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Home My WebLink AboutResolutions - 1963.03.20 - 20079March 21, 1963 Bids - Southeastern Oakland County Sewage Disposal System Bonds TELE . CLAUDE 14. CF EDWARD L. EPENEBT GE . %ELDEN 5. DICKINSON EDWARD P. yvR;r..'"-c-r ROBERT E. McKEAN WILLIAM PE_ CUOLTIP GLENN O CURTES EDGAR C. HOWE:PERT AUGCBTLES C. LEDYARD WILLIAM ROGERS JOHN G. GARLENGHOLESE T. DONALD WADE WILLIAM A WALKER CHARLES R. MOON DONALD R. RLINTERMANN R, COURTNEY RANKIN DAN TEL J. TENDALL. JR. RICHARD C. VAN DUSEN FRED W. FREEMAN WELL ENGTON N. WATTEFES FREDERICK K., PLUMB WILLIAM G. WARREN p,...-rFncr, J. LEDWIDGE JOHN A. ZI E.GLER, JR. GEORGE E. McKEAN VERNE. E. HAMPTON. II DAVID P10130 DICKINSON,WRIGHT., McKEAN & cupop COUNSELLORS AT LAW 800 FIRST NATIONAL BUILOING DETROIT 26 April 22, 1963 DICKINSON, WRIGHT, McKEAN SOUTHEASTERN OAKLAND COUNTY SEWAGE DISPOSAL SYSTEM The County Clerk presented to the Board the following communication together with the unopened bond bids therein referred to: OAKLAND COUNTY DRAIN COMMISSIONER 550 SOUTH TELEGRAPH ROAD PONTIAC, MICHIGAN FEDERAL 8-4585 DANIEL W. BARRY ROBERT M. McGINNIS Commissioner Chief Etigineef ROBERT J. EVANS HOWARD V, RUIVIMELL Deputy Commissioner Accounting SflPerViSOT March 21, 1963 Board of Supervisors Oakland County, Michigan Reference: Gentlemen: $5,405,000 Southeastern Oakland County Sewage Disposal System Bonds, dated January I, 1963 Your Board on November 7, 1962 adopted resolutions providing for the issuance and sale of the above mentioned bonds. An order was issued on March 5, 1963 by the Municipal Finance Commission permitting the issuance of said bonds and the notice of sale for the same was approved by said Commission on the same day. The above mentioned order and approval are on file in my office together with affidavits of publication showing that the notice of sale was published in The Bond Buyer on March 8, 1963 and in The Daily Tribune in Royal Oak on March 8, 1963. The said published notice of sale provided for the receipt of sealed bond bids by me until 11:00 o'clock A.M., on March 21, 1963, l am transmitting herewith the 9' unopened bids which were received by me on or before 11:00 o'clock A.M. on this day. Respectfully submitted, Daniel W. Barry, Agent for the County of Oakland in re Southeastern Oakland County Sewage Disposal System Raizie-rt J. EAns, Oakland COun Deputy Drain Commissioner RJE/tla The Chairman instructed the County Clerk to open the bids for $5,405,000 Southeastern Oakland County Sewage Disposal. System Bonds to be dated January 1, 1963. The following bids were received. The Northern Trust Company & Associates bid par and accrued interest to date of delivery, plus a premium of S1.00, for said bonds bearing interest as follows: 5% on bonds maturing in the 3-1/4% on bonds maturing in 3% on bonds maturing in the 3-1/8% on bonds maturing in 3-1/4% on bonds maturing in 3-3/8% on bonds maturing in 3-1/8% on bonds maturing in years 1963 thru 1976 the year 1977 years 1978 and 1.979 the years 1980 thru 1982 the years 1983 thru 1987 the years 1988 thru 1991 the year 1992 Halsey Stuart p Co. Inc. and Associates bid par and accrued interest to date of delivery, plus a premium of 51,238, for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1974 4-1/4% on bonds maturing in the years 1975 thru 1.976 3-1/2% on bonds maturing in the years 1977 thru 1978 3-1/4% on bonds maturing in the years 1979 thru 1991 1/8% on bonds maturing in the year 1.992 First of Michigan Corporation, Blyth Co., Inc., Braun, Bosworth Co,, & Associates bid par and accrued interest to date of delivery, plus a premium of $2,623.05, for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1974 3% on bonds maturing in the years 1975 thru 1980 3-1/4% on bonds maturing in the years 1981 thru 1985 3-3/8% on bonds maturing in the years 1986 thru 1991. 