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SPF. CIAL COUNCIL MEETING <br /> CITY OF RAMSEY <br /> COUNTY OF ~NOKA <br /> STATE OF MINNESOTA <br /> <br />A special meeting of the Ramsey City Council ~as~ held on October 17, 1978, <br />at the Ramsey Municipal Center, 15153 Nowthen Blvd. N.W., Ramsey, Minnesota, <br />55303. <br /> <br />The meeting was called to order by Councilman Muller at 6:45 P.M. <br /> <br />Present: <br /> <br />Councilman Muller <br />Councilman Reimann <br />Councilman Gamec <br /> <br />Also Present: <br /> <br />City Attorney Goodrich <br />City Engineer Raatikka <br />City Administrator Schnelle <br /> <br />Absent' <br /> <br />Mayor Cox <br />Councilman M]ckelson <br /> <br />City Attorney Goodrich stated the sale of bonds notice had been published <br />in the City's official paper and in Commercial West, in the amount of <br />$345,000.00. We had received four bids prior to the October 17, 1978 <br />3:00 P.M. deadline. City Attorney Goodrich asked if there were any more <br />bids from the audience and-there were none. City Attorney Goodrich stated <br />at this time the City of Ramsey had been given a rating of Baa-1 which is <br />very good considering this is our first bond. <br /> <br />Councilman Muller read the bids and they are as follows: <br /> <br />Allison-Williams Company interest rate of 5.9925% for <br />a total interest of $143,820.00 <br /> <br />First National Bank of Minneapolis interest rate of <br />5.865145% for a total interest of $140,763.50 <br /> <br />Piper, Jaffray & Hopwood, Inc. interest rate of 5.7166% <br />for a total interest of $137,200.00 <br /> <br />American National Bank and Trust Company of St. Paul, <br />Minnesota interest rate 5.5693% for a total interest <br />of $133,665.50 <br /> <br />Motion by Councilmann Reimann and seconded by Councilman Muller to adopt <br />Resolution 78-27 to award the sale of $345,000.00 General Obligation Improve- <br />ment Bonds of 1978; fixing their form and specifications; directing their <br />execution and delivery; and providing for their payment at an interest rate <br />of 5.5693%. Please refer to Resolution 78-27 for further details. <br /> <br />Motion carried. Voting yes Councilman Gamec, Councilman Reimann and <br />Councilman Muller. Voting no None. <br /> <br />Motion by Councilman Gamec and seconded by Councilman Muller to adjourn <br />the special meeting. <br /> <br />It was stated they did not need to adjourn as they could go right into the <br />next item of business. <br /> <br /> <br />