HomeMy WebLinkAboutRes 34-73 12/04/1973
RESOLU'I'ION
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A Resolution Accepting a Bid
for Village of Mount Prospect
Corporate Purpose Bonds,
Series of 1973.
WHEREAS, the Village of Mount Prospect, pursuant to
Ordinance 2469, passed and approved by the President and
Board of Trustees on November 6, 1973, is authorized to
lssue non-referendum bonds to evidence indebtedness incurred
for corporate purposes; and
WHEREAS, by its Resolution No. 32-73, passed and
approved on November 6, 1973, the President and Board of
Trustees of the Village of Mount Prospect approved an official
statement and notice of sale with respect to $2,000,000 of
the bonds so authorized and directed a mailing of a prospectus
to prospective bidders and the publication of advertisements
for sealed bids for said bonds to be received by and opened
on December 4, 1973, at 12:00 Noon; and
WHEREAS, sealed bids for the aforesaid $2,000,000 in
corporate purpose bonds for the Village of Mount Prospec"t have
been received from the following bidders at the net interest
cost set after their names:
~Ch-~ \~-\- Co .
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.~-r~~tS~vl4S
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fl~t Mle.-cJ li~o\ ~~O
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'4.~" 88 '7
5',0 , 1 00 2-
S".oz.~1
5'. 0 ~ 0 <f. ? 1-
S.Osqq"LO
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and
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WlillREAS, the President and Board of Trustees of the
Village of Mount Prospect have determined that the bid
submitted by The Northern Trust Co., Chicago, Illinois,
results in the lowest net interest cost to the Village; and
WHEREAS, the President and Board of Trustees of the
Village of Mount Prospect desire to accept the bid of
The
Northern Trust Co., Chicago, Illinois,
and to direct the
preparation of a bond ordinance in conformity therewith;
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK
COUNTY, ILLINOIS, AS FOLLOWS:
SECTION ONE: That the President and Board of Trustees
of the Village of Mount Prospect do hereby accept the bid of
The Northern Trust Co., Chicago, Illinois
at the net
interest cost of
4.96887 % to the Village, a copy of which
bid is attached to this resolution as Exhibit A and is made a
part hereof by this reference.
SECTION ~~O: That the President and Board of Trustees
of the Village of Mount Prospect do hereby authorize and direct
the preparation of an ordinance providing for borrowing money
and issuing bonds of the Village of Mount Prospect in the amount
of $2,000,000 for the purpose of paying the cost of acquiring
and constructing sewer extensions and improvements in Mount
Prospect, Illinois and providing for the levy and collection
of a direct annual tax for the payment of principal and interest
on said bonds, in conformity with the bid of
The Northern
Trust Co., Chicago, Illinois
, attached hereto as
Exhibit A to this resolution.
SECTION THREE: This resolution shall be in full
force and effect from and after its passage and approval in
the manner provided by law.
PASSED THIS
AYES: ~
NAYS: 0
ABSENT: I
APPROVED THIS
ATT::/ST:':
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I Village Clerk
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DA Y OF
J)e tJE/>1Se 1€-,
1973.
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If .....- DAY OF
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J)e. fJ.,BMBe. fI.., 1973.
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Robert D. ~~chert .