Resolution 430 - Laserfiche WebLink

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.. .- r- , ~ at any suitable bank designated by the purchaser within 48 hours after the award of sale of the bonds, and the bonds will be in such denominations as may be specified by the purchaser. 2. The Yillage Council shall meet at the Village Hall in said Village onr.....es<l&.~ ' tl:1e::l? day of A'd:w,s,7-, 1967 at -r: ()o o'clock P.M., C. .S.T., for the purpose f receiving and considering sealed bids for the purchase of said bonds. The Village Clerk is authorized and directed to give notice of such meeting by publication at least ten days in advance in the official newspaper and in Commercial West, a financial paper published in the City of Minneapolis. Said notice shall recite substantially the following: The Village will furnish the bonds and approving legal opinion of Messrs. Faegre & Benson, Minneapolis, Minnesota, both without expense to the purchaser. The 00nds will be delivered to the purchaser within forty days from the date of sale at the office designated by the purchaser within the State of Minnesota or in Chicago, Illinois at the expense of the Village, orclsewhere at the purChaser's expense, accompanied by an unqualified approving legal opinion and customary final delivery papers, including a certificate showing absence of litigation. All blds must be in writing enclosed in a sealed envelope, suitably marked as a bid for bonds, be unconditional except as to the above opinion, specify one or more rates of interest and be delivered or mailed for delivery and received prior to the time of meeting, accompanied by a certified check, bank draft or cashier's check in the amount of at least $13,000, payable to the order of the Village, to be 'forfeited as liquidated damages in e vent the bid is accepted and the'bidder fails to comply therewith. Split rate bids may be submitted, but only one basic rate of interest from date of issue to maturity shall be specified for any bond. Any bid may also provide that all or some of the bonds shall bear a single additional interest rate represented by extra coupons for any portion of the term of the bonds. 'The basic rate and the additional rate for each bond, and the combination of both rates, must be in a multiple of one-eighth or one-tenth of 1% per annum and may not exceed 6% per annum. The bid offering the lowest net interest cost (total interest from date of issue to stated maturity less any premium offered) will be deemed the most favorable. Bidders are asked but not required to state total and rate of average annual net interest cost. No oral bid O~ bid of less than par and accrued interest will be considered. The VLllage reserves the right to waive any informality in any bid, to reject any and all bids and to adjourn the sale if deemed expedient. The motion for the adoption of the foregoing resolution was duly seconded by Trustee .;::s -e (~~"'.s and upon vote being taken thereon the fol~owing voted i~ favor thereof: A",J~?-se";) !J;rf) ~erf~~s) Moe IV, JV a t- c .,. l..j~ I ' J and the following voted against the same: N ~ 1"-<- whereupon said resolution was declared duly passed and adopted.