1% on bonds maturing in the year 1992 Lehman Brothers, C. J. Devine & Co., Shields & Company, Salomon Brothers & Hutzler, A. C. Allyn & Co., L. F. Rothschild & Co., and Associates bid par and accrued interest to date of delivery, plus a premium of $702.65, for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1966 4% on bonds maturing in the year 1967 3% on bonds maturing in the years 1968 thru 1980 3-1/4% on bonds maturing in the years 1981 thru 1987 3-3/8% on bonds maturing in the years 1988 thru 1992 Morgan Guaranty Trust Company of New York and Associates bid par and accrued interest to date of delivery plus a premium of $111.85 for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1977 3-1/4% on bonds maturing in the years 1978 thru 1982 3-3/8% on bonds maturing in the years 1983 thru 1991 1/8% on bonds maturing in the year 1992 The Chase Manhattan Bank, Manager and Associates bid par and accrued interest. to date of delivery, plus a premium of $3,243,00, for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1973 4-1/2% on bonds maturing in the year 1974 3-1/4% on bonds maturing in the years 1975 thru 1991. 1/8% of 1% on bonds maturing in the year 1992 Smith, Barney te Co. and Associates bid par and accrued interest to date of delivery, plus a premium of $427.00, for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1975 4% on bonds maturing in the year 1976 3-1/4% on bonds maturing in the years 1977 thru 1986 3-3/8% on bonds maturing in the years 1987 tbru 1991 1/8 of 1% on bonds maturing in the year 1992 Drexel & Co. and Associates bid par and accrued interest to date of delivery with no premium for said bonds bearing interest as follows: 5% on bonds maturing in the years 1963 thru 1976 4% on bonds maturing in the year 1977 3% on bonds maturing in the year 1978 3-1/8% on bonds maturing in the years 1979 thru 1981 3-1/4% on bonds maturing in the years 1982 tbru 1985 3-3/8% on bonds maturing in the years 1986 thru 1989 3-1/2% on bonds maturing in the years 1990 thru 1991 1/8 of 1% on bonds maturing in the year 1992 Harris .Trust and SavinTs Bank Chiea.o . The First National Bank of Chica <o, Bankers Trust Company, as Joint Managers, and Associates bid par and accrued interest to date of delivery, with no premium, for said bonds hearing interest as follows: 5% on bonds maturing in the years 1963 thru 1978 3% on bonds maturing in the years 1979 thru 1980 3-1/8% on bonds maturing in the years 1981 thru 1984 3-1/4% on bonds maturing in the years 1985 thru 1990 1-3/4% on bonds maturing in the year 1991 1/8 of 1% on bonds maturing in the year 1992 Misc. 4145 Mr, Calhoun, Chairman of the Drain Committee, presented the following resolution: BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COUNTY OF OAKLAND, MICHIGAN, as follows: 1. That the proposal of The Chase Manhattan Bank and Associates (Chemical Bank New York Trust Company; Continental Illinois National Bank and Trust Company of Chicago; Mellon National Bank and Trust