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A RESO Y OF THE CITY COMMISSION t
OF THE CITY OF CLEARWATER FLORIDA `
AWARDING $3,260,000 UTILITIES TAX
IMPROVEMENT CERTIFICATES.
-k ?f lr• l'tlr , - d 1
WHEREAS, pursuant to notice heretofore duly published for the
sale of $3,260,000 Utilities Tax Improvement certificates, dated June 1,
1959, the following sealed proposals have been received:
The proposal of KIDDER, PEABODY & CO., offering to pay the sum
of Three Million One Hundred Sixty-Two Thousand Eight Hundred Fifty-Three
and No One-Hundreds Dollars ($3,162,853.00), together with accrued inter-
est 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 1962 to 1972, inclusive, at
the rate of Four and Twenty One-Hundredths per centum (4.20%) per annum on
_ the Certificates maturing in the ears 1973 to 1974, inclusive and at the
rate of Four and One-Quarter per centum (4*%) per annum on the Certificates
maturing in the years 1975 to 19891 inclusive, being a net interest cost of
:...; . ' ;?,.. $2,773,639.50.
The proposal of Merrill, Lynch, Pierce, Fenner & Smith, offering
to pay the sum of Three Million One Hundred Sixty-Two Thousand Two Hundred
irk; :;} .7?.se:?; `"t,J:- ir'. .• ," -5;,:'.,,,; -• .,t.::;:s;; and No One Hundreds Dollars ($3,162,200), 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 Six per centum
P (61.) per
annum on the Certificates maturing in the years 1962 to 1964, inclusive, at
the rate of Five per centum (5,%) per annum on the Certificates maturing in
the years 1965 to 1971, inclusive, at the rate of Four and One-Quarter per
centum M%) per annum on the Certificates maturing in the years 1972 to
1975, inclusive, being a net interest cost of $2,786,732.50.
The proposal of JOHN NUVEEN & CO., INC., offering to pay the sum
of Three Million One Hundred Sixty-Two Thousand Eight Hundred Fifty-Two
and No One-Hundreds Dollars ($3,162,852.00), 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'k) per
annum on the Certificates maturing in the years 1962 to 1973, inclusive, at
11111 011- 11
t'
Reso. 59-85 -1- 9-15-59
• ?i?,.11 .,.?4• yN{P ?,r
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dd y?:ICy t. i.< '1`f? :t.'.'r. f T.. .'!::, •+?e:i,
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x. a? ?:ti i••
•r ,'6'
:Y tLY
F _?Cr'lYyytt-,r -t'4? .1.1=': ?1 t ''?`'ii' ... ..>.. ...r .`l''x.-.......:'a'°sr1C.:..t z1...•,r!M,.ar....?.•JFmn.vs.F,rrk w../ 'w,w„n-.»ur.'........,..»._.:.s.....:.,.:'-. .. :.,+:?
Y,,yJ r ..+??• ,yr.. , ? i? 'M+.?i:•,:,+qtr+.:....,..,,.N?r?...,,,.,-.,? aar•.•..?:::?::?•;:'....,..M .. •
f • :'ti't. i rfr?t,(,' S' k": f ? „• ' ' ? • • ' ,
•Y.? ',Mat,/., t,= L•. r .;5r ', s
', ,A?,•;,6,.M?z?; the rate of Four and One-quarter per centum (4j%) per annum on the
Certificates maturing in the years 1974 to 1980, inclusive, and at the
4;:" `;s'`;-.,`.r?.•` ;r,' rate of Four and Thirty One-hundredths per centum (4.30;x) per annum on
the Certificates maturing in the years 1981 to 1989, inclusive, being a
i.q'f'Y'L net interest cost of $2,790,949.25•
WHEREAS, the proposal of KIDDER, PEABODY do 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, therefore,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER
'. ' FLORIDA, in session duly and regularly assembled, as follows;
}?,;°<• : v,3• PEAB referred
Section 1. That the proposal of KIDDER, 0DY & Co.,
} •>?`?, sue.>•,•' .' 'f .,?'" ,
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.
$3,260,ooo - UTILITIES TAX IMPROVEMENT CERTIFICATES, dated June
1 1959, numbered 1 to 3,260, inclusive in the denom-
ination of $1,000 each, bearing interest and maturing
on December-1 in the years and amounts as follows.
Interest Rate Interest Rate
?,,?:x,,i't•;"='''r; ^,,?•-?l t:;:;?;,,, :.. Year Amount Per Annum Year Amount Per Annum
'+t.5 yr •'T ;: ;., ..._: -s?, ;;: ,:
$115,000 4- %
1962 $65,000 4 % 1976
:4j? `"' •. ? f 1963 70,000 4 % 1977 120,000 4 %
1964 70,000 4 % 1978 120,000 4 %
1965 75,000 4 % 1979 125,000 4 %
?E'^.,.'t F::"? !i'• 117:,;.x1 R' !_.. 1966 75,000 4 % 1980 130,000 4
1967 809000 4 % 1981 135,000 4
1968 85,000 4 % 1982 145,000 4 ?
?,.•:y.''?f":a;::;,'::j:.:;.`a. 1969 $5,000 4 % 19$3 150,000 4
,r-..
197 90,000 4 % 1984 55 000 4
??,??:??=?,? °•.:....,r.:,.?.°,.: 1971 95,000 4 % 1985 160,000 4 ?
1972 95,000 4 % 1986 165,000 4
1973 100,000 4.20% 1987 175,000 4
1974 105, 000 20% 1988 180,000 4
+h''.?i2,',?}ic'r ;'•, :,,, 1975 110,000 4 1989 185,000 4
•'?'? •Y?.1•j,°?'?,in'y?.r .ii??i S•?i'i?j,?Jt .',e
Section 2. That the proper officers of the City, be, and they
are hereby authorized and directed to execute said Certificates when
prepared and to deliver same to said purchaser upon payment of the purchase
price pursuant to the conditions stated in the notice of sale, without
E' further authority from this Commission.
Reso. 59-85
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9-15-59
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41
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,rib,. ,'r4A Section 3. That the City Treasurer# be, and he is hereby 1!I;`r? ?'# ,?r??
!t ; Y5 x'
rq4,;; authorized and directed to return forthwith the good faith checks of
all' unsuccessful bidders.
41,
'
Section 4. This resolution-shall take effect immediately.
15th f Se tembvr X'?
PASSED AED ADOPTED, this _? p ? 959.
ex D. Finch, Mayor
' ?' `'' ''.:•x.-1',1 a;?,?,
-eiy;..?r • 0. Whitehead, Uty Clerk
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Reso: 59-$5 -3. X 9,=I5-59
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