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M i NUTES OF T i-:2 R!Z GULAR MEE TING
CF THE
BOARD OF TRUSTEES
THE JUNIOR COLLEGE DISTRICT OF
ST. LOUIS, ST. LOUIS COUNTY, MISSOURI
TUESDAY, MARCH 1, 1966 - 1 1 : 0 0 A . M .
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Pursuant to recess taken at its regular meeting on Monday, February 28,
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1966, the Board of Trustees of The Junior College District of St. Louis, St. Louis,
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County, Missouri, met on Tuesday, March 1, 1966, at 11:00 a . m . , at the Central
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Office of the District, 7508 Forsyth Blvd., St. Louis, Missouri.
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GENERAL FUNCTIONS
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1.2
Roll Call
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The Board President, Mrs. Joseph C. Bastion, celled the meeting to order
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at 11:05 a . m . The following members were present:
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Mrs.
Joseph C. BQStian
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Messrs.
Lester C . Geil
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Guy S. Ruff in
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Joseph G . Stewart
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Gerald V . Williamson
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Board Member Morris Glaser was out of town and, therefore, could not be
present.
Also present were Dr. Joseph P. Cosand, President; M r , John Robertson,
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Vice President; Mrs. Mary Jane Calais, Acting Treasurer; and Mrs. Dolores B.
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Tygard, Community Relations — all of The Junior College District staff.
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Messrs. Kenneth Teasdale and Bruce E. Woodruff of the firm of Armstrong, Teasdale,
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Kramer and Vaughan, Counsel for the District and Messrs. Carl Trauernicht, Sr.
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and Carl Trauernicht, J r . , Bond Counsel for the District, were also present.
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5.
BUSINESS A N O YI N A N C E
The Secretary reported t o fhe Board t h a t , as previously directed by the
Board, she had mailed to a l l interested banks, bond houses, and investment bcnkers
in the State of Missouri and elsewhere printed copies of a " N o t i c e of Bond Scie"
in r e l a t i o n to Twenty M i l l i o n Dollars ($20,000,000) (part of $47,200,000 authorized)
Junior College Bonds of The Junior College District of St. Louis, St. Louis Ccunty,
Missouri, as authorized at a special e l e c t i o n held in said District on the 16th day
of November, 1965, and the Secretary further reported that to each copy of the
aforesaid " N o t i c e of Bond Sale" there was attached a printed form of a Proposal
for the Purchase of $20,000,000 Junior College Bonds of said D i s t r i c t , and en
O f f i c i a l Statement of said D i s t r i c t .
The Secretary further reported t h a t , as
previously directed by the Beard, the aforesaid " N o t i c e of Bond Sale" was p.-blished
one time in The Bond Buyer, a f i n a n c i a l journal published in the C i t y of New Y o r k .
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The Secretary further reported t h a t , pursuant to the aforesaid " N o t i c e
of Bond S a l e " , there were f i l e d w i t h her, at or before the hour of 11 -.00 A . M . ,
Central Standard Time, on Tuesday, the 1st day of M a r c h , 1966, two (2) sealed
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=_
proposals for the purchase of said bonds, and the Secretary then and there presented
said sealed proposals to the Board. Thereupon, the President instructed the
Secretary t o proceed to open the aforesaid sealed bids and to read the same aloud
in the presence and hearing of the Board and of the bidders assembled.
The Secretary then proceeded to open the aforesaid bids, w h i c h are
summarized as follows:
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Names of Bidders
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Harris Trust and Savings 1967-70
Bank, Chicago and
1971
Associates
1972-79
1980-86
5 3/4%
5%
3 3/4%
3.90%
$20,000,000
$8,762,587.50
3.94018%
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The Northern Trust
Company and
Associates
1967-70
1971
1972-79
1980-81
5 3/4%
5%
3 3/4%
3.80%
$20,004,899
$8,726,568.50
3.92399%
1982-86
3.90%
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For Bonds Beer r i g
Interest- At The
Rate or Rates O f
Amount
C f Bid
Net
Interest
Cost
Average
Interest
Cost
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Following the reading of the bids, the Board proceeded to consider the
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same for the purpose of determining the best and most advantageous bid submitted.
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Thereupon, Trustee Williamson moved that a l l bids be rejected.
The motion was
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seconded by Trustee G e i l , and upon being put to a roll call v o t e , the result was
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os f o l l o w s :
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Those voting YES:
Mrs.
Joseph C . Bastian
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Messrs.
