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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