HomeMy WebLinkAbout06-03-1969Record of Official Proceedings of the Common Council
271
of the City of Rochester, Minn., June 3, 1969
1
•
1
�I
1
Minutes of an adjourned regular meeting of the Common Council of the City of
Rochester, Minnesota held in the Council Chambers, in the City Hall, in said City on
June 3, 1969., .
President DeVries called the meeting to order at 12:00 o'clock noon, the following
members being present: President DeVries, Aldermen Cherland,: Ludowese and Strain.andi:Larson
Absent: Aldermen Folkert and Postier.
President DeVries stated this as being the time and place set for receiving bids
for the sale of $2,000,000 Public_Utility Revenue Bonds of 1969.
The City Clerk presented affidavits showing publication of notice of sale of
$2,000,000 Public Utility Revenue Bonds of 1969 to be dated as of July 1, 1969, in accor
with the resolution providing for such sale at this time and place adopted May 19, 1969.
affidavits were examined and found satsifactory and.directed to be.placed on file in.the
office of the Clerk.
The Clerk reported that three sealed bids for the purchase of said bonds had been
received at her office prior to noon on this date, which bids .were thereupon opened and 1;
I'
publicly read and considered, and the highest and best bid of each bidder was found to be
I;
as follows:
I
Name and Address of Manager Interest Rate
of Bidding Account
or Rates Premium
1. Bear Stearns & Company 5.654%
i'
2. Piper, Jaffray & Hopwood 1!
Allison Williams Company
P Y l
Dail, Kalman & Quail, Inc. �+
Juran & Moody, Inc.
Paine, Webber, Jackson & Curtis
E. J. Prescott & Co. 5.892%
3. Smith Barney & Co. 5.3911% j
Alderman Strain then introduced a resolution awarding sale of $2,000,000 Public
Utility Revenue,Bonds of 1969 to Smith Barney & Company. Aldereman Cherland moved the adoption
of the said resolution and Alderman Ludowese duly seconded said motion and upon vote being
taken thereon the following Aldermen voted in Favor thereof - Cherland, Ludowese, Strain and
Larson and DeVries; .no oner-moted against,.so President DeVries declared the said resolution
duly passed and adopted.
A petition requesting that parking be forbidden on both sides of 2nd Avenue S. W.
and the corner of 14th Street S. W. in and around Mill Fabric only to eliminate noise and
traffic congestion for the residential area immediately across the street, was read and upon
'i
motion by Strain, second by Cherland, and all present -:.voting in.favor, the petition was referred;
to the Public Safety Committee.,
Upon motion by Larson, second by Cherland, and.all present voting in favor, the
meeting was adjourned until 7:30 o'clock P. M. on June 16, 1969..
City Clerk
0