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Home My Public Portal AboutResolution 25-89 Authorizing the sale of recreational revenue bonds 2 RESOLUTION NO. -89 A RESOLUTION OF THE CITY OF McCALL, IDAHO, AUTHORIZING THE SALE OF RECREATIONAL REVENUE BONDS, SERIES 1989, IN THE PRINCIPAL AMOUNT OF $450, 000, TO THE SUCCESSFUL BIDDER; DIRECTING THE PREPARATION OF THE BONDS; AND PROVIDING FOR OTHER MATTERS RELATING THERETO WHEREAS, the City of McCall, Idaho (the "City") , by Ordinance No. 554, adopted on July 14, 1989, has authorized the issuance of City of McCall Recreational Revenue Bonds, Series 1989 (the "Bonds") , in the aggregate principal amount of $450, 000, and has directed the giving of Notice of Sale thereof; and WHEREAS, on September 14, 1989; at the time and place fixed in the Notice of Sale for receiving bids for the purchase of said Bonds, bids were received and publicly opened, examined, and declared. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF McCALL, IDAHO, as follows: Section 1: All bids received for the purchase of the Bonds, except the bid herein stated, are hereby rejected. The Bonds are hereby ordered sold to: ,C ied)te a ale o 476 as the responsible bidder making the best bid, with interest to the date of delivery of said Bonds, said sale to be subject to all of the terms and conditions set forth in the Notice of Sale of the Bonds and in the successful bid, and the Mayor is hereby authorized to execute an acceptance of said bid. Section 2 : The City's Bond Counsel, Lindsay, Hart, Neil & Weigler, of Boise, Idaho, is hereby authorized and directed to have said Bonds printed forthwith, and said Bonds shall be immediately executed, authenticated, and delivered to the successful bidder on receipt of the amount of the purchase price and accrued interest, and upon the performance of the conditions contained in the accepted bid and in the Notice of Sale. Section 3 : The Mayor, City Clerk, and City Treasurer are hereby authorized and directed to execute, on behalf of the City, , A such additional certifications, receipts, and documents as may be necessary to effectuate the sale and delivery of the Bonds. DATED this .1 th day of September, 1989 . CITY OF McCALL Valley County, Idaho BY - - -C.-?.....--- -<i_C_Pa„.,--A--T ` May ATTEST: —Ad � -Ci Clerk P'1 RESOLUTION NO. ,, -89 A RESOLUTION OF THE CITY OF McCALL, IDAHO, AUTHORIZING THE SALE OF. . , RECREATIONAL REVENUE BONDS, SERIES 1989, IN THE PRINCIPAL AMOUNT' OF $450, 000, TO THE SUCCESSFUL BIDDER; DIRECTING THE PREPARATION OF THE BONDS; AND PROVIDING FOR OTHER MATTERS RELATING THERETO ' WHEREAS, the City of McCall, Idaho (the "City") , by Ordinance, No. 554, adopted on July 14 , 1989, has authorized the issuance of . City of McCall Recreational Revenue Bonds, Series 1989 . (the, "Bonds") , in the aggregate principal amount of $450, 000, and has ' directed the giving of Notice of Sale thereof; and WHEREAS, on September 14, 1989, at the time and place fixed in the Notice of Sale for receiving bids for the purchase of said Bonds, bids were received and publicly opened, examined, an'd' declared. