HomeMy Public PortalAboutR0493 R E S O L U T I O N NO. 493
A RESOLUTION to accept bid for Four Hundred Thousand
Dollars ($400,000) of General Obligation Sewer Bonds of Gravois
Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer
District.
WHEREAS, the bid and offer of Mercantile Trust Company
and Newhard, Cook & Company for the purchase of Four Hundred
Thousand Dollars ($400,000) of General Obligation Sewer Bonds of
Gravois Creek Trunk Subdistrict of The Metropolitan St. Louis
Sewer District, bearing interest as follows: Maturities Rates of Interest 1963 through 1973 3 % 1974 " 1978 3-1/4 % 1979 " 1980 3-3/10% 1981 " 1982 3-3/8 %
at and for the price and sum of Four Hundred Thousand Thirty-six
Dollars and Forty-eight cents ($400,036.48), and accrued interest
to date of delivery, and at a net interest cost of One Hundred
Forty-five Thousand Ninety-four Dollars and seventy-seven cents
($145,094.77), is the lowest 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 Four Hundred
Thousand Dollars ($400,000) par value of General Obligation Sewer
Bonds of Gravois Creek Trunk Subdistrict of The Metropolitan St.
Louis Sewer District, authorized at a special election held in
said Subdistrict on August 30, 1960, bearing interest as follows:
2
Maturities Rates of Interest 1963 through 1973 3 % 1974 through 1978 3-1/4 % 1979 through 1980 3-3/10% 1981 through 1982 3-3/8 %
shall be and the said bonds are hereby awarded and sold to
Mercantile Trust Company and Newhard, Cook & Company at and for
the price and sum of Four Hundred Thousand Thirty-six Dollars and
forty-eight cents ($400,036.48), and accrued interest to date of
delivery of said bonds, and at a net interest cost of One Hundred
Forty-five Thousand Ninety four Dollars and seventy-seven cents
($145,094.77), 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 Company and
Newhard, Cook & Company.
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 February 19, 1962.