ARA1977-049OLU L i J. A it 7 7_ 49
A ?ESOLU` IO- i OF l A1`A-H I' . —H Z TE 7 .1` -�' AG yCY
DECLA IAG IT SS Ti1Ti i1T1O�1 1 S ,LL B'01vDS On SAID
AGi i1CY L'1 'at i1 A !OU ?�' On ti 30, 000, 000 t III G TI , !E
AND PLACE F0'R �'A�:Ti1G :SIDS A tD DIPEC`.i'I - G PUBLICATIOil
OF ivOTICL I'ffITI'_1G BIDS.
iHEREAS, this Agency deems it prover and the
necessity therefor appears that bids be invited f -or the
purchase of its a 30, 000, 000 Redevelopment Project Alpha �T1.
Allocation Bonds, Series A, (the "Ponds "), and that if bids
are satisfactory the Bonds be sold in the iianner and at the
time and place hereinafter set forth.
i1O'l, THEREFORE, the Anaheim Redevelopment Agency
DOES ilE RESOLVE as follows
Section 1. Sealed bids for the purchase of the
Bonds shall be received by the Agency at the time and place
hereinafter set forth in the 14otice Inviting Bids.
Section 2. The Secretary is hereby authorized and
directed to publish said i4otice Inviting Bids by one insertion
in the Anaheim Bulletin, a newspaper of general circulation in
the City of Anaheim, California, said publication to be at
least five days prior to the date of opening bids stated in
said Notice.
Section 3. The Secretary is further authorized and
directed to cause to be furnished to prospective bidders
copies of said ilotice Inviting Bids to,ether with copies of
the Official Statement relating to the Bonds and conies of
the resolution authorizing issuance of the Bonds; but the
failure, in whole or in part, to co: with this section
shall not in any manner affect the validity of the sale of
said Bonds.
Section 4. Said notice shall be in substantially
the form attached 'hereto as Exhibit " A " (consistin; of two
pages).
T iE FOREGOING P �SOLUi'TOi is annroved and si ned by
Tae this 12th day of July, 1977
C HA _ "-IA1v
A14HEI1i REDLVE;LOPP!ENT AGE 1
ATTES
SECRETARY
AilArlt�It1 i�i;DLVE�LOP1 /iL - !r2 AGENCY
'`ES :jh
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA77 -49 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 12th day of July, 1977, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Kaywood, Kott, Roth and Thom
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: Seymour
AND I FURTJIER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency approved and signed said Resolution on the 12th day of July, 1977.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 12th day of
July, 1977.
SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)
7/12/77
NOTICE INVITING BIDS ON
$30,000,000 TAX ALLOCATION BONDS OF THE
ANAHEIM REDEVELOPMENT AGENCY
NOTICE IS HEREBY GIVEN that sealed proposals for
the purchase of $30,000,000 par value tax allocation bonds of
the Anaheim Redevelopment Agency will be received by said
Agency at the place and up to the time below specified.
TIME: Wednesday, July 27, 1977
10:00 o'clock A.M.
PLACE: Council Chambers
City Hall
204 East Lincoln Avenue
Anaheim, California
MAILED BIDS: Mailed bids should be addressed to:
Anaheim Redevelopment Agency
c/o Linda D. Roberts, Secretary
City Hall
204 East Lincoln Avenue
Anaheim, California 92803
OPENING OF BIDS: The bids will be opened at the time
and place shown above and will be
presented to the Agency at its meeting to be held later on the
same date at the same place.
ISSUE: $30,000,000 designated "Redevelopment Project
Alpha Tax Allocation Bonds, Series A," consisting
of 6,000 bonds, numbered A -1 to A -6000, both inclusive, of
the denomination of $5,000 each, dated August 1, 1977.
MATURITIES: The bonds will mature in consecutive numer-
ical order on August 1 in the amounts for
each of the several years as follows:
Principal Principal
Year Amou Y ear Am ount
1981 ..
$ 620,000
1987 ..
$ 890,000
1982 ..
655,000
1988 ..
945,000
1983 ..
700,000
1989 ..
1,005,000
1984 ..
740,000
1990 ..
1,065,000
1985 ..
790,000
1991 ..
1,135,000
1986 ..
835,000
2003 ..
20,620,000
INTEREST: The bonds shall bear interest at a rate or rates
to be fixed upon the sale thereof but not to
exceed 8% per annum, payable semiannually on February 1
and August 1.
