80R-073
CITY OF ANAHEIM
(
\
RESOLUTION NO. 80R-73
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ANAHEIM, CALIFORNIA
AMENDING RESOLUTION NO. 80R-40
WHEREAS, this City Council heretofore adopted
its Resolution No. 80R-40, authorizing the invitation of
proposals for the purchase of $7,350,000 Water Revenue
Bonds, 1980 Series, of the City of Anaheim, and approving
the form of Notice of Sale of said Bonds; and
WHEREAS, said Notice of Sale (Exhibit A to said
Resolution No. 80R~40) was thereafter published in the
Anaheim Bulletin and copies thereof were furnished to
prospective bidders in accordance with said Resolution;
and
WHEREAS, said Notice of Sale provided, inter
alia, that all proposals must De for not less than 98%
of the par value of said Bonds; and
WHEREAS, the City's Financial Advisor, James J.
Lowrey & Co., Incorporated, subsequently recommended to
the General Manager of the Public Utilities Department
+~~._.._..~""-_.",..,,,,,-,_... '_~._~_~'_'e;~'___~"""'''''''-'"''<,,,
that, as a result of sudden adverse developments in the
municipal bond market, the Notice of Sale be amended to
permit proposals for not less than 94% of the par value
of said Bonds; and
WHEREAS, the General Manager has caused notice
of such amendment to be published in The Bond Buyer and
otherwise communicated to prospective bidders by telephone
and Munifacts wire service;
NOW, THEREFORE, the City Council of the City
of Anaheim, California, DOES HEREBY RESOLVE, DETERMINE
AND ORDER as follows:
Section I. Resolution No. 80R-40 is hereby
amended as follows: Exhibit A, the Notice of Sale, is
amended by changing the minimum bid requirement, stated
on page 6 thereof, from "98% of par" to "94% of par."
In all other respects, said Resolution and said Notice
of Sale shall remain unchanged.
Section 2. The actions heretofore caused to
be taken by the General Manager, as described in the
recitals hereof, are hereby confirmed and ratified, and
2.
.~",,,,",,",,,..,,.'___ .......,_."',...;=_..="""'.,~_. .....___"-_O'.,_...,..",.~.~,_.,_____..."
this City Council is satisfied that adequate measures have
been taken to assure a competitive sale of said Bonds.
ADOPTED, SIGNED AND APPROVED this 26th day of
February, 1980.
ATTEST:
.~~~.J~~-/
City Cle
(SEAL]
3.
,_..---.--'"-<,.....,_..._~_..--_...., ......._.,""'-~~...."..._'I - -__t ..;......._....,,~..""_~___~,_.