HomeMy WebLinkAbout1959/06/30 - ADMIN - Minutes - City Council - Regular 40.1
MINUTES OF ADJOUR4IED COUNCIL MEETING
ST. LOUIS PARK, MINNESOTA
JUNE 30, 1959
IIIThe adjourned meeting of June 29th, 1959 of the City Council was called
to order by Mayor Herbert P. Lefler at 2:07 p. m.
The following Councilmen were present: Councilmen Davis, Ehrenberg,
Owen, Wolfe and Mayor Lefler.
Mayor Lefler explained that the purpose of the meeting was to receive
and open bids for the $1,350,000.00 Improvement Bonds & Park Bonds.
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C..!: One bid was received from Allison - Williams Company and Associates who
CD were:
Allison-Williams Company Northwestern National Bank
John Nuveen & Company First National Bank - Mpls.
Barcus, Kibdred & Company R, First National Bank - St. Paul
J. M. Dain & Company American National Bank
Juran & Moody fMannheimer-Egan, Inc.
Kalman & Company, Inc. E. J. Prescott & Company
Paine, Webber, Jackson & Curtis Wachob Bender Corporation
Piper, Jaffray & Hopwood Caldwell Phillips Co.
Harold E. Wood & Company
III with the following interest rates bid:
4% on Bonds to mature - 1961 - 1968 inclusive
4.30% on Bonds to mature - 1969 - 1975 inclusive
4.40% on Bonds to mature - 1976 - 1981 inclusive,
all bonds to carry extra interest at the rate of 1.50% per annum for the period
February 1, 1960 to August 1st, 1961. Effective rate being 4.49274%.
A motion was made by Councilman Davis, seconded by Councilman Owen, that
all bids be rejected and the Certified Check received be returned to the
Bidder. Motion Passed by a five yea vote.
A motion was made by Councilman Davis, seconded by Councilman Wolfe, to
waive reading and adopt Resolution No. 962 to readvertise for Bids for the
Improvement Bonds and Park Bonds. Motion passed by a-five yea vote.
_ On motion of Councilman Davis, seconded by Councilor. ' Wolfe, the meeting
was adjourned at 2:20 p. m. Motion passed b ' a five yea ote1
. 1 ‘ :
H , LL
-r:-rt P. Lef er, Mayo
Attest:
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osep, Just. •, ecretary