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HomeMy WebLinkAboutCity of Tamarac Resolution R-90-124Temp. Reso. #5782 Revised 4/25/90 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-90 �aZ A RESOLUTION AUTHORIZING THE CITY MANAGER AND THE FINANCE DIRECTOR TO SIGN SUBSCRIPTION FOR PURCHASE AND ISSUE OF UNITED STATES TREASURY SECURITIES - STATE AND LOCAL GOVERNMENT SERIES; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Tamarac advance refunded the 1980 Water and Sewer Utility Revenue Bonds by proceeds from the 1985 Water and Sewer Utility revenue and refunding bonds; and WHEREAS, First Florida Bank of Tampa, Florida, is the Escrow Agent for the defeased 1980 Bonds; and WHEREAS, the Escrow Agreement provides that the Escrow Agent shall reinvest certain unexpended balances in excess of $1,000 in United States Treasury Obligations - State and Local Government Securities - at 0.00% and maturing on dates on which such balances or portion thereof will be required by the Escrow Agent; and WHEREAS, any balances in the Escrow Fund on each April 1 or October 1 shall be reinvested immediately so there will be no balances which remain uninvested; and WHEREAS, the Escrow Agent from time to time will require certain forms to be signed for presentation to the Federal Reserve Bank in order to comply with the requirement to reinvest unexpended funds. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: That the City Manager and the Finance Director are hereby authorized to sign the following documents, when and if, presented by the Escrow Agent: 1. Subscription for Purchase and issue of United States Treasury Securities- State and Local Government Series: a. United States Treasury Certificates of Indebtedness b. United States Treasury Notes c. United States Treasury Bonds 2. Certification Attachment SECTION 2: This Resolution shall become effective immediately upon adoption. 14-1 PASSED, ADOPTED AND APPROVED this Z5 day of 1990. ATTEST: CAROL A. EVANS CITY CLERK I HEREBY CERTIFY that I have approved is RESOLUTION as t m. AL RUE INTERIM ITY ATTORNEY r - NORMAN ABRAMOWITZ MAYOR RECORD OF COUNCIL VOTE MAYORABRAMOWITZ DISTRICT 1: CIM ROHR DIS T RICT 2: C'�" SCH�MANN D;STR?ICT 3: Vl%fl HOFFMAN DICTP,ICT 4: CIM BENDER MOTIpN TQ ADOPT Tem Reso. V D rector to execute carts n M57BZ authoriring the Finance issue of U.S, Treasu °dents for purchase and Escrow Agreement with Ffrskrities as required by the Pertaining to the National Bank of Tampa ITEM #REF.. Refunding Bonds, I985 Water and Sewer Utility Revenue and DATE %O- TAPE SIDE #� - - - - - - - - - - - - - - - - - - - - - - - - - - - - VOTE: DISTRICT 2 -- C/M SCHUMANN DISTRICT 3 - V/M HOFFMAN DISTRICT 4 - C/M BENDERI�- DISTRICT 1 - C/M ROAR MAYOR ABRAMOWITZ MOTION BY: SECONDED BY: /`%/,G �• • `, im.. PRESENTED SYs ACTION REQUESTED: MAJOR SPEAKERS/PERTINENT DISCUSSION: w-wr. �.. , rn+ ,� ��is� ". , � "'•.grr:�X". �.g4?°M,S �r+y^wr PROPOSED CITY COUNT City Council meeting of: 25 Item Title: AGENDA ITEM / Cum off date: /1 The Initiating Department Head Is to mark parentheses ( ) below for each department their approval In order for this Item to City Council agenda: Department Initials for Approval an "X" between the that must initial be placed on the Date YJ 17 Q ( v/ . City Attorney (� City Manager ( ) Building Departmen C,/ (✓) City Clerk ( ) Community Development ( /) Engineering/Utilities tj-16LO Finance ( ) Fire ( ) Personnel/Insurance ( ) Police ( ) Public Works/Recreatlon ( ) Purchasing Funding Source Initiating Department Head Signature Dad, q ----------------------------------------------------------------------- This form Is to be completed PRIOR to all backup being forwarded to the City Clerk for the Council Agenda packets. Doc: Checklist 5/89 FL)kM Pp 4144 JuoJl.nlr 1 tuft♦ rum rumurioAbr Hitill IAJUL 1r• Peet. or the T(easurri U.S. TREASURY SECURITIES our, of the Public Debt (Rev. -July 19479) STATE AND LOCAL GOVERNMENT SERIES r To: federal Reserve Bank or Branch at Jacksonville. 