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<br />VILLAGE OF ELK RIVER COUNCIL MEETING
<br />December 9, 1959
<br />
<br />A special meeting was held at the Village Hall on Dec 9, 1959 at 7:30 o’clock P.M.
<br />
<br />Members present:
<br /> Henry Johnson, Mayor; G.R Bergerson, August Meyer, Trustees; H.A. Briggs, Clerk
<br />
<br />Member Bergerson introduced the following written resolution and, after it had been read in full,
<br />moved its adoption:
<br />
<br />RESOLUTION PROVIDING FOR PUBLIC SALE OF MUNICIPAL BUILDING REVENUE
<br />BONDS
<br />
<br />BE IT RESOLVED by the Village Council of the Village of Elk River, Minnesota, as follows:
<br />1. This Council shall meet at the time and place specified in the form of notice hereinafter
<br />contained for the purpose of opening and considering sealed bids for, and awarding the sale
<br />of, $85,000 of Municipal Building Revenue Bonds of said Village to be issued in accordance
<br />with said form of notice and the authorizing resolution therein referred to, which will be
<br />adopted upon award of sale of said bonds.
<br />2. The Clerk is hereby authorized and directed to cause notice of the time, place and purpose
<br />of said meeting to be published once at least 10 days in advance of said meeting in the
<br />Sherburne County Star News, the official newspaper of the Village, and once at least 10 days
<br />in advance of said meeting in the Commercial West, a periodical published in a city of the
<br />first class, giving financial news, and of general circulation throughout the state, which
<br />notices shall be in substantially the following form:
<br />
<br />NOTICE OF SALE $85,000 MUNICIPAL BUILDING REVENUE BONDS
<br />VILLAGE OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA
<br />
<br />NOTICE IS HEREBY GIVEN that the Village Council of the Village of Elk River,
<br />Minnesota, will meet at the Municipal Building in said Village on Wednesday, December 30,
<br />1959, at 8:00 o’clock P.M. to receive, open and consider sealed bids for the purchase of
<br />$85,000 Municipal Building Revenue Bonds of said Village, to be issued for the purpose of
<br />providing moneys to remodel and furnish a municipal liquor store building. Said bonds will
<br />be special obligations of the Village, payable solely from the net revenues of its municipal
<br />liquor store, as a first lien and charge thereon, and subject to the terms and provisions of the
<br />authorizing resolution to be adopted by the Village Council on December 30, 1959. Said
<br />bonds will be dated as of January 1, 1960, will bear interest at a rate or rates to be designated
<br />by the successful bidder, payable on January 1, 1960, and semiannually thereafter on July 1
<br />and January 1 of each year, and will mature serially on January 1 in the amount of $5,000 in
<br />each of the years 1962 through 1972 and $10,000 in each of the years 1973 through 1975,
<br />bonds of said issue maturing in 1971 and later years being each subject to redemption in
<br />inverse order of serial numbers at the option of the village, on January 1, 1970, and any
<br />interest payment date thereafter, at par and accrued interest plus a premium of $40 for each
<br />bond redeemed, and the bonds maturing in the years 1974 and 1975 being also redeemable
<br />on January 1, 1964, and any interest payment date thereafter at a price of par and accrued
<br />
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