HomeMy Public PortalAboutR0845 R E S O L U T I O N NO. 845
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 Halsey, Stuart and Co.,
Inc. and Associates 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
1967 -1970 5%
1971 -1978 3.25%
1979 -1980 3.30%
1981 1986 3.40%
at and for the price and sum of Twenty Million One Thousand Four
Hundred Dollars ($20,001,400.00), and accrued interest to date of
delivery and at a net interest cost of Eight Million Thirteen
Thousand One Hundred Forty Dollars ($8,013,140.00), and at an
average interest rate of 3.40868% 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:
3
Maturities Rate of Interest
1967 - 1970 5%
1971 - 1978 3.25%
1979 - 1980 3.30%
1981 - 1986 3.40%
shall be and the said bonds are hereby awarded and sold to Halsey,
Stuart and Co., Inc. and Associates at and for the price and sum
of Twenty Million One Thousand Four Hundred Dollars
($20,001,400.00), and accrued interest to date of delivery of said
bonds and at a net interest cost of Eight Million Thirteen
Thousand One Hundred Forty Dollars ($8,013,140.00), 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 Halsey, Stuart and Co., Inc. and Associates.
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 January 19, 1966.