1. Pursuant to the provisions of Department of the Treasury Circular, Public Debt Series No. 3-72, current revision, the undersigned hereby subscribes for the purchase of the following Securities: a. fR United States Treasury Certificates of indebtedness State and Local Government Series (SCHEDULE 1) 00 TOTAL AMOUNT S 9,309, b. ❑ United States Treasury Notes — State and Local Government Series (SCHEDULE 2) TOTAL AMOUNT `n c. ❑ United States Treasury Bonds — State and Local Government Series (SCHEDULE 3) TOTAL AMOUNT S GRAND TOTAL $ 9.100-00 as described on the attached schedules, which are incorporated by reference to this subscription, to be used as enUtes on the books of the Bureau of the Public Debt, Department of the Treasury. 2. The undersigned certifies that the total investment (1) consists only of the proceeds of obligations described in Section ]03 a of the Internal Revenue Code, and (2) is not more nor less, within authorized multiples $1,000 minimum and incienients cil S100 over such amount) , directly subject to yield restrictions under Section 103(c) of the Code, and the regulations issued thereunder, except for any portion thereof required for a payment due less than 45 days from the date settirrmenl is made for the securities Subscribed for. the funds being invested are not derived from the early redemp- tion of other U. S. Treasury Securities -- State and Local Government Series. 3. The undersigned requests that book entry accounts be established for: Name of owner First SeVe Utilities Revenue Refunding 1985 Escrow _ 4. The undersigned: a, C1 submits payment in full herewith for the above securities, as shown below. b. k2 requests that issuance be deferred until MaY 10 (not to exceed by more than 60 days the date on which this subscription is received at a Federal Reserve Bank or Branch or. where mailed, by the stamp date appearing on the registered or certified mail envelope in which it is received), and agrees to make payment on that date. 5. The undersigned further certifies that the following official(s), by title(s), are authorized, subject to the provisions of the above circular, to request redemption prior to maturity of the securit+es (if no one has been so authorized, enter the word "none"). First Florida Bank N.A. Dated this$___,._,_.day of APKII 192(L City of Tamarac FL (Name of State or Locai Government Body) By (` 4nd1 Ir� ABOVE SECURI (The issue date of the account will be the date specified in this subscription, provided payment therefor in readily available funds is received herewith or within the time limitation specified above. Where payment is submitted separately, it should be accompanied by a copy of this subscription.) Name of Institution FIRST FL IAA- BANK,--N.A. 0 Check enclosed IXX Charge our reserve a/c on wMau ID city Tam a Stat ❑ Other (Date) Authorized signature and title r ^_ . _r0 —_'_ — y r FOR U E OF FEDERAL RESERVE BANK ACCOUNT NUMBERS Applicable Interest Issue Date Date credited to Treas. C OF 1'S: From: Through: Rate Table