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HomeMy WebLinkAboutCity of Tamarac Resolution R-86-205Dduced by Temp. Reso. #4168 CITY OF TAMARAC, FLORIDA RESOLUTION NO. RESOLUTION PROVIDING FOR THE ISSUANCE OF WATER AND SEWER UTILITY REVENUE BONDS, SERIES 1986, OF THE CITY OF TAMARAC, FLORIDA PURSUANT TO RESOLUTION R-85-21 AS RESTATED AND AMENDED FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF CAPITAL IMPROVEMENTS TO TAMARAC UTILITIES WEST; APPROVING AND AUTHORIZING PROVIDING FOR THE INTEREST PAYMENT DATES, AGGREGATE PRINCIPAL AMOUNT, MATURITIES AND INTEREST RATES FOR THE SERIAL BONDS, IF ANY, AND THE TERM BONDS, IF ANY; PROVIDING FOR THE AMORTIZATION REQUIREMENTS FOR THE TERM BONDS, IF ANY; PROVIDING FOR THE PRINCIPAL AND INTEREST REQUIREMENTS FOR THE BONDS; DESIGNATING A PAYING AGENT AND BOND REGISTRAR FOR THE BONDS; AWARDING THE BONDS PURSUANT TO A NEGOTIATED SALE; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A BOND PURCHASE CONTRACT FOR THE BONDS; RATIFYING AND APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND THE DISTRIBUTION THEREOF, AUTHORIZING THE EXECUTION, DELIVERY AND DISTRIBUTION OF A FINAL OFFICIAL STATEMENT, AUTHORIZING THE EXECUTION AND DELIVERY OF CLOSING DOCUMENTS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Tamarac, Florida (the "Council") has previously issued $12,600,000 Water and Sewer Utility Revenue and Refunding Bonds, Series 1985, (the "Series 1985 Bonds") pursuant to Resolution No. R85-21, adopted by the City Council on January 23, 1985, as amended and restated by Resolution No. 85-436, adopted by the Council on December 10, 1985, and as amended further by Resolution No. 85-439, adopted by the Council on December 23, 1985 and Resolution No. 85-437 adopted on December 10, 1985, WHEREAS, the Resolution provides for the issuance of additional bonds, to be issued on a parity with the Series 1985 Bonds, for the purpose of paying the cost of acquiring or constructing capital improvements to Tamarac Utilities' West, WiiERAS, the Council has determined and does hereby determine it is in the best interest of the City of Tamarac, Florida (the "City") to issue an additional series of bonds designated as Water and Sewer Utility Revenue Bonds, Series 1986 (the "Series 1986 Bonds") on a parity with the Series 1985 Bonds, ` WHEREAS, the Resolution requires that there shall be filed with the Clerk prior to the delivery of the Series 1986 Bonds a certified copy of the resolution of the Council fixing the Series designation and date, fixing the years and amounts in which the Series 1986 Bonds will mature, fixing the Amortization Requirements of any Term Bonds, fixing the times and prices at which the Series 1986 Bonds are to be subject to redemption, awarding the Series 1986 Bonds, specifying the interest rate and interest payment dates of each such Series 1986 Bond (or a maximum interest rate and procedure by which a floating interest rate or variable rate period shall be determined) and directing that the Series 1986 Bonds be delivered to or upon the order of the purchasers thereof upon payment of the purchase price and to make other necessary determinations as hereinafter set forth, WHEREAS, as contemplated by the Resolution, the Council desires to approve the form and substance of. a Bond Purchase Contract (as hereinafter defined) with respect to the Series 1986 Bonds and authorize its execution and delivery, WHEREAS, the Board desires to authorize the execution and distribution of the final Official Statement for the Series 1986 Bonds; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF TAMARAC, FLORIDA: Section 1. The issuance, execution and delivery of he Water and Sewer Utility Revenue Bonds, Series 1986 in the ggregate principal amount of $12 700 000 are hereby authorized nd approved. Section 2. The Series 1986 Bonds shall be issued in egistered form only, in denominations of $5,000 or any ntegral multiple thereof, dated as of June 1, 1986, numbered onsecutively from 1 upward, bear interest from their date until -2- I 1 2 3 4 s 6 7 8 9 10 11 12 13 14 is 16 17 18 19 20 21 22 23 24 2s 26 27 26 29 30 33 32 33 34 their payment, payable semiannually on the first day of each April and October of each year, commencing October 1, 1986, shall bear the original or facsimile signatures of the Mayor and the Clerk of the City, and shall be