of outstanding Water Supply System Revenue Bonds of the Village
and Bond Reserve Account for October 1, 1947 Series Revenue Bonds, shall be
transferred to a Bond Reserve Account for February 15, 1949 Series and accumu-
lated therein until the moneys in said account shall equal $9,000.00.
6. That until all principal and interest due on _said bonds shall have
been paid in full the Village hereby covenants and agrees with the purchasers
and holders from time to time of said bonds as follows:
a. That it will use the proceeds of sale of said bonds for paying the
cost of construction of overhead reservoir tank and incidental or
necessary equipment in connection therewith, which upon acquisition
444 January 10, 1949
Resolution for Issuance of Water Supply System Revenue Bonds, Conttd.
•
or construction thereof will be a part of the public water supply system of
said Village.
b. That it will maintain said public water supply system in good
condition and will continuously operate said system as a public
convenience and utility.
c. If any properties constituting capital assets of said plant shall
be only at their fair market value, and the proceeds of such sale
or disposition shall either be used to procure other capital
- assets or applied to pay principal of and interest on warrants
issued hereunder. No such sale or sales shall be made at times
or prices such as to imperil the prompt and full payment of -the
warrants issued hereunder and the interest thereon.
d. That the Village will at all times maintain, impose and collect
rates and charges for all services and facilities provided by
said system, such that the collections thereof will at all times
be sufficient to pay all costs and expenses of operating and
maintaining said system and to produce in addition thereto net
revenues sufficient to pay all principal of and interest 'on -said
bonds as such principal and interest become due, and to create as
soon as may be, and thereafter to maintain, a reserve in the
Sinking Fund account at least equal to the amount of principal and
interest to fall due within the calendar year next ensuing on the
bonds from time to time outstanding.
e. That the bonds issued pursuant to this resolution, together with
said January 15, 1946 Series and October 1, 1947 Series Revenue
Bonds, shall at all times constitute a first lien and charge on. all
said net revenues of said system without preference of one bond
over another; provided that additional bonds of like tenor which
will likewise be a first lien upon said net revenues of said
system and share therein on a parity with the bonds issued hereunder
may be issued hereafter provided that the average net earnings of
the Village water supply system for the two calendar years preced-
ing issuance of any such additional bonds shall be not less-than
one and one-quarter times the aggregate amount required to pay
principal and interest on such additional bonds in any calendar
year when added to the aggregate amount of principal and interest
of revenue bonds then outstanding. Except as herein provided
the Village will not issue any other bonds which will be payable
out of the revenues of the said water supply system and constitute
a lien or charge thereon unless said bonds are aubject to the lien
and charge of all bonds issued hereunder; provided, that if the
principal of any bond issued hereunder shall become due when there
is no money in the special fund herein provided for the payment
thereof, such bonds may be refunded or the time of payment thereof
may be extended, and such extended or refunded bonds shall
share on a parity with bonds issued hereunder.
f. That the Village will at all times keep all property used in
connection with said system excepting wells, water mains and hy-
drants, insured against loss or damage causes customarily insured
against for like properties in reasonable amounts and adequate to
protect the Village and the holders of said bonds and will use the
proceeds of any and all such insurance policies to repair or restore
any insured damage to said system, or to pay, and retire the--outstanding
bonds.
g. That it will keep proper books of record and account showing all
financial transactions relating to said system and its operation,
maintenance and financing, which shall at all reasonable times be open
for inspection and copying by the holder of any of said bonds or his
agent or attorney, and will provide for an annual audit of said books
and accounts by the public examiner of the State of Minnesota or a
certified public accountant. The Village will furnish the holder
transcripts of any of said records or audits on payment of a reasonable
fee.
h. That in the event of any default in payment of any of said bonds the
holders hereof from time to time shall have the rights, remedies,
privileges granted by law for enforcement of their rights or the collec-
tion of said bonds.
44q
January 10, 1949
Resolution for Issuance of Water Supply System, Revenue Bonds, Cont'd.
i. That it will cause all persons handling moneys received from said
water supply system to be bonded in reasonable amounts for the pro-
tection of the Village and the holders of the bonds.
7.• That the Village Council shall reserve the right to repay and redeem
any bond of this issue maturing thereafter on February 15, 1958-and any interest
payment date thereafter at par and interest accrued to the date of redemption.
