HomeMy WebLinkAbout7262RESOLUTION NO. 7,262
A RESOLUTION APPROVING THE SALE OF $6,500,000 CITY OF
LITTLE ROCK, ARKANSAS SEWER REVENUE BONDS, SERIES
1984, AUTHORIZED BY ORDINANCE NO. 14,738; AND
PRESCRIBING OTHER MATTERS RELATING THERETO.
WHEREAS, by Ordinance No. 14,738 of the Ordinances of the
City of Little Rock, Arkansas (the "City "), passed and approved
on the 12th day of September, 1984 (the "Authorizing
Ordinance "), there were authorized and ordered sold Sewer
Revenue Bonds, Series 1984, in the total principal amount of
$6,500,000 (the "Bonds "), with the Bonds to be dated October 1,
1984, with interest payable seminannually on April 1 and
October 1 of each year, commencing April 1, 1985, and with the
Bonds to mature (or be subject to mandatory sinking fund
redemption) on October 1 in each of the years 1985 to 2004,
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 at 11:00 a.m. on September 26,
1984 the following bids were received:
Net Interest Effective
Bidders Cost Interest Rate
Prudential -Bache Securities Inc.
Shearson /American Express Inc.
Lehman Brothers Kuhn Loeb
Incorporated
Clayton Brown & Associates, Inc.
Oppenheimer & Co., Inc.
Stifel Nicolaus & Company, Incorporated
Hutchinson, Shockey, Erley & Co. $8,454,252.50 9.76072%
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T. J. Raney & Sons, Inc.
Dean Witter Reynolds Inc.
Hill, Crawford & Lanford, Inc.
Thomson McKinnon Securities, Inc.
George K. Baum & Company
B. J. Compton & Sons, Inc.
Edward D. Jones & Co.
Harrow Smith Company
Bryan Worley $8,466,740.00 9.775142%
John Nuveen & Co. Incorporated
Crews & Associates, Inc.
UMIC, Inc. $8,516,740.00 9.8328%
Merrill Lynch Capital Markets
Rauscher Pierce Refsnes, Inc.
Powell & Satterfield, Inc.
E. F. Hutton & Company Inc. $8,574,176.10 9.8991%
Salomon Brothers Inc. $8,609,445.90 9.9399%
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of
the City of Little Rock, Arkansas:
Section 1. That the bid of Prudential -Bache Securities. Inc.
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 3. This Resolution shall be in full force and
effect from and after its adoption.
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ADOPTED: September 26, 1984.
APPROVED:
ATTEST:
City Cl-9-1 ,lane Czech
[S E A L]
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�MKyor J. W. Benafield
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