12-29-1966 HUCM40.
- Graybar Electric Company
Walter R. Hammond Company
Standard Oil
113.2 259.25
734.4 28.50
729 1,899.92
There being no further business, motion was made by Commissioner Filk
and seconded by Commissioner Tracy that the meeting be ad jo- nrned.
Motion was unanimously carried.
ATTEST
)er 29, 1966.
Spec lal Meeting .
A special meeting of the Hutchinson Utilities Commission was held
on December 29, 1966 in the Hutchinson Utilities Billing office at
3:30 P. M.
All Commissioners were present; also Secretary R. R. Young.
Secretary Young was instructed to obtain reservations for the
Electrical Convention to be held Feb. 5, 6, and 7th. A future
convention to be held during the month of May in Denver was also
discussed.
It was noted that two Commissioners would not be in Hutchinson
on the regular meeting date of January 9th; motion was made by
Commissioner Filk and .seconded by Commissioner Tracy to schedule
the regular meeting on January 12, 1967 at 3 :00 P. M. Motion was
unanimously carried.,
ATTEST,
H. wade, President*
1
U
1
41•
REGULAR MEETING OF THE
HUTCHINSON UTILITIES
COMMISSION HELD AT THE
BILLING OFFICE ON JANUARY
12, 1967, AT 2 O'CLOCK
P. M.
The following members were present: H. P. Quade, Herb Filk,
Clint Tracy, R; E. Young and D. 0. Comer.
H. P. Quade, President of the Commission, called the meeting.to
order and called for reading of the minutes of the last previous meeting.
The minutes were read by the Secretary, R. E. Young, and approved.
P. E. Fuller and Merle Giving of the firm of Pfeifer and Schultz,
Inc., Engineers employed by the Utilities Commission in the expansion
program, met-with the Commission and went over the provisions of the
Specifications for Diesel Engine Generators, Electrical Installation
and Wiring. After discussion, Commissioner Tracy moved and Commissioner
Filk seconded a motion to accept, approve and authorize the use of the
Specifications with certain minor changes. The motion was unanimously
carried.
President Quade opened the meeting for discussion of the method
to be used for obtaining bids or letting a Contract for the Diesel Engine
Generators, Electrical Installation and Wiring complete including all
necessary changes in the plant and switch gear equipment. The discussion
brought out the fact that much of.the material and equipment needed for
-this work was in extremely short supply, and in many cases delivery dates
were 38 to 42 weeks behind. It was also pointed out that the information
necessary to work out the detailed plans would not be available until
March of 1967, and that if the Commission were to wait until then to call
for bids, completion of the expansion project would be in serious jeopardy
and could not be accomplished by the dates set and committed to large
customers of the Commission. It was also recognized that since a war was
going on in Viet Nam and appeared to be escalating, much of the equipment
and material could be frozen and not available at any time. The discussion
was developed that the firm of E. A. Pedersen Company of Omaha, Nebraska,
were willing to commit themselves and did in fact present .a proposal whereby
they would undertake the furnishing of the material and equipment and com-
pletion of the work that would be required in carrying,out these Specifications
for Diesel Engine Generators,.Electrical Installation and Wiring for a specified
sum, that sum being $89,200.00 which was based on plant inspection and general
understanding as to the work to be accomplished and mat�or:kitls .and equipment
furnished.
After lengthy discussion, careful consideration-and reports of the
investigations made by Commission members and the Engineers employed by
the Commission, they being present at the conclusion of this matter,, adoption
of the following Resolution was moved by Commissioner Filk, seconded by
Commissioner Tracy and unanimously adopted:
Resolution 102��
As per resolution #1000 adopted 11 -29 -06
£°
Numbering resolutions from 1936 — 2006
.
t
For search purposes only
R E S o L U T 1 o N
t,
_
"RESOLVED, That an emergency situation exists in th
obtaining of material and equipment to complete and
provide the Diesel Engine Generators, Electrical
Installation and Wiring necessary to get into opera
ion
the new engines being purchased by.the Commission -.w
thin
Alt
the time limit committed by the Commission for furn
shing
R
additional power. The emergency exists by reason'o
the
x
-
short supply.of critcal materials and equipment nee
ed to
accomplish;the completion of this undertaking due t
the -
war in Viet Nam and other factors and the limitation
of
time available within which the Commission must hav
more
'
power available to its users.
