71R-235
Rl:80LUTIOH NO. 71R-2~~
RESOLUTION or !'I-IB CITY COUNCIL or TlJB
CITY OF .MAlIEIM, CALIfORNIA, DIRBClZHO
'rUB ern CLERK TO PtlDLISB RO'1'ICB IHVlTDCI
8SALaD i'1GP08AL1 IreB .CUDS or lAID cur.
_IBAI, . &-e.ol11tioa pzoylc11D, 10.. the 1..llUlCe
of watez' 1:eYeD\UI t>>on4II of the Cit,. of ADM.a, CaUloznla,
1D Cho UlO1Iftt of '2,000,000 to be 4u1,..tacl ..... JlBVDJUB
8BBD8 1'71 808DS,. "u been 1DUOdu.ee4, aDC1
-MAl, l~ i. ...icul. th.~ .&14 boDda be .014,
.eIf, ~BJ:JIUO", t:be C1q. COuac:ll of tb. City of
Anaheia, CaUtomia, __ ....y .SOLva, DftBRMDIB MD
OaDBR .. fol10W111
Section 1. 'tb..~ .ai4 boacb be .014 aa4 .that. ..ale"
b1da or pzopo..l. for the puaab... of ..1d bonda b. ~.cal"e4
up to tile t:1Iae .tate4 ia the ftOt..lee b~l~'... .et fo~t:b.
aeoUOD 2. 'l'bat. the Ci 1:y Cl8..Jc be aDd 1. hereby
&\lthorl.e4 ADd cU..obKI to publi8b .aid 1IOt.1aa ~O. 1ft 1:be
AIlah.iII Bull.~1D, . Dev.paper ot .....a1 alftn1la.tioD publi8hed
in a&14 c1 ~Y. .aid publioation ~ be ., le... ..... dara pZ'lo&-
to tba data tOJ: ~.oe1"l.. ItlM.
8eotioa 3. Ib...aid aot.la. .bal1 .... ......Ua11y
.. follow..
t
--' ................~ ........ ......'"10. . .. "'5f -
NOTICE INVITING BIDS ON $2,000,000'
WATER REVENUE BONDS OF THE CITY OF
ANAHEIM, CALIFORNIA
NOTICE IS HEREBY GIVEN that sealed proposals for
the purchase of $2,000,000 par value water revenue bonds of
the
CITY OF ANAHEIM
will be received and opened by the City Council of said city
at the place and up bo the time below speci~ied.
TIME: 10:00 A.M. (P.S.T. Day1iqht Time)
June 15, 1971
-. PLACE: . Ci ty Council Chambers .'
City Hall .
204 E. Lincoln Avenue.
Anaheim, California
- MAILED BIDS: c/o Ci ty Clerk
City Council Chambers
City Hall
204 E. Lincoln Avenue
Anaheim, California
OPENING OF BIDS: The bids will be' cO'nsidered at
the meeting of said City Council to be. held June 15, 1971,
at 1:30 o'clock P.M. at the City Hall of said city.
ISSUE: $2,000,000 designated "WATER.REVENUE SERIES
1971 BONDS" consisting of 400 bonds, numbered 1 to 400, both
inclusive, of the denominat.ion of $5,00.0. each; .dated. July 1,
1971.
1.
.-..
MATURITIES: The bonds will mature in consecutive
r
numerical order on
Ja1:t 1
in th, amounts tor each
ot the several years &8 tollows:'
Year
1972
1'73
1914
1915
1976
1'77
19'0
1'7~
1980
1981
1902
19C3
1984
1905
19SG
INTEREST:
The bonds shall
~lnc1~1 Amount.
, 85,000
90,000
95,0"00
100,000
110,000
115,000
120,00')
130,000
135,000
145,000
155,000
165,000
175,000
105,000
195,000
bear interest at a
rate or rates to be fixed upon the. sale thereot but not to.
exceed , _ per annum, payabl.*IUDIL..llJ 1I..f .rlrl.t
-J. r----rJ 8em1annuall,,~Ul ---- 1-.
~ ~
PAYMENT: Said bonds and the interest. thereon
are payable in lawful money ot the United States of"America
a t the o!f1oe of the d.~r TI:...uz-er 1ft AIlah.1a, CaUfoz-n.la,.
or ..t the opUoa 01 tho hold.l:, a't the .u. offic.. 01 DaM
of America, 8.7. , I.A.,. 11.c&1 aV8D'& for th. alt1 1ft 1.0.
Angela., Cal1foZ'D1a O~ .~ aar paying ..,..t. of the .1~y 1n
SaD Franolaco, califon.t.., 011.., 11Uaol., or ... Yon,
.... %OZ'''',
. .
