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RESOLUTION NO. 81 6 9 8
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A RESOLUTION AWARDING $1,750,000 FIRE FIGHTING,
FIRE PREVENTION .AND RESCUE FACILITIES BONDS,
$4,400,000 HOUSING BONDS AND $3,000,000 STORM
SEWER IMPROVEMENT BONDS OF THE CITY OF MIAMI,
FLORIDA, AND SETTING FORTH THE RATES OF INTEREST
! _ AND OTHER DETAILS RESPECTING SUCH BONDS
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The Commission has ascertained and deter-
mined and does hereby declare that:
(a) In accordance with the provisions of Resolution
No. 81-625 , duly passed and adopted by the Commission on
July D9, 1981, a Notice of Sale was duly published on July
10, 1981, by the Acting Director of Finance calling for
sealed bids to be received until 11 o'clock A.M., Miami
Time, July 23, 1981, for $1,750,000 Fire Fighting, Fire
Prevention and Rescue Facilities Bonds, $4,400,000 Housing
Bonds and $3,000,000 Storm Sewer Improvement Bonds of The
City of Miami, Florida, dated August 1, 1981, the publica-
tion of which Notice of Sale on said date is hereby ratified
and approved.
(b) At 11 o'clock A.M., the hour stated in said
Notice of Sale, bidding was closed and the following bids
were found to have been filed and to accord in all respects
with the terms.of said Notice of Sale, each bid being accom-
panied by a certified or bank cashier's or treasurer's
check, drawn on an incorporated bank or trust company,
in the amount of $183,000 payable unconditionally to the
order of The City of Miami, Florida:
=f1C COMMISSION
MEETING OF
JUL2 31981
81 -6
MUMN ft......................
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�.) Bid Of CHASE MANHATTAN BANK, N.A.
offering to pay par and accrued interest for each
of said three bond issues and a premium of $ 97,540.80
for all said bonds, and naming the interest rates
set forth below in Column (1) of the tabulation
headed "INTEREST RATES NAMED IN BIDS".
(2) Bid of CITIBANK, N.A.
offering to pay par and accrued interest for each
of the three bond issues and a premium of $ 371,852.00
for all of said bonds and naming the interest
rates set forth below in Column (2) of the tabula-
tion headed "INTEREST RATES NAMED IN BIDS".
(3) Bid Of BACHE, HALSEY, STUART, SHIELDS, INC.
offering to pay par and accrued interest for each
of the three bond issues and a premium of $ -0-
,'_-or all of said bonds and naming the interest
rates set forth below in Column (3) of the tabula-
tion headed "INTEREST RATES NAMED IN BIDS".
( 4 ) Bid of
offering to pay par and accrued interest for each
of the three bond issues and a premium of $
for all of said bonds and naming the interest
rates set forth below in Column (4) of the tabula-
tion headed "INTEREST RATES NAMED IN BIDS".
(5) Bid of
offering to pay par and accrued interest for each
of the three bond issues and a premium of $
-210 .
August
of the
1 Amount of
Year Bonds
Column
(1)
Column
(2)
Column
(3)
Column
(4)
Column
(5)
1983
$255, 000
8.75
%
9.00%
13.00%
%
%
1984
2600000
9.00
%
9.20%
13.00%
%
%
1985
265, 000
9.25
%
9.40%
13.00%
%
%
1986
270,000
30.00
%
9.60%
13.00%
%
%
1987
275,000
30.00
$
9.80%
13.00%
%
%
1988
295, 000
30.00
$
10.00%
13.00%
%
%
1989
300,000
30.00
$
10.20%
13.00%
%
%
1990
310,000
30.00
g
10.30%
13.00%
%
%
1991
315,000
30.00
$
10.50%
13.00%
%
%
1992
330,000
30.00
%
10.60%
10.50%
%
%
1993
380,000
30.00
%
10.80$
10.60%
%
%
1994
390,000
11.25
%
25.00$
10.70%
%
%
1995
400,000
11.40
%
25.00%
10.8096
%
%
1996
405,000
11.50
%
25.00%
11.00%
%
% -
1997
415,000
11.70
%
11.20%
11.00%
%
%
1998
460,000
11.75
11.75
%
11.30%
11:40%
11.10%
11.2096
%
%
1999
475,000
$
%
%
2000
490,000
11.75
%
11.50%
11.25%
%
%
2001
505,000
.05
%
11.60%
11.30%
%
%
2002
160,000
.05
%
11.70%
11.30%
%
%
2003
210,000
.05
%
11.80%
11.40%
%
%
2004
210,000
.05
%
11.90%
11.40%
%
%
2005
210,000
.05
%
11.90%
11.40%
%
%
2006
210,000
•05
%
12.00%
11.40%
%
%
2007
210,000
•05
%
12.00%
11.40%
%
%
2008
265,000
•05
%
12.00%
11.40%
%
%
2009
265,000
.05
%
12.00%
11.40%
%
%
2010
300,000
.05
%
.05%
11.40%
$
$
2011
315,000
.05
%
.05%
11.40%
$
$
Section 2. The bid offering to purchase said bonds at
the lowest "true or Canadian" interest cost to the City,
determined in accordance with the Notice of Sale, is that of
10.8307 for the Managers (herein called the "Purchaser") ,
offering to pay $9,150,000, being par for each of the three
bond issues, plus a premium of $ 97,540.80 for all of said
bonds, and accrued interest on the bonds from August 1, 1981
8-1-698
id bonds the
to the Mete of'their delivery, and naming for sa �a
interest rates set forth in Column (1) of the tabulation in=
e
Section 1 above captioned "INTEREST RATES NAMED IN BIDS".
Section 3. Said bid of the Purchaser is hereby
accepted and said $1,750,000 Fire Fighting, Fire Prevention
and Rescue Facilities Bonds, $4,400,000 Housing Bonds and =
$3,000,000 Storm Sewer Improvement Bonds of The City of
Miami are hereby awarded to the Purchaser at the price set
forth in Section 2 above offered for said bonds bearing
interest at the rates set forth in Column (1) of the tabula-
tion in Section 1 above, and said bonds shall be issued
bearing interest at said rates.
Section 4. This resolution shall be in full force
and effect immediately upon its passage. F
PASSED AND ADOPTED THIS 23rd day of July, 1981.
Maurice A. Ferre
M A Y O R
ATTEST:
40
RA H �GjONGIECITY CLRK
PREPARE' AND APPROVED BY:
-4-
S:
61-.6 88 .
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