Because of the presence of the emergency, a the Comaission
,
further resolves that the proposal of E. A..Pederse
Company to furnish the labor, material and equipmen
necessary to complete the installation and placingn
operation of Diesel.Engine_Generators, Electrical'
Installation and Wiring without first making a public
call for bids which could not be made until late inlApril
of 1961, following receipt of final plans and info r
tion
from the furnishers of engines and other equipment
eing
installed. It is further resolved, that the Fresid
t and
• Secretary of the Commission execute a Contract with
&.-At
4>
Pedersen Company based on the proposal - dated - Decegib
r 362
1966,,from -E. A. Pedersen Company binding them to f
rnish
the labor, material and equipment as set forth therlein,
a
;
copy of which is attached hereto and by reference made
a
part hereof.,
Mr.: Joe Casey representing Carleton D. Beh Co. of Dies
Maw,
Iowa,, appeared before the Commission and submitted
0 p IMl,,:.
to represent the Commission as fiscal agent,in the ,sale
of ti =-
revenue bonds that will be required to finance thetxrchase4
engines and installation of all equipment required lin
the
expansion of`the plant and productive ability.
After Mr. Joe Casey had submitted his proposal, hejwas
asked to
leave the meeting room and the Commission then considered
all
proposals for furnishing fiscal agent services in."-
nation
with the sale of the Bonds. The following propose
aY Vtar+e
received by the Commission:`'
1. Allison_.and Williams Company
(fee of.Bond Attorney not included) -Total
fee - $ 4 375.90 '
"
2. Duran and Moody, Inc.
(Bond Attorney's fee included) - Total fee
-:
4,#
ti
3- Shaugha ne s s y and Company
(Bond Attorney's fee included) -Total fee
4,250.00
4. T. G. Evanston and Associates
(Bond Attorney fee not included )Total fee
4,950.00
5. Robert D. Milne and Associates
( Bond At torney ' f ee not included )Total fee
4,000.00
6. Carleton D. Beh Co.
(Bond Attorney fee included) "Total fee
(based on one -half (i) of
one per cent (1%) of Bonds
sold) 32500.00
43.
After discussion of the merits of the bids and proposals sub-
mitted, Commissioner Tracy moved, Commissioner Filk seconded and
the Commission unanimously approved the motion to employ Carleton
D. Beh Co. as fiscal agents in handling the sale of the revenue
bonds required by the expansion program of the electrical operation
of the Hutchinson Utilities Commission.
Discussion was had regarding the salary of employees of the
Hutchinson Utilities'Commission. President Quads appointed
Commissioner Filk and Superintendent Young to review salaries
and wages of employees and present recommendations to the Commission
at4a special meeting to be called for that purpose.
The following bills were allowed:
Mrs. Fred Briggs
803
Hutchinson Telephone Company
793.3
Curtis Industrial Supply Div.
734.4
Burmeister Electric Company
113.2
Westinghouse Electric Supply
771
The Hutchinson Leader
801
GTC Auto Parts
730.3
Al Patrias
801
Triple "D" Cafe
801
Texaco Inc
730.2
Margaret Hanson
402
Zila Hardware
734.4
Popp's Hutchinson Cleaners
730.5
Arlen Lade 402
Selen's Floral Art Shop 801
imons on Lumber Company, 732
Myron Wigen Chevrolet Company 759.2
Hutchinson Wholesale Supply Co. 734.4
Graybar Electric Company Inc 113.2
771
759.1 759.2
20.00
69.81
56.70
407.52
15.85
106.80
10.95
28.75
61.58
94.74
6.76
21.69
115.15
1.38
30.00
15.80
41.85
38 :70
31.30
44 .
