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SPECIAL COUNCIL MEETING <br /> CITY OF R~MS~ <br /> O3UNT~ OF gNOKA <br /> STATE OF MINNESOTA <br /> <br />A special meeting of the Ramsey City Council was' held on October 17, 1978, <br />at the Ramsey Municipal Center, 15153 Nowthen Blvd. N.W., Ramsey, Minnesota, <br />55503. <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 Mickelson <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 />$545,000.-00.-.We:~had:received-four_ bids:prior_to-the_October <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 AttorneyGoodrich'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 />CouncilmanMuller 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 CouncilmannReimarmand seconded by CouncilmanMuller 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 Reimarm 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 />