HomeMy WebLinkAboutRESOLUTIONS-1982-047-R-82•
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RESOLUTION NO. 47-R-82
RESOLUTION confirming sale of $5,000,000 Water
Revenue Bonds, Series 1982, of the City of
Evanston, Cook County, Illinois, designating
the paying agent therefor and directing the
Comptroller of said City to deliver the same
to the purchaser thereof.
WHEREAS, the City of Evanston, Cook County, Illinois,
has heretofore been authorized to issue $5,000,000 Water Revenue
Bonds, Series 1§i2, of 'said City, in accordance with the provi-
sions of Ordinance No.99-0-82 entitled:
"AN ORDINANCE. authorizing and providing for the
issue of $5,000.,000 Water Revenue Bonds,. Series
1982, of the City of Evanston, Cook County,
Illinois, for the purpose of defraying the cost
of improving and extending the present water-
works -system of said City, prescribing all the
details of said bonds, and providing for the
collection, segregation and distribution of the
revenue of the waterworks system of said City."
adopted by.the City .Council of said City on September 20, 1982;
and
WHEREAS, said bonds in the principal amount of $5,000,000
have been advertised for sale and the bid of JOHN NUVEEN F CO.,
INCORPORATED to purchase said bonds
at a price of $4,950,000.00 plus accrued interest or. said bonds from
October 1, 1982 to date of delivery has been.determined to conform
to all of the terms of the Official Notice of Sale and has been
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determined to be.t.he best bid submitted for said bonds; and
WHEREAS, the First National Bank ,and Trust Company of Evanston
in the City of Evanston , Illinois,
has been agreed upon between the City and the purchaser as paying
agent for said bonds.; .and
WHEREAS, in Section 11 of said Ordinance No. 99-0-82 ,
the City Council agreed to adopt a resolution fixing the rotes of
interest the bonds are to bear, designating the paying agent and
directing the officers of the City to execute and deliver the
bonds to the purchaser:
NOW, THEREFORE, Be It and It Is Hereby Resolved by the
City Council of the City of Evanston, Cook County, Illinois, as
follows:
Section 1. The $5,000,000 Water Revenue Bonds, Series
1982, of the City of Evanston, Cook County, Illinois, authorized
to be issued by Ordinance No. 99-0-82 entitled:
"AN ORDINANCE authorizing and providing for the
issue of $5,000,000 Water Revenue Bonds, Series
1982, of the City of Evanston, Cook County,
Illinois, for the purpose of defraying the cost
of improving and extending the present water-
works system of said City, prescribing all the
details of said bonds, and providing for the
collection, segregation and distribution of the
revenue of the waterworks system of said.City."
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adopted by the City Council on September 20 , 1982, shall be ex-
ecuted by the officials of said City in the manner and form as
provided for in and by said ordinance. Said bonds shall be dated
October 1,. 1982, be numbered from 1 to 1000, inclusive, of the
denomination of $5,000 each, and become due serially on January 1
of the years, in the amounts and bearing interest as follows:
Serial
Numbers,
Principal
Year of
Rate of
Both Inclusive
Amount
Maturity
Interest
1
to
10 `'
$ 50,000
1985
10.50
11
to
20
50,000
1986
10.50
21
to
3.5
75,000
1987
10.50
36
to
50
75,000
1988
10.50
51
to
65
75,000
1989
10-50
66
to
85
100, 0-00
1990
10.50
86
to
110
125,000
1991
10.50
111
to
140
150,000
1992
10.50
141
to
180
200,000
1993
8.50
181
to
2,20
200,000
1994
8.60
221
to
285
325,000
1995
8.9.0
286
to
360
375,000
1996
8.90
361
to
470
550,000
1997
8.90
471
to
600
650,000
1998
8.90
601
to
740
700,000
1999
8,90
741
to
900
800,000
2000
8.90
901
to
1000
500,000
2001
8.90
Section 2. The First National Bank and Trust Company of Evanston
in the City of Evanston , Illinois,
shall be and the same is hereby confirmed as paying agent for said
bonds.
Section 3. The officials of said City shall be and they
are hereby ordered and directed to have said bonds in the principal
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amount of $.5.,000,000 printed for delivery to said purchaser, and
to execute said bonds. upon execution thereof, said bonds shall
be deposited with the Comptroller and be by him delivered to the
purchaser thereof, namely, JOHN NUVEEN & CO . , INCORPORATED
upon receipt of the purchase price
therefor in accordance with the terms of the bid.submitted by said
purchaser and accepted by the City.
Section 4. This resolution shall be in full force and
effect immediately upon its passage.
Attest:
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City Clerk
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