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Home My WebLink About03/20/1991CITY OF APPLE VALLEY Dakota County, Minnesota March 20, 1991 Minutes of the special meeting of the City Council of Apple Valley, Dakota County, Minnesota, held March 20th, 1991, at 11:00 a.m. at Apple Valley City Hall. PRESENT: Mayor Holton, Councilmembers Erickson, Goodwin, Humphrey, and Sterling. ABSENT: None. City staff members present were: City Administrator Melena, Deputy City Clerk Moroni, Finance Director Ballenger. Mayor Holton called the meeting to order at 11:15 a.m. Steve Mattson, of Juran & Moody, opened and tabulated the bids at the BOND SALE offices of Juran & Moody at 10:00 a.m. The results were delivered to BID OPENING the City Council with the apparent low bid for $3,345,000 G.O. Cross- over Refunding Bonds of 1991, Series B, being Norwest Investment Services at a net interest rate of 6.56 percent. Other bids received were Dean Witter Reynolds at 6.57 percent; Dain Bosworth Incorporated at 6.58 percent; and Piper, Jaffray & Hopwood, Inc. at 6.59 percent. The apparant low bid for $515,000 G.O. Refunding Bonds of 1991, Series G is Norwest Investment Services, Inc. at a net interest rate of 5.94 percent. Other bids received were Piper, Jaffray & Hopwood, Inc. at 6.12 percent and FBS Invest- ment Services, Inc. at 6.00 percent. MOTION: of Goodwin, seconded by Humphrey, adopting Resolution No. 1991-59 awarding the sale to Norwest Investment Services, the low bidder, at a net interest rate of 6.56 percent, prescribing the form and details and providing for the payment of $3,345,000 G.O. Crossover Refunding Bonds of 1991, Series B. Ayes - 5 - Nays - 0. RES. 1991-59 AWARD $3,345,000 G.O. CROSSOVER REFUNDING BONDS RES. 1991-60 AWARD $515,000 G.O. REFUNDING BONDS MOTION: of Humphrey, seconded by Goodwin, adopting Resolution No. 1991-60 awarding the sale to Norwest Investment Services, the low bidder, at a net interest rate of 5.94 percent,prescribing the form and details and providing for the payment of $515,000 G.O. Refunding Bonds of 1991, Series C. Ayes - 5 - Nays - O. MOTION: of Goodwin, seconded by Erickson, to adjourn. Ayes - 5 - Nays - O. The meeting was adjourned at 11:30 a.m.