1972 Certificate as to Organization and Financial Condition of the City STATE OF MINNESOTA ) CERTIFICATE AS TO ORGANIZATION
COUNTY(M) OF ANOKA ) SS. AND FINANCIAL CONDITION OF THE
i
CITY OF FRIDLEY ) CITY OF FRIDLEY
We, the undersigned , being the duly qualified and acting Recording Officer and Treas-
urer of the City of Fridley, Minnesota , herein referred to as the Municipality,
in the above named County and State do hereby certify as follows:
(1 ) Said Municipality was organized on or about 9124157 and has ever
since continued in existence as a duly organized City of the 2nd
class of the State of Minnesota and is now governed by the general laws relating
to cities (and by its city charter dated Sept. 24 , 1957 , and
amendments thereto) , and an impression of the corporate seal is affixed opposite our
signatures hereon.
(2) The population of said Municipality according to the 1970 census was 29,233 ,
and the estimated population at present is 30,000.
(3) Said Municipality comprises a territory of approximately 6,400 acres and has
9 voting (xwx,& (precincts) . (If this certificate is preliminary to
issuance of voted bonds, attach description of election precincts and polling places. )
(3.1 ) Other municipal or public corporations having power to levy taxes on part or all
the taxable valuation within this municipality are:
Anoka County
Independent School Districts # 14, 11 , 13, 16
NorthSuburban Hospi .al District
(4) The following are all of the officers and members of the Council of said Munici-
pality and the dates on which their respective terms of office expire:
Name Office Term Expires
Frank G. Liebl Mayor December 31 , 1974
Marvin Brunsell Clerk - Treasurer Indefinite
Gerald R. Davis City Manager Indefinite
Timothy F. Breider Councilman December 31 , 1972
Robert E. Kelshaw Councilman Resigned
Donald R. Mittelstadt Councilman December 31 , 1972
Everett F. Utter Councilman December 31 , 1974
Virgil C. Herrick Attorney Indefinite
(5) The Fridley Sun is the official newspaper of the
Municipality and is published on r1 ay of each week at Edina,
Minnesota If no newspaper is published in said Municipality,
so state.
a_
(6) Pursuant to the customs (charter) and by-laws of said Aunicipality, regular meet-
ings of the Council are held at the City Hall in said Municipality on
1st & 3rd Mondays of each month at 7.30 o'clock p .M. ; and
special meetings may be called at any time on (xpA) written notice by the Clerk to
all Councilmen 9 12 (xleyrx) (hours) in advance of such meetings.
(7) There is no litigation threatened or pending questioning the organization or bound-
aries of said Municipality nor the right of any of the above named officers to
their respective offices except None
(8) We further certify that, according to the records of said Municipality and as
known to us to be correct, the entire indebtedness of the Municipality is as
follows:
(8. 1) Bonds, certificates of Indebtedness, Warrants and similar obligations having
definite or fixed maturity dates:
EXAMPLE
DATE OF INTEREST ANNUAL MATURITY AMOUNT NOW
ISSUE PURPOSE RATES AMOUNT DATE OUTSTANDING
2/1/68 BUILDING 3.60% 70/72 10M 2-1-70/71
3.80% 73/82 20M 2-1-72/82 $ 2309000
See attached sheet for G. 0, debt
REVENUE DEBT: (as of 5/12/72)
1956 Water Utility 4.50% 72/76 15M 9-1-72/76 $75,000
(8.2) The Municipality has funds on hand, including investments , available for and
appropriated to the payment of principal and interest on items shown in Part 8. 1
hereof, and has in process of collection current taxes levied for such purposes, as
follows:
DESCRIPTION OF OBLIGATION
DATE OF AMOUNT ON CURRENT
ISSUE PURPOSE HAND UNCOLLECTED TAX
1956 Water Utility $29,413.85 None
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GENERAL OBLIGATION BONDS (As of 5/12/72)
Date of Interest Annual Maturity Amount -Now
Issue Purpose Rates Amount Date Outstanding
5/1/54 Sanitary Sewer 3.00% 73/74 4M 5/l/73
2M 5/1/74 $ 6 ,000
8/1/54 Water and Sewer 4.00% 72/74 20M 2/1/73/74
20M 8/1/72/74 100 ,000
11/1/54 Water and Sewer 4.00% 73/74 20M 2/1/73/74 40,000
5/1/55 Water and Sewer 3.60% 72/75 20M 2/1/73/75
20M 8/1/72/75 140,000
10/1/55 Water and Sewer 3.60% 72/75 15M 8/l/72
20M 2/1/73/75
20M 8/1/73/75 135,000
8/1/56 Water and Sewer 4.75% 72/76 30M 8/1/72/74
50M 8/1/75
55M 8/1/76 195,000
10/1/60 Water and Sewer 4.10% 71/74 80M 1/1/73,75/78,80
75M l/l/74/79 ,82
70M 1/1/81 775,000
10/1/61 Water and Sewer 4.10% 73 110M 1/1/73 110,000
5/1/62 Improvement 3.50% 73 5M 2/l/74,76,
3.80% 74/82 78,80/82
10M 2/1/73,7531
77,79 70,000
5/l/62 Park 3.40% 73 20M 2/1/73 20,000
1/1/63 Park 3.50% 73/74 20M 1/1/73
25M 1/1/74 45,000
l/l/63 Improvement 3.50% 73/74 60M 1/1/73
3.70% 75/77 50M 1/1/74
3.80% 78/83 45M 1/1/75
30M 1/1/76/79
35M 1/1/80/83 415,000
2/1/64 Refunding 3.30% 73/75 105M 2/1/73/79
3.40% 76/80 40M 2/1/80 775,000
5/1/65 Sp. Ass'mt. Fund 3.20% 73/75 30M 2/1/73/80
3.30% 76/78 25M 1/1/81/85
3.40% 79/81 20M 2/1/86
3.50% 82/86 385,000
5/1/65 Civic Center 3.20% 73/75 20M 2/1/73
3.30% 76/78 25M 2/1/74/78
3.40% 79/81 30M 2/1/79/82
3.50% 82/86 35M 2/1/83/86 405,000
5/1/65 Waterworks 3.20% 73/75 35M 2/l/74,76
3.30% 76/78 20M 2/1/73,75 ,88
3.40% 79/81 50M 2/1/77/87 680,000
3.50% 82/88
GENERAL OBLIGATION BONDS OUTSTANDING(As of 5/12/72)
Date of Interest Annual Maturity Amount Now
Issue Purpose Rates Amount Date Outstanding
10/1/67 Improvement 4.20% 73/77 150M 2/1/73/75
4.40% 78/82 140M 2/1/76/77
4.50% 83/88 130M 2/1/78
40M 2/1/79/82
30M 2/1/83/87
20M 2/1/88 $1 ,190,000
7/1/70 Special Ass 'mt 6.50% 73/80 95M 1/1/73/79
6.75% 81/82 85M 1/1/80
6.90% 83/84 45M 1/1/81/84
7.00% 85/91 40M 1/1/85/89
15M 1/1/90/91 1 ,160,000
7/1/70 Waterworks 6.50% 73/80 35M 1/1/73
6.75% 81/82 40M 1/1/74/75
45M 1/1/76/77,82
50M 1/1/78/79
55M 1/1/80/81 460,000
$7,106,000
(8. 3) Of the obligations -listed in Part 8.1 , the following are payable wholly or
partly from special assessments:
FAITH, CREDIT AND
DATE OF AMOUNT OF TAXING POWERS PLEDGED
ISSUE PURPOSE ISSUE ("YES" OR "NO1.)
See attached sheet.
