HomeMy WebLinkAbout3104 RESOLUTION NO. 3,104
A RESOLUTION AWARDING TO PURCHASERS THE CITY OF LITTLE ROCK,
ARKANSAS WATER REVENUE BONDS OF 1964, SERIES B, IN THE
PRINCIPAL AMOUNT OF $9,797 ,000, DATED FEBRUARY 1, 1964.
WHEREAS the City of Little Rock, Arkansas (called "City")
duly advertised by publication in the Bond Buyer, the Arkansas Gazette,
the Arkansas Democrat, and otherwise, and now has under consideration
the sale of $9, 797,000 Water Revenue Bonds of 1964, Series B, dated
February 1, 1964 (called "Series B Bonds") ;
WHEREAS the following offers were received:
The First Boston Corporation, Aggregate amount of interest upon
white, weld & Company, and all the Bonds from February 1, 1964
Womeldorff & Lindsey & Associates: until their respective maturities
$4,795,197.00, less Premium of
$300.00, at a Net Interest Cost to
the City of $4,794,897.00 and average
annual interest cost of 3.27019 per
cent.
Equitable Securities Corporation Aggregate amount of interest upon all
and Associates: of the Bonds from February 1, 1964
until their respective maturities
$4,798,850.00, less Premium of $628.88,
at a Net Interest Cost of $4, 798,221.12,
and average annual interest cost of
3.272466 per cent.
Halsey, Stuart & Company, Inc. & Aggregate amount of interest upon all
Associates, Raney Securities, of the Bonds from February 1, 1964
Stephens , Inc. , and Uabbs Sullivan until their respective maturities
Company, Inc. : $4,794,117.00, less Premium of
$1,077.67 , at a Net Interest Cost of
$4,793,039.33, and average annual
interest cost of 3.26893 per cent.
F. S. Smithers & Company and Gross Interest Cost of $4,826,936.50,
Associates: with no Premium, at a Net Interest
Cost of $4,826,936.50, with effective
interest rate of 3.29205.
Kidder, Peabody & Company Aggregate amount of interest upon all
and Associates : of the Bonds from February 1, 1964
until their respective maturities
$4,828,294.00, less Premium of
$4,902.00, at a Net Interest Cost of
$4,823,392.00 and average annual
interest cost of 3.2896 per cent.
WHEREAS the City has received and considered the said offers;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, AR ANSAS :
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SECTION 1. That the offer of Halsey, Stuart & Company, Inc. &
Associates, Raney Securities , Stephens , Inc. , and Dabbs Sullivan
Company, Inc. for the Series B Bonds, as set forth above, is hereby
found and declared to be the best bid and said bid be, and the same
is hereby, accepted, subject to the terms and conditions of the
official Notice of Sale of the Series B Bonds.
SECTION 2. That the Mayor, City Clerk and City Manager be, and
they are hereby, authorized and directed to proceed in accordance
with the provisions of Ordinance No. 11,450 of the Ordinances of the
City with the end in view of a delivery of the Bonds on February 1,
1964.
ADOPTED: January 7 , 1964
ATTEST: APPROVED:4
City Clerk Mayor
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