HomeMy WebLinkAbout1952/03/17 - ADMIN - Minutes - City Council - Regular2 March 17, 1952
REGULAR MEETING MARCH 17, 1952
A regular meeting of the Village Council was called to order by Mayor
C. L. Hurd at 8:00 P. M.
Reverend Paul F. Obenauf of Wooddale Luthern Church gave invocation
The following Council Members were present at roll call:
Trustee Bolmgren
Trustee Middleton
Clerk Justad
Mayor Hurd
Verified Claims
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the follow-
ing verified claims were approved, and the Mayor and Clerk were authorized to
issue warrants covering same, by unanimous vote of all Members of the Council
present, by roll call as follows: Trustee Bolmgren, yea; Trustee Middleton, yea;
Clerk Justad, yea; Mayor Hurd, yea:
American City Magazine
12.00
Irving C. Bernstein, MD
50.00
John H. Carlson
35.44
M. C. Freer
24.50`
Just's Grocery
35.05
Landers-Norblom-Christenson
Co.,
Wm. H. Mc Coy
20,000.00
/ P,�
15.10
Edmund T. Montgomery
75.00
it it if
100.00
it if n
100.00
of to
125.00
NW Bell Telephone Co.
253.21
if if 11
233.80
,
Howard W. Perkins
2,000.00
Lucille -Shaffer
22000.00
Phil W. Smith
15.10
Terry Brothers, Inc.
4,000.00
Ira M. Vraalstad
27.74
American Linen Supply Co. 9.57
Butler Drug 12.25
R. B. Connery 17.17
C. M. Jones 10.70
Joseph Justad 9.33
National Tea Company 43.22
Minneapolis Gas Company 262.08
of it n 1.50
National Tea Company 43.22
Northern States Power Co. 2,832.29
11 if it it 156-67
NW National Bank of Mpls. 3,578.92
Ellida C. Parchem 7.30
Penny Super Market 32.96
Reeves Coal & Dock Corp. 92.76
Shursen Insurance Agency 5,081.62
Standard Oil Company 15.20
if n if 15.20
Western Underground Const.
Company 3,081.25
to if 5,397.50
Request to Play Bingo
A letter from Brookside PTA Carnival Co -Chairman, Mrs. K. J. Kelley, dated
March 10, 1952, requesting permission to play Bingo at their Annual Carnival to
be held at the Brookside School, Friday, April 18, 1952, was read. No one
appeared in opposition. No action taken.
Tentative Plat of Cedarcrest Addition
A tentative plat of Cedarcrest Addition (Plat of part of W2 of NE4 of
Section 8, Township 117, Range 21) was presented by Bruce Construction Company.
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the above
mentioned tentative plat of Cedarcrest Addition was referred to the Village
Engineer for checking and recommendation, by unanimous vote of all Members of
the Council present.
Annual Meeting for Instruction of Assessors
On motion of Trustee Middleton, seconded by Trustee Bo].mgren, Village
Assessor, R. B. Connery and Clerk Joseph Justad were authorized to attend the
annual meeting for the instruction of assessors and local board members, to be
held on March 21, 1951 in the Mayor's Reception Room, City Hall, Minneapolis,
Minnesota, with necessary expenses paid, by unanimous vote of all Members of the
Council present.
Request for Contribution to County Fair
A letter from Hennepin County Agricultural Society, requesting a con-
tribution to the Hennepin County Fair to be held July 18, 19, and 20, 1952, was
read. On motion of Trustee Middleton, seconded by Trustee Bolmgren, the above
communication was ordered placed on file, by unanimous vote of all Members of
the Council present.
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March 17, 1952 2 1- 5
Licenses
On motion of Trustee Bolmgren, seconded by Trustee
ing applications for 1952 licenses were approved, and the
authorized to issue licenses to expire December 31, 1952,
all Members of the Council present:
Lambie Electric Company
Howley's Snack Shop
n if n
Adolph Fine, Inc.
