HomeMy WebLinkAbout1957 05-06 CCM Special Session Munites ar the proe"ding of the Village Council
of the Village of Brooklyn Center in the County
of Eee2pin and State of 14nne sots
may 6, 1957
The Village Council met in special session and was called to order
by William N. Super, Mayor, at 8 :20 P.M.
The following members were present: William N. Super, Wayne Gageby,
, Clifford Wellman and Russ Jones.
Carl Carlson,
The Mayor announced that this was the time and place for receipt of
bids for the purchase of $430,000 Sewer and Water Improvement Bonds in accor-
dance with resolutions adopted April 2, 1957 and April 16, 1957•
The Clerk presented an affidavit showing publication of Notice of
Sale in COMMERCIAL WEST, a financial paper published in Minneapolis,
Minnesota, which affidavit was examined and found satisfactory and ordered
placed on file, together with a satisfactory affidavit of publication in the
North Hennepin Post.
The Clerk then presented the sealed bids which had been received
which were opened and examined and found 'to be as follows:
Name of Bidder Interest Ratty AuoUpt of Bid'
1. Kalman & Company, Inc. 4% o n all bonds maturing 111159 $430, 000.00
and Associates to 1/1/69 inclusive; 4.20$ on
those maturing 1/1/70 to 1/1/78
Inclusive,, with additional
interest of 1.706 on all bonds
from July 1, 1957 to July 1, 1958
2. John Nuveen & Company, 3.75% on bonds maturing 1 /1/ 59 to $430,027.50
Inc.,St. Paul, Minn. 1/1/64 inclusive;
Mannbeimer -Egan, Inc. 4,0Oi for bonds maturing
St. Paul, Minnesc# 1 to 1/1/70 inclusive;
Allan Blair & Company 4.10% for bonds maturing 1/1/71
Chicago, Illinois to 1/1/78
Harold E. Wood do Co., plus 1., for the period 7/1./57
St. Paul, Minnesota to 7/'1/58
After due consideration of all of said bids, member Russ Jones
introduced the following resolution and moved its adoption:
BE IT RESOLVED by the Village Council of the Village of
Brooklyn Center, Minnesota, that the Bid of John Nuveen
& Company, Inc. and Associates to purchase $430,000 Sewer
and Water Improvement loads bearing interest at the rate
of 3.75% per annum on all bonds maturing January 1, 1959 to
January 1, 1964 inclusive; 4.00% an bonds maturing January 1,
1965 to January 1, 1970 inclusive; 4.10% for bands maturing
January 1, 1971 to January 1, 1976 inclusive together with an
additional coupon Of 1.5% on all bonds fpr the period from
July 1, 1957 to July 1, 1958, and to pay therefor the sum of
$430,027.;50 is hereby found, determined and declared to be
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the most favorable bid and is hereby accepted.
The clerk is directed to retain the check of said
purchaser and return all other checks to the unsuccessful
bidders forthwith.
The motion for the adoption of the foregoing resolution was duly seconded by
member Wayne Gageby, and upon vote being taken thereon the following voted
in favor thereof: William N. Super, Russ Jones, Wayne Gageby, Clifford
Wellman and Carl Carlson, and the following voted against the same: None;
whereupon said resolution was declared duly passed and adopted.
Member Russ Jones introduced the following resolution and moved
its adoption:
BE IT RESOLVED by the Village Council of the Village of Brooklyn
Center, Minnesota, as follows:
1. The village shall forthwith issue its negotiable Improvement
Bonds in the principal amount of $430,000 dated April 1, 1957 being
430 in number and numbered 1 to 430, both inclusive, in the
denomination of $1000 each bearing interest at the rate of 3.75% per
annum for those bonds maturing January 1, 1959 to January 1, 1964
inclusive; 4% for bonds maturing January 1, 1965 to January 1, 1970
inclusive; 4.10% for bonds maturing January 1, 1971 to January 1, 1978
inclusive plus additional interest at the rate of 1.5% for the
period of July 1, 1957 to July 1, 1958 to be represented by a
separate coupon, said bonds maturing serially in the years and
amounts as follows:
$30,000 on January 1 each year 1959 to 1964 inclusive;
$25,000 on January 1 each year 1965 to 1968 inclusive;
$15,000 on January 1 each year 1969 to 1978 inclusive;
with a prepayment option as follows:
All bonds maturing on January 1, 1969 and thereafter
subject to redemption in inverse numerical order on
January 1, 1963, or any interest payment date thereafter
upon payment as follows:
(1) if redeemed prior to January 1, 1968, at par plus accrued
interest plus a premium of $30.00 for each bond redeemed
(2) if redeemed on January 1, 1968 or thereafter, at par plus
accrued interest only.