No. Acct. (cannot be subse- quent to Issue Date) NOTES: From: Through: BONDS: From: Through: FOR USE OF THE DIVISION OF SECURITIES OPERATIONS APProveo By Date J 0 'O '7 W � , W Z w Z LU 7 0 t) a U 0 ..1 z a w Q w- 0 1 Cl) C/) W Z W ti DO W LL 0 U) W H a U LU V cc 0 d W cn W h a En w z LL 0 W D W U U) i .:3 ma': OW LL. a a � O ` �^ �- 5 J a A .... w v � Q a � � w 7 � W C_ L C O O F LU N ••. S N � b V LL T 3 O O X z a ccU 0 O v� U N ❑ cc a E a O ^ o W m W I_ cc a a. 02 0)� cc LL a A m Ln O LL A T Cn C4 LUO F C N. x en Q V O ro � � o ti. y pa �n e n w � m a W CD CDco C4 cn Cq .0 �? w 0 �H en enF- W c N° Q U y x o � OC y c N 3 w In 44 � j + E z N d Q " ro 2 c m`n� �° 5 a: pro+ ►- ° c a z y a C LU> w LIt a N w F O y ,n 0 00 b z �; C OI O z C *' a O a A � OI a roc° r U E a q O CD I a ��nn N d Yb E d v m d w U. O d a D x I X a - a ' u 0 W W ro C G C C >. A Y oto v �+ na. Ep a r F Ln ►- � °i T ° '° a Z LL W 7 z d m w ro C Z rn �� r p uE j �^ LU 6 'w a ••+ -H `� N O �^- VJ Z a C L Q d~ O 0 M 0044 O N 1-1 X cn u a LL Q O 9 � tti LL cc m a W �d ar a�1 LLJ w 7 .N N �v�4 ro�+ ro z Wa �w a m C] C ' b ro .G Fw y wW O D o ❑ W w o u W } a ~U ©W z q Q z ►-' Ltj �0zco co>, w) c0 � a CL m C- T u p CL Lj z(� ,W uNi 4 U (-(i W ~® OA .` z } .J 0 W Vl I-- z W H a a uw } x 0 ca a W M M cc Y 0 LL. W rn a F N O a a ° � u w N. o a q, i uuJ O CA C)� VJ �s W H a Lcc P W a LU p I.- z c z O Qo J O a � en Q 2 O' a J CX00 m d U. h Dm O zz O0 U as m cc LL y..1 z O w x ❑ U w z Z a c) CC in 0 LA 0 m � CC O LL Z x �- O Z LL Z) 0 u u Q z J O z O LU CA D H z LULU C a} a n a ❑ W w c � J N co a r w 0 ac w x � O Z LL � 0 u u } O m H z W Z m 0� ° ca .j U O O J m O Lu Q N N LL 4 0 f- U, d iu a Z -j z �, SUBS,^.F.�F:'ID;: FDR PURCHASE OF L'. S Tltsr.SLJfiY SLCUR:': 1ES S:'A7E srit; Es TIME DEYpS:T SECUR.I71 S CERTIFI CF„I DN The undersigned certifies that, in addition to caw-_tifica" ons contained in 31 CFR 344.3 (c) , or,e of the following statem ents i� true ( check a or b ) n) no portion of the investment is being made (directly or indirectly) with amoutj,s that are to be used to discharge & tar,-exan'Pt bond issue and that nre der! ved or are to be derived (d-i recti ew indirectly)) from the sale cf securities af}lLer M p.m. (—E. ) 1hurvday, 01-rV.J Caw 44, p=cceeds of which were to be used to dischar-ae a tax-exempt- bond issue; aw b) Glthou4h a portion of the investment is being me6e (directly or indirectly) wi-h amounts that ::Z e 4o be used to discharge a tax-exempt bond issue and that are derived or are to be derived (directly o� indirectly) from the sale of securwties after 5 p.m. (EDT) Thursday, October 22, 1987, the proceeds of which were to be used to d,ischar ge a tar -exempt bond issue, the composite yield to r.�aturi ty a all investments being purchased v,# jth such emaunis does not exceed the composite yield to Msturity of the securities that were sold, based on the price at which they were sold. Thy- ur.ders{ cnec a_rees that this certi_`acation ws Part Of the at:.ached Subscription fcr Purchase in the amount cf r,U.300.00 , dated Mg„y1,0, 1990_^_-�. Dated this - Gay of Aril : 990 Citz of Tamarac, Florida fame of Gove,rn.Ile-Z Bodo 1 8v A;:t csized Government ":roc_ C fiCial ( 305 ) 722-5900 Ext. 54 -.rEe ;, Code r go � a y PROPOSED CITY COUNCIL AGENDA ITEM City Counc I I meeting eetIng of: Z 2.5/10 Cut off date. item Title: The Initiating Department Head Is to mark an "X" between the parentheses ( ) below for each department that must initial their approval In order for this Item