88-012CITY OF ANAHEIM RZSOLUTION NO. 88R-12
RESOLUTION OF THE CITY COUNCIL OF THE CIT~ OF
ANAHEIM, C~LTFORNIA, ACCEPTING A BID FOR THE
PURCHASE OF ITS $5,000,000 WATER REVENUE BOND~,
1988 SERIES; REJECTING ALL OTHER BIDS; APPROVING
THE FOR~ OF THE OFFICIAL STA'rF~MEN~; AND TAKING
CERTAIN RELATED ACTION
W~EREAS, the City of Anaheim (the "City") is a municipal
corporation organized and existing under a charter duly and regularly
adopted pursuant to the provisions of the Constitution of the State
of California (the "Charter") and the powers of the City include the
power to issue bonds; and
WHEREAS, this City Council, in compliance with all require-
ments of law has heretofore adopted, on December 15, 1987, Resolution
No. 87R-521 (the "Proposal Resolution"), entitled:
"Resolution of the City Council of the City of Anaheim,
California Authorizing the Invitation of Proposals for the
Purchase of $5,000,000 Water Revenue Bonds, 1988 Series, of
Said City; Approving the Form of the Official Bid Form, the
Notice of Sale, the Notice of Intention to Sell Bonds and
the Preliminary Official Statement; and Authorizing the
Publication of the Notice of Intention to Sell Bonds and
the Notice of Sale"; and
WHEREAS, this City Council, in compliance with all require-
ments of law has heretofore adopted Resolution No. 88R-11 (the "Bond
Resolution"), entitled:
"Resolution of the City Council of the City of Anaheim,
California, Authorizing the Issuance of $5,000,000 Water
Revenue Bonds, 1988 Series, of the City and Providing the
Terms and Conditions of such Bonds"; and
W~EREAS, this City Council deems it necessary to sell at
this time $5,000,000 principal amount of Bonds as authorized by the
Bond Resolution.
NOW, TI%F~{EFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM,
CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. Compliance with Conditions Precedent. Ail
steps required to be taken precedent to the authorization, issuance
and sale of the Bonds have been duly and regularly taken as provided
by law.
Section 2. Notice of Intention to Sell Bonds and Notice of
Sale. The Notice of Intention to Sell Bonds (as approved by the City
Council in the Proposal Resolution) was published as required by law
and the Notice of Sale was published as required by the Proposal
Resolution. Pursuant to the Notice of Sale and the Notice of
Intention to Sell Bonds, proposals have been received, opened, read
and examined.
Section 3. Successful Bidder. The proposal for the pur-
chase of the Bonds attached hereto and marked Exhibit A, and by this
reference incorporated herein, is the best bid for the Bonds. Such
proposal is hereby accepted in accordance with the terms thereof, and
in accordance with and subject to the Proposal Resolution and the
Bond Resolution.
Section 4. Ail Other Proposals Rejected. Ail proposals
other than the one accepted pursuant to Section 3 hereof are
rejected.
Section 5. Interest Rates on the Bonds. The Bonds shall
be payable in the Principal Amounts (as either maturities or Sinking
Fund Installments) and shall bear interest at the rates as set forth
in the accepted proposal and the Bond Resolution.
Section 6. Purchase Price for the Bonds. T h e P u b 1 i c
Utilities General Manager is hereby authorized and directed to
deliver the Bonds to the successful bidder upon payment of
$ 4,952,317.10 therefor, plus accrued interest from January 1, 1988
to the date of delivery of the Bonds.
Section 7. Ratification. Ail actions and proceedings
heretofore taken in connection with the authorization, issuance and
sale of the Bonds.are hereby ratified and confirmed.
Section 8. Official Statement Approved. T h e f i n a 1
Official Statement dated January 12, 1988 (the "final Official
Statement") in substantially the form of the Preliminary Official
Statement with such changes thereto as are necessary to reflect the
actual terms of the Bonds and such other changes as the Public
Utilities General Manager shall approve (such approval to be conclu-
sively evidenced by the execution and delivery thereof by the Public
Utilities General Manager), be and the same is hereby approved, and
the City Council hereby approves the use of the final Official
Statement by the successful bidder in connection with the offering
and sale of the Bonds, and the City Council hereby further approves
the use by the successful bidder of any supplement or amendment to
the final Official Statement which is necessary so that the final
Official Statement does not include any untrue statement of a
material fact and does not omit to state a material fact necessary to
-2-
make the statements therein not misleading. The Mayor, the City
Manager and the Public Utilities General Manager are hereby autho-
rized and directed to execute the final Official Statement and any
amendment or supplement thereto, in the name and on behalf of the
City, and thereupon to cause the final Official Statement and any
such amendment or supplement to be delivered to the successful
bidder.
Section 9. Official Statement Furnished. The City Clerk
and the Financial Advisor to the City for the issuance of the Bonds
are hereby authorized and directed to cause to be furnished to the
successful bidder a reasonable number of copies of the Official
Statement.
