75-18
RESOLUTION
No, 75 - 18
RESOLUTION AWARDING $5, 100, 000 BRIDGE REVENUE
AND UTILITIES SERVICES TAXES BONDS, DATED JUNE
r 1, 1974, OF THE CITY OF CLEARWATER, FLORIDA
WHEREAS, pursuant to notice heretofore duly published for the snle
of $5, 100, 000 Bridge Revenue and Utilities Services Taxes Bonds, dated June
1, 1974 (hereinafter referred to as "Bonds"), the following sealed proposals
have been received:
The proposal of Halsey, Stuart & Co, Inc. offering to pay the sum of
,
five Million Twenty-Six Thousand Five Hundred Sixty Dollars ($5, OZ6, 560, 00)"
together with accrued interest from December 1, 1974 to the date of delivery
thereof, for said Bonds bearing interest at the rate of seven and five tenths
per r_enturn (7, 5001o) per annum on the Bonds maturing in the years 1975 to
1991, inclusive; at the rate of seven per centum (716) per annum on the Bonds
maturing in the years 1992 to 1996, inclusive; and at the rate of five and
eeventy-five hundredths per centurn (5. 75%) per annum on the Bonds maturing
in the years 1997 and 1998, inclusive, being a net interest cost of
$5, 935. 127.50.
The Proposal of Salomon Brothers and Associates offering to pay the
sum, of Five Million Twenty-Five Thousand Three Hundred Thirty-Three
and 75/100 Dollars ($5, 025, 333, 75), together with accrued interest from
December 1, 1974 to the date of delivery thereof, for said Bonds bearing
interest at the rate of seven and five tenths per centurn (7. 5016) per annum on
the Bonds maturing in the years 1975 to 1983, inclusive; at the rate of
six and eight tenths per centurn (6. 80°16) per annum on the Bonds maturing in
the year 1984; at the rate of six and two tenths per centurn (6. 20116) per annum
on the Bonds maturing in the year 1985; at the rate of six and three tenths per
centum (6':3{1%) per annum on the Bonds maturing in the year 1986; at the
Res o. 4 7'S-18 1-22-75
„y
!4„ s'!3 F.5'x4•r 2. .rN'.•-;. .ter:.. ,S'l: .?,:; _,:,°`.. a'r'.'..? .. ?.
'? •,??.N ?{:i .tt?'Y, 4. s'i'r, '??' 77
;?±°'!`$`??,`i;*.`-:r.3?'tf a?'?:?S,.ar.,?',?'?Yr?•`3?. '?Ai'it,+,??.X' ;?sc}',.cas?K4:.L'1?4':?-"'?,`^'sY.??`F:+; 1r.ar,?? j.yA
?l.+r.??'ti?ry±,•,l?x;,,..rr'> .. ??}' "r: x' -?.,t;x?"'.is'?'y?i r?•.r~ .•rk;KY^.?:>.'°?t•+:=s?rr..•.•{ry?n;:;•L,"?_?lY?,"t4'?ir',?.?.g?..w?a.,tiA..?.?M
I:. I,k;r;tji?•
'Y..?1G ? ..?•'S. .?_, 1r° •i ?'' •ifi;•?j!1.•l?';?•.':;.t%Yas?l'f, :? .J ice. I:?L?ry."'?'$,'-.F:'? ?.'?; ;':1? ?y.' "?' ?' 'rs
..? ..sy .?k;.A is •;• ; •, r,. +, ,.s ;?.r; ?y F er.. ?, .{j?f°'+ . ! -?.'3.5.. ?_+Q,'y:°4t`;' ?w? 'FX??'
kk .}y:; ` ..?i',Si.;?t' ;4'= ;.t'.?+.? ` -'"r•y rr += F a" s.r • .:rf. t• <.? .', • .M! h'i'ss 1i!1
14
0
i
i
`A 9 1!
AM
y f!+?`' " ? "z?,<i ? :•,?••.',"°ti:'?;? 7?....?rt,! >. z' .. I. . ' ..:t: • e r• ?. •-•:.. a??. y z u
?i .??xt" 4 ?r,?.l'3'_ ?' ! e. s y,r` ? r•'i ,1.,;•?,r,a•<• "k %...I. !. ? f(y?y ,^• i s7• P-;h•, ??-t4? Y:?uc.
f.n •+.1?''?•• " ? ?' ,a } r(2'' • 'r5 l? ,i ?+''' ?, ?' ,'??•`r r?"+?'7 k • ? ?'C??'???I'„1 t!