American Linen Supply Company
State Treasurer
Natural Gas Division
Municipal Electric Plant
Bob ' s- Shell Service
Home Bakery
Standard Printing Company
Gamble Store
Hoel Distributing Company
National Tea Company
Nordberg Manufacturing Company
Riverview Press
Be tke r Construction Company
Art B jerken & Don Comer
D*on Hansen
Eagle Iron Works
Reef Bros Inc
Texaco Inc
Hutch ins on Ceader
Pfeiffer & Schultz
Dale Miller
Standard Oil
Natural Gas Division
Cleveland Produas Company
Charles Olson & Sons Inc
Natural Gas Division
Sterling Electric Company
Municipal Electric Plant
Weston 9chneck and Ruth Schneck
Postmaster
Nordberg Manufacturing Company
Standard oil
Pfeiffer & Schultz Inc
Allis-Chalmers
There being no further bus i nes q ,
Filk and seconded by Commissioner
journed. Motion was unanimously
730.5
778
729.1
729.2
Petty
Cash
759.1
801
781.3
793.4
771
759.2
801
113.1
#7
793.4
202.5
412.10
108
734.1
#'7
730.5
730.2
801
211
759.2
729
108
730.3
759.1
108
113.2
205
Petty Cash
412.10
781.2
113.1
#5 #6
729
211
113.2
734.1 #7
25.08
1.00
15,475.52
98.11
97.90
15.65
132.45
1.79
1.00
50.16
327.74
70.00
2,214.25
65.76
15.41
140.63
127.94
1,886.15
7.00
2,369.68
68.90
5,664.37
46.08
161.70
7.53
17.84
79.59
85.89
50.00
400.00
275.32
5,836.82
2,908.97
3o024.00
motion was made by Commissioner
Tracy that the meeting be ad-
carried.
.
E - -Yr, ��
ec ary.
Attest. �� I-L
H. F. Wtuade, Fresident. -
C E R T F_ I C A T I a N
I hereby cgrtify that ah a is a true and c orrect copy of a
Resolution duly passed, adopted and approved by the Hutchinson
Utilities Commission of the City of Hutchinson.. Minnesota, on the
12th day of January, 1967.
ecreta utchgAoh t t es
Commiss on of tWe City of
Hutchinson, Minnesota.
1 a.� %.S• ,: .... OLi3x. !. Oa3x - � Oa3x , r ,.
I ,
"Hutchinson, Minnesota
January 12, 1967
BOND SERVICE AND FISCAL
AGENCY SERVICE AGREEMENT
TO: THE HONORABLE PRESIDENT AND
HUTCHINSON UTILITIES COMMISSION
HUTCHINSON, MINNESOTA
Gentlemen: F.
In connection with the proposed issue of approximately $700,000 municipal
Electric Light Plant and System Revenue Bonds proposed to be issued by your
Commission, we make you the following proposal:
1/ t e7d "dnn
For and in consideration of the sum equal to $ty aiuD SS 02, we will
secure certified statements of indebtedness, ope ations, etc., and property
valuations of your municipality from the proper officials.
We will make a detailed survey of your present financial condition and advise
you as to the best method of financing the above improvement in such a way
that the general debt incurring power of your municipality shall be least
affected.
We will analyze engineer's report on estimated annual earnings and operating
expenses and recommend maturities for the proposed bond issue which can be paid,
plus interest, from the future net earnings, which shall be most advantageous
to the municipality and the Commission and result in ready marketability,
having due regard to probable future needed expansion of plant facilities and
future financial requirements, optional feature of the bond schedule, etc.
We agree to make a survey of local conditions and make such recommendation, based
upon our many years of experience in municipal revenue projects, as we may deem
advantageous in the successful operation of the plant and the successful issu-
ance and sale of securities.;
We will furnish the lithographed printed bonds ready for signatures of proper
officials, and if requested by you, prepare and have used facsimile signature
of'proper official on the coupons when the bonds are printed, under the terms
of this agreement.
This contract does not contemplate the furnishing of legal services by the
undersigned company nor by any of its officers, agents or employees, because'
I bond attorneys, mutually agreed upon, will furnish all minutes,
instructions and legal proceedings.
