HomeMy WebLinkAboutR-79-0714RESOLUTION NO._7 9 - 7 14
A RESOLUTION AWARDING S3,000,000 SANITARY
SEWER BONDS, $1,750,000 FIRE FIGHTING, FIRE
PREVENTION AND RESCUE FACILITIES BONDS AND
$2,000,000 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 determined
hereby declare that:
with the provisions of Resolution No.
adopted by the Commission on October
of Sale was published on October 18, 1979,
by the Director of Finance calling for sealed bids to be
received until 11 o'clock A.M.
for;$3,000-,000 Sanitary Sewer Bonds, $1,750,000 Fire Fighting,
Fire Prevention and Rescue Facilities Bonds and $2,000,000
Storm Sewer Improvement Bonds, of the City of Miami, dated.
Time, October 30, 1979
November 1, the publication of which Notice of
date
of
found
hereby ratified and approved.
(b) At 11 o'clock A.M., the hour stated in
closed and the following bids were
have been filed and to
accord
the terms of said Notice of Sale
by a certified or bank cashier's
on
$135
000, payable
in all respects with
each bid being accompanied
or treasurer's check, drawn
or trust company in the amount of
unconditionally to the order of The City
of Miami, Florida:`
'DOCUMENT INDEX
ITEM NO.
/I
CITY COMMISSION
MEFANG OF
OCT3 0 1079
mew g-714
•
(1) Bid of Southeast First National Bank of Miami For The Managers
(2)
offering to pay par and accrued interest for each of
said three bond issues and a premium of $ 0.00 for all
said bonds, and naming the interest rates set forth
below in Column (1) of the tabulation headed "INTEREST
RATES NAMED IN BIDS".
Bid of Bankers Trust Company and Associates
offering to pay par and accrued interest fory each of
the three bond issues and a premium of $ 11,299.8/or all
of said bonds and naming the interest rates set forth
below in Column (2) of the tabulation headed "INTEREST
RATES NAMED IN BIDS".
(3) Bid of The Chase Manhattan Bank, N. A.
offering to pay par and accrued interest $
stfor each of
the three bond issues and a premium
o
1,150.00 for all
of said bonds and naming
the interest rates set forth
below in column (3) of the tabulation headed "INTEREST
RATES NAMED IN BIDS".
Bid of Citibank, N. A.
f said bonds a f
and
naming the tabulation headed
RATEShe
NAMED
accrued interest for each'of
the three
offering .
to pay par remiinil of forth
$ for
• . and 7
all
bond issues
e interest
ues and a P rates set
.below in colmrl'(4) 0
BIDS“
7 9 7 1 4
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 (5) of the tabulation headed "INTEREST
RATES NAMED IN BIDS".
INTEREST RATES NAMED IN BIDS
Interest Rates
principal
December 1 Amount of Columns Columns Columns Columns Columns
of the Year Bonds (1) (2) (3) (4)
1981 $315,000 7.25 % 7.5 % 7.5 % 7.5 %
1982 320,000 7.25 % 7.5 % 7.5 % 7.5 %
1983 325,000 7.25 % 7.5 % 7.5 % 7.5 %
1984 325,000 7.25 % 7.5 % 7.5 % 7.5 %
1985 330,000 7.25 $ $ %
1986 330,000
1987 330,000
1988 335,000
1989 340,000
1990 350,000
1991 355,000
1992 360,000
1993 365,000
1994 370,000
1995 995.000
1996 390,000
1997 400,000
1998 410,000
1999 415,000
7.25
7.25
7.25
7.25 %
7.40
7.40 %
7.40
7.40
7.40
7.40
7.40
7.40
7.40
7.40
7.5
7.5
% 7.5
7.5.`
7.5
7.5
7.5% 7.5
7.5 .% 7.5
7.5
7.5
7.5 % 7.5 % 7.5 %
% 7.5
7.5
7.5
7.5
7.5
% 7.5
% 7.5
$ 7.5
7.5
7.5
7.5
7.5
7..5
7.5 %
7.5
7.5
7.5
7.5 %
7.5
7.5
7.5
7.5
7.5
7.5
7.5` $.
7.5
7.5 %
7.5 %
7.5
7.5
79-714
Section 2. The bid offering to purchase said bonds
at the lowest interest cost to the City, such cost being
determined by deducting the total amount of any premium bid
from the aggregate amount of interest upon all of the bonds
from November 1, 1979 until their respective maturities, was
the bid of Southeast First National Bank of Miami for the Managers
(herein called the "Purchaser") offering to pay $6,750,000,'
being par for each of the three bond issues, plus a premium o
$ 0 00 for all of said bonds, and accrued interest
bonds .from November 1, 1979 to the date of their delivery
for said bonds the interest rates set forth in
(1) of the tabulation in Section 1 above captioned
"INTEREST RATES ,NA!IED IN ; BIDS"
Section 3. Said bid of the Purchaser is hereby accepted
000;Sanitary Sewer Bonds, $1,750,000 Fire
Fighting, Fire Prevention and Rescue Facilities Bonds and
$2,000,000 Storm Sewer Improvement Bonds of the City of Miami
are hereby awarded to the Purchaserat the price set forth in
Section 2 above offered for said bonds bearing interest at the
rates set forth in Column.(1) of the tabulation in Section 1
above, and said bonds shall be issued bearing interest at said
rates.
Section 4
and
hat this resolution
effect immediately upon its passage.
1
79-714
PASSED AND ADOPTED this 30th
ATTEST:
RAL H G.NGIE
CIT LERK
PREPARED AND APPROVED BY:
ay of October, 1979.
MAURICE A. FERRE
MAYOR
ASSISTANT ;CITY ATTORNEY .-
APPROVED AS TO FORM AND
CORRECTNESS:
1111P _Ilk Ai Ago&
G • 'GE
CITY A' Si'
KNO
N
JR.
79-714
STATE OF FLORIDA
COUNTY OF DADE
CITY OF MIAMI
RALPH.G. ONGIE, Clerk of the City of Miami,
Florida, and keeper of the records thereof, do hereby
certify that the attached and foregoing pages numbered 1
through 5, inclusive, contain a true and correct copy of
resolution, adopted by the Commission of said Citya
meeting held on the 30th day of October, 1979.
SAID RESOLUTION WAS DESIGNATED RESOLUTION
NO. 79-7.14.
IN WITNESS. WHEREOF, I hereunto set my hand and.
impress the official seal of the City of Miami, Florida,
this,.'30th day of October, 1979.
(Official . Seal)
RALPH G. ONGIE
CITY CLERK
MIAMI, FLORIDA
Deputy City Clerk