2. Both principal and interest shall be payable at the main
office of the American National Bank of St. Paul, St. Paul, Minnesota,
and the village shall pay the reasonable charges of said bank for
its services as paying agent.
3. The bonds and interest coupons to be thereto attached shall
be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
VILLAGE OF BROOKLYN CENTER
No. $1
ImPROVD1ENT BOND OF 1957
KNOW ALL MEN BY THESE PRESENTS That the Village of Brooklyn Center,
Hennepin County, Minnesota, acknowledges itself to be indebted and for
value received hereby promises to pay to bearer out of Improvement
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No. 1957 -A Fund the sum of ONE THOUSAND DOLLARS on the lst day
of January, 19 , and to pay interest thereon at the rate of
percent ( %)
per annum from date to July 1, 1957; percent ( %)
per annum from July 1, 1957 to July 1, 1958; and
percent ( %) per annum thereafter to maturity, payable July 1 1
1958 and semiannually thereafter on the lst day of January and the lst
day of July in each yzar in accordance with and upon presentation and
surrender of the attached interest coupons as they severally become due.
Both principal of and interest on this bond are payable at the main
office of American National Bank of St. Paul St. Paul Minnesota in
any coin or currency of the United States of America which at the date
of payment is legal tender for public and private debts.
All bonds of this issue maturing on January 1, 1969 and
thereafter upon thirty (30) days prior notice by mail to the bank where
the bonds are payable and to the last known holder are subject to
redemption in inverse numerical order on January 1, 1963 or any interest
payment date thereafter upon payment at par plus accrued interest plus
a premium of $30 for each bond redeemed if redeemed prior to January 1,
1968, and if redeemed on January 1, 1968 or thereafter, at par plus
accrued interest only. Holders desiring to receive such notice must
register their names, addresses and bond numbers with the village
clerk.
This bond is one of an issue of bonds in the total principal
amount of $430,000, all of like date and tenor except as to interest
rates, maturity and redemption privilege, all issued pursuant to and
in full conformity with the Constitution and Laws of the State of
Minnesota, including Chapter 398, Laws of Minnesota. 1953, as amended,
for the purpose of defraying the expenses incurred and to be incurred
in special improvements of the village, and is payable primarily from
special assessments to be levied against property specially benefitted
thereby but constitutes a general obligation of the village, and to
provide moneys for the prompt and full payment of said principal and
interest as the same become due the full faith and credit of the
village is hereby irrevocably pledged and the village will levy ad
valorem taxes if required r purpose without limitation as to
q d fo such p ur p
rate or amount.
IT IS HEREBY CERTIFIED AND RECITED That all acts, conditions
and things required by the Constitution and Laws of the State of
Minnesota to be done, to happen, and to be performed precedent to
and in the issuance of this bond have been done, have happened and
have been performed in regular and due form, time and manner as
required by law; and that this bond together with all other indebtedness
of the village outstanding on the date hereof and the date of its
actual issuance and delivery does not exceed any constitutional or
statutory limitation thereon.
IN WITNESS WHEREOF, the Village of Brooklyn Center, Hennepin
County, Minnesota, by its Village Council, has caused this bond to be
signed by the Mayor and the Village Clerk and sealed with the corporate
seal of the village and the interest coupons hereto attached to be
executed and authenticated by the facsimile signatures of said officers,
all as of April 1, 1957.
II I Mayor
Village Clerk
( Seal )
.3_
e
(Form of Coupon)
No. $ •
On the 1st day of January (July), 19 , the Village of Brooklyn
Center, Hennepin County, Minnesota, will pay to bearer out of Improvement
No. 1957 -A Fund at the main office of American T'ational Bank of
St. Paul, St. Paul, Minnesda., the sum of DOLLARS,
being the installment of interest then due on its Improvement Bona dated
April 1, 1957, No.
mayor
Village Clerk
4. The Clerk is directed to cause said bonds to be prepared, and
the Clerk and Mayor are authorized and directed to execute the same and
affix the village seal thereto and to cause the interest coupons to be
executed and authenticated by the printed facsimile signatures of said
officers.
5. The bonds issued hereunder shall be payable from Improvement
No. 1957 -A Fund heretofore created, provided that if ,any payment of
principal or interest shall become due when there is not sufficient money
in said fund to pay the same, the treasurer shall pay such principal or
interest from the general fund of the village and such fund shall be
reimbursed for such advances out of proceeds of assessments for said
improvement when collected. All proceeds of said bonds and assessments
shall be credited to said Improvement No. 1957 -A Fun6.
6. The estimated collection of special assessments and other
revenues pledged for the payment of said bonds will produce at least
five percent in excess of the amount needed to meet, when due, the
principal and interest payments on the bonds and no ad valorem tax levy
shall be made. The Clerk shall deliver a certified copy of this
resolution to the County Auditor of Hennepin County and obtain his
certificate as required by Section 475.63, Minnesota Statutes.
