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RESOLUTION NO. 4,541
WHEREAS, the City of Little Rock, Arkansas (the "City") duly
advertised by publication in The Bond Buyer and the Arkansas Gazette
and now has under consideration the sale of $2 ,000 ,000 City of Little Rock,
Arkansas Parking Facilities Revenue Bonds, Series A, dated April 1 , 1971
(the "bonds"); and
WHEREAS, the following bids were received: Merrill Lynch, Pierce,
Fenner & Smith, Inc. , Little Rock, Ark. ; Matthews, Russell & Co. , Inc. , Little Rock,
Ark.; W. E. Hutton & Co. , New York; A. S. Hart & Co. , Inc. , Memphis; Underwood,
Neuhaus & Co. , Inc. , Houston; Kirschner, Moore and Company, Denver, Joint Managers:
$2,242,880.50, Average Interest Cost 6.5478%.
United Municipal Investment Corp. , Inc. : $2,181,036.75, Average
Interest Cost 6.3672%.
Stephens, Inc. & Associates: $2,116,453.75, Average Interest
Cost 6.1787%.
Stifel, Nicolaus & Company, Inc. , Tulsa, Okla. ; Smith, Barney & Co. , Inc. ,
New York, New York: Net Interest Cost $2,483,351.00, Average Interest Cost 7.249%.
and
WHEREAS, the City has received and considered the bids, and it
appears that _ Stephens, Incorporated & Associates«
has the low bid, and the Little Rock Municipal Parking Authority and the City
Advertising and Promotion Commission, by Resolution presented to the Board
of Directors of the City, have recommended its acceptance;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
City of Little Rock, Arkansas:
Section_l. That the bid of Stephens, Incorporated & Associates
for the 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 bonds .
ADOPTED this 31st, day of. March 1971 .
4/ ://a24.,___
.Mr(L% .i A ,/ 1 /
Mayor
ATT ,
if
City CI rk
(SEAT)