2.
. .. ----. .-
RBGXS'ZIA'lXat I !'be bonds w111 be coupon boft411
re91strable oaly as to both prlnoipal abd lDtanat, &114 .
the bonda allY be 4UcharqecS troll "GglavaUoa, ,,11 in
acoor4aftce vi tIl th. prowl.J.oM 1a the ~Ol.tlOD p~0Y141a9
fo~ tb. i..unce of the boft4..
J"mJ'm1-G'1:%OIIa 'lb. bonde ..'uriDCJ Oil os- prior to
July 1, 1181 &hall DO~ b. e\lb:lect to aall or r04811p~loD
prior to aa1;ur1ty. no bond8 mat.UZ'ift9 ora ozt afbr -fU.l, 1,
1'82 OJ: any of thea, may bo called befor. llawz-ity u4
red..1Ied at: tit. optloa of the C1q. Couacll of a.aid Gl~
Oft July 1, 1'81 O~ 01\ .. 1Ahn.~ ~, 4a. tb....fte:s-
pr.1o~ to aab1r1 tr, at. a r04eJaption price for .aGh r~l.
bond .xpr.....s 1a the follow!n, .c:ha4ul. of PU' val.e, pI..
.cel1Ua4 1ftbtz-..~ i:o tbe date of K'e4eJDpUeOD .. lo11owa.
104' if red....d on JUly 1. 1911 O~ 3an~ 1, 1"2,
1031 1t re4e...d 011 July 1, 1'82 O~ January 1, 19831
102' it redeemed on July 1, 1983 or 3anuarr 1, 1'8.,
lOll it redeema4 OIl ..11&11' 1, .1984 os- .7u"axy 1, 1.IS,
100' 1f re4e...4 Oil 3uly 1, 1'" OK' th....tUI'. .
Allor any of the bond. .ubjec~ to oal1 ..)' be ~11e4 foe
redeapt.lon at. any oa. t:.1ae. If 1... thaa all of the bonds
Aro Z\ldeemac1 at MY ODe tillG, .UGh boft411 alI.all be Nd_...4
only in 1nvene 0I'd.. of ..tar1tr M41tr 1.' vl~D . ..~J.Q.
J.
..~..............
PURPOGZ 01' XSSfJB. ~. bon48 U'. .l..uod for tJ\.
pw:-poae of E&181n9 fwads to OQn8uuct ADd t!Auce a441t.lona
~ and 1.p~oYe."~ of the vo~Jc:. of the Cl'y !~ aupplylD,
the City AD4 It. iJaIlabltaata with ..ter.
s&cuarn. Said boll4a U'. i..ue4 pw:-.aan' to
OrdiaanOl 1\10. 2933 of the d.t.y of ADAh.ta, an4 a.CUOD
1210 of the CJ.t.r CbAl'"uJ: of .ai4 01_,. .&14 !tonc1a u.
equally ..~.cS by . ple4ve, ahUV8 and 118J'l u.poA the net .,
za.v..... of the ".t.er:woJ:u -rat.. of the C1'ty of Anahe1.
(4ef1nod as the -.n-..pr1..- 111 the :r..olutloa pJ:OVl41llV
tor: the i..uarace of the banda), t.Ggethu vith aU '&441&10AII
and ll1ProvtJSIrmta to aaid ayat8:ll b.Z'...f~.r mad.. 'the prl.nelpal
of aA4 1nter..~ Oft 'the bonda aft4 any p~iWl. upon the Z'edellp-
UOD of any thereof ar. .Dot . debt. of the City' of ADahe1a
nor a 1419&1 ~ eq\11Uble ple4g'e, ohU9\', lieD o~ .AO\I1hb~Uctt
upon aDY of i t8 pZ'o,..~y or upon any of .l tII 1nGlOlle, nc:eipu
or re"uue., except; ~. D.' ~.Ye1\\&.. of .&14..teavol:ka .y.tem
whLch &Z'. und.Z' the t.eau of the J:..oluUon .of i..uanc:e,
pledged W 1:!a. PayaReII't of ..14 boD4. an4 1otenet. The
9-81:&1 fund of the City of ADahe1a i.' DOt 11abl. for: the
pIlymGAC of the boD4tl or their 1n'ter..t., 80r U the o"aQl~
oX" tlle UXiA9 pGWU' of the cit.y plodp4. .,he bo148... of the
I
llona. oa- aoupoDa nall DO~ ooapel the _.rd.. of the ~axlD9
power by the c:lty ~ ADaIl.iII 01' tile fo..fe1-" of AA,/ of
1 bI pzopez-ty.
