|
200
<br />
<br />shall be issued pursuant to the31987 Bond Ordinance and
<br />$2,000,000 principal amount of such bonds shall be issued
<br />pursuant to the 1990 Bond Ordinance;'
<br />
<br /> WHEREAS, on February 5; 1990,. the Council of the City
<br />adopted~a resolution entitled~,RESOLUTIONOF ~THE COUNCIL OF
<br />THE CITY OF CHARLOTTESVILLE, VIRGINIA, AUTHORIZING AND
<br />DIRECTING THE CITY MANAGER TO CAUSE TO BE PUBLISHED A SUMMARY
<br />NOTICE OF SALE OF $6,500,000 PRINCIPAL AMOUNT OF PUBLIC
<br />IMPROVEMENT BONDS, SERIES 1990, AND TO CAUSE TO BE PREPARED A
<br />PRELIMINARY OFFICIAL STATEMENT, 'A ~DETAILED NOTICE OF SALE AND
<br />A BID FORM RELATING TO SUCH BONDS," authorizin-g and directing
<br />the City Manager to cause to be Published in The Bond Buyer,
<br />a financial journal published in the City of New York, New
<br />York, a Summary~Notice of sale of the Bonds and to cause to
<br />be prepared a Preliminary Official Statement, a Detailed
<br />Notice of Sale and a Bid Form relating to-the Bonds and to
<br />cause the same to be distributed to prospective purchasers of
<br />the Bonds;
<br />
<br /> WHEREAS, the City Manager has ca~sed~the Summary Notice
<br />of Sale of the Bonds (the "Summary Notice ~of Sale,) to-be
<br />published on February 9, 1990; in The Bond Buyer and~has
<br />caused the DetailedrNotice of Sale of the Bonds (the
<br />"Detailed Notice of SaI'e''') to be-preparedTand distributed to
<br />prospective purchaser's of the Bonds,-such Summary Notice~of
<br />Sale and Detailed Notice of Sale each providing that sealed
<br />proposals for the purchase of the Bonds (the "Proposals")
<br />would be publicly opened at 11:00 a.m., Virginia time, on
<br />February 21, 1990~ .....
<br />
<br /> WHEREAS, pursuant to the Notice of sale, the following
<br /> Proposals were received on February 21, 1990, each
<br /> accompanied by a certified or bank cashier's check in the
<br /> amount of $65,000 p-ayabte to the City:
<br />
<br /> . True or Canadian
<br /> Name of Bidder Premium Offered Interest Cost
<br />
<br />Wachovia Bank & Trust Co.~ '"
<br />Scott & Stringfellow-NV Corp.'
<br />Harris Trust & Savings Ban~k~
<br /> and Associates
<br />Chase Securities, Inc.
<br />The Northern Trust CompanY &
<br /> Associates
<br />Merrill Lynch Capital MRTS
<br />Craigie Incorporated and ' ~
<br /> Associates
<br />
<br /> -0-
<br />
<br />$91.oo
<br /> 50.00
<br />
<br />10.00 '"
<br /> --0--
<br />
<br />6.711085
<br />6.71477
<br />
<br />6.7371
<br />6.7521
<br />
<br />6.758
<br />6.810986
<br />
<br />-0- 6.8252686
<br />
<br /> WHEREAS, the Council reasonably expects that, including
<br />the Bonds, no more than ten million ~dOllars ($10,000,000) of
<br />"qualified tax-exempt obligationS" (other th~n ,Private
<br />activity bonds"), as such terms are used in Section 265 of
<br />the Internal Revenue Code of 1986 (the "Code"), Will be
<br />issued during calendar year 1990 by the City, inclUding its
<br />"subordinate entities," as such term is Used in Section 265
<br />of the Code:
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED ~BY THE;~ COUNCIL OF~THE
<br />CITY OF CHARLOTTESVILLE, VIRGINIA:
<br />
<br /> 1. The Council of t~he City hereby finds and
<br />determines:
<br />
<br /> (a)~ The proposal! (the "ProPosal,') ~ of Wachovia Ba~k
<br />& Trust Company (the "Purchaser"), to purchase from the City
<br />its six million five hundr.ed~ thousand dollars ($6,500,000)
<br />aggregateprincipal amount of ,City of Charlottesville,
<br />Virginia, Public Improvement: Bonds, Series 1990, dated
<br />February 15, 1990 ~(de-fined inl the recitals h:ereto as the
<br />"Bonds-. or~the'"1990 Bonds":)i, au~horize!d t.o:be issued by the
<br />1987 Bond Ordinance and the 1990 Bond Ordinance~, has in 'all
<br />
<br />
<br />
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