RES 1962-193 - 00012600212
RESOLUTION NO. 193 -1962
RESOLUTION CALLING FOR BIDS FOR $150,000 PARK BONDS
WHEREAS, at a special election duly called and held on the 4th day
of October, 1962, the pro osition of borrowing, morey and issuing
$150,000 General obligation bonds for park purposes carried by a vote
of 824 to 254.
BE IT RESOLVED By the City Council of the City of Fridley,
Minnesota, as follows:
It is necessary and expedient for the City to borrow money
and issue its general- obligation park bonds in the amount of w150,000
and this Council shall meet on 14onday, December 17, 1962 at 8:00
o'clock P.Y., to receive and consider sealed bids for the purchase
of said bonds and for such other bonds as the Council may determine,
and the Clerk is authorized and directed to cause notice of said
meeting and the purpose thereof in the o*fi_cial newspaper and in
Commercial West at least once not later than 10 days "efore said
meeting,.
PASSED AND ADOPTED THIS 19TH DAY OF NOVEIVBER, 1962, BY THE CITY COUNCIL
OF THE CITY OF FRIDLEY.
MAYOR - T. E. Greig
ATTEST:
qa - C��
CITY C'ERK - varvin U. �runsell
NOTICE OF SAFE
$150,000 PARK BONDS
$990,000 IMPROVEh;.NT BONDS
CITY OF FRIDLEY, MINNESOTA
NOTICE IS HEREBY GIVEN that the City Oounci� of the City of Fridley, Anoka
County, Minnesota, will meet at the City Hall in said City on Monday, Decem-
ber 17, 1962, at 8:00 o'clock P.V., CST, for the purpose of receiving, opening
and considering sealed bids for and awarding the sale of 4150,000 Park Bonds
and �A90,000 Improvement Bonds. The bonds of both issues will. be general
obligations rf the City of Fridley, will be issued in negotiable coupon form,
in denominations of ',000 each or, at the option of the bidder, in w5,000
denominations, will be dated as of January 1, 1963, will bear interest at a
rate or rates to be designated by the successful bider subject to the lir -ita-
tions stated below, payable July 1, 1963 and semiannually thereafter on Janu-
ary 1 and July 1 in each ,year, and will mature serially on January 1 in the
years and amounts as follows:
$150.000 Park Bonds $990.000 Improvement Bonds
1964 $15,000 1975 45,000
1965 �1 5,000 1965 30,000 1976 30,000
1966 101000 1966 80,000 1977 301000
1967 10,000 1967 801000 1978 30,000
1968 15,000 1968 80,000 1979 30,000
1969 15,000 1969 85,000 1980 35,000
1970 15,000 1970 85,000 1981 35,000
1971 15,000 1971 60,000 1982 35,000
1972 209000 1972 60,000 1983 35,000
1973 209000 1973 60,000
1974 25,000 1974 50,000
All bonds maturing in 1975 through 1983 shall be subject to redemption
and prepayment, at the option of the Citv, on January 1, 1.974 and any interest
payment date thereofter in inverse nus.erical order, at a price of 102%
of par, plus accrued interest. Principal and interest will be made payable
at a suitable barking institution as designated by the successful bidder
within 48 hours after the time of the sale. The City will furnish and del-
iver anywhere in the Continental United States, without cost and within 45
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days after the sale, the printed and executed bonds, and the cnstorary no
litigation certificate and the unqualified approving legal opinion of
Messrs. Howard, Peterson, LeFevere, Lefler and Hamilton of Minneapolis,
Minnesota.
RESOLUTION NO. 194 -1962
A RESOLUTION RELATING TO HOLDING A PU^LIC HEAIIING ON A PROPOSED UNIFORM
GAS FR°nNCHISE.
47HEREAS, the City of Fridley is a member of the Suburban Gas
Agency, and
WHEREAS, the Suburban Gas Agency for and in behalf of the City
of Fridley together w'th other like suburban municinalities has carried
on certain negotiations with the Minneapolis Gas Company relative to a
new franchise, and
WHEREAS, under and by the Charter of the City of Fridley, it is
required that a public hearing be held by the Council relative to any
proposed franchise before an ordinance adopting such franchise can be
enacted,
NOW, VlE3EFORE, BE IT RESOLVED, by the Council of the City of
' Fridley, as follows:
Section 1. That pursuant to Chapter 10 of the Charter of the City of
Fridley, and in particular Section 10.02 and 10.09 of said
Charter, it is hereby found and determined that a public hearing is
necessary in order that the Council may give consideration to the new
and proposed Uniform Suburban Gas Franchise to be effected between the
Minneapolis Gas Company and the City of Fridley.
