HomeMy WebLinkAboutOrdinances Book 15, Page 520, No Resolution Number520 /
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A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE CITY OF
i
PADUCAH, KENTUCKY, ACCEPTING THE SUCCESSFUL BID ON $590,000 OF CITY
OF PADUCAH SCHOOL BUILDING REVENUE BONDS, DATED APRIL 1, 1965
WHEREAS, notice of sale of $590,000 of City of Paducah (Kentucky)
School Building Revenue
Bonds, dated April 1, 1965
has heretofore been
Fiven in compliance with
law by publication in the
Sun -Democrat,
the newspaper having the
lar Fest circulation in the
City of Paducah,
Kentucky, in the Courier
-Journal, published in Louisville,
Kentucky,
and of general circulation throughout Kentucky and
in The Bond Buyer,
New York, New York, which publications are hereby authorized,
ratified
and approved, and .
WHEREAS, all bids
received for said bonds have
been duly
considered and are as follows:
Amount for the $590,000
Principal Amount of Bonds
Interest
Plus Accrued Interest Fro
Bidder
Rate (s)
April 1, 1965
Louisville Bond & Share
- 1966-1968
Hayden, Stone & Company
3 1969-1970
Weil, Roth &Irving
3.10% 1971-1974
Robert L. Conners
3.20% 1975-1976
$590,000.00
Almtedt Brothers
1?-% 1966
Mapnus & Company
3' 1967
Pohl & Company, Inc.
3'4" 196f? -19.'6
590,000.00
First U. S.. Corporation
s% 1966-196$
3% 1969-187L
3-118% 1975-1976
590,000.00
J. J. B. Hilliard &. Son
1,% 1966
.Blythe &. Company, Inc3'%
196.-1969
34, 1970
3.10% 1971-1973
31% 1976-1976
590,000.00
Stein Bros & Boyce, Inc
1;% 1966-1968
34% 1969
3% 1970-1976
590,000.00
Gram -Conway Company
3,% 1966-1968Prescott
& Company
3% 1969-1971
Fox, Reusch & Company
34% 1972-1976
590,107.70
The Kentucky Company
W. L. Lyons &. Company
1,}% 1966-1967
W. E.Hutton &•Company
3.30% 1968-1976 590,000.00
Hender,son-Few Fr Company
Merrill Lynch Fierce,
34% 1966-1969
Fenner & Smith
3-118% 1970-1971
The Cherbkee Securities
34% 1972-1976 590,060.00
Stifel, Nicholaus & Co
WHEREAS, the matter of which bid is most advantageous to the
City of Paducah, Kentucky, has been sufficiently considered,
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COIJ24TSSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
521 -
SECTION 1. That the bid of Stein Bros, & Boyce, Inc. and Equitable
Securities for the sale of said $,590,000 of City of Paducah School Building
Revenue Bonds, dated April 1, 1965, be accepted and confirmed, the said bid
beinr, at the price of 13590,000.00 for 41590,000 principal amount of bonds,
plus accrued interest from April 1, 1965, to bear interest at the rate (s)
of 14% 1966-1968; 340% 1969 and 3% 1970-1976 and the said bid being hereby
determined to he the highest and best bid to the City and the Board of
Education of the Paducah Independent School District for said bonds, and
the interest rate (s) on said bonds is (are) hereby fixed at the rate (s)
as set out in said successful bid.
SECTION 2. That said bonds numbered 1 through 590 shall be
delivered by theCity Treasurer and/or other city officials to said
purchaser as soon as ready, in accordance with the ordinance authorizing
such bonds, and the proceeds of all of said bonds, shall be used only as
provided in said ordinance.
SECTION 3. That the confirmation of this bid subjects the City
to no liability if for any reason it is unable to obtain the final
approving legal opinion of Skaggs and Hays, Attorneys, Louisville,
Kentucky, or if said bonds or the interest thereon should be sutiect
to ad valorem or income taxation by the Federal Government, Kentucky, or
any political subdivision of Kentucky prior to the delivery of said
bonds, but the purchaser shall not be required to accept delivery of
said bonds without the final approving opinion of said attorneys
accompanying said bonds or if such bonds or the interest thereon should
become so subject to taxation.
SECTION h. That all motions, resolutions or ordinances or parts
thereof in conflict herewith be and the same are hereby repealed to the
extent of such conflict.
D9ayor
Attest:
City Clerk
Passed by the Board of Commissioners March 23, 1965
Recorded by Sarah Thurman, City Clerk, March 23, 1965.