HomeMy WebLinkAbout02-09-1970Record of Official Proceedings of the* Commoii- Council
of the City of Rochester, Minn., February 9, 1970
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Minutes of an adjourned regular meeting of the Common Council of the City.of
Rochester, Minnesota, held in .the City Hall in said City on February 9, 1970.
President DeVries called the meeting to order at 12:00 o'clock noon, the
following members being present: President DeVries, Aldermen Cherland, Folkert, Larson,
Ludowese, Postier and Strain. Absent: None.
Notice was given for the sale of $335,000 Parking Revenue Bonds for the City
of Rochester, said bids to be received prior to 11:00 o'clock A. M. on February 9, 1970
but no bids were received.
The three bids of Dain, Kalman & Quail; Piper, Jaffrey & Hopwood; and E. J.
Prescott & Company were received after 1I:00 A. M. President DeVries asked if there was
anyone else present wishing to submit bid; there was no one. A motion was then made
by Postier, second by Larson, that the three bids be accepted and opened to negotiate the
sale of the.purchase of the bonds; all voted in favor.
The three following
bids were received and opened:
Net intErest cost
Net
interest rate
Piper, Jaffray & Hopwood
Incorporated
$152,954.00 1971
thru
1976 6.25%
1977
thru
1979 6.50%
1980
thru
1981 6.60%
6.75293%
Dain, Kalman & Quail, Inc.
Allison -Williams Company
E: J. Prescott & Company
Paine, Webber, Jackson & Curtis
Juran & Moody, Inc.
$153,945.00 1971
.thru
1975
6.30%
•1976
thru
1977
6.50%
1978
thru
1981
6.60%
6.796689%l
$146,968.15 1971
thru
1972
5.60%
• 1973
thru
1974
5.80%
1975
thru
1976
6.00%
1977
thru
1978
6.20%
1979
6.30%
1980
6.40%
1981
6.50%
6.4886
Upon motion by Folkert, second by Larson,. and all present voting in favor, the bids were
referred to the Finance Director for tabulation.
A resolution requesting -the Charter Commission to consider recommending to the
the Common Council the adoption by ordinance pursuant to Minnesota Statutes, Section 410.3
of the following charter amendments, was read:
1. Amend Section 98 of the Charter to read as follows:
"Section 98. No ordinance shall be passed by the Common Council
until it has had two public readings, either in full or by title
and description, and at least 25 days shall elapse between
readings, except that on unanimous consent of all members present
at the time of the second reading, which shall be noted in the
record, the second reading may be given on the day of introduction
or on any other day."
2. Amend Section 107 of the Charter to read as follows:
"Section 107. The Common Council may create such departments and
offices for the administration of'the city's affairs as it may deem
necessary, and from time to time mat alter their duties and
organization. The Common Council may abolish or combine departments
and offices as it sees fit in the same manner in which they were
created. Appointment and removal of the city attorney, city clerk,
director of finance, and department heads shall be made final only
by majority vote of the Common Council. The Common Council may
delegate the appointment and removal of such other officers and
employees as it sees fit. All appointments shall be for an
F'496 Record of Official Proceeding s of the Common. Council
of the City of Rochester, Minn., February 9, 19 70
indefinite period, and all appointments and.removals shall
be on such terms and conditions as the Common Council may
provide, subject to applicable provisions of this charter
and state law."
3. Repeal Sections 114 through 122 of the Charter in their
entirety.
Upon motion by Larson, second by Cherland, and all voting in favor, the resolution was
adopted as read.
Alderman Ludowese said that people were concerned and saying that the
Council is giving up their duties as elected officials by making these changes and felt they
should be assured that the Council is not abdicating their authority or responsibilities but
are only attempting to streamline and make our government more efficient; the Council still
retains the legislative and administrative authority.
A resolution appointing election judges and designating polling places
for the year 1970 was read and upon motion by Postier, second by Cherland, and all voting in
favor, the resolution was adopted as read.
Mr. Edward Moline, Finance Director, reported that the bids for sale of
bonds had been checked and that the bid. of E. J. Prescott & Company was low and recommended its
acceptance.. A resolution awarding the sale of $335,000 Parking Revenue Bonds to E. J. Prescott
& Company was read and upon motion by Cherland, second by Strain, and all voting -in favor, the
resolution Baas adopted as read.
Upon motion by Larson, second by Postier, and all voting in favor, the
meeting was.adjourned until 7:30 o'clock P. M. on February 16, 1970.
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City Clerk
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