HomeMy WebLinkAbout12/05/1991 - Special Minutes City Council MINUTES
CI'I'Y COUNCIL SPECIAL MEETING
'FHURSDAY, DECEMBER iS, 1991
8.'00
Mayor Ringer, Councihnembers
Schneider, Birdwell, Mci]ha.ney and
Crouch, Gardner
Councilman Brown
City Manager Ragland, City Attorney
Locke, City Secretary Hooks, Executive
Director Fiscal/Human Resources
Schroeder, Executive Director Management
Services Piwonka
John Lauletta
See guest register.
Aginde Item No. 1 - Opening at bids end consideration at in ordJnince
authorizing the issue end mile at $4,628,000 City at College Station. Tezss.
Gert. emi Obligation end Refunding Bonds, Series 1991.
Mr. Pete Fischer, Mr. David Fetzer, and Mr. Paul Martin were present to
proceed with the opening of bids received for the sale of general obligation
bonds.
The councihnembers were provided a score card to record the bids. Mr. Fetzer
cited the bids received.
After the bids were opened, Mr. Fetzer and Mr. Fischer reviewed the bids and
Mr. Martin reviewed the bond ordinance.
Mr. Fetzer announced that the bid from Prudential Securities offering an interest
rate of 6.18956 ~s the best bid. He recommended this bidder to the Council.
Councilman Schneider moved to accept the bid from Prudential Securities and
approve Ordinance No. 1932 authorizing the issuance and sale of $4,625,000
general obligation and refunding bonds. The motion was seconded by
Councilman Crouch which carried unanimously, 6-0, with Councilman Brown
absent.
_Aoenda Item No. 2 - Closed session to discuss uersonnel r6282-17(2)~_a_~] and
ix)tenets1 littaetion
The council moved into closed session at 5:50 p.m.
City Council Special Meeting
Thursday, December 5, 1991
Page 2
Personnel [6252-17(2) (g)]
A. Municipal Judge
Potential Litigation [6252-17(2) (e)]
A. Mayoras & Hitfle
The council came back into open session at 6:30 p.m.
Councilman Birdwell moved to direct staff to proceed litigation against Mayoras
and t-little regarding the defective software product for Municipal Court.
The motion was seconded by Councilman Crouch which carried unanimously,
6-0.
Ammck Item No. 4 - Ad~.oum.
Mayor Ringer adjourned the meeting at 6:31 p.m.
ity Secretary Connie Hooks
APPROVED:
December 6, 1991
Mr. Glenn Schroeder
Executive Director for Fiscal and
Human Resources
City of College Station
P.O. Box 9960
College Station, TX 77840
Re:
$4,625,000 City of College Station (Brazes County,
Texas) General Obligation and Refunding Bonds, Series
1991
Dear Glenn:
Enclosed are the bids received at the City's sale last
evening on the above captioned bonds, including the winning bid
of Prudential-Securities Incorporated. These should be made a
part of the City's permanent records.
Also enclosed is a Principal and Interest Payment Schedule,
which is also being sent to First City, Texas-Houston, N.A., the
Paying Agent/Registrar.
PCF:smt
Enclosures
It has been a pleasure to have had a hand in this financing
for the City, and if we may be of assistance to you in any way,
please do not hesitate to call.
~.~~e/C/. ~Fisher
/~ President
$4,625,000
CITY OF COLLEGE STATION, TEXAS
GENERAL OBLIGATION BONDS, SERIES 1991
DEBT SERVICE SCHEDULE
DATE
PRINCIPAL COUPON INTEREST PERIOD TOTAL
2/15/92 75,112.50 75,112.50
8/15/92 150,225.00 150,225.00
2/15/93 200,000.00 7.500000 150,225.00 350,225.00
8115193 142,725.00 142,725.00
2/15/94 225,000.00 7.500000 142,725.00 367,725.00
8/15/94 134,287.50 134,287.50
2/15/95 225,000.00 7.500000 134,287.50 359,287.50
8/15/95 125,850.00 125,850.00
2/15/96 225,000.00 7.500000 125,850.00 350,850.00
8/15/96 117,412.50 117,412.50
2/15/97 225,000.00 7.500000 117,412.50 342,412.50
8/15/97 108,975.00 108,975.00
2/15/98 225,000.00 7.500000 108,975.00 333,975.00
8/15/98 100,537.50 100,537.50
2/15/99 225,000.00 7.500000 100,537.50 325,537.50
8/15/99 92,100.00 92,100.00
2/15/ 0 225,000.00 5.600000 92,100.00 317,100.00
8/15/ 0 85,800.00 85,600.00
