HomeMy Public PortalAboutR0945 R E S O L U T I O N NO. 945
A RESOLUTION to direct the sale of Fourteen Million
Dollars ($14,000,000), of Ninety-five Million Dollars
($95,000,000) authorized, Bonds of the Mississippi River
Subdistrict of The Metropolitan St. Louis Sewer District
authorized at an election held in said subdistrict on the 6th day
of November, 1962.
BE IT RESOLVED by the Board of Trustees of The
Metropolitan St. Louis Sewer District that Fourteen Million
Dollars ($14,000,000), of Ninety-five Million Dollars
($95,000,000) authorized, Bonds of the Mississippi River
Subdistrict of The Metropolitan St. Louis Sewer District,
authorized at the special election held in said Subdistrict on the
6th day of November, 1962, be offered for sale to the highest
bidder therefor on Wednesday, the 12th day of July 9, 1967.
BE IT FURTHER RESOLVED that said bonds be sold on
sealed bids to be filed with the Secretary-Treasurer of this Board
at the Offices of said Board, 2000 Hampton Avenue, St. Louis,
Missouri, at or before the hour of 11:00 o'clock A.M., Central
Daylight Saving Time, on the aforesaid date; each bid to be
accompanied by a certified or cashier's check payable to the order
of the Secretary-Treasurer of The Metropolitan St. Louis Sewer
District in the amount of Two Hundred Eighty Thousand Dollars
($280,000), to evidence the good faith of the bidder, this Board
of Trustees reserving the right to reject any or all bids
submitted.
BE IT FURTHER RESOLVED that bidders for said bonds
shall be requested to designate in their bids the price they will
pay for bonds bearing interest at a rate or rates, but not more
than five (5) different rates, likewise to be designated in their
bids, provided, however, that each interest rate so designated
shall be a whole multiple of one-eighth of one per centum (1/8 of
1%) or one-tenth of one per centum (1/10 of 1%) and that all bonds
of the same maturity shall bear interest at the same rate. No
bond shall bear interest at more than one (1) rate, and any bid
will be rejected which specifies supplemental, detachable interest
coupons to be attached to said bonds or specifies interest rates
the highest of which exceeds the lowest of which by more than two
per centum (2%) per annum.
BE IT FURTHER RESOLVED that in determining the best bid
submitted the Board will take into consideration the lowest net
interest cost to the District, in dollars.
BE IT FURTHER RESOLVED that the Secretary-Treasurer be
and he is hereby authorized and directed to give notice of the
sale of said bonds by mailing to interested banks bond houses, and
investment bankers in the State of Missouri and elsewhere a notice
in substantially the following form: NOTICE OF BOND SALE $14,000,000 (Fourth Offering of $95,000,000 Authorized) MISSISSIPPI RIVER SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, MISSOURI GENERAL OBLIGATION SEWER BONDS
Sealed proposals will be received by the Board of
Trustees of The Metropolitan St. Louis Sewer District, Missouri,
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at its offices, 2000 Hampton Avenue, St. Louis, Missouri 63139,
until the hour of 11:00 o'clock A.M., C.D.S.T., on Wednesday the
12th day of July, 1967, at which time said bids will be publicly
opened for the purchase, at not less than par and accrued
interest, of the above bonds of said subdistrict.
