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HomeMy WebLinkAbout04-14-69 ~ • na I'~- ij~- ~ 1 u COUNCIL MEETING APRIL 14, 1969 Item 1 The meeting was called to order by Mayor Aronson at 7:30 P.M. with Taft, Sullivan and Jensen present. Mako arrived at 10.:00 P.M. Item 2 Buds for the Valley Park Utility Improvement were declared closed at 7:30 P.M. Bids were opened .and read by Mr. Langness of Springsted, Inca The bids were as follows: Net Int. Dollar Cost-Net Int. Rate 1. Piper, Jaffrey.& Hoppwood with the 1st National Bank of Mpls. $94,770 5.60796 2. Lst Nat'l Bank of St. Pau] 69,733.75... 5.72389 3. Juran & Moody with Payne, Weber, Jackson & Curtis 98.,475 5.826 E. J. Prescott Co. 4. Allison Williams with. Dain, Kalman & Quail 99,261.40 5.873 Mr. tangness recommended that the bid from. Piper, Jaffry & Hoppwood be accepted. Taft moved to award the bid for the '69 Improvement Bonds to Piper, Jaffry & Hoppwood Seconded by Sullivan. Jensen, Taft and Sullivan for. Motion .carried. Item 3 Sullivan made a motion seconded by Taft to acceptthe minutes of the Apri] 7, 1969 meeting as read.. All for. Motion carried. Item 4 The matter of house numbers was discussed. Bob Jensen will investigate the situation further. Item 5 The~^e was a discussion about keeping the dump open every Saturday this summer. Taft made a motion seconded by Jensen to place in paper that theedump is only for sanitart' land fill. All for, motion carried. Item 6 The application for permit for aqu is nuisance control was discussed. Taft moved that the cl fill out application form and check with Henry Lau when chemical is needed.. Jensen seconded the motion. Motion carried.. Item 7 Leo Aronson mentioned that Ri1et' Lewis has 2 different outfiis who want to rent his place and that he would like to build the fence. up to the other. 'bins. Most. of the council was in agreement that this should come before the planning commission. .Item 8 Jensen made a motion seconded by Taft to adopt the Registration .Ordinance. All for. Motion carried. Item 9 Taft made a motion seconded by Sullivan to adopt the ordinance. establishing districts for voting. All fora Motion carried Item 10 After some discussion and a motion by Taft which was not seconded re: following Planning Commission recommendations, the rezoning of the parking lot which belongs to Lakeville Parking, Inc. was tabled until next week. Item 11 Jensen made a motion seconded by Sullivan to rezone the following described land commercial- industrial and to grant a building permit. All for. Motion carried.. Said land is situated in Dakota County, Minnesota and is ` e s. • • • PAGE TWO COUNCIL MEETING APRIL 14,1969 legally described as follows, to-wit: That part of government' Lot Two (2), Section Thirty (30), Township One Hundred fourteen (114), Range Twenty (20} lying South and East of the Chicago Milwaukee, St. Paul and Pacific Railroad Company right-of-way.... Item 12 Taft made a motonseconded by Jensen to adopt the dance hall ordinance.. All fora Motion carried. Item 13 Sullivan made a motion sec©nded by Taft to grant Mr. Feist a.garbage hauling license. All for. Motion carried. Item l4 Jensen made a motion to approve the preliminary plat. for Oak Shores Tbdrrd~. Addition with the park .proposal for adding 2.5 acres of land to the west of the present park. Sullivan seconded. All for ,Motion carried. Item 15 Another hearing was held for. Glenn Addition roads. After some discussion, it was discovered that only the people on Iceland were interested in improving the streets. Mr. Mako asked Mr. Bentson if he felt he had fullfilled his responsibility on the road to'which mr. Benison replied, "Yes". A preliminary report a roads was reviewed by the council. Mako made a motion to this hearing until the Village engineer can explain how much the improvement of Iceland would cost. The time set was May 5th at 9:15 P.M. -Taft. seconded. the motion. A11 4 for.. Motion carried. Item l6 Dennis Kirkwold asked for a variance for building a house and a variance for publication. Jensen moved to grant mr. Kirkwold a variance to build his house. 