Lester C . G e i l
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G u y S. Ruff in
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Joseph G . Stewart
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Gerald V . vVilliamson
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Those Voting N O :
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The motion having received the affirmative vote of all the members of the
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NONE
Board present, the President declared the motion carried this 1st day of M a r c h ,
The Board took up for consideration the matter of directing the issuance of
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Twenty M i l l i o n Dollars ( $ 2 0 , 0 0 0 , 0 0 0 ) , part of an issue cf Forty-seven M i l l i o n ,
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Two Hundred Thousand Dollars ($47,200,000) Junior College Bonds, authorized at
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a special e l e c t i o n held on the 16lh day of November, 1965, and thereupon,
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Trustee Williamson offered and moved the adoption of the following
A resolution authorizing and d i r e c t i n g the issucrce
of Twenty M i l l i o n Dollars ($20,000,000), part zf an
issue of Forty-seven M i l l i o n , Two Hundred Thcsand
Dollars ($47,200,000) Junior College Bonds of The
Junior College District of St. Louis, St. Louis County,
Missouri, authorized at a special e l e c t i o n helc en
November 16, 1965; prescribing the form and I n c i dents of said bonds; and providing for the levy cf an
annual tax sufficient to pay the principal of se'd
bonds at maturity and to pay the interest therern as
it accrues.
WHEREAS, the Board of Trustees of The Junior College District of St.
Louis, St. Louis County, Missouri, at a regular meeting thereof he d on the 11th
day of October, 1965, did adopt a resolution directing the submis=rcn to the
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resolution:
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q u a l i f i e d electors of The Junior College District of St. Louis, St. .cuis County,
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Missouri, at a special e l e c t i o n to be held in said District on the 1:-h day of
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November, 1965, of the f o l l o w i n g proposition:
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PROPOSITION
"To authorize The Junior College District of St. Louis,
S t . Louis County, Missouri, to incur an indebtedness
of said District in the amount of Forty-seven /<';iiion,
Two Hundred Thousand Dollars ($47,200,000) :'cr
the purpose of purchasing schoolhouse sites anr ether
land for school purposes, erecting school housei, library
buildings, and furnishing same, and building additions
t o or repairing old buildings in the said Junio- College
D i s t r i c t , and to evidence such indebtedness by rhe
issuance of bonds in said amount for said purpes-s.";
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and
WHEREAS, the Secretary of this Board of Trustees, pursuar- to the afore-
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said resolution, d i d cause notice of said e l e c t i o n t o be published >. the St. Louis
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Globe-Democrat and in the St. Louis Post-Dispatch, being newspecers of general
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c i r c u l a t i o n vvithin the C i t y of St. Louis and w i t h i n each county w i t h i n the D i s t r i c t ,
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at least once a week for three (3) consecutive weeks, t o - w i t : on the 30th day of
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October, 1965, and on the 6 t h and 13th days of November, 1965, the last
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insertion in ecch o f said newspapers having been no longer than one (1) week
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prior to the date of said e l e c t i o n ; and
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WHEREAS, pursuant to the aforesaid resolution of this Board, the Secretary
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of this Board did f i l e w i t h the Board of Election Commissioners for the C i t y of
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St. Louis and w i t h the Board of Election Commissioners for St. Louis County,
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respectively, a properly c e r t i f i e d copy of said resolution; and
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WHEREAS, the said Boards of Election Commissioners d i d proceed t o hold
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and conduct the said special election on the 16th day of November, 1965, at
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a l l of the polling places designated by said Boards of Election Commissioners; and
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WHEREAS, the said Boards of Election Commissioners for the C i t y of
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S t . Louis and for St. Louis County diu report the results of said special e l e c t i o n
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to this Board of Trustees; and
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WHEREAS, this Board of Trustees, at a meeting held on the 13th day of
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December, 1965, d i d canvass the returns of the said special election held on said
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16th day of November, 1965; and
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WHEREAS, this Board of Trustees d i d then f i n d and does now again f i n d ,
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upon said ccnvass and upon the reports and c e r t i f i c a t i o n s of the Boards of Election
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Commissioners, aforesaid, that at the said special e l e c t i o n there were cast on the
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aforesaid proposition an aggregate of one hundred e i g h t y - t w o thousand, eight
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hundred ninety-seven (182,897) votes, of w h i c h one hundred t h i r t y - s i x thousand,
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four hundred seventy-two (136,472) votes were cast "FOR THE L O A N " and
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f o r t y - s i x thousand, four hundred t w e n t y - f i v e (46,425) votes were cast " A G A I N S T
