11-28-1978 Town Board MinutesMinutes of the Boar of Audit of the Town of Otsego Town Board Meeting
Held Nov. 28, 1978.
State of Minn. The Town Board of the Town of Otsego met this 28 day of
Co. of Wright November, 1978. Lloyd Beaudry Chairman, Virginia
Town of Otsego Bistodeau and William Schulz, Supervisors, Jerome
Perrault, Clerk, William Radzwill and Dennis Plane,
Attorneys were present.
Bids were received for the sale of $205,000. in General Obligation
Road bonds.
First National Bank of Minneapolis submitted a bid of $5,8974%.
The bonds are to be in denominations of $5,000.00 with the maturity
dates as follows: Nov. 1, 1980 - $15,000.00
Nov. 1, 1981,1982,1983,1984 - $20,000.00 each year.
Nov. 1, 1985 and 1986 - $ 25,000.00 each year.
Nov. 1, 1987 and 1988 - $ 30,000.00 each year.
Allison Williams submitted a bid of $6.3974% with maturity dates same
as above.
First National Bank of St. Paul submitted a Bid of 6.204% with maturity
dates same as above.
Motion made by Lloyd Beaudry to accept the bid of First National
Bank of Minneapolis seconded by Virginia Bistodeau, passed unanimously.
Motion made by Lloyd Beaudry authorizing the project engineer
(Meyer-Rohlin) to prepare the assessment rolls,for Walesch Estates
(Project A) and 80th Street and Mason Ave. (Project B), .seconded by
Virginia Bistodeau, passed unanimously.
Motion made by Lloyd Beaudry to hold an assessment hearing on
Projects A and B on January 15, 1979 at 8:00 p.m., seconded by Willian
Schulz, passed unanimously.
David Reemts and David Fricke, Zoning Administrator, appeared
before the Board to discuss Mr. Reemts application for a variance to
obtain a permit to erect a storage building. Mr. Fricke's position was
that it should not be granted because it meant an expansion of a non-
conforming business. Wilmer Nordin reported that the matter had been
discussed at the Nov. 9 meeting of the Otsego Planning Commission but
no decision was made.
William Schulz asked that if the Town Board would recommend re-
zoning Mr. Reemts property, what the County Planning Commission would
do. Mr. Fricke stated that after the first of the year the Township
Planning Commission will be asked to review the Township's Land Use
Plan and make their recommendations as to how it should be implemented.
Furnace bids were discussed. Bill Schulz reported that he will
have 2 bids to be submitted by the 'Dec. 4, Town Board Meeting.
The Town Board discussed with Vernon Morrell about the new regu-
lations concerning the Constable position to be a full time constable
he must attend school for 8 weeks at his own expense. He can be a
deputy constable and not be required to attend school. The voters of
the Township must decide at the annual town meeting whether they want
a Constable or a Deputy Constable.
Attest:
On motion, the meeting adjourned.
$205,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1978
Town of Otsego
Wright County, Minnesota
TO: Town of Otsego
Wright County
Attn: Town Clerk
OPTIONAL BID FORM
Bid date: November 28, 1978
8:00 o'clock P.M., C.T.
Net Interest Rate:5 8974
Total Interest Cost: $78,730.50
For all, butnot less' than all, of an issue of $205,
General000mGe0 r
Obligation Improvement Bonds of 1978 of the Town,
dated 1978, and maturing on'November .1 in the years and amounts as follows:
'$15,000 in the ;year 1980;, $20,000 in the years 19981 to 91984;
$25,
, $25, 1988;
in the years 1985 and 1986; and $30,000 in the years
in accordance with -a notice of)sale published on November 18, (noi,'
in Commercial West, we will pay the .sum of $ 2Q3 032
less than $203,000),- _.plus accrued interest to nate of delivery for„
bonds bearing interest at the rates specified below:
per annum.
per annum
per annum
per 'annum
per annum
per annum
per annum
per annum
per annum
per annum
per annum
for bonds maturing
for bonds maturing
for,bonds maturing
for; bonds maturing
fpr bonds maturing
for bonds maturing
for bonds maturing
for bonds maturing
for bonds maturing
for bonds maturing
for bonds maturing
First interest due: May 1, 1979
Bonds in denominations of $5,000
We designate
in
in
in
in
in
in
in
in
the
the
the
the
the
the
the
the
years 1980 to 1988
years
years
years
years
years
years
years
in 'the years'
in the years
in the years
as paying agent.
This offer is made subject to approval
byM Minnesota, Messrs.
Leaevere,to Lefler,
yof
Pearson, O'Brien & Drawz of Minneapolis,
prior to delivery, you agreeing to furnish us
said obligations,
promptly and prior to the delivery of said obligations with a complete
transcript of all proceedingSChdotherincident
certificatessandntakef suchd
.
obligations, and to furnish
U
further action as may be necessary to make such obligation a legal
and binding obligation of the Town of Otsego.
You further agree to pay
such service charge as the paying agent named
herein may charge for handling of interest coupons and principal al payments
of the above-described obligations, and to pay
opinion and the printing of the obligations for signature.
of
This bid is made for prompt acceptance. As evidence of our good
faith, we attach hereto our certified check for $4,000 made
payable to your order, which may be used as liquidated damages in
event we fail to comply with the above conditions.
Respectfully submitted this 28th day of November, 1978.