8 feet from-his property line and that a hearing be waived with the stipulation that the signature of the other property owner, Leonard Tuma, be obtained. Taft .opposed. Mako, Jensen and Su l i i van fora Mo`ti on carried Item 17 An assessment ~Fequest for Bassetts addition brought the comment from Jensen that the clerk had assessments rolls for bassett's Road. The assessment .has not as yet been determined. item 18 Jensen made a motion seconded by Taft to instruct the clerk to write Bloomington Rea;ity that to the council's knowledge, there are no pending assessments against property described as Lot 10, Block 3, Donnays College Park. All for. Motion carried.. Item 19 Walter King, Jr'n and Clint Cross' Justice of the Peace reports were reviewed by the council. Item 20 Jensen made-a motion seconded by Sullivan to grant the Village employees the afternoon of Christmas Eve as a holiday. All 4 for. Motion carried. Item 21 Taft made a motion seconded by Jensen to transfer. $10,000 to savings certificates from the .Liquor Fund. All for. Motion .carried.. Item 22 Sullivan made a motion to adjourn 'seconded by Taft. Meeting. adjourned. Respectfully submitted, Marceline Hemstrom, Vi age er Leo Aronson, Mayon y~ ~ • ~ ! f~ ' CERTIFICATION OF MINUTES RELATING TO ~C~I~,ti04 GS~AL ~fEL'it'.ATYQI~ 'WJIT~~ Issuer Yil~c+~ art 'L~k+e~ill:, to Coa,~ty?. ~t?ta Governing body: ~illwgs it Kind, date, time and place of meeting: Special meeting, April 14, 19b9, 7:3Q F.M. Members present. Aronson, Jenaen, l~ullivan and Taft Members absent: Mako Documents attached: Minutes of said meeting (pages): ~ A*~~ A~~11`~QM A~AIl~iN6 SAt~, Aff{?~IZ 't~li~L~iCt Aixr~I "fRI~C ~L11tM ADD I9~FllLffi 9~ ~l~,t~0 ClslrlCi~A.YICi1~t & BQt~3~ 'TttE VIL C~1Y'I~G 1~ ~'1I~~ 2~ t~, At~D ~'Ll&~tG +E~T T~~''tiE!~ AAA TgE ~A,IF~ SIT QF' '~IIL?.A+C~ ~ ~'A"i~x ?g~ ! I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the bonds referred to in the title of this certi- ficate, certify that the documents attached hereto, as described above, have been careflilly compared with the original records of said corporation in my legal cus- tody, from which they have been transcribed, that said documents are. a correct and complete transcript of the minutes of a meeting of the governing body of said cor- poration, 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 bonds9 and that said meeting was duly held by the governing body at the time .and place and was attended throughout by the members indicated above, pur- suant to call and notice of such meeting given as required by law. WITNESS ~ hand officially as such recording officer this day of ~kptl.l , 1~9. Signature ~fillni~a ~Isz~c Name and Title ,~_f • i • The Village Clerk presented affidavits of publication in the Commercial West and in the official newspaper of the Village of the notice of sale of the $160,000 General Obligation Water Revenue Bonds of the Village, for which bids were to be received at this meeting, in accordance with a resolution adopted by the Village Council on March 17, 1969, which were approved and ordered placed on file. The Village Clerk announced that 4 bids had been received which were thereupon opened and read, and the highest and best bid of each bidder was found to be as follows: (See next page) -1- • , • NET BIDDER COUPONS PRICE+ INTEREST COST PIPER, JAFFRAY & HOPWOQD 5. 0% ' 1972-78 $156,900; 00 $94, 770, OQ NORTHWESTERN NATIONAL BANK 5, 1O%p 19y9 (5.60769%~ BOTH OF MINNEAPOLIS, MINNESOTA 5,30%p `'1980-81 , 5.50% '-182-83 5, 70% ~1 984-85 • ' 5.80% ; 1986 X . 5. 90% ` 1987 ' .THE FIRST NATEONAL BANK OF 5, 00% `1972-77 $157, 760, OQ $96, 733, 75 SADNT PAUL 5. 50°fo '1978-82 (S, 72389%} ST, PAUL, MINNESOTA 5, 90% 1983-87 . JURAN & MOODY, iNC, 5.00% 1972-76 $i57~200.Q0 $98,475.00 ST. PAUL, N(INNESOTA ~0% 1977-#31 ($.826%~ PAINE, WEBBER, JACKSON SC GURTfS 5, $0% 1,982-84 E. J. PRESCOTT & Co, 6,00% X985-87 BOTH OF MINNEAPOLIS, MINNESOTA. ALLISON-WILLIAMS COMPANY 5, 40°0 1972-78 $15D, 378.60. $99, 26p~1 , 40 DAIN, KALMAN 8C QUAIL, INCORPORATED 5,5Q%p 1979-80 (5. 