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE .CITY ' . OF McCALL, IDAHO, as follows: Section 1: All bids received for the purchase of the Bonds, , except the bid herein stated, are hereby rejected. The Bonds are , . hereby ordered sold to: grcX rre2 ,oa2l, #' 240,4 . as the responsible bidder making the best bid, with interest to the ,, ' date of delivery of said Bonds, said sale to be subject to all of the terms and conditions set forth in the Notice of Sale of the Bonds and in the successful bid, and the Mayor is hereby authorized to execute an acceptance of said bid. Section 2 : The City's Bond Counsel, Lindsay, Hart, Neil & ' Weigler, of Boise, Idaho, is hereby authorized and directed to have ' said Bonds printed forthwith, and said Bonds shall be immediately • executed, authenticated, and delivered to the successful bidder on receipt of the amount of the purchase price and accrued interest, , and upon the performance of the conditions contained in the accepted bid and in the Notice of Sale. Section 3 : The Mayor, City Clerk, and City Treasurer are ' : hereby authorized and directed to execute, on behalf of the City, , M such additional certifications, receipts, and documents as may be necessary to effectuate the sale and delivery of the Bonds. DATED this 4th day of September, 1989. , CITY OF 'McCALL , . Valley County, Idaho By - _e , Mao � � ATTEST: `' 4; ::._ ,,. ------'_,_ . c . , C' y Cler . ••.. .. • . . .•., •7.';•••,.' ..1......:-.:::;::.*:.:4-...:;.:,:'...4:-',..i:... :::::::'... •: '-:',;;;:ei.:•- !'•:.•:••.; •• •, ::,:• • • ' • - •• •• •• '•••-•:•••••:. : .•;:: • - :,''•:••' •.•-••-•'L••••L'• .. . ••• --•:••'''''.' : .--,•72 -t-:,.:' '' ;.:.,7:";••irri•-•4•"•.a...-.: 1.'..-.:.•...:.:,::;:...:: :•••:'''• ,•;.;'!•?....6• ." :.:V. :•• . •• •, '.. .' ''.;.:. ... .2.4g::::..:::. ...:: :"$.7..;.r...'.:.• *:..,:: i ' ' ...6 .'• :.. ....I.L.:: .2 .;.:: $450,O 0 0 .. . . .;....,......- . ,.. - ."7.. .• • '.. '•:.;:j.:"...7."'•:... . • .......:7:••••7. . •`.1 :,:.,,:.7 . t:•:!.'•.,-•':•-•''' • '': • •;•••:: . -•.: •-.... .., •,•,.• • CITY OF MCCALL : ••••• •,...'•,..- . • . •••:• • • • • •••••• •••:.;;::...::• - ; •••:::5,.---- .. ...,,pi.,;•::.%-:•• i•- ,..... ;.••,,:•-...••••••••• : .,.;' ...::::• •••v•.:. :•.:; •,.• i.::::,•i',.:e':i.:•;:•::••;':::•'i,':-•.:•7'-.:':: . *•: •••::::•'-:::'••••••F••••'.:--••••• ..'1•'' STATE OF IDAHO •* :' •••''' •• : • .,.... :' .... .',...',••••••:::•,..:.. •• •-•• -.:.:,' ' . • •• . - ' -"•'.*:2•- • • • ---•:•:-•-:•••::- • •••RECREATIONAL REVENUE BONDS, SERIES 1989 •:.:.'• :.. . ••••••••::, .:- ,,f..:...:, . . .-:::::,c.:,::: • -,-..!..::::.....iz....::: ..-:•7i-A.:.$:-.7::::: :-::.e ..'