issued in substantially the form set forth in Exhibit A attached hereto. Section 3. The Series 1986 Bonds shall bear interest from their date until maturity at the rates, mature on the dates and in the amounts, and be sold at the prices set forth in Schedule I, attached. Section 4. (a) A portion of the Series 1986 Bonds shall be issued as Term Bonds in aggregate principal amounts, maturities, not to exceed forty years, and Amortization Requirements as set forth in Schedule II attached. (b) The Term Bonds shall be subject to mandatory redemption by the County on October 1 of each year in the principal amounts set forth in Schedule II attached, in part and by lot without redemption premium, at one hundred percent (100%) of the principal amount thereof plus accrued interest to the date of redemption. Section 5. The Series 1986 Bonds shall be subject to redemption prior to their respective maturities, at the option of the City, at the redemption prices, plus interest accrued thereon to the date of redemption, as set forth in Schedule III attached. Section 6. Barnett Banks Trust Company, N.A., iJacksonville, Florida ("Barnett Banks") is hereby designated as Paying Agent and Bond Registrar for the Series 1986 Bonds and shall perform such duties as are more fully described in the Resolution, the Series 1986 Bonds and any supplemental agreement between the City and Barnett Banks. Section 7. The Board has received a proposed purchase contract for the Series 1986 Bonds (the ".Bond Purchase =I :W3M Contract") dated June 11., 1986, with respect to the purchase of the Series 1986 Bonds, from L.F. Rothschild, Unterberg, Towbin and William R. Hough & Co. (collectively, the "Underwriters"). The Council hereby approves the Bond Purchase Contract and directs that it shall be executed by and on behalf of the City by the Mayor of the City, with the official seal of the City impressed or imprinted thereon and attested by the Clerk or any Deputy Clerk of the City in substantially the form presented to the Council at the meeting of the Board at which this resolution is adopted and as attached hereto as Exhibit B, subject to such changes, insertions and omissions and such filling -in of blanks therein as may be approved by the officers of the City executing the same pursuant to this Section. The execution and delivery of such Bond Purchase Contract for and on behalf of the Council by such officers is conclusive evidence of the approval of such officers of any such changes, insertions, omissions or filling -in of blanks. Section 8. After having carefully considered the matter, the Council hereby finds and determines that a negotiated sale of the Bonds is in the best interest of the City. The Board, hereby awards the Series 1986 Bonds to the Underwriters in accordance with the provisions of the Bond Purchase Contract for the purchase price set forth in the Bond Purchase Agreement, and confirms its receipt of a disclosure statement from the Underwriters complying with the provisions of Section 218.385, Florida Statutes, as amended. Section 9. The Series 1986 Bonds, upon their execution, o authentication, and registration, shall be delivered to the Underwriters upon payment of the purchase price thereof, all as more fully provided in and subject to the terms and conditions of the Bond Purchase Contract. QC 23 24 23 26 27 30 31 133 Section 10. The Council ratifies the distribution of the Preliminary Official Statement and approves and authorizes the distribution of the final Official Statement in the form attached hereto as Exhibit C by the Underwriters in connection with the offering and sale of the Series 1986 Bonds and directs the Mayor of the City to execute such final Official Statement for and on behalf of the City with such changes, insertions, omissions and such filling -in of blanks therein as may be approved and made in such Official Statement by the officer of the City executing the same pursuant to this Section and the City Attorney. Section 11. The Council hereby fixes and determines that the Principal and Interest Requirements for the Series 1986 Bonds shall be the amounts set forth in Schedule IV attached hereto and made a part of this resolution as fully and completely as if herein set out in full. Section 12. The Council hereby determines that the capital improvements to the Tamarac Utilities