HomeMy Public PortalAboutR0960 R E S O L U T I O N NO. 960
A RESOLUTION to direct the sale of Nine Hundred Thirty-
five Thousand Dollars ($935,000), Bonds of the Watkins Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District,
authorized at an election held in said Subdistrict on the 11th day
of April, 1967.
BE IT RESOLVED by the Board of Trustees of The
Metropolitan St. Louis Sewer District that Nine Hundred Thirty-
five Thousand Dollars ($935,000), Bonds of the Watkins Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District,
authorized at the special election held in said subdistrict on the
11th day of April, 1967, be offered for sale to the highest bidder
therefor on Wednesday, the 11th day of October, 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 Eighteen Thousand Seven Hundred Dollars
($18,700), 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 four (4) 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 $935,000 WATKINS CREEK TRUNK 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,
at its offices, 2000 Hampton Avenue, St Louis, Missouri, 63139,
until the hour of 11:00 o'clock A.M., Central Daylight Saving
Time, on Wednesday, the 11th day of October, 1967, at which time
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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 November 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, shall be registrable as to principal only, and
shall bear interest at a rate or rates, not exceeding six per
centum (6%) 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
at a place 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, on February 1 in each of the years as
follows: 45,000 in 1978 30,000 in 1969 50,000 in 1979 30,000 in 1970 50,000 in 1980 35,000 in 1971 55,000 in 1981 35,000 in 1972 60,000 in 1982 40,000 in 1973 60,000 in 1983 40,000 in 1974 65,000 in 1984 40,000 in 1975 65,000 in 1995 45,000 in 1976 70,000 in 1986 45,000 in 1977 75,000 in 1987
Said bonds shall be callable on February 1, 1978 or any
interest payment date thereafter, prior to maturity, at par and
accrued interest, and in inverse numerical order.
In the opinion of Counsel, these bonds will be payable,
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both as to principal and interest, from ad valorem taxes which may
be levied, without limitations as to rate or amount, upon all
taxable, tangible property within the territorial limits of the
subdistrict.
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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 four (4) 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 (1/8 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 Eighteen
Thousand Seven Hundred Dollars ($18,700), to evidence the good
faith of 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, and should be
plainly marked "PROPOSAL FOR BONDS."
The Board of Trustees reserves the right to reject any
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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
within forty-five days after the date of sale, without cost to 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 7th day of
September, 1967. CHARLES CLARDY Secretary-Treasurer, Board of Trustees The Metropolitan St. Louis Sewer District FRANK L. RAMACCIOTTI Chairman, Board of Trustees The Metropolitan St. Louis Sewer District
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
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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.
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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 $935,000 GENERAL OBLIGATION SEWER BONDS OF WATKINS CREEK TRUNK SUBDISTRICT THE METROPOLITAN ST. LOUIS SEWER DISTRICT, MISSOURI October _______, 1967 To the Board of Trustees of The Metropolitan St. Louis Sewer District 2000 Hampton Avenue St. Louis, Missouri, 63139 Gentlemen:
For Nine Hundred Thirty-five Thousand Dollars
($935,000), par value, General Obligation Sewer Bonds of the
Watkins Creek Trunk Subdistrict of The Metropolitan St. Louis
Sewer District, Missouri, bearing interest at the rate or rates
specified below, we will pay you
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____________________________________________________ ($
___________) 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
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 designation of the paying agent, 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
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Eighteen Thousand Seven Hundred Dollars ($18,700), payable to the
order of the Secretary-Treasurer of 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 11th day of October, 1967.)
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 11th day of October, 1967. ______________________________ Chairman, Board of Trustees _______________________________
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Secretary-Treasurer, Board of Trustees (SEAL)
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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 September 7, 1967.