4.
.-....-
TERMS OF SALE
Interest Rate: The maximum rate bid may not exceed
, ~ per annum, payable ~l?-~'.f1!rB1J 7ear -i!lftd- semi-
annually 'heIe6t'~r. Each rate bid must be a multiple ot
1/20th OJ: 1/8tb of l~. No bond shall bear more than one
interest rate, and all bonds ot" the same maturity shall bear
the same rate. Each bond must bear interest at the rate
specified 1n the bid from its date to its fixed maturity date.
Only one coupon will be attached to each bond for "each install-
ment of interest thereon, and bids providing tor.additional or
supplemental coupons will be rejected. ~ 11IU.L& Lliall
h~b6I ~8 ~ p"-crtes IIIIIfta7 -be ~:--..IJ:'he- {l6()~lMotr'-ot'--snr llra-t6 ~}-
nc-tr-tJeal ~Old~ Id~l 6d -t:he-~tg" ~ ~if ~-!'-ttoIAal '1\~ be . The ra te
on an)" maturit)" or group ot maturlt1e's shall not be "more than
2 ~ higher than the interest rate on any other maturity or
group ot maturities.
Award: The bonds shall be sold tor cash only. All
bids must be tor not less than all of the bonds hereby offered
for sale and each bid shall state that the bidder otters par
and accrued interest to the date or delivery, the premium, it
any, and the interest rate or rates not to exceed those speci-
fied herein, at which the bidder orfer~ to buy said bonds.
Each bidder shall state in his bid the total net interest cost
in dollars and the average net interest rate determined there-
by, which shall be considered informative only and not a part
ot the bid.
H1~hest Bidder: The bonds w111 be awarded. to the
h1ghest responsible bidder or b1dders considering' the interest
5.
rate or rates specified and the premium offered, it any.
The highest bid will be determined by deducting the amount
of the premium bid (it any) from the total amount or inter-
est which the clty would be required to pay from the date ot
said bonds to the respective maturity dates thereof at the
coupon rate or rates specified 1n the bid, and the.award will
be made on the basis ot the lowest net interest cost to the
city. The purchaser must pay accrued interest from the date
of the bonds to the date ot delivery computed on a 360-day
year basis. The cost ot pr1nting the bonds w111 be borne by
the city.
Right ot Rejection: The city reserves the right,
in its discretion,' to re3ect any and all bids' and to 'the extent
not prohibited by law to waive any irregularity or informality
in any bid.
PromDt Award: The city will take actlon awarding
the bonds or reJectlng all bids not later than twenty-six (26)
hours atter the time herein prescribed tor the receipt or pro-
posals; provided that the award may be made atter the expira-
tion ot the specif1ed t~e it the bidder Shall not have given
to the City Council notice in writing ot the withdrawal ot '
such proposal.
Place of Delivery: Delive~ or said bon~B will be
made to 'the successful bidder at such place as shall be agreed
upon by city and purchaser. Said delivery shall be at the
expense of the city if effected in San Francisco 'or Los Angeles,
,
California, and at t:he expense of the pu.rchase.r if : effected
elsewhere.
6.
l'~"',
PromDt Delivery; Cancellation for Late Delivery:
It is exoected that said bonds will be delivered to the success-
ful bidder within
t.."11 rty
days from the date or sale
thereof. The successful bidder shall have the right" at his
option, to cancel the contract or purchase it the city shall
iail to execute the bonds and tender them tor delivery within
sixty days from the date herein fixed for the receipt or bids,
and in such event the Buccessful bidder shall be entitled to
the return of the check accompanying his bid.
Form of Bid: Each bid, together with the bid check,
must be in a' sealed envelope, addressed to the city with the
envelope and bid clearly marked "Proposal tor Cl.tr .of Aaaha1a
Wa'tG&- BlIven.. &81:1.. 1'71 aoD4a..
Bid Check: A certified or cashier's check on a
responsible bank or trust company in the amount of ~~fte $40,000
pM.-ne-i'f1t!'i--d~-M'-~&& ~dtlM, payable to the order of .the
city must accompany each proposal as a guaranty that the bidder,
it successful, will accept and pay for said bonds ,in .accordance
with the terms ot his bid. ~e check accompanying any accepted
proposal shall be applied on the purchase price or, it such
proposal is accepted but not performed, unless such failure or
performance shall be caused b1 an1 ac~ or om1ss1on o~ the c1ty,
shall then be cashed and the proceeds retained by the city.
The check accompanying each unaccepted proposal will be returned
promptly.