Dairy -Mor Drive -Inn
R. J. Mangan Company
Larsen Drainage System
Middleton, the follow -
Mayor and Clerk were
by unanimous vote of
Electrical
Restaurant
Cigarette
Gas Storage Tank
Restaurant
Plumbing
Scavenger
Bonds
On motion of Trustee Middleton, Seconded by Trustee Bo1mgren, the following
bonds were approved by unanimous vote of all Members of the Council present:
HEATING LICENSE BOND with Millard G. Lee
as principal, and United States Fidelity and
Guaranty Company as surety, dated January 9,
19523_in the amount of $1,000.00.
PLUMBING LICENSE BOND with R. J. Mangan Company
as principal, and Commercial Insurance Company
as surety, dated March 4, 1952, in the amount of
$4.,000.00.
Petition for Sanitary Sewer
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
petition was referred to the Village Engineer and Chairman of the Sewer,Depart-
ment Committee for checking and recommendation., by unanimous vote of all Members
of the Council present:
P-1045 PETITION FOR SANITARY SEWER, signed by
0. 0. Lemkuhl, 3350 Virginia Avenue and others,
for the construction of sanitary sewer in
VIRGINIA AVENUE FROM.33RD STREET TO 34TH STREET,
dated March 12, 1952.
Petition for Water Main
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the follow-
ing petition was referred to the Village Engineer and Chairman of the Water
Department Committee for checking and recommendation, by unanimous vote of all
Members of the Council present:
P-1039 PETITION FOR WATER MAIN, signed by R. W. and
A. J. Ruedlinger, dated March 11, 1952, for the
construction of water main in YUKON AVENUE FROM
36TH STREET to 35TH STREET - FROM EXISTING
LOCATION NORTH TO 35TH STREET.
Petitions for Street Improvements
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
petitions were referred to the Village Engineer and Street Department Committee
for checking and recommendation, by unanimous vote of all Members of the Council
present:
P-1042 PETITION FOR SIDEWALK, signed by Clark W.
Daniel, 2928 Kentucky Avenue and others, dated
March 17, 1952, for the construction of sidewalk
on the WEST SIDE OF KENTUCKY AVENUE FROM 29TH
STREET TO MINNETONKA BOULEVARD.
P-1043 PETITION FOR SIDEWALK, signed by Joseph F. Lofrano,
3624 Rhode Island Avenue and others,'dated November
102 ]951, for the construction of sidewalk on the
WEST SIDE OF RHODE ISLAND AVENUE FROM WALKER STREET
TO HIGHWAY NO. 7.
P-1044 PETITION FOR CURB AND GUTTER, signed by Joseph F.
Lofrano, 3624 Rhode Island Avenue and others, dated
November 10, 1951, for the construction of curb
and gutter on the WEST SIDE OF RHODE ISLAND AVENUE
FROM WALKER STREET TO HIGHWAY NO. 7.
216 March 17, 1952 Cc
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Resolution Z-4
On motion of Trustee Middleton, seconded by Trustee Bolmgren, the follow- C
ing resolution was adopted by unanimous vote of all Members of the Council CL
present:
RESOLUTION CANCELING MAIN TRUNK SEWER #2 ASSESSMENT
WHEREAS it appears that by resolution of the Village Council levying
assessments for Main Trunk Sewer #2, the following property owner paid the
Village $90.83, the payments for 1949 thru 1957 (Receipt #12227, paid 9-24-48);
and whereas these payments were inadvertantly not removed from the County
Auditor's records and thus said property owner subsequently paid again the
installments for 1950 ($12.40) and 1951 ($12.10); therefore
BE IT RESOLVED that the 1950 and 1951 installments heretofore paid in the
respective amounts hereinafter set forth be refunded to the respective property
owner, and, upon receipt of a signed verified claim and the paid tax statements,
that the Mayor and the Clerk be hereby authorized to issue warrants in payment
of such refunds to the respective property owner.
