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HomeMy Public PortalAboutR1995 R E S O L U T I O N NO. 1995 A Resolution of The Metropolitan St. Louis Sewer District awarding the bid for $13,350,000 principal amount of General Obligation Sewer Refunding Bonds, Series 1991, of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District; and authorizing certain other actions in connection with the sale of the Bonds. RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, AS FOLLOWS: Section 1. That the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, Missouri (the "Subdistrict"), has offered at competitive public sale $13,350,000 principal amount of its General Obligation Sewer Refunding Bonds, Series 1991 (the "Bonds"), and sealed bids for the Bonds were received by the Subdistrict, at 10:00 A.M., Local Time, on June 19, 1991, at the office of Karl J. Tyminski (the "Secretary-Treasurer"). Section 2. That notice of said sale was given by mailing copies of the Notice of Sale and Preliminary Official Statement to investment banking firms and banks and other financial institutions located throughout the United States. The Notice of Sale was also published at least one time prior to the date of sale in the St. Louis Post-Dispatch, published in St. Louis, Missouri. Section 3. The Preliminary Official Statement and Notice of Sale dated June 7, 1991, attached hereto as Exhibit "A", are hereby ratified, confirmed and adopted. Section 4. That pursuant to said Notice the following Bids were submitted to the Subdistrict for the $13,350,000 General Obligation Sewer Refunding Bonds, Series 1991: NET TRUE BIDDER INTEREST COST DISCOUNT INTEREST COST The Boatmen's National Bank of St. Louis 7,173,700.81 132,683.25 6.382693% Bear, Stearns & Co, Inc. 7,358,052.94 263,696.50 6.5911% Dean Witter Reynolds, Inc. 7,416,696.77 265,932.55 6.6393% George K. Baum & Company 7,309,252.11 186,690.00 6.521888% The First Boston Corporation 7,426,772.19 265,108.80 6.6560% - 2 - Section 5. That the Secretary-Treasurer of the District has determined that the bid submitted by The Boatmen's National Bank of St. Louis was the best bid submitted for the Bonds, the best bid being determined based on the lowest net interest cost to the Subdistrict, and has recommended to the Board of Trustees of the District the acceptance of said bid. Section 6. The bid of The Boatmen's National Bank of St. Louis is accepted as the best bid submitted at public sale on June 19, 1991, for the purchase of $13,350,000 General Obligation Sewer Refunding Bonds, Series 1991 of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, and the Chairman of the Board of Trustees or the Secretary-Treasurer of the District is authorized to enter into a contract selling the Bonds to The Boatmen's National Bank of St. Louis on the basis of said bids and the terms specified in the Notice of Sale. Section 7. The principal of and interest on the Bonds shall be payable in lawful money of the United States of America at Mercantile Bank of St. Louis National Association, in the City of St. Louis, Missouri, said bank being hereby designated as the Subdistrict's paying agent for the payment of the principal of and interest on the Bonds. Section 8. The Chairman of the Board of Trustees of the District and the Secretary-Treasurer of the District are hereby authorized and directed to execute said Bonds and such other documents and take such other actions as may be necessary to effectuate said borrowing on behalf of the Subdistrict. Section 9. All actions taken by the staff, administration, and advisors to the District pertaining to the publication of the Notice of Sale and the sale of said Bonds are hereby ratified, confirmed, and adopted. Section 10. That this Resolution shall be in full force and effect from and after its adoption by the District on behalf of the Subdistrict. [Remainder of page intentionally left blank.] - 3 - ADOPTED by the Board of Trustees of The Metropolitan St. Louis Sewer District, this 19th day of June, 1991. Thomas Matheny, Chairman of the Board of Trustees of The Metropolitan St. Louis Sewer District ATTEST: (Seal) Karl J. Tyminski, Secretary-Treasurer of The Metropolitan St. Louis Sewer District - 4 - I, the undersigned Karl J. Tyminski, Secretary-Treasurer of The Metropolitan St. Louis Sewer District, hereby certify that the above and foregoing is a true and correct copy of the Resolution of the District passed and adopted by the Board of Trustees of the District on June 19, 1991, authorizing the sale of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District's General Obligation Sewer Refunding Bonds, Series 1991, in the principal amount of $13,350,000 as the same appears in the records of the District, and that said Resolution has not been modified, amended or repealed and that the same remains in full force and effect as of the date hereof. WITNESS my hand and seal of the District this day of July, 1991. Karl J. Tyminski, Secretary-Treasurer of The Metropolitan St. Louis Sewer District The foregoing Resolution was adopted June 19, 1991. - 5 - DOCUMENT NAME: RESOLUTION RE BIDS AUTHOR'S NAME: RTHOMAS CLIENT NUMBER: 01351 CLIENT NAME: MSD MATTER NUMBER: 26231 MATTER NAME: MISSISSIPPI FILESHARE ITEM ID: 911280043 VERSION ID: 4 FILENAME: BIDSRES.BND TYPIST USERS NAME: ZTaylor TODAY'S DATE: June 3, 1991 COMMENTS: MACRO BOND3 DO NOT DISCARD THIS PAGE