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72R-084 -. ",."..... RESOLUTION NO. 72R-84 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM, CALIFORNIA, DIRECT- ING THE CITY CLERK TO PUBLISH NOTICE INVITING SEALED PROPOSALS FOR THE ELECTRIC REVENUE BONDS OF SAID CITY WHEREAS, a resolution providing for the issuance of revenue bonds of the City of Anaheim, California, in the amount of $8,000,000, to be designated '~lectric Revenue Bonds, Issue of 1972", has been adopted; and WHEREAS, it is desirable that said bonds be sold; NOW, THEREFORE, the City Council of the City of Anaheim DOES HEREBY RESOLVE, DETERMINE AND ORDER 8S follows: SECTION 1. That said bonds be sold and that sealed bids or proposals for the purchase of said bonds be received up to the time stated in the no~ice hereinafter set forth. SECTION 2. That the City Clerk be and is hereby authorized and directed to publish said notice once in the ANAHEIM BULLETIN, a newspaper of general circulation, said publication to be at least seven (7) days prior to the date for receiving bids. SECTION 3. That the City Clerk is hereby authorized and directed to publish said notice (or an advertisement referring thereto) once in THE BOND BUYER, a financial journal published in New York, New York, but failure to publish said notice or advertisement in THE BOND BUYER, or ...... , ........ .......... SECTION 4. That the City Clerk is hereby authorized and directed to cause to be furnished to prospective bidders copies of the notice inviting proposals and information relating to the properties, operations and finances of said City, but failure, in whole or in part, to comply with this section shall not in any manner affect the validity of the sale. SECTION 5. That said notice shall be substantially as fo llows : .... .~ NOTICE INVITING BIDS ON $8,000,000 ELECTRIC REVENUE BONDS OF THE CITY OF ANAHEIM, CALIFORNIA NOTICE IS HEREBY GIVEN that sealed proposals for the purchase of $8,000,000 par value electric revenue bonds of the CITY OF ANAHEIM will be received by the City Council of said City at the place and up to the time below specified: TIME: 10:00 o'clock a.m. Tuesday, March 28, 1972 PLACE: Office of the City Clerk City 0 f Anaheim 204 East Lincoln Avenue Anaheim, California MAILED BIDS: Addressed to: ~s. Dene M. Daoust, City Clerk City of Anaheim 204 East Lincoln Avenue Anaheim, California 92805 OPENING OF BIDS: The bids will be opened at the time and place hereinbefore designated and shall be presented to the City Council at a meeting of said City Council to be held on March 28, 1972, at 1:30 o'clock p.m. at the City Council Chambers, 204 East Lincoln Avenue, Anaheim, California. ISSUE: $8,000,000 bonds, all dated April 1, 1972, and designated liE 1ectric Revenue Bonds, Issue of 1972". .,......... DENOMINATIONS AND NUMBERS: The bonds will be all in the denomination of $5,000 each. The bonds will be 1600 in number. numbered 1 'to 1600_ incl11Aivp_ ....... ,~. MATURITIES.: The bonds will mature in consecutive numerical order on July 1 in the amounts for each of the several years as follows: PRINCIPAL YEAR AH>UNT 1973 $200,000 1974 225,000 1975 250,000 1976 250,000 1977 275,000 1978 275,000 1979 300,000 1980 325,000 1981 350,000 1982 375,000 1983 400,000 1984 400,000 1985 425,000 1986 475,000 1987 500,000 1988 525,000 1989 550,000 1990 600,000 1991 625,000 1992 675,000 INTEREST: The bonds shall bear interest at a rate or rates to be fixed upon the sale thereof but not to exceed seven percent (7%) per annum, payable on July 1, 1972 and semiannually. thereafter on the first days of January and July of each year. PAYMENT: Said bonds and the interest thereon are payable in lawful money of the United States of America at the office of the Treasurer of the City of Anaheim, Cali- fornia, or, at the option of the holder, at the. Corporate Agency Division of Bank of America National Trust and Savings Association, in Los Angeles, California, or at any paying . ....... , agent of the City in San Francisco, California, Chicago, ~ REGISTRATION: The bonds wi 11 be coupon bonds regis- trab1e 8S to principal only or as to both principal and interest, and the form of registration of any registered bond m8Y be changed or any registered bond may be discharged from registration at the expense of the registered owner, in the manner and with the effect set forth in the resolution providing for the issuance of