HomeMy WebLinkAbout4048 RESOLUTION NO. 4,048
A RESOLUTION AWARDING TO PURCHASERS THE CITY
OF LITTLE ROCK, ARKANSAS GENERAL OBLIGATION
AIRPORT IMPROVEMENT BONDS , DATED FEBRUARY 1 ,
1968, IN THE PRINCIPAL AMOUNT OF $3,000,000,
WHEREAS , the City of Little Rock, Arkansas ("City") duly advertised
by publication in The Bond Buyer and The Arkansas Democrat, and now has under
consideration the sale of $3,000,000 City of Little Rock, Arkansas General
Obligation Airport Improvement Bonds, dated February 1 , 1968 (called "Airport
Bonds"); and
WHEREAS, the following bids were received:
For $3,000,000.00 City of Little Rock General Obligation Airport Improve-
ment Bonds:
Halsey, Stuart & Co., Inc.; Sullivan, Trulock & Dillingham, Inc. and
Associates : Aggregate amount of interest upon all of the Bonds from
August 1 , 1968, until their respective maturities $2,074,226.25, Less
Premium of $300.00, with Net Interest Cost of $2,073,926.25, and Average
Annual Interest Cost of 4.11411%.
First National Bank of Memphis and Associates; T. J. Raney & Sons, Little
Rock; Stephens, Inc., Little Rock; Equitable Securities , Morton & Co., Inc.,
Nashville, Tennessee; Mercantile National Bank at Dallas; Mercantile Trust
Co. , NA, St. Louis, Missouri ; and Hill , Crawford and Lanford, Inc., Little
Rock : Aggregate amount of interest upon all of the Bonds from August 1 ,
1968, until their respective maturities $2,047,250000, No Premium; with
Average Annual Interest Cost of 400611981 .
WHEREAS, the City has received and considered the bids;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
City of Little Rock, Arkansas:
Section 1 . That the bid of First National Bank of Memphis and
Associates for the Airport Bonds is hereby found and declared to be the best
bid and the bid is hereby accepted, subject to the terms and conditions of the
Notice of Sale of the Airport Bonds ,
ADOPTED: August 13, 1968
ATTEST: APPROVED, / /
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City Clerk Mayor