West as more fully described in Exhibit D attached hereto (the "Capital Improvements") are eligible to be financed from the proceeds of the sale of the Series 1986 Bonds as provided in the Resolution. Section 13. The Council hereby reaffirms that the issuance of the Series 1986 Bonds ,is authorized for the purpose of providing funds, together with other available moneys, to pay for the cost of the Capital Improvements, to pay all the costs of issuance of the Series 1986 Bonds, and to deposit the required amounts in the Reserve Account, as defined in the Resolution. Section 14. The City hereby covenants to comply with any and all changes in the Federal Tax Laws which are necessary to maintain the tax-exempt status of the Series 1986 Bonds and hereby authorizes the Mayor, Clerk and any Deputy Clerk, the City Manager and other officers, employees and agents of the i 1 2 3- c ity to execute any and all documents, certificates and instruments which may be required as a result of a change in the Federal Tax Laws as currently proposed in order to maintain the tax-exempt status of the Series 1986 Bonds. Section 15. The Mayor, Clerk and any Deputy Clerk, the City Manager and other officers, employees and agents of the City are hereby authorized and directed to execute such instruments, certificates and documents as may be necessary and appropriate and to do all acts and things required therein by the terms, covenants, provisions and agreements of this resolution, the Series 1986 Bonds, the Resolution and the Bond Purchase Contract. Section 16. This Resolution shall take effect immediately upon its adoption. PASSED, ADOPTED of 1986. Attest: City -ClerA - V I HEREBY CERTIFY that I have approved the form and correctness of this Resolution City -A' orney 4001D 061086/12/IDT AND APPROVED this day May r RECORD OF COUNCIL VOTE MAYOR: HART, 4?4z__„_ , DIST. 1: C/W MASSARO DIST. 2: C/M STELZER DIST. 3: C/M GOTTESMAN DIST. 4: V/M STEIN Qv i $b, 11 , f 5 0. 0 40 �J No. United States of America State of Florida County of Broward City of Tamarac Water and Sewer Utility Revenue Bond, Series 1986 INTEREST RATE: REGISTERED OWNER: PRINCIPAL AMOUNT: N MATURITY DATE: ORIGINAL ISSUE CUSIP NO. DISCOUNT DOLLARS The City of Tamarac (the "City"), a municipal corporation organized and existing under the laws of the State of Florida, for value received, hereby promises to pay, solely from the special fund provided therefor, as hereinafter set forth, the registered owner named above, on the 1st day of October, (or earlier as hereinafter referred to), in the principal sum set forth above and to pay from said special fund, interest thereon from the date hereof at the interest rate per annum set forth above until payment of such principal sum, such interest to the maturity hereof being payable semiannually on the 1st days of April and October in each year; provided, however, that if on the maturity date of this Bond, moneys are being held by the Paying Agent for the payment hereof, this bond shall cease to bear interest. The principal of, premium, if any, and the interest on this bond are payable in any coin or currency of the United States of America, which, on the respective dates of payment thereof, is legal tender for the payment of public and private debts. This Bond shall bear interest from the interest payment date next preceding the date of registration hereof unless this Bond is registered as of an interest payment date, in which event this Bond shall bear interest from such date, or unless it is registered prior to the first interest payment date, in which event this Bond shall bear interest from its date. Interest on this Bond shall be paid by check or draft of the Bond Registrar mailed to the registeed owner at his address as it appears on the registration books maintained by Barnett Bank Trust Company, N.A., of Jacksonville, Florida, as Bond Registrar, at the close of business on the Record Date (as defined herein) with respect to each interest payment date. The City and the Bond Registrar are not required to issue and transfer this Bond during the period beginning on the fifteenth (15th) day (whether or not a business day) of the month next preceding any interest payment date (the "Record Date") and ending on .e interest payment date. The principal of this Bond is payable upon the presentation and surrender