AMOUNTS TO BE REFUNDED
NAMELOT BLOCK ADDITION 1950 1951
M. C. Freer 26 10 Suburban Homes Cols. 12.40 12.10
4151 Webster Avenue
BE IT FURTHER RESOLVED by the Village Council of the Village of St. Louis
Park that the 1952 thru 1957 installments heretofore levied against the above
described lot in the respective amounts set forth below be cancelled and that
the Treasurer and the Auditor of Hennepin County be hereby authorized to cancel
the same upon their respective records.
AMOUNTS TO BE CANCELLED BY COUNTY AUDITOR
1252 1953 1954 1955 1956 1957
11.80 11.50 11.20 10.90 10.60 10.30
Resolution
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the follow-
ing resolution was adopted by unanimous vote of all Members of the @ouncil
present:
RESOLUTION CANCELING MAIN TRUNK SEWER 1-E,, STORM SEWER D-17,
17-B STORM SEWER #491 and SANITARY SEWER 1-L ASSESSMENTS
WHEREAS it appears that by resolution of the Village Council levying
assessments for Main Trunk Sewer 1-E, D-17 Storm Sewer,, 17-B Storm Sewer #491,
and Sanitary Sewer 1-L the following property owner, on April 20, 1950, paid
the Village $169.20, the payment in full for the above assessments; and
WHEREAS these payments were inadvertantly not removed from the County
Auditor's records, and thus the property owner subsequently paid again the install-
ments on said assessmentsfor 1951 in the amount of $35.44; therefore
BE IT RESOLVED that the 1951 installments heretofore paid in the respective
amounts hereinafter set forth be refunded to the respective property owner, and,
upon receipt of.a signed verified claim and the paid tax statements, that the
Mayor and Clerk be hereby authorized to issue warrants in payment of such refunds
to the respective property owner.
,AMOUNTS TO BE REFUNDED
NAME LOT BLOCK ADDITION AMOUNT 1951
John H. Carlson 24 16 Park Manor 5.15 MT Sewer 1-E
2825 Alabama 6.14 D-17 St. S.
3.59 17-B St. S.
20.56 SS 1-L
BE IT FURTHER RESOLVED by the Village Council of the Village of St. Louis
Park that the installments from 1952 on for said assessments levied against the
above described lot, in the respective amounts set forth below, be cancelled
and that the Treasurer and the Auditor of Hennepin County be hereby authorized to
cancel the same upon their respective records.
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March 17, 1952 217
Resolution Canceling Sewer Assessments, Continued
AMOUNTS TO BE CANCELED BY COUNTY AUDITOR
JOB 1952 1954 1955 1956 1957 1958 1959
D-17 St. Sewer 5.92 5.72 5.50 5.28 5.06 4.84 4.62 --
171 ST.#491 " 3.47 3.34 3.22 3.10 2.97 2.85 2.72 2.60
SS 1-L 19.80 19.04 18.28 17.52 16.76 16.00 _w ---
Notice of Student Fare
A notice of the establishing of a student fare on street cars and busses
in the Village of Crystal from the Minnesota Railroad and Warehouse Commission,
dated March 11, 1952, was read and ordered filed.
Resolution
On motion of Trustee Bolmgren, seconded by Trusted Middleton, the following
resolution was adopted by unanimous vote of all Members of the Council present.
RESOLUTION SETTING HEARING FOR STREET IMPROVEMENTS
RESOLVED by the Village Council of the Village of St. Louis Park that a
hearing on the following proposed street grading improvements be hereby set for
April 7, 1952:
52-3 Louisiana Avenue from Minnetonka Boulevard to 27th Street
The area to be assessed is adjacent to the property.
