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Home My Public Portal AboutR1699 R E S O L U T I O N NO. 1699 A RESOLUTION to accept a bid for Ten Million Dollars ($10,000,000.00) in principal amount of General Obligation Sewer Bonds of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District. WHEREAS, the bid and offer of Harris Trust and Savings Bank, Chicago, Illinois and Associates for the purchase of Ten Million Dollars ($10,000,000.00) in principal amount of General Obligation Sewer Bonds of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, bearing interest as follows: Maturities Rates of Interest 1988 to 1991, inclusive 10.40% 1992 and 1993 8.40% 1994 8.70% 1995 8.90% 1996 to 1999, inclusive 9% at and for the price and sum of Ten Million Seven Hundred Eight Dollars ($10,000,708.00), and accrued interest to date of delivery, at a net interest cost of Nine Million Four Hundred Seventy Thousand Four Hundred Ninety-two Dollars ($9,470,492.00), and at an average interest rate of 9.06701%, 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 Ten Million Dollars ($10,000,000.00), 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 Rates of Interest 1988 to 1991, inclusive 10.40% 1992 and 1993 8.40% 1994 8.70% 1995 8.90% 1996 to 1999, inclusive 9% shall be and the said bonds are hereby awarded and sold to Harris Trust and Savings Bank, Chicago, Illinois and Associates at and for the price and sum of Ten Million Seven Hundred Eight Dollars ($10,000,708.00), and accrued interest to date of delivery of said bonds, and at a net interest cost of Nine Million Four Hundred Seventy Thousand Four Hundred Ninety-two Dollars ($9,470,492.00), all in accordance with the terms of sale as set forth and contained in the notice of the sale of said bonds and in proposal submitted by said Harris Trust and Savings Bank, Chicago, Illinois and Associates. BE IT FURTHER RESOLVED that the checks of the unsuccessful bidders for said bonds shall be returned to them forthwith, upon their receipts 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 January 11, 1984.