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HomeMy WebLinkAboutR-78-0701RESOLUTION NO. 7 - 0 1 A RESOLUTION AWARDING $6,000,000 SANITARY SEWER SYSTEM BONDS, $5,000,000 STREET AND HIGHWAY IMPROVEMENT BONDS, $2,250,000 FIRE FIGHTING, FIRE PREVENTION AND RESCUE FACILITIES BONDS AND $5,000,000 STORM SEWER IMPROVEMENT BONDS OF THE CITY OF MIAMI, FLORIDA, AND SETTING FORTH THE RATES OF INTEREST AND OTHER DETAILS RESPECTING SUCH BONDS SE IT RESOLVED BY THE COMMISSION OF THE CITY OP MIAMI'` rLORIDA : Section 1. The Commission has ascertained and determined and does hereby declare that: (a) In accordance with the provisions of Resolution No. 78-660 duly passed and adopted by the Commission on October 24, 1978, a Notice of Sale was published on October 26, 1978, by the Director of Finance calling for sealed bids to be received until 11 o'clock A.M., Miami Time, November 9, 1978 for $6,000,000 Sanitary Sewer System Bonds, $5,000,000 Street and Highway Improvement Bonds, $2,250,000 Fire Fighting, Fire Prevention and Rescue Facilities Bonds and $5,000,000 Storm Sewer Improvement Bonds, of the City of Miami, dated December 1, the publication of which Notice of Sale on said date is "DOCUMENT4IDEX rr hereby ratified and approved. (b) At 11 o'clock A.M., the hour statIg"iMM rna-id t N ice f 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 accompanied by a certified or bank cashier's or treasurer's check, drawn on an incorporated bank or trust company in the amount of $365,000, payable unconditionally to the order of The City of Miami, Florida: "SUPPORTIVE DOCUMENTS ,.. FOLLOW" CITY COMMISSION MEETING OF NOV 'I 1970 RFOOLUT10N r40.78 - 7 0 REcs: 1 11111 •• 111111111111im11 . mum ,$dC'he Halsey Stuart shields Incorporated and Associates ffeting to pay par and accrued interest for each of said four bond issues and a premium of $1,825.00for 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., et al., Joint Managers offering to pay par and accrued interest for each of the four bond issues and a premium of $-0- for all of said bonds and naming the interest rates set forth below in Column (2) of the tabulation headed "INTEREST RATES NAMED IN BIDS". Bid of Southeast First National Bank of Miami for the Managers offering to pay par and accrued interest for each of the four bond issues and a premium of $-0- 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". 4) Bid of The Chase Manhattan Bank, N.A., for the Managers offering to pay par and accrued interest for each of the four bond issues and a premium of $10,656.25for all of said bonds and naming the interest rates set forth below in Column (4) of the tabulation headed "INTEREST RATES NAMED IN BIDS". "SUPPORTIVE V O c u 1'!! _ N TS FOLLOW" 78 7 01 M4 M. ME MM mo E • sliNoflera Offering to pay par and accrued interest for each of the four bond issues and a premium of $ N/A 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 December 1 of the Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 Principal Amount of Bonds $ 890,000 895,000 905,000 915,000 925,000 940,000 940,000 955,000 965,000 970,000 910,000 925,000 955,000 970,000 995,000 1,015,000 1,035,000 1,060,000 1,085,000 Interest Rates Columns (1) 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % 6.00 % 5.75 % 5.75 % 5.75 % 5.75 % 5.90 % 5.90 % 6.00 % 6.00 % 6.00 % 6.00 % 4,00 % Columns Columns Columns (2) (3) (4) 7.50% 7.50 % 7.50 % 7.50% 7.50 % 7.50 % 7.50% 7.50 % 7.50 % 7.40% 7.50 % 7.50 % 7.50% 7.50 % 7.50 % 7.50% 7.50 % 7.50 % 7.50% 6.75 % 7.50 % 6.20% 5.60 % 6.80 % 5.60% 5.60 % 5.70 % 5.70% 5.75 % 5.75 % 5. 