HomeMy WebLinkAboutOrdinances Book 12, Page 847, No Resolution Number847
A RESOLUTION PROVIDING FOR THE SALE AND AWARD OF $300,000 MUNICIPAL HOSPITAL
REVENUE BONDS,. SERIES OF 1952, AND APPROVING AND AUTHORIZING THE AGREEMENT OF SUCH
SALE AND AWARD.
WHEREAS notice of sale of $300,000 Municipal Hospital Revenue Bonds, Series of 1952,
of the City of Paducah, Kentucky, has heretofore been given in strict compliance with
the orders of this Board of Commissioners, thus enabling everyone interested in said
bonds to present a proposal in connection therewith; and
WHEREAS all bids have been received and duly considered, the substance of the best
bid being as follows: 102 for 3 3/4,% bonds maturing 1954 thru 1962 and 4% per annum
bonds maturing 1963 thru; 1975 incl.
NOW, THEREFORE, The Board of Commissioners of the City of Paducah, Kentucky, does
resolve and order as follows:
SECTION 1 That upon being advised in the premises, it is hereby determined that
the bid of Stein Bros. & Boyce, Almstedt Bros., Bankers Bond Company for the purchase
of $300,000 Municipal Hospital Revenue Bonds, Series of 1952, as advertised and as
prescribed by the ordinance heretofore finally adopted on July 8, 1952, upon terms of
102 for 3'3/4% bonds maturing 1954 thru 1962 and 4% per annum bonds maturing 1963 thru
1975 incl. for bonds numbered 1 thru 31, 32 thru 40, 44 thru 52, 56 thru 65, 69 thru 78,
82 thru 92, 96 thru 106 inclusive, bearing interest at the coupon rate of 3 3/4% per.annum
and bonds numbered 110 thru 121, 125 thru 136, 140 thru 152, 156 thru 169, 173 thru 186,
190 thru 204, 208 thru 223, 227 thru 242, 246 thru 262, 266 thru 283, 287 thru 303,
309 thru. 328, 332 thru 354, inclusive, at the coupon rate of 4% per annum, is the
highest and best bid received, and that said bonds be and are hereby awarded to Stein Bros.
& Boyce, Aomstedt Bros, Bankers Bond Company as being the best terms for the interests of
said city. The coupon interest rates for the .respective bonds aforesaid is hereby,fixed.
SECTION 2 That the form of proposal for the purchase of said bonds by Stein
Brothers & Boyce, Almstedt.Brothers, be and the same is hereby approved, and the Mayor
and City Clerk are hereby authorized to accept said proposal for and on behalf of the City
of Paducah, Kentucky, and to affix the corporate seal of said city.
SECTION 3 That all resolutions or parts therof in so far as same may be in
conflict herewith be and the same are hereby repealed.
Passed and approved July 8, 1952
ZZ,
Mayor /I
ATTEST:
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City Clerk