HomeMy Public PortalAboutR0429 R E S O L U T I O N NO. 429 RESOLUTION TO ACCEPT BID FOR TWO HUNDRED TWENTY THOUSAND DOLLARS ($220,000) OF GENERAL OBLIGATION SEWER BONDS OF BENEFIT SUBDISTRICT NO. 111 (Marlborough) OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT.
WHEREAS, the bid and offer of Reinholdt & Gardner and
the Commerce Trust Company for the purchase of Two Hundred Twenty
Thousand Dollars ($220,000) of general Obligation Sewer Bonds of
Benefit Subdistrict No. 111 (Marlborough) of The Metropolitan St.
Louis Sewer District, bearing interest as follows:
Maturities Rates of Interest 1962 through 1971 3-7/8% 1972 3-1/2% 1973 3-7/8% 1974 3.80% 1975 3-3/4% 1976 3.80% 1977 through 1981 3-7/8%
at and for the price and sum of Two Hundred Twenty Thousand,
Nineteen Dollars and Eighty Cents ($220,019.80) and accrued
interest to data of delivery, and at a net interest cost of
Ninety-seven Thousand, Six Hundred Twenty Dollars and Forty-five
Cents ($97,620.45), 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 Two Hundred
Twenty Thousand Dollars ($220,000), par value, of General
Obligation Sewer Bonds of Benefit Subdistrict No. 111
(Marlborough) of The Metropolitan St. Louis Sewer District,
authorized at a special election held in said Subdistrict on
December 8, 1960, bearing interest as follows:
Maturities Rates of Interest 1962 through 1971 3-7/8% 1972 3-1/2% 1973 3-7/8% 1974 3.80% 1975 3-3/4% 1976 3.80% 1977 through 1981 3-7/8%
shall be and the said bonds are hereby awarded and sold to
Reinholdt & Gardner and Commerce Trust Company at and for the
price and sum of Two Hundred Twenty Thousand, Nineteen Dollars and
Eighty Cents ($220,019.80) and accrued interest to date of
delivery of said bonds, and at a net interest cost of Ninety-seven
Thousand, Six Hundred Twenty Dollars and Forty-five Cents
($97,620.45); 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 Reinholdt & Gardner and Commerce
Trust Company.
BE IT FURTHER RESOLVED that the checks of the
unsuccessful bidders for said bonds shall forthwith be returned to
them upon their receipts 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 July 20, 1961.
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