11-12-1980 CCM (2)MINUTES
SPECIAL MEETING - HUTCHINSON CITY COUNCIL
WEDNESDAY, NOVEMBER 12, 1980
The special meeting was called to order at 12:15 P.M. by Mayor Westlund. Those
present were: Alderman Lueneburg and Mayor Westlund. Also present were: City Ad-
ministrator Plotz, City Attorney Schantzen, City Accountant Merrill, and Bill Fahey
of Ehlers and Associates.
Mayor Westlund read the Notice of Bond Sale for $650,000 General Obligation Tax
Increment Bonds, City of Hutchinson, Minnesota. The following bids were opened
and read:
NET INTEREST NET INTEREST
COST RATE
Bancnorthwest (Minneapolis) $543,678.12 8.4454
Cronin & Marcotte, Inc.
Robert S.C. Peterson, Inc.
First National Bank of Minneapolis 539,540.63 8.3812
First National Bank of St. Paul
Robert W. Baird & Co., Inc.
M.H. Novick & Co., Inc.
Dain Bosworth, Inc. (Minneapolis) 540,663.88 8.398662
Allison -Williams Company
Piper, Jaffray & Hopwood, Inc.
The Chair deferred the bids to the Council meeting to be held this evening, with
award of bid to be made at said time.
Mr. Bill Fahey informed the Council the City of Hutchinson had an A rating, but he
is hopeful to raise it to an A-1 rating.
There being no further business to come before the Council, the meeting adjourned
at 12:35 P.M.