said bonds. CALLABLE: The bonds maturing on or prior to July 1, 1982, are not subject to call or redemption prior to matur- ity. The bonds maturing on or after July 1, 1983, or any of them, may be called before maturity and redeemed at the option of the City on July 1, 1980, or on any interest pay- ment date thereafter, prior to maturity, at a redemption price for each redee~ble bond equal to 100-1/4% of the principal amount thereof plus 1/4% of such principal amount for each whole twelve months' period and for any remaining fraction of a twelve months' period from the redemption date to the maturity date of such bond, but the redemption price, including premium payable at any time:upon redemption, shall not exceed 104% of such principal amount. Allor any of the bonds subject to call may be called for redemption at anyone time. If less than all of the bonds are redeemed at anyone time, such bonds shall be redeemed by complete maturity or maturities. ---- PURPOSE OF ISSUE: For the acquisition, construction and financing of additions, enlargements and improvements of ... k _ _ 1 _ _ .._ .: _ _ .... _ ... _ _ _ s:: _ _ .:...3 " .: ... __ .! _ _ ., _..:I.! _ _ _ .,., _ _ _ ~ _ _ _ _ ~ _ _ ..... ~" to or connected with such acquisition, construction and fi- nancing. SECURITY: Said bonds are issued pursuant to Section 1210 of the Charter of the City of Anaheim" and Ordinance No. 2980 of the City Council of said City incorporating certain sections of the Revenue Bond Act of 1941 (Chapter 6, Part 1, Division 2, Title 5 of the Government Code of the State of California) and establishing a procedure for the issuance of such bonds as provided for in said Section 1210. Pursuant to said Section 1210 of the City Charter, said Ordinance No. 2980 and the resolution of issuance, Resolution No. 72R-83 the payment of the interest on and principal of said bonds and any premiums upon the redemption of any thereof shall be and are secured by an exclusive pledge, charge and lien upon the gross revenues of the entire electric system of the City of Anaheim, including all improvements and extensions later constructed or acquired and all of the gross revenues of the electric system are pledged, charged and assigned for the security of said bonds, and such gross revenues and any interest earned on the gross revenues shall constitute a trust fund for the security and payment of the interest on and principal of said outstanding bonds and so long as any of the bonds or interest thereon are unpaid said gross revenues and interest thereon shall not be used for any other purpose, except as permitted by said Resolution No. 72R-83 TERMS OF SALE ...,...,.... Interest Rate: The maximum rate bid may not exceed ..-... July of each year. Each rate bid must be a multiple of one twentieth of one percent (l/20th of 1%) or one-eighth of one percent (1/8th of 1%). No bond shall bear more than one interest rate, and all bonds of the same maturity shall bear the same rate. Only one coupon will be attached to each bond for each installment of interest thereon, and bids pro- viding for additional or supplemental coupons will be rejected. Award: The bonds shall be sold for cash only. All bids ~t be for not less than all of the bonds hereby offered for sale and each bid shall state that the bidder offers par and accrued interest to date of delivery, the premium, if any, and the interest rate or rates not to exceed those specified herein, at which the bidder offers 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 thereby, which shall be considered informative only and not a part of the bid. , ..-... Highest Bidder: The bonds will be awarded to the highest responsible bidder or bidders considering the interest rate or rates specified and the premium offered, if any. The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the City would be required to pay from the date of said bonds to the respective maturity dates thereof at the coupon rate or rates specified in the bid, and the award will be made on the basis of the lowest net interest cost to the City. The purchaser must pay accrued -, ......... bonds will be borne by the City. Right of Rejection: The City reserves the right, in its discretion, to reject any and all bids and, to the extent not prohibited by law, to waive any irregularity or informality in any bid. Prompt Award: The City will take action awarding the bonds or rejecting all bids not later than twenty-six (26) hours after the time herein prescribed for the receipt of proposals, provided that the award may be made after the expiration of the specified time if the bidder shall not have given to the City Council notice in writing of the withdrawal of such proposal. Place of Delivery: Delivery of said bonds will be made to the successful bidder at Jeffries Banknote Company, 1330 West Pica Boulevard, Los Angeles, California, or at any other place agreeable to both the City Treasurer and the successful bidder. ,..