Section 2. That accordingly a public hearing shall be held by the
Council on the 7th day of January, 1963 at 8:00 o'clock
P.M. in the (Iouncil Cha*nbers in the City of Fridley at a regular meeting
thereof. That at such meeting all persons for and against such proposed
franchise may and shall be heard. Notice of such public hearing shall
be given by published notice at least once 9_n the official newspaper of
the City not less than 20 days prior to the date of such public hearing.
Sealed bids marked "Bid for $1,140,000 bonds" may be mailed or delivered
to the undersigned City Manager and must be received at his office before
the time of said reeting. Each bid must le uncondiV onal and accompanied
by a cashier's or certified check or 'rank draft in an amount not less
tan $22,800, payable to the City Treasurer, to be retained by the City
as lequidated damages if the bid is accepted and the bidder shall. fail
to comnly therewith. The bid offering the lowest net interest cost will
be deemed the most favorable, computing. interest in dollars to the matur-
ity dates of the bonds and deducting any premium offered. One basic
rate of interest from the date of issue to maturity shall be specified
for all bonds having a common maturity date, but different rates may be
specified for not more than four (4) groups of bonds having the same or
consecutive maturity dates. Bids may provide for additional interest to be
represented by supplemental coupons on any or all bonus for any portion of
their term but the total amount of such supplemental coupons shall- not
exceed +x17,100 and the ag;regate rate of interest payable on any bond for
any period may not exceed 6,` per annum. No oral bid and no bid of less than
the par value of both issues plus accrued interest thereon will be con-
sidered, and the Council reserves the right to reject any and all bids,
to waive any informality in any bid and to adjourn the sale if deemed
expedient.
Dated: .November 19, 1962
BY ORDER. OF THE CITY C';UNCIL
/s/ Earl P1 Wagner, City Manager
City of Fridley, ainnesota
6431 University Avenue
Minneapolis 21, Minnesota
Further information may be obtained from and bids may be delivered to:
EHLERS - MANN 2, ASSOCIATES, INC., Fiscal Consultants to the City; 807
Title Insurance Building, 400 Second Avenue South, Minneapolis 1, Minn-
esota. Telephone FEderal 9 -8291.
RESOLUTION NO. 194 -1962
A RESOLUTION RELATING TO HOLDING A PU^LIC HEAIIING ON A PROPOSED UNIFORM
GAS FR°nNCHISE.
47HEREAS, the City of Fridley is a member of the Suburban Gas
Agency, and
WHEREAS, the Suburban Gas Agency for and in behalf of the City
of Fridley together w'th other like suburban municinalities has carried
on certain negotiations with the Minneapolis Gas Company relative to a
new franchise, and
WHEREAS, under and by the Charter of the City of Fridley, it is
required that a public hearing be held by the Council relative to any
proposed franchise before an ordinance adopting such franchise can be
enacted,
NOW, VlE3EFORE, BE IT RESOLVED, by the Council of the City of
' Fridley, as follows:
Section 1. That pursuant to Chapter 10 of the Charter of the City of
Fridley, and in particular Section 10.02 and 10.09 of said
Charter, it is hereby found and determined that a public hearing is
necessary in order that the Council may give consideration to the new
and proposed Uniform Suburban Gas Franchise to be effected between the
Minneapolis Gas Company and the City of Fridley.
Section 2. That accordingly a public hearing shall be held by the
Council on the 7th day of January, 1963 at 8:00 o'clock
P.M. in the (Iouncil Cha*nbers in the City of Fridley at a regular meeting
thereof. That at such meeting all persons for and against such proposed
franchise may and shall be heard. Notice of such public hearing shall
be given by published notice at least once 9_n the official newspaper of
the City not less than 20 days prior to the date of such public hearing.