HomeMy WebLinkAboutRESOLUTIONS-1990-047-R-90auserl/illtvm/724856-d/l/080790
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Resolution Number 47-R-90
RESOLUTION confirming sale of not to exceed
$11,330,000 Water Revenue Bonds, Series 1990, of
the City of Evanston, Cook County, Illinois.
WHEREAS the City of Evanston, Cook County, Illinois,
(the "City") is authorized to issue not to exceed $11,330,000
Water Revenue Bonds, Series 1990 (the "Bonds"), in accordance
with the provisions of Ordinance Number 92-0-90 heretofore passed
by the City Council (the "City Council") of the City on August
1990, which ordinance (the "Bond Ordinance") is now or will
be at closing on the Bonds in full force and effect; and
WHEREAS the City has advertised for bids for the Bonds;
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WHEREAS bids therefor have been received and tabulated
as indicated on Exhibit A attached hereto and made a part hereof
by this reference, and it is hereby determined that the bid (the
"Bid") of John Nuveen & Co., Incorporated, Chicago, Illinois
(the "Purchaser") attached hereto as Exhibit B and made a part
hereof by this reference, conforms to all terms of the official
notice of sale for the Bonds and is the best bid for the Bonds,
and the Purchaser has agreed to accept delivery of the Bonds
bearing the rates of interest as hereinafter set forth;
NOW THEREFORE Be It Resolved by the City Council of the
City of Evanston, Cook County, Illinois, as follows:
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Section 1. Execution and Rates
The Bonds as defined in the preambles to this resolu-
tion shall be executed by the officials of the.City in the manner
and form as provided for in and by the ordinance so authorizing,
and the Bonds shall bear interest at the rates for the years as
set forth in the Bid.
Section 2. Acceptance of Bid
The City Manager is hereby authorized and directed to
execute and accept the Bid.
Section 3. Delivery of Bonds
The officials of the City be and are hereby ordered and
directed to have the Bonds prepared for delivery to the Purchaser
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specified herein. Upon execution thereof, the Bonds shall be
deposited with the City Comptroller and be by the Comptroller
delivered to the Purchaser, upon receipt of the purchase price
therefor, being a price of $ 10,944,450 plus accrued interest,
in accordance with the terms of the Bid .as hereby authorized to
be accepted by the City.
Section 4. Reduction of Principal Amounts
In accordance with the provisions of the Bond
Ordinance, the Comptroller may reduce the amount of Bonds to be
delivered in any maturity so as to accomplish the purposes as set
forth in the Bond Ordinance.
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Section 5. Conflicts of Interest
It is hereby found and declared that no person holding
any office of the City, either by election or..appointment, is in
any manner interested, either directly or indirectly, in his or
her own name or in the name of any other person, association,
trust or corporation, in the contract so confirmed in this reso-
lution to said purchaser for the purchase and sale of the Bonds.
Section 6. Effective Date
This resolution shall be in full force and effect
immediately upon its passage.
Approved:40zjr�.'.1990.
Mayor
Ayes: Aldermen Wold, Nelson, Wollin, Collens, Lanyon, Rudy, Juliar, Davis,
Brady, Morton, Rainey, Feldman, Warshaw, Paden, Drummer, Esch and Washington
Nays: -.-None
Absent: Alderman Korshak
Recorded In City Records:
Attest:
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dit lerk
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September 5 , 1990.
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Name of Bidder
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EXHIBIT A
To Resolution Confirming Sale
Here insert tabulation of bids.
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Bid
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EXHIBIT B
To Resolution Confirming Salk
Here insert copy of Bid as accepted
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