-... Prompt Delivery -- Cancellation for Late Delivery: It is expected that said bonds will be delivered to the suc- cessful bidder within thirty (30) days from the date of sale thereof. The successful bidder shall have the right, at his option, to cancel the contract of purchase if the City shall fail to execute the bonds and tender them for delivery within sixty (60) days from the date herein fixed for the receipt of bids; and, in such event, the successful bidder shall be entitled to the return of the check accompanying ..... ....... ..."....... Form of Bid: Each bid, together with the bid check, must be in 8 sealed envelope, addressed to the City with the envelope and bid clearly marked: ''PROPOSAL FOR THE CITY OF ANAHEIM ELECTRIC REVENUE BONDS, ISSUE OF 1972". Bid Check: A certified or cashier's check on a responsible bank or trust company in the amount of $160,000 payable to the order of the City must accompany each pro- posal as a guarantee that the bidder, if successful, will accept and pay for said bonds in accordance with the terms of his bid. The check accompanying any accepted proposal shall be applied on the purchase price; or, if such proposal is accepted but not performed (unless such failure of perform- ance shall be caused by any act or omission of the City), shall then be cashed and the proceeds retained by the City. The check accompanying each unaccepted proposal will be returned promptly. ,...-. Change in Tax Exempt Status: At any time before the bonds are tendered for delivery the successful bidder may 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 pre- sent 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 shall be required to be taken into account in computing federal income taxes by the terms of any federal income tax law enacted subsequent ..,.,..... . ""...... ......... Legal Opinion: The unqualified opinions of Rutan & Tucker, Bond Counsel, Santa Ana, California, and Orrick, Herrington, Rowley & Sutcliffe, Bond Counsel, San Francisco, California, approving the validity of said bonds will be furnished the successful bidder at or prior to the time of delivery of the bonds, at the expense of the City. Copies of said opinions, certified by an officer of the City by his facsi~le 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 delivery of said bonds, the City will furnish the successful bidder a certificate that there is no litigation pending affecting the validity of the bonds. INFORMATION AVAILABLE: Reques ts for information should be addressed to: WAINWRIGHT & RAMSEY INC. 70 Pine Street New York, N. Y. 10005 and 7325 Woodrow Wilson Drive Los Angeles, CA. 90046 and 58 Sutter Street San Francisco, CA. 94104 Dene M. Daoust City Clerk, City of Anaheim 204 East Lincoln Avenue Anaheim, CA. 92805 GIVEN by order of the City Council of the City of Anaheim, California, adopted March 14, 1972. ....... ........... 14th day of ADOPTED, SIGNED AND APPROVED this March 1972. ----- (SEAL) ,.-- ~ ATTE ST : ~~ANAHEIM .""...... .~ STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SSe CITY OF ANAHEIM ) I, DENE M. DAOUST, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 72R-84 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim, 14th day 0 f March , 1972, by the held on the following vote of the members thereof: AYES: COUNCILMEN Roth, Pebley, Thom and Stephenson NOES: COUNCILMEN None ABSENT: COUNCILMEN Dutton Pro Tem AND I FURTHER CERTIFY that the Mayor/of the City of Anaheim approved and signed said Resolution No. 72R-84 on the 14th day of March , 1972. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 14th day of March 1972. n ~ /() ~C~ ~~ ANAHEIM (SEAL) ..."..,."...... 1, DENE M. DAOUST, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of Resolution No. 72R-84 duly passed and 03,:1""'........,:1 h'17 ....h.... Anaho-fm "-ff-'7 f'1nnn".-fl nn 'Ma,..",h 1l.. lQ7?