HomeMy Public PortalAboutR0137 R E S O L U T I O N NO. 137
A RESOLUTION to accept bid for Seven Hundred Fifty
Thousand Dollars ($750,000) of General Obligation Sewer Bonds of
Subdistrict Number One of the River des Peres Watershed (Creve
Coeur-Frontenac Area) of The Metropolitan St. Louis Sewer
District.
WHEREAS, the bid and offer of THE MERCANTILE TRUST CO.,
G. H. WALKER & CO., STIFEL-NICOLAUS & CO., INC. and NEWHARD COOK &
CO. for the purchase of Seven Hundred Fifty Thousand Dollars
($750,000) of General Obligation Sewer Bonds of Subdistrict Number
One of the River des Peres Watershed (Creve Coeur-Frontenac Area)
of The Metropolitan St. Louis Sewer District, bearing interest as
follows:
Maturities Rates of Interest 1959 - 1962 5% 1963 - 1977 4-1/4%
at and for the price and sum of Seven Hundred Fifty Thousand One
Hundred Fifty-nine and No/100 Dollars ($750,159.00), and accrued
interest to date of delivery, and at a net interest cost of Three
Hundred Eighty-three Thousand Two Hundred Seventy-two and 25/100
Dollars ($383,272.25) 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 Seven
Hundred Fifty Thousand Dollars ($750,000), par value of General
Obligation Sewer Bonds of Subdistrict Number One of the River des
Peres Watershed (Creve Coeur-Frontenac Area) of The Metropolitan
St. Louis Sewer District, authorized at a special election held in
said Subdistrict on March 19, 1957, bearing interest as follows:
Maturities Interest Rates 1959 - 1962 5% 1963 - 1977 4-1/4%
shall be and the said bonds are hereby awarded and sold to THE
MERCANTILE TRUST CO., G. H. WALKER & CO., STIFEL-NICOLAUS & CO.,
INC. and NEWHARD COOK & CO., at and for the price and sum of Seven
Hundred Fifty Thousand One Hundred Fifty-nine Dollars
($750,159.00), add accrued interest to date of delivery of said
bonds, and at a net interest cost of Three Hundred Eighty-three
Thousand Two Hundred Seventy-two and 75/100 Dollars ($383,272.25),
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 MERCANTILE TRUST CO., G.H. WALKER &
CO., STIFEL-NICOLAUS & CO., INC., and NEWHARD COOK & CO.
BE IT FURTHER RESOLVED, that the check of the
unsuccessful bidders for said bonds shall forthwith be returned to
them upon their receipt therefor, and that the check of the
successful 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 August 7, 1957.