....::.1.,41.;•::: . .:±. ..,...1.:... 7••.:,. .• .1•••• ,....:'*•••• . • .7 ' : ..* , . : •, . ....*.:. .. . •••• '.' , i.2'.;,5::.:.:•7,- :f..:;,;:•.- .'....;':•:::;:'.-7;;', ..,.7 :_••:-:::,,`-.• ' 7•••-•'::?;;;:.::',:r.:::;•:-.':::::•: 'i.:.: • :44;:i.: ••••..44•••;::.:: ;. :.• ....'••••.'..,:..; '' .:•••..... . •• •.... .:'. . •44' :. -.•.1 ieti I•::•%,' .i . .•:.,..2•1:r•:.-;t•.';.i.k:". •:. ' ' : 11::*••••••:.7 :'•.'..--'••: ..: •.• •, ...4.: :•• '..•: r.' :*."4:.:1.:•••:. -:••:•••%•:...v: ••: - : • •::,..::• ,'. . '.. • 4:.:•'-'•:,•:1•.,...;:ir.•......:%.;::- -;:-•• .: , • ,•:7••:::7•••-•7•4•:.,:•:••••:. -.:...-7..z.:?. -.. ,.•:i.• . •• -.......,,,••-i..:*. ... -p...:..,..4.:;..e.r:;:: ::;.::...:;;!al,r)'..' . ; •':!•:;.,"...;.:.: • ....• ........ k:22,,,;:.-, ... ..7,:, . .r:::;::.. a.,::::LOY47,;.;1.".c.,....*:p•• --.:•.:. - ! :••, .....:-.• , *.;:•:.• .' ;i',.'''..'••••••:.•; ' -:' .: ;''A • .. ..•.:*7 4-:!....:Z:•''1' ' •:?;•:...:; f:::For ,t150,ao 0-.p:a , value of the •••• •City of McCall*, State' Of Idah.O',2.:-.-Recre.a-...,,,,...:•:,."....::.,.- ••;4•';'. tiona.1 RevenUe:Bonds;•••Series 1989, :.••dated October 1, ::1989, 'maturing 2.p.,..:z.:•...:„.::,; the *amounts shown herein and. with interest payable on April :1,..-1•1990,; ,-7..,- , ."-,1 -4).?:. •:'.:;5i::and semi-annually thereafter on the first days Of .October and. April at ..i•;the rate .or rates •specified herein, .we will pay .$450,000 value of said'.... •....:•,:.:: •:',:::.';ffi-•::•!, lionds; plus IPremium of . $ ,:•'••:-;-0 ,- - i. plus accrued interest . from ,,'...,:...:-. : -,'•':::7-1:4•:,:;..i..1.batober 1, 1989, to the date of delivery of said bonds to us., ....,.7.;;:.',..:•!'-::. ...,:,.:•:... .-f.:.-_:,..: • ::,.!'•!;?:!:• •. 1;:••...:;:•••::;:L.::;,•••;..:••••;.:" ..,..::.i.$.t.2-:;;_ft:,..,:::: :: '•':.•';?'. '••,::: '*•-...T.. ....... ••••,••:••" '.':'. • : • '. ••"*...:. ..;......... . ••:•••: '..';';, ,•••• ' _. _, •••••:.*-:.,,••,•:• " *._.-•-••c..:;•••;:,:"...,.-- The schedule of maturity and the interest rate upon which thi.i. bid is.:::-...!::, . •::-c::;=:.•;:i.;..-:":.*:•lbased, with the interest %computed from October 1, 1989, to the maturity2'...,*77.7. -::1;=..: *''.•:;iTI.:•;:date of the bonds', are .aSfollows: ..,,..,•ii....,. •-•' :...,.....:•• •.••;•,!•:,- .:7:. • -:.. ...::.....::•'. . .. . i ,..7.:•: ' '•.':i.;:••••••:-::::-::.::.?-: . ...-...::.:_ .:::•:.;:::. .:•! :;:st.V.i: :::53:.i.,!:.:,::•;:: . :....5.•:-- ' • . ....:•:. • •.:•—'. .s......: . '; ••••• '';"."`Lr:;:4;r;i:.:".:: , : ..%!:f•••?:77....":7-: i?'.• '' ''.'"1;•.' . 6.k..:.,:: :..4.:?a , 14atraritir',,... ;:.:',.F.:qr.7-ei2.::?:4t:',...,::-.*;"...:•::. 'Interest .. ,,:t.,;:!:.'MaturitY:i.s.,i.i . : . ....;;-.-.1:1;:.:".'7. ..;•;'•:Tnterest...:: ::•.! ::!'•-:::•• •••••:....;;;;••:: .yeix . ....,.::.. .irniitiiii '::?:,::-;::::•.:1•.