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06-04-1962 HUCM1. Special Meeting June 1, 1962. A special meeting of the Hutchinson Utilities Commission was held at five o'clock P. M. on June 1, 1962 at the office of Dr. R. I. Sheppard.. All commissioners were present; also Joseph E. Casey and W. E. Reyerson. Motion was made by Commissioner Thompson and seconded by Commissioner Kurth to set Tuesday, July 10, 1962, at two dclock P. M. as the date for taking bids on the bonds. The motion was unanimously carried. There being no further business, the meeting was adjourned. R. W. Dahl, Secretary. ATTEST -I. eppard, res i ent . Regular Meeting June 4, 1962 The regular monthly meeting of the Hutchinson Utilities Commission was held at five o'clock PM on June 4, 1962 at the office of Dr. R. I. Sheppard. All commissioners were presents Motion was made by Commissioner Thompson and seconded by Commissioner Kurth to grant the following increases in salary, effective June 1, 1962: Old Increase New Hugo Mahs 435.00 0.00 400 Ross Heilman 415.00 10.00 425.00 Deftyne Rubedor 410.00 10.00 420.00 -Cliff Smith 390.00 10.00 400.00 Harvey Daharsh 380.00 10.00 390.00 =Leif Larson 375.00 10.00 385.00 William Marquardt 360.00 10.00 370.00 Kenneth Krantz 360.00 10.00 3.70,.00 Henry Boller 350.00 10.00 360.00 Fred Mayer 350.00 10.00 360.00 Henry Koch 330.00 10.00 340.00 Ruben Sanke n 330-00 10.00 340.00 Arnold Nass 330.00 10.00 340.00 Howard Blackwell 330.00 10.00 340.00 George Luthens 320.00 10.00 330.00 Wesley Anderson 295.00 20.00 315.00 Lester Ziegler 295.00 10.00 305.00 Don Broten 295.00 10.00 305.00 Loren Caskey 295.00 10.00 305.00 Milton Studeman 285.00 10.00 295.00 Henry Knacke 250.00 10.00 260.00 2. Old Philip White (Hourly Worker) Ruth Hakel 320.00 Ruth Sch oet tmer 250.00 Ruth Wick 225.00 Bea Pollard 225.00 C ordia Rippe 220.00 The f oll owing b ills were allowed; Increase New 1.35 pr. hr. 10.00 793.4 330.00 10.00 730.3 260.00 Z'ila Hardware 10.00 235.00 735 10.00 W. S. Not t Company 235.00 10.00 739.3 230.00 Hutchinson Telephone Company Estherts 793.4 Hutchinson Wholesale Supply 730.3 734.4 Z'ila Hardware 730.3 Thermal Company Inc 735 W. S. Not t Company 735 Great Stuff Products Inc 739.3 Hutchinson Telephone Company 793.3 Ruth Hakel Petty Cash Graybar Electric Company 113.2 205 771 Sterling Electric Company 113.2 730.3 Fredericksonts Inc. 735 0• A. Bretzke & Son Inc 763 Poppts Hutchinson Cleaners 730.5 Gambles 734.4 H. A. Dobratz Sons 771 R. E. Torgerson & Company 730.5 787.2 Vincent Brass & Aluminum Company730.3 Pheoll Manufacturing Company 730.3 Simonson Lumber 735 771 Leeds & Northrup Company 734.4 Harris Machinery Company 206 General Electric Supply 113.2 W. W. Grainger, Inc. 735 W. S. Clay 803 Te leLec t Products Inc. 759.2 Schneider Electric & Equip 734.4 Fred Briggs 803 Minn. Municipal Utilities Assoc.801 W• S. Nott 206 Continental Safety Equip Inc. 771 Plowman Motors 403 759.2 B. M. Stolpman 730.4 Rutz Plumbing & Heating 735 Moehring Motors 759.2 C. J. Hodgdon 730.3 American Linen Supply 730.5 He lwi g Carbon Products Inc. 734.4 Commercial Filters Corporation 730.3 Eiler Equipment Company 734.1 #1 #2 Sterling Electric Company 113.2 730.3 John Henry Foster Company 734.4 Duncan C ompa ny 734.4 734.4 3.67 43.87 46.61 51.73 2.47 54.45 47.15 52.59 89.86 84.22 1.40 30.25 149.60 1.25 3.15 24.30 12.14 88.67 9.12 7.13 150.00 99.92 23.20 30/00 30.90 5.30 20.00 173.70 964,00 15.08 19.20 14.50 2.85 2.25 12 .90 11.60 112.83 121.32 9.55 120.30 4.51 99.81 20.31 1 1 Graybar Electric Company 113.2 12.60 30 Leef Bros., Inc 730.5 162.70 Peterson - Madsen Agency 114 204.64 Standard Oil 729 1,902.92 Quade's Inc. 730.3 734.4 11.89 Vincent Brass & Aluminum 734.1 #1 #2 771 54.96 Carl F. Christensen 202.5X 2,210.00 Chicago, Northwestern Railroad 202.5A 25.00 Imperial Supply Company 793.4 25.48 Burmeister Electric Company 113.2 208.80 Graybar Electric Company 113.2 54.78 Standard Oil 729 1,906.49 Pheoll Manufacturing Company 730.3 21.82 Nordberg Manufacturing Company 113.1 #1 #2 #5 #6 734.1 #2 493.04 Woodward Governor Company 734.1 #2 36.24 Mobil Service Station Void Ruth Hakel 5.63 402 734.1 65.44 Texaco Inc. 730.2 172.06 Graybar Electric Supply 771 90.76 Westinghouse Electric Supply 771 1.75 Mobil Service Station 759.1 62.17 Nordberg