HomeMy Public PortalAboutR0483 R E S O L U T I O N NO. 483
A RESOLUTION to accept bid for Seven Hundred Fifty
Thousand Dollars ($750,000) of General Obligation Sewer Bonds of
Subdistrict No. Seven of the River des Peres Watershed (Wellston
Area) of The Metropolitan St. Louis Sewer District.
WHEREAS, the bid and offer of JOHN NUVEEN & CO. and
ASSOCIATES, for the purchase of Seven Hundred Fifty Thousand
Dollars ($750,000) of General Obligation Sewer Bonds of
Subdistrict No. Seven of the River des Peres Watershed (Wellston
Area) of The Metropolitan St. Louis Sewer District, bearing
interest as follows:
Maturities Rates of Interest 1963 through 1967 3-1/2% 1968 through 1971 3-1/8% 1972 through 1976 3-1/4% 1977 through 1982 3-3/8%
at and for the price and sum of Seven Hundred Fifty Thousand
Seventy Three Dollars and Fifty Cents ($750,073.50) and accrued
interest to date of delivery and at a net interest cost of Two
Hundred Ninety Six Thousand Two Hundred Sixty Four Dollars
($296,264.00) and that the average interest rate will be 3.3195%
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 No. Seven of the River des
Peres Watershed (Wellston Area) of The Metropolitan St. Louis
Sewer District, authorized at a special election held in said
Subdistrict on July 18, 1961, bearing interest as follows:
Maturities Rates of Interest 1963 through 1967 3-1/2% 1968 through 1971 3-1/8% 1972 through 1976 3-1/4% 1977 through 1982 3-3/8%
shall be and the said bonds are hereby awarded and sold to JOHN
NUVEEN & CO. and ASSOCIATES at and for the price and sum of Seven
Hundred Fifty Thousand Seventy Three Dollars and Fifty Cents
($750,073.50) and accrued interest to date of delivery of said
bonds, and at a net interest cost of Two Hundred Ninety Six
Thousand Two Hundred Sixty Four Dollars ($296,264.00), 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 & CO. and ASSOCIATES.
BE IT FURTHER RESOLVED that the checks 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 January 25, 1962.
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