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THE L O A N " ; and this Board does now further f i n d and declare that at the said
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e l e c t i o n more than two-thirds of the electors v o t i n g on the said proposition
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assented thereto; and
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WHEREAS, the ballots furnished to and used by the electorate at the said
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special e l e c t i o n were i n the form required by law and as set out in the aforesaid
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resolution adopted on the 11th day of O c t o b e r , 1965; and
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WHEREAS, the assessed v a l u a t i o n of t a x a b l e , tangible property w i t h i n sold
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District, as ascertained by the last completed assessment prior t o the date of the
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aforesaid special e l e c t i o n , namely, the assessment made as of January 1 , 1964, was
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Three B i l l i o n , Five Hundred Forty-one M i l l i o n , Three Hundred Twenty Thousand,
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Two Hundred Seventy-two Dollars ( $ 3 , 5 4 1 , 3 2 0 , 2 7 2 ) ; and
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WHEREAS, the said D i s t r i c t , on the date of said e l e c t i o n , t o - w i t : on the
16th day of November, 1965, had no outstanding indebtedness; and
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WHEREAS, the amount of the bond issue authorized on said d a t e , t o - w i t :
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Forty-seven M i l l i o n , Two Hundred Thousand Dollars ($47,200,000), w i l l not
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exceed ten per centum (10%) of the value of t a x a b l e , tangible property, as
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aforesaid, and w i l l not exceed any constitutional or statutory limit of indebtedness;
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and
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WHEREAS, this Board of Trustees does now f i n d that it is advisable and
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in the best interest of said District at this time to proceed w i t h the issuance of
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Twenty M i l l i o n Dollars ($20,000,000) cf bonds of the aforesaid authorized issue,
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and t o reserve the right hereafter, in its discretion, to issue the remaining Twenty-
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seven M i l l i o n , Two Hundred Thousand Dollars ($27,200,000) of bonds of the
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aforesaid authorized issue; and
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WHEREAS, it now becomes uccecsary to make provision for the issucnce of
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the said bonds:
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N O W , THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
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THE JUNIOR COLLEGE DISTRICT OF ST. LOUIS, ST. LOUIS C O U N T Y , MISSOURI,
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AS FOLLOWS:
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SECTION 1 . That bonds of The Junior College District of St. Louis, St.
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Louis County, Missouri, in the amount of Twenty M i l l i o n Dollars ($20,000,000),
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being part of an issue of Forty-seven M i l l i o n , Two Hundred Thousand Dollcrs
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($47,200,000), authorized at a special election held on the 16th day of November,
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1965, be and the same are hereby authorized and directed to be issued for the
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purpose of purchasing school-house sites and other land for school purposes,
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erecting schoolhouses, library buildings, and furnishing same, and building
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additions to or repairing old buildings in the said Junior College District; that
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the bonds be four thousand (4,000) in number, numbered from One (1) to Four
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Thousand (4,000), inclusive; of the denomination of Five Thousand Dollars
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($5,000) each; that they be dated February 1 , 1966; that they bear interest from
53
the date thereof ai the rate or rates per annum to be designated pursuant to the
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sale of said bonds, payable February 1 , 1965, and semi-annually thereafter on
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August 1 and February 1 in each year until payment of the principal thereof,
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respectively; that said bonds be payable, both as to principal and interest,
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in lawful money of the United States of America at a bank or trust company to
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be designated pursuant to the sale of said bonds, and that said bonds shall mature,
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without option of prior payment, in the amounts and at the times f o l l o w i n g ,
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to-wit:
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BOND NUMBERS
1 to 310, incl.
RATE OF INTEREST
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MATURITY
(February 1)
AMOUNT
1967
715,000
1963
454 to 600,
735,000
1969
601 to 752,
760,000
1970
753 to 909,
735,000
1971
910 to 1072,
815,000
1972
1073 to 1240,
340,000
1973
1241 to 1413,
865,000
1974
1414 to 1592,
895,000
1975
1593 to 1777,
925,000
1976
1778 to 1968,
955,000
1977
1969 to 2166,
990,000
1978
2167 to 2370,
1,020,000
1979
2371 to 2581,
1,055,000
1930
2582 to 2799,
1,090,000
1981
" 2800 to 3024,
1,125,000
1982
3025 to 3256,
1,160,000
1983
3257 to 3496,
1,200,000
1934
3497 to 3744,
1,240,000
1985
3745 to 4000,
1,280,000
1986
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(To be designated
pursuant to the sale
of said bonds)
mumim n
$1,550,000
311 to 453,,
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SECTION 2 .
