HomeMy WebLinkAbout05-25-83 ~ ~ •
CITY OF LAKEVILLE SPECIAL COUNCIL MEETING
May 25, 1983
The meeting was called to order at 5:00 p.m. by Mayor Zaun. Roll call
was taken. Present: Councilmembers Nelson,. Enright, Harvey, Sindt, and
Mayor Zaun. Also present: Patrick McGarvey, City Administrator/Clerk
and Robert Pulscher from Springsted, Inc.
At this time, Mr. Pulscher presented the bid received on the sale of
G.O. Improvement Refunding Bonds of 1983, $1,925,000 and the G.O.
Improvement Bonds of 1983; $1,400,000, and the General Obligation
Municipal Building Bonds of 1983, $795,000, and finally, the General
Obligation Equipment Certificates of Indebtedness of 1983, $225,000.
Mr. Pulscher explained that the reason for the single bid was due to
change in market factors in the municipal bond market during the previous
10-day period when .the market was flooded with bond issues and tha
recent decision by the SanJose Municipal School District that the default
on bonds as well as some power plant bond issues in the northwest part
of the United States. This had made investors cautious.
After discussion, it was Mr. Pulscher's recommendation that the City
Council accept the bid received on the bonds and award the sale.
83.190 Motion was made by Enright, seconded by Sindt to adopt Resolution No.
83-48 awarding the sale of the G.O. Equipment Certificates of Indebtedness
of .1983, $225,000, to Northwest Securities, The First National Bank of
St. Paul, Merrill Lynch White Weld Capital Markets Group,and Associates,
in association with First National Bank of Minneapolis, Allison-Williams.
Company and Associates.
Roll call was taken on the motion, Ayes, Zaun, Nelson, Enright, Sindt, Harvey.
83.191 Motion was made by Enright, seconded: by Nelson to adopt Resolution No.
83.-,49 awarding ,the sale of the G®0. Municipal Building Bonds of 1983,
$795,000, to Northwest Securities, The First National Bank of St, Paul,
Merrill Lynch White Weld Capital Markets Group and Associates, in
association-with First National Bank of Minneapolis, Allison-Williams
Company and Associates.
Roll call was taken on-the motion. Ayes, Nelson, Enright, Sindt, Harvey, Zaun.
83.192 Motion was made by Nelson, seconded by Sindt to adopt Resolution No.
83-50 awarding the sale of G.O. Improvement Bonds of 1983, $1,400,000,
to Northwest Securities, The First National Bank of St. Paul, Merrill
Lynch White Weld Capital Markets Group and Associates, in association
with First National Bank. of Minneapolis, Allison-Williams Company and
Associates..
Roll call was taken on the motion. Ayes, Enright, Sndt, Harvey, Zaun, Nelson.
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CITY OF LAKEVILLE SPECIAL COUNCIL MEETING
May 25, 1983
83.193 Motion was made by Enright, seconded by Sindt to adopt Resolution No.
83-51 awarding the sale of the G.O. Improvement Refunding Bonds of 1983,
$1,925,000, to Northwest Securities, The First National Bank of St. Paul,
Merrill Lynch White Weld Capital Markets Group and Associates, in
association with First National Bank of Minneapolis, Allison-Williams
Company and Associates.
Roll call was taken on the motion. Ayes, Harvey, 5indt, Zaun,. Nelson, Enright.
83.194 Motion was made by Sindt, seconded by Nelson to adjourn .the special council
meeting.
Roll call was taken on the motion. Ayes, Sindt, Zaun, Nelson, Enright, Harvey.
Time: 5:57 p.m.
Respect ully submitted,
atrick E. McGar'vey, ity Cler
Duane Zaun, May
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CITY OF LAKEVILLE
AGENDA
SPECIAL COUNCIL MEETING
Wednesday
May 25,.1983
x:00 P.M.
City Hall
1. Roll call.
2. Open bids on the sale of the following bonds and equipment
certificates, collectively referred to as the "Issues".
- General Obligation Improvement Refunding Bonds of 1983,
$1,925,000;
- General Obligation Improvement Bonds of 1983, $1,400,000;
General Obligation Municipal Building Bonds of 1983,
$795,000;
General Obligation Equipment Certificates o£ Indebtedness
of 1983, $225,000,
a. Adopt resolution awarding the sale of the issues.
3. Adjourn.