06-18-1962 HUCM4.
2. The Commission shall meet at the time and place speci-
fied in the form of notice herein contained, for the purpose of
opening, receiving and considering sealed bids for the purchase
of such bonds. The Secretary is hereby directed to cause notice
of the time, place and purpose of such meeting to be published
in the manner required by law, which notice shall be in sub-
stantially the following form.
There being no further businesq, the meeting was adjourned.
i'
R.-W—.-Dahl, ecretary .
ATTESTS( !
R. I. Sheppard., President.
Special Meeting
June 18, 1962
Pursuant to due call and notice thereof, a special, meeting of
the Hutchinson Utilities Commission of the City of Hutchinson,
Minnesota, was held at the Commission Office on June 18, 1962,
at 4;00 01clock PM.
00
All Commissioners were present. Secretary R. W. Dahl was also
o
o
present.
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I
Commissioner Thompson introduced the following resolution and
M
moved its adoption;
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RESOLUTION AUTHORISING THE ISSUANCE
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AND PUBLIC SALE OF LICgIT AND POWER
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PLANT REVENUE BONDS
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BE IT RESOLVED by the Hutchinson Utilities Commission of
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the City of Hutchins on, Minnesota, as f ollows=
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1. It is hereby found, determined and declared that it is
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necessary and expedient for the Commission, under and pursuant
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to the provisions of Chapter 17 of the Home Rule Charger of the
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City of Hutchinson, as amended to borrow money for the financing
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of needed equipment of the municipal light and power plant, in
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the amount of 700,000, and to issue revenue bonds in evidence
of such borrowing.
2. The Commission shall meet at the time and place speci-
fied in the form of notice herein contained, for the purpose of
opening, receiving and considering sealed bids for the purchase
of such bonds. The Secretary is hereby directed to cause notice
of the time, place and purpose of such meeting to be published
in the manner required by law, which notice shall be in sub-
stantially the following form.
4.
2. The Commission shall meet at the time and place speci-
fied in the form of notice herein contained, for the purpose of
opening, receiving and considering sealed bids for the purchase
of such bonds. The Secretary is hereby directed to cause notice
of the time, place and purpose of such meeting to be published
in the manner required by law, which notice shall be in sub-
stantially the following form.
There being no further businesq, the meeting was adjourned.
i'
R.-W—.-Dahl, ecretary .
ATTESTS( !
R. I. Sheppard., President.
Special Meeting
June 18, 1962
Pursuant to due call and notice thereof, a special, meeting of
the Hutchinson Utilities Commission of the City of Hutchinson,
Minnesota, was held at the Commission Office on June 18, 1962,
at 4;00 01clock PM.
00
All Commissioners were present. Secretary R. W. Dahl was also
o
o
present.
0
N N
I
Commissioner Thompson introduced the following resolution and
M
moved its adoption;
� rn
o
RESOLUTION AUTHORISING THE ISSUANCE
a o
AND PUBLIC SALE OF LICgIT AND POWER
o 4-
c
PLANT REVENUE BONDS
o cn
o
W
BE IT RESOLVED by the Hutchinson Utilities Commission of
cn
o
the City of Hutchins on, Minnesota, as f ollows=
o 0
CL
Q
1. It is hereby found, determined and declared that it is
r-
5 of
necessary and expedient for the Commission, under and pursuant
L
L
CU
to the provisions of Chapter 17 of the Home Rule Charger of the
o(D
-a
0
City of Hutchinson, as amended to borrow money for the financing
U)
a E
L_
of needed equipment of the municipal light and power plant, in
a)
W
cn :3
Q Z
O
u.
the amount of 700,000, and to issue revenue bonds in evidence
of such borrowing.
2. The Commission shall meet at the time and place speci-
fied in the form of notice herein contained, for the purpose of
opening, receiving and considering sealed bids for the purchase
of such bonds. The Secretary is hereby directed to cause notice
of the time, place and purpose of such meeting to be published
in the manner required by law, which notice shall be in sub-
stantially the following form.
5•
NOTICE OF SALE
700,000 LIGHT AND POWER PLANT REVENUE BONDS
CITY OF HUTCHINSON, McLEOD COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that the Hutchinson Utilities Com-
- mission of the City of Hutchinson, Minnesota, will meet at the
Hutchinson Utilities Commission Office Building, 13 Washington
Avenue West, Hutchinson, Minnesota, on the 10th day of July,
1962 at 2=00 Otolock PM, Central Daylight Saving Time, to o en,
receive and consider sealed bids for and award the sale of 9700,000
negotiable coupon Light aryl Power Plant Revenue Bonds to be dated
June 1, 1962, and to be payable solely from the net revenues re-
ceived in excess of current , reasonable and necessary costs of op-
eration and maintenance of the light and power plant and system
owned and operated by said City under the supervision and control
of said Commission. Said bonds will bear interest at a rate or
rates to be designated by the successful bidder, expressed in an
integral multiple of 1/4 or 1 /10 of 1% per annum, payable Dec. 1,
1962, and semiannually thereafter on June 1 and December 1 of each
year, and will mature serially in the amount of $50,000 on June 1
and $50,000 on December 1 in each year from and including June 1,
1963 to and including December 1, 1969. The bonds maturing on
and after June 1, 1968, will be each subject to redemption and pre-
payment at the option of the Commission on December 1, 1967, and
any interest payment date thereafter, at par and accrued interest
and in i nv er s e order of their serial numbers . The bonds and
interest will be made payable at a suitable banking institution to
be desigpated by the successful bidder, and will be issued in de-
nomination of $1,000 or $5,000 each as desired by the successful
bidder. The Commission must be notified of the paying agent and
denomination desired within 48 hours after the time of sale. The
City will furnish arni deliver, without cost to the purchaser and
within 40 days after the date of sale, the printed and executed
bonds and the approving legal opinion thereon of Messrs. Dorsey,
Owen, Marquart, Windhorst & West, of Minneapolis, Minnesota.