That the said bonds shall be executed by the President
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of the Board of Trustees of The Junior College District of St. Louis, St. Louis
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County, Missouri, by her facsimile signature, under the seal of said Board,
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attested by the Secretary of said Board, by her mc-.cal signature, and that each
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of the coupons evidencing the interest to accrue thereon shall be executed by
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the facsimile signatures of said President and said Secretary.
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SECTION 3 .
That the said bonds and the interest coupons to be
attached thereto shall be in substantially the f o i l awing forms:
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UNITED STATES OF AMERICA
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STATE OF MISSOURI
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THE JUNIOR COLLEGE DISTRICT
OF ST. LOUIS, ST. LOUIS C O U N T Y , MISSOURI
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JUNIOR COLLEGE BOND
B
NO.
B
$5,000
The Junior College District of St. Louis, 5r. Louis County, Missouri,
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acting by and through the Board of Trustees of said District, for value r e c e i v e d ,
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hereby acknowledges itself indebted and promises to pay to bearer or, if this
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bond be registered, t o the registered owner hereof, the sum of
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FIVE T H O U S A N D DOLLARS
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($5,000) on the first day of February, 19
, with interest thereon from date
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hereof at the rate of
B
payable February 1 , 1965, and semi-annually thereafter on August 1 and
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February 1 in each year until the principal of this bend shall have been f u l l y
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paid.
per centurr. (
%) per annum,
Interest accruing on this bond on and prior to the maturity date hereof
shall be payable upon presentation and surrender of the interest coupons hereto
attached as they severally become d u e .
Both principal of and interest on this bond are payable in lawful money of
the United States of America at ^
in the C i t y of
,
, State of
, and for the prompt
payment of this bond at maturity and the interest thereon as it accrues, the f u l l
f a i t h , c r e d i t , and resources of the said Junior College District are hereby
irrevocably pledged.
This bond may be registered as to principal only in the name of the owner,
the registry to be c e r t i f i e d hereon by the Secretary of the Board of Trustees, and
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this bond is subject to successive registrations or transfers, at the option of the
owner of this b o n d . This bond may be discharged from registration by being
transferred t o bearer, after w h i c h it shall be transferable by d e l i v e r y , but it may
be registered again as b e f o r e .
This bond is one of a series of four thousand (4,000) bonds, numbered from
Cne (1) to Four Thousand ( 4 , 0 0 0 ) , inclusive, a l l of like d a t e , tenor, and e f f e c t ,
except as t o rate of interest and date of m a t u r i t y , aggregating the principal sum
of Twenty M i l l i o n Dollars ($20,000,000) (being part of an authorized issue of
Forty-seven M i l l i o n , Two Hundred Thousand Dollars ($47,200,000)
), issued
for the purpose of purchasing schoolhouse sites and other land for school purposes,
erecting schoolhouses, library buildings, and furnishing same, and b u i l d i n g
additions to or repairing old buildings in the said Junior College District, under
and pursuant to and in f u l l compliance w i t h the Constitution and Laws of the State
of Missouri and pursuant to resolutions and proceedings duly adopted and had by
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the Board of Trustees of said Junior College D i s t r i c t , and w i t h the assent of more
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than t w o - t h i r d s of the q u a l i f i e d electors of said Junior College District v o t i n g thereon
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at an e l e c t i o n d u l y and l e g a l l y c a l l e d and held for that purpose on the 16th day of
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November, 1 9 6 5 .
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It is hereby c e r t i f i e d , r e c i t e d , and declared that a l l acts, conditions, and
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things required t o be performed, to exist, and to happen, precedent to and in the
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issuance of this bond, in order to make the same a v a l i d and binding o b l i g a t i o n of
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said D i s t r i c t , have been performed, do e x i s t , and have happened in due t i m e , f o r m ,
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and manner, as required by l a w ; that the amount of this b o n d , together w i t h a l l other
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indebtedness of said Junior College D i s t r i c t , does not exceed any limit prescribed by
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the Constitution or Statutes of the State of Missouri; and that before the issuance of
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this bond, provision has been made for the c o l l e c t i o n of an annuat tax on a l l t a x a b l e ,
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tangible property w i t h i n the aforesaid Junior College District sufficient to pay the
interest on this bond as it accrues and the principal of this bond at m a t u r i t y .
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I N WITNESS WHEREOF, The Junior College District of St. Louis, St. Louis
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County, Missouri, has caused this bond to be executed by the President of its Board
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of Trustees, by her facsimile signature, under the seal of said Board, attested by
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the Secretary of said Board, and has caused the interest coupons hereto annexed to be
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executed by the facsimile signatures of said President and Secretory, and this bond
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to be dated the first day of February, 1966.
