Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

City of Montreal Deal - Lehman Brothers Collection

City of Montreal

Company Deal$7,200,000 5 1/4% sinking fund debentures for local improvements due February 15, 1977; $17,800,000 5 1/4% sinking fund debentures for public works due March 1, 1977
Transaction TypeSinking Fund Debentures for Local Improvement / Sinking Fund Debentures for Public Works
Deal DescriptionThe City of Montreal, Canada, applied the proceeds from the local improvement debentures toward, or to the repayment of interim bank borrowings incurred to finance temporarily, the cost of various condemnations of property in order to open, extend, and widen certain streets, and the cost of certain other permanent local improvements, consisting of sewers, pavements, and sidewalks. The city applied the proceeds from the public works debentures toward the cost of some or all of the following public works or the repayment of interim bank borrowings incurred in connection with such public works: slum clearance, road and highway construction and grade separation, public garages, parking grounds and markets, trunk sewers, parks, construction of a civic center and concert hall, purchase and installation of telephones, traffic lights, and lighting systems, relaying of pavings, acquisition, construction, and restoration of underground conduits, widening and opening of public streets, waterworks, first furnishing of Viger Building, purchase and installation of fire alarms and lighting systems, construction of bridges and tunnels, acquisition, construction, and restoration of municipal buildings, garages, and warehouses, construction of greenhouses at the Botanical Gardens and reconstruction and improvement of public baths, establishment of parks and playgrounds, and construction of collector sewers.
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