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<br />Special Council Meeting <br />August 23, 1977 at 12:00 o'clock noon <br /> <br /> <br />The following members were present Mayor Lundberg, Councilllllm'lber Konop <br />and Toth. <br /> <br />City Financial Advisor Bob Milne was also in attendance. <br /> <br />The following bids were received: <br /> <br />$195,000 GellCil.ral Obligation Sanitary Sewer Bonds of 1977 <br /> <br />E.J. Prescott <br />1st Nat'l Bank of St. Paul <br />M.H. Novick &,Co. <br />1st Nat'l. Ban1c~Qf Mpls. <br />Piper Jerfray. & Hopwood <br />Allison Williams Co. <br /> <br />192,825.75 <br />192,367.50 <br />192,309.00 <br />191,880.00 <br />191,880.00 <br />192,240.75 <br /> <br />82,454.25 <br />83,697.50 <br />'82,526.00 <br />84,510.00 <br />85,810.00 <br />83,824.25 <br /> <br />The appamJJ..1;; low bidder is E.J. Prescott. <br /> <br /> <br />$100,000 0.0. Grant Anticipation Bonds of 1977 <br />Total Int. Cost <br />Marquette Nat'l. Bank 99,260.00 12,290.00 <br />1st Hat.i. Bank of Mpls. 99,500.00 13,100.00 <br />Piper, Ja.ffray & !fI1.pwood 99,280.00 12,720.00 <br />Alisson Williams Co. 99,250.00 12,750.00 <br />1st Nat'l. Bank of St. Paul 99,605.00 12,395.00 <br /> <br />The ap~at.; low bidder ~sMarquette Nat'l. Bank. <br /> <br />4.9522% <br />5.026% <br />4.9565% <br />5.0756% <br />5.1538% <br />5.0344% <br /> <br />Average <br />4.0966% <br />4.3666% <br />4.24~ <br />4.25% <br />4.1~ <br /> <br />Interest Rate <br />3.85% <br />4.2~ <br />4.~ <br />4.00,( <br />4.~ <br /> <br />)loved by CouncilmeJDber Konop and seconded by Councilmember Toth to <br />accept and award the lowest bidder as follows: <br />100,000 0.0. issue to Marquette Nat'l. Bank in the amount of $99,260.00 <br />(average interest rate of 4.0966%). <br /> <br />195,000 0.0. issue to E.J. Prescott in the amount of $192,825.75 <br />(average net interest rate of 4.952~) <br />based on final tabulation by Mr. Milne. <br />Motion unaminously carried by a vote of 3-0. <br /> <br />No further business the meeting adjourned at 12:30 p.m. <br /> <br />~ . ------ <br /> <br /> <br />~ <br />".. . . . . . ----. <br />, C!Orlt~".... ..~~ <br /> <br />