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THE JUNIOR COLLEGE DISTRICT OF
ST. L O U I S , ST. LOUIS C O U N T Y , MISSOURI
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Attest:
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Secretary, Board of Trustees
President, Board of Trustees
(FORM OF INTEREST COUPONS)
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$
NO.
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February,
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On the first day of August, 19
, The Junior College District of St. Louis,
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St. Louis County, Missouri, promises to pay to bearer the amount shown on this cou-
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pon in lawful money of the United States of America at
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, in the City of
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, State of
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being interest due that date on its Junior College Bond dated February 1 , 1966, and
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numbered
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.
THE JUNIOR COLLEGE DISTRICT OF
ST. LOUIS, ST. LOUIS COUNTY, MISSOURI
BY
Attest:
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President, Board of Trustees
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Secretary, Board of Trustees
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The interest coupons to be attached to said bonds shall be payable in the
following amounts:
Bond Numbers
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Coupon due
February 1 , 1967
Subsequent SemiAnnual Coupons
Upon the reverse of each of said bonds there shall be printed the following
provisions for registration:
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B
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REGISTRATION
In accordance with a provision in this bond, this bond may be registered in
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the name of the owner, the registry to be certified hereon by the Secretary of the
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Board of Trustees of The Junior College District of St. Louis, St. Louis County,
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Missouri, after which no transfer shall be valid unless made by the registered owner
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3/1/66
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in person or by attorney upon the books of said Secretary, and the name of the new
registered owner s i m i l a r l y placed in the registration clause b e l o w .
This bond may be
discharged from registration by being transferred t o bearer, after w h i c h i t shall be
transferable by d e l i v e r y , but i t may be registered again as b e f o r e .
The registration
of this bond shall not restrain the n e g o t i a b i l i t y of the interest coupons by d e l i v e r y
merely.
Notice:
N o w r i t i n g below except by the Secretary of the Board
of Trustees of The Junior College District of S t . Louis,
S t . Louis County, Missouri
DATE OF REGISTRATION
SECTION 4 .
I N WHOSE N A M E
REGISTERED
SIGNATURE OF SECRETARY,
BOARD OF TRUSTEES
That for the purpose of providing for the payment of the p r i n c i p a l
of and the interest on said bonds as they shall respectively mature and accrue, there
shall be and there is hereby levied a d i r e c t , continuing annual tax upon a l l t a x a b l e ,
t a n g i b l e property w i t h i n The Junior College District of St. Louis, S t . Louis C o u n t y ,
M i s s o u r i , due allowance being mode for delinquencies in the payment of taxes and
cost of c o l l e c t i o n , sufficient to produce in each of the years 1967 t o 1986, i n c l u s i v e ,
the sums respectively due for principal and interest in each of said years.
The said
tax shall be extended upon the tax rolls and c o l l e c t e d in the same manner and at the
same time as other taxes are c o l l e c t e d , and the rate of tax w h i c h shall be so extended
shall be sufficient i n e a c h year f u l l y to produc
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the bonds herein a u t h o r i z e d ,
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the principal and interest requirements of
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SECTION 5 .
That- a l l collections of the said fax in each of the years a f o r e -
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said shall be kept by the Treasurer of this Board of Trustees in a separate fund to be
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used only for the payment of the principal of said bonis at maturity and the interest
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thereon as it accrues.
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SECTION 7 .
That when the said bonds shall hcve been prepared and executed
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as in this resolution d i r e c t e d , they shall be delivered into the custody of the Treasurer
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of this Board, w h o , in t u r n , shall deliver the said bonds to the purchaser thereof in
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accordance w i t h the terms of any sale and a w a r d .
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SECTION 8 .
That The Junior College District cf St. Louis, St. Louis County,
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Missouri, referred to in this resolution, is hereby declared and recognized to be one
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and the same as the Junior College District designated 'the Junior College District
H
of St. Louis - St. Louis C o u n t y , Missouri" in the O f f i c i a l Ballot used at the e l e c t i o n
M
held in said Junior College District on the 3rd day of - p r i l , 1962, pursuant to w h i c h
M
the said District was o r g a n i z e d .
9
9
Trustee G e i l having seconded the motion to accpt the foregoing resolution,
a n d , the question being put to a roll c a l l v o t e , the result was as follows:
n
Those v o t i n g YES:
•
Mrs.
Joseph C . Bastian
Messrs.
Lester C . G e i l
K
Guy S. Ruff in
9
Joseph G . Stewart
9
Gerald V . Williamson
1
Those v o t i n g N O :
NONE
H
The motion having received the affirmative vc-re of a l l the members of the Board
M
present, the President declared the motion carried arc the resolution adopted, this
1
1st day of M a r c h , 1966.