7. The said bonds when fully executed shall be delivered by the
Treasurer to the'purchaser thereof upon receipt of the purchase ,
and the said purchaser shall not be obligated to see to the proper
application thereof.
8. The Clerk and Treasurer are authorized and directed to prepare
and furnish to the purchaser and to the attorneys approving said issue,
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certified copies of all proceedings and records relating to issuance
the
of said bonds and to the right, power and authority of the village and
its officers to issue the same and said certified copies and certificates
shall be deemed the representations of the village as to all matters
stated therein.
The motion for the adoption of the foregoing resolution was duly seconded by
member Wayne Gageby, and upon vote being taken thereon the following voted
in favor thereof: William N. Super, Clifford Wellman, Wayne Gageby, Carl
Carlson, and H. R. Jones; and the following voted against the same None;
whereupon said resolution was declared duly passed and adopted.
i
Member Russ Jones introduced the following resolution and moved
Its adoption:
RESOLUTION POSTPONING ACTIN
ON PROPOSED IMPROVEM0T 1957.18
BE IT RESOLVED by the Village Council of the Village of Brooklyn
Center, Minnesota, as follows:
1. That the Village Council postpone action on the public
hearing on Sanitary Sewer Improvement Project No. 1957 -18,
sanitary sewer on Osseo Road from 66th Avenue North to 69th
Avenue North, until a future date.
The motion for the adoption of the foregoing resolution was duly seconded by
member Wayne Gageby, and upon vote being taken thereon the following voted in
favor thereof: William N. Super, Clifford Wellman, Carl Carlson, Wayne
Gageby, and Russ Jones; and the following voted against the same: None;
whereupon said resolution was declared duly passed and adopted.
Member Russ Jones introduced the following resolution and moved its
adoption:
RESOLUTION POSTPONING ACTION
ON PROPOSED IMPROV34M 1957 -19
BE IT RESOLVED by the Village Council of the Village of Brooklyn
Center, Minnesota, as follows:
1. That the Village Council postpone action on the public
hearing on Water Main Improvement Project 1957 -19, water main
on Osseo Road from 66th Avenue North to 69th Avenue North, until
a future date.
The motion for the adoption of the foregoing resolution was duly seconded by
member Wayne Gageby and upon vote being taken thereon the following voted in
favor thereof: William N. Super, Clifford Wellman, Carl Carlson, Wayne 0ageby,
and Russ Jones; and the following voted against the same: None; whereupon
said resolution was declared duly passed and adopted.
Motion by Russ Jones and seconded by Wayne Gageby that Harold Bwulay,,
as Civil Defense Director, is to close out the present Brooklyn Center Civil
Defense account and turn the fund over to the Village; providing this transfer
is made, the Civil Defense ` authorised to purchase a
truck chassis, price not to exceed $499. Motion carried.
Motion made by Wayne Gageby and seconded by Russ Jones that the
Village Council authorize Hanley, Zimmerman, and Moen to act as consulting
accountants to Dale F. Curvy, Village Accountant. Motion carried.
Clifford Wellman left the meeting at this point.
Motion made by Russ Jones W seconded by Wayne Gageby that the
Village Council accept the Justice report of Raymond Benson for the month of
April, 1957. Motion carried.
Member Carl Carlson introduced the following ordinance and moved its
adoption:
AN ORDINANCES AMENDING THE ZONING ORDINANCE
OF THE VILLAGE OF BROOKLYN CENTER BY
DESIGNATING CERTAIN LAND AS C TAE.
Y AI ■ .Irk
THE VILLAGE COUNCIL OF THE VILLAGE OF BROOKLYN CEO DO ORDAINS
AS FOLLOWS:
1. The Zoning Ordinance of the Village of Brooklyn Center is
hereby amended by zoning the following described land to commercial
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and adding said description to Section 35 -217 of said ordinance:
All thht pert of hots 11 and 12, Auditor's
Subdivision #25, Hennepin County, Minnesota, lying
South of aline that is parallel to the South line
of said Lot 12 and 690' North of, measured at right
angles to said South line; and lying West of the
East line of the Northwest quarter of the Southeast
quarter. Except that portion taken for 63rd Avenue
North on the South side thereof and that portion
taken for Osseo Road or State Highway #152 on the
Southwesterly side thereof.
2. This ordinance shall take effect from and after its
publication.
The motion for the adoption of the foregoing resolution was duly seconded by
member Russ Jones and upon vote being taken thereon the following voted in
favor thereof: William N. Super, Carl Carlson, Wayne Cageby, and Russ Jones;
and the following voted against the same: None; whereupon said resolution
was declared duly passed and adopted.
Motion made by Russ Jones and seconded by Wayne Gageby to adjourn.
Motion carried.
Mayo
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