hereof as the same becomes due at the principal corporate trust office of the Paying Agent. This bond shall not be deemed to constitute an indebtedness of the City or a pledge of the faith and credit of the City, but shall be payable exclusively from the special fund provided therefor from revenues of the water and sewer utility of the City known as Tamarac Utilities West (the "Utility") and other moneys pledged under the Resolution (as defined herein). The issuance of this bond shall not directly or indirectly or contingently obligate the City to levy or to pledge any form of taxation whatever therefor nor shall this bond constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the City, and the holder of this Bond shall have no recourse to the power of taxation. EXHIBIT "A" All acts, conditions and things required by the Constitution and laws of the State of Florida, and the ordinances and resolutions of the City, to happen, exist and be performed precedent to and in the issuance of this bond have happened, exist and have been performed as so required. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the 40 Resolution until the bond Registrar's Certificate hereon shall have been duly executed by the Bond Registrar. IN WITNESS WHEREOF, the City of Tamarac has caused this bond to be signed by or bear the facsimile signature of its Mayor and City Manager and the City Clerk and a facsimile of its official seal to be imprinted hereon, all as of the day of , 198 [SEAL] [facsimile] City Clerk [facsimile] Mayor [facsimile] City Manager BOND REGISTRAR'S CERTIFICATE M This Bond is one of the series of Bonds described in the within mentioned Resolution. Date of Registration: 81 as Bond Registrar By: Authorized Officer STATEMENT OF VALIDATION This bond is one of a series of bonds which were validated by judgment of the Circuit Court for Broward County, Florida, rendered on April 22, 1985. [FORM ON REVERSE SIDE OF BOND] This Bond is one of a duly authorized series of revenue bonds of the City known as "City of Tamarac Water and Sewer Utility Revenue Bonds, Series 1986" (the "Bonds") issued under and pursuant to Resolution No. 85-21, duly adopted by the City Council of the City of Tamarac (the "Council") on January 23, 1985, and amended and restated by Resolution No. 85-436, duly adopted by the Council on December .10, 1985, as amended by Resolution No. 85-439 adopted by the Council on December 23, 1985, and Resolution No. duly adopted by the Council on F 1986 (herein collectively called the "Resolution"). The Bonds are issued on a parity with a duly authorized series of revenue bonds of the - 2 - City known as and Refunding date, consist on Bonds issued maturing for the "City of Tamarac Water and Sewer Utility Revenue Bonds, Series 1985." The Bonds shall be of like of Serial Bonds maturing in annual installments in the years , inclusive, and of Term on and and shall be purpose of and for paying the costs of issuance of the Bonds. The custody and application of the proceeds of Bonds issued under the Resolution, the fund charged with and pledged to the payment of the principal of and the interest on the Bonds, the nature and extent of the security, the terms and conditions on which the Bonds of each series are or may be issued, the rights, duties and obligations of the City under the Resolution and the rights of the registered owners of the Bonds are more fully described in the Resolution. By the acceptance of this Bond, the registered owner hereof assents to all the provisions of the Resolution. The Resolution provides for the issuance of additional bonds on a parity with the Bonds of this Series, from time to time, under the conditions, limitations and restrictions therein set forth, for the purpose of paying all of a part of the cost of additions, enlargements, improvements and extensions of or to the Utility and for the purpose of refunding any Bonds issued by the City under the provisions of the Resolution. The Resolution also permits the City to borrow money from the State of Florida and enter into loan agreements for its repayment for the purpose of paying all or part of the cost of such additions, enlargements, improvements and extensions and to repay such borrowings from the revenues of the Utility after providing for the periodic principal, interest and reserve requirements of the Bonds issued under the Resolution. 