5694 RESOLUTION NO. 5,694
A RESOLUTION APPROVING THE SALE OF $10 ,000 ,000
CITY OF LITTLE ROCK, ARKANSAS WATER REVENUE
BONDS, SERIES D, AUTHORIZED BY ORDINANCE
NO. 13, 248; AND PRESCRIBING OTHER MATTERS
RELATING THERETO.
WHEREAS, by Ordinance No. 13, 248 of the Ordinances of
the City of Little Rock, Arkansas (the "City" ) , passed and
approved on the 16th day of March, 1977 (the "Authorizing
Ordinance" ) , there were authorized and ordered sold Water
Revenue Bonds , Series D, in the total principal amount of
$10 , 000 , 000 (the "Bonds" ) , with the bonds to be dated May 1,
1977 , with interest payable semiannually on February 1 and
August 1 of each year, commencing February 1, 1977 , and with
the bonds to mature on February 1 in each of the years 1979
to 1996 , inclusive, and otherwise as described in detail in
the Authorizing Ordinance; and
WHEREAS, pursuant to the authority conferred by the
Authorizing Ordinance, the bonds were duly advertised for
public sale and at the public sale held April 13, 1977 the
following bids were received:
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Page 2
BIDDERS NET INTEREST AVERAGE ANNUAL
COST INTEREST COST
Merrill Lynch, Pierce, Fenner
& Smith, Inc. , et al $5,742,046.96 4.915084%
Loeb Rhoades $5,733,398.63 4.907681%
Dillon, Read & Company, Inc. , N.Y. ,
et al $5,722,862.50 4.898663%
John Nuveen & Company, Incorporated
and Associates $5,761,362.25 4.9316%
The First Boston Corporation
and Associates $5,706,966,13 4.8850%
Smith Barney, Harris Upham &
Company, Incorporated $5,796,078.38 4.961334%
Kidder, Peabody & Company,
Incorporated, and Associates $5,740,531.25 4.91378%
T. J. Raney and Sons, Inc.
Stephens, Inc.
Hill, Crawford and Lanford
Reynolds Securities, Inc. $5,931,038.00 5.076857%
Bache Halsey Stuart, Inc. $5,686,262.50 4.867334%
Weeden & Company, Incorporated,
et al $5,868,392.94 5.02324%
F
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
Section 1. That the bid of Bache Halsey Stuart, Incorporated
for the bonds is hereby found and declared to be the best
bid and the bid is hereby accepted and the bonds sold to the
same, subject to the terms and conditions of the Notice of
Sale of the bonds.
Section 2. That this Resolution is adopted pursuant
to the authority conferred by the Authorizing Ordinance,
and the Authorizing Ordinance, together with and as supple-
mented by this Resolution, shall continue in full force and
effect.
Section 3. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: April 13 , 1977 .
APPROVED:
q:Y4-420%.4)*1414.-----
Mayor
ATTEST:
g?-1.-d/
City Clerk
(SEAL)