(8.4) Of the obligations listed in part 8. 1 hereof, the 'following were issued to con-
struct or improve a public utility or convenience from which revenue is or may
be derived:
FAITH, CREDIT AND
DATE OF TAXING POWERS PLEDGED
ISSUE PURPOSE AMOUNT REVENUE SOURCE ("YES" OR "NO")
1956 Water Utility $ 75,000 Public Utility Fund No
5/1/65 Waterworks 680,000 Public Utility Fund Yes
7/1/70 Waterworks 460,000 Public Utility Fund Yes
NOTE: If the same issue is payable partly from revenue and from special assessments,
include the issue under both 8.3 and 8.4.
(8.5) The Municipality has funds on hand , including investments, in the following
operating funds, and has outstanding "warrants or orders" drawn on such funds
payable upon presentation or when sufficient moneys are available in such funds: (Use
Treasurer's Balance)
NAME OF FUND CASH ON HAND OUTSTANDING ORDERS
(See attached sheet)
(Attach copy of receipts and disbursements statement, last three years. )
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(8.3) Payable from special assessments:
Faith , Credit and
Date of Taxing Powers Pledged
Issue Pur ose Amount YES or NO
5/1/54 Sanitary Sewer $ 6,000 Yes
8/1/54 Water and Sewer 100,000 Yes
11/1/54 Water and Sewer 40,000 Yes
5/1/55 Water and Sewer 140,000 Yes
10/1/55 Water and Sewer 135,000 Yes
8/1/56 Water and Sewer 195,000 Yes
10/l/60
and
10/19/69 Water and Sewer 7.75,000 Yes
10/1/61 Water and Sewer 110,000 Yes
5/1/62 Improvement 70,000 Yes
J2/1/63 Im?rovement 415,000. Yes
/1/64 Re unding 775,000 Yes
5/1/65 Special Assessment 385,000 Yes
8/1/67 Improvement 1.,190,000 Yes
7/1/70 Special Assessment 1.,160,000, Yes
$5,496,000
*Refunded bonds
RECEIPTS AND DISBURSEMENTS
(YEAR ENDED DECEMBER 31, 1971)
Cash Balance Cash Balance
Fund 1/1/71 Receipts Disbursements 12/31/71
General fund $ 35,184 $ 4,408,658 $ 4,439,043 $ 4,799
Special revenue funds (19,255) 647,135 624,239 3,641
Investment fund (70,262) 3,683,246 3,691,887 (78,903)*
Special assessment funds 226,548 4,507,578 4,754,011 (19,885)*
General debt service funds 74,120 344,840 388,704 30,256
Liquor fund 22,567 1,697,179 1,709,505 10,241
Municipal building
reserve bond fund 26,544 28,083 54,627
Water and sewer
revenue bond fund (335,652) 2,255,903 1,898,303 21,948
Trust and agency funds 25,553 146,830 155,917 16,466
Totals 14,653 $17,719,452 $17,716,236 $(11,437)**
*These deficits will be restored from the proceeds of this offering.
**Does not include investments.
FUNDS ON HAND
FOR THE CITY OF F R I D L E Y
SAS OF JUNE 30, 1972)
Revenue bonds, sinking $ 30,679
Special assessment bonds, sinking 1,492,103
Water bonds, general obligation 165,496
General fund 316,261
State aid fund 238,870
Public utility, operating 521,913
Municipal liquor, operating 116,453
Special assessment, construction 496,684
Other 6_
Total $3,447,418*
*Includes investments.
In addition to the above funds, the City has general fixed
assets of $18,525,853,-of which $15,638,438 is in improve-
ments other than buildings.
r1
(8.6) The Municipality has now outstanding money obligations or indebtedness except
those listed in Parts 8. 1 to 8.5 hereof except (give description and amounts,
if any) :
DESCRIPTION AMOUNT
None
NOTE: Under 8.6 list any unpaid special assessments, judgments , contractual obliga-
tions (other than improvements for which this certificate is made) , etc. , for
which the municipality is liable.
(8.7) The Municipality has on hand cash or securities not included under parts 8.2
or 8.5 hereof, as follows:
DESCRIPTION AMOUNT
None
NOTE: It is important that all funds and obligations be stated in this certificate.
(9) Revenue producing conveniences: net revenues and net worth
(9. 1 ) Liquor dispensary (off sale) (on and off sale) earnings have been as follows
(last three years) :
19 69 1970 19 71
Gross Receipts $ 1 ,464,233 $ 1 ,534.762 $ 1 ,450,359
Net Revenues $ 225,180 $ 219,943 $ 214,434
The Municipality (owns) (rents) 4 store building (s) . The net worth of the liquor
dispensary(ies) is $ 604,398.13 including $ 138,539 cash and $253,010
inventory as of March 31 , 19 72
(9.2) The municipal waterworks system, serving % of the developed area, has
approximately patrons and has had net earnings as follows:
1969 1970 1971
Gross Receipts $ $ $
Net Revenues $ $ $
The system (has) (has not) an adequate supply system and its gallon
elevated storage tank(s) (is) (are) in (good) (poor) repair.
water and
(9.3) A municipal/sewer system serves 96 % of the developed area of the municipal -
ity and about 6,187 patrons. Net earnings of the system have been:
19rci 1970 1971
Gross Receipts $ 640,560 $ 628,519 $ 740,489
Net Revenues $T9 , $ 247,UUI $
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*Note: Sewer rates were increased as of 1/1/72
The municipality (has) (ha^ot) an adequate sewage treatmE1*1� plant.
(9.4) A municipally owned electric distribution (and power generating) system serves
patrons in the municipality and patrons outside the munici-
pality. The net earnings of the system have been:
1969 19 70 19 71
Gross Receipts $ $ $
Net Revenues $ $ $
The net worth of the municipality's utilities is $ of which $
is in fixed assets.
Also list on separate sheet, three years' gross earnings and net revenues (or losses)
on any other facilities from which revenue is derived; i .e. parking facilities,
hospital , nursing home, etc.
(10) To our knowledge, information and belief, the Municipality has never defaulted
in the payment of any of its obligations.
WITNESS Our hands officially and the official seal of said City this
19th day of May , 19 72 .
City t Clerk-Treasurer
' ty Manager
(SEAL)
(Note supplemental information next page)
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SUPPLEMENTAL INFORMATION 10 THE GENERAL CERTIFICATE
City OF Fridley , Minnesota
Dated :
1 . It is estimated that the assessor's ratio of assessment to market value is
2. Other are:
Estimated Value
re equipment (describe briefly) $ 169,196.57
Net worth of Public Utility Fund 2,583,112.73
Police cars 50,444.29
Net worth of Liquor Fund 604,398.13
Street equipment (describe briefly) 205,372.23
Other equipment 110,379.54
Municipal buildings (describe)-Civic Center, Equipment
Garage and Park Buildings 865,553.66
puw Office Furnishing and Equipment 153,609.46
Other
Land 586,263.20
Water & Sewer Lines 11 ,358,485.68 j
Street Improvements 4,070,839.96
3. The 10 largest taxpayers in the)Municipality and their assessed valuations, real
and personal , are:
Assessed Valuation*
Taxpayer Market Value Real & Personal
1 • Onan $11 ,319,200 $4,867,256
2• Target Stores 5,247,800 2,256,554
3• Filisters 3,631 ,900 1 ,452,760
4. LaMaur 3,443,800 1 ,480,834
5. Medtronics 3,340,600 1 ,436,458
6. Minnesota Linseed 3,031 ,800 1 ,303,674
7• F,.M.C. 2,561 ,600 1 ,101 ,488
8. Holiday Village 2,113,700 908,891
9. Midland Coop 1 ,947,800 837,554
10. Wickes Furniture 1 ,901 ,000 817,430
i
TOTAL $38,539,200 $16,462,899
i
*State amount if known. Otherwise list what you believe to be the 10 largest taxpayers
to aid in getting valuations from the County Auditor.
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i
(Please strike inapplicable words or clauses and fill all blanks . Show estimated
figures by adding the word "est." . If "none" , so state.)
