HomeMy Public PortalAboutR0667 R E S O L U T I O N NO. 667
A RESOLUTION to accept bid for Five Million Dollars
($5,000,000) of Sewerage System Revenue Bonds of Coldwater Creek
Trunk Subdistrict of The Metropolitan St Louis Sewer District.
WHEREAS, the bid and offer of John Nuveen and Company
and Associates for the purchase of Five Million Dollars
($5,000,000) of Sewerage System Revenue Bonds of Coldwater Creek
Trunk Subdistrict of The Metropolitan St. Louis Sewer District;
bearing interest as follows:
Maturities Rate of Interest 1966 thru 1970 4-1/8% 1971 thru 1981 3-1/4% 1982 thru 1988 3-1/2% 1989 thru 1992 3.60%
at and for the price and sum of Five Million and One Hundred
Fifteen Dollars and Sixty-four cents ($5,000,115.64) and accrued
interest to date of delivery and at a net interest cost of Three
Million One Hundred Twenty Thousand Seven Hundred Forty Dollars
($3,120,740) and at an average interest rate of 3.488% 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 Five Million
Dollars ($5,000,000) 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:
Maturities Rate of Interest 1966 thru 1970 4-1/8% 1971 thru 1981 3-1/4%
1982 thru 1988 3-1/2% 1989 thru 1992 3.60%
shall be and the said bonds are hereby awarded and sold to John
Nuveen and Co. and Associates at and for the price and sum of Five
Million One Hundred Fifteen Dollars and Sixty-four Cents
($5,000,115.64) and accrued interest to date of delivery of said
bonds, and at a net interest cost of Three Million One Hundred
Twenty Thousand Seven Hundred Forty Dollars ($3,120,740), 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 Johns Nuveen and Co. and Associates.
BE IT FURTHER RESOLVED that the checks of the un-
successful 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 August 7, 1963
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