873~p~ BOTH OF MINNEAPOLIS, MiNN.'sSOTA 7Q% 1981-82 ' 5.90% 1983-84 6.00% .1985-87 _ • ~ ~ RESOLUTION AWARDING SALE, AUTHORIZING THE ISSUANCE AND DETERMINING THE FORM AND DETAILS OF $160,000 GENERAL OBLIGATION WATER REVENUE BONDS OF THE VILLAGE, CREATING A SINKING FUND THEREFOR, AND PLEDGING NET REVENUES AND THE FULL FAITH AND CREDIT OF THE VILLAGE FOR THE PAYMENT THEREOF BE IT RESOLVED by the Village Council of the Village of Lakeville, Minnesota as f allows : 1. It is hereby found, determined that pursuant to the resolution adopted March 17,.1969, calling for the sale of bonds in the principal amount of $160,000, which resolution is by this reference incorporated herein and made a part hereof, the Village has received bids for the purchase of such bonds. The bid of pi~eri ,7affdray & ~Iopwood ~ °f Minneapolis Minnesotta to purchase a $ bon s, to a issued in accordance with the notice of sa~.e which was duly published, is hereby found and declared to be the most favorable bid rem calved and should. be and is hereby accepted. Said bid to purchase said bonds at a price of $ 6 9b00 00' Plus accrued interest on all bonds to their date of delivery, with ~~ie' onds maturing in the years set forth below to bear interest from date of issue until paid, at the annual rate set forth opposite such maturity years as follows: Maturity Years Interest Rate 1972 - 1978 5.00% 1979 5.10% 1980 - 1981 5.30% 1982 - 1983 5.50% 1984 - 1985 5.70% 1986 5,80% 1987 5.90% The Mayor and Village Clerk are hereby autr~orized and directed in behalf of the Village to endorse such bid and show its acceptance. The good faith check of such successful bidder shall be retained pending delivery of the bonds and receipt of the purchase price. The good faith checks of alI other bidders shall be returned forthwith. 2. The bonds shall be designated as General Obligation Water Revenue Bonds, and shall be in the principal amount of $160,000, dated as of May 1, 1969, and shall be 32 in number and numbered from 1 through 32 , each in the _3 I . • ~ ~ denomination of $ 5,000 The bonds shall mature in order of serial numbers on February 1 without option of prior payment in the following years and amounts: $5,000 in each of the years 1972 and 1973, $10,000 in each of the years 1974 through 1976, $15,000 in each of the years 1977 and 1978, and $10,000 in each of the years 1979 through 1987. The bonds of the various maturities shall bear interest at the rate specified in the successful bid, as set forth in paragraph 1 hereof. All interest shall be payable on February 1, 1970, and semiannually thereafter on each August 1 and February 1. The principal and interest shall be payable at No astern Nat3.onal Bank. of Minneapolis ~ in n apoi Minnesota an~~he ~~age agrees to pay the reasonable charges of said p~y~x~g agei~it. 3. Said bonds and the interest coupons to be thereto attached shall be in substantially the following form: -4- . • i • UNITED STATES OF AMERICA STATE OF MINNESOTA COUAITY OF DAKOTA VILLAGE OF LAKEVILLE GENERAL OBLIGATION WATER REVENUE BOND No. ' $ 5, 000 :~T06J ALL MEN BY THESE PRESENTS that the Village of Lakeville, Dakota County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the 1st day of February, 19 ,without option of prior payment, and the Village .promises to pay interest on said principal sum from the date hereof until said principal sum is paid, at the rate of per cent ( per annum, interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons appurtenant hereto. Interest is payable on February 1, 1970, and semiannually thereafter on each August I and February I. Eoth principal and interest are payable at THE NORTHWESTERN NATIONAL BANK OF MINNEAPOLIS ~ in MINNEAPOLIS, MINNESOTA , in any coin or currency of the United States of America which on the respective dates of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest as the same become due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged. This bond is one of an issue in the aggregate principal amount of $160,000, all of like date and tenor except as to serial number, maturity and interest rate, issued by said Village for the purpose of providing funds to enlarge and improve the municipal waterworks system, and is issued pursuant to resolution duly adopted by the Village Council, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Section 444.075, as amended. It IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, conditions and things required by the Constitution and laws of the State of Pinnesota to be done, to exist, to happen and to be performed precedent to and in ttie issuance of this bond in order to make it a valid and binding general obliga- tion of the Village according to its terms, have been done, do exist,. have happened and have been performed in regular .and due form, time and manner as so required; that in and by the resolution authorizing said issue of bonds, adopted April 14, 1969, the Village has covenanted and agreed with the holders of any of said bonds that the Village will impose and collect. charges for the service, use