HomeMy WebLinkAboutOrdinances Book 16, Page 51, No Resolution Number51�
A RESOLUTION LISTING THE PURCHASE BIDS RECEIVED FOR $2,500,000
"CITY OF PADUCAH VOTED SEWER BONDS"; ACCEPTING THE BEST BID; AND
ESTABLISHING THE INTEREST COUPON RATES WHICH SHALL BE APPLICABLE THERETO
THE BOARD OF COMISSIONERS 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 Pdanager prior to
8:00 P.M., CST, on February 7, 1967, for the purchase of $2,500,000
"City of Paducah Voted Sever Bonds," dated i -'ay 1, 1966, as authorized
by an Ordinance finally adopted on April 26, 1966, the same being
identified as follows:
PRICE OFFERED Interest
Coupon Rate of
Name of Bidder {-Exclusive of Accrued
— --- — Interest)
(1) Halsey, Stuart & Co. Inc. 2,500,250.00 6% 1967-1971
3.50% 1972-1975
3.25% 1976-19$0
3.40% 1981-1987
3.50% 1988-1990
(2) Continental Illinois Nat'l 2,500,572.00 5% 1967-1971
Bank and Trust Co. Chicago 3.50% 1972-1976
and Associates 3.3G% 1977-1979
3.50% 1980-1990
(3) Blythe 8c Co. Inc. and 2,500,815.00 5% 1976-1970
Associates 3.75% 1971-1975
3.40% 1976-1983
3.500 1984-1990
(4) Equitable Securities Corp. 2,500,125,00 4% 1967-1969
and Associates 3.75% 1970-1973
3.60% 1974-1978
3.50% 1979-1985
3.60°, 1986-1990
(5) John Nuveen 8- Co. Inc. 2,500,000,00 5.5 1967-1971
3.4G;� 1972-1978
3.5G`' 1979-1984
3,60% 1985-1990
(6) P'.orthern Trust Co. and 2,500,262.00 6% 1967-1977
Associates 3.625% 1978-1989
1/10 of 1% 1990
SECTION 2. It is hereby determined and declared that the best
of such bids was and is the bid of Halsey, Stuart & Co, and Associates
offerin? $2,500,250.00 (together with accrued interest to delivery) upon
condition that said bonds he caused to bear interest, as follows:
All bonds maturini, on November 1 in the years
19F? to 1971, inclusive, 6'
All bonds maturing on November 1 in the ,years
1472 to 1975, inclusive, 3,50;:
All bonds maturin, on November 1 in the years
197( to 19P0, inclusive,
All bonds maturing on November 1 in the years
1991 to 10�"7, inclusive, 3,40,'
All bonds maturing on ho,+eml er 1. ir the years
lqi? to 1490, inclusive, 3.50"
r2
Said hid is herebi, found to be in accordance with the terms
and conditions of the offerinrr and satisfactory as to price and coupon
rates, and is accepted in the name and on behalf of the City of Faducah,
Kentucky; and said hid, 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 Board of Commissioners takes note of the fact
that in the published "Notice of Sale of Bonds" and in the "Statement of
Terms and Conditions of Bond Sale" bidders were notified that the purchase
1-idders would ha,,e the privile,e of nominating an Alternate Paying Agent
conforming to certain prescribed conditions; such nomination to"be made
either in the Bid Form, or upon notice by telephone to Mr. A. J. darner
of the Louisville Office of Stein Bros. P• Boyce, one of the City's Fiscal
Atrents, before 1.:00 F.M., EST on February 9, 1967. It being. noted that
the purchasers did not elect to complete the bid form in this respect,
the Board of Commissioners aprees that if the purchase bidders shall choose
to nominate an Alternate Paying Agent meeting the prescribed qualifications,
and within the time allowed for making such nomination, the Board of
Commissioners will at its next meeting adopt a resolution officially
designating such Alternate Paving Agent. If the purchasers shall give
notice that they do not wish to nominate an Alternate Paying Agent, or
shall fail to make a nomination within the prescribed time, or shall make
a nomination failinc- to conform to the prescribed conditions, then and
in any of said events no Alternate Paying Agent shall be named, and the
printer mar he instructed to make proper omissions from the Pond and
Coupon Forms as otherwise prescribed in the bond -authorizing Ordinance
above referred to.
Section 55 The good faith check attached to the accepted bid
shall be held by theCity Treasurer, and disposition thereof shall be made
as set forth in the "Statement of Terms and Conditions of Bond Sale."
SECTION %.. This Resolution shall be in full force and effect
upon adoption.
ADOPTED at a meetinrr, of the Board of Commissioners held on the
7th day of February, 1967.
(SEAL)
ATTEST:
-
Cit Clerk
P,a"or
City of Paducah, Kentucky
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 February 7, 1967.
No iIITNESS my hand and the seal of said City, this 8th day of
February, 1967.
(SEAL) ----
City Clerk
City of Paducah, Kentucky.
M10
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