266382 WH17E - CITY CLERK
PINK =� FINANCE � TY OF SAINT PAITL Council ����j�� �
CANARY - DEPAR ENT v
BLUE -MAY File NO.
` uncil Resolution
�
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS :
A. The City Clerk presented affidavits showing publication
of notice of call for bids on $4,100,000 General Obligation Urban
Renewal Bonds, Series 1975-L of the City, for which bids were to
be received at this meeting, in accordance with the resolution
adopted by the City Council on October 24, 1975, and said affidavits
were examined, found to comply with the provisions of Minnesota
Statutes, Chapter 475, and were approved and ordered placed on file.
B. Sealed bids, pursuant to said Notice of Call for bids
were received until 11: 00 o'clock A.M. , Central Time, on Tuesday,
November 18, 1975 , in the office of the Director of Finance and
Management Services, of the City of Saint Paul; and
C. The Director of Finance and Management Services of
the City has advised the Council that the bid of Halsey, Stuart &
Co. Inc. Affiliate of Bache & Co. Incorporated
attached hereto as Exhibit A and incorporated hereto by reference
was found to be the most advantageous and has recommended that said
bid be accepted.
NOW, THEREFORE, be it resolved by the Council of the
City of Saint Paul, that the bid of Halsey, Stuart & Co.
Inc. Affiliate of Bache & Co. Incorporated
to purchase ,100,000 Urban Renewal Bonds , Series 1975-L, of the � � � �V�
City in accordance with the Notice of Bond Sale all of' the terms
and conditions of which are hereby ratified and confirmed at the
rates of interest set forth in said bid and to pay therefor the
sum of $ 4,070,070.00 plus a premium of $ -0-
is hereby found, determined and declared to be the most favorable
bid received and is hereby accepted and said bonds are hereby
awarded to said bidder; and the Director of Finance and Management
Services is directed to retain the deposit of said bidder and to
forthwith return the good faith checks or drafts to the unsuccessful
COUIVCILMEN Requested by Department of:
Yeas Nays
Christensen
� Hunt � In Favor
�,evine
Rcedler 0 B
Sylvester Against Y
Tedesco
President� Hozza �� j g �� Form Approve by C y Att y
Adopted by Counc' • Date
Certified sed b uncil Secretary � BY
By
Appr e by Mayor: ate Q 1 1975 Approved by Mayor for Submission to Council
By By
PUBLISHED N f1V � 9 197!�
. �
- BID FORM
2�6��2 �
November 18 , 1975 (
�
Director �
Department of Finance and Management Services =
i
Accounting Division �
109 City Hall - j
Saint Paul, Minnesota 55102 4
Re: $4, 100,000
Urban Renewal Bonds, Series 1975-L �
Dear Sir: �
For all but not less than all, of the Four Million One �
Hundred Thousand Dollars ($4 ,100,000) principal amount of '
General Obligation Urban Renewal Bonds, 5eries 1975-L, of your
city to be dated December 1, 1975, and legally issued and as
described in and delivered in accordance with your notice, �
together with the legal opinion and certificate therein �
specified, said bonds to bear interest at the following rates:
Maturity Dates Principal Maturity Dates Principal
December 1 Amount Rate December 1 Amount Rate
i9�8 saoa,000 �� %-°I� 1987 $300 ,000 ��s
1979 200,000 5��,��1 1988 200,000 �-�� �'
1980 200,000 `�? �/'-f-°fo 1989 200 ,000 fc•Ev `
1981 200,000
S'�/�-% 1990 200,000 �v.�5 I
1982 200,000 5�/�-% 1991 200,000 �•�S 1
1983 300,000 � �/�-`'l0 1992 200,000 {�;�$ f
1984 300,000 ��`'-°l° 1993 200,000 � ,�S t
1985 300,000 ��f`�"% 1994 200,000 (�.�?S ;
1986 300,000 ����-°� 1995 200,000 � -�S
We will pay you the sum of $ ����?G, �'7Ge C,G (must not
,.
�
be less than $4 ,0?0,000) plus interest on $4 ,100,000 from ;
t
December l, 1975 to the date of delivery to us plus a premium
of $ �tv� �. Such delivery is to be made to us on or ;
before December 18, 1975 or thereafter at our option.
We enclose a good faith check in the amount of $82,40Q
payable to the order of "The City of Saint Paul" . If this bid
is accepted, said check may be applied as part payment for the
bonds at the time they are delivered, or may be forfeited as ,
liquidated damages, but without limitation of issuer's right to
additional damages if we shall fail to comply herewith. If
45
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