5768 RESOLUTION NO. 5,768
A RESOLUTION AWARDING TO PURCHASERS THE CITY OF
LITTLE ROCK, ARKANSAS GENERAL OBLIGATION IMPROVE-
MENT BONDS DATED FEBRUARY 1, 1977 IN THE PRINCIPAL
AMOUNT OF $15, 000,000.
WHEREAS, the City of Little Rock, Arkansas (the "City")
duly advertised by publication in The Bond Buyer, the Arkansas
Democrat, and otherwise, and now has under consideration the
sale of $15, 000 ,000 City of Little Rock, Arkansas General
Obligation Improvement Bonds dated February 1, 1977 (the
"Bonds" ) ; and
WHEREAS the following bids were received:
Net Interest Average
Cost Interest Rate
Weeden & Co. , Inc. $ 10,613,532.75 4.97389
Merrill Lynch, Pierce, Fenner & Smith, Inc. 9,951,435.60 4.6636
Citibank, N. A. and Associates 10,901,300.00 5.1087
The Chase Manhattan Bank, N. A. , and
Associates 10,424,311.25 4.8852
Bank of America N. T. & S. A. 10,849,726.05 5.0845
The First National Bank of Chicago
and Associates 10,524,550.41 4.932188
Continental Illinois National Bank and
Trust Company of Chicago 10,377,673.00 4.863356
Stephens Inc. 9,866,286.25 4.623702
WHEREAS, the City has received and considered the said bids;
NOW, THEREFORE, BE IT RESOLVED BY the Board of Directors of the City of
Little Rock, Arkansas:
SECTION 1. That the bid of Stephens, Inc. , for the 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 Bonds.
SECTION 2. This Resolution shall be in full force and effect from and after
its adoption.
ADOPTED: July 27, 1977
ATTEST: 4,C4tv APPROVED: ~�
City Clerk Mayor