Partial Payments on Contract Work
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
partial payments on contract work in progress, presented by Village Engineer,
Phil W. Smith, was approved, and the Mayor and Clerk were authorized to issue
warrants covering same, by unanimous vote of all Members of the Council present:
PARTIAL PAYMENT #2
SANITARY SEWER - 51-142 - 51-245 thru 51-251
Contractor - Western Underground Construction Company
Contract Price - $57,239.75
Contract Date - 10-29-51
Materials and Labor for Lift Station
Less Partial Payment #1
it 15% Withheld
Wooddale from Hamilton to 1651 S
W 25th from France to Joppa
Joppa from W 26th to W 25th
Inglewood from W 26th to W 25th
Huntington from W 26th to W 25th
Basswood Rd from France W 9151
France from W 25th to Basswood Rd
Lift Station #6
SANITARY SE , - 51-279
$11,350.00
$5,250.00
1,702.50 5,952.50
Amt. Payment #2 $ 5,397.50
PARTIAL PAYMENT #1
Contractors - Western Underground Construction Co.
Contract Price - $17,626.50
Contract Date - 12-17-51
Materials and Labor for Lift Station $ 3,500.00
1 M Sheathing, left in trench @ $125.00 M 125.00
$ 3,625.00
Less 15% Withheld 543.75
Amt. Payment #1 $ 32081.25
Dakota Avenue from S Line Lot, 14, Block 4, Adolph Fine's Addition to Mtka. Blvd.
2 18 March 17, 1952
cc
Ordinance No. 395
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the follow-
�.
ing ordinance was adopted by unanimous vote of all Members of the Council present:
AN ORDINANCE AMENDING THE ZONING ORDINANCE
OF THE VILLAGE OF ST. LOUIS PARK
The Village Council of the Villdge of St. Louis Park ordains:
Section 1. The Zoning Ordinance of the Village of St. Louis Park adopted
January 20, 1932, as amended by Ordinance No. 349 adopted by the Village Council
December,281 19492 is hereby further amended by adding to Section 10 of said
ordinance the following subdivisions:
1110.2-6 On premises to be used for the parking of motor
vehicles. If the parking is in connection with commercial
or industrial property in the vicinity, the Council may
require surfacing of the parking area to prevent dust from
the use thereof becoming a nuisance to adjacent property
and may prescribe such regulations as may be proper to
regulate the traffic entering and leaving said parking areas."
Section 2. This ordinance shall take effect from and after its publication.
Ordinance No. 396
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
ordinance was adopted by unanimous vote of all Members of the Council present:
AN ORDINANCE AMENDING ORDINANCE NO. 157
RELATING TO RENTAL CHARGES FOR USE OF SEWERS
The Village Council of the Village of St. Louis Park ordains:
Section 1. Section 2 of Ordinance No. 157 adopted August 26, 1940, entitled
AN ORDINANCE GOVERNING THE USE OF SEWERS AND ESTABLISHING RENTIAL CHARGES FOR THE
USE OF SAME, is hereby amended by adding thereto the following:
"The obligation to pay the charges herein specified
shall be incurred as of the -time of connection of
any private sewer disposal system to the Village
sewer, and such connection shall be deemed to be
made if a sewer connection is made to the Village
sewer at the curb line whether or not the connect-
ing sewer is then in operation in connection with
the private sewer system on the adjacent premises."
Section 2. This ordinance shall take effect from and after its publication.
Resolution
On motion of Trustee Bolmgren, seconded by Clerk Justad, the following
resolution was adopted by unanimous vote of all Members of the Council present:
RESOLUTION AUTHORIZING ACQUISITION FOR CONVEYANCE OF TAX -
FORFEITED LANDS
WHEREAS, it appears that Lot 17, Block 2, Del Monte Heights, and Lot 14,
Block 10, Westmoreland Park, have been forfeited to the State of Minnesota for
nonpayment of taxes and that both of said lots are in areas which have been
designated -by the Village Council and the Village Park Board as park areas, and
the Village has acquired and now owns lands in said Block 2, Del Monte Heights,
and Block 10, Westmoreland Park, which form part of said respective park areas,
and it is necessary and desirable in carrying out the program of the Village
in acquiring said blocks for park purposes that said lots be acquired from the
State of Minnesota as authorized by law, therefore,
BE IT RESOLVED by the Village Council of the Village of St. Louis Park
that -the Mayor and Clerk be authorized to execute an application to the County
Board and State Tax Commissioner for acquisition by the Village of said Lot 17,
Block 2, Del Monte Heights, and Lot 14, Block 10, Westmoreland Park, for public
park, purposes.
