HomeMy WebLinkAbout1978-12-05 CC MIN•
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COUNCIL CHAMBER
Stillwater, Minnesota December 5, 1978 4:30 P. M.
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SPECIAL MEETING
The meeting was called to order by President Junker.
Present: Councilwoman Bodlovick, Councilmen Mahoney, Peterson, Powell
and Mayor Junker
Absent: None
Also Present: City Finance Director - Coordinator, Kriesel
City Clerk - Schnell
City Attorney - Magnuson
City's Bonding Consultant - Ron Langness
Representatives - Local No. 49 and Monroe Wood
The Clerk presented affidavits showing publication in the official newspaper
and in the Commercial West of notice of sale of $1,050,000 Improvement Bonds
of 1979 of the City, for which bids were to be considered at this meeting
as provided by resolution adopted November 14, 1978. The affidavits were
examined and approved and ordered placed on file. The Clerk reported that four
sealed bids for the purchase of the bonds had been received at or before the
time stated in the notice. The bids were then ppened, publicly read and
tablulated and found to conform to the notice of sale; and the terms of each
bid were found to be as follows:
BIDDER COUPONS PRICE NET INTEREST
COST & RATE
BANCNORTRWEST 5.50% 1981 -90 $1,039,729.00 $726,279.38
Cronin & ¥r - 5.8511 %)
5.60;; 1991
First National Bank
& Trust Company 5.65% 1992
Oklahoma City 5.70% 1993
Northwestern State 5.75% 1994
Bank, Stillwater 5.80% 1995
5.907, 1996
6.00% 1997 -2000
THE FIRST NATIONAL BANK
OF ST. PAUL 5.40% 1981 -88
Carleton D. Beh Calpany 5.50% 1989 -90
First National Bank of 5.60h 1991
Minneapolis 5.65% 1992
Merrill Lynch White Weld 5 707, 1993
Capital Market Group 5.80% 1994
5.90% 1995
6.00% 1996 -2000
ALLISON - WILLIAMS CO. 5.40% 1981 -89
Dein, Kalman & Quail, Inc. 5.50% 1990
Piper, Jaffray & Hop- 5.60% 1991
;wood, Inc. 5.70% 1992
5.75% 1993
5.80% 1994
5.90% 1995 -96
6.00% 1997 -2000
AMERICAN NATIONAL BANK
& TRUST COMPANY 5.60% 1981 -90
Paine Webber Jackson & 5.657 1991
Curtis 5.70% 1992
Robert S. C. Peterson, 5.80% 1993
5.907 1994 -95
Inc. 6.00% 1996
6.10% 1997 -98
6.20% 1999 -2000
$1,037,169.00 $728,845.09
(5.8718 %)
$1,036,182.00 $729 29
135.
$1,039,125.00 $741,382.70
1 Councilperson Powell introduced the following resolution and moved its adoption:
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December 5, 1978
RESOLUTION NO. 6589
RESOLUTION AUTHORIZING, SELLING AND ESTABLISHING THE TERMS OF
1,050.000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1979, AND
$ FOR THEIR PAYMENT.
The motion for the adoption of the foregoing resolution was duly seconded
by Councilperson Peterson, and upon vote thereon, the following voted in
favor thereof:
All members
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.
LOCAL NO. 49 UNION CONTRACT
Following the bid opening the Council met very briefly with the Business
Agent and representatives of Local No. 49.
The meeting adjourned at 5:15 P. M.
Attest:
J Citerk
Mayor
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COUNCIL CHAMBER
Stillwater, Minnesota
SPECIAL MEETING
December 5, 1978 4:30 P. M.
The meeting was called to order by President Junker.
Present: Councilwoman Bodlovick, Councilmen Mahoney, Peterson, Powell
and Mayor Junker
Absent: None
Also Present: City Finance Director - Coordinator, Kriegel
City Clerk - Schnell
City Attorney - Magnuson
City's Bondang Consultant - Ron Langness
Representatives - Local No. 49 and Monroe Wood
The Clerk presented affidavits showing publication in the official newspaper
and in the Commercial West of notice of sale of $1,050,000 Improvement Bonds
of 1979 of the City, for which bids were to be considered at this meeting
as provided by resolution adopted November 14, 1978. The affidavits were
examined and approved and ordered placed on file. The Clerk reported that four
sealed bids for the purchase of the bonds had been received at or before the
time stated in the notice. The bids were then ppened, publicly read and
tablulated and found to conform to the notice of sale; and the terms of each
bid were found to be as follows:
BIDDER COUPONS
5.50% 1981 -90
5.60% 1991
BANCNORTHWEST
Cronin & lV €cotte,
First National Bank
& Trust Company 5.657, 1992
Oklahoma City 5.70% 1993
Northwestern State 5.75% 1994
Bank, Stillwater 5.807, 1995
5.90% 1996
6.00% 1997 -2000
THE FIRST NATIONAL BANK
OF ST. PAUL 5.407. 1981 -88
Carleton D. Beh Company 5.50% 1989 -90
First National Bank of 5.60% 1991
Mixmeapolis 5.65% 1992
Merrill Lynch White Weld 5 707. 1993
Capital Market Gros? 5.80% 1994
5.90% 1995
6.00% 1996 -2000
ALLISON - WILLIAMS CO 5 407. 1981 -89
Win, Kalman & Quail, Inc.5.507 1990
Piper, Jaffrey & Hop- 5.60% 1991
wod, Inc. 5.70% 1992
5.75% 1993
5.80% 1994
5.90% 1995 -96
6.00% 1997 -2000
AMERICAN NATIONAL BANK
& TRUST COMPANY 5.60% 1981 -90
PaineWebber Jackson & 5.657. 1991
Curtis, Inc. 5.70% 1992
Robert S. C. Peterson, 5.80% 1993
Inc 5.90% 1994 -95
6.00% 1996
6.10% 1997 -98
6.20% 1999 -2000
PRICE
$1,039,729.00
Councilperson Powell introduced the following resolution and moved its adoption:
NET INTEREST
COST & RATE
$726,279.38
(5.8511 %)
$1,037.169.00 8728,845.09
(5.87187.)
$1,036,182.00 $729,135.29
(5.8742 %)
$1,039.125.00 $741,382.70
(5.9728 %)
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All members
December 5, 1978
RESOLUTION NO. 6589
RESOLUTION AUTHORIZING, SELLING AND ESTABLISHING THE TERMS OF
$1,050,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1979, AND
PROVIDING FOR THEIR PAYMENT.
The motion for the adoption of the foregoing resolution was duly seconded
by Councilperson Peterson, and upon vote thereon, the following voted in
favor thereof:
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.
LOCAL NO. 49 UNION CONTRACT
Following the bid opening the Council met very briefly with the Business
Agent and representatives of Local No. 49.
The meeting adjourned at 5:15 P. M.
Attest: ocl .P 4,4L(
City erk
Mayor
eal
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