80 % 5.80 % 5.80 % 5.90% 5.90 % 5.90 % 5.90 % 6.00 % 5.90 % 6.00% 6.00 % 6.00 % 6.00% 6.10 % 6.00 % 6.10% 6.10 % 6.00 % 6.10% 6.20 % 6.00 % 6.10% 6.20 % 6.00 % 3.75% 4.00 % 4,00 % "SUPPORTIVE DOCUMENT;38 7 0 FOLLOW" Columns (5) None None % None % None % None % None % None % None % None % None % None % None % None % None % None % None % None % None % None Section 2. The bid offering to putchasg 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 December 1, 1978 until their respective maturities, was the bid of Bache Halsey Stuart Shields Incorporated and Associates (herein called the "Purchaser") offering to pay $18,250,000, being par for each of the four bond issues, plus a premium of $ 1,825.00for all of said bonds, and accrued interest on the bonds from December 1, 1978 to the date of their delivery, and naming for said bonds the interest rates set forth in Column (1) of the tabulation in Section 1 above captioned "INTEREST RATES NAMED IN BIDS". Section 3. Said bid of the Purchaser is hereby accepted and said $6,000,000 Sanitary Sewer System Bonds, $5,000,000 Street and Highway Improvement Bonds, $2,250,000 Fire Fighting, Fire Prevention and Rescue Facilities Bonds and $5,000,000 Sanitary Sewer 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 tabulation in Section 1 above, and said bonds shall be issued bearing interest at said rates. Section 5. That this resolution shall be in full force and effect immediately upon its passage. tcc) ! n r+.• Fr.. v• . OP a. Lit./+.1 •iii.��'i i �j F V'J u•1ii iiiiui IE RESOLUTION NO. s . 1 A RESOLUTION AWARDING $6,000,000 SANITARY SEWER SYSTEM BONDS, $5,000,000 STREET AND HIGHWAY IMPROVEMENT BONDS, $2,250,000 FIRE FIGHTING, FIRE PREVENTION AND RESCUE FACILITIES BONDS AND $5,000,000 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 and does hereby declare that: (a) In accordance with the provisions of Resolution No. 78-660 duly passed and adopted by the Commission on October 24, 1978, a Notice of Sale was published on October 26, 1978, by the Director of Finance calling for sealed bids to be received until 11 o'clock A.M., Miami Time, November 9, 1978 for $6,000,000 Sanitary Sewer System Bonds, $5,000,000 Street and Highway Improvement Bonds, $2,250,000 Fire Fighting, Fire Prevention and Rescue Facilities Bonds and $5,000,000 Storm Sewer Improvement Bonds, of the City of Miami, dated December 1, the publication of which Notice of Sale on said date is hereby ratified and approved. `DOCUMENT 1 DEX (b) At 11 o'clock A.M., the hour sta atil"'N61:l e f 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 accompanied by a certified or bank cashier's or treasurer's check, drawn on an incorporated bank or trust company in the amount of $365,000, payable unconditionally to the order of The City of Miami, Florida: "SUPPORTIVE DOCUMEN-fS . FOLLOW" CITY COMMISSION MEETING OF NOV) 1978 L„,oNNO78-70 1 Itin11IIIIII11111111■11111I iii nii■m iiai■I1mm imoi I!IH i PAS8tb AMb AbbPTEb €hth 9th clay of IVovember, 1 Y8 HAURICE A, FtRRE RAL H G.''ONGIE CIT CLERK PREPARED AND APPROVED BY: ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: EORG CITY "SUPPORTIVE DOCUMENTS FOLLOW" -7 01 RESOLUTION NO. 8' 8 - 7 0 1 A RESOLUTION AWARDING $6,000,000 SANITARY SEWER SYSTEM BONDS, $5,000,000 STREET AND HIGHWAY IMPROVEMENT BONDS, $2,250,000 FIRE FIGHTING, FIRE PREVENTION AND RESCUE FACILITIES BONDS AND $5,000,000 STORM SEWER IMPROVEMENT BONDS OF THE CITY OF MIAMI, FLORIDA, AND SETTING FORTH THE RATES OF INTEREST AND OTHER DETAILS RESPECTING SUCH BONDS SE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI ►' FLORIDA: Section 1. The Commission has ascertained and determined and does hereby declare that: (a) In accordance with the provisions of Resolution No. 78-660 duly passed and adopted by the Commission on October 24, 1978, a Notice of Sale was published on October 26, 1978, by the Director of Finance calling for sealed bids to be received until 11 o'clock A.M., Miami Time, November 9, 1978 for $6,000,000 Sanitary Sewer System Bonds, $5,000,000 Street and Highway Improvement Bonds, $2,250,000 Fire Fighting, Fire Prevention and Rescue Facilities Bonds and $5,000,000 Storm Sewer Improvement Bonds, of the City of Miami, dated December 1, the publication of which Notice of Sale on said date is hereby ratified and approved. "DOCUMENT I DEX " (b) At 11 o'clock A.M., the hour sta��g Nk aid tvb ice 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 accompanied by a certified or bank cashier's or treasurer's check, drawn on an incorporated bank or trust company in the amount of $365,000, payable unconditionally to the order of The City of Miami, Florida: "SUPPORTIVE DOCUMENTS FOLLOW" CITY COMMISSION MEETING OF NOV ') 1978 nes cilium„o 7 8 - 7 0 1 • 11 • • id 6 Bache Halsey Stuart Shields incorporated