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After the bids had been coon idered and discussed;, <br />member ! im-1"ate aDuda Introduced the following resolution <br />and moveIts adoption*. <br />RESOLUTION ACCEPTING BID ON SATZ CR <br />BLECTR C REVENUE BONDS AND FIXING <br />INT :EAST RA' <br />BE IT RESOLVED,, by the Public Utilities Commiasioxi o <br />the Village of Elk River, Minnesota, as follows: <br />t <br />1, That the "bid o <br />eAd Carleton E, Beh Co. Deis Mgxie, to pure ase *490,000 Electrre <br />Revenue Boncrys of the Village tra e r ated August 15, lq l is hereby <br />:round,, determined and declared to use the most favorable bid received <br />and is hereby accepted: and said bands are hereby awarded to said <br />bidder, <br />2 The %rands maturing and bearing the serial numbers <br />set forth below shall bear interest payable Yebruary ". , 1962 <br />and. semi-annually thereafter on August 15 and February 15 of <br />each year at the respective Fates per annum set opposite said <br />maturities and .serial. numbers: <br />Maturity Serial. Numbers Interest Rate <br />2/15/62 to 8/1 /6 - 105 2.50% <br />2/15/65 to 9/15/6A 106 - 250 3.10% <br />15/69 to 8/15/71. 251 — 390 3. <br />2/15/72 to /15/73 391 — 490 3. <br />Plus additional ,interest at the rate of <br />per cent (1. 2o ) per annum on all bends rom <br />to , payable <br />3. Said bands shall be payable at <br />Member Otis cke seconded the motion f'or the <br />adoption of said resolution on nd upon vote being taken thereon, <br />the following .owin voted in favor thereof <br />Otis Nickerson# Joseph Bailey# WiUiem Patmaude,, Jr. <br />Im <br />