HomeMy WebLinkAboutCity of Tamarac Resolution R-80-199Introduced by: GrJ / TEMP. RESO. #1743
Rev. 8/21/80
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R -tO-IV
A RESOLUTION PROVIDING FOR THE ISSUANCE OF
AND FIXING CERTAIN DETAILS OF $12,935,000
WATER AND SEWER UTILITY REVENUE BONDS,
SERIES 1980 OF THE CITY OF TAMARAC, FLORIDA
AUTHORIZED BY RESOLUTION NO. 79-251, PASSED
AND ADOPTED BY THE CITY COUNCIL OF THE CITY
OF TAMARAC, FLORIDA ON OCTOBER 13, 1979, as
AMENDED, WHICH RESOLUTION AUTHORIZED THE
ISSUANCE OF NOT EXCEEDING $15,000,000 OF
SAID BONDS: DESIGNATING CERTAIN BANKS TO
ACT AS FISCAL AGENT AND PAYING AGENT: AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Tamarac, Florida (the "City") has
determined to proceed at this time with the sale and issuance
of $12,935,000 in principal amount (the "1980 Bonds") of not
exceeding $15,000,000 Water and Sewer Utility Revenue Bonds,
Series 1980 of the City authorized by Resolution No. 79-251
passed and adopted by the City Council of the City of TaTnarac on October
13, 1979, as amended (the "Bond Resolution"), such amount
being required for the purpose of paying the $11,000,000 Water
and Sewer Utility Revenue Bond Anticipation Note, dated October 15,
1979, making a deposit to the Reserve Account under the Bond
Resolution and paying the costs of issuing the 1980 Bonds, including
the discount payable to the underwriters and has further determined
that certain other details of the'1980 Bonds shall be as herein-
after set forth; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TAMARAC,
FLORIDA:
Section 1. The 1980 Bonds shall be issued in the principal
amount of $12,935,000 and shall be dated September 1, 1980 and.
shall bear interest payable on April 1, 1981 and semi-annually
thereafter on the lst days of April and October.
Section 2. $2,815,000 of the 1980 Bonds shall be Serial
Bonds (as defined in the Bond Resolution) maturing annually on
October 1, in the following years and in the following amounts:
Year ' of
Maturity
1982
1983
1984
1985
1986
1987
1988
Principal
A __ +
$130,000
135,000
145,000
150,000
160,000
170,000
185,000
Year of
Maturity
1989
1990
1991
1992
1993
1994
1995
Principal
Amount
$195,000
210,000
230,000
245,000
265,000
285,000
310,000
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Section 3. $10,120,000 of the 1980 Bonds shall be Mandatory
Term Bonds (as defined in the Bond Resolution) maturing on October 1,
2010 (the "Mandatory Term Bonds"). The Amortization Requirements
(as defined in the Bond Resolution) for the Mandatory Term Bonds
shall be deposited to the credit of the Mandatory Redemption
Account under the Bond Resolution by October 1 of the following
years and in the following amounts:
Year
Amount
Year
Amount
1996
$340,000
2003
$ 630,000
1997
370,000
2004
685,000
1998
405,000
2005
750,000
1999
440,000
2006
820,000
2000
480,000
2007
895,000
2001
525,000
2008
975,000
2002
575,000
2009
1,065,000
2010
1,165,000*
o be paid at maturity and not redeemed.
Section 4. CENTRAL PLAZA BANK & TRUST COMPANY, ST.-pETERSRirRG.
FLORIDA is hereby designated as the Fiscal
Agent for the 1980 Bonds and the Bond Registrar for the 1980
Bonds, all for the purposes and within the meaning of the Bond
Resolution. CENTRAL PLAZA BANK & TRUST COMPANY, ST. PETERSRURG,
ZLORIDA is hereby designated as the Paying Agent
for the 1980 Bonds, for the purposes and within the meaning of the
Bond Resolution.
Section 5. The 1980 Bonds maturing on October 1, 1991 and
thereafter shall be subject to redemption at the option of the City,
prior to maturity as a whole at any time, or in part on any interest
payment date, in the inverse order of their stated maturities -and
by lot within a maturity, on or after October 1, 1990, at the
following redemption prices (expressed as percentages of the prin-
cipal amount to be redeemed) plus accrued interest to the redemption
date:
Redemption Period
Optional
(Both
Dates Inclusive)
Redemption Prices
October
1,
1990
to
September 30,
1991
103%
October
1,
1991
to
September 30,
1992
102-1/2%
October
1,
1992
to
September 30,
1993
102%
October
1,
1993
to
September 30,
1994
101-1/2%
October
1,
1994
to
September 30,
1995
101%
October
1,
1995
to
September 30,
1996
100-1/2%
October
1,
1996
and thereafter
100%
(2)
Section 6. The provisions of this resolution shall take
effect immediately upon its adoption.
PASSED, ADOPTED AND APPROVED THIS /" day of 1980.
ATTEST:
ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved the form and correct-
ness of this RESOLUTION
CITY ATTORNEY
RECORD OF COUNCIL VOTE
MAYOR:
DISTRICT I -
DISTRICT 2:
DISTRICT 3:
DISTRICT 4:
(3)