Company, Pittsburgh; Dick t'e Merle-Smith; The First National Bank of Memphis; National. Bank - of Commerce of Seattle; Cooley & Company, Hartford; Newburger Loeb Co.; The Provident Bank, Cincinnati; Martin and Company, Detroit) to purchase $5,405,000 Southeastern Oakland County Sewage Disposal System Bonds, to be dated January 1, 1963, at par plus accrued interest to date of delivery, plus a premium of $3,243.00, and bearing interest per annum as follows: 5% on bonds maturing in the years 1963 thru 1973 4-1/2% on bonds maturing in the year 1974 3-1/4% on bonds maturing in the years 1975 thru 1991 1/8 of 1% on bonds maturing in the year 1992 (same being the bid which produces the lowest net interest cost to the county with interest computed from April 1, 1963 and premium deducted therefrom), be and the same is hereby accepted, and all other proposals are hereby rejected and the bidding checks of the unsuccessful bidders are hereby ordered returned. 2. That the aforesaid bonds be issued in accordance with the terms set forth in the bond resolution adopted by this Board of Super- visors on NoVember 7, 1962, and bearing interest as set forth above. 3, That all resolutions and parts of resolutions, insofar as the same may be in conflict herewith, are hereby rescinded, ADOPTED: Yeas: Allerton, Alward, Bachert, Beamer, Beecher, Bloc, Bonner, Calhoun, James Carey, John Carey, Charteris; Cheyz, Cummings, Davis, J. W. Duncan, WM. Duncan, Durbin, Edward, Edwards, Ewart, Fouts, Frid, Gabler, Goodspeed, Hagstrom, Hall, Hamlin, Heacock, Hoard, Horton, Huber, Wallace Hudson, Hulet, Hursfall, Jackson, Kephart, Knowles, Lahti, Lessiter, Levinson, Love, Majer, McAleer, McCartney, Melchert, Menzies, O'Donoghue, Potter, Rehard, Remer, Rhinevault, Slavens, Solley, Tiley, Tinsman, Voll, Webber, Yockey. (58) NAYS: None. ABSENT: Archambault, Brickner, Clack, Clarkson, Cooley, Demute, Dewan, Dickens, Dohany, Forbes, WM. Hudson, Ingraham,. Johnsen, Levin, MacDonald, Marshall, McGovern, Mercer, Miller, Mitchell, Moore, Noel, Oldenburg, Osgood, Semann, Smith, Wood. (27) STATE OF MICHIGAN) COUNTY OF OAKLAND) ss 1, the undersigned, the County Clerk of the County of Oakland, do hereby certify that the foregoing is a true and complete copy of Miscellaneous Resolution No. 4145 (in re: Southeastern Oakland County Sewage Disposal System Bonds) and of the proceedings pertaining thereto duly adopted and taken by the Board of Supervisors of said County at a regular meeting held March 21, 1963, the originals of which are on file in my office.. Daniel T. Murphy County Clerk; Oakland County Dated: March 21, 1963 DANIEL W. BARRY Commissioner ROBERT 3. EVANS Depssty Commissioner ROBERT M. McOINNIS Chief Engineer HOWARD V. RUMMELL ,4ccountont , I \ 3 dI V OAKLAND COUNTY DRAIN COMMISSIONER 550 SOUTH TELEGRAPH ROAD PONTIAC, MICHIGAN EEDEEAL S-1585 .,t4F (Here bids for -y),4 System Bends to U7.; 1:171JA , dated January 6 OF TUE COUNTY TT,7 no,,?:o OF SUPERTL•: OF referred to M:7. Calhoun, an ot Drain e, Tve5nted the fo.f.' to purchase $5,4Wi,000 Southeastern Oakland Sewage Disposal • bPinA the bid to the county with and all of th„L: :Jhslcess -1 tS L) e lowest net intelt bond • -7 • .2.- L -JOZ, tu accor-:: to be C5 J..UtT 1, 19;L, at par 21C.E ,iccrued lyiLerest t.c&rt plus Of $ as 2. with the terms set sCorth in erysors on as ccc forth ,CoOve. 3. That all -vesolutions and ..drts r-J: resolutions, illsof& n conflict herewith, are