6554 RESOLUTION N0. 6 ,554
A RESOLUTION APPROVING THE SALE OF
$6 , 500 , 000 CITY OF LITTLE ROCK, ARKANSAS
SEWER REVENUE BONDS , SERIES 1981 ,
AUTHORIZED BY ORDINANCE NO. 13 ,983 ; AND
PRESCRIBING OTHER MATTERS RELATING THERETO.
WHEREAS , by Ordinance No . 13 ,983 of the Ordinances of the
City of Little Rock, Arkansas (the "City") , passed and approved
on the 17th day of February , 1981 ( the " Authorizing
Ordinance " ) , there were authorized and ordered sold Sewer
Revenue Bonds , Series 1981 , in the total principal amount of
$6 ,500 , 000 ( the "Bonds " ) , with the Bonds to be dated May 1 ,
1981 , with interest payable semiannually on May 1 and November
1 of each year, commencing November 1 , 1981 , and with the Bonds
to mature on May 1 in each of the years 1982 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 Apri115 , 1981 the
following bids were received:
.
JP
Net Interest Effective
Bidders Cost Interest Rate
Merrill Lynch White Weld
Capital Market Group,
et al $6 , 327 ,262 . 50 9 . 9477%
John Nuveen & Co. , Inc. 6 , 342 , 625 . 00 9 . 971897%
7 I
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas :
Section 1 . That the bid of Merrill Lynch White Weld Capital Market
Group, et al, 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 supplemented by
this Resolution, shall continue in full force and effect.
Section . . This Resolution shall be in full force and
effect from and after its adoption.
4
ADOPTED: April 15 , 1981 .
APPROVED:
C &_4(!
Mayor
ATTEST:
1
r
City Cler
(SEAL)