CCR1975057aTl;e Council dctcrmined, upon ex;mination of tile foresoin:: c!ctails of propods,
that the kst pIo11osal was that subrr!iited by Dain, Kalman E Quail, Inc., Minneapolis,
Minnesota , a~~d associatcs, at a n:t interest rate of
6.6452%.
Upon motion nmie anti tluiy szconded, the following rcsolutiorl vas adopted
upon roll call by a vote of 6 to 0
Resolution No. 57
WHEREAS this City has duly received sealed proposals for its issue of
$910,000 Promissory Notes; and
WHEREAS it has been determined that the best propcsal received was
that submitted by Dain, Kalman E Quail, Inc., Minneapolis,
Minnesota , and associates;
NOW, THEREFORE, BE IT RESOLVED that the proposal of Da i n , !a I man
& Quail, Inc., Minneapolis, Minnesota , and associates, b- and it
hereby is accepted ad the Mayor and City Clerk are authorized and
directed to execute an acccptance of the offer of said successful purchaser
on bzhalf of the City;
FLJRI'HER RESOLVED that the check of the successful purchaser be
retained by the City Treasurer until actual closing of the note issue and
checks of the unsuccessful bidders be promptly returned.
.,
Upon motion made and duly seconded, the following resolution was adopted,
upon roll call by a vote of 6 to 0 .