HomeMy Public PortalAboutR0049 R E S O L U T I O N NO. 49
A RESOLUTION to accept bid for One Million Seven
Hundred Thousand Dollars ($1,700,000) of General Obligation Sewer
Bonds of Maline Creek Trunk Subdistrict of The Metropolitan St.
Louis Sewer District.
WHEREAS, the bid and offer of John Nuveen & Company and
Associates, for the purchase of One Million Seven Hundred Thousand
Dollars ($1,700,000) of General Obligation Sewer Bonds of Maline
Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer
District, bearing interest as follows:
Maturities Rates of Interest 1958 through 1961 3-1/2% 1962 through 1968 3% 1969 through 1976 3-1/4%
at and for the price and sum of One Million Seven Hundred One
Thousand Four Hundred Eighty-five Dollars and Eighty Cents
($1,701,485.80), and accrued interest to date of delivery, and at
a net interest cost of Six Hundred Forty-three Thousand Fifty-one
Dollars and Seventy Cents ($643,051.70), is the highest and best
bid made and offered for said bonds;
NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees
of The Metropolitan St. Louis Sewer District that the One Million
Seven Hundred Thousand Dollars ($1,700,000), par value, of General
Obligation Sewer Bonds of Maline Creek Trunk Subdistrict of The
Metropolitan St. Louis Sewer District, authorized at a special
election held in said subdistrict on February 7, 1956, bearing
interest as follows:
Maturities Rates of Interest 1958 through 1961 3-1/2% 1962 through 1968 3% 1969 through 1976 3-1/4%
shall be and the said bonds are hereby awarded and sold to John
Nuveen & Company and Associates, at and for the price and sum of
One Million Seven Hundred One Thousand Four Hundred Eighty-five
Dollars and Eighty Cents ($1,701,485.80), and accrued interest to
date of delivery, and at a net interest cost of Six Hundred Forty-
three Thousand Fifty-one Dollars and Seventy Cents ($643,051.70),
all in accordance with the terms of sale as set forth and
contained in the notice of the sale of said bonds and in the
proposal submitted by said John Nuveen & Company and Associates.
BE IT FURTHER RESOLVED that the check of the
unsuccessful bidders for said bonds shall forthwith be returned to
them upon their receipt therefore, and that the check of the
unsuccessful bidders shall be held uncashed by the Secretary-
Treasurer pending delivery of the said bonds in accordance with
the terms of sale. The foregoing Resolution was adopted March 14, 1956.