HomeMy WebLinkAboutOrdinances Book 15, Page 218, No Resolution Numberzl$
RESOLUTION PROVIDING FOR THE SALE AND AWARD OF $125,000.00 SCHOOL
BUILDING REVENUE BONDS, SERIES 19633 AND APPROVING AND AUTHORIZING THE
AGREEMENT OF SUCH SALE AND AWARD.
WHEREAS notice of sale of $125,000 School Building Revenue Bonds,
Series 1963, of the Citv of Paducah, Kentucky, has heretofore been given
in strict compliance with law and 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 beinP $125,02$.00 and accrued interest for bonds
bearing interest as follows: 3% 1964-1969; 2.80% 1970; 2.90% 1971; 3% 1972;
3.10% 1973; 3.20% 1974: 3.25% 1975; 3.30% 1976;
NOW, THEREFORE, the Board of Commissioners of the City of Paducah,
Kentucky, does resolve as follows:
Section 1. That upon being advised in the premises it is hereby
determined that the bid of Stein Bros. & Boyce for the purchase of $125,000
School Building Revenue Bonds, Series 1963, as advertised and as prescribed
by the ordinance heretofore adopted November 12, 1963, with the bonds bearing
interest at the respective rates, as follows:
Maturities
Interest Rate
Per Annum
1964-1969 Inclusive
3 %
1970
1971
2.801%
1972
2.90%
1973
3.00%
3.10%
1974
1975
3'2�
1976
3.25%
3.30%
upon terms of $125,02$.00 and accrued interest is the best bid received, and
that said bonds be and the same are hereby awarded to said Stein Bros. & Boyc ,
as being the best terms for the interests of the City.
SECTION 2. That said School Building Revenue Bonds, Series 1963, when
issued shall bear interest at the respective rates hereinbefore provided.
SECTION . That the form of proposal for the purchase of said bonds be
and the same is hereby approved, and the Mayor and City Clerk are hereby
authorized to execute the form of acceptance thereof for and on behalf of the
City of Paducah, Kentucky, and to affix the corporate seal of said City thereto.
SECTION 4. That all resolutions, or parts thereof, in so far as same
may be in conflict herewith, be and the same are hereby repealed, and this
resolution shall become effective forthwith upon its adoption and approval.
Adopted and approved November 26, 1963
C. Winston Gholson
Mayor Pro Tem & Commissioner
orns
Attest:
City Clerk
Re/corded:/ November 26, 1963
City Clerk
219