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Home My WebLink AboutR-81-06253 530,000 13 525,000 4 530,000 14 525,000 5 530,000 15 525,000 6 530,000 16 525,000 7 525,000 17 525,000 8 525,000 18 525,000 9 525,000 19 525,000 10 - 525,000 20 525,000 11 525,000 Resolution No. 76-1104, adopted by the City Commission ; V %+a day of December, 1976, providing for the issuance of not exceeding $25,000,000 Housing Bonds to consistCR' f COMMISSION MEETING OF J U L 0 9 %981 NUMU qN o . B.X. - Fi 2 soma . ........ S 1 000 b6ndt of the den6fflihat iott of $ 5 000 eadh; A" b6ndt to be issued at one time or Profit time to time and to be dated and sold as shall hereafter be determined by the City Commission# and to mature as follows! Years After principal p Years After Principal Am U'nt Date or, dates Aitount Date or bates $ 400,000 16 $ 700,000 900,000 400,000 17 18 900,000 4 400,000 19 900;000 5 400000 20 900,000 6 400000 21 900,000 i 500,000 22 1,200,000 $ 500;000 23 1,200,000 � 500,000 24 1;200;000 ,10 500,000 25 1,200,000 11 500,000 26 1,200;000 i2 700,000 700;000 27 1,500,000 13 14 700,000 28 29 1,500,000 1,700,000 15 700,000 30 1,800,000 Resolution No. 78-216► adopted by the City Commission on the 23rd day of March, 1978, providing for the issuance of not exceeding $15,000,000 Storm Sewer Improvement Bonds, to consist of 3,000 bonds of the denomination of $5,000 each, said bonds to be issued at one time or from time to time and to be dated and sold as hereafter provided by resolution or resolutions of the City Commission, and to mature as follows: Years After Principal p Years After Date or Dates Principal Amount Date or Dates Amount 2 $ 445,000 12 $ 795,000 845,000 3 470,000 13 14 895,000 4 500,000 15 945,000 5 530,000 16 1,005,000 6 560,000 595,000 17 1,065,000 7; `� 630,000 18 1,130,000 11195,000 670,000 19 20 1,265,000 19, 710,000 11 750,000 and 2. -62 m the lat day 6f Augudtr 1081 t ghAll Conaiat 6f '" _b6nda df th@ dOnOffijMation of $5006 Who nuitibered 1 to and axia l Mature, subject to redemption at the option of the Cityp in MUfteriCal Order, lowest numbers first, On the 1st day of august n the following leans and in the following amounts, respectively: Year of principal Year of Principal Maturity amount Maturity Amount_ 1983 $ 95,000 1992 $ 90,000 1984 95,000 1991 95,000 1985 95,000 1994 95,000 950000 1986 1987 95,000 95,000 1995 1996 900000 1988 90,000 1997 90,o00 1989 90,000 1998 90,000 90,000 1990 1 91 90,000 90,000 1999 2000 50,000 2001 90,000 Section 2. There shall be issued and sold at this tine said Housing Bonds in the aggregate principal amount of Four Million Four Hundred Thousand Dollars ($4,400,000), being a portion of the $25,000,000 principal amount of such bonds authorized as herein - above described. Said bonds shall be dated as of the 1st day of August, 1981, shall consist of 880 bonds of the denomination $5,000 each, numbered 1 to 880 inclusive, and shall mature, sub- ject to redemption at the option of the City, in numerical order, lowest numbers first, on the 1st day of August in the following years and in the following amounts, respectively: Year of Principal Year of Principal Maturity _ Amount Maturity Amount 1983 $ 70,000 1998 $160,000 1984 70,000 1999 160,000 1985 70,000 2000 160,000 1986 70,000 2001 160,000 1987 70,000 2002 160,000 1988 84,000 2003 210,000 1989 84,000 2004 210,000 1990 84,000 2005 210,000 1991 84,000 2006 210,000 1992 90,000 2007 210,000 1993 125,000 2008 265,000 1994 125,000 2009 265,000 1995 125,000 2010 300,000 1996 125,000 2011 315,000 1997 125,000 r Phis Pightingt maturity pi�eVe�itiot� � eso�ie tol tls S#w@r Total Principal Data Facilities musing lmptovefleiit Bond__... Ai1~otl Au uat 1 Bonds_L6nds . _ 1983 $95,000 