You agree that you will proceed with the preparation and adoption of all neces-
sary resolutions, forms of notice and other legal proceedings to complete the
legal issuance of the municipal securities contemplated herein, as soon as is
reasonably practicable.
You will furnish us, prior to the delivery of the securities contemplated
herein, certified copies of records of all..proceedings had preliminary to and
authorizing the issuance of said securities necessary to satisfactorily evi-
dence their legality to our counsel.
The undersigned company agrees to pay your bond attorney firm,employed for this
purpose, for their services in preparing the proceedings had preliminary to and
authorizing the issuance of said securities, as well as the costs of all official
publications, local and otherwise, required for the legal issuance of the above
described bond issue.:
s r
r r `"r P i`3, z y� , °ras �. . + � a: u � a � ^,; tmr ..+sa ,ir r t ao•, «x r. � rr � t . ";"t.S ar ,a a
-2_
The undersigned company further agrees to furnish the following additional
services to the Hutchinson Utility Commission:
a. To advise and consult with you on all financial and business f
details of your bond issue, so that the final arrangements
will be most advantageous to your Municipality.
b. We will1repare a prospectus for the information of prospective
purchasers on the obligations to be offered by the Municipality
for the purpose of financing the purchase and installation of
additional generating capacity in the Municipal Power Plant. We
will reproduce said prospectus in sufficient numbers so that they
can be distributed to all prospective bond buyers in sufficient
time before the contemplated public sale. Such prospectus will
cover:
1. Compilation of detailed operating and fiscal information
over the last operating period to substantiate the
earnings record and reveal the future earnings potential of
the Municipal Electric Utility.
2. A comprehensive, concise view of the Municipality, its
financial status and practices, and its economic and
other background.
3. All details and specifications of the obligations to be
issued, including all authorizing resolutions to provide
for the issuance of the obligations, and the official notice
of sale.
4. A description of the improvements or extensions for which
the obligations are being issued, and an analysis of the
need for such improvements to be supported by an opinion as
feasibility of the proposed financing. Feasibility study to
include cost estimates, proposed amortization schedule and
means of retirement of contemplated obligations.
It is understood and agreed that you will reserve the right to reject any
and all bids at the bond sale.
The Carleton D. Beh Co. will furnish adequate assurances to the Hutchinson
Commission that they will receive the best possible bid that the market has
to offer at the time the bonds are sold.
Respectfully submitted,
CARLETON D. BEH CO.
BY
JOSEP . C,ASVL
resident
The above and foregoing proposal accepted this day of January, 1967.
FOR THE HUTCHINSON UTILITIES
COMMISSION
President
S etary
:t t:sY- .,rc ,+�' nr±.. �; ♦ rrc" ..yo-. ,a+,p('<<r si¢ 1 wq
to
i
r 4%. V
Hutchinson, Minnesota
January 12, 1967
MOTION ON A- RESOLUTION TO EMPLOY THE CARLETON
y'
D. BEH CO., INVESTMENT SECURITIES, DES MOINES
` BUILDING„ DES MOINES, IOWA, TO ACT AS .FISCAL
r, ,
AGENTS FOR THE UTILITIES COMMISSION, HUTCHIN-
SON, MINNESOTA, FOR THE PURPOSE OF ASSISTING
s
` THE COMMISSION IN FINANCING THE EXTENSIONS
AND IMPROVEMENTS TO THE MUNICIPAL ELECTRIC
PLANT, HUTCHINSON, MINNESOTA, NOW UNDER CONTRACT.