STATE OF MINNESOTA COUNTY AUDITOR'S CERTIFICATE AS TO
TAXES AND WAKE PROPERTY I.;
COUNTY OF ANOKA CITY OF FRIDLEY, MINNESOTA
(Herein called the "Taxing District")
I , the undersigned, County Auditor of the above County, certify that
the above named duly organized and existing taxing district is (wholly) (PXXXXAX
in said County, and that:
(1) The adjusted market value of all taxable property in said taxing dis-
trict and taxed in this County, as finally equalized, and the assessed
valuation' thereof (being the value against which the mill rate of taxes was com-
puted and extended) , according to the assessment for taxes for the year 1971
(collectible in 1972) , were as follows:
Adjusted Market Value Assessed Valuation
Real Estate $ 69,941,515 $ 24,721,145
Personal Property 11,313,913 4,080,720
TOTAL $ 81,255,428 $ 28,801,865
(1 .1) The ratio of adjusted market value of taxable real or personal property
to the market,value of all such property, as most recently ascertained
and reported to me, in accordance with M.S. 272.03, Subdivisions 8 and 12 and
Sections 273.11 and 276.04, is 33 1/3 �.
(1 .2) Of the assessed valuation (real and personal) $ - 0 - is agricul-
tural , $ 13,789,781 is residential , and $ 14,88628 is commercial or
industrial . (excludes public utilities)
(2) The amounts of taxes levied in and for and by the taxing district
above named in the years given below, and the collections thereof, and
the abatements and cancellations thereof are as follows: (Show only taxes levied
on property for the district including amounts levied for state loans, i .e. , if
school district, show only school taxes. Eliminate cents .)
1967/68 1968/69 1969/70 1970/71 1971/72
1,067,514
Amount of levy $ 765,952 $ 902,824 $ 4-,G46-,3-23$ 1,132,244.$ 1,142,709
Total collected fol- 879,905
lowing year $ 747,043 $ 45;,576--, $ 1,045,293$ 1,059,376 ' Current
Total thereof col-
lected to date $ 758,616 $ 889,338 $ 1,053,717 $ 1,109,638 In process
Total abatements & r' of
cancellations to
date $ (2,187 $ (3,338) $ (1,642) $ (203) Collection
Of taxes levied in and for said taxing disthict in 1966 and prior years , the
amount unpaid as of this date is $ 2,623.38 None of the above collection
figures include penalties and interest on delinquent taxes.
` f
y.
(3) The mill rates for said taxing district have been as follows:
1968/69 196970 1970171 1971/72
- Mills Mil S Mills Mills
71.77 68.99
COUNTY OF ANOKA _ 36 92:31 67.78 73.59
CITY OF FRIDLEY _43.60 45.30 42.18 39.58
NORTH SUBURBAN HOSPITAL DISTRICT •57 .80 .62 .59
OF;' Metro Sewer Board 1.13 .82 No Levy
Mosquito Control .80 .74 .72 .69
OF Metro Council .48 .67 .71 .79
OF Metro Transit -- -- -- 3.53
SCHOOL DISTRICT NO. 14 , AG,
NON--AG. 252.96 287.42 273.11 160.27
SCHOOL DISTRICT NO. 16 , AG. 219.28 222.72 192.43 150.60
NON-AG. 244.28 247.72 217.43 175.60
SCHOOL DISTRICT NO. 11 AG.
NON-AG. 265.66 297.66 257.09 173.68
SCHOOL DISTRICT NO. 13, AG.
NON-AG. 1.80.74 209 . 33 211.08 162.66
(4) Listed below areall public bodies (except the State) now having bonded
indebtedness payable by taxation of any property included in paragraph 1
hereof and the amounts thereof shown by the records and files in my office.
Bonded
1971 Assessed Valuation Indebtedness
Amount In
Total Real Taxing District
& Personal Named Above
COUNTY OF ANOKA $ 107,754,070 $ 28,801,865 $ 1,035,000
CITY OF, FRIDLEY $ 28,801,865 $ 28,801,865 $ 9,655,000
NORTH SUBURBAN HOSPITAL DISTRICT $ 44,291,087 $ 28,801,865 $ 14,490,000
Of $ $ $
OF $ $
OF $ $ $
SCHOOL DISTRICT NO. 11 $ 44,010,863 $ 897,675 $45,200,000
SCHOOL DISTRICT NO. 13 $ 23,748,136 $ 6,684,921 $12,125,000
SCHOOL DISTRICT NO. 14 $ 14,301,841 $ 14,301,841 $ 6,269,000
SCHOOL DISTRICT NO. 16 $ 13,617,052 $ 6,917,428 $14,783,950
WITNESS My hand and official seal this 17th day of May 1972,
(SEAL)
COUNTY AUDITOR
(See addenda, next page)
t
ADDENDA:
The assessed Valuations of taxing d;St ici for the past 1`iVe years have been as
fol 1 ows
Year Assessed Valuation
1971 (Collectible in 1972 ) $ 28,801,865
1970 (Collectible in 1971 ) $ 27,608,321
1969 (Collectible in 1970) $_22,435,393
1968 (Collectible in 1969 ) $_ 19,716,528
19167 (Collectible in 1968 ) $
*Includes "exempt" property under 1967 Property Tax Relief Law
List 10 largest taxpayers in this taxing district (may be utilities , stores , fac-
tories , fa-rms , homes , etc. ) and their assessed valuations (real and personal
property) .
Type of Property'
(if known) (if Assessed Value,
Name of Owner farm, list acres) Real & Personal**
1.
2.
3.
4• NOT AVAILABLE
5.
6.
7.
8.
10.
*i .e. , examples: retail store, apartments, milk processing plant, plastics manufac-
turing plant, farm (360 acres) , etc.
**Include personal property not exempt under the 1967 Property Tax Relief Law.
a
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF FRIDLEY
STATEMENT FOR ISSUANCE OF
�._. SPECIAL ASSESSMENT FUND BONDS
TO THE CITY COUNCIL:
An analysis of the special assessment fund shows that
the following amounts are required to finance local improvements
that are to be paid, in whole or in part, from special assessments
against benefited property:
PROJECT.
1969 Street $ 300,000.00
1970 Street 385,000.00
1971 Street 270,000.00
Sewer, plater & Storm Sewer 7#100 50,000.00
Water, Sewer & Storm Sewer #103 340,000.00
Locke Lake Dam #104 5,000.00
Sewer, Water & Storm Sewer #105 90,000.00
Sewer, Water & Storm Sewer #102 655,000.00
$2,095,000.00
The following is a summary of the financial requirements
,for issuance of bonds under Section 7.12 (d) of the home rule
charter:
1. All assessments levied and uncollected
$1 ,013,439.95
2. Assessable cost of work in progress
1 ,130,000.00
. 3. Cash reserve for working capital as
previously determined by ordinance None
4. Amount of bonds and certificates now
outstanding 1 ,605,000.00
4. (a) Cash on hand in Principal& Interest Account
5. Amount of proposed issue 11 ,491 .16
2,095,000.00
It is requested that the council authorize the issuance
and sale of such bonds.
Dated: July 24, 1972
City Manager
City of Fridley, _Minnesota
EXTRACT OF MINUTES OF MEETING OF THE
COUNCIL OF THE CITY OF FRIDLEY
ANOKA COUNTY, STATE OF MINNESOTA
Pursuant to due call and notice thereof, a special
meeting of the Council of the City of Fridley, Minnesota, was
duly held at the Council Chambers in said city on Monday, the
24th day of July 1972, at 10:00 O`clock P.M.