.a.c ,i ?K???`.r?fl?J?"4:.'?:iri Sr'' *i47't .f?'+r,^,'w'f4 '1<F `.? 'S''+,i'•),'F .. K^y'f;'X=•1`?y??.•,-!`?'1 Fw?'+??
????ti .?! 4, .{_'.;'' _ L•' .,.4p ';v,:• rr..i ?C F` 3r'? v ? t1'; t f.;i..:' '?/
iI" kt 4i x R? F ?f?.:f ,,,% - :? r• Y=''i??• +"?'t?i?5? <... s?"]'?„??..tiai'?.
? ? ?-' ? ?"4' r`r;?` 5:??-° ? '?;?i ?.?`, r << s..?4 Y l ,?s, .? !.'s` d•. '? R r-.?Z??s??.•=rs •,i?_,
• « 4k?' ?yJ?.Y K. y1g3 cl.. f„rss; 1'.::t;..V.?• R, ?}???'. E... .. x':` L7 +'y{;,r c s. .. .y4..
? .a:•. ct, 4. Y ? .r' f,°, 'el_d:, 'L?'•` 1' ?v ? ?.r.T' `'F r.
+r• A R ?, h t •!`t. .n, ?•: C•-.»?_ ...5' ,:, 6v. :i. rd ;+a.= ?s?54'?°'?:'K !',3•., :?'?:,?.:?'r. S'; ?, ?.:v:?F'r''
Y?- '.+t".?''n' 774aiT.
;J ' S 2 n. t r ? 5 PS ,'°J r Ir $ -? ??h'^ e.. ?"? ?,RA?I? !'I(-• "d. fP
t??`'4i'?:???:. ,??.. • ?? s ` s.,?r .°, .. .. ., ?? _,', r.' ?' ., ff b??£;'.zi? F.a ??1?.-. 1'
.t 4 ? .} L i '. a` e. .'a{. ?'.5.: ?". ?: .f ;', .°.. :'4.,.? i•»:os rt+:.i?. }•,.
:?! yti'? i t 1^3yF ?i 'r{.?.:?.r .\? ?•` ? ' ?'3"..P.? r, > ,?. .•5.??.:•° '43 k.:..r. 'i:?S` I
! ''r? G l?sX ,,r ii:. .t'r :'l i'`. t:? .!'c ??«•;LS F° ;•. :# s. rt5: t,'H.
ti.R tS?"? .3n+.v?3'.t ?d._ }'"s"?': S•. +!`, :::•i.?,.??`,v?4t,1.. ?o :.',?=r.:. "•i :r; '?,'? tu•:t:, hi:" si.e h`?
r2 '33''x! r "s. ?? d ? ,ry,, xfl?Sf1 ?'3?Y S'i? '> `} `t a.e ,t.\"?`? :.i }?1'._'?? , ;?,?l,Y': • ?'?i 4 {«:?'..?.a•'?"Fx•
?tSS--'i;. ,? (r' 4.R 3a??,-' ?r" »ti. ',• •. .. y. .', •r'T,'!•:.ri•?'`.?s??'rn:l`•"?5•
4 VF ? fT? ' f:' . Y:Y 1. '.;'. ":rtV" r?,Y ., '..%'` .,t,, .. .,,¢e• ?:i ?•}. ss ^.r...
(? c 4?yy ??'tY3 t to .°z ?{r .i`; r• t° s' t•.':' `t ?i •:;si,. _:; ,t. ?.?.'t ?..?; ir.%aY? ^
+'?T? ?F?,?wP >y vi,i'? •?.?'j...2, .??.`? ?rl:%?, shy .t..?•:,:. ??f ., .',t ,?~I•e. t"'". 5',Y; ,, '.a.:Ly,r.
.?t? ' y. ?C' .i!•?,3.` «s? +' •?i y' ?',°n. y?'!y .•'k^??°,, L''.
