06-01-1977 CCMMINUTES
SPECIAL MEETING - HUTCHINSON CITY COUNCIL
WEDNESDAY, JUNE 1, 1977
Mayor Black called the special meeting to order at 12:02 P.M. Those in atten-
dance were Aldermen Westlund, Haag, and K. Peterson in addition to Mayor Black.
Absent: Alderman B. Peterson. Also present were Administrative Assistant Plotz,
City Engineer/Public Works Director Priebe, and City Attorney Schantzen.
Mayor Black read the Official Notice of Bond Sale for $780,000 Improvement Bonds
of 1977, City of Hutchinson, McLeod County, Minnesota, to be opened on June 1,
1977 at 12:00 o'clock noon, at the Council Chambers of City Hall.
Mr. Robert Sander, Juran & Moody, Inc. of St. Paul, reported to the Council that
the City of Hutchinson has an "A" rating on bonds and that the 1977 Improvement
Bonds cover a 12 year period. The following bids were then opened and read:
PURCHASE TOTAL INTEREST
PRICE COST
E. J. Prescott (Des Moines) $773,253
Dain, Kalman & Quail, Inc. (Mpls.) 771,420
Bancnorthwest (Mpls.) 768,300
NET INTEREST
RATE
$277,049.50
4.687%
278,420.00
4.71
289,115.00
4.89
First National Bank of Mpls. 771,420 282,657.50 4.782
Mr. Sander presented data on the Minnesota Municipal Bond Sales for May, 1977 as
well as a graph of "Bond Buyers" Index of 20 Municipal Bonds.
After discussion, it was moved by Alderman Westlund, seconded by Alderman K.
Peterson, to award the sale of 1977 Improvement Bonds to E. J. Prescott of Des
Moines in the amount of $773,253.00 purchase price and return the certified checks
to the unsuccessful bidders. Motion carried unanimously.
It was moved by Alderman Westlund, seconded by Alderman K. Peterson, to waive
reading and adopt Resolution No. 5969 entitled Resolution Providing for Issuance
of $780,000 Improvement Bonds of 1977. Motion carried unanimously.
City Engineer/Public Works Director Priebe referred to the bids opened on May 26,
1977 for M.S.A.P. 133-117-01, City Project 77-12 & 77-30, Storm Sewer & Grading,
School Road, and M.S.A.P. 133-117-02, City Project 77-30A, Box Culverts, School
Road & Luce Line Trail. He recommended that the two following awards be made:
M.S.A.P. 133-117-01, 77-12 & 77-30
Duininck Bros. & Gilchrist $180,638.92
M.S.A.P. 133-117-02, 77-30A
Bergeron Construction Inc. $ 66,080.00
A
Council Minutes
June 1, 1977
It was moved by Alderman Haag, seconded by Alderman K. Peterson, to waive read-
ing and adopt Resolution No. 5972 entitled Resolution Accepting Bid, 1977 Improve-
ments, M.S.A.P. 133-117-01, City Project No. 77-12 & 77-30. Motion carried unan-
imously.
It was moved by Alderman Haag, seconded by Alderman K. Peterson, to waive read-
ing and adopt Resolution No. 5973 entitled Resolution Accepting Bid, 1977 Improve-
ments, M.S.A.P. 133-117-02, City Project No. 77-30A. Motion carried unanimously.
There being no further business to come before the Council, the motion was made
by Alderman Westlund, seconded by Alderman Haag, to adjourn the meeting at 12:27
P.M. Motion carried unanimously.
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