PAYMENT: Said bonds and the interest thereon are payable
in lawful money of the United States of Amer-
ica at the corporate agency division of Bank of America Na-
tional Trust and Savings Association, Fiscal Agent for the
Agency, in Los Angeles, California, or, at the option of the
holder, at the office of any Paying Agent of the Agency in
Los Angeles or San Francisco, California, New York, New York,
or Chicago, Illinois.
REGISTRATION: The bonds will be coupon bonds regis-
trable as to principal only or as to both
principal and interest, and the form of registration may be
changed, and any registered bond may be discharged from
registration, all in the manner and with the effect set forth in
the resolution providing for the issuance of the bonds (herein-
after referred to as the "Resolution ") adopted on July 12, 1977.
REDEMPTION: The bonds maturing on or prior to August 1,
1987, shall not be subject to call or redemp-
tion prior to maturity. The bonds maturing on or after August
E: eURBIT - - --
- - -• A ...........:..
Pu .-- - -.... ... .. a ..... R
...
1, 1988, may be called before maturity and redeemed at the
option of the Agency on August 1, 1987, or on any interest
payment date thereafter prior to maturity, from any source of
funds, as a whole or in part in inverse order of maturity and
by lot within a maturity, at the following premiums (percentage
of par value) :
Redemption Dates Premium
August 1, 1987 and February 1, 1988 ......
2%%
August 1, 1988 and February 1, 1989 ......
2 %
August 1, 1989 and February 1, 1990 ......
1 %, %
August 1, 1990 and February 1, 1991 ......
1 %
August 1, 1991 and February 1, 1992 ......
%%
August 1, 1992 and thereafter ............
0 %
PURPOSE The bonds are to be issued by the Agency under
OF ISSUE- and pursuant to the Community Redevelopment
Law of the State of California ( Part 1 of Divi.
s'on 24 of the Health and Safety Code) to aid in financing a
redevelopment project in the City of Anaheim, known as
Redevelopment Project Alpha.
SECURITY: The bonds are payable, both principal and in-
terest, solely from Tax Revenues (as defined in
the Resolution) and from certain other limited funds as pro-
vided in the Resolution. The bonds are not obligations of the
City of Anaheim or the State of California.
TERMS OF SALE
Interest Rate: The maximum rate bid may not exceed 8% per
annum, payable semiannually. Each rate bid
must be a multiple of 1 /a or 1/20 of 1%. No bond shall bear
more than one interest rate, and all bonds of the same maturity
shall bear the same rate. Each bond must bear interest at the
rate specified in the bid from its date to its fixed maturity
date. Only one coupon will be attached to each bond for each
installment of interest thereon, and bids providing for addi-
tional or supplemental coupons will be rejected. The rate on
any maturity or group of maturities shall not be more than
1 1 /2% higher than the interest rate on any other maturity or
group of maturities.
Award: The bonds shall be sold for cash only. All bids must
be for not less than all of the bonds hereby offered
for sale and each bid shall state that the bidder offers accrued
interest to the date of delivery, the purchase price, which shall
not be less than 98% of par, and the interest rate or rates at
which the bidder offers to buy the 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; Bond Printing: The bonds will be awarded to
the highest responsible bidder
or bidders considering the interest rate or rates specified and
the premium or discount offered, if any. The highest bid will
be determined by deducting the amount of the premium bid
(if any) from, or adding the amount of the discount (if any)
to, the total amount of interest which the Agency 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 to the bidder or bidders
offering the lowest net interest cost to the Agency. The pur-
chaser must pay accrued interest ( computed on a 360 -day year
basis) from the date of the bonds to the date of delivery. The
cost of printing the bonds will be borne by the Agency.
7/12/77
Right of The Agency reserves the right, in its discretion, to
Rejection: reject any and all bids and to the extent not
prohibited by law to waive any irregularity or
informality in any bid.
Prompt The Agency will take action awarding the bonds
Award: or rejecting all bids not later than 26 hours after
the time herein prescribed for the receipt of pro-
posals; provided that the award may be made after the expira-
tion of the specified time if the bidder shall not have given to
the Agency notice in writing of the withdrawal of such proposal.