s`?'A *f•`k?'Y n? r. t?''a?!• 1"
755
:?? ?' 1. Fi'! •',}'.3t' ry>'°.'!'< <.&?, ,a"? ,?;?" •e; r. '"??':.' t„'S,`:'??1?'?t?? At' .: 'ti`
.. a n
rate of six and five tenths per centum (6. 5076) per annum on the Bonds maturing
in the year 1987; at the rate of six and six tenths per centum (6, 6076) per annum
on the Bonds maturing in the year 1988; at the rate of six and seventy-five
hundredths per centum (6.75%) per annum on the Bonds maturing in the year
. 1989; at the rate of six and nine tenths per centum (6. 90%) per annum on the
Bonds maturing in the year 1990; at the rate of seven per centum (7%) per
I A'
.,
?,A annum on the Bonds maturing in the year 1991; at the rate of seven and two
tenths per centum (7. 20%a) per annum on the Bonds maturing in the year 1992;
W at the rate of seven and twenty-five hundredths per centum (7. 25016) per annum
on the Bonds maturing in the year 1993; at the rate of seven and three tenths
per centum (7. 30%a) per annum on the Bonds maturing in the years 1994 and
1995; at the rate of seven and three hundred seventy-five thousandths per
centum (7. 3757a) per annum on the Bonds maturing in the years 1996 and 1997;
and at the rate of sixper centum (6%) per annum on the Bonds maturing in the
year 1998, being a net interest cost of $6, 110, 847. 50,
The proposal of William R. Hough Co, and Associates offering to pay
the sum of Five Million Twenty-Five Thousand Dollars ($5, OZ5, 000), together
with accrued interest from December 1, 1974 to the date of delivery thereof,
for said Bonds bearing interest at the rate of seven and five tenths per centum
(7. 576) per annum on the Bonds maturing in the years 1975 to 1983, inclusive;
at the rate of six and seventy-five hundredths per centum (6.75%) per annum
on the Bonds maturing in the year 1984; at the rate of six per centum (6%)
per annum on the Bonds maturing in the year 1985; at the rate of six and
fifteen hundredths per centum (6. 15016) per annum on the Bonds maturing in
the year 1986; at the rate of six and three tenths per centum (6. 301o) per annum
on the Bonds maturing in the year 1987; at the rate of six and forty-five
hundredths per centum (6.45%) per annum on the Bonds maturing in the year
1988; at the rate of six and six tenths per centum (6.60%) per annum on the
Bonds maturing in the year 1989; at the rate of six and seventy-five hundredths
per centum (6. 75%a) per annum on the Bonds maturing in the year 1990; at the
Reaso.,. 075-18 .
y*r :? Ta 1".f •?. At : t,.-;r .., F,. .i.' , •::a
f! s rrT;': i? •d '+r . 3 fy?°' }S :».?' .:'T :?_•-.'? t+.i;
}i;.?ls+?ikj.'i ???'S; {?`{: ;:t:?!.ti.. 4a.; t '•?s: ,Y`1?:.', .. ... ... ! ? ,.
r'? . •? ,
i?Ji. (n I
-Z-
1-22-75
--? ?,???y?ts^C+•S•»,a;'? 3 •%:,?'.S. a*s4F"?w 7N '--h? r1; ? ?`'1! t. x h?.y,-t* ? r.'ot„""r};.y+at-'rC?,t +r-.- - '.'?,'°r,.--,rya... 7,:+•; +"`,.,..k ?,.
-!"?'y=,•r`7'!''t,+I. a} .. =?7 :,k}"f,, Z`." 5? Vii';• . ?,.. ^ `."i.°.j" ,+yi-...' S.r„{ . k ?'C .,{; :, }•.•.'i .. { , tiF'°'
'.? . - N", !.' ,t' ; .r ?, . C t:'': ? } .. ?:. •'
??. ??n-.) . ?•e ''a I - ' i 5°< ? ' :i:.>? ' ?it, ' yr};.6:;:`"??, "r.?,-:;:r ,. s -r?.;:.S ?N: a?£ .
.t; 4?•ti '?',.•iT r ? R,j'? " .. .ti... Y'D ..?': t ?,,.?., jY s, ? •... .. ? {„ - ?•??z :F'n
.? ?Fxt • ?r ?w'5:? •',r,'.''•{. `' .,s, 1.. , a?.' I}'s'?taC•F• is ?"1 ?55? ?''?+''+.`?°?"mot."'?'??'<,°,ti S. ?3.'1?.'y' ?t; ?'z
.s3:?•?c„"?`,'? i.t ? ? .? •s': ? ?. t . '.P•;'i? : ":.r;'' 'T: s,•+. ?; .s. ?t j ?i e • tsq i ,?Y ?'
?T?'? 1 #'r<,"?,.? 5...= ' It • ti is r} ; ate: ?.;? ?'? ?, ? ?'"'{t..??, f????$?t?
