3230 ■ a r
RESOLUTION NO. 3,230
A RESOLUTION AWARDING TO PURCHASER THE CITY OF
LITTLE ROCK, ARKANSAS WATER REVENUE BONDS,
SERIES C, DATED AUGUST 1, 1964, IN THE PRINCIPAL
AMOUNT OF $4,800,000
WHEREAS the City of Little Rock, Arkansas (called
"City") duly advertised by publication in The Bond Buyer and
otherwise, and now has under consideration the sale of $4,800,000
City of Little Rock, Arkansas Water Revenue Bonds, Series C,
dated August 1, 1964 (called "Series C Bonds") ; and
WHEREAS the following bids were received:
Halsey, Stuart & Company, Inc. , Dabbs Sullivan Company, Inc. , &
Associates: Aggregate amount of interest upon all of the Bonds
from August 1, 1964 until their respective maturities $2 ,991,972.50,
Less Premium of $1,056.00, at a Net Interest Cost of $2,990,916.50,
with Average Annual Interest Cost 3.36758 percent;
Kidder, Peabody & Company and Associates: Aggregate amount of
interest upon all of the bonds from August 1, 1964 until their
respective maturities $3, 021,460.00, Less Premium of $530.00, at
a Net Interest Cost of $3,020,930.00, with Average Annual Interest
Cost of 3.4013 percent;
White, Weld & Company, and Associates: Aggregate amount of interest
upon all of the bonds from August 1, 1964 until their respective
maturities $3,017,355.00, Less Premium of $4,320.00, at a Net Interest
Cost of $3, 013,035. 00, with Average Annual Interest Cost 3.39248
percent;
F. S . Smithers & Company and Associates: Aggregate amount of interest
upon all of the Bonds from August 1, 1964 until their respective
maturities $3, 012,230.00, with No Premium, at a Net Interest Cost of
$3, 012,230.00, with Average Annual Interest Cost 3.3915;
Equitable Securities Corporation and Associates: Aggregate amount of
interest upon all of the Bonds from August 1, 1964 until their respective
maturities $2 ,985,540.00, Less Premium of $470.00, at a Net Interest
Cost of $2,985,070.00, with Average Interest Cost 3.3609975 percent;
The First Boston Corporation, New York City; Hill, Crawford & Lanford,
Inc. , Little Rock; W. H. Satterfield & Company, Inc. , Little Rock;
Harrow Smith & Company, Little Rock, and Womeldorff & Lindsey, Little
Rock: Aggregate amount of interest upon all of the Bonds from August 1,
1964 until their respective maturities $3,038, 005.00, Less Premium of
$8, 016.00, at a Net Interest Cost of $3,029,989 .00, with Average Annual
Interest Cost 3.41157 percent.
WHEREAS the City has received and considered the said
bids:
Page 2
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LI JJTLE ROCK, ARKANSAS :
SECTION 1. That the bid of Equitable Securities
Corporation and Associates, for the Series C Bonds is hereby found
and declared to be the best bid and said bid is hereby accepted, subject
to the terms and conditions of the Notice of Sale of the Series C
Bonds.
ADOPTED: October 21, 1964
ATTEST(.„--D APPROVED: /%.
City Cler - Mayor