90-294 CITY OF i~NAHEIM RESOLUTION NO. 90R-294
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIMv C~LIFORNIA, ACCEPTING A BID FOR THE
PURCHASE OF ITS $9,000~000 WATER REVENUE BONDS~
1990 SERIES; REJECTING ALL OTHER BIDS; APPROVING
THE FORM OF THE OFFICIAL STATEMENT; AND TAKING
CERTAIN RELATED ACTION
WHEREAS, 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
requirements of law has heretofore adopted, on July 10, 1990,
Resolution No. 90R-238 ("Resolution No. 90R-238"), entitled:
"Resolution of the City Council of the City of Anaheim,
California Authorizing the Invitation of Proposals for
the Purchase of $9,000,000 Water Revenue Bonds, 1990
Series of Said city; Approving the Form of the Official
Bid Form, the Notice Inviting Bids, 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 Inviting Bids";
and
WHEREAS, this City Council, in compliance with all
requirements of law has heretofore adopted, on July 24, 1990,
Resolution No. 90R-278 (together with Resolution No. 90R-238, the
"Proposal Resolution"), entitled:
"Resolution Amending Resolution No. 90R-238 to Change
Date for Receiving Bids for Water Revenue Bonds, 1990
series"; and
WHEREAS, this City Council, in compliance with all
requirements of law has heretofore adopted Resolution No. 90R-293
(the "Bond Resolution"), entitled:
"Resolution of the City Council of the City of Anaheim,
California, Authorizing the Issuance of $9,000,000 Water
Revenue Bonds, 1990 Series, of the City and Providing the
Terms and Conditions of such Bonds"; and
WHEREAS, this City Council deems it necessary to sell at
this time $9,000,000 principal amount of Bonds as authorized by the
Bond Resolution.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM,
CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. Compliance with Conditions Precedent. All
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 8ell Bonds and Notice
Inviting Bids. 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 Inviting Bids was published as
required by the Proposal Resolution. Pursuant to the Notice
Inviting Bids and the Notice of Intention to Sell Bonds, proposals
have been received, opened, read and examined.
Section 3. Successful Bidder. The proposal for the
purchase 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. All Other Proposals Rejected. All 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. The Bonds shall
be delivered to the successful bidder upon payment of $8,910,000
therefor, plus accrued interest from July 1, 1990 to the date of
delivery of the Bonds.
Section 7. Ratification. All actions and proceedings
heretofore taken in connection with the authorization, issuance and
sale of the Bonds are hereby ratified and confirmed.
Section S. Official Statement Approved. A final
Official Statement dated August 14, 1990 (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 or any Public Utilities Assistant General
Manager shall approve (such approval to be conclusively evidenced
by the execution and delivery thereof by the Public Utilities
General Manager or a Public Utilities Assistant General Manager),
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 make the statements therein not
misleading. The Mayor, the city Manager and the Public Utilities
General Manager or any Public Utilities Assistant General Manager
are hereby authorized 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 Furnishe4. 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, each Public Utilities Assistant
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.
ADOPTED, SIGNED AND APPROVED this fourteenth day of
August, 1990.
(SEAL)
ATTEST: ~
city Cler
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 90R-294 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 14th day of August, 1990, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Daly, Ehrle, Kaywood, Pickler and Hunter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 90R-294 on the 15th day of August, 1990.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 15th day of August, 1990.
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 90R-294, duly passed and
adopted by the Anaheim City Council on August 14, 1990.
