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HomeMy Public PortalAboutR0544 R E S O L U T I O N NO. 544 WHEREAS, by Ordinance No. 90 of The Metropolitan St. Louis Sewer District, adopted July 23, 1956, directing the issuance of $125,000.00 General Obligation Sewer Bonds of Subdistrict No. Two of the River des Peres Watershed (Vinita Park Area) of The Metropolitan St. Louis Sewer District, dated August 1, 1956, provision was made that, at the option of the Board of Trustees of The Metropolitan St. Louis Sewer District, any or all of bonds numbered Twenty-one (21) to One Hundred Twenty-five (125), inclusive may be called in, paid, and redeemed, in inverse numerical order, on February 1, 1961, or on any interest payment date thereafter, at 103% of their principal amount if redeemed prior to February 1, 1962, with successive reductions of 1/4 of 1% on February 1, 1962 and on each February 1 thereafter, to 100% of their principal amounts together in each case, with interest accrued to the redemption date; and WHEREAS, said Board has not heretofore exercised said option; and WHEREAS, the sum of $10,000 is now available for the redemption of the outstanding bonds of said issue according to the terms thereof; and WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District now wishes to exercise such option; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT that the Board of Trustees of The Metropolitan St. Louis Sewer District hereby exercises its option, in accordance with the provisions of aforesaid Ordinance No. 90 by ordering that those bonds numbered One Hundred Sixteen (116) to One Hundred Twenty-five (125) inclusive, of aforesaid issue dated August 1, 1956 and maturing February 1, 1976, are hereby called in for payment and redemption on August 1, 1962, at 102-3/4% of their principal amount, with intent accrued to the redemption date. BE IT FURTHER RESOLVED, that the Secretary-Treasurer be and he is hereby authorized and directed to give notice of the call for the redemption of said bonds, as provided by Ordinance No. 90, which notice shall be in substantially the following form: 3 NOTICE OF CALL FOR BOND REDEMPTION To: Owners and holders of the following described bonds of SUBDISTRICT NUMBER TWO OF THE RIVER DES PERES WATERSHED (VINITA PARK AREA) OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, dated August 1, 1956 TAKE NOTICE that bonds of the denomination of One Thousand Dollars ($1,000.00) each, numbered 116 to 125, inclusive, of the original issue of One Hundred Twenty-five Thousand Dollars ($125,000.00) of bonds of Subdistrict Number Two of the River des Peres Watershed (Vinita Park Area) dated August 1, 1956, have been called for payment and redemption on August 1, 1962. The said bonds therefore shall be presented for payment at the Mercantile Trust Company, in St. Louis, Missouri, on aforesaid date, after which date no further interest will accrue on said bonds. By Order of the Board of Trustees of The Metropolitan St. Louis Sewer District this 25th day of June 1962. Charles Clardy Acting Secretary-Treasurer 4 BE IT FURTHER RESOLVED, that the Secretary-Treasurer be and he is hereby directed to obtain proof of the publication of said notice and to file and preserve the same in his office, and that said Secretary-Treasurer be and he is hereby further directed prior to August 1, 1962, to remit to the paying agent designated in said bonds the funds required to pay and redeem the bonds herein called for payment and redemption on said date. The foregoing Resolution was adopted June 25, 1962.