and . . i • i availability of its municipal water system at the times and in the amounts required to produce net revenues adequate to pay all principal and interest e~hen due on bonds of said issue, but the full faith, credit and taxing powers of the Village have been pledged to the payment of such principal and interest when due, and ad valorem taxes,. if necessary for such purpose, will be levied upon all taxable property in the Village, without limitation as to rate or a~tount; and that this bond, together with all other indebtedness of the Village outstanding on the date hereof, and on the date of its actual issuance and delivery, does not e_~cceed any constitutional or statutory limitation of indebtedness. IN t?ITNESS tJHEREOF the Village of Lakeville, Dakota County, Minnesota, by its Village Council, has caused: this e behalf by the MANUAL. signature of the Ma or attested b the' ~ Y > y age Ier an sealed with its official seal, and has caused the interest coupons appurtenant hereto and the certificate appearing on the reverse side hereof to be executed and authenticated by-the facsimile signatures of said officers, and has caused this bond to be dated as of May 1, 1969. Mayor Attest: Village Clerk (SEAL). (Form of Coupon) No. $ On the first day of February (August), 19 the Village of Lakeville, Dakota County, Minnesota, will pay to bearer at THE NORTHWESTERN NATIONAL BANK OF MINNEAPOLIS , in MINNEAPOLIS'- MINNESOTA ~ the amount shown hereon in lawful money of the United States of America, for interest then due on its General Obligation Water Revenue Bond, dated May I, 1969, No. (Facsimile signature) (Facsimile signature) Village Clerk Mayor (Form of certificate to be printed on the reverse side of each bond, following a full copy of the Legal opinion on the issue} We certify that the above is a full, true. and correct copy of the legal .opinion rendered by bond counsel on the issue of bonds of the Village of Lakeville, Dakota County, Minnesota, which includes the within bond, dated as of the date of delivery of and payment for the bonds. (Facsimile. signature) (Facsimile signature) .Village Clerk Mayor • ~ • es r 4'f'4 Y. ' ~J,f£ s, ~ ~ t ~ ~.1 r 4. The bonds shall be prepared under the d;~'aGt~~on{ u#~ Che, ViZ'l~gt Cl~e~k and attorneys, and when so pz~,pared, sha1~..Cj~e .,executed in behalf of the Villagee,. . by the s~.gi~atur,e~ of,~the Mentor;,;-;attested ~y= t~e~ Village Clerk, and sealed with the offic,a~. ,seal of they ,~'il7f~~e p;xovided, that the signature of either of said officers ~dt~t~ the seal of `~th~e.:V~.~lage may be a printed facsimile.. The interest coupons shall be;executad~~ai~d authenticated by the printed, engraved or 1"itho- graphed facsimile signatures o£ the Mayor and Clerk. On the revere s~,de'df each bond will be printed a copy of ~}~e approving opinion t.o be rendered~by boi~tl - counsel, certified by the facsimi~.e signatures of said officers. staid bonds have been so executed and authenticated, they shall be"delivered by the v'~`~lege,~ Treasurer to the purchaser on receipt of the purchase-price heretofore ag're~d upon, and said purchaser shall not be requirefl ~o see to the application-'thereof. 5. A separate sinking fund for said bands is hereby created, to be desig- nated as the '°General Obligation hater .Revenue Bond Fund°t, and shall be kept~by- . - the Treasurer apart from all other funds o£ 'the Village and usedfor no purpose"oth~ than payment of principal and interest on said bonds; provided., that if any pay- ment of principal or interest shall become due.c~hen there is not sufficient money in said fund therefor, the Treasurer shall pay the same from the general fund. of the Village and the general fund shall be reimbursed for such advances out of the amounts thereafter received in such Bond Fund which are not needed for bond principal and interest payments due or about to become due. Into said s~tnking fund shall be paid the receipts of all water system net revenues pledged by the terms of this resolution, any taxes levied with respect to said bonds, and all other moneys received for or appropriated to the payment of said bonds and interest, 6. It is hereby found, determined .and declared that the Village of Lakeville now owns and operates a municipal water. system as a revenue-pr©ducing public utility; that the Village has no bonds or other obligations outstanding which in any way constitute a lien or encumbrance upon the revenues or properties of said water utility; and that the net operating revenue df said water utility, after deducting from the gross receipts derived from charges for the service, use and availability of said water utility, including charges imposed and collected for connection to the utility, the normal, durrent and reasonable expenses of operation and maintenance thereof; will be not less than $ annually, which amount will be available for payment of principal of and interest on the bonds herein authorized to be issued. 