Section 10. General Authorization. The City Clerk, the
Public Utilities General Manager and any authorized officers, deputy
officers or employees, consultants and counsel, are hereby authorized
to do all acts and things necessary or desirable in carrying out the
financing contemplated by the Proposal Resolution and the Bond
Resolution.
Section 11. Effective Date. This Resolution shall take
effect upon its adoption.
1988.
ADOPTED, SIGNED AND APPROVED this twelfth, day of January,
(SEAL)
ATTEST:
City Clerk
Mayor
-3-
CLERK
STATE OF CA-L£F0~iA )
COUNTY OF OR. GE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 88R-12 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 12th day of January, 1988, by the following vote of the members thereof:
AYES:
COUNCIL MEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL M~24B ~ERS. None
AND i FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 88R-12 on the ±2th day of January, 1988.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim thisl2th day of January, 1988.
CITY CLERK OF THE CITY OF ANAHEIM
I, LEONO~ N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 88R-12 duly passed and adopted
by the Anaheim City Council on January 12, 1988.
CiTY CLERK OF THE CITY OF ANAHEIM
OFFICIAL BID FORM
Proposal
For the Purchase of
$5,000,000
City of Anaheim, California
Water Revenue Bonds, 1988 Series
January 12, 1988
Office of the City Clerk
City of Anaheim
Room 217
200 South Anaheim Boulevard
Anaheim, California 92805
Ladies and Gentlemen:
On behalf of the undersigned and any underwriting syndicate which we have formed, and in accordance
with the terms and conditions of the attached Notice of Sale. dated December 28, 1987. which is hereby made
a part of this proposal, we offer to purchase all of $5.000.000 aggregate principal amount of City of Anaheim.
California Water Revenue Bonds. 1988 Series, to be dated January 1. 988 and we will pay as the purchase
($'4,q~-~, 3 ~. m), at the time of delivery, in immediately available Federal Reserve Funds, plus accrued
interest from January 1, 1988 to the delivery date of the Bonds.
We enclose herewith a certified or bank cashier's or treasurer's check, drawn upon a California bank or
trust company, in the amount of $50,000, payable to the order of the City of Anaheim, California, which
check is to be applied or returned in accordance with the Notice of Sale.
SCHEDULE OF PRINCIPAL AMOUNTS AND INTEREST RATES
The Bonds shall be payable in the Principal Amounts (as either maturities or Sinking Fund Installments)
and shall bear interest at the rates set forth in the following schedule:
Due Principal Interest Due Principal Interest
October I Amount Rate October I Amount Rate
1989 ............. $ 85,000 ~. 30 % 2001 ............. $190,000 '~./0
1990 ............. 90,000 6,. 30 % 2002 ............. 200,000 7' /~'%
1991 ............. 100,000 G, :~O % 2003 ............. 215,000 '~.~-0
1992 ............. 105,000 ~, 30 % 2004 ............. 235,000
1993 ............. 110,000 G. 30 % 2005 ............. 250,000 '7' 30
1994 . 120,000 L~. 3~ % 2006 ............. 270.000 '7.~
1995 ............. 125,000 G. ~0 % 2007 ............. 290,000 "7,'-/~
1996 ............. 135,000 6. ,4~ % 2008 ............. 315.000 ")'
1997 ............. 145,000 (.,. ~0 % 2009 ............. 340,000 '7. b-~O
1998 ............... 155,000 (o · '~'~ % 2010 ............. 365,000
1999 ............. 165,000 ~'r40 % 2011 ............. 395,000
2000 ............. 175,000 -~, 00 % 2012 ............. 425.000 '7,60
TERM BONDS
The following schedules are for the purpose of designating any mandatory Sinking Fund Installment
dates in bids for the Bonds. The Sinking Fund Installments to be made on such dates are indicated in the
schedule above as Principal Amounts.
Sinkin~ Fund Installment Dates
From October l, to October I,
From October 1, to October 1.
From October 1, to October 1,
Ferm Bond
Maturity
October I,
October 1,
October I,
The closing documents referred to in the Notice of Sale are to include certificates, dated as of the date of
thc delivery, of the Bonds, with reference to the Official Statement, as provided therein, and stating that there
is no litigation pending or, to the knowledge of the signer of such certificate, threatened affecting the validity of
the bonds. We hereby agree to provide the City, prior to closing, the information regarding the initial prices at
which Bonds were sold, as provided for in the Notice of Sale.
t Bidder
By:,
Title
(No addition or alteration except as provided above,
is to be made to this bid lbrm and it must not be
detached from the Notice of Sale.)
The following is provided for information only and is not a part of this bid:
The total amount of interest payable on the Bonds during the life of the issue under this proposal, without
deducting the premium bid, if any, is $/-.ej 0'7'7, c~O g~, %~21.
The true interest rate for the Bonds, calculated as described in the Notice of Sale, is ~" 3-]~ g' %.
The above mentioned check has been returned and receipt thereof is duly acknowledged.
By__
Title.
Bidder