HomeMy WebLinkAbout1967/06/13 - ADMIN - Minutes - City Council - Regular MINUTES OF CITY COUNCIL MEETING
ST . LOUIS PARK , MINNESOTA
June 13 , 1967
GAS OR DE R
An adjourned meeting from June 5 , 1967 of the City Council was called to
order by ,Mayor Leonard Thiel at 2 : 00 p , m ,
ROLL CALL
The following Councilmen were present at roll call :
Richard Graves
James Heltzer
Frank Howard
Curtis Pearson
Leonard Thiel
Also present were the City Manager , City Attorney , Director of Finance
and Acting Secretary ,
PURCHASE OF $ 2 , 0001 000 GENERAL OBLIGATION IMPROVEMENT BONDS
OF 1967
Bids were received and opened from the following bidders :
1 . Continental Illinois National Bank and Trust Company of Chicago
L. F. Rothschild & Co . - LaSalle National Bank - Loewi & Co . , Incor -
porated - Carleton D. Beh Co .
Net Interest Cost - $ 582 , 229 . 17 - Average Interest Rate - 3 . 78685 -
Plus Additional Interest of 1 . 00 % per annum from 9 - 1 - 67 to 7 - 1 - 68 -
Premium - None ,
Z. Halsey , Stuart & Co . Inc .
Kidder , Peabody & Co . Incorporated - R . W . Pressprich & Co . -
Goodbody & Co . - Kenower , MacArthur & Co . - Shaughnessy & Company ,
Inc .
Net Interest Cost - $ 582 , 385 . 00 - Average Interest Rate - 3 . 78786 -
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Plus Additional Interest - None - Premium - $ 240 . 00 .
34 Harris
Trust and Savings Bank , Chicago
The Hartford National Bank and Trust Company - Bank of the
C "mrnonWealth - McDonald & Company .
Net Interest Cost - 8195
$ 587 , 250 . 00 - Average Interest Rate - 3 .
P116 Additional Interest of . 6010 per annum from 8 - 1 - 67 to 7 - i - 68 -
premiurn - None .
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Council Minutes - June 131 1967
& Trust Co • pont Municipal , Inc . -
4 . American National Bank Francis I . �
Barcus , Kindred & Companpaine , Webber , Jackson & Curtis -
John Nuveen & Cos , Inc *
E . J . Prescott & Company • 750 _ Average interest Rate - 3 . 8261 -
Net Interest Cost - $ 588s 279
11 - 13 - 67 to 7 _ 1 - 68 - Premium -
Plus Additional Interest of 2 . 00 % from
None .
5 , Allison - Williams CompanY � Minneapolis . Minneapolis - First
Kalman & Co . , Inc . - First National Bank ,
Dain , K Northwestern National Bank , Minneapolis -
National Bank , St . Paul -
Ho wood , Minneapolis - First of Michigan Corporation ,
Piper , Jaffray & P Minneapolis .
Detroit Michigan - Woodard - Elclood er ° eInterest Rate' - 3 . 858 % -
Net Interest Cost - $ 593 , 187e
50 Av g
Plus Additional Interest of 2 . 00 % from 1 - 1 - 68 to 7 . 1 - 68 - Premium -
None .
OR GENERAL OBLIGATION IMPROVE -
RESOLUTION ACCEPTING BID F
MENT BONDS OF 1967
RESOLUTION NO. 3306
an
It was moved by Councilman Howard , seconded by Councilm so utionHeltze Accept -
to waive reading and adopt Resolution No . 3306 entitled Re
ing Bid for General Obligation Improvement Bonds of 1967 . " Motion passed
by a five yea vote .
RESOLUTION FIXING THE FORM AND SPECIFICATIONS , DIRECTING
THEIR EXECUTION , AND PROVIDING FOR PAYMENT OF GENERAL
OBLIGATION IMPROVEMENT BONDS OF 1967 .
RESOLUTION NO , 3307
A motion was made by Councilman Howard , seconded by Councilman Heltzer ,
to waive reading and adopt Resolution No . 3307 entitled " Resolution Fixing
the Form and Specifications , Directing their Execution , and Providing for
Payment of General Obligation Improvement Bonds of 1967 . " Motion passed
by a five yea vote .
RESOLUTION AUTHORIZING CERTIFICATION OF BOND OPINION .
RESOLUTION NO . 3308
A motion was made by Councilman Howard , seconded by Councilman Hletzer ,
to waive reading and adopt Resolution entitled " Resolution Authorizing Certi -
fication of Bond Opinion . it Motion passed by a five yea vote .
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cil Minute s - June 13 , 1967
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RESOLUTION FIXING THE DENOMINATION OF $ 5 , 000 FOR GENERAL
� LIGATIpN IMPROVEMENT BONDS OF 1967 .
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RESOLUTION NO, 3309
It was moved by Councilman Howard , seconded by Councilman
Waive reading and adopt Resolution No . 3309 entitled H.eltzer , to '
I
• 000 for General Obligation Im Improvement
Fixing the
Denomination of $ 5 , p ment Bonds of
passed by a five yea vote . 1967 .
Motion p
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ADJOURNMENT I
On motion of Councilman Howard , seconded by Councilman Graves the
meeting was adjourned at 2 ; 30 P . m . by a five yea vote .
f /
L nard J . Thiel , Mayor
Att st :
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Alice Carlson , Acting Secretary
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