HomeMy Public PortalAboutR0590 R E S O L U T I O N NO. 590
A RESOLUTION to accept bid for Two Hundred Twenty-five
Thousand Dollars ($225,000.00) of General Obligation Sewer Bonds
of Gravois Creek Trunk Subdistrict of The Metropolitan St. Louis
Sewer District.
WHEREAS, the bid and offer of Reinholdt and Gardner for
the purchase of Two Hundred Twenty-five Thousand Dollars
($225,000.00) 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
1963-64 3%
1965-75 2-3/4%
1976-82 3%
at and for the price and sum of Two Hundred Twenty-five Thousand
Thirty-five Dollars ($225,035.00), and accrued interest to date of
delivery, and at a net interest cost of Seventy Thousand Nine
Hundred Sixty-nine Dollars and Thirty-eight cents ($70,969.38), 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 Two Hundred
Twenty-five Thousand Dollars ($225,000.00) 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
1963-64 3%
1965-75 2-3/4%
1976-82 3%
shall be and the said bonds are hereby awarded and sold to
Reinholdt and Gardner at and for the price and sum of Two Hundred
Twenty-five Thousand Thirty-five Dollars ($225,035.00), and
accrued interest to date of delivery of said bonds, and at a net
interest cost of Seventy Thousand Nine Hundred Sixty-nine Dollars
and Thirty-eight cents ($70,969.38), 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 and
Gardner.
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 November 8, 1962.