FCM19890425FINANCE COMMITTEE - CITY OF MUSKEGO
MINUTES OF MEETING HELD TUESDAY, APRIL 25, 1989
The meeting was called to order at 7:00 P.M. by Chairman
Salentine. Also pesent were Committee Members H. Sanders, Dumke and Hilt, Ald. D. Sanders, Ald. Simmons, Ald. Taube and Financial
Consultant Seegar Swanson.
The Committee reviewed lease for Idle Isle Concession Stand.
Ald. Hilt moved to defer action on lease until further review by
the Parks & Recreation Board. Seconded by Ald. Dumke, motion
carried.
The Committee discussed a request from DeLuca Hartman
Construction Co. to sign a Cancellation Agreement & Mutual
Release which would release them from the Offer to Purchase they
had submitted to the City for a 3.1 acre parcel fronting on
Enterprise Drive, west of Mercury in the Muskego Industrial Park,
as they could not meet the contingency requirements of the signed
agreement. Ald. H. Sanders moved to recommend approval of
cancellation of agreement. Seconded by Ald. Hilt, motion
carried.
The Committee reviewed attached Bid Tabulation for the 1989
Borrowing with Financial Consultant Seegar Swanson. Ald. Dumke
moved to recommend acceptance of low bid from First National
Association, Minneapolis, of 6.9876%. Seconded by Ald. H.
Sanders, motion carried.
Ald. Dumke moved to recommend approval of General Vouchers in the amount of $222,490.76 and Utility Vouchers in the amount of
$70,815.42. Seconded by Ald. H. Sandes, motion carried.
The meeting adjourned at 7~25 P.M.
Respectful ,ly submitted,
1 J. Hilt Ald. Danie
Secretary
ca
Attachment: Ehlers and Associates, Inc. Bid Tabulation
Ehlers and Associates, Inc.
LEADERS IN PUBLIC FINANCE
BID TABULATION
$775,000 G. 0. Promissory Notes
Muskego, Wisconsin
Rated “A” by Moody’s
NAME OF BIDDER
SALE: April 25, 1989
COUPON
RATE YEAR
NET INTEREST COST
AND RATE PRICE
FIRST BANK NATIONAL
ASSOCIATION, MPLS
6.75% 1991193
6.80% 1994/96
6.90% 1997/99
THE NORTHERN TRUST COMPANY
Chicago, IL
6.80% 1991/92
6.85% 1993/94
6.90% 1995196
6.95% 1997/98
7.00% 1999
Minneapolis, Mi
a ONIN & CO.. INC. 6.75%
6.80%
6.85%
6.90%
7.00%
FIRST WISCONSIN
NATIONAL BANK
Milwaukee. WI
6.95% 1991
7.00% 1992199
ROBERT W. BAIRD & CO., INC
Milwaukee, WI
6.90% 1991194
6.95% 1995
7.00% 1996199
GRIFFIN, KUBIK, STEPHENS
& THOMPSON, INC.
Chicago, IL
7.125% 1991199
BANK ONE, MILWAUKEE, NA
Milwaukee, WI
nk One, Waukesha, NA
6.90% 1991192
6.95% 1993195
7.00% 1996197
7.05% 1998
7.10% 1999
1991
1992193
1994
1995197
1998199
$368.600.00 $768,025.00
6.9876%
$371,085.00 $769,652.50
7.0347%
$372.353.25 $768,234.25
7.0588%
$373,772.50 $770,427.50
7.0857%
$374,687.50 $768,4 12.50
7.10308%
$375,843.75 $775,000.00
7.125%
$376,122.50 $769,265.00
7.1302%
OFFICES IN MINNEAPOLIS AND WAUKESHA
20700West Watertown Road. Waukesha, WI 531861804 ~414-785-1520