HomeMy WebLinkAbout4049 RESOLUTION NO. 4,049
A RESOLUTION AWARDING TO PURCHASERS THE CITY
OF LITTLE ROCK, ARKANSAS GENERAL OBLIGATION (PORT
DEVELOPMENT) BONDS, SERIES 1968, DATED JULY 1 ,
1964, IN THE PRINCIPAL AMOUNT OF $1 ,095,000.
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 $1 ,095,000 of City of Little Rock, Arkansas General
Obligation (Port Development) Bonds, Series 1968, dated July 1 , 1964 (called
"Port Development Bonds"); and
WHEREAS , the following bids were received:
For $1 ,095,000.00 City of Little Rock General Obligation Port Development
Bonds:
Powell & Satterfield, Inc.,; W. H. Satterfield & Co., Inc.; Simmons First
National Bank of Pine Bluf : Aggregate amount of interest upon all of the
Bonds from July 1 , 1968, until their respective maturities $740,065.00, No
Premium, with Average Annual Interest Cost of 4.4552706%.
First National Bank of Memphis & 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 July 1 , 1968,
until their respective maturities $672,950.00, No Premium, with Average
Annual Interest Cost of 4.0512%.
WHEREAS, the City has received and considered the bids;
NOW, THEREFORE, BE IT RESOLVED by the Board of Di '°ectors of the
City of Little Rock, Arkansas :
Section 1 . That the bid of First National Bank of Memphis and
Associates for the Port Development Bonds is hereby found and declared to be
the best bid and the bid is hereby accepted, subject to the terms and con-
ditions of the Notice of Sale of the Port Development Bonds.
ADOPTED: August 13, 1968
ATTEST: APPROVED: I
if
City Clerk Mayor