40 This Bond is issued and the Resolution was adopted under and pursuant to the Constitution and laws of the State of Florida, particularly the Home Rule Charter of the City and Chapter 166, Florida Statutes, as amended. The Resolution provides for the fixing and charging by the City of rates and charges for services provided by the Utility (the "Revenues") sufficient to provide funds (a) to pay the cost of maintaining, repairing and operating the Utility, (b) to pay the principal of and the interest on the Bonds, and (c) to create reserves for such purposes. The Resolution also provides for the deposit of a sufficient amount of such Revenues, over and above the amounts necessary to pay the cost of maintaining, repairing and operating the Utility, to the credit of a special fund, which fund is pledged to the extent set forth in the Resolution to the payment of the principal of and interest on all Bonds issued under the Resolution. The Bonds of this Series at the time outstanding which mature on and after , may be redeemed prior to their respective maturities, at the option of the City, from any monies that may be made available for such purpose, either in whole, on any date not earlier than , , or in part, on any interest payment date not earlier than , , at the following redemption prices (expressed as percentages of the principal amount of the Bonds being redeemed) plus accrued interest to the redemption date as follows: [Here insert the times and prices] The series 1985 Bonds maturing on , and , are subject to mandatory redemption at -3- par, plus accrued interest, but without premium, at times and in amounts sufficient to satisfy the Mandatory Amortization Requirement (as defined in the Resolution). If less than all of the Bonds of any one maturity shall be called for redemption, the particular Bonds to be redeemed shall be selected by lot as provided in the Resolution. If any of the Bonds are called for redemption, notice thereof identifying the Bonds to be redeemed will be given by the Bond Registrar by mailing a copy of such notice by first-class mail, postage prepaid, not less than thirty (30) days before such redemption date, to the registered owner of any Bonds which are to be redeemed at his last address appearing on the registration books. On the date designated for redemption, notice having been mailed, all as provided in the Resolution, the Bonds so called for redemption price provided for redemption of such Bonds on such date, interest on such Bonds shall cease to be entitled to any lien, benefit or security under the Resolutuon, and the registered owners of such Bonds shall have no rights in respect thereof except to receive payment of the redemption price thereof. The registered owner of this Bond shall have no right to enforce the provisions of the Resolution, or to institute action to enforce the covenants therein, or to take any action with respect to any event of default under the Resolution, or to institute, appear in or defend any suit or other proceeding with respect thereto, except as provided in the Resolution. Modifications or alterations of the Resolution or of any resolution supplemental thereto may be made only to the extent and in the circumstances permitted by the Resolution. In certain events, on the conditions, in the manner and with the effect set forth in the Resolution, the principal of all the Bonds then outstanding under the Resolution may become or may be declared due and payable before the stated maturities thereof, together with interest accrued thereon. This Bond shall be registered as to both principal and, interest and shall not be registered as to "bearer." The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes and payment of or on account of the principal or any such Bond shall be made only to or upon the order of the registered owner thereof or his legal representative, but such registration may be changed as herein provided. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. Any registered owner of any Bond is hereby granted power to transfer absolute title thereto by assignment thereof to a bona fide purchaser for value (present or antecedent) without notice of prior defenses or equities or claims of ownership enforceable against his assignor or any person in the chain of title and before the maturity of such Bond. Every prior owner of any Bond shall be deemed to have waived and renounced all of his equities or rights therein in favor of every such bona fide purchaser, and every such bona fide purchaser shall acquire absolute title thereof and to all rights represented thereby. (Form for Transfer) -4- FOR VALUE RECEIVED, , the undersigned, hereby sells, assigns and transfers unto (Tax Identification or Social Security No. ) the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises. '• Dated: • 9 4125D 051986/LMM -5- • SCHEDULE I $2,485,000 Serial Bonds The serial bonds bear interest payable semiannually on April 1 and October 1 of each year, cmMencing on October 1, 1986 at the interest rates set forth below and mature in the principal amounts on the maturity dates set forth below. Maturity Interest (October 1) Amounts Rates Price 1987 $ 185,000 4.75% 100% 1988 195,000 5.25 100 1989 210,000 5.75 100 1990 220,000 6.00 100 1991 235,000 6.25 100 1992 250,000 6.50 100 1993 265,000 6.75 100 1994 285,000 7.00 100 1995 310,000 7.20 100 1996 330,000 7.40 100 Term Bonds Final Aggregate interest Maturity Amount Rate Price 2011 $10,215,000 8.25% 99.50% M SCHEDULE TX The bonds maturing on October 1, 2011, in the aggregateprincipal amount e ate of 99prin50% were issued , a of $10,215,000 bear an interest rate of 8.25%, at price as term bonds. These term bonds are amortized as follows: Year Amount Year Amount 1997 $ 360,000 2005 $ 695,000 1998 390,000 2006 755,000 1999 420,000 2007 820,000 2000 460,000 2008 890,000 2001 500,000 2009 2010 965,000 1,050,000 2002 540,000 590,000 2011 1,140,000* 2003 2004 640,000 * Maturity and not redeemed C� SCHEDULE III tional Redemption The Bonds maturing on or prior to October 1, 1996, will not be redeemable prior to their stated dates of maturity. The Bonds maturing on or after October 1, 1997 may be redeemed prior to their stated dates of maturity, at the option of the City (i) in part in inverse order of their stated maturities, and by lot within a maturity if less than an entire maturity is to be redeemed, on October 1, 1996, or on any Interest Payment Date thereafter, or (ii) as a whole, on October 1, 1996, or at any time thereafter, at the redemption prices (expressed as percentages of the principal amount to be redeemed) set forth below, together with accrued interest to the date fixed for redemption: Redemption Period Redemption (both dates inclusive) Price October 1, 1996 to September 30, 1997 102% October 1, 1997 to September 30, 1998 101 October 1, 1998 and thereafter 100 Mandatory Redemption On October 1 in each of the years set forth below, the City is required to deposit to the Redemption Account and apply moneys sufficient to retire the principal amounts indicated of the Bonds maturing on October 1, 2011 either (i) by purchase at not more than 100% of the principal amount thereof, or (ii) by redemption by lot, at 100% of the principal amount thereof without premium, on October 1 in each year. Principal Principal Year Amount Year Apt 1997 $360,000 2005 $ 695,000 1998 390,000 2006 755,000 1999 420,000 2007 820,000 2000 460,000 2008 890,000 2001 500,000 2009 965,000 2002 540,000 2010 1,050,000 2003 590,000 2011 1,140,000* 2004 640,000 * Maturity THE CITY OF . TAMARAC, FLORIDA PROPOSED WATER AND SEM UTILITY BONDS, SERIES 1986 =xxsn�a;=x=c=xxsaxas= DEBT .SERVICE SCHEDULE s=�xaaszzsss==na:ae¢am DELIVERY DATE: 6/18/86 DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL 10/ 1/86 334,184.17 334,184.17 4/ 1/87 501,276.25 501,276.25 835,460.42 10/ 1/87 185,000.00 4.750000 501,276.25 686,276.25 4/ 1/88 496,882.50 496,882.50 1,183,158-75 10/ 1/88 195,000.00 5.250000 496,882.50 691,882.50 4/ 1/89 491,763-75 491,763.75 1,183,646.25 10/ 1/89 210,000.00 5.750000 491,763.75 701,763.75 4/ 1/90 485,726.25 485,726.25 1,187,490.00 10/ 1/90 220,000.00 6.000000 485,726.25 705,726.25 4/ 1/91 479,126.25 479,126.25 1,194,852.50 10/ 1/91 235,000.00 6.250000 479,126.25 714,126.25 4/ 1/92 471,782.50 471,782.50 1,185,908.75 10/ 1/92 250,000.00 6.500000 471,782-50 721,782.50 4/ 1/93 463,657.50 463,657.50 1,185,440.00 10/ 1/93 265,000.00 6.750000 463,657.50 728,657.50 4/ 1/94 454,713.75 454,713.75 1,133,371.25 10/ 1/94 285,000.00 7.000000 454,713.75 739,713.75 4/ 1/95 444,738.75 444,738.75 1,184,452.50 . 