I
3/1/66
-14-
•
I
d&fa
^g&
The Board then took up the matter of obtaining a Pro Forma Decree v a l i -
question
the
and
authorized)
hereby
Armstrong,
inclusive,
St.
Louis
dating
Louis,
Stewart
I , 1966
issuance
adjudge
Louis,
binding
County,
St.
the
authorized
Trustee
SECTION
B
offered
being
on
E Revised
Louis
St.
Twenty
IT
Teasdale,
this
Junior
obligations
of
that
RESOLVED
Missouri
put
Louis
said
Geil
day
and
County,
the
1and
to
College
Million
Statutes
.bonds.
directed
moved
County,
seconded
Twenty
avalidating
counsel
action
Court
A
Junior
($20,000,000)
Louis,
That
Kramer
directed
roll
under
of
resolution
by
Missouri,
said
the
Dollars
the
of
Bonds
call
of
the
College
as
St.
Million
to
Missouri,
and
for
&
Missouri,
the
St.
legal
adoption
District,
may
to
be
Vaughan,
vote,
Board
the
Louis
The
of
pursuant
motion
institute
authorizing
Louis
($20,000,000)
issued.
namely,
be
said
issuance
counsel
Dollars
(of
Bonds
Junior
of
the
County,
necessary
as
1959,
County,
and
of
$47,200,000
District
Trustees
to
follows:
result
shall
to
the
proceedings
of
After
adopt
Kenneth
College
enter
for
($20,000,000)
of
Sections
said
and
in
following
Missouri,
be
Twenty
The
was
dated
to
Missouri
a
order
of
Junior
the
adirecting
District
and
discussion
obtain
The
decree
Junior
as
District
Teasdale
authorized)
foregoing
108.310
that
February
the
follows:
Million
inJunior
College
resolution:
to
athe
dated
said
in
College
validating
said
(of
decree
take
the
of
the
of
Circuit
and
to
College
$47,200,000
legal
Dollars
St.
resolution
the
Court
1
legal
such
February
Bonds
Circuit
,108.350,
the
1966
District
subject,
counsel
Court
may
and
law
dcted
District
are
1,
and,
firm
authorizing
determine
ofvalid
Trustee
are
February
St.
of
of
the
Those voting YES:
Mrs.
Joseph C. Bastion
Messrs.
Lester C. Geil
Guy S. Ruff in
Joseph G . Stewart
Gerald V . Williamson
Those voting N O :
NONE
The motion having received the affirmative vote of all the members of the
Board present, the President delcared the motion carried and the resolution adopted
this 1st day of March, 1966.
9.
ADJOURNMENT
Board President Bastian asked if there were any further business to come before
the Board. There was not, and upon motion by M r . Williamson, seconded by Mr.
G e i l , and with the unanimous vote of the members of the Board who were present,
the meeting was adjourned at 12:25 p . m .
Respectfully submitted,
Dolores B.
Secretary,
The Junior
St. Louis,
3/1/66
Tygard
Board of Trustees
College District of
St. Louis County, Missouri
-16-
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w a s p u b l i s h e d i n s a i d n e w s p a p e r f o r . ..<* c o n s e c u t i v e
issues, a s follows:
lejr'e D i s t r i c t o f St. L o u i s , S t .
Louis County,
M i s s o u r i , will
p r e s e n t , t o t h e C i r c u i t C o u r t in
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THE J"I.!'NIVH.'\J(I'LI.I-:(;E j
D1STRDT U- • ST. I.OlIS. ;
St. Louis, County, M:s.-ouii
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Proof of Publication
_.J.he...^MniQr...C.Q.Xi-.a&^---))J.&tJ»...o£.--S t . Louis , S t . Louis County
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PROPOSAL FOR THE PURCHASE
OF
$20,000,000
(of an authorized issue of $47,200,000)
Cr
JUNIOR COLLEGE BONDS
OF
THE J U N I O R COLLEGE DISTRICT
5T. LOUIS, ST. LOUIS C O U N T Y , MISSOURI
"nrrft
'1966-
1
To the B:c.-d of Trustees of
The Junicr College District of
St. Louis, St. Louis County, Missouri
Gentlemen:
For Twer.7 M i l l i o n Dollars ($20, 000, 0ZQ, par v a l u e , Junior College Bonds of The Junior College District of St. Louis,
St, Louis County, Missouri, bearing ir.*=-2st a t the rate or rates specified below, we w i l l pay you
7
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<t-<-t c-y fj/.cc- -- -~r/ ~ct *,{^ T~7(IL fisj-.i
if s:>.^.J. ?:c*uf,
n i u , sY,^/A
^$ ', •;- ..' / • ' <r_ ;•.- ,
) and acc-.ed interest to the date of delivery of said bonds to us.
