HomeMy Public PortalAboutTAB 19.pdfESTR.A..DA•HINOOS.A
I 11ES l tai ENT BANKERS
July 26, 2011
To: All parties on attached distribution list
From: Wally Sevier, Estrada Hinojosa & Company, Inc.
CLOSING MEMORANDUM
VILLAGE OF KEY BISCAYNE, FLORIDA
$1,$65,000
CAPITAL IMPROVEMENT AND LAND ACQUISITION REVENUE REFUNDING
BONDS, SERIES 2011
Date of Closing: Monday, August 1, 2011
Time of Closing: 9:00 a.m.
Location of Closing: Closing will take place via conference call.
B. DISBURSEMENTS
The proceeds available, as described above, will be treated as follows:
1. SunTrust Bank (the "Purchaser") will debit the Village of Key Biscayne Operating Account.
#0597014301.906 $91,205.22, representing the principal and interest payment on its Capital
Improvement and Land Acquisition Revenue Bonds, Series 2004 due on August 1, 2011,
to the following,:
Bank Nance: SunTrust Bank
For Further Credit to: Village of Key Biscayne - Obligor: 0040334913
Obligation #67 — Principal Payment: $72,645.97 and Interest: $18,559.25
2. The Issuer will wire -transfer $47,427.23 to pay certain cost of issuance expenses related to
the sale of the Bonds to the following:
ABA#: 113 010 547
Bank Name: Compass Bank
Preston Road, Dallas, Texas
Account #: 2513706696
REF: Estrada Hinojosa & Company, Inc.
3. SunTrust Bank (the "Purchaser") will wire -transfer $2,572.77 to pay certain cost of issuance
expenses related to the sale of the Bonds to the following:
EST) ADA HINOJOSA & COMPANY. INC:.
1717 Witt Streit • Suiile 4700, L ckbox 47 • ()atlas, 'texas 75201
I214 658-1670 • (800) 676-5352 a Fax (214) 650-t671
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7/27/2011. 10::24 AM
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Page 2
ABA#: 113 010 547
Bank Name: Compass Bank
Preston Road, Dallas, Texas
Account #: 2513706696
REF: Estrada Hinojosa & Company, Inc.
Estrada Hinojosa is requested and instructed to provide an accounting for all expenses
associated with cost of issuance to the Issuer.
4. SunTrust Bank (the "Purchaser") will wire -transfer $1,862,427.23 to the following, to be
applied for the defeasance of the Capital Improvement and Land Acquisition Revenue
Bonds, Series 2004 identified in Schedule 1 herein.
Bank Name: SunTrust Bank
ABM: 061 000 104
Beneficiary Name: Commercial Credit Services
Beneficiary A/c#: 908800011.2
For Further Credit to: Village of Key Biscayne - Obligor: 0040334913
Obligation #67 -- Principal Payment: $1,862,427.23
The following is a summary of the disbursements:
Disbursements:
Principal and interest payment by the Issuer
Cost of Issuance by the Issuer Contribution
Cost of Issuance by Purchaser from. Bond Proceeds
Deposit from the Purchaser
Total
If there are any queues regarding t ie abov . information, please call (214) 658-1670.
Approved b
e of Key Biscayne
SunTrust Bank
$91,205.22
47,427.23
2,572.77
1,862,427.23
$2,001.632,.4.5,
DRAFT
7/27/2011, 9:56 AM
Page 3
SCHEDULE I
SCHEDULE OF REFUNDED OBLIGATIONS
Bond
Capital Improvement and Land Acquisition
Revenue Bonds. Series 2004
Maturity Interest
Date Rate
Serials 11/1/2011 3.830%
2/1/2012 3.830%
5/1/2012 3,830%
8/1/2012 3.830%
11/1/2012 3.830%
2/1/20]3 3.830%
5/1/2013 3.830%
8/1/2013 3.830%
11/1/2013 3.830%
2/1/2014 3.830%
5/1/2014 3.830%
8/1/2014 3.830%
11/1/2014 3.830%
2/1/2015 3.830%
5/1/2015 3.830%
8/1/2015 3.830%
11/1/2015 3.830%
2/1/2016 3.830%
5/1/2016 3.830%
8/1/2016 3.830%
11/1/2016 3.830%
2/1/2017 3.830%
5/1/2017 3.830%
8/1/2017 3.830%
11/1/2017 3.830%
2/1/2018 3.830%
5/1/2018 3.830%
8/1/2018 3.830%
11/1/2018 3.830%
2/1/2019 3.830%
5/1/2019 3.830%
8/1/2019 3.830%
11/1/2019 3,830%
2/1/2020 3.830%
5/1/2020 3.830%
8/1/2020 3.830%
11/1/2020 3.830%
2/1/2021 3.830%
5/1/2021 3.830%
8/1/2021 3.830%
11/1/2021 3.830%
2/1/2022 3.830%
5/1/2022 3.830%
8/1/2022 3.830%
11/1/2022 3.830%
Par
Amount
S 35,000.00
30,000.00
30,000.00
30,000.00
45,000.00
35,000.00
35,000, 00
35,000.00
35,000.00
35,000.00
35,000.00
35,000.00
40,000.00
40,000.00
35,000.00
35,000.00
45,000.00
40.000.00
35,000.00
35,000.00
50,000.00
40,000.00
40,000.00
40,000.00
45,000.00
40,000.00
40,000.00
40,000.00
50,000.00
45.000.00
40,000.00
40,000.00
55,000.00
45,000.00
45,000.00
45,000.00
50,000.00
50,000.00
45,000.00
45,000.00
55,000.00
50,000.00
45,000.00
45,000.00
60,000.00
$ 1,865.000.00
Call Call
Date Price
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
811/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100,00
811/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
8/1/2011 100.00
DRAFT
?/27/2011, 9:56AM