04-29-1986 BOMMINUTES
BID OPENING
TUESDAY, APRIL 29, 1986
The bid opening was called to order by City Administrator Plotz at 11:00 A.M.
Present were: City Administrator Gary D. Plotz, Finance Director Kenneth B.
Merril 1, Bond Consultant Bi l l Fahey, and Administrative Secretary Marilyn
Swanson.
The publication notice for $1,075,000 General Obligation Improvement Bonds of
1986 was read. The following bids were opened:
TOTAL INTEREST NET INTEREST
COST RATE
Allison -Williams Company $463,012.50 6.1735%
Cronin & Co. 475,523.75 6.34031%
First Bank 466,050.00 6.214%
Miller Securities 465,562.50 6.2075%
Northern Trust Co. 493,880.00 6.5850%
Norwest Investment Services e-470,637.50 6.2751%
John G. Kinnard & Co. --470,017.50 6.2669%
The bids were referred to the bond consultant for review and a recommendation to
the City Council at a special meeting at 5:30 P.M. this evening.
There being no further business, the meeting adjourned at 11:17 A.M.
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