70,000 $ 900000 $255,000 260000 1984 1985 95,000 95,000 70000 70,000 95000 100,000 265,000 i9$6 95,000 70,000 70,000 105,000 110000 270,000 275000 1987 1988 95,000 90,000 85,000 120,000 295,000 1989 90,000 85000 85000 125,000 1350000 300,000 310000 1990 199 90,000 90,000 85,000 140,000 315,000 1991 90,000 901000 125,000 150,000 160,000 330,000 380,000 1993 1994 95,000 95,000 125,000 170,000 390,000 1995 95,000 125,000 180,000 190000 400,000 405,000 1996 1997 90000 901000 125,000 125,000 200,000 415,000 1998 900000 160,000 160000 210,000 225,000 460,000 475,000 1999 2000 90,000 90,000 160,000 240,000 490000 2001 90,000 160,000 255,000 505,000 160,000 2002 160,000 210,000 210,000 2003 2004 210,000 210,000 2005 210,000 210,000 210,000 200 6 210,000 210,000 2007210,000 2008 265,000 265,000 265,000 2009 265,000 300,000 300,000 2010 2011 315,000 315,000 Principal of, premium, if any, and interest on the be °othtBank atew Bonds will Chemical payable, Bank, New York, Yerk, oratPan N American , National Association, Miami, Florida. Optional Redemption The Bonds maturing the on or after option August 1, of the City 1998 are sub- on and after ject to August 1, redemption at 1997, in whole on any date, or in part in the in- verse order interest of their maturities payment date, at (by lot within the following any maturity) redemption on any prices, plus accrued interest to the date of redemption: . 0625 5 b1ddora will be returned imffiediately. the dhec�t of the gUCd@§§ful bidder will be dashed and the ptodeeds will be hold as Security tot the perf6tfnance of the bid, and, in the ovent such successful bidder shall fail to comply with the termg of his bid, the proceeds will be retained. the retention of such check will constitute full liquidated damages. If it shall be found impossible to issue and deliver the Bonds, the City will deliver to the successful bidder a certified, bank cashier's or treasurer's check drawn upon a bank or trust company in the City of Miami, Florida, o the order of such bidder, in the payable unconditionally t AMO unt of the check deposited by such bidder with his bid. s, the proceeds of such check of Upon delivery of the Bond the successful bidder will be applied to payment for the Bonds. CUSIP Numbers It is anticipated that CUSIP identification numbers _ will be printed on the Bond, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for a failure or refusal by the purchasers thereof to accept delivery of or pay for the Bands in accordance with the terms of their bid. All expenses in relation to the printing of CUSIP numbers on said Bonds and the CUSIP Service Bureau charge for the assignment of said numbers shall be paid by the City of Miami. Delivery of Bonds Delivery of the Bonds in definitive form will be made on or about August 12, 1981 in New York, New York, against payment therefor in immediately available Federal Reserve Funds to the order of The City of Miami, Florida. The unqualified approving legal opinion of Brown, Wood, Ivey, Mitchell & Petty of New York, New York will be furnished without cost to the purchasers the Bonds. There will also be furnished the aclosing Concurrently with the delivery of the Bonds, the City Manager and the Acting Director of Finance will furnish their certificate to the effect that, to the best of their knowledge, the official Statement, as of its date and as of the date of delivery of the Bonds, did not and does not contain an untrue statement of a material fact or omit to state a material fact which should be included therein for the purpose for which the OffithlStatement is to be statements containedused, or which is necessary to make the therein, in the light of the circumstances under which they were made, not misleading. The successful bidder shall have the right, at its option, to cancel its obligation to purchase the Bonds if the City shall fail to tender the Bonds for delivery within 60 days from the date herein fixed for the receipt of bids, and, in such event, the successful bidder shall be entitled to the return of its deposit mentioned above, with interest. 