HomeMy Public PortalAboutR1005 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.