Report on Fire Inspections
The Fire Chief's report dated March 133 1952, on his inspection of all
schools and other public buildings was read and ordered filed.
March 17, 1952
Advertise for Bids for Street Department Equipment
On motion of Trustee Middleton, seconded by Trustee Bolmgren, the Clerk
was authorized to advertise for bids in the St. Louis Park Dispatch and Cons-
truction Bulletin, on the following equipment for the Street Department; bids to
be opened April 7, 1952, by unanimous vote of all Members of the Council present:
1,- New tandom drive motor grader with cab
Motor - Diesel 100 H.P. or more. Moldboard 121 - Scarifier - Power Steer -
6 smooth tread tires - V snow plow - snow wing - Minnesota Highway snow plow
lights - radiator shutter - hood sides - windshield wiper.
Alternate Bid - 1 Model 512 Adams motor grader to be considered as trade-in.
1 - New Tamping - leveling finisher for bituminous paving. Barber - Greene
or equal.
1 - New z yard capacity dragline mounted on crawlers. Hendrix type bucket to
be furnished. Both gasoline and Diesel power to be bid.
1 - New street flusher tank and pumping unit. Minimum capacity 1200 gallons.
Unit to be mounted on three ton, 135" wheelbase. Truck to be furnished by
Village.
1 - New 3 ton truck (Cab and chassis). Approximate wheelbase 135". Motor
337 cubic inch displacement (minimum). Two (2) speed rear axle. Dual rear
wheels. Six (6) 900 x 20 tires. 2 cab visors. 2 windhsield wipers. Cab
heater and directional signals.
1 - New sheepsfoot roller drum (Drum to be used with single Tampo sheepsfoot
drum now owned by Village) Extra frame and/or other items needed to make
this a tandem unit to be included in bid.
1 - New sand spreader - 5 cubic yard capacity, or more. (Weston, Hiway or equal).
Unit to be mounted on 195" wheel base. Chassis furnished by Village.
,,
1 - New low bed trailer. Minimum capacity 15 ton. Construction to be such as
to load equipment over rear of unit.
Minutes
The minutes of meeting held March 10, 1952 were read and approved as read.
Resolution
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
resolution was adopted by unanimous vote of all Members of the Council present
as follows: Mayor Hurd, yea; Clerk Justad, yea; Trustee Middleton, yea; Trustee
Bolmgren, yea:
RESOLUTION FOR ISSUANCE OF WATER SUPPLY SYSTEM
REVENUE BONDS
APRIL 15, 1952 Series
WHEREAS, the Village Council has determined that it is necessary in order
to secure a continued, sufficient and adequate water system for the inhabitants
of the Village of 'St. Louis Park to make improvements to the water supply system
of the Village indluding construction of a well and pump house and acquisition
of pumps, tanks and equipment together with land required in connection therewith,
all at an estimated cost in excess of Seventy-five Thousand Dollars ($75,000.00),
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 is authorized by the
provisions of the resolution of the Village Council of December 18, 1945, provid-
ing for the issuance thereof, to issue additional Water Supply System Revenue
Bonds of like tenor which will be a first lien on the net revenues of the Village
Water Supply System on a parity with the bonds issued pursuant to said resolution
of December 18, 1945, provided that the aggregate amount or principal and interest
maturing in any calendar year of all such bonds issued will not exceed two-thirds
of the net revenues of the 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 to be at least $50,000.00 for each of the
calendar years 1952 to 1969, both inclusive, and
220 March 17.,-1952
cc
15,
1955
Resolution for Issuance of Water Supply System
393 and 394
Revenue Bonds, April 15. 1952 Series - Cont'd.
