HomeMy WebLinkAbout3423 RESOLUTION NO. 3,423
A RESOLUTION AWARDING TO PURCHASERS THE CITY OF
LITTLE ROCK, ARKANSAS GENERAL OBLIGATION REFUND-
ING AND CAPITAL IMPROVEMENTS BONDS DATED AUGUST 1,
1965 IN THE PRINCIPAL AMOUNT OF $8,000,000.
WHEREAS the City of Little Rock, Arkansas (called
"City") duly advertised by publication in The Bond Buyer, the
Arkansas Democrat, and otherwise, and now has under consideration
the sale of $8,000,000 City of Little Rock, Arkansas General
Obligation Refunding and Capital Improvement Bonds dated August 1,
1965 (called "Bonds") ; and
WHEREAS the following bids were received:
Trulock, Satterfield & Powell, Inc. Aggregate amount of interest upon
and Associates, all bonds from August 1, 1965
until their respective maturities
$4, 275, 735.00, Less Premium of
$2,960.00; at Net Interest Cost of
$4, 272,775.00 - Average Annual
Interest Cost 3 .587552 per cent;
Merrill Lynch, Pierce, Fenner & Aggregate amount of interest upon
Smith, Incorporated, all bonds from August 1, 1965 until
their respective maturities
$4,201, 290 .00, Less Premium of
$3,359.99 ; at Net Interest Cost of
$4,197,930.01 - Average Annual
Interest Cost 3.5247 per cent;
Dabbs Sullivan Company, Inc. , Aggregate amount of interest upon
Halsey, Stuart & Company, Inc. , all bonds from August 1, 1965
E. L. Villareal & Company, Inc. until their respective maturities
and Associates, $3, 896,970.00, Less Premium of
$2,960.00; at Net Interest Cost of
$3, 894,010.00 - Average Annual
Interest Cost 3.26952 per cent;
Stephens, Inc. , T. J . Raney & Sons, Aggregate Amount of interest upon
and Associates, all bonds from August 1, 1965 until
their respective maturities
$3,946,680 .00, with no Premium, at
Average Annual Interest Cost
3.313753148 per cent;
Hill, Crawford & Lanford, Inc. , At a Net Interest Cost of
and Associates, $3,914,930.00, with Average
Annual Interest Cost 3.287094
per cent.
Page 2
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 Dabbs Sullivan Company, Inc. ,
Halsey, Stuart & Company, Inc. , E . L. Villareal & Company, Inc.
and Associates,
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 .
ADOPTED: October 14 1965.
APPROVED:
1111■_ A /
May
ATTEST:
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City Clerk