i ••
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The sale rends shall bear interest as fol'cws:
/
Maturities
/fSc
r/fj
Interest Rates
S/
J6
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.if,*%
/
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It is ur.-^rstood and agreed by the unoe--'gned that i f there be any discrepancy as between the actual interest cost or
average 'nferest rate computed upon t r ; rate or rates of interest above specified and the interest cost or average interest
rate fic.-es hereinabove set forth, the -rerest rate or rates above specified and the actual interest cost or average interest
rate cc-puted upon said rate or rates i-'cil p r e v a i l .
[ r
•'•'•{•'
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It is h c f b y represented that the gross ' " r r e s t cost, computed upon the above-specified rate or rates of interest, ^will be
1J
$_
c .' -I', that the net -rerest cost (deducting premium, if any) w i l l be $ ,( ~? ) 6 J * 'J ''c i dnd r n a r
7
the a v e r s e interest rate w i l l be
,' - ; V//
%.
^
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Subject to your approval, the said bonds shall be payable as to principal and interest at a place to be designated by
the undersigned w i t h i n forty-eight (48) hours after the acceptance of this b i d .
Likewise, w i t h i n forty-eight (48) hours
after the acceptance of this b i d , the undersigned shall designate which of said bc-.ds, if any, shall be of the denomination
of $1,000 and which of said bonds, i f a n y , shall be of the denomination of $ 5 , 0 0 0 .
A l l of the designations made pursuant
to this paragraph shall be in writing addressed to the Secretary of the Board of Trustees.
This proposal is subject to a l l of the terms and conditions of the N o t i c e of Bond Sale, which by this reference is hereby
made a part hereof.
A c e r t i f i e d or cashier's check in the amount of Four Hundred Thousand Dollars ($^00,000), payable to The Junior College
District of St. Louis, St. Louis County, Missouri, accompanies this proposal as evidence of good f a i t h , and said check
shall be returned to the undersigned if this b i d be not accepted or if the District should fail to deliver the said bonds to
the undersigned in accordance with the terms of this b i d ; otherwise, said check shall be held by the District and shall be
applied as and when the bonds are delivered and paid for under the terms of this b i d , as part payment therefor, or be
applied as and for liquidated damages in the event that the undersigned fails to tc<e up and pay for said bonds.
This bid is for immediate acceptance.
;
THE riORTHSRN^TRUST^qMPANY & A S S O C I A T E S
yjp^
' ^ ( ^ e e Hxtached)
.-v \»scond Vl-€o Pr-osidcnt
(Note:
N o addition to or alteration in this proposal is to be made, and any erasure may cause a rejection of the b i d .
Bids must be f i l e d with the Secretary of the Board of Trustees, sealed, at or prior to 11:00 A . M . , Central Standard
Time, on Tuesday, the 1st day of M a r c h ,
1966.)
ACCEPTANCE
The above proposal accepted by resolution of the Board of Trustees of The Junior College District of St. Louis, St. Louis
County, Missouri, and receipt of the w i t h i n - m e n t i o n e d check hereby acknowledged, this
A>t<:«.t;
day of
, 1966.
President, Board of Trustee!
•••( t e t a r y ,
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Members In Account
The Northern Trust Company
Chemical Bank New York Trust Co.
Kuhn, Loeb & Co.
Seattle-First National Bank
Ladenburg, Thalmann & Co.
Wertheim & Co.
First National Bank in St. Louis
First Wisconsin National Bank of Milwaukee
Crocker-Citizens National Bank
Republic National Bank of Dallas
Bache & Co.
Shearson, Hammill & Co. Incorporated
Estabrook & Co.
Kean, Taylor & Co.
City National Bank & Trust Co.
E. F. Hutton & Co., Incorporated
Industrial National Bank
A. G. Edwards & Sons
James A. Andrews & Co. Inc.
Shelby Cullom Davis & Co.
Baker, Watts & Co.
State Street Bank and Trust Company
Anderson & Strudwick
*
Boland, Saffin, Gordon & Sautter
Yates, Woods
Model, Roland & Co., Inc.
Henry Harris & Sons, Inc.
Kenower, MacArthur & Co., Incorporated
Stein Bros. & Boyce, Inc.
J. C. Wheat & Co.
Townsend, Dabney & Tyson
Byrd Brothers
Prescott & Co.
Hutchinson, Shockey, Erley & Co.
