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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.