The following members were present: Mayor Liebl and
Councilmen Breider, Mittelstadt and Utter;
and the following were absent: None (one vacancy on Council);
Councilman Breider introduced the following
resolution in writing and moved its adoption. Said resolution
was read in full as follows:
A RESOLUTION PROVIDING FOR THE
ISSUANCE AND SALE OF $2 ,135 , 000
SPECIAL ASSESSMENT FUND BONDS
WHEREAS, the City of Fridley maintains a Special Assess-
ment Fund to finance local improvements that are to be paid for,
in whole or in part, from special assessments against benefited
property, pursuant to Section 7 .12 (d) of the home rule charter,
and
WHEREAS, the council is empowered by majority vote to
issue and sell bonds pledging the full faith and credit of the
city in order to anticipate the collection of special assessments
in such amounts and maturities as it may determine, regardless of
the provisions of Section 7.16 , and
WHEREAS, the city manager has presented to the council
his certificate showing the financial requirements for the issu-
ance of bonds and requesting that the council authorize the issu-
ance of Special Assessment Fund Bonds in the amount of $2, 095, 000 ,
NOW, THEREFORE, BE IT RESOLVED By the Council of the City
of Fridley, as follows:
1. It is hereby determined that it is necessary and expedient
to issue' and _sell $ 2, 095 , 000 Special Assessment Fund Bonds
as authorized by Section 7.12 (d) of the home rule charter of the
city.
.l_
1. it is f rt", o that it is necessary essaary t issue
and "ll additimml bonds to represent part the
higher interest presently required to market bonds as authorized
by givaesots, Staatutaa, Section 475.56. Said bonds sal. be in
amount of 040,000. k rs shall be authorized is to submit blAw
for a in total awavAt of 02013$0000 aat ua price not loss than
#2#0"#000 and any sm"at rocoivad by. the, city is aaa of
v M OOO shall kw cradited to the special awwassumt fund for
payment of int+er+rast first aacruing on bwAs issued bersuadox.
3. The bonds shall bear date.... pat urea an4 with h *th
ds,ta as *a "t out is tAft attach" 00 of solo.
4. The council shall meet at the city hall an, Mona •
the day of , 1972, at9ock .
fox Pia t4t !; r as l i�+r Par
and taking such action, as may be required to effect of
said aa. The city Veer awl cause notice to be given of
owh sale as required by laaw r which shall staata that the city will
furnish bonds =A "reving legal opistion of Masora. swoardr
LeFevero, Leflerf Homilton, and Pw"swi, *ball require a good
faith is the amount of int of the par Kraal
S. This lution sal be publishedin galla is the official
newspaper haat shall take effect upon Passage.
I
Attest
mmaptalyin
The motion for the adoption of the foroiping revaluation
was duly secoaded by Councilman Mi ttel stadt # and upon vote
boing +aa tbaromp tbo followlzq votAd Ax
Mayor Lieb1 and
Councilmen Breider, Mittelstadt and Utter;
&rA the following Aftsd no:
None;
whereupon d resolution was declared duly passed and adopted.
NOTICE OF SALE
$2,135,000 SPECIAL ASSESSMENT FUND BONDS
CITY OF FRIDLEY, MINNESOTA
NOTICE IS HEREBY GIVEN That the City Council of the City of Fridley, Min-
nesota, will meet at the City Hall , 6431 University Avenue N.E. , in said City on Mon-
day, September 11, 1972, at 7:30 o'clock P.M. , C.D.S.T. , to receive, open and
consider bids for the purchase of $2,135,000 negotiable coupon, general obligation
bonds of the City on the following terms:
Date and Maturities
The bonds will be dated October 1, 1972, will be in denominations of $1,000 or
$5,000 each (bidder's option) and will mature on January 1 in the following years
and amounts:
Year Amount Year Amount
1973 $ 75,000 1984 $ 75,000
1974 110,000 1985 75,000.
1975, 150,000 1986 75,000
1976 150,000 1987 75,000
1977 150;000 1988 75,000
1978 150,000 1989 50,000
1979 150,000 1990 50,000
1980 150,000 1991 50,000
1981 150,000 1992 50,000
1982 150,000 1993 50,000
1983 - 75, 000 1994 50,000
Redemption Feature
Bonds maturing in the years 1984 through 1994 will each be subject to redemption
and prepayment at the option of the City and in inverse numerical order, on
January 1, 1983, and any interest payment date thereafter at par plus accrued
interest.
Interest
Interest on the bonds will be payable on January 1, 1973, and semiannually there-
after on each July 1 and January 1. All bonds maturing on the same date must
bear interest from date of issue until paid at a single, uniform rate, not exceeding
the rate specified for bonds of any subsequent maturity. Not more than 10 interest
rates may be specified for the issue. Each rate must be in an integral multiple of
5/100 of 1%. No single rate, nor the effective average rate of the issue, may
exceed 7%. No supplemental �or "B" coupons will be permitted.
Paying Agent
Principal and interest will be made payable at any suitable bank in the continental
United States designated by the successful bidder within 48 hours after award of
sale, subject to approval by the City, and the City will pay the reasonable and
customary paying agency charges.
�,
Delivery
Within 40 days after sale, the City will furnish and deliver at the office of
the purchaser or, at his option, will deposit with a bank in the United States
selected by him and approved by the City as its agent to permit examination by
and to deliver to the purchaser, the printed and executed bonds, the unqualified
opinion thereon of bond counsel , and a certificate stating that no litigation in
any manner questioning their validity is then threatened or pending. The charge
of the delivery agent must be paid by the purchaser, but all other costs will be
paid by the City. The purchase price must be paid upon delivery, or within five
days after deposit with the delivery agent, in funds available for expenditure
by the City on the day of payment.
Legal Opinion
An unqualified legal opinion on the bonds will be furnished by Messrs. Howard,
LeFevere, Lefler, Hamilton and Pearson, of Minneapolis, Minnesota. The legal
opinion will be printed on the bonds at the request of the purchaser. The legal
opinion will state that the bonds are valid and binding general obligations of
the City, and the City is obligated and required to levy taxes for the principal
and interest thereon as the same become due without limit as to rate or amount.
Type of Bid - Amount
Sealed bids must be mailed or delivered to the undersigned and must be received
prior to the time of said meeting. Each bid must be unconditional and must be
accompanied by a cashier's or certified check or bank draft in the amount of
$42,700, payable to the City Treasurer, to be retained by the City as liquidated
damages if the bid is accepted and the bidder fails to comply therewith. The
bid authorizing the lowest net interest cost (total interest from date of bonds
to stated maturities, less any cash premium or plus any amount less than $2,135,000
bid for principal ) will be deemed the most favorable. No oral bid and no bid of
less than $2,095,000 for principal plus accrued interest on all of the bonds will
be considered, and the City reserves the right to reject any and all bids and to
waive any informality in any bid.
BY ORDER OF THE CITY COUNCIL
/s/ Gerald R. Davis, City Manager
6431 University Avenue N.E.
Fridley, Minnesota 55421
Further information may be obtained from and bids may be delivered to: EHLERS AND
ASSOCIATES, INC. , Financial Consultants to the City, First National-Soo Line
Concourse, 507 Marquette Avenue, Minneapolis, Minnesota 55402. Telephone: 339-8291
(Area Code 612).
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SUNNEwsPAPERs
6601 WEST SEVENTY-EIGHTH STREET
EDINA, MINN. 55435 • 941-4800
AFFIDAVIT OF PUBLICATION
}
SUN
836-40th Avenue N.E. Columbia Heights, Minnesota
State of Minnesota
ss.
County of Anoka
J. R. RITCHAY, being duly sworn, on oath says he is and during all times here stated
has been the vice president and printer of the newspaper known as Sun and has fall knowledge a:
of the facts herein stated as follows: (1) Said newspaper is printed in the English language in
newspaper format and in column and sheet form equivalent in printed space to at least 900
square inches. (2) Said newspaper is a weekly and is distributed at least once each week. I`
(3) Said newspaper has 50% of its news columns devoted to news of local interest to the com-
munity which it purports to serve and does not wholly duplicate any other publication and is +I
not made up entirely of patents,plate matter and advertisements. (4) Said newspaper is circulated fl
in and near the municipality which it purports to serve, has at least 500 copies regularly delivered 1,
to paying subscribers, has an average of at least 75% of its total circulation currently paid or no
more than three months in arrears and has entry as second-class matter in its local post-office.