1�. w62 formed, headed by the undersignea ana consisting or tine rIr115 listed on a separate sheet attached hereto, and in accordance with the terms and conditions of the attached Notice of Sale dated July 10, 1981 which is hereby made a part of this proposal, we offer to purchase all of the $9,150,000 City of Miami, Florida, General Obligation Bonds (consisting of $1,750,000 Fire Fighting, Fire Prevention and Rescue Facilities Bonds, $4,400,000 Housing Bonds and $3,000,000 Storm Sewer Improvement Bonds) to be dated August 1, 1981 and we will pay therefor, at the time of delivery Dollars ($ ), plus accrued interest, if any, from August 1, 1981 to the delivery date of the Bonds. SCHEDULE OF INTEREST RATES The Bonds shall bear interest at the rates set forth in the following schedule: Maturity Date Principal Interest Maturity Date Principal Interest August 1 Amount Rate August 1 Amount Rate 1983 $255,000 % 1997 $415,000 % 1984 260,000 1998 460,000 1985 265,000 1999 475,000 1986 270,000 2000 490,000 1987 275,000 2001 505,000 1�. qjv6 Maturity bate Prifteipal trstdron Maturityy bate Princqipai fmoreat A gat i A uhti date —A tgcia 1988295,000 2002 S160r000 1989 200,000 2002 2i0,000 1990 W,000 2004 2i0,000 1991 315006 2009 2101000 1992 220,000 2006 210000 1992 280,000 2007 210,000 1994 2900000 2008 265000 1995 400000 2009 265rOOO 1996 405,000 2010 300,000 201115#000 We enclose herewith 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 to the order of The City of Miami# Florida# which check is to be applied or returned in accordance with the Notice of Sale. The closing papers referred to in the Notice of Sale are to include a certificate, dated as of the date of the delivery of the bonds, with reference to the Official Statement, as provided therein, and stating that there is no litigation pending or, to the knowledge of the signer of such certificate, threatened affecting the validity of the bonds. Respectfully Submitted, Bidder By Title (No addition or alteration, except as provided above, is to be made to this bid and it must not be detached from the attached Notice of Sale.) 140 4 625 A F AWSL tnt�`1' Of MIAMI. PLIWBA INttg4ppiet tiAtlir ORANCIUM FROM os G� Garda Acting bitectot of n e Wk- June 25, logi iL€: sus�tcfi: ` 9,150,000 tbftd 5dii k��iiirNcr§ i NCLO9URtS. _._.. recommend that a resolution aut:�orizinx notice of sole of This is to r laced on the July 9, 19�i $0,150,000 general obligation bonds be p i sion Agenda. City Comm s plan is involved in the devdl6P- of its capital program The City as part protection projects. The cash housing and fire bonds be sold meat of storm sewers, ds require h generalat obligation flow needs of thesenuthe followingamounts: 1, 1981, i - by August $3,000,000 Storm Sewer Bonds 4,400,000 Housing Bonds 10750,000 Fire Fighting Bonds $9,150,000 These funds will be uses as follows Storm Sewer Bond Fund: $3,130,000 Cash available May 31, 1981 3,000,000 Bond Sale--- Cash available after bond sale 6,130,000 Cash requirements from June '81 5,210,000 thru March 182 Projected cash balance at March $ 920,000 31, 1982 Housing Bond Fund: Loan payable to Capital Improve- (1400,000) ment fund 41400,000 Bond Sale Cash available after bond sale 3,000,000 Contributions to Dade County for _ 3,000,000 housing purposes from June '81 through March 182 Projected cash balance at March 182 - 0 - R .