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HomeMy WebLinkAboutRESOLUTIONS-1968-018-R-68• 0 6 RESOLVI'14V directing the officials of the City Of tvanxtd6, Cook County,, Illinoin, to e3e-cutc M$25, 000 Motor, Nobicle Park- Ing SYOtem Revenue Wads, Sarle,4 of. 1968 of said City, designating the Haying Agent therefor, and confirming sale Of'said bonder to the purchasers thereof. .%aznlis the city of Evanston, Cook COutkty, 1111noiP to authorized to INSUO $2,8230000 Motor Vehicle Parking System Revenuo-BOndsi Series of 190, to accordance with the Provisions Of an ordinance entitled: "'A.W.001HANCE authorizing and providing for the -issue of $2,625,000'Motor Vohicle Parking System -.RoVen6e'fbadb., -sertes of 1966, of the City of Evanston, -COoU-�unty, Iftinoid ot, Your the purpose of paying the cost of acquirino and construct- 4 Ing additional off-street motor vehicle parking facilities, Vre- ocrIbing all tfia detaile of said bond&#: providinj f6r the 6h4r, g- Ing of rates and fees for the 1490 Of such fatilitios, . and thisCollection,* 6efteotion and distribution of such wtor vehicle piirking f"d littes, f0ir fth6 purposo -of pay Ing the �ogit of operation and maintenance theroofand paying the ,princl�al.or and Interest upon such Motor V - ehicle Parking Systsaa ,Revenues adopted W'-tho City Council of said City on the 29th 04 of July and UHMEAS said bonds have boon advertised for sale and, .it, appearing ki that John NuVe4m CO.' INC. iznd Associates, art the highest and best bidders for said bonds, and It is domed advisable and -An the Inter,6stbf sold City that said bonds be sold to said purdhaSera-at the price provid dd for In -and bY the bid of said purchasers, copy of ublcbls attached hereto; and IMUEAS in Gnd,bY said Ordla4nce autborizIng the issuance of sat bonds it 16 lidcuabent upon the City to46sjgnate the P4149 Agent therefor upon agreemmt thereof with the said.purchase rd, all as provided by."Section 8'of, said ordinance herainabove reforred.to. 11MEFOU, -Do It and Ii to tlerpyyjlaa6lvod by the City Coun'ctl of the City of Evanston, Cook County, Illinois, is$ follows'. Section That the *2*625,0000 motor Vehicle Parking systsm Itevenuo Ponds, Series of 1060, of 00 City Of EVaAStOn, Cook County, Illinois, be exec-uted by the officlals Of said City an provided for in and by -said ordinance referred to In the prembles of this rosolution. Section. 2. That said bonds and 'interest coupons thereon shall be pay- able at The First Comonercial Hank, in the City of Ghica,,,,,jo, Illinois an the • Paying Agent for said bonds and interest coupons. Section 3. That said bonds shall bear interest at the following, gates for'bonds of they respective maturities. - . jears Amount Interest Rate, 1070 to AqZ9, incl. 520.000 6.00 �► , 0 to 19Ad, Incl. S 400,00�3 incl. j.O.��O 5.00 �r Section 4. That the: officials of said City be and they are her*by ordered and directed to have the,borads.printed for delivery to said purchasers,.. and'to'xecutr said bonds rya a.bls- at the Paying p y y g Agent•`herein designated, and upon execution;there©t�;,cnfd'batid! �'-*M t be deposrited with the Treasutrer of . - .. * - said} City and bey by him delivered to .then purhhssersi, s ae being the par value thereof plus a ptee ium' Of $101.50 plu.4 a6crued Interest to date of • delivery thereof, contract therefor shall be executed by and between the pur- chasers and the City In accordance with the Official !Sid Fora and -same Is hereby in all respects ratified andapprove3d. Section .§ That this resolution ,shall be In full force and effect immediately upon Its passage. Approved. , ^' /s/ johA Mayor Attts'ti Is -Meu"rice F. Brown City Cleric ; • OFFICIAL BID FORM Mayor and City Council City of Evanston Evanston, Illinois Gentlemen: August 12, 1968 For $2,825,000 City of Evanston, Illinois Motor Vehicle Parking System Revenue Bonds, Series of 1968 described in the annexed Official Notice of Sale which is expressly made a part hereof, we will pay the par value thereof plus a premium of $ 101.50 plus accrued interest from July 1, 1968 to the date of delivery. The bonds are to bear interest at the following coupon' rates (each a multiple of % or 1/10 of 1 Jo) for the bonds of each designated maturity. 1970................................$40,000 6 % 1971................................40,000 % 1972................................ 45,000�—% 1973................................ 45,000�% 1974 ...... .......................... % 1975........................... 55,000�—% 1976................................ 55,000 6 % 6 % 1978................................ 65,000 6 % 1979................................ 65,000 6 % MATURITIES —January 1 1980 ..............................$ 70,0005 % 1981 .............................. 75,000 5—�% 1982 80,000 5T% 1983 .............................. 85,000 52-% 20/0 1985 .............................. 95,000 5 % 1986 .............................. 100,000 5 Vo 1987 .............................. 105,000 5 % 1988.............................. 110,0005 % 1989 .............................. 120,0005 % 1990..............................$125,000 5 % 1991 .............................. 130,000 5 % 1992 .............................. 140,000 5 % 1993 .............................. 145000 5 % 1994 .............................. 150:0005.10 olo 1995 .............................. 160,000 5.10% 1996 165,000 5.10% .............................. 1997 .............................. 175,000 5. 1010 1998 .............................. 185,000 5.10110 Said bonds are to be executed and delivered to us in accordance with the terms of this bid accompanied by the approving legal opinion of Messrs. Chapman and Cutler, Attorneys, Chicago, Illinois, which opinion is to be printed on each bond. You are to pay for said legal opinion and printing the bonds. As evidence of our good faith, we enclose herewith check in the sum of $56,500 in accordance with your Official Notice of Sale. A list 'of the members of our account on whose behalf this bid is made is appended hereto. • Description of Check Respectfully submitted, : Amount: $56,500 Name JOHN NUVEEN & CO. (Inc.) and Associates Name of Bank By =�`� THE FIRST NATIONAL BANK OF CHICAGO W. G.-Inman, Vice President Address 209 S. LaSalle Street City= CHICAGO State ILLINOIS City Chicago State Illinois Certified (cashier's) Check No E785213 ----------NOT A PART OF BID ---------- Dated August 12, 1968 Our calculation of interest cost from above is: . (FOR USE BY CITY ONLY) The above check was returned and received. for the above Account Manager Total Interest .......................................... $ 2,793,672.50 Less Premium $ 101.50 Net Interest Cost $ 2,793,571.00 .................................. . By Net Interest Rate .................................... 5.1549 %o The foregoing bid was accepted and bonds sold by resolution of the City of Evanston, Illinois, August 12, 1968 and receipt is hereby acknowledged of the good faith check which is being held in accordance with the terms of the Official Notice of Sale. ATTEST: CITY OF EVANSTON, ILLINOIS • By City Clerk Mayor