- • Rate ..7.:.:•• ••:.::: •Year -'•••••;-1 .:Amoun- i '. • :' Rate .'atzic..--:.•, .. . .. ' . ":.. '..‘1'..I. .. •""' . " ' '*"*.' ' - • • ::... .:•"..1..:P-•*::.;•• -.;;••:.;:z:i:::.::7:•-••••:.::`;'::::.i: 1990 $15,000- :1;-i, ;. ,1(-• . 1998 ::"•;:;;;•:-.$30,000 •• . ,••••6 AO :•:.•'...C.....4:-;•.:.;•",-11.-. . "':...••-•':•7,,'•:"..:-:1•L:::1991 •:.- •••••••••- 20,000. •:: ••;:!'q- ••q.O..ir % •••••••:! -.,. 1999 ..:::.;.,•: . 35,000 : -6.42, .1 1..::• •••• • ':::,'-'''....-•:.• :-....1992. ,:*: • 2 0,0 0 0 ...'4'..,:*:'!•, • 9.410 •• 7% ::','..-:•••2000 ';:;'.. . , '35 r 000 . • '‘...190 • •• % '•.:•::...-..,• - • ....:-•••::.•:*::.:::!',-; 1993 -' " 20,000 :•"j ::I,'•• • 0,70---% :.::. .2001...;.,.• :; 40,000 ., •• : 46.. -ji•----,--% : :,J; . ••• -•''':..'-'' '• 994 ' .. ' '' 25,000 •,.. ..:::•:::•.;'!j. 47.7.3 .—% :. :::-.•••2002 :: . 40,000 ; . • , 6,95-7—% -..::,,•.- :- ' •.:'.: ' 1995 • '' .' . 25, 000 ' ,•...,•:•?:: 0....2.1r2603 :":"..1. . 45,000 • . a.5".r % . ::‘.•::.••• .• — 1996 • sn ': !•25,000 •••••.:...a.'• •••••:• 6.757 ' .% 2004 ••• ••••• • • 45,000 :' • 6.4,3- % :•,. ... 1997. ' 30,000 -;.:!...5...• 6.4190 % ' • ''..-::::.• '. ' ' - • - ':: ' ' • ,. _ ,...,:... , - • , . . . ' .... • Thefollowing is submitted for informational purposes ;only, and is not •-.. ,* ..-: •••••:':..a part of the bid. :...;!..•,•:•••••L:•:•••. -••;'::•::::•c::.7 •.' • •• • .' ' . * '...:'' ..!•:'•:;••:•;:.., ::..-.:.'•::••.,. ,, . . .-* . '•:::•..: • .•••• ....:. •, .._.. ..,....... ...:., .;:. , 7.............1:. ,:. . . .•••.....:ij..,•'.7..v..: ....'::::;:':" 7.-•.:COUPON INTEREST . TOT .:: 1. .'... ;...•.: : :. -;:.:.:i•i•:...-r ! /42i i'Aiii..: • •, •••••••.;':;•::: •.'....,•:,: •.--.•-:"":•.%.• . • . AL .... . . . . . ,. .. 1. . ""•::''''""*. -..' :'''.- •- . LESS. PREMIUM *: : . ': 4'... . . . . -r- . . ... . : *:. $ • c, .: • :-. ,; ...-:-.......: •• • *. . lc.. . i.7:3;••:-.::•:. ' • ..•: . . • •• . •• .. • . • - ' '-;" : •• ..... NET INTEREST •Com- :•:,.... . ..... . . . . . . $_ 297.oaks-co.. . • ..:... . ...,;:.:•,;..,.. •._ ' . ..:•--..7-•';:.; •::::•'••...•....::::''-.••• :NET EFFECTIVE INTEREST :RATE - ;• • •*? .....':.••• • '.•74193449t3 .% - .: • •••••:•:,_. • ,._. - •.:••••,:',7;;;* :';' '••• '• :...• '' . .: -....:,7,. :':•••::;.'•:?...??,'...!,.7.;:i..':'•..:••::. 'i..41-;•::'.: ?•":.'•• • ..:." %I.'....ii.7•:. • . • • .•.',..:• .• : .. .1..:: 7 .• • This bid Is submitted 'in accordance with and. subject to all provisions. ......:.: - • - : • contained in the Official Notice of Bond Sale of these bonds. • • . . ..••••••• • • . • . . • • . .