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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