HomeMy Public PortalAboutR0651 R E S O L U T I O N NO. 651
A RESOLUTION to accept bid for One Hundred Thousand
Dollars ($100,000.00) 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 City National Bank &
Trust Company, Kansas City, Missouri, for the purchase of One
Hundred Thousand Dollars ($100,000.00) 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 at the rate of three and one-fourth per centum
(3-1/4%) per annum, at and for the price and sum of One Hundred
Thousand, Six Dollars ($100,006.00) and accrued interest to date
of delivery and at a net interest cost of Thirty-Two Thousand,
Three Hundred Thirty-One Dollars and Fifty Cents ($32,331.50) and
that the average interest rate will be 3.249396% 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 One Hundred
Thousand Dollars ($100,000.00) par value of General Obligation
Sewer Bonds of Subdistrict No. Seven of the River des Peres Water
shed (Wellston Area) of The Metropolitan St. Louis Sewer District,
authorized at a special election held in said Subdistrict on July
18, 1961, bearing interest at the rate of three and one-fourth per
centum (3-1/4%) per annum, shall be and the said bonds are hereby
awarded and sold to the City National Bank & Trust Company, Kansas
City, Missouri at and for the price and sum of One Hundred
Thousand, Six Dollars ($100,006.00) and accrued interest to date
of delivery of said bonds, and at a net interest cost of Thirty-
two Thousand Three Hundred Thirty-One Dollars and Fifty Cents
($32,331.50), 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 City National Bank & Trust Company.
BE IT FURTHER RESOLVED that the checks of the
unsuccessful bidders for said bonds shall forthwith be returned to
them upon their respective receipts therefor and that the check of
the successful bidder 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 June 20, 1963.
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