HomeMy WebLinkAboutCity of Tamarac Resolution R-95-229Temp Reso. 7237
(Rev. 10/17/95)
CITY OF TAMARAC
RESOLUTION NO. R-95- 9;aj
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA AUTHORIZING THE SELECTION
OF RAYMOND JAMES & ASSOCIATES, INC., FOR
UNDERWRITER SERVICES IN CONNECTION WITH THE
REFINANCING OF THE WATER AND SEWER UTILITY
REVENUE AND REFUNDING BONDS, SERIES 1985;
PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the City Commission has determined that underwriter services is
necessary and appropriate for the structure and issuance of refunding bonded debt;
and
WHEREAS, the City Administration solicited informal proposals from qualified
firms; and
WHEREAS, seven underwriter firms of Raymond James & Associates, Inc.,
Prudential Securities, Smith Barney, Bear Stearns, SunBank, William R. Hough & Co.,
and First Union submitted an analysis to the City on the refunding; and
WHEREAS, a review committee comprised of Finance Staff and the City's
Financial Advisor, Florida Municipal Advisors, reviewed and evaluated the proposals;
and
WHEREAS, the committee considered the level of savings, the level of the
proposed interest rates, and the type of structure in the analysis; and
WHEREAS, The City Manager and Finance Director along with the City's
Financial Advisor, after due consideration, recommend the firm of Raymond James &
Associates, as underwriter for refinancing of the Water and Sewer Utility Revenue and
Refunding Bonds, Series 1985 for providing the most aggressive savings to the City
with the least complicated structure; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be
in the best interest of the citizens and residents of the City of Tamarac to approve the
firm of Raymond James & Associate, Inc. as the manager of the refinancing issue.
-r". Reso. 7217
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
Section 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as
being true and correct and are hereby made a specific part of this resolution.
Section 2: The selection of the firm of Raymond James & Associates, Inc. as managing
underwriter is hereby authorized.
Section 3: All resolutions or parts of resolutions in conflict herewith are hereby repealed
to the extent of such conflict.
Section 4: If any clause, section, other part or application of this Resolution is held by
any court of competent jurisdiction to be unconstitutional or invalid, in part or in
application, it shall not affect the validity of the remaining portion or applications of this
Resolution.
Section 5: This Resolution shall become effective immediately upon its adoption.
PASSED, ADOPTED AND APPROVED this .;6 day of OdI2 , 1995.
ATTEST:
dLZ�2 =f� ,
CAROL A. EVANS, CMC
CITY CLERK
I HEREBY CERTIFY that I have
approved this Resolution as
to form.
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I ELL S. K4k#T
CITY ATTORNEY
Finance/IP
• - . 'k •IN
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RECORD OF COMMI§SION VOTE
MAYOR
ABRAMOWIiZ
DIST. 1:
V / M KATZ
DIST. 2:
COMM. MISHKIN
DIST. 3:
COMM. SCHREIBER
DIST. 4:
COMM. MACHEK