Said bonds are to bear date of August 1, 1967, are to
be of the denomination of One Thousand Dollars ($1,000) or of the
denomination of Five Thousand Dollars ($5,000), to be designated
by the purchaser thereof, shall be registrable as to principal
only, and shall bear interest at a rate or rates, not exceeding
five per centum (5 %) per annum, to be determined pursuant to the
sale of said bonds payable February 1, 1968, and semi-annually
thereafter on August 1 and February 1 in each year. Both
principal of and interest on said bonds will be payable at a bank
or trust company in the City of St. Louis, Missouri, or, at the
option of the bondholder, at a bank or trust company located in
the Borough of Manhattan City and State of New York, each to be
designated by the purchaser subject to approval by the Board of
Trustees, such designation to be made within forty-eight (48)
hours following award of the issue. Said bonds shall mature
serially, without option of prior payment, on February 1 in each
of the years as follows: $ 325,000 in 1968 $ 520,000 in 1978 350,000 in 1969 545,000 in 1979 370,000 in 1970 565,000 in 1980 395,000 in 1971 590,000 in 1981 415,000 in 1972 615,000 in 1982 430,000 in 1973 645,000 in 1983 445,000 in 1974 670,060 in 1984 460,000 in 1975 700,000 in 1985 485,000 in 1976 735,000 in 1986
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505,000 in 1977 4,235,000 in 1987
In the opinion of Counsel, these bonds will be payable, both as to
principal and interest, from ad valorem taxes which may be levied,
without limitation as to rate or amount, upon all taxable,
tangible property within the territorial limits of the
Subdistrict.
Bidders are requested to designate in their bids the
price they will pay for bonds bearing interest at a rate or rates,
but not more than five (5) different rates, likewise to be
designated in their bids. One rate specified more than one time
shall be considered as one rate and not as a different rate each
time it is specified. All bonds of the same maturity shall bear
interest at one and the same rate, which shall be as a whole
multiple of either one-eighth of one per centum (1/6 of 1%) or
one-tenth of one per centum (1/10 of 1%). No bond shall bear
interest at more than one (1) rate, and any bid will be rejected
which specifies supplemental, detachable interest coupons to be
attached to said bonds or specifies interest rates the highest of
which exceeds the lowest of which by more than two per centum (2%)
per annum.
Proposals should be addressed to the Board of Trustees
and should be filed with the Secretary-Treasurer of the Board on
or prior to the date and hour hereinabove named. Each bid must be
accompanied by a certified or cashier's check, payable to the
Secretary-Treasurer of the District, in the amount of Two Hundred
Eighty Thousand Dollars ($280,000), to evidence the good faith of
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the bidder.
Proposals tendered by mail should be addressed to the
Board of Trustees of The Metropolitan St. Louis Sewer District,
2000 Hampton Avenue, St. Louis, Missouri, 63139, should be plainly
marked "PROPOSAL FOR BONDS."
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The Board of Trustees reserves the right to reject any
or all bids, and all bids must be made on the form supplied by the
undersigned.
These bonds are offered subject to the unqualified
approval of the legality thereof by the law firm of Charles and
Trauernicht of St. Louis, Missouri. The District will pay the
legal fees and will pay for the printing of the bonds, including
the printing thereon of the legal opinion, if desired by the
purchaser. Delivery of the bonds will be made to the purchaser on
or before August 25, 1967, in the City of St. Louis, Missouri, the
City of Chicago, Illinois, or the City of New York, New York,
without cost to the purchaser. Delivery elsewhere will be made at
the expense of the purchaser. At the time of delivery, the
purchaser of these bonds shall make payment for these bonds and
the interest accrued thereon in Federal Reserve funds available on
the date of such delivery.
Copies of the official Notice of Sale, Bid Form, and
Official Statement may be obtained from the Secretary-Treasurer of
the Board of Trustees.
By order of the Board of Trustees this 14th day of
June, 1967. CHARLES CLARDY Secretary-Treasurer, Board of Trustees The Metropolitan St. Louis Sewer District A. RAY PARKER Chairman, Board of Trustees The Metropolitan St. Louis Sewer District
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BE IT FURTHER RESOLVED that the Secretary-Treasurer
shall attach to each copy of the aforesaid notice a financial
statement showing the assessed valuation of taxable, tangible
property within the subdistrict, the population of the subdistrict
and such other data as prospective bidders for said bonds
reasonably might be expected to require.