Place of Delivery of said bonds will be made to the
De ivery and successful bidder at the principal office of the
Funds for Fiscal Agent in Los Angeles, California, or at
Payment: such. other place as may be agreed upon by
the successful bidder and the Treasurer of the
Agency.
Payment for the bonds shall be made in Federal Reserve
Bank funds or other immediately available funds.
Prompt Deliverv; It is expected that said bonds will be de-
Cancellation for livered to the successful bidder on or about
Late Delivery: August 17, 1977. The successful bidder
shall have the right, at his option, to cancel
the contract of purchase if the Agency shall fail to execute the
bonds and tender them for delivery within 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 his bid. The Agency expects to make such
delivery in the form of definitive bonds, but reserves the right
to make such delivery in the form of temporary bonds, ex-
changeable for definitive bonds, at no cost to the purchaser.
Form of Bid: Each bid, together with the bid check, must be
in a sealed envelope, addressed to the Agency,
with the envelope and bid clearly marked "Proposal for Rede-
velopment Project Alpha Tax Allocation Bonds."
Bid Check: A certified or cashier's check on a responsible
bank or trust company in the amount of $250,000,
payable to the order of the Agency, must accompany each
proposal as a guaranty 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 performance shall be caused
by any act or omission of the Agency, shall then be cashed and
the proceeds retained by the Agency. The check accompanying
each unaccepted proposal will be returned promptly.
Change in At any time before the bonds are tendered for
Tax Exempt delivery, the successful bidder may disaffirm
Status: and withdraw the proposal if the interest re-
ceived 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 terms
of any federal income tax law enacted subsequent to the date
of this notice.
Closing Papers; Each proposal will be understood to be con -
Legal Opinion: ditioned upon the Agency furnishing to the
purchaser, without charge, concurrently with
payment for and delivery of the bonds, the following closing
papers, each dated the date of delivery:
EXHIBIT ..........
>1�....:.. .
R u ......... ...... G F ..... . -. �:. ..
(a) The opinion of O'Melveny & Myers of Los
Angeles, California, Bond Counsel, approving the validity
of the bonds and stating that interest on the 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.
(A copy of said opinion of O'Melveny & Myers, certified
by an officer of the Agency by facsimile signature, will be
printed on the back of each bond. No charge will be made
to the purchaser for such printing or certification.);
(b) A certificate of the Agency certifying that on the
basis of the facts, estimates and circumstances in existence
on the date of issue, it is not expected that the proceeds of
the bonds will be used in a manner that would cause the
bonds to be arbitrage bonds;
(c) A certificate of the Agency signed by officers and
representatives of the Agency certifying to the following:
(1) that said officers and representatives have signed the
bonds, whether by facsimile or manual signature, and that
they were respectively duly authorized to execute the same;
and (2) that there is no litigation threatened or pending
affecting the validity of the bonds;
(d) The receipt of the Agency showing that the pur-
chase price of the bonds, including interest accrued to the
date of delivery thereof, has been received by the Agency.
Official The Agency will furnish to the successful bidder
Statement: as many copies of the Official Statement as said
bidder shall request. No charge will be made to
the successful bidder for the first 300 copies of the Official
Statement.
The Agency will deliver to the successful bidder, at the
time of delivery of the bonds, a certificate of the Executive
Director of the Agency, acting in his official and not his
personal capacity, to the effect that at the time of the sale of
the bonds and at all times subsequent thereto up to and
including the time of the delivery of the bonds, the Official
Statement relating to the bonds did not contain any untrue
statement of a material fact or omit to state a material fact
necessary to make the statements therein, in light of the circum-
stances under which they were made, not misleading.
CUSIP Numbers: It is anticipated that CUSIP numbers will
be printed on the bonds, but neither the
failure to print such numbers on any bond nor error with
respect thereto shall constitute cause for failure or refusal by
the purchaser thereof to accept delivery of and pay for the
bonds in accordance with the terms of the purchase contract.
All expenses of printing CUSIP numbers on the bonds shall be
paid by the Agency, but the CUSIP Service Bureau charge for
the assignment of said numbers shall be paid by the purchaser.
INFORMATION Requests for information concerning the
AVAILABLE,: Agency should be addressed to Municipal
Department, Blyth Eastman Dillon & Co.
Incorporated, 555 California Street, San Francisco, California
94104.
GIVEN by order of the Anaheim Redevelopment Agency,
adopted July 12, 1977.
Secretary of the Anaheim Redevelopment Agency