HomeMy Public PortalAboutR0900 R E S O L U T I O N NO. 900
A RESOLUTION to accept bid for One Hundred Thousand
Dollars ($100,000) of General Obligation Sewer Bonds of
Subdistrict No. 221 (North Kinloch) of The Metropolitan St. Louis
Sewer District,
WHEREAS, the bid and offer of Mercantile Trust Company
N.A., First National Bank in St. Louis and The Bank of St. Louis
for the purchase of One Hundred Thousand Dollars ($100,000) of
General Obligation Sewer Bonds of Subdistrict No. 221 (North
Kinloch) of The Metropolitan St. Louis Sewer District, bearing
interest as follows:
Maturities Rate of Interest
1968- 1986 5%
at and for the price and sum of One Hundred Thousand Dollars
($100,000) and accrued interest to date of delivery and at a net
interest cost of Sixty-five Thousand Five Hundred Dollars
($65,500), and at an average interest rate of 5.00% 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) par value of General Obligation Sewer
Bonds of Subdistrict No. 221 (North Kinloch) of The Metropolitan
St. Louis Sewer District, authorized at a special election held in
said subdistrict on February 8, 1966, bearing interest as follows:
Maturities Rate of Interest
1968- 1986 5%
shall be and the said bonds are hereby awarded and sold to
Mercantile Trust Company N.A., First National Bank in St. Louis
and The Bank of St. Louis at and for the price and sum of One
Hundred Thousand Dollars ($100,000) and accrued interest to date
of delivery of said bonds, and at a net interest cost of Sixty-
five Thousand Five Hundred Dollars ($65,500), 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
Mercantile Trust Company N.A., First National Bank in St. Louis
and The Bank of St. Louis.
BE IT FURTHER RESOLVED 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 October 31, 1966.