05/22/1978 - City Council Special
MINUTES OF A SPECIAL MEETING OF THE EAGAN CITY COUNCIL
EAGAN, MINNESOTA
MAY 22, 1978
Pursuant to due call and notice thereof, a special
meeting of the Eagan City Council was held on Monday, May 22
1978 at 5:00 p.m. Those present were Mayor Murphy, Council
Members Eagan, Parranto and Smith. Council Member Wachter
was absent. Also present were City Administrator Hedges, City
Clerk Bolke and Mr. Ernest Clark of Miller and Schroeder, Inc.
The City had received four bids for $1,555,000 general
obligation bonds of 1978. A tabulation of the bids is attached
hereto and made a part of this record.
Upon motion of Egan, seconded by Parranto, all members
voting yes, it was RESOLVED that the bid for $1,555,000
General Obligation Bonds of 1978 be awarded to the Northern
Trust Company of Chicago, Illinois for a total interest cost
of $631,916.43 with a net interest rate of 5.28855%.
Upon motion of Parranto, seconded by Smith, it was
RESOLVED to approve the resolution ratifying the sale of
$1,555,000 General Obligation bonds of 1978 and fixing the
form and specifications thereof, providing for their execution
and delivery and creating a fund for their payment.
Upon motion of Parranto, seconded by Egan, it was RESOLVED
that the contract with Fredrickson Excavation Co. Inc. for
Improvement 224A, Ches Mar 4th and 5th Additions utilities in
the amount of $178,194 be executed by the proper City officials.
There being no further business, upon motion duly made
and seconded, the meeting adjourned / at 5:45 p.m.
Dated: May 22, 1978 7F~
Ci Clerk