Whenever' any balance of net revenues remains in the general water fund over and
above those herein required to be paid into the bond reserve accounts and sink-
ing fund' account, all or any part thereof may be used to pay and redeem bonds
issued hereunder, provided that nothing herein shall prevent the village from
providing other funds outside of revenues of the water system for redemption of
bonds nor in event of redemption of all revenue bonds then outstanding, using
all money in the water fund, including the sinking fund account and bond reserve
accounts. Notice of redemption shall be given by the Village to Northwestern
National• Bank of Minneapolis at least thirty (30) days prior to the date of
said redemption, and by mail to holders of bonds_whose names and addresses are
known to- the Village Clerk.
8.• That the Clerk be hereby authorized and directed to advertise for
bids for purchase of said revenue bonds, said bids to be opened by the Village
Council at its meeting to be held February 7, 1949.
9.• That the Clerk and Treasurer are hereby authorized and directed to
prepare and furnish to Nessrs. Dorsey, Colman, Barker, Scott and Barber as
attorneys for the purchasers of said bonds, certified copies of all proceedings
or records relating to said bids and to the financial affairs of said Village
and such• certified copies and certificates shall be deemed to be representations
of the Village as to all facts stated therein; that the fees of said attorneys
and the cost of printing of the bonds together with charges of the Northwestern
National Bank of Minneapolis be paid the the Village as an operating expense of
the water supply system of the Village.
Hearing-Sidewalk Assessments
A hearing was had on assessments for sidewalk construction (improvements
N-47, N-63, N-64, N-69, N-70, N-71) .' No one appeared. _
Resolution
On-motion of Trustee Perkins, seconded by Trustee Bolmgren, the following
resolution was adopted by unanimous vote of all members of the Council present:
• SIDEWALK ASSESSMENT RESOLUTION
WHEREAS the Village Council has met at the time and place specified in
resolution'adopted December 6, 1948, which was duly served on owners of property
fronting• on sidewalk constructed at the following locations in said Village, and
has heard all testimony offered by or on behalf of all persons interested or
affected• by the construction of said walks:
• OBER LOCATION
• N-47 East side of Dakota Avenue from 31st Street
• to 100 feet north! of 32nd Street
•
- N-63 East side of Hampshire Avenue from 28th Street
to 29th Street
•
• N-64 West side of Hampshire Avenue from 28th Street
to 29th Street
•
• N-69 East side of Kentucky Avenue from 31st Street
to 32nd Street
• N-70 West side of Kentucky Avenue from 31st Street
to 32nd Street
•
N-71 East side of Georgia Avenue from 31st Street
• to 32nd Street.
BE IT RESOLVED by the Village Council of the Village of St. Louis Park that
it hereby determines that the amount of benefits caused by said construction to
each lot, part of lot, or parcel of ground fronting the portion of the street
where such walks were constructed are as set forth in the following list:
446 January 10, 1949
Y
Sidewalk Assessment Resolution, Cont'd. ;
r...",
SIDEWALK N-47
LOT BLOCK ADDITION AMOUNT
South 25 ft. Lot 12) 12 4 Adolph Fines 73.72
& Lot 29 Rearr. SLP, Block)
. 252 )
North 50 feet 12 4 " it 76.00
13 4 " !'
. , 76.00
14 . 4 r. " 76.00
15 4 " It 76.00
16 4 " u 76.00
17 4 _ !' 76.00
18 4 " " 76.00
N-63 -- 1 12 The Bronx 56.00
2 12 it " 56.00
3 12 " It 56.00
4 12 " '! 56.00
5 12 " It 56.00
6 12 't 11 56.b0
7 12 '! It
8 12 tt It 56.00
9 12 " " 56.00
10 12 n n 56.00
11 12 " " 56.00
12 12 n , n 56.00 _
13 12 " " 56.00
14 12 It t! 56.00
15 12 " _ 46.20
N-64 -- 16 11 " " 46.20
17 11 " it 56.00
18 11 n " , 56.00
_ 19 11, ' " “ 56.00
•
20 11, " _ " _ _ 56.00
21 11 it " 56.00
22 11 " " 56.00
23 11 " " 56.00
24 11 tt " 56.00
25 11 " " 56.00
26 11 " '! 56.00
27 11 " " 56.00
28 11 '! �! 56.00
29 11 It It 56.00
30 11 IIIt 56.00
N-69 16 10 Lenox_ 56.00
17 10 " 56.00
18 10 '! 56.00
19 10 1t 56.00
20 10 I! 56.00
, 21 10 n 56.00
22 10 " 56.00
23 10 it 56.00
24 10 '! 56.00
25 10 t! 56.00
26 10 '! 56.00
27 10 ° 56.00
28 20 I! 56.00
29 10 " 56.00
30 10 '! 54.60 III
N-70 1 9 ° 54.60
2 9 " 56.00
3 9 '! 56.00
4 9 !' 56.00
5 9 u 56.00
6 9 56.00
7 9 !! 56.00
8 9 '! 56.00
9 . 9 9 56.00
' 10 9 '! 56.00
11 9 I! 56.00
January 10, 1949 446-A
Sidewalk Assessment Resolution, Cont'd.
