HomeMy WebLinkAboutOrdinances Book 15, Page 740, No Resolution Number740
A RESOLUTION LISTING THE PURCHASE BIDS RECEIVED FOR $600,000 "CITY
OF PADUCAH SEWER SYSTEM REVENUE BONDS OF 1965"; ACCEPTING THE BEST BID;
AND ESTABLISHING THE INTEREST COUPON RATES WHICH SHALL BE APPLICABLE
THERETO
THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY,
DOES HEREBY RESOLVE, AS FOLLOWS:
SECTION 1. It is hereby determined and declared that
pursuant to solicitation by public advertisement as required by KRS
Chapter 424, sealed bids were received in the office of the City Clerk
prior to 7:30 P.M., CDST, on August 24.., 1965, for the purchase of
$600,000 "City of Paducah Sewer System Revenue Bonds of 1965," dated
August 1,,1965, as authorized by an Ordinance adopted on July 20,
1965, the same being identified as follows:
INTEREST
COUPON RATE
NAME OF BIDDER PRICE OFFERED OR RATES
(Exclusive of Accrued
Interest)
Pohl & Company & $600,006.60
41%
1967-1971
Associates
3.%
19'i2-19$0
3.70%
1951-1986
Steifel, Nicolaus & Company
and Associated $600,000.00
h%
1967-1971
3.75%
1972-1974
3-7/5%
1975-1951
4%
1952-1956
Almstedt Brothers $600,O11.h0
h.%
1967-1971
& Associates
3.600%
1972-1953
3.70%
1954-1956
First U. S. Corporation $600,000.00
52%
1967-1969
3.75°%0
1970-1952
4%
1953-1956
Equitable Securities Corp $600,012.00
4%
1967-1969
Stein Bros. & Boyce, Inc.
The Kentucky Company
3.60%
3.50%
1970-1975
1979-1951
3.60%
1952-1956
SECTION 2. It is hereby determined and declared that
the
best of,such bids wasa.and is the bid of Equitable
Securities
Corp.; Stein
Bros. & Boyce, Inc. & The Kentucky Company, offering $600,012.00
(together
with accrued interest to delivery) upon condition
that said bonds
be
caused to bear interest, as follows:
All bonds maturing on January 1 in the years
1967 to 1969, inclusive,
4%
All bonds maturing on January 1 in the years
1970 to 1975, inclusive, 3.60%
All bonds maturing on January 1 in the years
1979 to 1951, inclusive, 3,50%
All bonds maturing on January 1 in the years
1952 to 1956, inclusive, 3.60%
Said bid is hereby found to be satisfactory as to price and
coupon rates, and is accepted in the name and on behalf of the City of
Paducah, Kentucky; and said hid, together with this Resolution of
741
acceptance shall constitute a firm contract .for the purchase and sale
of said bonds.
SECTION 3. Said bonds shall bear interest at the respective
coupon rates set forth in Section 2 hereof.
SECTION 4. The good faith check attached to the accepted
hid shall be held by the City Treasurer, and disposition thereof
shall be made as set forth in the "Statement of Terms and Conditions
of BondSale."
SECTION 5. This Resolution shall be in full force and
effect upon adoption.
ADOPTED at a meeting of the Board of Commissioners held on
the 24th day of August, 1965.
(SEAL) Cimayor
City of Paducah, Kentucky
ATT ST:
lI
City Clerk
CERTIFICATION
I, Sarah Thurman, City Clerk of the City of Paducah, Kentucky,
hereby certify that the foregoing is a true copy of a Resolution
adopted by the Board of Commissioners of said City at a meeting held
on August 24, 1965.
WITNESS my hand and the seal of said City this, 24th day of
August, 1965.
. ^_�i-hi=s �• �i ' � �[.�ii.� •.c�ec.c/
City Clerk
(SEAL)