(5) Said newspaper purports to serve the Cities of Columbia Heights, Fridley and Blaine and
the Village of Spring Lake Park in Anoka County and it has its known office of issue in the
City of Columbia Heights in Anoka County, established and open during its regular business
hours for the gathering of news, sale of advertisements and sale of subscriptions and maintained
by the managing officer or persons in its employ and subject to his direction and control during
all such regular business hours and devoted exclusively during such regular business hours
to the business of the newspaper and business related thereto. (6) Said newspaper files a copy
of each issue immediately with the State Historical.Society. (7) Said newspaper has complied
with all the foregoing conditions for at least two years preceding the day or dates of publication
mentioned below. (8) Said newspaper has filed with the Secretary of State of Minnesota prior
to January 1, 1966 and each January 1 thereafter an affidavit in the form prescribed by the
Secretary of State and signed by the publisher of said newspaper and sworn to before a notary
public stating that the newspaper is a legal newspaper.
t: r
ip
He further states on oath that the printed Notice of Bond Bale
hereto attached as apart hereof was cut from the columns of said newspaper,
p and was printed
and published therein in the English language, once each week, for--Q]20--successive weeks;
that it was first so published on Ted,, the 23rd day of AURUst , 19-7-2—
and was thereafter printed and published on every to and including
the day of 19— and that the following is a printed copy
of the lower case alphabet from A to Z, both inclusive, and is hereby acknowledged as being
the size and kind of type used in the composition and publication of said notice, to-wit:
abcdefghi j klmnopgrstuvwxyz
abcdefghi jklm nopgrstuvwxyz
Subscribed and sworn to before me this 23rd day of AUgU t 19__L2 ,
(Notarial Seal)
G. M. Vest, Notary Public, Hennepin County, Minn.
My Commission Expires April 18th, 1979.
Notice of Sale
$2,135,000
Special Assessment Fund Bonds
City of Fridley, Minnesota
NOTICE IS HEREBY GIVEN That the City Council of the City of Fridley, Minnesota,
will 11111"t at the City Hall, 6431 University Avenue N.E., in said Cityon
September 11, 1972 Monday,
at 7:30 o'clock P.M., C.D.S.T., to receive, open and consider bids for the base of
purc
2,1 5,000 negotiable coupon, general obligation bonds of the City on the following
ND
The bonds will be dated OctoberT 1, 1972,A ill blesin denominations of $1 00
$5,000 each (bidder's option) and will mature on January 1 in the foOf $1
and amounts: 0 or
llog years
Year Amount Year Amount
1973 $ 75,000 1979 $150,000 Year Amount Year Amount
1974 110,000 1980 150,000 1985 $ 75,000 1991 $ 50,000
1975 150,000 1981 150,000 1986 75,000 1992 50,000
1976 150,000 1982 150,000 1987 75,000 1993 50,000
1977 150,000 1983 75,000 1988 75.000 1994 50,000
197$ 150,000 1984 75,000 1989 50,000
1990 50,000
REDEMPTION FEATURE
Bonds maturing in the
and prepayment at the option ears 1of8 hehCity and in inver erouh 1994 willa numericalh be lo der, on redemption January
1, 1983, and any interest payment date thereafter at par plus accrued interest.
Interest on the bonds will be INTEREST
after,on each July 1 and January 11. All bonds maturing on the same date must
bear.interest from date of issue until January 1' 1973' and semiannually there-
the rate specified for bonds of any subsequent maturity uniform rate, not exceeding
rates`may be specified for the issue. Each rate must be in an integral multiple of
Y Not more than 10 interest
5/100, of 1%. No single rate, nor the effective average rate of the issue, may
exceed 7%. No supplemental or "B" coupons will be permitted.
Principal PAYING AGENT
Pa d interest will be made payable at any suitable bank in the continental
United States designated by the successful bidder within 48 hours after award of
sale, subject approval by the City, and the
customary Paying agency charges. City will pay the reasonable and
Within 40 days after sale, the City will DELIVERY furnish and deliver at the office of the
purchaseror, at his option, w
hill deposit with a bank in the United States selected
by
hi and approved by the City as its agent to permit examination by and to
tJieliver to the purchaser, the
printed and executed bonds, the unqualified opiniong
thereon of bond counsel, and a certificate statin that no liti ation in any
questioning their validity is then threatened or g
dent must be paid by the Pending. The charge of the delivery
e purchase price must be purchaser, but all other costs will be paid by the City.
wth the delivery agent, in fundspaidavallableon eforroxpendituren byvthe C deposit day
Payment.
'n un LEGAL OPINION
LeFevere, Lefler, lHamilt al nInion on the bonds will be and Pearson, of Minneapolis,fMinnesota ished b The legal opinion
WRI be printed on the bonds at the request of the Y Messrs. Howard,
l state that the bonds are valid and binding Purchaser. The legal opinion
I City is obligated and required to levy taxes f rnthel obligations of the City, and
fAe prinicpal and interest thereon
same become due without limit as to rate or amount.
' TYPE OF BID -AMOUNT
Se010 bids must be mailed or delivered to the undersigned and must be received
acoppa^ by a cathe time said meeting. Each bid must be unconditional and must be
cshier's or certified check or bank draft in the amount of $42,700,
,dpae to the City Treasurer, to be retained b
bid is accepted and the bidder fails to comply therewith. The bid authorizing
y the City as liquidated damages
he est net interest cost (total interest from date of bonds to stated maturities,
less oaty cash premium or plus any amount less than $2,135,000 bid for
will 1R deemed the most favorable. No oral bid and no bid of less than $2,095,000
for prinicipal plus accrued interest on all of the bonds will be considered,principal)
City; reserves the right to reject any and all bids and to waive any informality in
' BY ORDER OF THE CITY COUNCIL
,l /s/GERALD R.DAVIS,City Manager
6431 University Avenue N.E.
Fridley, Minnesota 55421
Further information may be obtained from and bids may be de-
livered to: EHLERS AND ASSOCIATES, INC., Financial Consultants
to the ,City, First National-Soo Line Concourse, 507 Marquette
Avenue, Minneapolis, Minnesota 55402, Telephone: 339-8291 (Area
Code 612).
Published in Commercial West,August 26, 1972
AL 4
AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA 1
n County of Hennepin esh
Gudrun I Axness
............ being duly sworn, on oath says she Is and during all tM
times herein stated has been the clerk of the publisher and printer of the newspaper known as Commercial
West and has full knowledge of the facts herein stated as follows: (1) Said newspaper Is printed In the
English language In newspaper format in column and sheet form equivalent In printed space to at least 900
square Inches. (2) Said newspaper is a weekly and is distributed at least once each week. (3) Said newspaper
has 50% of Its news columns devoted to news of local interest to the community which it purports to serve
and does not wholly duplicate any other publication and is not made up entirely of patents, plate matter and
advertisements. (4) Said newspaper is circulated In and near the municipality which It purports to serve,
has 500 copies regularly delivered to paying subscribers, has an average of at least 75% of Its total circulation
currently paid or no more .than three months in arrears end has entry as second-class matter in Its local
post-office. (5) Said newspaper has Its known office of issue in the City which it purports to serve, namely
the City of Minneapolis in the County of Hennepin, which office Is established and open during Its regular
business hours for the gathering of news, sale of advertisements and sale of subscriptions and maintained by
_ the managing officer of said newspaper or persons in Its employ and subject to his discretion and control
during all such regular business hours and devoted exclusively during such regular business hours to the
business of the newspaper and business related thereto. (6) Said newspaper files a copy of each issue` immediately with the State historical Society. (7) Said newspaper has complied with all the foregoing
conditions for at least two years preceding the date hereof. (8) Said newspaper has flied with the Secretary
of State of Minnesota an affidavit In the form prescribed by the Secretary of State and signed by the managing
officer of said newspaper and sworn to before a notary public stating that the newspaper Is a legal newspaper.