~ITY CLERK OF OF ANAHEIM
OFFICIAL BID FORM EXHIBIT A
Proposal For the Purchase of
$9,000,000
City of Anaheim, California
Water Revenue Bonds, 1990 Series
August 14, 1990
Office of the City Clerk
City of Anaheim
Room 217
200 South Anaheim Blvd.
Anaheim, California 92805
Ladies and Gentlemen:
On behalf of an under~vviting syndicate which we have formed, headed by the undersigned, and in
accordance with the terms and conditions of the attached Notice Inviting Bids, dated July 26, 1990,
which is hereby made a part of this proposal, we offer to purchase all of the $9,000,000 aggregate
principal amount of City of Anaheim, California Water Revenue Bonds, 1990 Series (the "Bonds"),
to be dated July 1, 1990 ~ind we will pay as the purchase price therefore, the aggregate sum of
~tCw~plT ~'~ l ~-t O~ All tV~' ;~dA/~)f~5.g) ~'~t4 7740~.%4-,o~ · Dollars
($ ~Jz q/~ 000. O0 ), at the time of delivery, in immediately available Fed-
eral Reserve Funds, plus accrued interest from July 1, 1990 to the delivery date of the Bonds.
SCHEDULE OF PRINCIPAL INSTALLMENTS
AND INTEREST RATES
The Bonds shall be payable in the Principal Amounts (as either maturities ¢c Sinking Fund
Installments) and shall bear interest at the rates set forth in the following schedule:
Due Pr~nclpal Interest Due Principal Interest
October 1 Amount* Rate October 1 Amount* Rate
1992 ...... $150,000 ~. Z__~o 2005 ....... $340,000
1993 ....... 155,000 ~____~ 2006 ....... 365,000
1994 ....... 165,000 2007 ...... 390,000
1995 ....... 180,000 2008 ....... 415,000
1996 ....... 190,000 ~,. 7. g' 2009 ...... 445,000 '~_ 0
1997 ....... 200,000 ~, 35 2010 ....... 480,000 ~ oo
1998 ....... 215,000 ~oq.)' 2011 ....... 510,000
1999 ....... 230,000 ~. 5~' 2012 ....... 550,000
2000 ....... 245,000 ~,. b $' 2013 ....... 590,00~) 7- O0
2001 ....... 260,000 ~ 2014 ....... 630,000
2002 ....... 280,000 2015 ....... 675,000 '~.
2003 ....... 295,000 ~. ~O 2016 ....... 725,000
2004 ....... 320,000 ~, 90
* The bidder may stipulate the Principal Amounts as Sinking Fund Installments in the space provided
herein under "Term Bonds." If'the Principal Amounts are stipulated as Sinking Fund Installments,
indicate the rate of interest for the Term Bond(s) next to all such Principal Amounts.
TERM BONDS
The following schedules are for the purpose of designating any mandatory Sinking Fund Install*
ment 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.
Sinking Fund Installment Due Term Bond Maturity
From October i,~-.~' to October 1, ~)/~) October 1, ~-~9! ~
From October 1,2o[! to October 1, ~Q/~ October 1, 2o~
From October 1, __ to October 1, __ October 1, __
We enclosed herewith a certified, bank cashier's or treasurer's check, drawn on a California bank
or trust company in the amount of $90,000, payable to the order of the City ~-.f Anaheim, California,
which check is to be applied as partial payment for the Bonds or returned to us in accordance with the
terms outlined in the Notice Inviting Bids.
Accepted and agreed to Respectfully submitted,
August 14, 1990
Lehman Brothers
The City of Anaheim (~ ~~ ~
By By B~adford S. Thi~
Title Title Vice President
The following is for information only and is not part of this bid:
The toiml amount of interest payable on the Bonds during the life of the issue under this Proposal
is $ /4 ~77/ 273. ;..~' . For the I~urpose of determining such amount of interest, the
Bonds are deemed to mature in the amounts and on the dates set forth in the Schedule of Principal
Amounts contained in the Notice Inviting Bids.
Effective interest rate for the Bonds calculated as described in the Notice Inviting Bids is
7. OZZ& %.
The above mentioned check has been returned and receipt thereof is duly acknowledged.
Bidder
By
Title
LIST OF SYNDICATE MEMBERS
(Subject to change by the bidder prior to delivery of the Bonds)
Lehman Brothers )
) Co-Managers
Stone & Youngberg )
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