1970-04-04 - Resolution 1970-11 - Permission granted Marquette de Bary Co. to purchance Waterworks and Sewerage Revenue Bonds RESOLUTION #R-70-11
RESOLVED that the President and Clerk be and they are
hereby authorized to execute that certain offer of Marquette
de Bary Co. to buy the Village ' s $4,000,000.00 7% Waterworks
and Sewerage Revenue Bonds Series 1969 at par plus accrued
interest (a copy of which is attached hereto and made a part
hereof as Exhibit "A") upon receipt by the Village Clerk of
a certified check from Marquette de Bary Co. in the amount
of $40,000.00 so payable to the Village in accordance with
said offer; provided however that said check is on deposit
with. the Village Clerk not later than 4 P.M. C. S.T. April 10,
1970.
FURTHER, RESOLVED that the authority granted herein
ceases' in.:the event of the failure of Marquette de Bary Co.
to make such deposit as aforesaid.
Passed and approved this 4th day of April, A.D. , 1970.
Marquette de Bary Co.
• Investment Bankers
44 Wall Street
New York,N.Y. 10005 Telephone(212)944-4005
• Cable Address MARQ'
April , 1970
Honorable President and Board of Trustees
The Village ''of Buffalo Grove, Illinois
Buffalo Grove, Illinois
Gentlemen:
For your legally issued $1).,000 ,000 Village of Buffalo Grove, Illinois 7%
Waterworks and Sewerage Revenue Bonds, Series 1969, described in. the
Preliminary Official Statement attached hereto and made a part hereof, we here-,.
by offer to pay $2+,000 ,000 plus accrued interest to date of delivery.
Our offer to purchase these bonds is conditioned on the following:
1. , The furnishing by you of a final Official Statement substantially in the
form of the Preliminary attached and subject to the approval of Mudge
Rose Guthrie & Alexander. - •
2. The furnishing by you of an unqualified approving opinion as to the , 4'
legality of the Bonds by Messrs. Mudge Rose Guthrie &
Bond Counsel, New York, New York.
3 The furnishing by you of an executed treasurer's receipt, certificate of
• non-litigation, and other customary closing papers.
w If. Delivery of the Bonds no later than June 10, 1970. unless extended by
mutual agreement.
tor�..0 ,
We a os a certified check in the amount of $2+0,000 with this offer of ,
purchase tobuffalo Grovef in Cook and Lake Counties to be retained by you
pending full ayment,by us, subject to the above conditions, and to be forfeited
to the Village as liquidamages in full upon failure by us to accept delivery and mho
payment for the .bonds when ready for delivery.
If this offer is acceptable to you, please execute one cory and return it.
to us.
Very truly yours
Accepted by the Village of Buffalo Grove, Ill. MARQ T •e BABY CO. •
By �.
Attest: • • e • - =ary
Date •