She further states on oath that said Commercial West is a weekly periodical published in Minnaepolhs,
a city of the first class, and which circulates throughout the state and furnishes financial now as part of ib
service.
She further states on oath that the intact T10tiCe Of Sale. ....
th
hereto attached as a pant hereof was cut from e columns of staid newspaper, and was printed and pubRa W
9
therein In the English language, fQr{}; ;
on Saturday the 2 nth day of Augu&t.........
2•• R Ol19i 4'h4lk RKX�lX
a thte Ito ng is�a a nted-co� n9 low case a rmn � iielusiveU a�
acknowledged as being the size and kind of type used in the composition and publication of said notice, to wit:
a bcdefg h i j kl m nopq rstuvwxyz
abcdefghiikimnopgrstuvwxyz
W�
a.
(,
26th
}
Subscribed and sworn to beton me this .............. day of .. UUSt 19.7.a..
.............
Notary Pubtl4 ennepin County, Minwota
MY Commission Expires 19......
H. I. BENSON, NOTARY PUBLIC
F r
a � COUNTY OF HENNEPIN, STATE OF MINNESOTA
ti MY COMMISSION EXPIRES APRIL 18th,1979
:�1k
t
ZMACT Or MINUTES Or XMTXG OF TRR
COUNCIL or THE CIT or rRIDLIKY
ANOKA COURT, MINNISOTA
Pursuant It to due +gall and notice thereof, a s pec i a l
meeting of the Council of the City of Vridley,, Xi sots, was
duly hold at the City Hall in said, city mn Monday, the lith day
of September,, :1972, at 7:30 o"cls P,X.
ze fall*Wing members were Presents Mayor L i eb 1 and
Councilmen Braider, Mittelstadt and Utter;
and tho following wore absent; None (one vacancy on Council);
The mayor announced that they meeting was convened for
the consideration of bids for the purchase of $2#135j,000,000 al
Assessment rund Bonds as advertised for sale The city manager
presented affidavits showing publication of notice of sale at
least once more than ten days in advance of sale in the official
newsp r &ad in rci.al, West.. a financial paper published in
a eaa roli.s, Minnesota, which affidavits were examined and found
satisfactory and ordered plaoed on rile.
The manager presented the sealed bids which h*d been
doliver to him prior to the time specified in the notice of sale
&ad said. bids were opened, exAmined and found to be as followsc
BID TABULATION
$2,135,000 G. 0. SPECIAL ASSESSMENT FUND BONDS
CITY OF FRIDLEY, MINNESOTA
SALE: MONDAY, SEPTEMBER 11 , 1972
AWARD: JURAN AND MOODY, INC. , ST. PAUL, MINNESOTA
& ASSOCIATES
NET INTEREST
NAME OF BIDDER RATE YEARS COST PRICE
JURAN & MOODY, INC. 3.80% 1973/76 $918,691 .60 $2,105,302.15
St. Paul , Minnesota 4.10% 1977/78
Allison-Williams Company 4.40% 1979/80 NET RATE:
Minneapolis, Minnesota 4.60% 1981/82
American National Bank & Trust Co. 4.80% 1983/84 4.9878%
St. Paul , Minnesota 5.00% 1985/86
Dain, Kalman & Quail , Inc. 5.10% 1987
First National Bank of Minneapolis 5.20% 1988/89
Minneapolis , Minnesota 5.25% 1990/91
First National Bank of St. Paul 5.30% 1992/94
St. Paul , Minnesota
Merrill Lynch, Pierce, Fenner &
Smith, Inc.
Paine, Webber, Jackson & Curtis Inc.
Piper, Jaffray & Hopwood Inc.
E. J. Prescott & Company
National City Bank
Minneapolis, Minnesota
BANC NORTHWEST OF MINNEAPOLIS ) 3.60% 1973/75 $928,725.25 $2,112,262.25
Minneapolis , Minnesota ) joint 4.25% 1976/78
FIRST NATIONAL BANK & TRUST CO.)managers 4.50% 1979/80 NET RATE:
Oklahoma City, Oklahoma ) 4.75% 1981/83
First National Bank in St. Louis 4.90% 1984 5.0422%
St. Louis , Missouri 5.00% 1985/87
White, Weld & Co. , Inc. 5.25% 1988
New York, New York 5.30% 1989/90
5.40% 1991/92
5.50% 1993/94
EHLERS AND ASSOCIATES, INC.
Financial Consultants to the City
(continued on following page)
Bid Tabulation
Page 2
$2,135,000 G. 0. Special Assessment Fund Bonds
City of Fridley, Minnesota
Sale: Monday, September 11 , 1972
NET INTEREST
NAME OF BIDDER RATE YEARS COST PRICE
JOHN NUVEEN & CO. , INC. 3.90% 1973/76 $930,694.90 $2,111 ,536.35
Hornblower & Weeks-Hemphill , Noyes 4.25% 1977/78
Chicago, Illinois 4.50% 1979/80 NET RATE:
duPont, Glore, Forgan, Municipals , Inc. 4.70% 1981/82
Shearson, Hammill & Co. , Inc. 4.90% 1983/84 5.0529%
Reynolds Securities , Inc. 5.00% 1985
American Securities Corporation 5.10% 1986
New York, New York 5.20% 1987
Channer Newman Securities 5.30% 1988/90
5.40% 1991/94
EHLERS AND ASSOCIATES, INC.
Financial Consultants to the City
First National-Soo Line Concourse
507 Marquette Avenue
Minneapolis, Minnesota 55402
Telephone: 339-8291
Area Code: 612
After due consideration of all bids, Councilman
Utter presented and read the following written resolution
and moved its adoption:
RESOLUTION NO. 106
RESOLUTION AWARDING SALE OF $2 ,135,000
SPECIAL ASSESSMENT FUND BONDS, FIXING
FORM AND SPECIFICATIONS THEREFOR, DI-
RECTING THEIR EXECUTION AND DELIVERY
AND PROVIDING FOR THEIR PAYMENT
BE IT RESOLVED By the Council of the City of Fridley,
Minnesota, as follows:
1. The bid of Juran & Moody, Inc. , of St. Paul , Minnesota,
to purchase $2 ,135 ,000 Special Assessment Fund Bonds of 1972 is
hereby found and determined to be the best bid received and shall
be and is hereby accepted, said bid being to purchase said bonds
bearing interest as follows:
Year Rate Year Rate Year Rate
1973 3.80% 1980 4.4o% 1987 5. 100
1974 3.80% 1981 4.60% 1988 5.20%
1975 3.80% 1982 4.60% 1989 5.20%
1976 3.80% 1983 4.80% 1990 5.25%
1977 4. 1o% 1984 4.8o% 1991 5.25%
1978 4. lo% 1985 5.00% 1992 5.30%
1979 4.4o% 1986 5.00% 1993 5.30%
1994 5.30%
at a price of $ 2, 105,302. 15 The treasurer is directed to
retain the good faith check of the purchaser pending completion
of the sale and delivery of the bonds and the city clerk is directed
to return the checks of unsuccessful bidders forthwith.
2 . The City of Fridley shall forthwith issue its negotiable
coupon Special Assessment Fund Bonds of 1972 in the prin-
cipal amount of $2 ,135,000, said bonds to be dated October 1, 1972 ,
to be 427 in number and numbered 1 to 427 , both inclusive, in the
denomination of $5 ,000 each, bearing interest as above set forth,
payable January 1 , 1973, and semiannually thereafter on January l
and July 1 in each year, and maturing serially on January lst in
the years and amounts as follows: $75, 000 in the year 1973; $110 ,000
in the year 1974 ; $150 , 000 in each of the years 1975 to 1982 , both
inclusive; $75 ,000 in each of the years 1983 to 1988 , both inclusive;
and $50 ,000 in each of the years 1989 to 1994 , both inclusive, all
bonds maturing after January 1, 1983 , being subject to redemption on
said date and any interest payment date thereafter, in inverse numer-
ical order, at par and accrued interest.