. Y i??.f'??'?;h".. , .i? .f .r,?a? j'!n 1'. J? :ii r?.. h.' ?r, L.; c '3 t??'• ?' ?"r'IrR°
Sri ?o+!-.,ij' z?!•e. •??"' ;'. ? "?, ? ` ?' 1 }a y 1,... i
r? ,;. 4H?.•, a*j.' 4 .i .jt?'r f.? s.,; ?.3?t.f' S
S '?J,1t 'rya ?1 .`y#'?: .? ''? +„ti ..r.'°. ;.s. ?,,,?.,a.•? S• ?3? `1 tz 1 ?.: $1:,• "i 1`k:.t.`. y?r
d5 ?["`,, ,'c ;;d+.?i?+?l::.s.°t ? {r:'tS e.:3.: =.?' t sti?'' ?t', ril~`??`? ^:"i'.??..E':. ,??,#a?.e :?l:s'?•Y. ?.;.^i,,.
?p P 'S tir??^45n?,i?`'3y.?,°,?ES }w=`S-?. i' `?° ,iii" •"''..'fie ?nt{''? .i:?.: ?:??'`.M:, .S 3•?'?r. ?t•'' S? ?' ;Ll?.s, ".r - •;PS,?.•«il,r...? ,
.}? 1. ! :7.' ,.',`:'?1? st q,l?5•5v1?'}{' t z;r?J,Z{ ??:. , t:.?k,'' ),j„,`ti 'F'^S "t+''•. ?§ 4''- ..? Y+?,
e, f.?}k'?. !].1. S SF? ?"• ? il?.. '?7?r. ,. .t_... L'. .C. ? i}:..mo`t'. r!"' .Y ' ... .... e:*Y. f ?•'.?'?:.$ie 4'?i?•.avyy ji?i ?:. 2"::':is+`ff.i'
.1,w':?;."•r{``••"t??"' ',`.,.s',C.^.-;??•???"?.????sq:?i"r.^?i't'?'S?ti:??j??';:,%„}¢.:.. •`?`?ry?
r>y'A".{;1J..?', ? ?`"?'',. J.y?, ?`: ;8ir r+'F';, :f.'.:,? :pdSi.if'•°df?~f.
?`4','i'.r a;ti ,?, t•r?'?; 6:'; ;.. .?+??.5.,-;??: z'°" ,:'4t:«•": 5:E'gfXsF?:'t?
?V'.?i?,"i.?'e.,J ??i ?r.: ?i?1,L,.?i?? ? .'1 ?!???•Yu?fP,,,''?••T?,?, r.`'`e ,a''
:. {:?'?f`s '1: e1.:'.?t. ,,,. tlt ,ti!«. ty;,,? :-..i: r'.'>t;..?,Y '.,:j;•. ,}.,..
i rate of nix and nine tenths per cantum (6.90%) per annum on the Bonds maturing
in the year 1991; at the rate of seven per cantum (7%) per annum on the Bonds
maturing in the years 1992 and 1993; at the rate of seven and one tenth per
centum (7. 107o) per annum on the Bonds maturing in the year 1994; at the rate
of seven and two tenths per centum (7. 20%6) per annum on the Bonds maturing
F' in the year 1995; -at the rate of seven and twenty-five hundredths per centum ..
4 (7, 257a) per annum on the Bonds maturing in the years 1996 and 1997; and
at the rate of five and seventy-five hundredths per centum (5.75%6) per annum
t on the Bonds maturing in the year 1998, being a net interest cost of $5, 975, 687. 50.
