08/18/1976
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CITY COMMISSION'
SPECIAL SESSION
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Augu.t 18. 1976
Th. City Com.i..ion of the City of'Cl.arwatar .at in
Spacial ....ion at the City Hall. Wadne.day, Augu.t 18, 1976~
at 12100 noon. with the following mamber. pre.antl
Gabriel Cazares
Joseph,Carwise
Karleen F. DeBlaker
Karen Martin
Darwin S. Frank
Kayor-coaai.lioner
Coald,.lioDer
COllai..ioner,
COllllli.siuDer
Commis8:Loner
Alao present were:
Picot B. Ployd
Thomas A. Bustin
Sgt. Desllarais
City Manager
City Attorney
Representin8 Police Chief
The Mayor called the meeting to order and turn.d it o..r,
to the City Manager. The City Manager stated he had received
five sealed bids. It was then 12:05 p.m. by the auditorium
clock. He asked if there were any other, bids <<nd, one va_,
presented from the Barnett Bank of Clearwater at 12:07 p.a.
Upon advice of the City Attorney the bid was rejected.a: the"
Notice of Sale stated sealed bids will be received in the "
Chambers of the City Commission of Clearwater until Tvelve
Noon EDST on Wednesday. August 18. 1916.
The purpose of tbe mee'ting was to receive bids on the
sale of $8,000.000 Utility Revenue Certificates. series of
1975.
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The City Manager read the bids from five firms as fol-
lows:
Offer to Pay
Bache, Ualsey. Stuart, Inc. $7,773,600.00 6.1462%
& Asso.
Average Interest
Cost Rate
Lehman Bros., Inc. 7,773,451.60 6.224367
Merril1,Lynch. Pierce, Fenner 7,772,000.00 6.17158
& Smith. Inc.
Wm. R. Hough & Co. 7.772,000.00 6.06088
Donaldson. Lufkin and Jenrette 7.772.011.04 6.04694
Securities Corp.
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, 1977 thru 1988
1989' tbru 1991
6.5,
6.4
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, (' I', ' 2002 thru' 2004 ,5.5
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IJ ~ ''''-Y . . _I . . ~.. .' 1,'., '.' ." . $, , . , '. -Ie ~.... .. 1'" . ... oil... ''''''.: , ...
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Loo.i. Le.dy, Pinancial Adviaor to the City and the
rinaace Director vere a.ked to tabulete the bid. for accuracy.
Kr. Leedy explained the v4riou. tera. in re.pon.. to the
Kayar'. requeat. Ha atated it va. cueto.ar, for each bidder
to lubait a ca.hier'a check for 2% of the total dollar value
of the bond.. The diacount and the offer to pay are eet in
tha Notiee of Sale.
The meeting rec...ed at 12140 p.m. and reconvened at 1102 p.a.
The City Manager presented the eigned Waiver of Notice
of Keeting to the Clerk for the record.
Mr. Leedy recommended the bid of Dona1dlon, Lufkin and
Jenrette Securities Corp. as the lowest and best bid. Com-
Ml~8toner Frank moved to accept the recommendation of the,
City's Financial Advisor. Commissioner Carwise seconded the
motion which carried unanimously.
Commissioner Martin moved to pass and adopt Resolution
176-89 awarding the bid to Donaldson, Lufkin and Jenrette
Securities Corp. for the sale of $8,000,000 Utility Revenue
Certificates Series of 1975. Commissioner Frank seconded
the motion which carried unanimously.
The Financial Advisor stated that this was an exception-
ally good bid and requested the checks be returned to the un-'
successful bidders.
Heeting adjourned at 1:07 p.m.
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Attest:
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C I T. Y
OF
C LEA R 'V,A T' E R
POST O"irICIE BO)( ..7...
CLEARWATER. FLORIDA
33"'8
PICOT .. 'LOYO
CITY NANAOIl"
'rhe Mombers of the City Commission
of the City of Clearwater:
Mayor - .Commissioner Gabriel Cazares
Commissioner Joseph Carwlse
Commissioner Karleen De Blaker
C,ommissioner Karen Martin
Commissioner Darwin Frank
August 10,1976
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at their usual places of residence,
Clearwater. Florida
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NOTICE OF SPECIAL MEETING
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Ladies and Gentlemen:
Pursuant to Article Z, Section 18 of the Charter of the City of Clearwater,
a Special Meeting is hereby called on Wednesday, August 18, 1976, lZ:OO
Noon, in. the Ci~ Commission Chambers, City Hall, for the purpose of
opening bids on the sale of water and sewer revenue bonds and to award
the sale to the lowest bidder.
.oiot~.+Mt~
~~ot B. F~CMA
City Manager
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