HomeMy WebLinkAboutRes 20-63 06/11/1963
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RESOLUTION NO. 2 0 - b 3
RESOLUTION directing the officials of the
Village of Mount Pros~ect, Cook County,
Illinois, to execute $1,128,000.00 Water-
works and Sewerage Revenue Bonds Series
1963 of said Village, designating the
Paying Agent therefor, and confirming sale
of said bonds to the purchaser thereof.
WHEREAS, the Village of Mount Prospect, Cook County,
Illinois has heretofore authorized the issuance of One
Million Four Hundred Fifty Thousand Dollars ($1,450,000.)
Waterworks and Sewerage Revenue Bonds, Series 1963 in
accordance with the provisions of Ordinance No. 907
adopted by the President and Board of Trustees of said
village on May 14, 1963; and
WHEREAS, One Million One Hundred Twenty Eight
Thousand Dollars ($1,128,000.) of said bonds have been
advertised for sale and have been awarded to
Halsey, Stuar~ and Company. Inc. >
being the best bidder for said bonds and said purchasers
have agreed to accept delivery of said bonds bearing a
lesser rate of interest than five percent (5%), as
provided in and by said ordinance authorizing the
issuance of said bonds as hereinbefore referred to, and
it being deemed advisable and in the interest of said
Village that said bonds be issued at the rates provided
for in and by the bid of said purchaser, a copy of
which is attached hereto; and
WHEREAS, in and by said ordinance authorizing the
issuance of said bonds it is incumbent upon the Village
to designate the Paying Agent therefor upon agreement
thereof with the said purchasers.
NOW, THEREFORE, be it resolved by the President
and Board of Trustees of the Village of Mount Prospect,
Cook County, Illinois as follows:
Section 1. That One Million One Hundred Twenty
Eight Thousand Dollars ($1,128,000.) Waterworks and
Sewerage Revenue Bonds, Series 1963 of the Village of
Mount Prospect, Cook County, Illinois being part of an
authorized issue of One Million Four Hundred Fifty
Thousand Dollars ($1,450,000.) be executed by the
officials of said Village as provided for in and by
said ordinance referred to in the preamble of this
resolution, and that said bonds maturing on May 1 of
each of the following years shall bear interest at the
rates shown.
Amount
$10,000
10,000
15,000
10,000
5,000
8,000
15,000
45,000
50,000
50,000
:55,000
55,000
55,000
55,000
50,000
55,000
60,000
75,000
75,000
75,000
75,000
75,000
75,000
75,000
Maturity
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
)fa y 1,
May 1,
May 1,
May 1,
May 1,
May 1,
May 1,
1964
1965
1966
1967
1968
1969
1970
1971
1972
t~~~
1975
1976
1977
1978
1979
1980
1981
1982
198;3
1984-
1985
1986
1987
Numbers
Intere:at Rate
31- L.o
71- 80
111-125
161-170
211-215
253-260
301-315
316-360
371-420
tt~l:~~~
536-590
601-655
666-720
721-770
801-855
866-925
926-1000
1001-1075
1076-1150
1151-1225
1226-1300
1301-1;375
1376-1450
~ i~tt~
~ ~~fr~
3 1/4%
~ i~tt~
.3 1/4%
.3 1/4%
5 i~tt~
.3 1/4%
3 1/4%
.3 1/4%
.3 1~~~
.3 1/_~70
3 1/4%
3.40 ~
3.~O ~
3.~0 %
3.40 %
.3 1/2%
3 1/2%
.3 1/2%
Section 2. That principal of and interest on said
One Million One Hundred Twenty Eight Thousand Dollars
($1,128,000.) Waterworks and Sewerage Revenue Bonds,
Series 1963, shall be payable at the American National
Bank and Trust Company of Chicago, in the City of Chicago,
state of Illinois as the Paying Agent for said bonds.
Section 3. That the officials of said Village be
and they are hereby ordered and directed to have the
bonds printed for delivery to said purchasers, and to
execute said bonds bearing the rates of interest specified
herein, being made payable at the paying Agent herein
designated, and upon execution thereof said bonds shall
be deposited with the Treasurer of said Village and be by
him delivered to the purchasers thereof upon receipt of
the purchase price therefor, in accordance with the terms
of the bid of the purchasers, same being One Million One
Hundred Twenty Three Thousand One Hundred Ninety One and
Thirty Four Cents ($1,123,191.34> plus accrued interest
to date of delivery thereof, and the contract therefor,
heretofore entered into by and between the purchasers and
the Village be and is hereby in all respects ratified and
approved.
Section h. That this resolution shall be in full
force and effect from and after its passage and approval
according to law.
PASSETI this 11th day of June, 1963
APPROVED this 11th day of June, 1963
,~ ~
(1vu.-","~ @) I ~J\.L~
President ~
Attest:
/j ;J tJ !-l1- ~ ,I
1\.,! 1~ ~J_ III :..--..:Lr-;'\j
Village Clerk
.