HomeMy Public PortalAboutR0531 R E S O L U T I O N NO. 531
A RESOLUTION to accept bid for Four Million Five
Hundred Thousand Dollars ($4,500,000) of Sewerage System Revenue
Bonds of Coldwater Creek Trunk Subdistrict of The Metropolitan St.
Louis Sewer District.
WHEREAS, the bid and offer of Lehman Brothers and
Associates for the purchase of Four Million Five Hundred Thousand
Dollars ($4,500,000) of Sewerage System Revenue Bonds of Coldwater
Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer
District, bearing interest as follows: Maturities Rates of Interest 1964 to 1969 Inclusive 5% 1970 to 1979 Inclusive 3-1/4% 1980 to 1985 Inclusive 3-1/2% 1986 to 1992 Inclusive 3-3/4%
at and for the price and sum of Four Million Five Hundred Two
Thousand Four Hundred Seventy-five Dollars ($4,502,475), and
accrued interest to date of delivery, and at a net interest cost
of Three Million Forty-nine Thousand Five Hundred Eighty-seven
Dollars and fifty cents ($3,049,587.50), 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 Four Million
Five Hundred Thousand Dollars ($4,500,000), par value of Sewerage
System Revenue Bonds of Coldwater 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 1964 to 1969 Inclusive 5% 1970 to 1979 Inclusive 3-1-4% 1980 to 1985 Inclusive 3-1/2% 1986 to 1992 Inclusive 3-3/4%
shall be and the said bonds are hereby awarded and sold to Lehman
Brothers and Associates at and for the price and sum of Four
Million Five Hundred Two Thousand Four Hundred Seventy-five
Dollars ($4,502,475), and accrued interest to date of delivery of
said bonds, and at a net interest cost of Three Million Forty-nine
Thousand Five Hundred Eighty-seven Dollars and fifty cents
($3,049,587.50), 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 Lehman Brothers and Associates.
BE 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 May 28, 1962.