HomeMy WebLinkAboutRESOLUTIONS-1984-081-R-84•
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RESOLUTION NO. 81 -R-84
RESOLUTION confirming sale of $3,300,000
Water Revenue Bonds, Series 1984, of the
City of Evanston, Cook County, Illinois.
WHEREAS, the City of Evanston, Cook County, Illinois, has
heretofore been authorized to issue $3,300,000 Water Revenue Bonds,
Series 1984, of said City, in accordance with the provisions of
Ordinance No. 119-0-84 entitled:
"AN ORDINANCE authorizing and providing for the
issue of $3,300,000 Water Revenue Bonds, Series
1984, 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 October 22, 1984; and
WHEREAS, said bonds in the principal amount of $3,300,000
have been advertised for sale and the bid of BLUNT ELL I S
s L(1RdI INC to purchase said bonds
at a price of $3.267.480.50 plus accrued interest on said bonds
from December 1, 1984 to the date of delivery has been determined
to conform to all of the terms of the Official Notice of Sale and
has been determined to be the best bid submitted for said bonds;
and
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WHEREAS, in Section 11 of said Ordinance No. 119-0-84 ,
the City Council agreed to adopt a resolution fixing the rates of
interest the bonds are to bear in accordance with the terms of the
accepted bid:
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 $3,300,000 Water Revenue Bonds, Series
1984, of the City of Evanston, Cook County, Illinois, authorized
to be issued by Ordinance No.119-0-84 entitled:
"AN ORDINANCE authorizing and providing for the
issue of $3,300,000 Water Revenue Bonds, Series
• 1984, 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 on October 22, 1984, shall be executed
by the officials of said City in the manner and form as provided
for in and by said ordinance. Said bonds shall be dated December
1, 1984 and shall become due serially on January 1 of the years, in
the amounts and bearing interest as follows:
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Principal
Year of
Rate of
Amount
Maturity
Interest
$ 50.9000
1986
11 .60
75,000
1987
11 .60%
100,000
1988
11 .60%
75,000
1989
1 1 .60%
75,000
1990
1 1 .60 0
100, 000
1991
1 1 .60 0
125,000
1992
1 1 .60%
125,000
1993
1 1 .60%
125,000
1994
1 1 .60%
125,000
1995
1 1 .60 0
125,000
1996
9.60%
125,000
1997
9.60%
125,000
1998
9.60%
125,000
1999
9.60%
125,000
2000
9.60%
1504000
2001
9.60%
725,000
2002
9.60%
825,000
2003
9.60%
Section 2. The officials of said City shall be and they
• hereby are ordered and directed to have said bonds in the principal
amount of $3,300,000 prepared for delivery to said purchaser., Upon
execution thereof, said bonds shall be delivered to the purchaser
thereof, namely, RIIINT FI I IC F_J_OFhll IN(;
, 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 3. This resolution shall be in full force and
effect immediately upon its passage.
Attest:
City Clerk
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Adopted �/ n,/1-1
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