Manufacturing Company 113.1 #1 #2 734.1 #2 376965 Buell & Winter Engineering 211 4,800.00 Kemske Paper Company 793.4 45.20 Williams Hardware Company 734.4 28.77 Nordberg Manufacturing Company 113.1 #1 #2 443.01 Graybar Electric Company 113.2 205 718.60 National Chemsearcla Corporation 730.3 154.49 Terminal Electric Corporation Mdse 184.95 Vincent Brass & Aluminum Co. 734.4 771 15.39 Standard Oil 729 3,804.23 Graybar Electric C ompa ny 113.2 771 29.54 Westinghouse Electric Supply 113.2 253.09 National Chemsearch Cor - oration 730.3 155.00 Texaco Inc. 730.2 1, 873.08 Hutchinson Business Service 793.4 4.00 Duro -Test Corporation 781.5 140.76 Burroughs Corporation 781.5 229.00 Texaco Inc* 730.2 113.99 John Erik Stenberg 402 5.63 10.40 Ben Jerabek 734.1 #1 #2 759.2 170.74 Terminal Electric Corporation Mdse 211.86 Snap -on Tools Corporation 734.4 6.13 Power Supply Company 734.1 #5 65.51 Nalco Chemical Company 730.3 66.80 Ruth Hakel Petty Cash 70.21 Juul Contracting Company 202.511 270.00 Addressograph- Multigraph 781.4 9.00 Nordberg Manufacturing Co. 113.1 #1 #2 3.50 Mr. Harold Rutzke met with the Commission for a general discussion and expressed his various opinions regarding the Municipal Electric Plant. 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U i Cl L Z o m D S u x G � c G u p Z H > O r a � U O Z 2 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 Commission 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 o'clock P.M., Central Daylight Saving Time, to open, receive and consider sealed bids for and award the sale of $700,000 negotiable coupon Light and Power Plant Revenue Bonds to 'be dated June 1, 1962, and to be payable solely from the net revenues received in excess of current, reasonable and necessary costs of opera - tion 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, expres- sed in an integral multiple of 1/4 or 1/10 of 1% per annum, payable December 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 prepayment at the option of the Commission on December 1, 1967, and any a 1 °•atetest patient date thereafter,. at par and accrued interest and in inverse order numbers. The bonds and interest will be made payable at a suitable cation to be designated by the successful bidder, and will be issued in of $1,000 or $5,000 each as desired by the successful bidder. The ,ilatist be notified of the paying agent and denomination desired within after the time of sale. The City will furnish and deliver, without cost e put£haser 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 Comtnis- sion, 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 re- tained by the Commission as liquidated damages if the bid is accepted and the bid- der should fail to comply therewith. The bonds of each maturity are to bear interest at a single basic coupon rate, but different rates may be specified for not ex- ceeding three groups 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 ma- turities 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 informality in any bid, and to adjourn the sale if deemed expedient. 18, 1962. BY ORDER OF THE HUTCHINSON UTILITIES COMMISSION OF THE CITY OF HUTCHINSON, !t. W. DAH'L Secretary of the Commission Hutchinson, Minnesota Published in Commercial West June 23, -1962 FFERING YIELDS ,reneral obligations) gar Maturities 20 -Year Maturities Dec. Jan. Nov. Dec. Jan. 2.75 2.73 3.30 3.23 3.05 2.90 2.80 3.35 3.45 3.25 3.03 2.95 3.50 3.50 3.38 3.40 3.10 3.83 3.85 3.65 3.02 2.90 3.50 3.51 3.33 vestment Bankers Association of America. July 1, 1972 or any interest pay- ment date thereafter. (Advt. in CW, June 23). July 13 ;- 7. p.m.,CQST _-. Village of Mora, Minn. - $39,000 improve- ment bonds dated August 1, 1962, due February 1, 1964 t h r o u g h 1973, no call. (Advt. in CW June 16.) July 11 - 8 p.m., CDST - Inde- pendent School District No. 465, Litchfield, M i n n . - $1,390,000 school building bonds dated July 1, 1962, due January 1,'` through 1992, with bonds due l through 1992 callable January 1981 and any interest paym date thereafter. (Advt. in CIAf June 23). July 16 - 8 p.m., CDST - Inde -'' pendent School District No. 829, , - -- Waseca, Minn. - $350,000 school building bonds dated August 1, 196 due February 1, 1965 thro gh 1978, no call. (Advt. in CW une 16). July 