HomeMy Public PortalAboutTAB 19.pdfAD►A•HINOJOSA.
V STMENT BANKERS
July 26, 2011
To: Allparties on attached distribution list
From: Wally Sevier, Estrada Hinojosa & Company, Inc.
CLOSING MEMORANDUM
VILLAGE OF KEY BISCAYNE, FLORIDA
$7,130,000
CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS,
SERIES 20118
Date of Closing: Monday, August 1, 2011
Time of Closing; 9:00 a.m.
Location of Closing: Closing will take place via conference call.
A, DISBURSEMENTS
1. SunTrust Bank (the "Purchaser") will debit the Village of Key Biscayne Operating Account
#0597014301906 $168,598.66, representing the principal and interest payment on its Capital
Improvement Revenue Bonds, Series 2002 due on August 1, 2011, to the following:
Bank Name: StmTrust Bank
For Further Credit to: Village of Key Biscayne - Obligor: 0040334913
Obligation #26 — Principal Payment: $103,668.88 and Interest: $64,929.78
2. The Issuer will wire -transfer $46,239.81 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.
ESTRAGA HINO.JOSA 8 COMPANY, INC.
1717 Man Stre9l * Suile 4700, Locknox 47 • Dallas, Texas 75201
(214) 658-1670 • (800) 676.0352 • fax (214) 658.1671
DRAFT
7/27/2011, 10.•25 AM
DALLAS AUSTIN CHICAGO HOUSTON MIAMI SAN ANTONIO SAN DIEGO
Page 2
3. SunTrust Bank (the "Purchaser") will wire -transfer $3,760.19 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 1-linojosa & Company, Inc.
Estrada Binojosa is requested and instructed to provide an accounting for all expenses
associated with cost of issuance to the Issuer.
3. SunTrust Bank (the "Purchaser") will wire -transfer $7,126,239.81 to the following, to be
applied for the defeasance of the Capital Improvement Revenue Bonds, Series 2002
identified in Schedule I herein.
Bank Name: SunTrust Bank
ABA#: 061 000 104
Beneficiary Name: Commercial Credit Services
Beneficiary A/c#: 9088000112
For Further Credit to: Village of Key Biscayne - Obligor: 0040334913
Obligation #26 — Principal Payment: $7,126,239.81
The following is a summary of the disbursements:
Disbursements:
Principal and interest payment by the Issuer
Cost of Issuance by the Issuer
Cost of Issuance by the Purchaser
Deposit from the Purchaser
Total
If there are any questions regarding the above information, please call (214) 658-1670.
Approved by
SIM rust Bank
age of Key Biscayne
dd/e
$I68,598.66
46,239.81
3,760.19
7,126,239.81
$7,344,838.47
DRAFT
7/27/2011, 9,-56 AM
Page 3
SCHEDULE I
SCHEDULE OF REFUNDED OBLIGATIONS
Bond
Capital Improvement Revenue Bonds,
Series 2002
Maturity Interest Par Call Call
Date Rate Amount Date Price
Serials 11/1/2011 3.590% $ 130,000.00
2/1/2012 3.590% 135,000.00
5/1/2012 3.590% 130,000.00
8/1/2012 3.590% 130,000.00
11/1/2012 3.590% 135,000.00
2/1/2013 3.590% 140,000.00
5/1/2013 3.590% 135,000.00
8/1/2013 3.590% 135,000.00
11/1/2013 3.590% 140,000.00
2/1/2014 3.590% 140,000,00
5/1/2014 3390% 140,000.00
8/1/2014 3.590% 140,000.00
11/1/2014 3.590% 145,000.00
2/1/2015 3.590% 150,000.00
5/1/2015 3.590% 145,000.00
8/1/2015 3.590% 145,000.00
11/1/2015 3.590% 150,000.00
2/1/2016 3.590% 150,000.00
5/1/2016 3.590% 150,000.00
8/1/2016 3.590% 150.000.00
11/1/2016 3.590% 160,000.00
2/112017 3.590% 155,000.00
5/1/2017 3.590% 155,000.00
8/1/2017 3.590% 155,000.00
11/1/2017 3.590% 165,000.00
2/1/2018 3.590% 160,000.00
5/1/2018 3.590% 160,000.00
8/1/2018 3.590% 160,000.00
11/1/2018 3.590% 175,000.00
2/12019 3.590% 170,000.00
5/1/2019 3.590% 165,000.00
8/1/2019 3.590% 165,000,00
11/1/2019 3.590% 180,000.00
2/1/2020 3.590% 180,000.00
5/1/2020 3.590% 175,000.00
8/1/2020 3.590% 175,000.00
11/1/2020 3.590% 175,000.00
2/1/2021 3.590% 185,000.00
5/1/2021 3.590% 180,000.00
8/1/2021 3.590% 180, 000.00
11/1/2021 3.590% 185,000.00
2/1/2022 3,590% 185,000.00
5/1/2022 3.590% 185,000.00
8/1/2022 3.590% 185,000.00
11/1/2022 3.590% 200,000.00
$ 7.130,000.00
8/1/2011 100.00
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DRAFT
7/27/2011, 9:56AM