BE IT FURTHER RESOLVED that the Secretary-Treasurer of
this Board shall cause notice of the sale of said bonds, in
substantially the form hereinabove set forth, to be published one
time in The Bond Buyer, a financial journal published in the City
of New York, New York, which said publication shall be made not
less than ten (10) days prior to the date set for the sale of said
bonds. The said notice also shall be published in the St. Louis
Post Dispatch and in the St. Louis Globe-Democrat, newspapers of
general circulation published in The Metropolitan St. Louis Sewer
District, each such publication also to be made at least ten (10)
days prior to the date of sale.
BE IT FURTHER RESOLVED that the bidding form to be used
in bidding for the aforesaid bonds shall be substantially as
follows: PROPOSAL FOR THE PURCHASE OF $14,000,000 (Fourth Offering of $95,000,000 Authorized) GENERAL OBLIGATION SEWER BONDS OF THE MISSISSIPPI RIVER SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, MISSOURI July ______ , 1967 To the Board of Trustees of The Metropolitan St. Louis Sewer District 2000 Hampton Avenue St. Louis, Missouri, 63139
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Gentlemen:
For Fourteen Million Dollars ($14,000,000), (Fourth
Offering of Ninety-five Million Dollars ($95,000,000) authorized,
par value, General Obligation Sewer Bonds of the Mississippi River
Subdistrict of The Metropolitan St. Louis Sewer District,
Missouri, bearing interest at the rate or rates specified below,
we will pay you
_____________________________________________________________
($ ___________) and accrued interest to the date of delivery of
said bonds to us.
The said bonds shall bear interest as follows:
Maturities Interest Rates
It is hereby represented that the gross interest cost,
computed upon the above specified rate or rates of interest, will
be $ ___________, that the net interest cost (deducting premium,
if any) will be $ ___________, and that the average interest rate
will be ______ %.
It is understood and agreed by the undersigned that, if
there be any discrepancy as between the actual interest cost or
average interest rate computed upon the rate or rates of interest
above specified and the interest cost or average interest rate
figures hereinabove set forth, the interest rate or rates above
specified and the actual interest cost or average interest rate
computed upon said rate or rates shall prevail.
This proposal is subject to all of the terms and
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conditions of the Notice of Bond Sale, which by this reference is
hereby made a part hereof.
The undersigned shall notify the Secretary-Treasurer of
the Board of Trustees of the Designations of bond denomination and
paying agents, as contemplated by the Notice of Bond Sale, within
forty-eight (48) hours after the acceptance of this bid.
A certified or cashier's check in the amount of Two
Hundred Eighty Thousand Dollars ($280,000), payable to The
Metropolitan St. Louis Sewer District, accompanies this proposal
as evidence of good faith, and said check shall be returned to the
undersigned if this bid be not accepted or if the District should
fail to deliver the said bonds to the undersigned in accordance
with the terms of this bid; otherwise, said check shall be held by
the District and shall be applied as and when the bonds are
delivered and paid for under the terms of this bid, as part
payment therefor, or be applied as and for liquidated damages in
the event that the undersigned fails to take up and pay for said
bonds.
This bid is for immediate acceptance.
______________________________
______________________________
(NOTE: No addition to or alteration in this proposal
is to be made, and any erasure may cause a rejection of the bid.
Bids must be filed with the Board of Trustees of The Metropolitan
St. Louis Sewer District, sealed, at or prior to 11:00 o'clock
A.M., C.D.S.T., on Wednesday, the 12th day of July, 1967.)
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ACCEPTANCE
The above proposal accepted by resolution of the Board
of Trustees of The Metropolitan St. Louis Sewer District,
Missouri, and receipt of the within-mentioned check hereby
acknowledged, this ______ day of July, 1967.
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______________________________ Chairman, Board of Trustees _______________________________ Secretary-Treasurer Board of Trustees (SEAL)
BE IT FURTHER RESOLVED that the Secretary-Treasurer
shall attach a copy of the aforesaid notice to each copy of the
aforesaid bidding form, to the end that each notice of sale,
wherein the details of the issue are set forth, may be accompanied
by the form upon which a bid for the bonds may be made. The foregoing Resolution was adopted June 14, 1967.