10/ 1/95 310,000.00 7.200000 444,738.75 754,738.75 4/ 1/96 433,578-75 433,578.75 1,188,317.50 10/ 1/96 330,000.00 7.400000 433,578.75 763,578.75 4/ 1/97 421,368.75 421,368.75 1,184,947.50 10/ 1/97 360,000.00 8.250000 421,368-75 781,368.75 4/ 1/98 406,518.75 406,518.75 1,187,887.50 10/ 1/98 390,000.00 8.250000 406,518.75 796,518.75 4/ 1/99 390,431.25 390,431.25 1,186,950.00 10/ 1/99 420,000.00 8.250000 390,431.25 810,431.25 4/ 1/ 0 373,106.25 373,106.25 1,183,537.50 10/ 1/ 0 460,000.00 8.250000 373,106.25 833,106.25 4/ 1/ 1 354,131.25 354,131.25 1,187,237.50 10/ 1/ 1 500,000.00 8.250000 354,131.25 854,131.25 4/ 1/ 2 333,506.25 333,506.25 1,187,637.50 10/ 1/ 2 540,000.00 8.250000 333,506.25 $73,506.25 4/ 1/ 3 311,231.25 311,231.25 1,184,737.50 10/ 1/ 3 590,000.00 8.250000 311,231.25 901,231.25 1 4/ 1/ 4 266,893.75 286,893.75 1,188,125.00 10/ 1/ 4 640,000.00 8.250000 286,893.75 926,893.75 4/ 1/ 5 260,493.75 260,493.75 1,187,317.50 10/ 1/ 5 695,000.00 8.250000 260,493.75 955,493.75 4/ 1/ 6 231,825.00 231,825.00 1,187,318.75 10/ 1/ 6 755,000.00 8.250000 231,825.00 986,825.00 SCHEDULE IV (continued) r THE CITY OF TAMARAC, FLORIDA PROPOSED WATER AND SEWER UTILITY BONDS, SERIES 1986 sss=sss=essas=aasF�s= DEBT SERVICE SCHEDULE s:a:as===xesa:ss=ns�a DELIVERY DATE: 6/18/86 DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL 4/ 1/ 7 200,681.25 200,681.25 1,187,506.25 10/ 1/ 7 820,000.00 8.250000 200,681.25 1,020,681.25 4/ 1/ 8 166,856.25 166,856.25 1,187,537.50 10/ 1/ 8 890,000.00 8.250000. 166,856.25 1,056,856.25 4/ 1/ 9 130,143.75 130,143.75 1,187,000.00 10/ 1/ 9 965,000.00 8.250000 130,143.75 1,095,143.75 4/ 1/10 90,337.50 90,337.50 1,185,481.25 10/ 1/10 1,050,000.00 8.250000 90,337.50 1,140,337.50 4/ 1/11 47,025-00 47,025-00 1,187,362.50 10/ 1/11 1,140,000.00 8.250000 47,025.00 1087,025.00 4/ 1/12 1,187,025.00 12,700,000.00 17,789,776.67 30,489,776.67 ACCRUED 47,342.76 47,342.76 12,700,000.00 17,742,433.91 30,442,433.91 ss==szs===vsxs ssxasaxxs===== DATED 6/ 1/86 WITH DELIVERY OF 6/18/86 BOND YEARS 218,448.333 AVERAGE COUPON 8.144 AVERAGE LIFE 17.201 N I C % 8.143700 % USING 100.0000000 BOND INSURANCE: ... 0.800000 % OF (TOTAL DEBT SERVICE ONLY) = 243,918.21 L.F.ROTHSCHILD, UNTERBERG, TOWBIN, INC. RUNDATE: 06-10.1986 RUNTIME: 16:29:42 0 CAPITAL IMPROVEMENT PROJECTS 190S-86 To Be Funded By Bonds Under Broward County 201 Concept Total Bond Est_ Cost Grant_- CIAC(7) Proceeds Account Numbers injection Well f 365,543(1) f -0- f -0- f 365,543 434-506-596-324 Deep Engineering Costs Project 84-2 Northwest Force Main 2,512,835(2) 512,738 -0- 2,000,097 434-510-595-324 Project 84-6 Sludge Dewatering 6 60,124(3) -0- 60,124 434-507-599-321 Composting Project 84-7 858,100(4) -0- 858,100 434-513-598-324 Rehabilitate STP and Telemetry System Project 85-19 Drive 1,300,000 -0- 611,000 b89,000 A34-515-593-324 University Utility Relocation Project 86-2 _0_ 5,333,000 434-516 594-321 201 Pump Station 5,333,000 -0- Force Main Project 86-5 178,000 -0- _0- 178,000 434-517-594-324 Section 7 Force Main a Pump Station Project 86-7 200,000 434-518-594-324 sod Farm Sludge 200,000 -0- _0_ Removal 6 Backfill project e6-8 664,230 434-519-594-324 TUW Admin/Maintenance 664,230(S) -0- _0- Building Project 86-13 37,100 434-516-594-110 county 201 Plan Rev. 37,100 -0- -0- Project 86-11 457,118 434-516-594-440 201 Large User Leases 457,118(6) -0- _0_ Project 86-12 _0_ 550,000 434-520-594-]24 _0_ Sewage Pump Station 550,000 Modifications Project 86-15 12,900 434-516-594-319 Feasibility Study 12,900 -0- -0- Project 86-17 ________ ---------- 312,258,950 $512,738 $ 611,000 $11,405,212 TOTAL Hatfield and Stoner Project 2089-0 (paid $134,109.88) and CH2M Hill (pa (1) Williams, $223,843.63, outstanding $7,589) total $365,543. by CH2M Hill, are $2,100,000 for construction, a $210,000(10' (2) Revised costs, estimated contingency, plus $202,835 engineering fees. (3) CH2M Hill Engineering costs for grant application and predesign. (4) Hazen 6 Sawyer Engineering Contract f68,100f Estimated Sewage Pump Station Telenet Construction Cost $480,000 w $858,100. Cost $310,000 and estimated STP (5) Facility for both TUW and City Engineering Department. Only portion relating to T cost $800,000. included in Bond Issue. Total estimated project (6) Cost includ debteserviceccoststPluso10iasurchargesforftreatmentfand/transmissionOcapacity- (7) CIAC stands for Contribution in Aid of Construction. EXHIBIT "D"