Loading...
HomeMy Public PortalAboutR0963 R E S O L U T I O N NO. 963 A RESOLUTION to accept bid for Nine Hundred Thirty-five Thousand Dollars ($935,000.00) General Obligation Sewer Bonds of the Watkins Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer District. WHEREAS, the bid and offer of Commerce Trust Company and Associates for the purchase of Nine Hundred Thirty-five Thousand Dollars ($935,000.00) of General Obligation Sewer Bonds of the Watkins Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer District, bearing interest as follows: Maturities Rate of Interest 1969 - 1977 Inclusive 4-3/4% 1978- 1982 " 4.30% 1983- 1987 " 4.40% at and for the price and sum of Nine Hundred Thirty-five Thousand Dollars ($935,000.00), and accrued interest to date of delivery and at a net interest cost of Four Hundred Eighty-four Thousand Seven Hundred Fifty-two Dollars and fifty cents ($484,752.50), and at an average interest rate of 4.431516% 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 Nine Hundred Thirty-five Thousand Dollars ($935,000.00) par value General Obligation Sewer Bonds of the Watkins Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer District, authorized at a special election held in said subdistrict on April 11, 1967, bearing interest as follows: Maturities Rate of Interest 1969 - 1977 Inclusive 4-3/4% 1978 - 1982 " 4.30% 1983 - 1987 " 4.40% shall be and the said bonds are hereby awarded and sold to Commerce Trust Company and Associates at and for the price and sum of Nine Hundred Thirty-five Thousand Dollars ($935,000.00), and accrued interest to date of delivery of said bonds, and at a net interest cost of Four Hundred Eighty-four Thousand Seven Hundred Fifty-two and fifty cents ($484,752.50), 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 Commerce 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 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 October 11, 1967.