WHEREAS, the Utilities Commission, Hutchinson, Minnesota, has entered into
contracts for the purchase of an additional generating unit and auxiliaries to
increase the firm 'generating capacity of the Municipal Electric Light and Power
Plant and System to meet the demands of increased firm light and power require-
ments of the City of Hutchinson, Minnesota; and
WHEREAS, the current financial status of funds on hand and .available to the
Commission for said purchase of electric plant extensions and improvements, makes
it mandatory to anticipate future plant earnings and borrow approximately $700,000
at this time, and to issue and sell, at public sale, revenue bonds secured by the
future net operating revenues of said plant; and system; and
WHEREAS, THE President and the Commissioners of the Utilities Commission have
met in regular and special sessions on several occasion's to consider this problem
of financing, and have surveyed the municipal revenue financing market, checked
x
with other municipal officials and other authorized sources to determine the
market conditions for utility borrowings of this type and have entertained pro -'
posals from other fiscal agents; and
WHEREAS, Mr. Joseph E. Casey, Vice President of the Carleton D. Beh Co., In-
v'estment Securities, Des Moines Building, Des Moines, Iowa, was invited to attend
a special meeting called by the President of the Commission.at P.M. on the
12th day of January, 1967, at the regular meeting place of the Commission to'
consult with the Commission on the best ways and means available to the Commission
to finance the estimated $700,000 needed to pay suppliers of equipment, supplies
and services and to firm up certain specifics of a proposal previously submitted; and
WHEREAS, the financing requirements were discussed at said time and place with
'
members of the Utilities Commission, and the Commission reached its decision on the
method to proceed.
,
NOW, THEREFORE, BE IT RESOLVED BY THE UTILITIES COMMISSION, CITY OF HUTCHINSON,
MINNESOTA, that the firm of the Carleton D. Beh Co., Des Moines, Iowa, be and the
same is hereby employed as fiscal agents for and on behalf of the Utilities Com-
mission to make and conduct all necessary studies and efforts, and to do all things
necessary to prepare for the necessary issue and sale of electric revenue bonds at ,
the time decided upon by the Commission, and that the details of fiscal agency
service and terms of financing be and hereby are more specifically set out in
i written agreement, dated this date and attached hereto; and
BE IT FURTHER RESOLVED that the President and the Secretary, be and are hereby
authorized and directed to enter into and sign formal agreements with the Carleton
D. Beh Co. as approved by the Utilities Commission.
This Resolution read and offered by Commissioner Tracy who
moved its adoption. It was seconded by Commissioner F i lk and
adopted this l� today of January, 1967. The President called for a vote and the
Commissioners voted as follows:
Ayes: 3 Nays: 0
The President declared the motion duly adopted. There being no further
business to come before the Commission, the President declared the meeting closed.
FOR THE UTILITI SION'
- Commission Preside
i
• - `', Commies o Ssara ary
•
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FIRST NATIONAL BANK OF MINNEAPOLIS
M I N N E A P O L I S . M I N N E S O T A
RFC VF1) TWF• Fnl 1 nwimr nFCrmjmrrm CFr11pITIFC'
No. 266409
4OUN7 NO.
TRANSACTION
CO NUMBER
CD
DATE
1�494 9
44 6409
02 09 67•
ACCOUNT NAME
C l TZ BK HUTCH I NSON MINN CUST" BD
BOOK NUMBER
6034801
Q K[_R FE p Q a a
p �URITY NO. ...
CALL
RATE
MAT. OR PAR
NORIZEO SIGNATURE
PACE AMT /NO 9NARE3
BR CD
INTEREST
PA
0 7.4031
NC
05150
1 10167
S 00
90
. ONVO I
04
SECURITY DESCRIPTION
°FEIER'AL INTER CREDIT BANKS DEB REC FROM CHASE MANHATTAN BK REC ;GS87123
INT AT MAT $1931.25
_ TRANSACTION DESCRIPTION
INV DEPT A/C HUTCHINS N UTILITY COMMI.SSION
1- ST'INTEREST OATS
ST INT. AMOUNT
gEGU LAR INT. AMOUNT
INTEREST DATES
DATED
RECEIVED WITHIN Him m
P•
AUD
A
12/ 1/67 1
[ERAWDY
06
`
DATE
DESCRIPTION OF ENTRY
DEBIT
CREDIT
BOOK. Vq LEIE,
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17 4.17 A` 1. "O NON - NEGOTIABLE SAFEKEFFJING RECEIPT AND SECURITY LEDGER