,
Change in Tax ExelllDt Sta tus : A t any time before the
bonds are tendered tor del1ve~, the sucoessful bidder ma~
7.
disaffirm and withdraw the proposal if the interest received
by private holders from bonds of the same type and character
shall be declared to be taxable income under present federal
income tax laws, either by a ruling of the Internal Revenue
Service or by a decision of any federal court,. or shall be
'declared taxable or be required to be taken into account in
computing any federal income taxes, by the te~s of any fed-
eral income tax law enacted subsequent to the 4ate of this
notice.
Legal Opinion: The unqualifi~d opinion of O'Melveny
, ~ers, attorneys, approving the validity of said bonds and
indicating that interest on said bonds is exempt from income
taxes of the United States of America under present federal
income'tax laws and that such interest is also exempt from
personal income taxes of the State of California under present
state income tax laws, will be furnished the successful bidder
at or prior to the time of delivery of the bonds, at the
expense of the city. A copy 'of such opinion, certified by
an officer of the city by his facsimile signature will be
printed on the back of each bond. No charge will be made
to the purchaser for such printing or certification.
No Litigation Certificate: At the time'of payment
for and de1ivery of said bonds, the ci~y wi11 furn~sh the
successful bidder a certificate that there is no litigation
pending affecting the validity of the bonds.
INFORMATION AVAILABLE: Reques'ts for information
concerning the city should be addressed ~o: .
Mr. M. R. Ringer
Director of Finance
P. O. Box 3222
Anaheim, California 92803.
8.
....... ...~. :;,......c.~. ""'10 .......... ................ ._................_........... ._........__...._.............._____.....~__........_.~_...._...........
GIVEN by order of the City Council Of the City
of Anaheim, California, adopted
fnn~ 1
,
1971.
City Clerk of the C1ty of
. Anaheim, California
,
8a.
.. ~........ ... ~""Idi'k.... .~"'1......,...., :. .f:........:H.-n......................... ..", .........w._..~ ........- ._..~-"--""".."""""""""'-""~.*-" :.....:'do~............W'..........~......
.
3/63-2
Section 4. That the City Clerk i8 hereb7
authorized and directed alia to publish said.notice (or
an advertisement referring thereto) once in the BOND
BUYER, a financial journal published 1n New York, New
York I but failure to publish laid notice or advertise-
ment 1n the BOND BUYER ~r any de~ect In. such publication
shall not invalidate or 1n any manner atteot the pro-
ceedinS_ tor the aale ot the bondi,
r
<6 /~
". . '-"0"_" .~~. .:._11"1''':.. ,;,.....,a;..... _ . _l;o...... .. I..~~~ :. .,,~. . ~_ .__......;....: .." .....-........._~ ..~---=-_..--+--______.....~..__.....
,--.
J\DOPl'BD. StcrmD AND APPaovBD thi. 1st day
of
~T U1jlf~
, 1.71.
. If
(~fot Cb.~~~
V .
A.~'1'.
"~~ ~.rMahesa
.CSBAL)
..
. ..~...~............~.........~..- .-..................,.............t.......'HLW........... .-...........iIf........n~~... .
STATE OF CALIFORNIA I
COUNTY OF ORANCE
CITY OF ANAHEIM
I
88.
I, Dene M. Daoust , Ctty Clerk
of the City of ~~fM ;-Cal1fornla,
DO HEREBY CERTIFY tha the foregoing resolution was QuIy adopted
by the City Council of said city and was approved by the Mayor
of said city at a ------------------ regular ,meeting of said
City Council heldon the 1st day of Tune ,
19 71, and that it was 80 adopted a8 tollows:
AYES:
Councilmen
~~AphAnAnn. Pebley. Thom
and Dutton
NOES:
'ABSENT:
Councilmen
Councilmen
. None
Roth
, I
~~~~
,C Cler of the lty of
,__.iII,' qaUtOl1a1a
(SFAL) ,
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF ARAHBIM
I
8S.
I, Deue M. Daoust , City Clerk
of the City of Anaheim J California,
DO HEREBY CERTIFY that the above and foregoing 18 a full, true
and correct copy of Resolution No. 71R-235 ' , and
that the same ha8 not been amended or repealed. .
DA TED:
June 1
, 19 71 ·
(:) );r_j)~
~lerk of e y of
Auheill, Cal1fontla
, ' ,
(SEAL)
. I, DENE M. DAOUST, City Clerk of the City of Anah'eim, .do
hereby certify that the foregoing, is the original of Resolution No. 71R-235
duly.passed and adopted by the A~aheim City ,Council on~une 1, 1~7l.
- &~- )4_xQ~1
Ci~y C~erk