LOT BLOCK ADDITION AMOUNT
N-70 --- 12 9 Lenox 56.00
13 9 n 56.00
14 9 U 56.00
• 15 9 " 56.00
•
• N-71 --- 16 14 n54.00
. 17 14 If 54.00
18 14 fl 54.00
III 19 14 54.00
20 14 54.00
21 14 �•� 54.00
22 14 n 54.00
23 14 n 54.00
24 14 " 54.00
25 14 _ 54.00
26 14 n 54.00
27 14 t' 54.00
28 14 " 54.00
�9 14 54.00
30 14 n 48.60
BE IT FURTHER RESOLVED that there is hereby levied against each lot, part
of lot, and parcel of ground above described an assessment in the sums respectively
hereinbefore set forth which shall be a charge against the same as in state,
County, and Village taxes, payable in three installments, the first of which
shall be due concurrent with taxes collected in the year 1950.
Hearing-Grading & Curb & Gutter Assessments
A hearing was had on assessments for grading and curb and gutter cons-
truction (improvements N-39 and N-20). No one appeared.
Resolution°
On motion of Trustee Perkins, seconded by Trustee Bolmgren, the following
III resolution was adopted by unanimous vote of all members of the Council present:
ASSESSMENT RESOLUTION
WHEREAS, pursuant to resolution of the Village Council adopted December 6,
1948, and published in the St. Louis Park Dispatch December 10, 1948, the Village
Council has met at the time and place specified in said resolution and has heard
all testimony offered by interested parties in connection with proposed assess-
ments for the following improvements:
CURB AND GUTTER
N-39 East and West sides of Glen Place from 44th Street
to North line of Lot 16, Block 12, Browndale Park.
GRADING
N-20 Alley in Carlson's Addition and Carlson's Second
Addition
BE IT RESOLVED by the Village Council of the Village of St. Louis Park
that the amount of special benefits conferred upon each lot, part of lot, piece
or parcel of ground for the cost of each of said improvements without regard to
cash valuation, ratably and in proportion to the special benefits conferred
III upon it, is hereby determined to be as respectively set forth in the following
list, and there is hereby levied and assessed against each lot, part of lot,
piece or parcel of ground described therein an assessment equal to the sums
therein respectively set forth, as authorized by Chapter 382, Laws of Minnesota,
1903, payable in three equal annual installments, the first of_which shall be
payable concurrent with real estate taxes levied in 1949 and collected in 1950,
together with a penalty of 10 per cent if not paid in full within 30 days after
publication of this resolution, and interest at 6 per cent per annum from the
date of issuance of orders for financing this improvement.
CURB AND GUTTER N-39
LotBlock Addition Amount
All Lot 6 and Nly
26 feet Lot 7 6/7 11 Browndale Park 45.50
446-B
Grading, Curb & Gutter Assessment Resolution, Cont'd.
Curb and Gutter N-39 ---
Lot Block Addition Amount
Sly 40 feet Lot 7 and
all Lot 8 7/8 11 Browndale Park 185.50
9 11 " 323.75
12 12 " it 103.25
13 12 n It 115.50
14 12 II It 115.50
15 12 n it 115.50
16 12 " It 115.50 111
ALLEY GRADING N-20 III
Lot Addition Amount
• 1 Carlson's 23.59
• 2 „ 22.51
3 n 21.78
4 n 19.24
• 5 „ 19.24
• 6 „ 19.24
7 ,� 10.16
1 Carison's Second 23.59
2 It n 22.51
3 II I, 21.78
4 It ,! 10.16
• 5 „ ,I 19.24
6 I-,
!i 19.24
7 - „ It 19.24
Meeting Adjourned
The meeting was adjourned by President Erickson at 11:45 P. M.
/ /
4_1_
President of the Village Council
ATTEST:
!�/ ;! = -
JOSE' JUSTAD
Vi ,:ge Clerk -