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A RESOLUTION OF THE CITY COMMISSION
OF THE CITY OF CLEARWATER, FlORIDA,
.rt rl r >_ ', ,fr {? AWARDING $630,000 UTILITY REVENUE
CERTIFICATES, SERIES OF 1959•
59 -86
WHEREAS, pursuant to notice heretofore duly published for the
sale of Utility Revenue Certificates, Series of 1959, dated August 1,
1959, the following sealed proposals have been received:
The proposal of KIDDER, PEABODY & CO., offering to pay the
sum of Six Hundred Eleven Thousand, One Hundred One and no/100 Dollars
($611,101.00), together with accrued interest from the date of said
' Certificates to the date of delivery thereof, for said Certificates
bearing interest at the rate of four and one-quarter per centum (44%)
tie°?r. 3, per annum, on the Certificates maturing in the ears 1961 to 1976, in-
p clusive and at the rate of Four and Thirty One-Hundredths per centum,
(4.30%) per annum on the Certificates maturing in the years 1977 to
?; ,j•dip? 14!5i•.,,'•ti' :, 1989, inclusive, being a net interest cost of $6$3,359.00.
The proposal of JOHN NUVEEN & CO., INC., offering to pay the
sum of Six Hundred Eleven Thousand, Five Hundred Forty-one and no/lOD
:':;•., ti;.,<<+,ry'` ;:., :_.'' Dollars ($611,541.00), together with accrued interest from the date of
said Certificates to the date of delivery thereof, for said Certificates
bearing interest at the rate of Four per centum (4%) per annum on the
Certificates maturing in the years 1961 to 1973, inclusive, at the rate
K ,. .a•'yr; i£P::.y1,? \., r :.S '; •, I.le ia.Si 'rf -
of Four and One-quarter per centum (4) per annum on the Certificates
maturing in the years 1974 to 1980, inclusive, at the rate of Four and
Fort One-Hundredths per centum (4-
?? '•y •?,,,,}?,s11:'„?Y •,?: #?..;. •?? . ;, y p 40%) per annum on the Certificates
%'4+?3Y?r:'rl "rit?,'.?da;:,`;;•Jt'.-.:y._i??,
Y 44 ?.' p maturing in the years 1981 to 1986, inclusive, and at the rate of
Four and Thirty One-hundredths per centum (4,30%) per annum on the
Certificates maturing in the years 1987 to 1989, inclusive, being a
net interest cost of $685,366.50.
WHEREAS, the proposal of KIDDER, PEABODY & CO., referred to
in the preambles hereof, is the highest and most advantageous of said
bids, and in all other respects complies with said notice of sale; now
Reso. 59-86
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°•:.tk"tl.: •': ; therefore,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
5' • CLEARWATER, FLORIDA, in session duly and regularly
?S."??'?F`•'' .-?~';°;?a° 3 assembled, as
• .?.,:.i 2N>Flj ?!. fo11OW3:
Section 1. That the proposal of KIDDER, PEABODY & CO.,
referred to in the preambles hereof, be and the same is hereby accepted,
and the following described Certificates of the City of Clearwater,
Florida, be and they are hereby awarded and sold to the said purchaser
referred to in the preambles hereof.
;' $630,000 - UTILITY REVENUE CERTIFICATES, SERIES OF 1959, dated
August 1, 1959, numbered 1 to 630, inclusive, in the
denomination of $1,000 each bearing interest and
;,' ; , ;,• .. maturing on August 1 in the years and amounts as follows
:A
Interest Rate Interest Rate
i Year Amount Per Annum. Year Amount Per Annum
1961 $5, 000 4 % 1976 $10$000
y' 1962 5,000 4 % 1977 10, 000 1+141 %
.30
1963 5,000 4 1978 10, 000 4.30%
;.,,• 196 5,000 1r 1979 10, 000 4.30%
1965 5,000 4 ? 1980 15,000 4.30%
j
?0%
t ;, .. '::<.;;: ?.'';'';-;•.' 1966 5,000 4 % 1981 15,000 ?f)'. J`''I'r
j€•-f:ir,?,.1 'r..k,`t-.:?i ^w'''..• ? 5?• -?'?'' i':`':, .' 3,,?• ,
1967 5 , 000 4 % 1982 15 , 000 .30gb
:.., ,
x968 5,000 4 % 1983 15,000 4.3
1969 5,000 1984 IL5,000
4.3?
1970 5,000 % 1985 13"000 4..30r?
1971 5,000 4 % 1986 95,000 4..30&
l;rti :`; t,. ;?,:{ .•.''`' :r' 1972 5,000 14 % 1987 100,000 4.30
7,.5,+74•;w.t?;~it,:?.,;r` _ <, ?:?:?- _ 1973 101000 t+ % 1988 x.05,000 4-30
?,..`;?,,•?`:. .-'f°` + ' - ?` 1974 10,000 4
1989 110 000 4--3
%
i
t• ;:• kr! a'? v•j1 ?rY = ?_:. .,.:..' 1975 10,000
4 % ?
d 'fir t 7`,j f•••..:.,j :.
Section 2. That the proper officers of the City, be, and they
7. v r J. 5? s.?.'r`+R :-"Z",•'!!5. '"fir,: r• „ ' . -
.fy ejtFi"?Pi!' r.f? }Sr4,?; ?t ir4 h,t?;.sr.: •;-',.• 1a
are hereby authorized and directed to execute said Certificates when
`'' :::•, !:' : f { „?;;.,::, ::.J prepared and to deliver same to said purchaser upon payment of the
y?JyR:i?E.. I?n'is`:'l?'?y?t•;? yl??'''?•: r.K ?? •,' ?
purchase price pursuant to the conditions stated in the notice of sale,
without further authority from this Commission.
iii 51%' .,-'!1-;e,•i. ,.` ?R. ,!1 ::i;?11 rl:; ::.
Section 3. That the City Treasurer be, and he is hereby
- authorized and directed to return forthwith the good faith checks
of all unsuccessful bidders.
Section 4. This resolution shall take effect immediately.
PASSED AND ADOFTED, this 15th day of September, 1959.
C
x D. FfAch, Mayor
Whitehead, City er
Heso. 59-86 -2-
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