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HomeMy WebLinkAbout1965-232 CCR Trustee John Leary introduced the following resolution and moved its adoption: RESOLUTION NO. 65 -232 A RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $190,000 LIBRARY BONDS AND $345,000 IMPROVEMENT BONDS WHEREAS, at an election held in the Village on May 5, 1964, more than the requisite majority of the qualified voters of the Village voted in favor of the issuance and sale of $190, 000 bonds to provide money to con struct and equip a library building, and WHEREAS, the council has caused plans to be prepared and approved for the construction of said building, and WHEREAS, the council has determined that the issuance of bonds in the amount of $190, 000 will provide funds for the construction and equipping of said building, and WHEREAS, the Village has heretofore undertaken the following local improvements and contracts have been let and the total cost has been determined to be as follows: Name of Improvement and Project Number Total Cost Sanitary Sewer: Lyndale, 61st to 62nd and 300' W on 62nd 1964 -18 6,464.64 Xerxes #100 to 1,986' No. 1964 -25 14,105.17 Queen 54th to 380' So. No. 1964 -28 3,123.40 Washburn 59th, Washburn to Xerxes and Xerxes No. 1964 -58 14,417.19 $38,110.40 Water: Ewing, 65th to 66th, Drew 65th to 66th France to Ewing, Ewing to Chowen No. 1964 -34 $14,477.56 Bryant, 65th -67th, 67th Dupont to Bryant No. 1964 -39 11,492.58 Lyndale, 69th to 73rd No. 1964 -40 19, 657.84 S.E. Tangletown No. 1964 -42 13, 077.27 $58,705.25 Street, Curb Gutter: Osseo Road- No. 1964 -6 $39,757.53 $39,757.53 r Resolution No. 65 -232 Name of Improvement and Project Number Total Cost Street Surfacinq: Northport Dr. and France No. 1964 -47 7,535.76 Ewing, Drew 66th No. 1964 -46 9,561.65 49th, 50th, Beard, Abbott, Zenith, Dusharme Dr. No. 1964 -48 20,204.94 Queen, Penn, 54th, 53rd No. 1964 -49 14, 185.86 56th, James to Irving No. 1964 -51 33, 548.35 Humboldt Avenue No. 1964 -52 3,847.52 Emerson Ave., 65th Ave. No. No. 1964 -53 3,695.59 Bryant No. 1964 -54 7,257.20 Dupont Avenue No. No. 1964 -55 5,578.45 June, 70th No. 1964 -57 6,062.66 $111,477.98 Sanitary Sewer: 57th Avenue No. Lilac Dr.- 1965 -34 $11,698.83 $11,698.83 Water: Brookview Dr. Hillsville Rd. No. 1965 -9 9,886.52 Ericon Dr., Lilac Dr. No. 1965 -10 9,661.08 Lilac Dr. 57th, Logan, 59th No. 1965 -11 34, 602.44 James, Irving, 53rd No. 1965 -12 21,769.14 Co. Rd. #10, Admiral Lane, Drew, Northport Dr. No. 1965 -14 21,228.88 Halifax Avenue No. 1965 -15 7,811.35 Knox Ave., 53rd, Logan No. 1965 -19 18,965.80 Knox, 55th to 59th No. 1965 -20 17,227.29 $141,152.50 Storm Sewer: Ericon Dr., Hillsview Rd. No. 1965 -29 $20,796.97 $20,796.97 Grand Total $421,699.46 and, WHEREAS, more than 20% of the cost of each of said improvements will be assessed against property specially benefited thereby, and the Village Council is authorized to issue general obligation improvement bonds in the amount of $345,000 to provide money to pay the cost of said improvements, NOW, THEREFORE, BE IT RESOLVED By the Village Council of the Village of Brooklyn Center, Minnesota, as follows: 1. The Village Council deems it necessary and expedient to issue the negotiable coupon Library Bonds of the Village in the amount of $190,000, dated January 1, 1966, bearing interest at the rate or rates designated by the successful bidder, payable January 1, 1967, and semiannually thereafter on January 1 and July 1 in each year, which bonds shall mature serially on January 1 in the amount of $10,000 in each of the years 1967 to 1985, both Resolution No. 65 -232 inclusive, all bonds maturing after January 1, 1979, being subject to redemption on said date and any interest payment date thereafter, in inverse numerical order, at par and accrued interest. 2. The Village Council deems it necessary and expedient to issue the negotiable coupon Improvement Bonds of the Village in the amount of $345,000, dated January 1, 1966, bearing interest at the rate or rates designated by the successful bidder, payable January 1, 1967, and semiannually thereafter on January 1 and July 1 in each year, which bonds shall mature serially on January 1 in the years and amounts as follows: $30,000 in each of the years 1967 to 1971, both inclusive; $20,000 in each of the years 1972 and 1973; $15,000 in each of the years 1974 to 1978, both inclusive, and $10,000 in each of the years 1979 to 1986, both inclusive, all bonds maturing after January 1, 1979, being subject to redemption on said date and any interest payment date thereafter, in inverse numerical order, at par and accrued interest. 3. The Village Council shall meet at the Village Hall on Monday, the 13th day of December, 1965, at 8 :00 O'clock P.M. for the purpose of receiving and considering sealed bids for the purchase of said bonds and the clerk shall cause notice of sale to be given by publication at least ten days in advance of the date of sale in the official newspaper of the Village and in Commercial West, a financial paper published in Minneapolis, Minnesota. Said notice shall recite that the Village will furnish printed bonds and approving legal opinion of Messrs. Howard, Peterson, LeFevere, Lefler and Hamilton, Minneapolis, Minnesota, both without expense to the purchaser; shall require sealed bids accompanied by a good faith check in the amount of at least 2% of the bid; shall state that all bids shall state rate or rates of interest in multiples of one quarter or one -tenth of one percent and may provide for additional interest in an amount not exceeding 1% of the principal amount, and shall state that the bonds will be payable at any suitable bank designated by the purchaser and that delivery will be made within forty days after the date of sale. November 22, 1965 Date v Mayor ATTEST: Clerk The motion for the adoption of the foregoing resolution was duly seconded by Trustee Phil Cohen, and upon vote being taken thereon, the following voted in favor thereof: Gordon Erickson, Phil Cohen, John Leary and Earl Simons, and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.