HomeMy WebLinkAboutRes 08-55 05/24/1955 RESOLUTION authorizing the President
and Village Clerk to sign $370,000
water revenue bonds directing delivery
to the purchaser of said bonds, and
designating the paying agent.
WHEREAS, the President and Board of Trustees of
the Village of Mount Prospect, Cook County, Illinois here-
tofore on April 5, 1955 adopted an ordinance for the issue
of $370.000 water revenue bonds with interest thereon not
to exceed three and one - quarter (3u%) per cent per annum; and
WHEREAS, pursuant to advertisement for bids by
publication for the purchase of said bonds, Wm. Blair & Co.
offered to purchase said bonds as follows:
Bonds maturing 1958 through 1964 inclusive at
the rate of 2 3/4%
Bonds maturing 1965 through 1970 inclusive at
the rate of 3%
Bonds maturing 1971 and 1972 at the rate of
2 3/4%
Bonds maturing 1973 through 1979 inclusive at
the rate of 3%
and,
WHEREAS, it has been mutually agreed by the
purchaser of said bonds and the Village of Mount Prospect that
7°
be designated as the paying agent for said bonds;
NOW, THEREFORE, BE IT RESOLVED by the president
and Board of ..,gees of the Village of Mount Prospect,
Cook County, Illinois, as follows:
SECTION 1. That the President and Village Clerk
be and they are hereby authorized and directed to sign the
$370,000 water revenue bonds, numbers 1 to 370 inclusive
dated April 1, 1955, maturing in the years 1958 to 1979
inclusive with interest coupons attached thereto as follows:
Bonds maturing 1958 through 1964 inclusive at
at the rate of 2 3/4%
Bonds maturing 1965 through 1970 inclusive at
the rate of 3%
Bonds maturing 1971 and 1972 at the rate of
2 3/
Bonds maturing 1973 through 1979 inclusive at
the rate of 3%
SECTION 2 That the offer of Wm. Blair & Co.
recieved on May 17, 1955 in response to publication ofrotice
for bids on said bonds and on May 17 1955 filed for public
'inspection be and the same is hereby accepted and the
contract for the purchase of said bonds awarded to the said
Wm. Blair & Co. as the lowest bidders.
SECTION 3. That upon execution of said bonds, they
be deposited with the Treasurer and be by said Treasurer
delivered to said purchasers upon receipt of the purchase
price therefor
SECTION 4. That by agreement of the purchaser of
said bonds and the Village of Mount Prospect, the
/4/7, A-4 0 , ti �� � Z c _ be and
it is hereby designated the paying agent for said bonds.
SECTION 5. That this resolution shall be in full
force and effect forthwith on its passage and approval.
PASSED: this ti ' of _ /J //y- ; A.D. 1955.
APPROVED: this , day of �� . A.D. 1955.