ARA1980-036RESOLUTION NO. ARA80- 36
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY
AMENDING RESOLUTION NO. ARA80 -35
The Anaheim Redevelopment Agency DOES HEREBY RESOLVE,
DETERMINE AND ORDER as follows:
Section 1. Resolution No. ARA80 -35 of this Agency,
adopted on October 7, 1980, is hereby amended by amending
Exhibit A thereto as follows:
(a) The following paragraph is added immediately
following the paragraph entitled "SECURITY ":
"BOND INSURANCE: The Agency has applied to the
American Municipal Bond Assurance Corporation,
an insurance corporation in the City of New
York ('AMBAC'), for qualification of the
bonds for debt service insurance."
(b) The paragraph entitled "Award" is amended to read
as follows:
" 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 be not less than 950 of par (including
the debt service insurance premium, if such
insurance is specified in the bid, as set forth
below), 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."
- a -
(c) The paragraph entitled "Highest Bidder; Bond
Printing" is amended to read as follows:
" Highest Bidder; Bond Printin : 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. Should the bonds
be eligible for debt service insurance and such
insurance is specified by the bidder, any insurance
premium paid by the Agency will be considered as a
discount for purposes of calculating net interest
cost under such bid.
ADOPTED, SIGNED AND APPROVED this 14th day of October, 1980.
ATTEST:
Chairman of tKe Anaheim
Redevelopme Agency
. v �� r
Seci+etary of the'Anaheim
Redevelopment Agency
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. ARA80 -36 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 14th day of October, 1980, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency signed said Resolution on the 14th day of October, 1980.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 14th day of
October, 1980.
Lxo� Ezc�� -
SECRETA11Y OF THE ANAHE EDEVELOPMENT AGENCY
(SEAL)