City Council Minutes 11-09-1960 SpecialOctober 31 1960
Special meeting duly called was held this day. All members present.
After disussing the different investments for the remaining bond
moneies of the village -* Motion by Adamson to adopt a resolution
authorizing the village council to purchase government securities
and directing the Americal National Bank of St. Paul to invest said
securities without charge to the village of Monticello.lhe amounts
as follows; $2509000 for ,8 months and $1009,000 for 6 months.
Second by Hickman. Yes: Adams Adamson Hickman Andersen No: Klein.
Statement by Klein. Upon inquiring at the public examiners office
=was gold that the bond issue was illegal inasmuch as sewer bonds
and not a general improvement bonds of 1960 were voted on by the
people. <
Motion by Adams to Put the balance of $128,000 in the proper fund
at Wright County State Bank. Senond by Adamson. Vote yes; Adams
Adamson, Hickman Anderson No Klein.
Motion by Klein to adopt a resolution to transfer the $10,000 Cert-
ificate of Deposit of supplus liquor fund into the Waterworks sinking
fund to Yelp pay the $40,000 due on June 1, 1963 Socondgby Adams.
Motion by Adamson to table above motion until next meeting. Second
by Hickman Yes; Adams Adamson Hickman No Klein.
On Motion adjourned,
r
a
clerk
Nov 9,1960 p
Special meeting called this day to canvass the vote of general
election . Adams absent. , Q
Motion,by Hickman to accept the report of the election judges and
to certifj*cthe results to the county auditor. Second by Adamson
Carried.
On motion adjouned.
alerk