HomeMy Public PortalAboutR0765 R E S O L U T I O N NO. 765
A RESOLUTION to accept bid for Twenty Million Dollars
($20,000,000) of General Obligation Sewer Bonds of The Mississippi
River Subdistrict of The Metropolitan St. Louis Sewer District.
WHEREAS, the bid and offer of the account jointly
managed by The Chase Manhattan Bank, First National City Bank,
Bankers Trust Company and Continental Illinois National Bank and
Trust Co. of Chicago for the purchase of Twenty Million Dollars
($20,000,000) 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
1966 thru 1968 Inc. 4%
1969 3-1/2%
1970 thru 1975 Inc. 2-3/4%
1976 thru 1981 Inc. 2.90%
1982 thru 1985 Inc. 3%
at and for the price and sum of Twenty Million Four Thousand and
00/100 Dollars ($20,004,000.00), and accrued interest to date of
delivery and at a net interest cost of Six Million Seven Hundred
Sixty Seven Thousand Nine Hundred Ninety Seven and 50/100 Dollars
($6,767,997.50), and at an average interest rate of 2.95146% 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 Twenty
Million Dollars ($20,000,000) 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
1966 thru 1968 Inc. 4%
1969 3-1/2%
1970 thru 1975 Inc. 2-3/4%
1976 thru 1981 Inc. 2.90%
1982 thru 1985 Inc. 3%
shall be and the said bonds are hereby awarded and sold to The
Chase Manhattan Bank, First National City Bank, Bankers Trust
Company and Continental Illinois National Bank and Trust Co. of
Chicago at and for the price and sum of Twenty Million Four
Thousand Dollars ($20,004,000), and accrued interest to date of
delivery of said bonds and at a net interest cost of Six Million
Seven Hundred Sixty Seven Thousand Nine Hundred Ninety Seven and
50/100 Dollars ($6,767,997.50), 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 the account jointly
managed by The Chase Manhattan Bank, First National City Bank,
Bankers Trust Company and Continental Illinois National Bank and
Trust Co. of Chicago.
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-
3
Treasurer pending delivery of the said bonds in accordance with
the terms of sale.
4
The foregoing Resolution was adopted January 20, 1965.