HomeMy WebLinkAboutResolution 992 WEDNESDAY MAY 23 1984
AYES: Mayor Bolen; Mayor Pro tempore Stute; Council Members Zapata,
Johnson, Williams, Wetherby, and Newkirk
NOES: None
ABSENT: Council Members Lancaster and Bagsby
Introduced resolution Mayor Pro tempore Stute introduced a resolution and made a motion that it be
adopted. The motion was seconded by Council Member Williams. The resolution was read
by the Assistant City Secretary. The motion, carrying with it the adoption of said
resolution, prevailed by the following vote:
AYES: Mayor Bolen; Mayor Pro tempore Stute; Council Members Zapata
Johnson, Williams, Wetherby, and Newkirk
NOES: None
ABSENT: Council Members Lancaster and Bagsby
The resolution, as adopted, is as follows:
Resolution No. 992 RESOLUTION NO. 992
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
FORT WORH, TEXAS, APPROVING THE "NOTICE OF SALE
AND BIDDING INSTRUCTIONS", "OFFICIAL BID FORM"
AND "OFFICIAL STATEMENT" PREPARED IN CONNECTION
WITH THE ISSUANCE OF THE PROPOSED $29,100,000
"CITY OF FORT WORTH, TEXAS WATER AND SEWER
REVENUE BONDS, SERIES 1984A", AUTHORIZING
EXECUTION OF SAID DOCUMENT AND THE PUBLICATION
OF SAID 'OFFICIAL NOTICE OF
WHEREAS, a "Notice of Sale and Bidding Instructions", the
"Official Bid Form" and "Official Statement" have been prepared in
connection with the proposed issuance of $29,100,000 "City of Fort
Worth, Texas Water and Sewer System Revenue Bonds, Series 1984A";
and
WHEREAS, said documents have been submitted and reviewed by
the proper officials of the City, and such officials have reported
to this governing body that to the best of their knowledge after
reasonable investigation the representations of fact pertaining to
the City are true and correct; and
WHEREAS, the officials of the City, who reviewed said
"Official Notice of Sale", "Official Bid Form" and "Official
Statement", and this governing body know of no facts that have not
been disclosed in said documents that would have a materially
adverse bearing on the securities proposed to be issued and sold;
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH:
Section 1. That the "Official Notice of Sale and Bidding
Instruction", the Official Bid Form" and the "Official Statement"
prepared in connection with the issuance and sale of the proposed
$29,100,000.00 "City of Fort Worth, Texas Water and Sewer System
Revenue Bonds, Series 1984A" are hereby approved, such documents to
read substantially as follows:
and the Mayor and Assistant City Secretary are hereby authorized to
execute and cause distribution to be made of said documents for and
on behalf of the City of Fort Worth, Texas, and this governing
body.
Section 2. The Director of Finance is hereby authorized to
approve any addenda or amendments to the "Notice of Sale and
Bidding Instruction", the "Official Bid Form" and the "Official
Statement", and cause the same to be appropriately circulated
and/or published.
M&C G-6004 - Adopted There was presented Mayor and Council Communication No. G-6004 from the City
Ordinance No. 9107 auth Manager, as follows:
issuance of $29,100,000
Water and Sewer System Bids for $29,100,000 Water and Sewer System Revenue Bonds Series
Revenue Bonds, Series 1984A were received Wednesday, May 23, 1984, at 10:00 A.M. A
1984A summary of the average annual effective interest rates for the bids
received is shown below:
1. Prudential-Bache Securities Inc. 10.5175
2. Drexel Burnham Lambert Inc. 10.593022
3. Salomon Brothers Inc. & Associates 10.606