HomeMy WebLinkAboutOrdinances Book 15, Page 227, No Resolution Number227 �
A RESOLUTION PROVIDING FOR THE SALE AND AWARD OF $1,350,000.00
"PADUCAH JUNIOR COLLEGE CONSOLIDATED EDUCATIONAL BUILDINGS REVENUE
BONDS SERIES A", DATED NOVEMBER 1, 1963, AND APPROVING AND AUTHORIZING
SUCH SALE AND AWARD
WHEREAS notice of sale of $1,3502000.00 Paducah Junior College
Consolidated Educational Buildings Revenue Bonds Series A, has here-
tofore been given, thus enabling everyone interested in said bonds to
present a proposal in connection therewith, and
'JHEREAS all bids have been received and duly considered, the
substance of the best bid being the sum of $1,323,000.00 plus accrued
interest from November 1, 1963 for bonds bearine interest as follows:
3-3/4,',' for bonds maturing in the years 1965 through 1968, inclusive;
332% for bonds maturing in the years 1970 through 1973, inclusive;
3-3A% for bonds maturing in the years 1971: through 1976, inclusive,
and 4% for bonds maturing in the years 1977 through 1989, inclusive.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF CODUTIMSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That upon being advised in the premises, it is
hereby determined that the bid of J. J. B. Hilliard & Son and others
for the purchase of $1,350,000.00 of Paducah Junior College Consolidated
Educational Buildings Revenue Bonds Series A, dated November 1, 1963,
as advertised and as prescribed by ordinance adopted in connection
therewith by the Board of Commissioners of said City on November 12,
1963, with the bonds bearing interest at the respective rates as follows:
YEAR AMOUNT RATE YEAR AMOUNT RATE
1965 $32,000 3-3W,
1966 34,000 3-3A% 197 $54,000 4°"'
1967 35,000 19799 56,000
1968 3-3/4% 19$0 58,000 1
,0
1969 37,000 3-3/40 1981 61,000 L%
1970 39,000 000 3-1/20 1982 63,000 4%
3-1/2% 1983 66,000 40
1971 41,000 3-1/2% 1984 68,000 L•.%
1972 43,000 3-1/2% 1985 71,000 4%
1973 44,000 3-1/2% 1986 742000 4%
1974 1:6,000 3-3/4% 1987 77,000 4,
1975 48,000 3-3/4% 1988 80,000 4;;
1976 52, 000 000 4x3/4% 1989 83,000 %
1977 4�'
upon terms of $1,323,000.00 plus accrued interest from November 1, 1963
is the highest and best bid received, and that the sale of said bonds
be, and the same is hereby, awarded to J. J. B. Hilliard & Son and
others as being the best terms for the interest of the City, and
such bonds when issued shall bear interest at the respective coupon
rates set out above.
SECTION 2. That the form of proposal for the purchase of said
bonds by the said J. J. B. Hilliard & Son and others be, and the same
is hereby, approved, and the Mayor and City Clerk are hereby authorized
228
to execute the form of acceptance thereof for and on behalf of the
City of Paducah, Kentucky, and to affix thereto the corporate seal of
said City.
SECTION 3. That all resolutions or parts thereof in so far
as the 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 as provided by law.
� � • �G"Leis �
Mayor �
Passed by the Board of Commissioners December 3, 1963
Recorded by Sarah Thurman, City Clerk, December 3, 1963.