HomeMy WebLinkAbout1911-08-08 CC MIN
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COUIlC 1). ROOlll,
Gtl11W&1.Bf, 1.1m!. Au;::uat. 6th 1'111.
spec 1'.11 uee: ug; ;
-" -,resent. .AIClor1(ll.;n Ber~:lunti, Bordl'iell, Cil'lslJr, Johnson, Kelm, llosler,Byarl,
iiells fllli Pres1dent Klng (l.J).
Gall. renel as folloWS;
To the HOnor!lble, the uembers or the C1ty Counc1l ot" the City ot Stlllwater,
and to Ch~S. A. Lar~rs. City ClerK.
Gentlemen;
In accordrallce w1th the !i.utllorlU' vested 1n lie bY the Ch&rter ot
tbe City or ttll1water.I, C&rl W. BrenI~r. ll~yor of the C1ty of ftl11water, dO herebY
c"'l1 a spac1"'l ...eUr,g 01' \he City councll 01' S"1d cay \c be held in \he councll
room 111 tho Clt1 Hall of s.~1d City on August 8tb 1'111, at. 1;30 o.eloct. P. Il.
The pw'pose of wh1ch saW IWdt1l'lg 1s called is to open 'ind consider such bldS 88
mal be SOJ.blriltted. for .~O.OOO.OO 01' Refuudlm; Bond.8 of the C1tY ot Ct.111water,wh1cb
s~14 btmd8 €ore ClOre fUJ.lY descr 11Jad 1n tbe J.advert1Sement for \l1dS Wh1ch h!.ls been lQ!1d6
1n ~c~d~nce w1th th~ resolut1on of the C1tY counc1l adopted en t,ho 20t.h day ,t
JulY .1'111, and 'Lo accept. or re;tect. the same, ~nd t.o t.e.1te such ot.her or turf,ber e.ct1on
111 corlnect.lon t.herew 1t.h !a8 ~y seem neclss!U"Y or proper.
Dated ~t. Et11lwn'Ler. K1nne.eta th1S 2nd day o~ August. 1911.
oarl 7.. Brenn8r,uayor.
on mot.1on of Alderm&D Gl~Ber t.he C1ty Clerk ~B 1nstruct.ed to OpeD the sealed
bldB 1n h1s h~ndS, whlch were Q8 follOWSi
Bid. ot A. s. K8an & co.. of ChlC&f:O w~~s as followSi
For tll6 \:90,000.0051' 30 ye',r ref'Jncllnc boncls \:104.00 or 1l93.600.00,wh1ch b14
cUd not cOllaplY with the l"e'lu1rement.s of the not1l;e.
.~d at cutt.Jr,Kay & company. of Chlc~co, was a8 follows;
For the :j;90,OOO.OO ,3D ye!U' refunding boncle. ~ 3Jl! per cen\ wh1ch bid did no\
complY tilth tbe reQu1rements ot the noUce.
counc1l tOOk !1 recess and upon reconven1ng 1t was decided tnat.,1nasmuch 88
t.here lI!1S present 8 Dutcber of representat1ves of BarD and Bond purch9.S1n& firms,
t.hat open cOJupetat1Ve tldS be received ,Whlch was approved bY the S51d. representa-
tlveS present.
The followlng b'.Jnd purchaslng 1"1rms ~md b!1nXBWere represenled.
F1rst Nat10n'll. );flnlt of ~;t111wQ.ter, :alnn.
unlon Invest.nl8nt co., ot Ulnneapol1s, H1nn.
:ll1nIl6s0t.a. 1.oan IlIml TrUst. Co., of :..;.1nrleap0l1a, :M1nn.
"fellS & L1cKS,. co., of U1nrl.85pol1a, JUlin.
?'ood1n, UcNe~ 3: 1400re or Ch1CElgo, Ill.
N. 11. ri81soy & co. or Ch1c5HO, Ill. each hr..v1nl; before b1d.d1n& d.epoSlted a properlY
cert1r~:l cheque ror ':'1800.00 .
Bldd 1l'!C was entered lIlto,start1ng w1th IlJl offer of ~150.00 prem1um on the whole 1Ssue
at 5~ and contlrued untll The F1rst U&tlon~~l BanY.. 01" ,ftlllnter b14 thOOO.oo whIch was
t.he h1g11es 1. b 1<1 ",n"ered.
counc:lJ. t.oo':' a recess and upon reconven1ng tbe Finance COr.'Jfilt.tee recoJllIMnded
to tho co'.ncl1 that they o.ccept t.l1B bt4 of' the :?1rst N~tlon8l BanK, they to pay tor
all expenses 1Jlcurred 1r. prepnr1rl(; s~1a bondS, sOd on mot.1on 01" Alderlll9n ]lOS1er the
bOJidB were !lwl11'ded to tbll I>'tret Ue.t.lonBl Bllnk of Stl11w9.ter ln 8ccordf";nCf~ w1t.b the1r
b1d, and. o.:U otller b1dS were reJected.
On mot.lon ot AldcrlMAn Berglund counc11 !id~ourIled.
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At tes t ;ft2.kt4~'tl6aH":~ijL t.... /
City Cl..I<.
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Prea1dent 01' the ,ctW'counr.ll.
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