12-30-1959 VCM SPECIAL - Laserfiche WebLink

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inverse order of serial numbers at the option of the village, on January 1, 1970, and any interest payment date thereafter, at par and accrued interest plus a premium of $40 for each bond redeemed, and the bonds maturing in the years 1974 and 1975 being also redeemable on January 1, 1964, and any interest payment date thereafter at a price of par and accrued interest plus a premium of $50 for each bond redeemed prior to January 1, 1970. Principal and interest will be made payable at any suitable national or state bank in the United States designated by the successful bidder. The Village will furnish without cost to the purchaser and within 40 days after award of sale, the printed and executed bonds and the unqualified approving legal opinion of Messrs. Dorsey, Owen, Scott, Barber & Marquart, of Minneapolis, Minnesota. Delivery will be made without cost to the purchaser at Minneapolis or St. Paul, Minnesota or elsewhere at the purchaser’s expense. Sealed bids marked “Bid for Municipal Building Revenue Bonds” may be mailed or delivered to the undersigned Clerk, and must be received prior to the time of said meeting. Oral auction bids will not be considered. Each bid must be unconditional except as to the legality of the bonds and conformity thereof with provisions of the authorizing resolution, in which respects bids may be conditioned upon the opinion of the above attorneys. Each bid must be accompanied by a cashier’s or a certified check or bank draft in the amount of $1,700 payable to the “Village Treasurer of Elk River, Minnesota”, to be retained by the Village as liquidated damages in case the bid be accepted and the bidder fails to comply therewith. Bids will be preferred according to the lowest net interest cost; total amount of interest payable to the stated maturity dates of the bonds at the coupon rate or rates specified by the bidder, less the amount of any premium offered. Interest rates must be stated in integral multiples of ¼ or 1/10 of 1 cent per annum. No bid of less than par and accrued interest will be considered, and the Council reserves the right to reject any and all bids and to waive any informality in any bid. Dated December 9, 1959. BY ORDER OF THE VILLAGE COUNCIL H.A. Briggs, Village Clerk, Elk River, Minnesota 3. Each and all of the terms and provisions of the foregoing form of notice are hereby adopted as the terms and conditions of said bonds and of the sale thereof. The motion for the adoption of the foregoing resolution was duly seconded by Member Briggs and upon vote being taken thereon, the following voted in favor thereof: And none voted against the same, whereupon said resolution was approved and signed by the Mayor, and his signature attested by the Village Clerk, and said resolution was then declared to be duly passed and adopted. STATE OF MINNESOTA COUNTY OF SHERBURNE I, the undersigned, being duly qualified and acting Village Clerk of the Village of Elk River, Minnesota, hereby attest and certify that