Resolution Number 92-1-21-7RESOLUTION NO. 92-1-21-7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, AWARDING SERIES A OF 1992
GENERAL OBLIGATION BONDS IN THE PRINCIPAL AMOUNT OF
$6,955,000 TO THE BEST BIDDER AND REJECTING ALL OTHER
BIDS AND RATIFYING ALL ACTIONS OF THE STAFF
HERETOFORE TAKEN
WHEREAS, at the time and place fixed for the opening of bids for the general
obligation bonds of the City of San Juan Capistrano, designated "Series A of 1992
General Obligation Bonds of City of San Juan Capistrano (Open Space Program)" (herein,
the "Bonds"), all bids were publicly opened, examined and read, and a tabulation thereof
has been entered in the minutes; and,
WHEREAS, the bid of the bidder hereinafter named is the best bid made by a
responsible bidder for the Bonds; and,
WHEREAS, this City Council has heretofore adopted Resolution No. 91-12-3-8
titled "Resolution of the City Council of San Juan Capistrano Providing for the Issuance
of Its Series A of 1992 General Obligation Bonds (Open Space Program) in the Amount of
Six Million Nine Hundred Fifty -Five Thousand ($6,955,000) for the Acquisition and
Construction of Certain Park, Agricultural, Open Space and Related Uses"; and,
WHEREAS, this City Council desires to ratify and confirm all actions of the
Staff of the City of San Juan Capistrano heretofore taken pertaining to the Bonds.
NOW, THEREFORE, the City Council of the City of San Juan Capistrano does
hereby resolve, determine and order as follows:
SECTION 1.
The bid of Bank of America offering par, plus a premium of $68.15, plus
accrued interest to date of delivery for the Bonds bearing interest payable on February 1,
1993, and semiannually thereafter at the rates of:
(July 15)
Principal
Interest
(July 15)
Principal
Interest
Year
Amount
Rate
Year
Amount
Rate
1994
$125,000
6.20%
2006
$265,000
6.20%
1995
135,000
6.20%
2007
285,000
6.20%
1996
140,000
6.20%
2008
305,000
6.20%
1997
150,000
6.20%
2009
325,000
6.20%
1998
160,000
6.20%
2010
350,000
6.20%
1999
170,000
6.20%
2011
375,000
6.20%
2000
180,000
6.20%
2012
400,000
6.20%
2001
190,000
6.20%
2013
430,000
6.20%
2002
205,000
6.20%
2014
465,000
6.20%
2003
215,000
6.20%
2015
500,000
6.20%
2004
230,000
6.20%
2016
535,000
6.20%
2005
245,000
6.20%
2017
575,000
6.20%
is the best bid for the Bonds, yielding the lowest net interest cost. Said bid is hereby
accepted, and the Bonds awarded to said best bidder in accordance with the terms of the
proposal.
CFCTi(')N 9_
The interest rates on the Bonds are hereby fixed at the rates stated in Section
1 hereof.
SECTION 3.
The City Clerk is hereby directed to deliver the Bonds to the successful bidder
upon payment therefor.
SECTION 4.
All bids other than the one accepted in Section 1 hereof are rejected, and the
City Clerk is directed to return the checks accompanying said rejected bids to the
respective bidders.
SECTION 5.
All actions of the Staff of said City heretofore taken in conjunction with the
authorization of, notification regarding and issuance of the Bonds are hereby ratified and
confirmed.
PASSED, APPROVED, AND ADOPTED this 21st day
of January , 1992.
I N , MAYOR
ATTEST:
-2-
2 1 r
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano,
California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of
Resolution No. 92-1-21-7 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 21st day
of January , 1992, by the following vote:
AYES: Councilmen Friess, Hausdorfer, Harris, Vasquez and
Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) �
CHERYL O JOHN _ (C
SO CITY CLERK
-3-
Fieldman, Rolapp & Associates
tl INDEPENDENT FINANCIAL ADVISORS TO LOCAL GOVERNMENT
$6,955,000
SERIES A OF 1992 GENERAL OBLIGATION BONDS
FOR THE
CITY OF SAN JUAN CAPISTRANO
(OPEN SPACE PROGRAM)
ORANGE COUNTY, CALIFORNIA
BOND SALE: January 21, 1992
SUMMARY OF BOND BIDS
William L. Nleldman
R. Michael MCNarnara
Lawrence G. RClapp
Principals
UNDERWRITER PREMIUM NET INTEREST COST
1. Bank of America $ 68.15 6.1999
Joint Manaeers:
Bank of America NT/SA
Stone & Youngberg
J.C. Bradford & Co.
Donaldson, Lufkin & Jenrette
R.H. Investments
Syndicate Members:
Bank of California
A.G. Edwards & Sons
Gruntal & Co.
City National Bank of Beverly Hills
Crowell Weedon & Co.
Oppenheimer & Co., Inc.
Wedbush Morgan Securities
J.A. Overton & Co.
2.
Lehman Brothers
$1,460.55
6.219938
3.
Merrill Lynch
$ 330.15
6.295679
4.
Smith Barney
N/A
6.349883
Bear Stearns
Kidder Peabody
M.L. Stern
2100 S.E. MAIN STREET
SECOND FLOOR
IRVINE, CA 92714
17141660-8500
FAX 0141 474-8773