First National•Bank of Minneapolis
(lXn
By Vd.t QtiGr), 1,4t9tt,—
EchaniL.
Whelan - Bond Investment Officer
The foregoing offer is hereby accepted for and on behalf of the
above named Town and receipt of the above-mentioned check for
$4,000 is hereby acknowledged by the undersigned duly qualified
officers.
TOWN OF OTSEGO
By
13y
Dated:
Chairman
Town Clerk
$205,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1978
Town of Otsego
Wright County, Minnesota
OPTIONAL BID FORM
TO: Town of Otsego Bid date: November 28, 1978
Wright County 8:00 o'clock P.M., C.T,
Attn: Town Clerk Net Interest Rate: 6.3974
Total Interest Cost: $85,405.50
For all, but not less than all, of an issue of $205,000 General
Obligation Improvement Bonds of 1978 of the Town, dated November 1,
1978, and maturing on November.1 in the years and amounts as follows:
, $15,000 in theyear ]980;:$20,000 in the years 1981 to 1984; $25,000
in the years 1985 and'1986;,and $30,000 in the years 1987 and 1988;
in accordance with a'notice.of sale published on November 18, 1978,
in Commercial West, we will,; pay the sum of $203,032 (not
less than $203,000), plus accrued interest to date of delivery for•;
bonds -bearing interest at the rates specified below:
6.25% per annum for bonds maturing in the years 1980 to 1988
% per annumfor: bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in�the years
% per annum for bonds maturing in the years
% per annum for bonds maturing in the years
First interest due: May 1, 1979
Bonds in denominations of $5,000
We designate of
as paying agent.
This offer is made subject to approval by Messrs. LeFevere, Lefler,
Pearson, O'Brien & Drawz of Minneapolis, Minnesota, as to legality of
said obligations, prior to delivery, you agreeing to furnish us
promptly and prior to the delivery of said obligations with a complete
transcript of all proceedings had incident to the issuance of said
obligations, and to furnish such other certificates and take such
further action as may be necessary to make such obligation a legal
and binding obligation of the Town of Otsego.
You further agree to pay such service charge as the paying agent named
herein may charge for handling of interest coupons and principal payments
of the above-described obligations, and to pay for the approving legal
opinion and the printing of the obligations for signature.
This bid is made for prompt acceptance. As evidence of our good
faith, we attach hereto our certified check for $4,000 made
payable to your order, which may be used as liquidated damages in
event we fail to comply with the above conditions.
Respectfully submitted this 28th day of November, 1978.
Allison -W'
ateat
ohn Its•
The foregoing offer is hereby accepte• - ti
`r an' oneaeleto�ge Pres.
above named Town and receipt of the a•e-mentio eck
$4,000 is hereby acknowledged by the undersigned duly qualified
officers.
TOWN OF OTSEGO
By
By
Dated:
Chairman
Town Clerk
$205,000 GENERAL OBLoIWGAATIONOIMPRROo IMPROVEMENT BONDS OF 1978
ofWright County, Minnesota
TO: Town of Otsego
• Wright County
4•Attn: Town Clerk
OPTIONAL BID FORM
Bid date: "November 28, 1978
8:00 o'clock P.M.,'C.T.
Net Interest Rate: 6,204
Total Interest Cost: $82,833.75
- For all, but not, less -than all, of an issue of $205,000 General
Obligation"Improvement Bonds of 1978 of the Town,'` dated November 1',
1978, and maturing on November 1 in the years and amounts as follows:
000 in the years
'$15000 in the year ',,1980;�;:}}`$20► 1981 to 1984; $25,000
in the years 1985 and 1986; and $30,000 in the years 1987 and 1988,
in accordance with a notice of sale published on November 18, 19781
in Commercial. West, we will pay the sum of $' 203,001.25
less than $203, 000) ;.plus accrued interest toT date of delivery }£o}•
bonds bearing interest at the rates specified below:
6.00%. ,per annum ,for bonds
6.20% per annum,;or bonds
5.90% per annum .for bonds
5.95% per 'annum for bonds
6.00% per annum for bonds
' % per annum for bonds
% per annum for bonds
% per annum for bonds
% per annum for bonds
% per annum for bonds
% per annum for bonds
First interest due: ,May 1, 1979
Bonds in denominations of'•'$5,000
We designate the First National Bank
as paying agent.
maturing
maturing
maturing
maturing
maturing
maturing
maturing
maturing
maturing
maturing
maturing
the years
i'n the years
in the years
in the years
in the years
in the year s
in the :years
in the years
in'the years
in the years
in the years
1980
9 S_.? _t,o 1985
1986
1987
1988
Saint Paul, Minnesota
This offer is made subject to approval by Messrs. LeFevere, Lefler•,
Pearson, O'Brien & Drawz,of Minneapolis, Minnesota, as to legality of
said obligations, prior to•delivery, you agreeing to furnish us
promptly and prior to the delivery of said obligations' with a complete
transcript of all proceedings had incident to the issuance of said
obligations, and to furnish such other certificates and take such,
further action as may be necessary to make such obligation a legal'
and;: binding obligation of.,the Town of Otsego:
You further agree to pay such service charge as the paying agent
herein may charge for handling of interest coupons and principal
of the above-described obligations, and to pay for the approving
opinion and the printing of the obligations for signature.
named
payments
legal