3 . Both principal of and interest on said bonds shall be
payable at The First National Bari, of Saint Paul , in St.. Paul ,
Minnesota,
as designated by the successful bidder and the city shall pay the
reasonable charges of said bank for its services as paying agent.
4 . The bonds and the interest coupons to be thereto attached
shall be in substantially the following form:
-3-
No.
5#000
UNITED STATES Or AMERICA
STATE UP MINNESOTA
COUNTY OF AN ,
CIT' OF i RRI=Y
a PLCIA► ASSESSMENT FUND BOND OF 1972
Anoka OW BY THESB PRESENTS {r
That the City of rri dla ,
CounKNOW
Miun*rota, acknowledges itself to be indebted w4, for
value received, hereby promises to .pay to bearer, from .its special
Ascsesse act Pwkd,, cA the lot day of January, 19 , than sum of FIVE
THOUSAND DOER and to Pay interest thereon from the data hereof
uanti l the principal amount is paid at the ,recta of
percent ( ) per aasnuuas, interest to maturity payable j&&u&ry 1,
1973,, and semiannually y thereaftear on the lst day Of January and the let
day of July in each year, in accordance with and upon presentation and
surrender of the iaat araest coupons hereto attached aaa they severally
become due. Both Principal and interest are payable at
t'
1 o S i P ui i S P i Mi o a The First
t� afarrr10 t �lte ' � eia of aricac which act the
YMAt is q tender for public and private debts. Por the
pr t: and fullPayment Of such principal and interest as the s
ame
respectively become date, the full faith, credit and taxing powers o
the catty have been and are hereby irrevocably pledged.
Al bonds of this issue maturing after January 1, 1983, are
subject to redemption on said, date and any interest payment date there-
after, in inverse numerical order, at Saar and accrued interest. Thirty
days prior notice of redemption will be given in the
laws, near provided �y
This bond is one of an issue of $2,,135,,000 principal amunt,
all of li Le mate and tenor except as to maturity, interest rate and
provision for redemption', all issued by the city for the p ofprovatc
providing sea +ney to def ray the expense incurred or to be incurred in
making local improvements, ,in anticipation of the collection of special
s0864 nts, as authorized by Section 7.12 (d) Of the HMO Rule Charter
of the city, andis payaebl.e Primarily from specialassess Assets levied
against sp�scially benefited property,, but the full f aith and credit it €f
the catty is pledged for its payment.
IT IS USUBYCERWIFIED AND RECITED That all &Otis,, conditions
And things required by the Constitution and laws of the State of Minnesota
and the HMO Rule Charter of said city, to be done, to happen, to exi,sst
and to be Performed precedent to and in the issuance of this bona have
been done, have happened, do exist and have been performed .in regular
and due form, time and mamer as oto requiredy that the full faith and
credit of °the city is pledged foar the Payment of the pri.ncipasl of and
interest can the bonds of this issue when themoneys an hand in that a
pri.ata f are insufficient for ed
Upon a�.1 taxable purpose gond taxes Shall be l+svi.ed
which taxes asatty e levied ed withoutdl.is limitation a totake care ora a orf any a deficiency,
t
and
that t-1 issuance o this d did not c4uBe the indebtedness o>a�tthe
City to exceed any constitutional, statutory + r Charter limitation thereon.
IN WITNESS OF, the city o Fridley,,i.dley, okac 'b'o'unty, nnesotaas,
by its Counci.l., has causedthi.ssbondto be executed in its behalf by.
the facsimile ssignature of theyoar ,sand manual signature o its City
Mana
ger, anl. ax facs3Aile of its corporate seal to be printed hereon,
And has caused the att.acsh d .interest coupon* to be executed and atuthen--
ticattud by the facsimile signature$ of said officers, all as Of October 1,
1972.
aattces le asi nature}
yam'
ty e<gerc
(F SI >g )
(rorz ofCoupon)
On the first day of januarlr (July) , 19 the City of
J?ri.dle , Anoka County, Minnersota, will pay to bearer, out of its
Special Assessment Fund, at The First National Bank of Saint Paul , in
'
Paul Mi ,nn otae aus�3un s hereon for interest then due on its iSpesc.ial
Assessment Fund Bond of 1.972, dated. October 1, 1372, No.
f,sasile► signature)
Mayor
ifacsimile S tur )
City- ajer
S. The city has agreed to furnish the approving legal opinion
of Messrs. Howard# Lerevere, Lefler, Hamilton and Pearson
to the purcr &$*rs, and Such Opinion n i rale requested. The clerk
is authorised and directed to cause a copy of such opinion to be printed
on each bond, together with the c lexk,'s certificate in substantially
the following wing form a
1, the undersigned, Clerk of the City of Fridley:
Minne$crta, hereby Certify that except for the dating
thereon, the above is a full, true and correct copy of
the legal Opinion, of Messrs. Howaard, Laftvere, Lefler,,
Hamilton and Pearson of Minneapolis,, Minnesota,, which
wan delivered to me prior to the delivery of this bond
and is on file in any office.
t fs .le s . attune
city clerk
City of Fridley, Minnesota
The clerk shall also execute a► separate certificate at time of delivery
showing fact and date of receipt of such opinion.
. The bonds shall be prepared under "e direction of the city
clerk and $ball be executed on behalf of the city by the
facsimile signature of the mayor and manual signature of the city
manager, and a facsimile of the corporate seal of the city shall be
affixed to each thereof, and the interest coupons schall be exocuted
and authenticated by the printed facsimile signatures of said officers.
When the bands have been so executed,, t y shall be delivered by the
treasurer to the .purchaser thereof upon receipt of the purchase prance
heretofore agreed upon and the purchaser shall not be obligated to see
to the proper application thereof.
7. The bonds issued hereunder shall be payable e f_ the pedal,
Assessment Fund, provided that if any payment of pri,ncsipal or
interest shall boc=w due when there is not sufficient money in said
fund to pay the same, the treasurer shall pay such principal or interest
from the general fund of t-he cit; and such fund shall be reimbursed for
any advances out of proceeds of assessment* or special tapes when
collected.
S. 1t is hereby determined that the est.iasated collections of
special assessments which will be available for the payment
of said bonds wi.l.l produce at least five per cent in excess of the amounts
needed to meet when dura the
principal and interest payments on the bonds
and no aid valorem taxes are required at this time.
-5-
9. The city clerk shall deliver to the count -auditor of
Anoka County a certified copy of this resolution and
obtain his certificate in accordance with Section 475. 63 , Minnesota
Statutes.
10. It is hereby determined that the improvements which are
financed by the issuance of bonds hereunder will benefit
the entire city and the city hereby covenants with the holders from
time to time of said bonds as follows:
(a) The city will cause the assessments for all im-
provements to be promptly levied so that the first install-
ment will become collectible not later than 1973 and will
take all steps necessary to assure prompt collection.
(b) The city will keep complete and accurate books and
records showing all receipts and disbursements in connection
with said improvements, the assessments levied therefor and
.other funds appropriated for their payment, and all collections
thereof and disbursements therefrom, moneys on hand and balance
of unpaid assessments.
(c) The city will cause its said books and records to
be audited at least annually by qualified public accountants
and will furnish copies of such audit reports to any inter-
ested person upon request.
11. The clerk and treasurer of the city are hereby authorized
and directed to prepare and furnish to the purchaser of the
bonds and to the attorneys approving the same, certified copies of
all proceedings and records of the city relating to said bonds and
to the financial condition and affairs of the Special Assessment
Fund and such certificates, affidavits and transcripts as may be
required to show the facts within their knowledge or as shown by
the books and records in their custody or under their control relating
to the validity and marketability of bonds and such instruments, in-
cluding any heretofore furnished, shall be deemed representations of
the city as to the facts stated therein.