to be placed on the City Council agenda: Department Initials for Approval Date ® ( v� City Attorney `� /7 (�/ ) City Manager ( o ( ) Building Departmen (�) City Clerk ( ) Community Development ( /) Engineering/Utilities ( ✓ ) Finance l4 Lo ( ) Fire ( ) Personnel/Insurance ( ) Police ( ) Public Works/Recreation ( ) Purchasing Funding Source Initiating Department Head Signature Da ----------------------------------------------------------------------- This form is to be completed PRIOR to all backup being forwarded to the City Clerk for the Council Agenda packets. Doc: Checklist 5/89 tUkM s•p 4144 Sur>J,mir I sviv ruri rur%L riA.)c hiIVV ram-L rI Dept, of the Treasury U.S. TREASURY SECURITIES — bur, of the Public Dtbt' (Rey. July IW7) STATE AND LOCAL GOVERNMENT SERIES To: federal Reserve Bank or Branch at Jaeksonvill F lgrida' 1, Pursuant to the provisions of Department of the Treasury Circular, Public Debt Series No. 3-72, current revision, the undetsigricd hereby subscribes for the purchase of the following securities: a. fR United States Treasury Certificates of Indebtedness — State and Local Government Series (SCHEDULE 1) TOTAL AMOUNTS 9 , 300.00 mg United States Treasury Notes -- State and Local Government Series (SCHEDULE 2) TOTAL AMOUNT S c. ❑ United States Treasury Bonds — State and Local Government Series (SCHEDULE 3) TOTAL AMOUNT S GRAND TOTAL $ 9.300-00 as described on the attached schedules, which are incorporated by reference to this subscription, to be used as entiles on the books of the Bureau of the Public Debt, Department of the Treasury. 2. The undersigned certifies that the total investment (1) consists only of the proceeds of obligations described in Section ]03 a of the Internal Revenue Code, and (2) is not more nor less, within authorized multiples $1,000 minimum and incienienls ul $100 over such amount) , directly subject to yield restrictions under Section 103 c of the Code and the re ulations issued thereunder, except for any portion thereof required for a payment due less than 45 days from the date settiement is made for the securities subscribed for, the funds being invested are not derived from the early redemp— tion of other U. S. Treasury Securities -- State and Local Government Series. 3. The undersigned requests that book -entry accounts be established for: Name of owner First Florida& Sewer - Utilities Revenue Refunding 1985 Escrow 4. The undersigned: a. C 1 submits payment in full herewith for the above securities, as shown below. b. 7® requests that issuance be deferred until May _10 (not to exceed by more than 60 days the date on which this subscription is received at a Federal Reserve Bank or Branch or, where mailed, by the stamp date appearing on the registered or certified mail envelope in which it is received), and agrees to make payment on that date. 5. The undersigned further certifies that the following official(s), by title(s), are authorized, subject to the provisions of the above circular, to request redemption prior to maturity of the secures (if no one has been so authorized, enter the wot d "none"). First Florida Bank. N.A Dated this$_ —day of A City ofjamarac, FL (Name of State or Local Government Body) (1 elepr.nnt, InUIrtlC Are., Lnrlr'. By X (b,pr'Ial Ure anc: I iticl - FOR USE BY BANK IN TRANSMITTING PAYMENT FOR ABOVE SECURITY (The issue date of the account will be the date specified in this subscription, provided payment therefor in readily available funds is received herewith or within the time limitation specified above. Where payment is submitted separately, it should be accompanied by a copy of this subscription.) Name of Institution FIRST FL TD.