HomeMy WebLinkAbout11-15-19831
RECORD OF OFFICIAL PROCEEDINGS OF THE COMMON COUNCIL
CITY OF ROCHESTER, MINNESOTA
Adjourned Meeting No. 18 - November 15, 1983
Agenda
Item
A-1 President Postier called the meeting to order at 2:30 P.M., the
following members being present: President Postier, Aldermen Allen,
Bluhm, Powers, Solinger and Strain. Absent: Alderman Duffy.
E-1 Solinger moved, Allen second to adopt Resolution No. 655-83 Relating
to accepting the low bid on sale of $16,000,000.00 General Obligation
Park and Recreation System Bonds of 1983 and Providing for their
issuance. The low bid was First Bank of St. Paul with a net interest
rate of ..7.•6366. The Net Interest Dollar cost is $7,898,190. Ayes
(6), Nays (0). Motion carried.
owers moved, Bluhm second to adopt Resolution No. 656-83 Authorizing
he Issuance Awarding the Sal.e, prescribing the form and details
nd providing for the payment of $5,535,000. General Obligation
�x-Increment Refunding Bonds in 1983 and $1,775,000. General Obligatioi
ax Increment Bonds of 1983. Low bidder on the $5,535,000 was First
ank of St. Paul and the Net Interest rate -.is 8.7175. The Low bidder
n the $1,775,OQO. is First Bank of St. Paul and the net interest rate
s 7.7274. Ayes (6), Nays (0). Motion carried.
llen moved, Solinger second to adopt Resolution No. 657-83 Rel.attng
o $3,200,000. General Obligation Improvement Bonds, Series 1983
uthorizing the Issuance, Awarding the sale fixing the form and de -
ails, and Providing for the execution and delivery thereof and
ecurity therefor. Low bidder is First Bank of St. Paul with a net
nterest rate of 7.4363. Ayes (6), Nays (0). Motion carried.
he Mayor and the City Clerk are hereby authorized to sign said
ocuments pertaining to the above bond issues.
aving no further business, Powers moved, Strain second to adjourn
he meeting. Ayes (6), Nays (0). Motion carried.
1
Ci tv Clerk