C�
1956
2,000.00
WHEREAS, the Village has heretofore issued its Water Supply System Revenue
It
Bonds on October 1, 1947, in the aggregate sum of $140,000 (hereinafter referred
1957
to as "October 1, 1947 Series"), and on February 15, 1949, in the aggregate sum
397 and 398
of $125,000 (hereinafter referred to as "February 15, 1949 Series"), and is
"
authorized by the provisions of the resolutions of the Village Council providing
2,000.00
for issuance of said bonds,,to issue additional Water Supply System Revenue
"
Bonds of like tenor which will be a first lien on the net revenues of the
1959
Village Water Supply System on a parity with the bonds issued pursuant to said
401 and 402
resolutions, provided that the average net earnings of the Village Water Supply
"
System for the two calendar years next preceding issuance of any such.additional
2,000.00
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
1961
year when added to the aggregate amount of principal and interest of revenue bonds
406 to 410
then outstanding, and
"
TrHEREAS, the net revenues of the Village Water Supply System for the two
5,000.00
calendar years next preceding the date hereof were as follows:
"
1950 $55,307.40
1963
1951 33,302.49
416 to 420
Average - $44,304.94
"
therefore,
53000.00
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 $75,000..00 for the purpose of paying for the
improvements to the Village Water Supply System apove described, said bonds
being hereinafter sometimes referred to as "April 15, 1952 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 $75,000.00, said issue to consist of 75 bonds
numbered 391 to 465, both inclusive, each in denominations of $1,000 dated the
15th day of April, 1952, bearing interest at a rate to be determined on receipt
of bids for purchase of bonds, payable semi-annually on the 15th day of April
and the 15th day of October in each year and maturing serially as follows:
Nos, 391 and 392
April
15,
1955
$ 2,000.00
393 and 394
If
it
1956
2,000.00
395 and 396
It
it
1957
2,000.00
397 and 398
it
"
1958
2,000.00
399 and 400
"
"
1959
2,000.00
401 and 402
"
"
1960
2,000.00
403 to 405
"
"
1961
3,000.00
406 to 410
"
"
1962
5,000.00
411 to 4.15
"
"
1963
5,000.00
416 to 420
'_'
"
1964
53000.00
421 to 425
"
„
1965
5,000.00
426 to 435
1966
10,000.00
436 to 445
"
"
1967
10,000.00
446 to 455
1968
10,000.00
456 to 465
1969
103000.00
All bonds of this issue maturing after April 1, 1958 are subject to redemption,
in inverse numerical order, on said date and any interest payment thereafter upon
thirty days prior notice by mail of call for redemption to the bank at which the
bonds are payable and to the holder, if known. Bonds 399 to 455, inclusive, are
subject to redemption on payment of a premium of $20 and bonds Nos. 456 to 465,
inclusive, are subject to redemption at par and accrued interest. The Village
Clerk will maintain a register of the names and addresses of the holders of
bonds which are subject to redemption and all such holders must register their
names, addresses and bond numbers with the Village Clerk in order to be entitled
to receive mailed notice of such redemption.
2. That the aggregate amount of principal of said bonds, and interest
maturing thereon, in any calendar year as above specified, during which the
bonds issued hereunder shall mature, when added to the aggregate amount of
principal and interest of Water Supply System Revenue Bonds, January 15, 1946
Series, October 1, 1947 Series, and February 15, 1949 Series, will not exceed
two-thirds of the net earnings of the Water Supply System for each such calendar
March 17, 1952 221
Resolution for Issuance of Water Supply System
Revenue Bonds, April 15, 1952 -Series, Cont'd.
year, as officially estimated by the Village Engineer; and said sum of
$44,304.94, which is the average net earnings, as hereinabove defined, of the
water supply system for the calendar years 1950 and 1951 is more than one and
one quarter times the aggregate amount required to pay in any of the calendar
years 1952 to 1969, 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, on said October 1, 1947 Series, and on said February
15, 1949 Series, and on the April 15, 1952 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
APRIL 15, 1952
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 Sinking Fund
Account of the Water Revenue Fund of said Village on the Fifteenth day of April,
195 , the sum of $1,000.00, or if this bond is payable (pre) 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 April and the Fifteenth day of October in each year in accord-
ance with and upon presentation and surrender of the interest 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 $75,000.00 Water Supply System Revenue
Bonds of like date and tenor, except as to maturity, interest rate and call -
privileges, all issued by said Village for the purpose of financing purchase and
construction of Well No. 7 and land, pump house and equipment 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 thereunto 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 meaning of any constitutional
or statutory limitation, and on the taxing powers of the Village are not pledged
for payment of such principal and interest.
