12-11-1974 CC MIN - SPECIAL
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SPECIAL MEETING
ELK RIVER CITY COUNCIL
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December 11, 1974 12:00 o'clock noon
A special meeting of the Elk River City Council was called to order by Mayor Lundberg
at 12:00 o'clock noon in the Council Chambers of the City Hall for the purpose
of opening and considering bids for and awarding the sale of $360,000.00 Temporary
G.O. Improvement Bonds of 1974 and $180,000.00 Municipal Building Revenue Bonds of 197~
Members were present as follows; Mayor Lundberg, Councilmembers Syring and Hudson.
Financial Advisor for Bond Sales Robert Milne was in attendance.
12:10 PM. Mayor Lundberg declared the receiving of the bids closed. The following
bids were received.
BIDDER INTEREST RATE AND NET INTEREST COST
See per attached bid tabulation.
Moved by Councilmember Hudson and seconded by Councilmember Syring to award the
sale of the $360,000.00 Temporary G.O. Improvement Bond of 1974 to 1st National Bank
of Minneapolis. Motion unanimously carried by a vote of 3-0. Voted as follows:
Mayor Lundberg, Councilmembers Hudson and Syring None apposed. A copy of the
resolution is attached.
Moved by Councilmember Syring and seconded by Councilmember Hudson to award the sale
of the $180,000.00 Municipal Building Revenue Bonds of 1974 to Allison Williams.
Motion unanimously carried by a vote of 3-0. Voted as follows: Mayor lundberg,
Councilmembers Hudson and Syring. None apposed. A copy of the resolution is attached.
No further business the meeting adjourned at 12:30 PM.