and Associates Offering to pay par and accrued interest for each of said four bond issues and a premium of $1,825.00for 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., et al., Joint Managers offering to pay par and accrued interest for each of the four bond issues and a premium of $-0- for all • - - of said bonds and naming the interest rates set forth below in Column (2) of the tabulation headed "INTEREST RATES NAMED IN BIDS". Bid of Southeast First National Bank of Miami for the 'Managers (3) offering to pay par and accrued interest for each of the four bond issues and a premium of $-0- 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". (4) Bid of The Chase Manhattan Bank, N.A., for the Managers offering to pay par and accrued interest for each of , the four bond issues and a premium of $10656.25for all of said bonds and naming the interest rates set forth below in Column (4) of RATES NAMED IN BIDS". the tabulation headed "INTEREST "SUPPORTIVE DOCUMENTS FOLLOw" 7 8 7 01 • MEM MEM MEM MEM MEM l d 6 f ui 1440nd..' Offering to pay par and accrued interest for each of the four bond issues and a premium of $ N/A 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 . Principal December 1 Amount of Columns Columns Columns Columns Columns of the Year Bonds (1) (2) (3) (4) (5) Interest Rates 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 $ 890,000 895,000 90 5, 000 915,000 925,000 940,000 940, 000 955, 000 965,000 970, 000 910,000 925,000 955,000 970,000 995, 000 1,015,000 1,035,000 1,060,000 1,085,000 7.50 % 7.50% 7.50 % 7.50% 7.50 % 7.50% 7.50 % 7.40% 7.50 % 7.50% 7.50 % 7.50% 7.50 % 7.50% 6.00 % 6.20% 5.75 % 5.60% 5.75 % 5.70% 5.75 % 5.80% 5.75 % 5.90% 5.90 % 5.90% 5.90 % 6.00 % 6.00 % 6.00% 6.00 % 6.10% 6.00 % 6.10% 6.00 % 6.10% 4.00 % 3.75% 7.50 % 7.50 % None % 7.50 % 7.50 % None % 7.50 % 7.50 % None % 7.50 % 7.50 % None % 7.50 % 7.50 % None % 7.50 % 7.50 % None % 6.75 % 7.50 % None % 5.60 % 6.80 % None % 5.60 % 5.70 % None % 5.75 % 5.75 % None % 5.80 % 5.80 % None % 5.90 % 5.90 % None % 6.00 % 5.90 % None % 6.00 % 6.00 % None % 6.10 % 6.00 % None % 6.10 % 6.00 % None % 6.20 % 6.00 % None % 6.20 % 6.00 % None % 4.00 % 4.00 % None % "SUPPORTIVE DOCUI\sLJ 41 , FOLLOW" 9 to 5 the bid offering urchas said bonds �sctio�► 2. � � the lowest intetest 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 December 1, 1978 until their respective maturities, was the bid of Bache Halsey Stuart Shields Incorporated and Associates (herein called the "Purchaser") offering to pay $18,250,000, being par for each of the four bond issues, plus a premium of $ 1,825.00for all of said bonds, and accrued interest on the bonds from December 1, 1978 to the date of their delivery, and naming for said bonds the interest rates set forth in Column (1) of the tabulation in Section 1 above captioned "INTEREST RATES NAMED IN BIDS". Section 3. Said bid of the Purchaser is hereby accepted and said $6,000,000 Sanitary Sewer System Bonds, $5,000,000 Street and Highway Improvement Bonds, $2,250,000 Fire Fighting Fire Prevention and Rescue Facilities Bonds and $5,000,000 Sanitary Sewer 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 tabulation in Section 1 above, and said bonds shall be issued bearing interest at said rates. Section 5. That this resolution shall be in full force and effect immediately upon its passage. FOLLOW'' 701 J.- .r. .ruLry W`t'itu�i iBH�wfi2f+1R4K+.+Y4L%'t+za+l.'t+avlaM.xFww»a.cwx�....m nc.�cr� PA'gEb AWb Abaittb t i§ ..-_.'01 day of NoVe ttb t p MAU1 tCt A. FERfE ATTS': RAL'I-i G. 'ONGIE CIT CLERK PREPARED AND APPROVED BY: ((/ ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: EORG F. KNOX, JR. CITY TORNEY "SUPPORTIVE DOCUMENTS FOLLOW» 1 IIII11111II111 1111111111I11111111IIIIIIIuii w 19 4 Jocph 1. 4 rtreie ,m: a il! 1, . w 32: F. Gun.iei Sir ?tor of Finn& :wc�2•«z xsacmGdL—; 19 3 �2}9! ® city 13o..141. QA24ale4 £df ' le i ITOVemher 22 12i3 Attached is a r Eoi+tiah) prepared by the (it's hoc& edaalO1, Sic) ill a and to the sw.c.lesfUl bidder the :A1)23 Q'' 0 bat -ids ta be sold O noember 9, 2.1.).7. I c e b©e thc yo:0lation thc w3ef3R Per the 'Ovember ,, 1372 meetit13. Atts h nt (1) ' t. �. ee= G drg l,.v /,