• . ., • • .:,:-;---We enclose herewith a .. tcashier's) (certified.) check in the sum of . . - • $22,500*- payable to the order of the Treasurer of the City of• McCall, which check is to be returned to us if this bid is not accepted. If this bid is accepted, said check shall be held. uncashed and applied to • • the purchase price of . the bonds when the same are delivered and paid for under the ternis of this bid, or is tO be retained as and for. ' . . liquidated, damages in case we fail to accept said bonds when ready for delivery or fail to complete payment therefor in accordance with the terms of this bid.. • . . . . • • • • . . ' . . • . . • . . . . . . . . • . • •• -• . . . • •••:,..,F=.•-•-•- , • . • SEP- 11 -89 MON 12 : 03 208 383 3864 P . 01 .0,7.: n..!11/89 12:12 $24$ 383 3864NEST ONE BK ID L U1J2 OP Respectful• •• 'tted this Company ;.ri 6�� ;/%T/ •,• as �,of ._ •i • 198• . Addressomp - i.:• e1 iii.• Ak�.1rObi� ilI i _ Q . 'City/State/Zip /..--. 11tTC _'I Phone ( fes; a1nr-F*7, • Accepted for and on behalf of .the City Council 'of the City of McCall, -°` .:..' this 14th day .of September, ' 1989. • ! ::;: ..,:e.... .::::;;1•.;:. S. - • -• San'' • Mayor• 0 r o f the Ci o f McCall A • 2°I'EST: `-' <_ Clerk of the City of: McCall _ • Good Faith Check ,u. - ':, . ti .:.-..'. drawn on ':-returned and receipt thereof acknowledged this . day of : . 1989. _ , • By • , - r-.. _ . x wt, • • • • • • • • • • • • • 1 , LINDSAY, HART.NEIL & WEIGLER LAWYERS ABS BIIILDING SUITE 400 SUITE 1800 2.4.16 KIIDAN MINAMI JEFFERSON PLACE 222 S.W.COLIIMBIA STREET CBIYODA-BII 360 N.9T8 PORTLAND,OREGON 97201.0818 TOKYO 102 JAPAN BOISE,IDAHO 83702 (503)226-1191 (08)239.2815 TELEPHONE(208) 336-8844 TELECOPIER(208) 336-8833 346 CALIFORNIA STREET 10017 SIIITE 2200 ISEAFr JJl SAN FRANCISCO,CALIFORNIA 94104 SEATT:'. ✓ (415)984.5858 August 30, 1989 2011 EYE STREET.N.W. MIC. - WASHINGTON,D.C.20036 { (202)296-3006 70-7 tAAAK "7/v/g7 o rc nua"-scnmidt City Administrator City of McCall 216 Park Street McCall, Idaho 83638 Re: City of McCall Recreational Revenue Bonds, Series 1989 Dear Bud: Enclosed is a form of resolution which the City Council can use for the award of the bid on the revenue bonds at its September 14 meeting. The number of the resolution will need to be inserted at the top of the page, and the name of the successful bidder inserted in Section 1. Also enclosed are six (6) copies each of signature certificates for the Mayor, yourself, and Jim Henderson. We will need to have these signed in two places -- once at the top of the page and again just above the notary public statement. Each copy must also be notarized. We will file one copy of each with the Secretary of State's office in order to comply with the Uniform Facsimile Signatures of Public Officials Act. This enables us to use printed signatures on the bonds instead of requiring each of you to sign each bond manually. I plan to be in McCall for the Idaho City Clerks and Finance Officers Association meeting on September 14, and will plan to attend the City Council meeting that evening for the bid opening if possible. See you then. Sincerely, LIND A ', ,ART, NEIL & WEIGLER Michael C. Moore MCM/kj ) Enclosures cc: Bob Remaklus Bud Way