HomeMy WebLinkAbout1971/05/05VILLAGE OF APPLE VALLEY
Dakota County, Minnesota
Minutes of the meeting of the Village Council, Village of Apple Valley, Dakota County,
Minnesota, held on May 5, 1971 at 7:30 p.m.
PRESENT: Mayor Largen; Councilmen Pearsall and Branning; Administrator Olsen
ABSENT: Councilmen Garrison and Hollenbeck
The Village Clerk presented affidavits of publication of the notice of sale of $1,497,000
Improvement Bonds of 1971, $155,000 General Obligation Water and Sewer Revenue Bonds of
1971, $357,000 Park Bonds of 1971, and $250,000 Municipal State-Aid Street Bonds of 1971
of the Village, for which bids were to be received at this meeting, in accordance with a
resolution adopted by the Village Council on April 14, 1971. Said affidavits were examined,
approved and ordered placed on file.
The Village Clerk announced that one sealed bid had been received which was thereupon
opened and read and the highest and best bid of each bidder was found to be as follows:
Name of Bidder
Interest Rate
Purchase Price
FIRST NATIONAL BANK OF
SAINT PAUL
PIPER JAFFRAY & HOPWOOD
INC.
Allison-Williams Company
American National Bank
Trust Company
Dain Kalman & Quail, Inc.
Northwestern National Bank
of Minneapolis
John Nuveen & Co, Inc.
Paine, Webber, Jackson &
Curtis
Reynolds & Company
Caldwell-Phillips, Inc.
Robert S. C. Peterson, Inc.
E. J. Prescott & Company
Woodard-Elwood & Company
5.00% - 1972
5.75% - 1973-76
6.00% - 1977-84
6.10% - 1985-86
· 6.20% - 1987-88
6.25% - 1989-91
PURCHASE PRICE $2~215,125
$1~240,505.00
(6.29921%)
After consideration of the foregoing bids:
MOTION: of Pearsall, seconded by Branning, that Resolution awarding sale of $1,497,000
Improvement Bonds of 1971, $155,000 General Obligation Water Revenue Bonds of
1971, $357,000 Park Bonds of 1971, $250,000 Municipal State-Aid Street Bonds of
1971, be adopted. Those in favor, Largen, Pearsall and Branning - opposed - none.
Motion carried.
MOTION: of Pearsall, seconded by Branning, that Resolution determining the form and details
of $1,479,000 Improvement Bonds of 1971, providing for the payment from a sinking
fund and levying taxes and pledging assessments for-the payment thereof, be adopted.
Those in favor Largen, Pearsai1 and Branning - opposed - none. Motion carried.
MOTION: of Pearsall, seconded by Branning, that Resolution determining the form and details
of $155,000 General Obligation Water and Sewer Revenue Bonds of 1971 of the Villager
creating a sinking fund therefore, and pledging net revenues and the full faith and
credit of the Village. for payment thereof, be adopted. Those in favor Largen,
Pearsall and Branning - opposed - none. Motion carried.
MOTION: of Pearsall, seconded by Branning that Resolution determining the form and details
of $357,000 Park Bonds of 1971 of the Village, creating a sinking fund therefore, and
levying taxes for the payment thereof, be adopted. Those in favor Largen, Pearsall
and Branning - opposed -inone. Motion carried.
MOTION: of Pearsall,seconded by Branning, that Resolution establishing the form and details
and authorize execution and delivery of $250,000 Municipal State-Aid Street Bonds of
1971, appropriating state-aid street allotments to their payment, and pledging the
full faith and credit of the Village, be adopted. Those in favor Largen Pearsall
and Branning opposed - none. Motion carried.
A lessee's receipt relative to the Liquor Store lease was presented to the Council, along with
a report from the Village Attorney recommending approval.
MOTION: of Pearsall, seconded by Branning, that the document be approved and executed. Those
in favor Largen, Pearsall and Branning - opposed - none. Motion carried.
The Village Administrator reported the necessity of a change in the manner in which the proposed
Liquor Store sign will be attached to the building, which would increase the cost some $I00. to
$2,725. The sign is to be installed .during the week of May 17th.
MOTION: of Pearsall, seconded by Branning, that the revision to the Liquor Store sign be approve~
Those in favor Largen, Pearsall and Branning - opposed - none. Motion carried.
The Village Administrator requested Council confirmation of the employment of Mr. Donald
Wadleigh of 140 Strese Lane as Public Works Construction Inspector, on a temporary basis,
effective May 4, 1971, at $4.50 per hour. He stated that Mr. Wadleigh is a graduate civil eng-
ineer and is considered well qualified for this position.
MOTION: of Branning, seconded by Pearsall, that the employment of Mr. Wadleigh as Public Wor
Construction inspector be confirmed. Those ink'favor Largen, Branning and Pearsall
opposed - none. Motion carried.
A list of claims and bills were presented to the Council.
MOTION: of Branning seconded by Pearsall, that the claims and bills presented be paid. Those
in favor Largen Branning and Pearsall - opposed - none. Motion carried.
MOTION: of Branning seconded by Pearsall, that the meet{ng adjourn. Those in favor Largen,
Branning and Pearsai1 - opposed - none. Motion carried.
Meeting adjourned at 8:10 p.m.
Mayor
Clerk