HomeMy WebLinkAboutRESOLUTIONS-1975-005-R-750
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RESOLUTION 5•-R-75
—RESOLUTION confirming .iale of.
i�o,c-6T corporate P-.,rpose Bonds,
Series 1975�—of' the City of
Evanston, Cook County, 'T]_linois,
and providing for deposit of
funds to pay interest payable on
July 1, 1975 and January 1, 1976.
WHEREAS, the City of Evanston, Cook County, Illinois,
has heretofore authorized the advertisement for sale of its
$800,000 Corporate Purpose Bonds, Series 1975, to be issued
for the purpose of paying part of the cost of constructing
municipal improvements, and
WHEREAS., said bonds have
been advertised for
sale and
bids _esponsiva thereto have
been received as Follows:
Net I31tei`:S�` Nat?*.i-;orest :
Bidder Prera ium
Cost
Rate
Harris Trust & Savings Bank
$164.00
$271,411.00
5.0261%
Evanston Bane:
None
273,875.00
5.0717%
Continental Ill.11atl.Bank &
j
Trust Co, of Chicago
62.50
278,750.00
5.162037% ;
The Northern Trust Company
39.00
279,411.00
5. 17427%
LaSalle National Bank Manager
First Natl.Bank&Trust Co.of
Evanston
12-50
279,812.50
5.181713%
BanclJorthwest
54.26
279,970.74
5. 1846°a
William Blair s Company & Assoc.
None
283,050.00
5.241666%
The First National Bank of Chicago
2.00
284,673.00
5.271722%
Vank Kampen Wauterlelc & Brown, Inc.
None
285,950.00
5.295370%
Mercantile Trust Company, N.A.
None
287,100.00
5.31666 %
and
Bank
ME7- :iS, the bid of Harris Trust & Savings
has baen and. is hereby determined
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e
to be tna best bid for said bonds„ such bid cozil,.)lyin.g with the
for bid3 and for :-iji of S.tid i)ond,3 ckb ±)=ir
zZnu arcis da -a of day ave ry and a prornJ.u; ax
164,00 ; and
i1rilE.i^A5, in ord2r to I? al? Spa ti boil°aS :03'' attractive_
'ta pros -)-active ba,ad.a_3 iV ;'ia3 dz.ef:.2d C..vJ..sab-... .0.a t v
a i i l 1, on s d bonds �'t 1 7 Q— +such da- bein,
p .y,.b .. invic�..i. ,j ,c..� ,�.a vi1 .l;:i!_ j v �-.. 1 � a �-- S
prior to the uaLe on which ta.ties l2 ied for such pu ose will
have been collected and, accordiri rly, it is necessary that pro-
vision be made to cay from bond procseds the interest bacomi.n
due on July 1, 1J?5 and Jranua 'ter 1, 19705, in advance of the col-
! lectior, of taxes Levied for such purpose and to make reimburse-
ment when such 'cares shall have been collected:
i'SO;'T, I�4EF� 0�? `', 3e It Ordained by the City Council off'
f
the City of Evanston, CooX County, 11linoia, as follows:
Section 1. Award of said $800,000 Corporate PurposeBonds, Series 1975, of tha City of Evanston, Cook County,
Illinois, is hereby ride to Harris Trust and
Savings sank , at a price of par and accrued inter-
est to date of delivery and ,a prer:liwm of 164.00 , said
bonds being numbered, becoming due and bearing interest as fol-
lows:
Serial Piw:!bers, Principal Year of Rate oa
Both Inclusive Amot'•._Y'it m tourity Int-,r C3 t
1
to
15
$ 75,000
1977
4.90%
16
to
30
75,000
1978
4.90°0
31
to
45
75,000
1979
4•90%
4o
to
60
75,000
1980
4.90%
61
to
75
75,000
1991
4.90%-
7i
to
90
75, 000
1982
4.90
1984
5.00%
lW3
121
to
to
120
140
75,000
100, 000
1985
5.20 0
' 1-1
to
io
9F'; 3
5.20%
-2-
r
k,
ItiMiz--di ate.ly upon tno rek eint of the pro-
;11 Oji0nCia, 7r.r_La Is
ref :2rred to, i a:.' t. `;/�"4' �,' '^max ' s � c
_ _ a.�u_ l� hex uy
ordered a-nd directod to I'di -1-id.L .i'rl '�'?'O:i! suC1. OC:ads tt1C $Zii:i U
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� 39,375. , being the eLo'ant c:L' intarea to bacos_.a duo olvi
said bond 0.1 J'' J ' :/?5 Yll cl .1',! }. f ( J �3a1{L ^a? ti C .'%:l
�.��'�' S'1:�'>. ±7:. !: a'`:.1 C..1 3:L G'J '�r�l:i � � .i nil.iz - .�;i ..` .v a
bank dasiSnated as tha payir_g; a-ent :& or said bonds, .tith appro-
priate _ins t'ractions to hold such a— mount in trtls - j zuch amount
to be used and a�Dpliod solely :�' d onlyto the p�tymant of the
interest coLpons numbared ore and tivo pertaining, to said G%ov'e�
described bonds and reprosenving the `in erest beco rirg clue on
said bonds on July 1, 1975 and January 1, 1976,
is y Section 3. As soon as the tax es levied for the year
i
1975., in and by the. Ordinance to be adopted by
the City Council. on January 13 , 1975, have been collected,
i=
said City Treasurer be and is hereby ordered and directed to
reimburse the bond procewds with the amount so withdrawn and
advanced for the pay-mant of interest due on said bonds:, on Jul
1, 1975 and January 1, 1976.
'. Section 4. This resolution shall be in fall force
and effect i=ediately upon its passage.
Attest:
City cler::
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