HomeMy WebLinkAbout10/25/1995CITY 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.