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RESOLUTION 440. 2145
A RESOLUTION AWARDING *9 ,585,000 WATER
REVENUE BONDS (SERIES 1956) OF THE CITY
OF LITTLE ROCK, ARKANSAS, AND DIRECTING
THE AUTHENTICATION AND D-: LIVE Y OF SAID
BONDS
WHEREAS, the Waterworks Commission of The City of Little
Rock (created by an ordinance adopted by the City Council under the
provisions of Act 215 of the Acts of the General Assembly of 1937 ,
and known as the "Board of Coinuuissioners of the Little Rock Munici-
pal rater Works) duly advertised for sealed bids to be received
until 1:00 otclock P.M. , April 29, 1957 , for $9,585,000 Water Revenue
Bonds (Series 1956) of The City of Little Rock, Arkansas, dated
August 1, 1956, to be issued under the provisions of Ordinance No.
10,364, as amended by Ordinance -_'o. 10, 366, and section 208 of the
Trust Indenture authorized by said Ordinance ego. 10, 364, and sealed
bids were duly received pursuant to said advertisements; and
WHEREAS, the bid offering to purchase said bonds at the low-
est interest cost to the City, such cost being determined by deducting
the amount of any premium bid from the aggregate amount of interest
upon all of the bonds from February 1, 1957 , until their respective
maturities, was the bid of First of Boston Corporation, Equitable
Securities Corporation, White Veld & Co. and Associates, offering
$9 ,585 ,000 and accrued interest for said bonds bearing interest at
the rates set forth in this Resolution, and said bid was accepted
by the Waterworks Commission subject to confirmation by the City
Council; now, therefore,
BE IT RESOLVED by the City Council of The City of Little Rock,
Arkansas:
Section 1. The $9,585 ,000 Water Revenue Bonds (Series 1956)
of The City of Little Rock, Arkansas, dated August 1, 1956, men-
tioned in the preambles of this 'resolution are hereby awarded to
First of Boston Corporation, quitable Securities Corporation, White
geld & Co. and Associates at the priced $9,585 ,000 and accrued
interest from February 1, 1957 , for said bonds bearing interest at
the followin`. rates :
Year of Principal Interest Year of Principal Interest
Maturity Amount 'ate Maturity Amount Late
1960 $ 97 ,000 1.75 % 1975 $135,000 4.25 %
1961 98,000 1.75 % 1976 143,000 4.25 7°
1962 101,000 1.75 % 1977 458,000 4.25 %
1963 102,003 1.75 % 1978 545,03J 4.25
1964 104,000 1.75 % 1979 564,000 4.25 %
1965 106,000 1.75 % 1930 534,000 4.20 %
1966 107 ,000 2.00 % 1981 604,000 4.20 %
1967 109 ,000 2.00 % 1982 626,000 4.20
1968 111,000 2.00 % 1983 643,000 4.20 %
1969 114,000 4.25 % 1984 670,000 4.20 %
1970 118,000 4.25 70 1985 694,000 4.20 %
1971 123,000 4.25 % 1936 718,000 4.20 70
1972 127 ,000 4.25 % 1987 743,000 4.20 70
1973 132,00u 4.25 % 1988 769,000 4.20 %
1974 135 ,000 4.25 %
Section 2. Said bonds, upon their execution in the form
and manner provided by said Trust Indenture, shall be deposited with
The Chase Manhattan Bank, as Trustee under said Trust Indenture, for
authentication and said Trustee is hereby authorized and directed to
authenticate and deliver said bonds to or upon the order of said
First of Boston Corporation, Equitable Securities Corporation, Vhite
Veld & Co. and Associates upon payment of the purchase price set forth
in Section 1 above.
-2-
Section 3. That the officials and agents of The City of
Little :lock and the officers and agents of said Trustee are hereby
authorized and directed to take all steps necessary to carry into
effect the provisions of this Resolution.
Section 4. That this Resolution shall take effect from
and after its passage.
Adopted: _l April 29
APPROVED:
ATT ST: _gdjeeee'j
Mayor
City Clerk