1976 02 18
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SPECIAL CHANHASSEN CITY COUNCIL MEETING FEBRUARY 18, 1976
M:tyor Klingelhutz called the meeting to order at 7: 30 p.m. for the purpose of
bid opening on a $2,400,000 Bond Issue. The following members were present:
Councilmen Hobbs, Neveaux, and Kurvers. Councilman Shulstad was absent.
Phil Chenoweth was present.
Bids were received from:
Bancnorthwest, Minneapolis, Minn.
First National Bank of Minneapolis
Net Interest Cost
$ 1,187,952.50
Net Interest Rate
5.8161%
Dain, Kalman & Quail, Inc.
The First National Bank of St. Paul
$ 1,207,687.75
5.9127%
RESOLUTION #76-19: Councilman Hobbs rroved the adoption of a resolution awarding
sale of $2,400,000 Irnproverœnt Bonds of 1976, Series 1, to Bancnorthwest and First
National Bank of Minneapolis at a net interest cost of $1,187,952.50 and net
interest rate of 5.8161%. Resolution seconded by Councilman Neveaux. The
following voted in favor: Mayor Klingelhutz, Councilmen Hobbs, Neveaux, and
Kurvers . No negative votes. M:::>tion carried.
RESOLUI'ION #76-20: Councilman Kurvers rroved the adoption of a resolution
authorizing the issuance of $2,400,000 Irnproverœnt Bonds for 1976, Series 1,
prescribing their terms and form, and providing for their payrœnt. Resolution
seconded by Councilman Hobbs. The following voted in favor: Mayor Klingelhutz,
Councilmen Hobbs, Neveaux, and Kurvers. No negative votes~ ~btion carried.
A rrotion was made by Councilman Neveaux and seconded by Councilman Hobbs to
adjourn. The following voted in favor: Mayor Klingelhutz, Councilmen Hobbs,
Neveaux, and Kurvers. No negative votes. M3eting adjourned at 8:00 p.m.
Jerry Schlenk
Acting Clerk-Administrator