12. This resolution shall be published in full in the official
newspaper but shall take effect upon passage.
Signed:
Frank G. Liebl
Attest: Mayor
Marvin Brunsell
City Clerk
The motion for the adoption of the foregoing resolution
was duly seconded by Councilman Mittelstadt and upon vote
being taken thereon, the following voted AYE: Liebl , Breider,
Mittelstadt and Utter;
and the following voted NO: i one;
whereupon said resolution was declared duly passed and adopted.
-6-
STATE OF HDINESO")
COUNTY OF ANOM SS
CITY Or PRIOLLY
Is, the UAdersignade being the 4uly qualified and actinj
Clark of the City of Fridley, Minnesota, do hereby certify that
I have carefully compared the attached an4 foregoing extract of
minutes of a special meeting of the Council of said city hold
Saptember 11, 1972, with the original thereof on file in my office,
alld the $me is a fulls, true and complete transcript therefrom
insofar as the sow relates to the issuance and sale of $2,135,000
Special Assessment fund Bonds of 1972 of the city.
WXTNUSS Xy hand officially as suct. Clerk and the corporate
goal of time city Was 11th day of September, 1972.
City
City of Fridley, Minnesota
(BEAL)
-7-
?"N /1-N
STATE OF Z-1INNESOTA COUNTY AUDITOR'S
CERTIFICATE AS TO
COUNTY OF ANOKA REGISTRATION WHERE NO
AD VALOREM TAX LEVY
I, the undersigned County Auditor of Anoka
County, Minnesota, hereby certify that a resolution adopted
by the council of the City of Fridley
on September 11 , 1972 , relating to
Special Assessment Fund Bonds
in the amount of $ 2,135,000 dated October 1 , 1972 ,
has been filed in my office and said obligations have been
registered on the register of obligations in my office.
WITHI ESS My hand and official seal this /J 71 day of
September o 1972.
County Au i or
Anoka County, Minnesota
(SEAL)
BY _� 1�! ►
Deputy
I
f;
STATE OF Kt8A9'A SIGNATURE AND NO
COUNTY OF ANNA LITIGATION CERTIFICATE
NAME OF MUNICIPALITY CITY Of FMIM
We, the undersigned, being the duly qualified officers
as shown beneath our signatures herewith, hereby certify and re-
cite as follows:
As of the date stated hereafter and in accordance with
the directions of the governing body of the above named munici-
pality, we have caused the proper manual or facsimile signatures
to be affixed to each of the obligations hereafter described and
each coupon therewith.
Name of Issue: Special Assessssant Fuad Bonds of 1972
Ddte of Issue: October 1, 1971
Amount of Issue: 520135,000
Denomination: $ 50000 each
Interest Rate or Fates: bonds -t- -- in 1973 to 1978„ inclusive,
3.801 pair annual bonds maturing 3n 1977 and 1978, 4.108 pot annum;
bands maturing in 1979 and 19800 4.400 per annual bonds maturing in
1901 and 1982,E 4.604 pair annual bands maturing in 1983 and 1984, 4.868
psr annual bands maturing in 1985 and 1986, 5.001 per annual bonds
maturing in 1987, 8.181 per amno; wads maturing in 1988 and 1989,
5„201 pair annual bonds maturing in 1990 a 1991s 5.251 per annual
and bands maturing in 1992, 1993 and 1994, 5«301 per =mum.
First Interest Date: January 1, 1973
Interest Payment Dates: January I am July 1
Payable at The First National Hank of Saint lana.
Mature on January i , in the years and amounts as follows:
YEAR NOS. AHOUNT : YEAR NOS. MIOUNT
s
1973 1-i5 $75,000 1984 393-307 $751000
1974 16-37 $110,000 198!5 3108-322 $750000
1976 38-67 $1800 000 : 1986 333-337 $75,060
1976 40-97 $1500000 : 1987 338-•352 $7.5,000
1977 08-127 $150,000 : 1988 353. 367 $75j400
1978 138-157 $150#000 1989 368-3177 $500000
1979 ISS-187 $1501000 : 1990 378-387 $500000
1980 168. 317 $1.'x+00000 1991 388-397 $So,AOo
1991 318-247 $150,000 1992 398-►407 $50,000
1982 248-277 $180,000 1993 40$- 417 $S00090
1983 278-491 $75#000 1994 4110-427 $S90000
All bonds maturing : 1903
inverse a� rivow on said date and�an Late�r"t�t�.c�, in
patent data
thereafter, at par and acarued in*wost.
;�
M
�+
We further certify that only proper investment of pro-
ceeds is contemplated in accordance with United States Internal
Revenue Code Section 103 (d) .
lie further certify that no obligations have been pre-
pared, executed or issued pursuant to such authority except as
above stated and that no litigation is now pending or threatened
questioning the organization of said municipality or the right,
power and authority of its officers to execute and deliver said
obligations, the levy of taxes as may be required for payment
thereof or in any manner questioning the validity of said obli-
gations.
lie further certify the signature shown below is the duly
authorized signature of the treasurer of the municipality.
The municipality has an official seal which has been
affixed hereto and an original has been affixed or a facsimile
has been printed on each of said obligations.
WITNESS Our hands officially as such officers this 16th
day of October 197 2 .
O iCe 1frank 0.
O ice GerajA R. Davit. city
Of fice k-Tacsa �e�c
STATE OF Xn4NZSMA
COUNTY OF
I, the undersigned, being a duly qualified and acting
cashier of
hereby certify that I am familiar with the signatures of
Frank Q. Ll ebl, Mayor , Gerald R. DaVj (, City Manager,
and Marvin Brunse a, Clam,,. eaer , the three officers whose
names appear above and the same are the signatures of the re-
spective officers as stated.
WITNESS Piy hand and official seal of said bank this
// day of Qt-1 , 197 .
Cashier
rd a of Ban.
(SEAL)
/'� �
_..
. ,.
,� � ` ,
��
�"
a
STATE OF y E,A TREASURER' S RF'CEIPT AND
COUNTY OF AMM DELIVERY CERTIFICA,TF
I, the undersigned treasurer of
Cavity of !tlxu*y t
hereby certify that as of the date stated below I have received
from the purchaser: out*" i Ho"y0 X" Of sa"t last. � �r
the purchase price of the following described obligations:
Name of Issuer City 4t ft"loy
Name of Issue ,y al hammes t ma" of 1072
Principal Amount 2*132 t 0€ 0
Datedo Ott 17�
and I have delivered the same to the purchasers above named,
said purchase price being as follows:
Principal Amount $ 2A3$r0*0,04
4*41pm Disom t $ 291,697.05
Accrued Interest $ 3,998.15
Total $ 2,109.300.30
WITNESS My hand officially as such Treasurer, this 16th
day of October 1972 o
and A.Am-
r
City of i �i�eaot&
y
STATE OF 13 A CERTIFICATION AS TO
COUNTY OFA► LEGAL OPINION
I, the undersigned, being the duly qualified and
acting Clock-ofteasurw hereby
certify that in accordance with the directions of the
governing body, I have caused a full, true and correct
copy, except as to dating thereof, of the legal opinion
of Howard, LeFevere, Lefler, Hamilton and Pearson, hxinne-
apolis, Minnesota, to be printed on each bond of an issue
of $ 2,139,89A Op"Lal Asswso►t fUnd Dods of 1972
dated 0OU"s 1r 1972, and my facsimile signature
to be printer; on each bond following the certificate
appended to said opinion.
I further certify that said opinion has been
delivered to me for filing in my office at or prior to the
time of execution of this certificates
WITNESS i".1y nand officially as such Cl k this
16th day of October , 1977
City of Ridley, x#s�►s�rta