Bonds of this series which mature after April 15, 1958, shall be subject
to redemption by the Village on April 15, 1958, and on any interest payment date
thereafter at par and interest accrued to the date specified for redemption.
Notice shall be given by the Village to said Northwestern National Bank of Minne-
apolis, at least thirty days prior to said redemption, and by mail to the holder
(if known) of each bond called for redemption,
It is hereby certified and recited that all acts, conditions, and things
required -by the Constitution and Laws of the State 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 ixisting public water supply system in said Village
and that the proveeds 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 provide net revenues in 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, October 1, 1947 Series'and February 15, 1949 Series
Bonds do, and will, at all times constitute a first lien and charge on the net
222 March 17, 1952
cc
Resolution for Issuance of Water Supply System
Revenue Bonds, April 15, 1952 Series, Cont'd.
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 due in any cal-
endar year 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, Minne-
sota, by its Village Council has caused this bond to be executed in its behalf
by the signature of its Mayor, attested by its 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 Mayor and Clerk, all as of
April 15, 1952•
ATTEST: '
Village Clerk
No.
FORM OF COUPON
Mayor
On the 15th day of April, 195_, the Village of St. Louis Park, Hennepin
County, Minnesota, will pay to the bearer Dollars
at Northwestern National Bank of Minneapolis, 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 April 15, 19523
No. .
(Facsimile signature)
Mayor
Attest:
(Facsimile signature)
Village Clerk
Coupons maturing after April 15, 1958 shall also contain the words "Unless
the attached bond shall be redeemed by payment in full prior thereto".
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 govern-
mental authority on the property of said system, the income
derived therefrom, or the sales of water therefrom.
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March 17, 1952 223
Resolution for Issuance of Water Supply System
Revenue Bonds, April 15, 1952 Series, Cont'd,
4. D. Such sum as shall be required to maintain a cash reserve for operating
expense, not exceeding the estimated operating expense during the
next ninety days.
5. That such revenues shall be segragated by the Village Treasurer and
there shall be set apart from such net revenues and transferred each month to
the Sinking Fund Account which was 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 January 15, 1946 Series, October 1, 1947 Series,
February 15, 1949 Series Revenue Bonds and the Revenue Bonds issued under this
resolution, within twelve months next ensuing.
On April 15, 1953, and on the 15th day of April each year thereafter to
and including April 15, 1962, the sum of $12000.00 shall be transferred from the
net revenues of the Water Supply System remaining after transfer of required net
revenues to the sinking fund accounts which shall be used for no other purpose
than to pay principal and interest on Water Supply Revenue Bonds issued hereunder
at such times as the same shall become 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
$2,000.00 after April 15, 1955; or shall be less than $5,000.00 after April 15,
1961, or shall be less than $10,000.00 after April 15, 1965, forty per cent of
any surplus net revenues remaining after the transfer 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 and February 15, 1949 Series Revenue Bonds, shall be transferred
to a Bond Reserve Account for April 15, 1952 Series and accumulated therein
until the moneys in said account shall be equal to the respective minimum amounts
required above for the periods from April 15, 1955, April 15, 1961, and April 15,
1965.
