07/22/1981 - City Council Special
MINUTES OF A SPECIAL MEETING OF THE EAGAN CITY COUNCIL
EAGAN, MINNESOTA
JULY 22, 1981
A special meeting of the Eagan City Council was held on July 22,
1981, at 5:30 p.m. at the Eagan City Hall. Those present were Mayor Blomquist,
Councilmembers Egan and Wachter. City Councilmembers Smith and Parranto were
absent. Also present were City Administrator Hedges and Director of Finance
VanOverbeke. Also present was the City's fiscal consultant, Mr. Ernie Clark,
representing Miller & Schroeder Municipals, Inc.
$4,530,000 GENERAL OBLIGATION IMPROVEMENT BOND SALE
The results of the July 22, 1981 $4,530,000 General Obligation and
Improvement Bond Sale were distributed by Mr. Ernie Clark, the City's fiscal
consultant, representing Miller & Schroeder Municipals, Inc. Mr. Clark reported
that the low bidder was "Bank Northwest, Dain Bosworth, Inc., First Bank Minnea-
polis and the First Bank of St. Paul". The interest rate was set at 10.70124%
with a total net interest of $3,389,083.50. After further discussion on the
matter and in a motion by City Councilmember Egan, seconded by Councilmember
Wachter, with all members voting aye, the low bid for a $4,530,000 General Obli-
gation Improvement Bond Sale was approved to Bank Northwest, Dain Bosworth,
Inc., First Bank Minneapolis, and the First National Bank of St. Paul.
Dated: July 22, 1981 TLH
b JA12
City Clerk