7658AM M M man
378
RESOLUTION NO. 7,658
A RESOLUTION APPROVING THE SALE OF GENERAL
OBLIGATION INDUSTRIAL DEVELOPMENT BONDS; AND
PRESCRIBING OTHER MATTERS RELATING THERETO.
WHEREAS, by Ordinance No. 15,150 of the ordinances of
the City of Little Rock, Arkansas ( "City "), passed and approved
on the 5th day of August, 1986 ( "Ordinance No. 15,150 "), there
were authorized and ordered sold City of Little Rock, Arkansas
General Obligation Industrial Development Bonds, Port Authority
Project, in the total principal amount of $2,500,000 (the
"Bonds "); and
WHEREAS, at the public sale conducted September 23,
1986, the following bids were received, copies of which are
attached hereto:
George K. Baum & Company,
Dabbs Sullivan Division 5.8126%
FirstSouth Capital Corp.
Stephens Inc. 6.82762%
Dean Witter Reynolds Inc.
Crews & Associates, Inc.
Shearson /American Express 7.488866%
;and
WHEREAS, the Bonds should be sold to George K. Baum
Company, Dabbs Sullivan Division and FirstSouth Capital Corp.,
the bidder submitting the best bid for the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Board of
Director of the City of Little Rock, Arkansas:
Section 1. The sale of the Bonds to George K. Buam
Company, Dabbs Sullivan Division and FirstSouth Capital Corp. is
directed and approved.
Section 2. This Resolution is adopted pursuant to the
authority conferred by Ordinance No. 15,150, and Ordinance No.
15,150, together with this Resolution, is confirmed.
Section 3. The distribution of the Official Notice of
Sale and Official Statement, copies of which are before the
Board of Directors at the meeting at which this Resolution is
adopted, is hereby approved.
2 -7;?0
Q -V
M M M M M80 M M M r ir M M MM
Section 4. The provisions of this Resolution are
hereby declared to be severable and if a section, phrase or
provision shall be declared invalid, such declaration shall not
affect the validity of the remainder of the Resolution.
Section 5. This Resolution shall take effect upon its
passage.
ADOPTED: September 23 , 1986.
ATTEST:
City ClerWJ
(SEAL)
APPROVED:
- —7, 0, 1
Mayor
379
OFFICIAL BID FORM
To: Mr. E. Jack Murphy
Director of Finance and Administration
Little Rock, Arkansas
M M M
380
Re: 52,500,000 City of Little Rock, Arkansas General
Obligation Industrial Development Bonds (Port
Authority Project), dated September 1, 1986
Reference is made to your Official Notice of Sale and Official
Statement (collectively the "Notice "), pertaining to the referenced Bonds,
which are made parts hereof.
For your legally issued Bonds, as described in the Notice, we will
pay you o of the principal amount thereof plus accrued interest from
September 1, 1986 to the date of delivery to us, plus a cash premium of
$ , for Bonds bearing interest at the rates as follows:
Year
Interest Rate
Year
Interest Rate
1989
ri. go 1997 40
1990
rr-au 1998
1991
1999
1992
2000
1993
2001
1994
2002
1995
1 2003
I&IO
Interest cost in accordance with the above bid is:
Gross Interest Cost
Plus Discount of
Net Interest Cost
Net Effective Rate
•.o a
We have attached or furnished separately our good faith deposit of
550,000, in the form of a cashiers or certified check drawn on or certified by
a bank that is a member of the Federal Deposit Insurance Corporation.
Respectfully submitted,
Dabbs Sullivan Division
George K. Baum $ Company
FirstSouth Capital Corp.
(List names all me of Acco nt)
By
Authorized Represent i e
21
OFFICIAL BID FORM
To: Mr. E. Jack Murphy
Director of Finance and Administration
Little Rock, Arkansas
Re: 52,500,000 City of Little Rock, Arkansas General
Obligation Industrial Development Bonds (Port
Authority Project), dated September 1, 1986
381
Reference is made to your Official Notice of Sale and Official
Statement (collectively the "Notice "), pertaining to the referenced Bonds,
which are made parts hereof.
For your legally issued Bonds, as described in the Notice, we will
pay you YE-o of the principal amount thereof plus accrued interest from
September 1, 1986 to the date of delivery to us, plus a cash premium of
$ —0— , for Bonds bearing interest at the rates as follows:
Year
Interest Rate
Year
1989
r; , i.S
1997
1990
1998
1991
1999
1992
7, 00
2000
1993
2001
1994
17,40
2002
1995
7-73
2003
1996
.
Interest cost in accordance with the above bid is:
Gross Interest Cost
Plus Discount of
Net Interest Cost
Net Effective Rate
Interest Rate
i
We have attached or furnished separately our good faith deposit of
550,000, in the form of a cashier's or certified check drawn on or certified by
a bank that is a member of the Federal Deposit Insurance Corporation.
Respectfully submitted,
Steb�ipns Inc-
(List names of all members of Account)
By
Authorized Representative
21
OFFICIAL BID FORM 382
To: Mr. E. Jack Murphy
Director of Finance and Administration
Little Rock, Arkansas
Re: 52,500,000 City of Little Rock, Arkansas General
Obligation Industrial Development Bonds (Port
Authority Project), dated September 1, 1986
Reference is made to your
Statement (collectively the "Notice "),
which are made parts hereof.
Official Notice of Sale and Official
pertaining to the referenced Bonds,
For your legally issued Bonds, as described in the Notice, we will
pay you qq a of the principal amount thereof plus accrued interest from
September 1, 1986 to the date of delivery to us, plus a cash premium of
8 O , for Bonds bearing interest at the rates as follows!.
Year
Interest Rate
Year
Interest Rate
1989
-7-50
1997
—1.1
1990
7.5o
1998
1991
-7. SO
1999
X30
1992
:7. So
2001
1993
� . Su
2001
1994
7s-o
2002
L
1995
-7 To
2003
7• S 0
Iyk- :
Interest cost in accordance with the above bid is:
Gross Interest Cost
Less Premium or
us iscoun of
Net Interest ost
Net Effective Rate
$--Z, 008.9-7(0. ZS
8 Z5 000, 0 0
8 Z.4 9"1b.2S
-7•488Rte6 $
We have attached or furnished separately our good faith deposit of
850,000, in the form of a cashier's or certified check drawn on or certified by
a bank that is a member of the Federal Deposit Insurance Corporation.
Respectfully submitted,
R JQ WJT1E & ,HXq(1hDS INC.
E. F. HUTTON
SHEARSON /AMERICAN_ EXPRESS
(List n2?r-
Authoriztd f all members of Account)
By
-Representative
21