6. That until all principal and interest due on said April 15, 1952 Series
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 Well No. 7, Pump House, and incidental
or necessary land and equipment in connection therewith, which
upon acquisition 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 as a revenue
producing utility, in good condition and will continuously operate
said system as a public convenience and utility, free from com-
petition with other like utility.
c. If any properties constituting capital assets of said plant shall
be sold or disposed of, it 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, bonds 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 bonds issued hereunder and the interest thereon.
d. That the Village will at all times maintain, impose and collect
rates and charges of 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 as required by Section 5 hereof.
e. That the bonds issued pursuant to this resolution, together with
said January 15, 1946 Series, October 1, 1947 Series and February 15,
1949 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
224 March 17, 1952
Resolution for Issuance of Water Supply System
Revenue Bonds, April 15, 1952 Series, Conttd.
6 e. issued hereunder may be issued hereafter, provided that the average net
revenues of the Village Water Supply System for the two calendar
years preceding issuance of any such additional bonds shall -not be
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 or other obligations which
will be payable out of the revenues of said water supply system,
or constitute a lien, or charge thereon unless said obligations
are subject 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 account 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 hydrants,
insured against loss or damage by 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 Idefault 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
collection of said bonds.
i. That it will cause all persons handling moneys received from the
said water supply system to be bonded in reasonable amounts for the
protection of the Village and the holders of the bonds.
J. It will cause proper books of record and account to be kept in which
true and correct entries shall be made of all water rates and charges
imposed or required to be imposed and of all collections and receipts
therefrom and the application thereof to the Water Revenue Fund and
and of all expenditures therefrom. Said books of account shall be
open to inspection and copying by any holder of bonds issued hereunder,
his agent or attorney, and the Clerk will, upon request, furnish
certified copies of any portion thereof upon receipt of a reasonable
fee for each copy. Said books of'account shall be audited at least
annually by the Public Examiner of competent public accountants and a
copy of the audit report will be furnished to the purchaser and each
such bond holder upon request.
7. In the event that any principal of or interest on any bond issued
hereunder shall become due and remain unpaid for more than thirty -days
or in event that the Village shall fail to keep and perform any of
the covenants hereunder, such nonpayment or failure shall constitute
a default hereunder and the holder or holders of a majority in
principal amount of outstanding bonds issued hereunder shall have
all rights granted by the laws of the State of Minnesota for the en-
forcement of payment of principal and interest on behalf of the
holders of all of -said bonds then outstanding and unpaid.
8. The Village Clerk and Treasurer are authorized and directed to furnish
to the purchaser of the bonds and to the attorneys examining the
proceedings and,furnishing a legal opinion thereon, certified copies
of all ordinances, resolutions and records of the Village relating
to said bonds or the right, power and authority of the Village by -its
Council to issue the same and such certified copies and certificates
shall be deemed representations of the Village as to all facts stated
therein.
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1.
March 17, 1952 225
Resolution for Issuance of Water Supply System
Revenue Bonds, April 15, 1952 Series, Cont Id.
9. The bonds shall be payable at any suitable bank designated by
the purchaser and the reasonable charges of the bank as paying
agent shall be paid by the Village and charged as an expense of
the Water Revenue Fund.
10. This resolution supercedes resolution relating to Issuance of
Water Supply System Revenue Bonds adopted February 18, 1952•
Fire and Auto Insurance Policies Approved
On motion of Trustee Bolmgren, seconded by Trustee Middleton, the following
fire and auto insurance policies were approved, and the Clerk was authorized to
sign co-insurance clauses for same, by unanimous vote of all Members of the Council
present:
4-1-52 to 57 Amer. Equitable #26-123758 Fire & Extended $40,700.00 $757.02
4-1-52 to 57 Northern #OC911416
4-1-52 to 57 Merchants #005573
3712-52 to 53 American Auto #K 205 7869
4-1-52 to 57 Amer. Equitable #123761
Fire & Extended 15,200.00
Fire & Extended 31,450.00
282.72
554.97
Auto Fleet Liab.
Property Damage Per Schedule
Material Damage 10/205000 2,991.91
Non Ovmed Autos
Fire & Extended $25,000.00 465.00
Total premiums -- $5,081.62
Meeting Adjourned
The meeting was adjourned by Mayor Hurd at 10:23 P. M.
C. L. HURD, Mayor
ATTEST:
OSDPH J
FAD Clerk
M