The proposal of John Nuveen & Co, , Incorporated & Associates
offering to pay the sum of Five Million Twenty-Five Thousand Four Hundred
Sixty-Six Dollars ($5, 025, 466.00), together with accrued interest from
December 1, 1974 to the date of delivery thereof, for said Bonds bearing interest
at the rate of seven and five tenths per centum (7.50%) per annum on the Bonds
maturing in the years 1975 to 1983, inclusive; at the rate of six and six tenths
per centum (6. 60%6) per annum on the Bonds maturing in the year 1984; at the
rate of five and seventy-five hundredths per centum (5.7570) per annum on the
Bonds maturing in the year 1985; at the rate of five and nine tenths per centum
(5.90%) per annum on the Bonds maturing in the year 1986; at the rate of six
per conturn (6%6) per annum on the Bonds maturing in the year 1987; at the
rate of six and two tenths per centum (6, 20%) per annum on the Bonds maturing
in the year 1988; at the rate of six and four tenths per centum (6. 40%) per
annum on the Bonds maturing in the year 1989; at the rate of six and six tenths
per centuni (6. 60%) per annum on the Bonds maturing in the year 1990; at the
rate of six and seven tenths per centum (6.707a) per annum on the Bonds maturing
in the year 1991; at the rate of six and eight tenths per centum. (6. 8076) per
annurn on the Bonds maturing in the year 1992; at the rate of six and nine tenths
per centum (6, 9001b) per annum on the Bonds maturing in the year 1993; and at
the rate of seven per centum (776) per annum on the Bonds maturing in the years
1994 to 1998, inclusive, being a net interest cost of $5, 967, 08'4.00; and
-3-
Reso.•075-18
t. ,
1-22-75
F
s
'•arx?l`a?„?!5's°Yt•iS""?!i°?k;!'?'.S?'?'7i?!Sr,.;p.?eak.'..?.r..,; 4r.?,?ra•?.rr
?•aat ,..uf,3..«G,_ a?r;r'_r i..r:r=:3ii::'3Y'::_°- is- - , _ 4 c.- .a31??r?'"=?,•?
c>
WHEREAS, the proposal of Halsey, Stuart & Co, Inc. referred to in the
preambles hereof, is the highest and most advantageous bid for said Bonds
and in all other respects complies with said notice of sale;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA,
IN SESSION REGULARLY AND DULY ASSEMBLED, AS
FOLLOWS:
%1. That the proposal of Halsey, Stuart & Co. Inc. referred to in the
preambles hereof, be and the same is hereby accepted and the following
described Bonds of the City be and they are hereby awarded and sold to said
purchaser referred to in the preambles hereof at the price and in accordance
with the proposal of said purchaser:
{ $5,100,00 - BRIDGE REVENUE AND UTILITIES
SERVICES TAXES BONDS, dated
' June 1, 1974, in the denomination
of $5, 000 each, bearing interest at
the rates per annum (payable June 1
and December 1 of each year) and maturing
on December 1 in the years and amounts
as follows:
Year Amount hate
19755 $ 50,000 7.50%6
1976 100,000 7.50%
1977 100,000 7.50%
1978 100,000 7.5076
1979 100,000 7.50016
1980 100,000 7.50%6
1981 100,000 7.50176
'198Z 100,000 7.5076
1983 100, 000 7.50%6
1984 100,000 7.50016
1985 100,000 7.5076
1986 100,000 7.50%
1987 100,000 7.5076
1988 100,000 7.507o
1989 100,000 7.50%
1990 250,000 7.50%6
1991 425, 000 7.50016
1992 4Z5, 000 7.00%
1993 425, 000 7.00%
1994 425,000 7.000/6
1995 425,000 7.00%
1996 425,000 7.00%a
1997 425,000 5.75%
1998 425, 000 5.7511/6
? ..4. '
}':? ?:•,:,;_ Rego`. ?E75-18, . '
:r
:,:fir.'-'':?: _•• ,,,:•, _. .
u a 41ii? .y. ` )
Y_rf f.Yt''+.i}.'. ?4l. :'f?,: 1 fit' ,!'•
. rl• ti'j'. ?' F ! :;,.
x"11 N.E s?' 'A?"0 :
.?
.1'
. .. r
r E ,
,
r' f
-
y
r!,!1 'sS !. ? s.! s.
..
'4
.?!YY `?qs.r ^"
? !
f
t
o.4,i I?` 5 .
k
2. That the proper officers of thy: City be and they are hereby
authorized and directed to execute said Bonds when prepared and to deliver
the same to said purchaser upon payment of the purchase price in accordance
with the conditions stated in said notice of sale, without further authority from
this Commission.
3. That the City Clerk be and he is hereby authorized and directed to
return forthwith the good faith checks of all unsuccessful bidders.
4. That this resolution shall take effect immediately,
PASSED AND ADOPTED this ZZnd day of Ja
.peary, A. D. 1975.
Ma
Atte s
lerk
,r
t , ,
?
;
?
•
-
?
?
?
<
?
? ?
`
;
' ?
? ?
'
-
.:
.
?,
, ;?:
fir
.
, f
e E
:
,
r,07.5- 18 ' `5 . ..
1-'22-75
.
.
1+I
fi
+'
4' ? ?
:}
?
`
'
??? ' ? ?
r•
'
,:
.u
j }?
r
..
,
? f`
;1;I:. .
:?
,F-r,:' f
':+
°• `
'Sf