HomeMy WebLinkAbout04-29-85 Special
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Hastings, Minnesota
April 29, 1985
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The City Council of the City of Hastings, Minnesota met at a Special
meeting on Monday, April 29, 1985 at 4:30 P.M. in the Council Chambers of
City Hall.
Members Present: Councilman Berg, Werner, Kulzer, Nesbitt, Plan
and Mayor Stoffel.
Members Absent: Councilman Bond, Trautmann and Mathiowetz.
The purpose of the special meeting was to consider the award of
bids for the Sale of Bonds and authorize advertisement for sale.
Moved by Councilman Werner, seconded by Councilman Nesbitt to
adopt Resolution No. 43-85 awarding the sale of $995,000 of General
Obligation Water Revenue Bond, Series 1985a to the First National
Bank of St. Paul, for a net interest cost of $941,432.50, with a net
effective rate of 8.5287%. Ayes; 5, Nayes, None. Copy of resolution
on file.
Moved by Councilman Werner, seconded by Councilman Berg to
adopt Resolution No. 44-85 awarding the sale of $990,000 of General
Obligation Tax Increment Bonds, Series 1985b to Norwest Investment
Services in the amount of $506,261.67 with a net effective rate of
7.79463%. Ayes, 5; Nayes, None. Copy of resolution on file.
Moved by Councilman Werner, seconded by Councilman Berg to
adopt Resolution No. 45-85 calling for bids for $680,000 of Improvement
Bonds to be awarded at the regular Council meeting on June 17, 1985.
Ayes, 5; Nayes, None. Copy of resolution on file.
Moved by Councilman Plan, seconded by Councilman Nesbitt
to adjourn at 5:10 P.M. Ayes, 5; Nayes, None.
ATTEST
Mayor
RESOLUTION NO.
43-85 AWARD BID
RESOLUTION NO.
44-85 AWARD BID
RESOLUTION NO.
45-85 AUTHORIZING
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BIDS
AJOURNMENT