HomeMy WebLinkAboutOrdinances Book 17, Page 1196, No Resolution Number1196
Y
A RESOLUTION LISTING THE PURCHASE BIDS RECEIVED FOR $685,000 "CITY OF
PADUCAH WATER WORKS REVENUE BONDS, SERIES OF 1972", ACCEPTING THE BEST BID,
AND ESTABLISHING THE INTEREST COUPON RATES WHICH SHALL BE APPLICABLE THERETC
THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY, DOES HEREE
RESOLVE, AS FOLLOWS:
SECTION 1. It is hereby determined and declared that pursuant to
solicitation by public advertisement as required by ERS Chapter 424, sealed
bids were received in the office of the City Clerk prior to 7:30 P.M., CDST,
on October 24, 1972, for the purchase of $685,000 "City of Paducah Water
Works Revenue Bonds, Series of 1972," dated October 1, 1972, as authori
zed by an Ordinance adopted on October 10, 1972, the same being identified a
follows:
NAME OF BIDDER
Bache & Co. Inc.
J. J. B. Hilliard - W. L.
Lyone, Co.
Springate & Co.
Security & Bond Co.
Seasongood & Mayer
Stifel, Nicolaus & Co. Inc.
W. D. Grodison Co.
A. S. Hart & Co. Inc
PRICE OFFERED
(Exclusive of Accrued
Interest)
$674,275.00
INTEREST
COUPON RATE
OR RATES
4.00 1973 to 1979
4.25 1980 to 1983
4.60 1984 to 1987
5.00 1988 to 1992
4.30 1973 to 1982
4.40 1983
4.50 1984
4.60 1985
4.70 1986
4.80 1987
4.90 1988
5.00 1989 to 1992
4.25 1973 to 1978
4.40 1979 to 1980
4.50 1981 to 1982
4.75 1983
4.90 1984
5.00 1985 to 1987
5.10 1988 to 1989
5-1/8 1990 to 1992
5.00 1973 to 1976
4.40 1977 to 1980
5.00 1981 to 1986
5.10 1987
5.25 1988 to 1990
5.20 1991 to 1992
4.50 1973 to 1982
4.60 1983
4.70 1984
4.80 1985
4.90 1986
5.00 1987
5.10 1988
5.20 1989 to 1992
5.75 1973 to 1975
4.75 1976 to 1982
4.80 1983
5.00 1984 to 1985
5.25 1986 to 1987
5.50 1988
5.90 1990
5.75 1991 - 1992
1197
SECTION 2. It is hereby determined and declared that the best of such
bids was and is the bid of Bache & Co. Inc. & Associates, offering $674,275
(together with accrued interest to delivery) upon condition that said bonds
be caused to bear interest, as follows:
All bonds maturing on July Lin the years
1973 to 1979, inclusive 4.00%
All bonds maturing on July 1 in the years
1980 to 1983, inclusive, 4.25%
All bonds maturing on July 1 in the years
1984 to 1987, inclusive, 4.60%
All bonds maturing on July 1 in the years
1988 to 1992, inclusive, 5.00%
Said bid is hereby found to be in accordance with the terms and conditions)
of the offering and satisfactory as to price and coupon rates, and is accepted
in the name and on behalf of the City of Paducah, Kentucky' and said bid,
together with this Resolution of 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 bid shall be hel
by the City Treasurer, and disposition thereof shall be made as set forth in
the "Statement of Terms and Conditions of Bond Sale."
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 October, 1972.
(SEAL) �C%�c c.E Z/ �z/ c
Mayor
AT,'EST: City of Paducah, Kentucky
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 October 24, 1972.
WITNESS my hand and the seal of said City, this 25 day of October, 1972.
(SEAL) City Clerk