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.
Be also expressed his complete
satisfaction with the gas
operation.
Motion was made and seconded to
hire Roman G. Fins at an hourly rate of
$1.45, effective June 15th, 1962.
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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.
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