16 - 8 p.m., MST - Great Falls, Mont. Highschool District No. 1. - $3- million Highschool District bonds dated June 30, 1962, due in semi - annual installments over c period of 20 years, callable June 30, 1972 or any interest paymen` date thereafter. July 17 - 8 p.m., CDST - Inde- pendent School District No. 601, Fosston, Minn. - $450,000 school building bonds dated August 1, 1962, due February 1, 1965 through 1987, with bonds due cif- C TO PRIOR SALE: NEW.IS$Ua MOODY RATINGt w $450,000 of District No. 719, Prior Lake, Minnes (Scott County) 7. i0%, 3.80cyo and 3.90% School Building Bonds Due: January 1, 1965 through 1988 semi- annually thereafter on January 1 and July 1 of each year. iUNSEL, UNDER LAWS NOW IN FORCE, THE INTEREST ON 'T FROM FEDERAL INCOME TAXES AND, WHEN RECEIVED NTS, IT IS EXEMPT UNDER MINNESOTA STATE INCOME Messrs. Dorsey, Owen, Marquart, Windhorst & West of Minneapolis. The American National Bank of Saint Paul , Inc. Kalman & Company. Minneapolis -Saint 1 E. J. Prescott & Co. Minneapolis } MATURITY SCHEDULE rity Yield Amount Coupon Maturity Yield 5 2.40% $15,000 3.70% 1977 3.70016 S 2.55 15,000 3.80 1978* 3.75 7 2.70 15,000 3.80 1979* 3.75 3 2.80 15,000 3.80 1980* 3.80 2.90 15,000 3.80 1981* 3.80 3.00 20,000 3.80 1982* 3.85 L 3.10 20,000 3.80 1983* 3.85 t 3.20 20,000 3.80 1984* 3.85 5 3.30 45,000 3.90 1985* 3.90 f 3.40 45,000 3.90 1986* 3.90 5 3.50 50,000 3.90 1987* 3.90 S 3.60 35,000 3.90 1988* 3.90 > callable on January 1, 1977 at 1011/2. The American National Bank of Saint Paul , Inc. Kalman & Company. Minneapolis -Saint 1 E. J. Prescott & Co. Minneapolis } AFFIDAVIT OF PUBLICATION • STATE OF MINNESOTA County of Hennepin . ............................... being duly .� sworn, deposes, and says thafhe now is and during the time herein mentioned has been the... .. �!!i!vhipr ......... . of the Commercial West Company, a corporation under the laws of Minnesota and has personal S"nowle ge of the matter in this affidavit set forth; that said corporation, during all said time was, and now is, the proprietor, printer and publisher of the COMMERCIAL WEST, which was during all said time and still is, a weekly newspaper printed and published at the City of Minneapolis, in the County of Hennepin, State of Minnesota; e That the NOt;ice Of Sale ..........hereto at and made a rt hereof was cut and taken from the columns of sai�dt newspaper and wns printe d and published in said newspaper on.....Sq t1 t.,.....the..i. ..day of..Juno ............. A. D. 19.. 62 XK That for more than a year before the commencement of said publication therein and during said Publication the said Commerical West purported to be issued and still purports to be issued in the said City of Minneapolis, and was printed and still is printed in said place in the English language, and in col- umn and sheet form equivalent In space to more than four pages, with five columns to the page each 17% inches long; that during all the time herein mentioned the said newspaper was issued and still is issued every week from a known office (to -wit: 1624 Harmon Place, in said City), established in said place for publication and equipped with skilled workmen and the necessary material for preparation and printing the same; that during all said time said newspaper has contained and still contains general and local news, comment and miscellany, not wholly duplicating any other publication and not entirely made up of patents, plate matter and advertisements, and that said newspaper has been during all said time, and Y still Is, circulated in and near its place of publication to the extent of more than 240 copies, regularly delivered to paying subscribers and has entry as second class matter In its local post office; and that j there has been on file In the office of the County Auditor of Hennepin County, Minnesota, the affidavit of a person having knowledge of the facts, showing the name and location of said newspaper and the existence of the conditions constituting its qualifications as a legal newspaper Subscribed and sworn to before me thiM#day of ..... .............. . A. D. Notary Public, County of nspin. Minn. THOMAS A. BORIGHT, ,{R. Notary PublIC Hennepin County,, Minn, My COMMISSbn expires Ott, is, 1964. "rJ o v � c �'D y Ode r n to y c F t w