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<br />l22 <br /> <br />Special Meeting <br /> <br />February 17, 1988 <br /> <br />Page 2 <br /> <br />Mayor Younger introduced for consideration the receiving and review- <br />ing of bids for the sale of the City's $1,660,000 General Obligation <br />Bonds, Series 1988. Monty Nitchalous of First Southwest Company <br />opened and reviewed bids with Council as follows: <br /> <br />Clayton Brown & Associates, <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />Inc. (insured <br />$l,36l,48l.25 <br />-0- <br />$1,361,481.25 <br />7.2419 <br /> <br />by MBIA) <br /> <br />Underwood, Neuhaus & <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />Co., <br /> <br />Inc. (insured by <br />$l,399,625.00 <br />-0- <br />1,399,625.00 <br />7.4448l38 <br /> <br />MB IA) <br /> <br />Prudential Bache Securities, Inc. (insured <br />Gross Interest Cost $l,330,3l2.50 <br />Less Premium -0- <br />Net Interest Cost $l,330,3l2.50 <br />Effective 7.0761 <br /> <br />by BIG) <br /> <br />Shearson Lehman Bros., <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />Inc. <br /> <br />(insured by MBIA) <br />$l,35l,793.75 <br />-0- <br />$l,35l,793.75 <br />7.l90392 <br /> <br />Smith Barney, Harris <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />& Upham (insured by AMBAC) <br />$l,363,650.00 <br />260.65 <br />$l,363,389.35 <br />7.252071 <br /> <br />MBank Capital Markets <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />(insured by MBIA) <br />$l,347,3l8.75 <br />-0- <br />$l,347,318.75 <br />7.166589 <br /> <br />Lovett Mitchell Webb <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />& Garrison (insured by <br />$l,339,340.63 <br />-0- <br />$3,339,340.63 <br />7.l24l52 <br /> <br />MBIA) <br /> <br />Mayor Younger introduced for consideration the receiving and review- <br />ing of bids for the sale of the City's $1,340,000 Combination Tax and <br />Revenue Certificates of Obligation, Series 1988. Monty Nitchalous of <br />First Southwest Company opened and reviewed bids with Council as fol- <br />lows: <br /> <br />Clayton Brown & Associates, <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />Inc. (insured <br />$ 987,037.50 <br />225.84 <br />$ 986,8ll.66 <br />7.l3787 <br /> <br />by MBIA) <br />