� BANK '-N.A. C3 Check enclosed XK Charge our reserve a/c on 10. 1 290 City Tampa,Stat (Date) ❑ Other Authorized signature and title r..I I r FOR U E OF FEDERAL RESERVE BANK ACCOUNT NUMBERS Applicable Interest Issue Date Date credited to Treas. C OF I'S: From: Through: Rate Table No. Acct. (cannot be subse- quent to Issue Date) NOTES: From: Through: BONDS: From: Through: FOR USE OF THE DIVISION OF SECURITIES OPERATIONS APProved ...... By Date J � C G aw � Ln U J w L!i Z LLJ Z LiJ O C7 Q U 0 0 Z a LU Q F- Ll3 Ln LLJ Z a LJa co LLJ 0 LL 0 cn LU a U w Q AC tr1 a LU cc LU F- a LU Z LL 0 LU J w 0 n �a � v � 0 T v Y w A m � a � � LU c_ O o w w L N H u ro LL a L O O z-� c m O V D o LY 's E < 0. ^ w w a> �o m IY = pC . mro m z Ln LL CL ? T CV w E C c 5 L- L -Y m d a [ O d O G 1 co O d ,: O ~ N Lp w W u_ (U L LU Vd CD 'U' CO � } U a .. ❑ M c N" A u a O k.a r-1 O W u T N E Q Z 44 aq ~ J w N m a aJ Ly p1 C a LU to 4 m h- E LnD ro a� c W m +a ] _ O � 'O ly O O C7 O I Z �; C mw O ❑ x L x a N °C �� zd O Q E —_ 0' X C q � ro C m 3 U E m p V Q I z in A (UOI w w ^ p m v d x w I F- y N GI L U A LU ed a � C T N co m E4 arllCL ro � C 0 w O LL ,M 3 .W _4 O .-i E V1 2 $4 Q'i l"'1 F- w O u H N' O Q C '-, ClL) a LL S= QO _ LLm Q 1 U O A v y CO CD 0 CQ U 'G 0 N a ro w Ld 41 � Z w 7U) tr Q in v Lr cd 1r N it It$ N w 0 O (;J p4 n, a L rf y a) a O F+ 44 QC w a c a O W 4-4Lu O U l�l p F-F m� ro a,J bz c zLU O w Ln >1 Ln «7 _j ❑ IX H a LL 1a JJ N LU C- P4 Ca n E1 ~ C W ®� 0.0 z m m } J Z O w O m s o U LU Z Z a tt 0 m N m d O m � O LL z CC ❑ - O U U Q } O Z O w h* Z w M- a co 0. Q LU O } Ln a D D m LU 0 LX W H Ln cr F Z O O LL 0 U U Q } 0 CA F- w 2 z cc w 7 oA a M ..1 o O J 1c 0 H a U. 1 q SUC: CRIFTIGA FOR PURCHASZ OF U.S TRnkSufia' SECUR: IES S:'A,E AND LOCI,L GOVERNWErT S2R ES TIME DEPOSIT SECIIr,=T.'ra CEP171 FI Cf1710N A, T Tf,ICHMEN—A The undersigned certifies Chet, in addition to cc-rtifications contained in 31 CrR 344.3 (c), one of the statements is true ( check a or b) : e) no portion of the investments being made ( directly or indirectly) 4:ith am0u:%ts that are to be used to discharge a tux--exencpt band issue and that are aer'ved Dr. are to be derived (direct'• or ind:xec�l}•) `rom the sale cf secu-ities after F P.m. (EDT) ThurYdz:v, O tCbsw ��, '_9E7, the proceeds of which were to be used to discharge a tar. --exempt, bond issue; or b) although a portion of the investment is being made (directly or `ndirec -1y) with amounts that ure to be used to discharge a tax-exempt band issue and that are derived or are ,.o be aerived (d .rectly or -ndirec tly) from the sale of se^urities after p.m. (WDT) Thursday, October 22, 1987, the Proceeds of which were to be used to discharge a tar. -exempt bond issue, the composite yie.la to r.iaturity a;" all investments being purchased with such amounts noes not exceed the composite yield to maturity of the secu.rftjes that were sole, based on the price at- which they were sold. Thin undersigned agrees that this der of icat man ' s part of thea L ch,ed Subscr { P tion far Purchase in the amount cf L 300.00 ., dated May 10,_ 1990.