Howe, Barnes & Co.
The Fort Worth National Bank
Stlx & Co.
Underwood, Neuhaus & Co., Incorporated
M. B. Vick & Company
PROPOSAL FOR THE PURCHASE
OF
$20,000,000
(of an authorized issue of $ 4 7 , 2 0 0 , 0 0 0 )
J U N I O R COLLEGE BONDS
OF
THE JUNIOR COLLEGE DISTRICT
O F ST. LOUIS, ST. LOUIS C O U N T Y , MISSOURI
March 1 ,
, 1966.
To the Board of Trustees of
The Junior College District of
St. Louis, St. Louis County, Missouri
Gentlemen:
For Twenty M i l l i o n Dollars ( $ 2 0 , 0 0 0 , 0 0 0 ) , par v a l u e , Junior C o l l e g e Bonds of The Junior College District of St. Louis,
St. Louis County, Missouri, bearing interest a t the rate or rates specified b e l o w , we w i l l pay you TWENTY MILLION AND
NO/lOO
~
—
($ 20 0 0 0 . 0 0 0 . 0 0
) a n c ^ accrued interest to the date of delivery of said bonds to us.
The said bonds shall bear interest as follows:
,
, ^
!
/
'
'
'
i
Maturities
2/1/67 thru 2 / l / 7 0 , inclusive
2/1/71
2/1/72 thru 2/1/79, inclusive
2/l/RO t h r u 2 / 1 / 8 6 , i n c l u s i v e
. •
I
Interest Rates
5 3/4*
5
%
3 3/4*
3.90 £
/
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•
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It is hereby represented that the gross interest cost, computed upon the above-specified rate or rates of interest, w i l l be
$ 8,762,587.50
, that the net interest cost (deducting premium, i f any) w i l l be $ 8 , 7 6 2 , 5 8 7 . 5 0
, and that
the average interest rate w i l l be 3.94018
%.
It is understood and agreed by the undersigned that if there be any discrepancy as between the actual interest cost or
average interest rate computed upon the rate or rates of interest above specified and the interest cost or average interest
rate figures hereinabove set f o r t h , the interest rate or rates above specified and the actual interest cost or average interest
rate computed upon said rate or rates shall p r e v a i l .
Subject to your a p p r o v a l , the said bonds shall be payable as to p r i n c i p a l and interest at a place to be designated by
the undersigned w i t h i n f o r t y - e i g h t (48) hours after the acceptance of this b i d . Likewise, w i t h i n f o r t y - e i g h t (48) hours
after the acceptance of this b i d , the undersigned shall designate which of said bonds, i f any, shall be of the denomination
of S I , 000 and which of said bonds, i f any, shall be of the denomination of S5, 0 0 0 . A l l of the designations made pursuant
to this paragraph shall be in w r i t i n g addressed to the Secretary of the Board of Trustees.
This proposal is subject to a l l of the terms and conditions of the N o t i c e of Bond Sale, which by this reference is hereby
made a part hereof.
A c e r t i f i e d or cashier's check in the amount of Four Hundred Thousand Dollars (S400, 000), payable to The Junior College
District of St. Louis, St. Louis County, Missouri, accompanies this proposal as evidence of good f a i t h , and said check
shall be returned to the undersigned i f this b i d be not accepted or i f the District should fail to d e l i v e r the said bonds to
the undersigned in accordance with the terms of this b i d ; otherwise, said check shall be held by the District and shall be
applied as and when the bonds are delivered and paid for under the terms of this b i d , as part payment therefor, or be
applied as and for liquidated damages in the event that the undersigned fails to take up and pay for said bonds.
This bid is for immediate acceptance.
This bid i s conditioned upon the District
obtaining a PRO FORMA DECREE validating these
bonds, on or prior to March 8, 1966.
HARRIS TRUST AND SAVINGS RANK, Chicago & Associates
H a r ^ £ 8 T r u s t a n f l Savings'Bank
, ,
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(Note: N o a d d i t i o n to or a l t e r a t i o n in this proposal is to be made, and any erasure may cause a rejection of the b i d .
Bids must be f i l e d w i t h the Secretary of the Board of Trustees, sealed, at or prior to 11:00 A . M . , Central Standard
Time, on Tuesday, the 1st day of M a r c h , 1966.)
ACCEPTANCE
The above proposal accepted by resolution of the Board of Trustees of The Junior College District of St. Louis, St. Louis
County, Missouri, and receipt of the within-mentioned check hereby acknowledged, this
day of
Attest:
Secretary, Board of Trustees
(SEAL)
President, Board of Trustees
, 1966.