HomeMy Public PortalAboutR0952 R E S O L U T I O N NO. 952
A RESOLUTION to accept bid for Fourteen Million Dollars
($14,000,000) of General Obligation Sewer Bonds of The Mississippi
River Subdistrict of The Metropolitan St. Louis Sewer District.
WHEREAS, the bid and offer of Bankers Trust Company and
Associates for the purchase of Fourteen Million Dollars
($14,000,000) 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
1968 - 74 4-7/8%
1975 - 77 3-3/4%
1978 - 79 3.80%
1980 - 83 3.90%
1984 - 87 4%
at and for the price and sum of Fourteen Million Nine Thousand One
Hundred Fourteen Dollars ($14,009,114.00), and accrued interest to
date of delivery and at a net interest cost of Seven Million Four
Hundred Ninety Six Thousand Nine Hundred Thirteen Dollars and
fifty cents ($7,496,913.50), and at an average interest rate of
3.995264% 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 Fourteen
Million Dollars ($14,000,000) 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
1968 - 74 4-7/8%
1975 - 77 3-3/4%
1978 - 79 3.80%
1980 - 83 3.90%
1984 - 87 4.00%
shall be and the said bonds are hereby awarded and sold to Bankers
Trust Company and Associates at and for the price and sum of
Fourteen Million Nine Thousand One Hundred Fourteen Dollars
($14,009,114.00), and accrued interest to date of delivery of said
bonds, and at a net interest cost of Seven Million Four Hundred
Ninety-Six Thousand Nine Hundred Thirteen Dollars and fifty cents
($7,496,913.50), 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 said Bankers Trust Company 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 therefore, 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.
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The foregoing Resolution was adopted July 12, 1967.