HomeMy WebLinkAbout11-12-1974RECORD OF OFFICIAL PROCEEDINGS OF THE COMMON COUNCIL
CITY OF ROCHESTER, MINNESOTA
November 12', 1974 - 2-00'P-.M. JS-pecial.-Mi eeing .No. 21
Agenda
Item
President Postier.called the special meeting to order the following
members being present: President Postier, Aldermen Kamper, Larson,
Ludowese, McNary, Powers, and Strain. Absent: None.
President.Postier called the meeting to order for the purpose of
awarding the bid for the sale of temporary improvement bonds in the
amount of $1,850,000. and any other business the Council may deem
proper.
Kamper moved, Strain seconded to adopt
Resolution o:`457:awarding
the
low bid to Fi rs.t National .Bank of:
St. --Paul, -Minnesota as ° bi:dder.
offering
the'1owes t net interest cost-at'4:9804%.
. The_si.x bidders
were
as follows: -
Net Interest Rate
I.
American National , St. Paul,
5.3966
2.
Bank Northwest, Minneapolis
5.01333
3.
Northern Trust Co., Chicago, Ill
5.32499
4.
First National Bank, St. Paul
4.9800
5.
Continental Bank, Chicago
5.1950
6.
Goldman Sachs & Co. Chicago
5.2967
Ayes (7), Nays (0). Motion carried.
Having no further business, Larson moved, Powers seconded that the
meeting be adjourned. Ayes (7), Nays (0). Motion carried.
City Clerk