HomeMy Public PortalAboutR0694 R E S O L U T I O N NO. 694
A RESOLUTION to accept bid for Sixteen Million Dollars
($16,000,000) of General Obligation Sewer Bonds of The Mississippi
River Subdistrict of The Metropolitan St. Louis Sewer District.
WHEREAS, the bid and offer of The First Boston
Corporation and Associates for the purchase of Sixteen Million
Dollars ($16,000,000) of General Obligation Sewer Bonds of The
Mississippi River Subdistrict of The Metropolitan St. Louis Sewer
District, bearing interest as follows:
Maturities Rate of Interest
1965-1966 5%
1967-1974 2.80% 1975-1976 2.90% 1977-1982 3.00%
1984-1984 3.10%
at and for the price and sum of Sixteen Million Five Thousand Two
Hundred Eighty Dollars ($16,005,280.00) and accrued interest to
date of delivery and at a new interest cost of Five Million One
Hundred Fifty Five Thousand Six Hundred Ninety Dollars
($5,155,690.00) and at an average interest rate of 3.00115% 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 Sixteen
Million Dollars ($16,000,000) par value of General Obligation
Sewer Bonds of the Mississippi River Subdistrict of The
Metropolitan St. Louis Sewer District, authorized at a special
election held in said Subdistrict on November 6, 1962, bearing
interest as follows:
Maturities Rate of Interest
1965-1966 5%
1967-1974 2.80%
1975-1976 2.90%
1977-1982 3.00%
1983-1984 3.10%
shall be and the said bonds are hereby awarded and sold to The
First Boston Corporation and Associates at and for the price and
sum of Sixteen Million Five Thousand Two Hundred Eighty Dollars
($16,005,280.00) and accrued interest to date of delivery of said
bonds, and at a net interest cost of Five Million One Hundred
Fifty Five Thousand Six Hundred Ninety Dollars ($5,155,690.00),
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 The First Boston Corporation and
Associates.
BE IT FURTHER RESOLVED that the check of the
unsuccessful bidders for said bond 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 January 16, 1964.
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