Sealed bids marked "Bid for $700,000 Light and Power Plant
Revenue Bonds" may be mailed or delivered to the undersigned
Secretary of the Utilities Commission, and must be received at
his office prior to the time of said meeting. Each bid must be
unconditional and accompanied by a cashier's or certified check
or bank draft in an amount not less than $14,000, payable to the
City Treasurer, to be retained by the Commission as liquidated
damages if the bid is accepted and the bidder should fail to com-
ply therewith. The b ord s of each maturity are to bear interest
at a single basic coupon rate, but different rates may be specified
f ar not exceeding three graups of bonds each having the same or
consecutive maturity dates. An additional rate of interest may be
specified for any or all of the bonds, for any portion of their
term, to be represented by supplemental interest coupons, but the
total amount of such supplemental coupons may not exceed $14,000.
Bids will be preferred according to the lowest dollar amount of
net interest cost computed to the stated maturities of the bonds
and deducting any premium offered. No oral bid;; and no bid of
less than par and accrued interest will be considered, and the
City reserves the right to reject any and all bids, to waive any
A.
6.
informality in any bid, and to adjourn the sale if deemed
expedient.
Dated June 18, 1962.
BY ORDER OF THE HUTCHINSON UTILITIES
COMMISSION
of the City of Hutchinson,
R. W DAHL
Secretary of the Commission
Hutchins on, Minnesota
3. Each and all of the terms and provisions of the
foregoing fcrm of notice are hereby adopted as the terms and
conditions of the bonds and of the sale thereof as fully as
though separately set forth and resolved herein.
6;
Presi ent of
Hutchinson Utilities Commission
n of the City of Hutchinson
Attests S(
Secretary
The motion for the adoption of the foregoing resolution was
duly seconded by W. W. Kurth, and upon vote being taken there-
on, the following voted in favor thereof; Dr. R. I. Sheppard,
Dr. A. J. Thompson, and W. W. Kurth,
and the following voted against the same; NONE.
Whereupon said resolution was declared duly passed and adopted.
STATE OF MINNESOT.A.)
) ss.
COUNTY OF McLEOD )
I, the undersigned, being the duly qualified and acting
Secretary of the Hutchinson Utilities Commission of the City
of Hutchinson, McLeod County, Minnesota, hereby certify that
the attached and foregoing is a full, true and correct tran-
script of the minutes of a meeting of the Hutchinson Utilities
Commission of said City duly called and held on the date therein
indicated, so far as such minutes relate to $700,000 Light and
Power Plant Revenue Bonds of said City, and tha t the resolution
included therein is a full, true and correct copy of the
original thereof.
WITNESS my hand officially as such Secretary this 18th
day of June, 1962.
�� A�'
R. W. Da , Secretary
1
1
1
7.
There being no further business, the meeting was adjourned.
�R. W - Dahl, S ary
ATTESTS WI + _
R. I. Sheppard, President
Special Meeting
June 20, 1962
A special meeting of the Hutchinson Utilities Commission was held
on June 20! 1962 at 5 PM at the Commission Office.
All commissioners were present; also R. W. Dahl, Supt. R. E.
Young, and Attorney W. E. Reyerson.
The special meeting was called for the purpose of receiving bids
for construction of the electric service building, all pursuant
to notice to bidders and based on the plans and specifications
prepared by Buell & Winter, engineers.
The bid of Miller & Miller was received prior to the time specified,
the bid of Melvin Zum Hofe was received prior to the time specified,
and Mr. Zum Hofe was present in person. Mr. Clifford L. Betker
called that he was delayed aryl would present his bid, and which
bid was delivered at 5:12 o'clock PM. Dr. R. I. Sheppard asked Mr.
Zum Hofe if it was agreeable to him to have the Betker bid accepted,
and Mr. Zum Hofe stated he had no objections. The three sealed
bids were opened and tabulated by Supt. R. E. Young;
Miller & Miller, lump sum amount of .......... $73,891.00
Concrete, per cu.yd., in place $36.00
Reinforcing steel, per lb.in place .06
Earth excavation, per cu.yd. 8 .60
Melvin Zum Hofe, lump sum amount of .......... $69,079.00
Concrete, per cu.yd., in place 25.00
Reinforcing steel, per lb-in place .18
Earth excavation, per cu.yd. 1 5.50
Betker Construction Co.,Cliff Betker
Lump sum amount of ........................... $67,239.00
Concrete, per cu .yd, in place 28.00
Reinforcing steel, per lb.-in place .17
Earth excavation, per cu.yd. 1 1.20
Mr. Betker was called before t Yr Commission and matters pertaining
to his bid, and the lateness of filing of the bid, were discussed.
Mr. Betker was then requested to leave the meeting so the Commission