7. Pursuant to the provisions of Section 444.075, l+iinnesota Statutes, as amended, the Village of Lakeville hereby covenants and agrees with the holders from time to time of the bonds herein authorized that so long as any of the bonds are outstanding, the Village will. impose and collect reasonable charges for the service, use and availability of said water utility according to schedules sufficient to produce, together with any taxes which might hereafter be .levied - 7- ! ~ H with respect to the bonds herein authorized, net revenues sufficient to pay all principal and interest when due on said bonds, and said net revenues, to the extent necessary, are hereby irrevocably pledged and appropriated to the payment of said bonds and interest thereon. Provided, that nothing herein shall preclude the Village from hereafter making further pledges and appropriations of net revenues of the water utility for payment of additional obligations of the Village hereafter authorized if the Village Council determines before the authorization of such additional obligations that the estimated net revenues of the water utility will be sufficient, together with any other sources pledged to the payment of the outstanding and additional obligations, for payment of the bonds herein authorized and such additional obligations. Such further pledges and appropriations of said net revenues may be made superior or subordinate to, or on a parity with the pledge and appropriations herein made. 8. For the prompt and full payment of the principal of and interest on said bonds as the same respectively become due, the full faith, credit and taxing powers of the Village shall be and are hereby irrevocably pledged. Because the net revenues hereinabove pledged to payment of the bonds herein authorized are now estimated to be sufficient for payment of such bonds as prescribed by Section 475.61, Minnesota Statutes, no ad valorem tax for payment of said bonds need now be levied. However, the Village Clerk and Treasurer shall annually, on or before October 10 of each year, so long as any of the bonds herein authorized are outstanding, report to the Council the sufficiency of the General Obligation Water Revenue Bond Fund hereinabove established, and the Village. Council shall thereupon levy on all taxable property in the Village an ad valorem tax in such amount as may be necessary, with amounts then on hand and to be received in said Bond Fund, for payment of principal of and interest on such bonds when due. 9. The Village Clerk is hereby authorized and directed to file with the County Auditor of Dakota County a certified copy of this resolution, together with such other information as the County Auditor may require, and to obtain from said County Auditor a certificate that the bands have been entered upon his bond register. 10. The officers of the Village and the County Auditor of Dakota County are hereby authorized and directed to prepare and furnish to the purchaser of said bonds, and to the attorneys approving the legality of the issuance thereof, certified copies of all proceedings. and records of the Village relating to said bonds and to the financial condition and affairs of the Village, and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of said bonds as .the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the Village as to the facts recited .therein. /s/ Leo Aronson Mayor /s/ Attest: Marryline Hemetrnm_ Village Clerk s ~ • The motion-for the adoption of the foregoing resolution was duly seconded by Member Sullivan , and upon vote being taken thereon, the following voted in favor thereof: Aronson, Jensen, Sullivan and Taft and the following voted against the same: None whereupon said resolution was declared duly passed and adopted and was signed by the Mayor and. attested by the Village Clerk. -9-