HomeMy WebLinkAbout4.4 MAD84-1BondSaleAGENDA STATEMENT
CITY COUNCIL MEETING DATE: September 9, 1985
84-1
SUBJECT:
San Ramon Road Specific Plan Improvement
Assessment District - Amendment to
Resolution Awarding Sale of Bonds
EXHIBITS ATTACHED:
RECOMMENDATION:
Draft Resolution
1)
Approve Resolution amending
Resolution 69-85, a Resolution
awarding sale of bonds, adopted
July 8, 1985
FINANCIAL STATEMENT:
No cost to city.
DESCRIPTION: The Assessment District costs were
increased between the Preliminary Engineer's Report and the
Final Engineer's Report to add contingency funds for right-
of-way costs. Since the bonds were awarded based on the
preliminary Engineer's figures, this amendment is needed to
bring the award into line with the approved total costs.
ITEM NO. ~,~ COPIES TO: Robert Haight
RESOLUTION NO. - 85
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AMENDING RESOLUTION NO. 69-85, A RESOLUTION AWARDING
SALE OF BONDS, ADOPTED JULY 8, 1985
CITY OF DUBLIN
SAN RAMON ROAD SPECIFIC PLAN IMPROVEMENT ASSESSMENT DISTRICT
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Dublin, California, that Resolution No. 69-85, a
Resolution Awarding Sale of Bonds, adopted July 8, 1985, be
amended, in part, as follows:
1. That the first paragraph of said Resolution be
amended to read "City Council of the City of Dublin, California,
that".
2. That the proposal for the purchase of bonds,
submitted by First California Regional Securities, Inc., has been
amended to reflect a revised principal maturity schedule, the
proposal with the revised maturity schedule is attached hereto as
Exhibit "A" and incorporated herein by reference.
3. That the bonds be, and they are hereby ordered sold
to First California Regional Securities, Inc., pursuant to the
proposal attached hereto as Exhibit "A"
1985.
PASSED, APPROVED AND ADOPTED this 9th day of September,
AYES:
NOES:
ABSENT:
ATTEST:
Mayor
City Clerk
I hereby certify that the foregoing resolution was duly
and regularly adopted and passed by the City Council of the City
of Dublin, California, at a regular meeting thereof held on the
9th day of September, 1985.
FIRST CALIFORNIA REGIONAL SECURITIES, INC.
Investment Bankers
444 Market Street, San Francisco, CA 9411 l
415/982-2444
H. Michael Richardson
Chairman and
Chief Executive Officer
August
23, 1985
Mr. Richard C. Ambrose,
City Manager
City of Dublin
P.O. Box 2340
Dublin, CA 94568
Re:
San Ramon Road Specific Plan Improvement
Assessment Dist. rict 84-1 - Amador Valley
and Traffic Signalization
Boulevard Extension
Dear Mr. Ambrose:
We offer to purchasE: your 1915 Act Bonds in the sum of
$857,869.00, at 95% of par value plus accrued interest from
to the date of delivery at the following interest rates'
their date
Amount Coupon Maturity Amount Coupon
$87,869.00 6.50 07/02/86 $55,000.00 9.00
$55,000.00 7.00 07/02/87 $55,000.00 9.25
$55,000.00 7.50 07/02/88 $55,000.00 9.50
$55,000.00 8.00 07/02/89 $55,000.00 9.75
$55,000.00 8.25 07/02/90 $55,000.00 9.75
$55,000.00 8.50 07/02/91 $55,000.00 9.75
$55,000.00 8.75 07/02/92 $55,000.00 9.75
$55,000.00 9.00 07/02/93
Maturity
07/02/94
07/02/95
07/02/96
07/02/97
07/02/98
07/02/99
07/02/00
Sincerely,
.I.
H. Michael Richardson
HMR/mw
Member of
National Association of Security Dealers
Securities Investor Protection Corporation