—,_ .._, t^s Dated dzl- of Aril 1990 " City of Tamarac, Florida , rr rau G �= GQ-,1—e: n--e }3DG\: r r kut:crizeu Government _. (-305�) 722-5900 Ext. 54 Area Telephon ^ode C ry._ .7 A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO SIGN SUBSCRIPTION FOR PURCHASE AND ISSUE OF U.S. TREASURY SECURITIES - STATE AND LOCAL GOVERNMENT SERIES; AND PROVIDING AN EFFECTIVE DATE 1 Whereas, the Cityadvance refunded the 1980 Water and Sewer Utility Revenue Bonds, by proceeds from the 1985 Water and Sewer Utility revenue and refunding bonds, and Whereas First Florida Bank of Tampa, Florida>is the Escrow Agent for the defeased 1980 Bonds, and .? Whereas, the Escrow Agreement provides that the Escrow Agent shall reinvest certain unexpended balances in excess of $1,000 in United States Treasury Obligations -State and Local Government Securities -at 0.00% and maturing on dates on which such balances or portion thereof will be required by the Escrow Agent, and ---- 'Whereas, any balances in the Escrow Fund on each April 1 or October 1 shall be reinvested Immediately so there will be no balances which remain uninvested, and Whereas, the Escrow Agent from time to Xime will require certain forms to be signed for presentation to the Federal Reserve Bank in order to comply with the requirement to reinvest unexpended funds, Now, therefore, Be it Resolved by the Council of the " U City of Tamarac, Florida: SECTION 1: he Finance Director is hereby authorized to sign the following documents, when, and if presented by the Escrow Agent: 1. Subscription for Purchase and Issue of U.S. Treasury Securities -- State and Local Government Series: a. U.S. Treasury Certificates of Indebtedness b. U.S. Treasury Notes c. U.S. Treasury Bonds 2. Certification Attachment SECTION 2: This Resolution shall become effective immediately upon adoption. 6-4-0 ck 90 , 1 3 3 1 5 Temp. Reso.#5782 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-90"- A RESOLUTION AUTHORIZING THECFT�N NCE DIRECTOR TO SIGN SUBSCRIPTION FOR PURCHASE AND ISSUE OF UNITED STATES TREASURY SECURITIES - STATE AND LOCAL GOVERNMENT SERIES; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Tamarac advance refunded the 1980 Water and Sewer Utility Revenue Bonds by proceeds from the 1985 Water and Sewer Utility revenue and refunding bonds; and WHEREAS, First Florida Bank of Tampa, Florida, is the Escrow Agent for the defeased 1980 Bonds; and WHEREAS, the Escrow Agreement provides that the Escrow Agent shall reinvest certain unexpended balances in excess of $1,000 in United States Treasury Obligations - State and Local Government Securities - at 0.00% and maturing on dates on which such balances or portion thereof will be required by the Escrow Agent; and WHEREAS, any balances in the Escrow Fund on each April 1 or October 1 shall be reinvested immediately so there will be no balances which remain uninvested; and WHEREAS, the Escrow Agent from time to time will require certain forms to be signed for presentation to the Federal Reserve Bank in order to comply with the requirement to reinvest unexpended funds. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: That the Finance birector � hereby authorized to sign the following documents, when and if, presented by the Escrow Agent: 1. Subscription for Purchase and issue of United States Treasury Securities- State and Local Government Series: a. United States Treasury Certificates of Indebtedness b. United States Treasury Notes c. United States Treasury Bonds 2. Certification Attachment SECTION 2: This Resolution shall become effective immediately upon adoption. PASSED, ADOPTED AND APPROVED this day of 1990. NORMAN ABRAMOWITZ MAYOR ATTEST: CAROL A. EVANS CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. ALAN F. RUF INTERIM CITY ATTORNEY