City Council Minutes 10-26-1977 Special
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MONTICELLO CITY COUNCIL
SPECIAL MEETING
October 26, 1977 -- 11:30 A. M.
Members present: Con Johnson, Arve Grimsmo, Dan Blonigen,
Philip Whi e, Gene Walters.
The following bids were rec
Improvement Bonds of 1977:
the $3,470,000 G. o.
Account Manager
Net Interest
Dollar Cost
Net Interest
and Rate
Continental Illinois
Nat'l. Bank & Trust Co.
of Chicago
$1,893,683.98
5.3129
1st Nat'l. Bank of St. Paul
Dain, Kalman, Quail, Inc.
$1,866.700.91
$1,855,755.64
5.2372
BancNorthwest
5.20658
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Motion by G. Walters, secon ed by P. White to adopt
resolution awarding sale of bonds to BancNorthwest and to
adjust the interest rate to 6 3/4% for the assessable
portion of the project. VO ing in favor: C. Johnson,
A. Grimsmo, P. White, G. Walters. Abstaining: D.
Blonigen. Motion carried.
adjourned.
ieber
Administrator
GW/lg
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