Loading...
R1005 R E S O L U T I O N NO. 1005 RESOLUTION to accept bid for Eighty-Two Thousand Dollars ($82,000) of General Obligation Sewer Bonds of Subdistrict No. 257 (Rayburn Avenue Subtrunk) of The Metropolitan St. Louis Sewer District. WHEREAS, the bid and offer of The Bank of St. Louis for the purchase of Eighty-Two Thousand Dollars ($82,000) of General Obligation Sewer Bonds of Subdistrict No. 257 (Rayburn Avenue Subtrunk) of The Metropolitan St. Louis Sewer District, bearing interest as follows: Maturities Rate of Interest 1972-1988 5% at and for the price and sum of Eighty-Two Thousand Dollars ($82,000), and accrued interest to date of delivery and at a net interest cost of Fifty-One Thousand Seven Hundred Dollars ($51,700), 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 Eighty-Two Thousand Dollars ($82,000) par value of General Obligation Sewer Bonds of Subdistrict No. 257 (Rayburn Avenue Subtrunk) of The Metropolitan St. Louis Sewer District, authorized at a special election held in said Subdistrict on November 28, 1968, bearing interest as follows: Maturities Rate of Interest 1972-1988 5% shall be and the said bonds are hereby awarded and sold to The Bank of St Louis at and for the price and sum of Eighty-Two Thousand Dollars ($82,000), and accrued interest to date of delivery of said bonds, and at a net interest cost of Fifty-One Thousand Seven Hundred Dollars ($51,700), 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 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 August 1, 1968.