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HomeMy WebLinkAbout80-048 .CERTIFICATION OF MINUTES RELATING TO $1,475, 000 .GENERAL OBLIGATION IMPROVEMENT .BONDS OF 19$0, SERIES B Issuer: City of Lakeville, Minnesota Governing Bady: City Council Kind,.date, time. and place of meeting: A regular meeting held on Monday, May 19, 1980, at 7.:30 o'elock.P.M. at the City Hall.` Members present:.Spande, Zaun, Nelson, Sindt and Lekson Members absent: None Documents Attachedc Minutes of said meeting (pages): RESOLUTION NO. 80-48 RESOLUTION AWARDING SALE OF $1,475,000 GENERAL OBLIGATION IMPROVEMENT BONDS C)F 19 8 0 SERIES B _ I, the undersigned, being the duly quaiifed and acting recording officer of the public corporation. issuing the bonds referred to in the title of this certificate., certify that the documents attached hereto, as described aboue, have been:. carefully, compared with the original records 6f said"corporation in my legal custody, from which they have been transcribed; that said documents are a correct and com- gletetranscript of the minutes of ameeting of the governing body of said..eorporation, and correct...and complete copies of all resolutions and other actions taken and of all :documents approved by the governing .body at said meeting, so far as they relate to said. bonds; and that. said meeting was duly held by the_governin,g body at the time and place and was_ -attended throughout by the members indicated above, pursuant - o call and notice of such. meeting given as required by law. WITNESS my hand officially as such recording officer this 19th...day of May, 1980.- Signature Patrick McGarvey City. Administrator: The City.Administrator presented to the .Council. affidavits showing publication in the official newspaper and the Commercial .West of notice of sale of $1,475,000 General Obligation Improvement Bonds of 1.980, Series B, of the City,. for which sealed. bids were to be received and considered at this meeting in accordance. with the resolution adopted by the City Council on April 21, 1980. Said affidavits were examined and. found satisfactory and directed. to be .placed on file. The Administrator,then announced that-2 sealed bids had been received-at his office prior to 7:30 P.M. pursuant to said notice of sale. The bids were then opened, ,.read"and checked,. and. the, highest and best bid of each bidder was found to be"as follows: .Bid For Interest Total Interest Cost .Name of Bidder Principal Rates - Net Average Rate (See attached sheet) Councilperson Zaun then introduced the following resolution, which was read in full, and:. moved its adoption: RESOLUTION NO. RESOLUTION AWARDING SALE OF $1,475,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980, SERIES B BE IT RESOLVED by the City.Council of the City of Lakeville, Minnesota, that the bid of Banc Northwest. of St.-Paul, Minnesota, and associates, to purchase .$1,475,000 General•Obligation Improvement Bonds-of .1980, Series B, of the City to be dated June 1, 1980, and to be issued in accordance with the notice of sale heretofore duly published,. is hereby found and declared to be the most favorable bid `received pursuant_to said notice of sale,_and is hereby accepted,. said bid being to-purchase- the bonds at a Brice of $1,449,924.99 and accrued interest on all bands. from the date thereof to the date of their delivery, the bonds maturing in the years-set forth below to bear interest at the respective rates per annum set oppositesuch maturzty years: .Maturity Years Interest Rates Maturity Years Interest Rates 1982 5.800 1992 _-6.70 1983 5.900 1993 6.80 1984 6.00% 1994 6.9Oo 1-985..;. 6 ~OQ~ 1995 7. QO o _ 1986 6.10% 1996 7.10_, 1987 6.200 1997 ?.20s ..1988. 6.300 1998 '7.308 I989 6'.40.% 19.99 7'.40 1990 6.50% 2000 7.54 1991 6.600 2001 7.50 The Mayor and City Administrator are authorized and directed to endorse a-.copy of said bid to show he City`s acceptance and to return it to said bidder. The. City .Administrator is directed to retain the good faith-check of the successful bidder and to return all other good faith checks forthwith.. This resolution shall take effect immediately. Approved- May r ~ Attest: City Administrator The. motion for the adoption of the foregoing resolution was duly seconded by Councilperson Nelson, and upon vote being taken thereon,. the .following voted-in favor thereof: All in favox and the following voted against the same: None whereupon the resolution was declared duly passed and adopted, and was approved and signed by the Mayor .whose signature was atte ted by the City Administrator.