HomeMy WebLinkAbout1995-10-25 Regular Meeting MinutesCITY OF APPLE VALLEY
Dakota County, Minnesota
October 25, 1995
Minutes of the special meeting of the City Council of Apple Valley, Dakota
County, Minnesota, held October 25th, 1995, at 5:00 o'clock p.m. at Apple
Valley City Hall.
PRESENT: Acting Mayor Sterling; Councilmembers Erickson and Humphrey.
ABSENT: Mayor Branning and Councilmember Goodwin.
City staff members present were: City Administrator Gretz, Administration
Secretary Syring, Deputy City Clerk Finger, Finance Director Ballenger.
Acting Mayor Sterling called the meeting to order at 5:00 p.m.
Steve Mattson, of Juran & Moody, the City's financial consultant, re-
viewed the bids received at 11:00 a.m., on October 25, 1995, in his
office. He reported that the bids were very favorable to the City
and recommended awarding the sales to the low bidder for each issue.
MOTION:
of Humphrey, seconded by Erickson, adopting Resolution No.
1995-269 authorizing the sale of the City's $2,725,000
General Obligation Improvement Bonds of 1995 to William R.
Hough & Co., the low bidder, at net interest rate of
4.2027 percent, and providing for the terms and conditions
of issuance. Ayes - 3 - Nays - 0.
~0ND SALE
RES. 1995-269
AWARD SALE
$2,725.000 BDS
MOTION:
of Erickson, seconded by Humphrey, adopting Resolution No.
1995-270 authorizing the sale of the City's $3,015,000
General Obligation Refunding Bonds of 1995 to Cronin &
Co., Inc., the low bidder, at net interest rate of 4.5228
percent, and providing for the terms and conditions of
issuance. Ayes - 3 - Nays - 0.
RES. 1995~270
AWARD SALE
$3.015.000 BDS
MOTION:
of Humphrey, seconded by Erickson, adopting Resolution No.
1995-271 authorizing the sale of the City's $3,770,000
General Obligation Public Utility Revenue Bonds of 1995 to
Cronin & Co., Inc., the low bidder, at net interest rate
of 5.0802 percent, and providing for the terms and
conditions of issuance. Ayes - 3 - Nays - 0.
RES. 1995-271
AWARD SALE
$3.770.000 BDS
MOTION: of Humphrey, seconded by Erickson, to adjourn. Ayes - 3 - Nays ~ O.
The meeting was adjourned at 5:05 o'clock p.m.