HomeMy WebLinkAboutRESOLUTIONS-1972-048-R-720
•
LA b - 1--j am
MESOLUTION directing the officials of the
City of Evanston, Cook County. Illinois,
to execute $600,000 Water Revenue goads,
$arles 1972, of said City. designating
the Paying Agent therefor, arid, confirm -
trig sale of said bonds to the purchasers
thereof.
WIJEREAS, the City of Evanston, Cook County, Illinois 10 authorized
to Issue $600,000'Water Revenue Bonds, Series 1972, In accordance with.the
of ordinance adopted by the' City CoU`nclj of said City on the Path
day of November, 1972; and
ViEPEAS, said bonds have been advertised for sale and have been
t.
awarded to Fahriestook Cr nvany and.Assoclatis, being the highest and
best bidder for said -bonds, -and said purchasers have agreed 'to accoOt
delivery of said bonds bearlog'a,lesser ratle'of Interest than six per cent
(6t), as provided In and by said ordinance authorl4ing thew' issue of sold
bonds, as hereinabove referred to, -and It Is deemed advisable and Inthe
Interest of sat'd City that said bonds be issued at the rates provided for in
and by the bid of said purchasers, copy of which is hareto attached; and
WHEREAS In and by said ordinance authorizing the Issuance of sold,
bonds It Is Incumbent upon the City to designate the Paying Agent therefor
upon agreement thereof with ,then said' purchosers, ,sit. as provt4eo by Sections
5 and 12 of said ordinance hereinabOve refeered tO.
NOW, THEREFORE, Be It and It Is Hereby Resolved by- the City Counell
of the City of Evanston, Cook County, Illinois as follows$
Sectlon,l. That $600,000 Water Reve6ue 'Bonds, Series 1972, of the
City of Evanston, Cook County, 1111nots, be executed by -the officials of said
City.as provided for in and by $af,d ordinance referred to In the preambles of
this resolution, and that sold bonds maturing on January I of each. of.the
following years bear - interest at the rates shown;
•
2.
Yea r, numbers Amount [haste of Interest
1974- 1- 10 50,000 4.90%
1975 11- 20 50,000 4.90%
1976 21- 30 50,000 4.0%
1977 31 •- 40 56,€ oo 4.4oz
1979 51..60 50,000 4.00%
1980 •61-.70 50,000 4.00%
19131 71- W 50,000 4. 0%
1982 81- go 50,000 4.2o
1983 91-100 50 000 . 4.40%
1984 101-110 50 a000 4.40%
1985 111 w 120 50,000 4.40%
Section 2. That principal of and interest on sapid- Water Rievenue
bonds, 'Series, 1972, shall he payable at the ,Tho First Commercial gawk in
the City of Chicano, aand'State of, 111lnois, as the Paying Agent for said bonds,
Section 3. That tile officials of sold City,be and they aareehereby
ordered and directed to he" the bonds printed for delivery to said purchasers,
and to execute said bonds bearing -the rates of. interest specified herein*, being
mode payable at the Paying Agent herein designated, -and upon execution theyreof
saki bonds shall be deposited with the Treaseare'r of -said City and be by him
delivered to the purchasers thereof upon rescelpt of the purchase price -therefor,
in" acc+ordence With the terms of •the bid of the purchasers, same being
$600,101.50 plus accrued Interest to data of del ivory thereof, and the contract
therefor heretofore. entered Into by Arid ,between the purchasers and the City
be and Is lace reby In all respects ratified and approved.
Section 4. That this resolution shall be In full force and effect
iairw,diately upon Its passage., r '
ADOPTED: Vac er ber' 4,,. 1972
APPROVED, f' +
/s/ Edgar Vanneman, Jr.
Mayor
ATTEST:
/s/ Maurice F. Brown
' City Clark