2115/ i 225,000.00 5.700000 85,800.00 310,800.00
8/15/ i 79,387.50 79,387.50
2/15/
8115/
2115/
8/15/
2/15/
2 225,000.00 5.800000 79,387.50 304,387.50
2 72,862.50 72,862.50
3 225,000.00 6.000000 72,862.50 297,862.50
3 66,112.50 66,112.50
4 225,000.00 6.100000 66,112.50 291,112.50
8/151
21151
81151
2115/
8/15/
FISCAL TOTAL
2115/
8/15/
2115/
81151
2115/
225,337.50
492,950.00
502,012.50
485,137.50
468,282.50
451,387.50
434,512.50
417,637.50
402,g00.00
390,187.50
377,250.00
363,975.00
59,250.00 59,250.00 350,362.50
225,000.00 6.200000 59,250.00 284,250.00
52,275.00 52,275.00 336,525.00
225,000.00 6.300000 52,275.00 277,275.00
45,187.50 45,187.50 322,462.50
7 250,000.00 6.400000 45,187.50 295,187.50
7 37,187.50 37,187.50
8 250,000.00 6.500000 37,187.50 287,187.50
8 29,062.50 19,052.50
9 250,000.00 6.250000 29,062.50 279,062.50
8115/ g 21,250.00 21,250.00
2/15/10 250,000.00 6.000000 21,250.00 271,250.00
8/15/10 13,750.00 13,750.00
2/15/11 250,000.00 5.500000 13,750.00 253,750.00
8/15/11 6,875.00 6,875.00
6,875.00 256,875.00
3,157,337.50 7,782,337.50
3,157,337.50 7,782,337.50
2115/12 250,000.00
8115112
4,625,000.00
ACCRUED
4,625,000.00
100.0059460
100.0059460
5.500000
DATED 11/15/gl WITH DELIVERY OF 11/15/91
BOND YEARS 51,006.250
AVERAGE COUPON 6.190
AVERAGE LIFE 11.028
N I C ~ 6.189560 Z USING
T I C Z 6.246&76 ~ USING
KEY: 91
PREPARED BY MC~ONEY, BEISSNER & CO., INC.
RUNDATE: 12-06-1991 § 15:53:19 FILENA~IE: CS
332,375.00
316,250.00
300,312.50
285,000.00
270,625.00
256,875.00
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council:
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ ~7S-.~- for Bonds maturing and bearing
interest as follows:
Interest Interest
Maturity Rate Maturity Rate
1996 '7' ~-6 % 2006 ~,~C' %
1997 ~ ~-C % 2007 ~,~D %
1998 'Z gO ~ 2oo8 ~.~%' ~
1999 ~5-~ ~ 2009 ~,.~- ~
2000 ,.C,~ % 2010 ~,~'~' %
2001 .S,7~ % 2011 3~b %
2002 -=~]~£' % 2012 ,~.,..%'£'%
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
~a~l~.. _
The Initial ~onds shall be registered in the ~ame ofrruuenua~-aecurltJeslncorpora~d
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check
of the First City National--Austin~ TX in the amount of $92,500 which represents our
Good Faith Deposit and which is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the
we have made such investigations
investment quality of the Bonds.
Official Notice of Sale and the Official Statement and
as we deem necessary relating to the City and to the
Prudential-Securities Incorporated
Respectfully submitted,
ACCEPTANCE CLAUSE
all things
The foregoing bid is hereby in
Texas, this the day of
Secretary
accepted by the City of College Station,
, 1991.
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Maturity: February 15
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200.000
225.000
225.000
225.000
225.000
225.000
225.000
225.000
22! ,000
22!,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250,000
250,000
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5,031.25
6,662.50
8,518.75
10,600.00
12,906.25
15,437.50
18,193.75
21,175.00
24,381.25
28,193.75
32,256.25
36,568.75
41,131.25
45,943.75
51,006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council:
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ ~-~. ~5'- for Bonds maturing and bearing
interest as follows:
Interest Interest
Maturity Rate Maturity Rate
199~ ~.~ ~ ~oo~ ~ oo
1994 7 ~t> ~ 2oo4 &.oo
1995 ~. ~.~' % 2005 ~. Od)
1996 7~ ~ 20o6 &O0
199~ 7. ~ ' 200? ~ OO
199. 7 ~3 % ~oo8 &.oo
x999 7 ~D ~ ~0o~ ~.OO
~000 7~0' ~ 20x0 ~ O0
~ooi ~' ~ 2Oil 6.~O
zooz S.~O ~ zoi2 6.00
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
The Initial Bonds shall be registered in the name of }~-~CANSA~ CO
(syndicate manager), we will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached ~t~ubmi~ted separately is Bank Certified or Bank Cashier's Check
of the ~I~S~ Austin in the amount of $92,500 which represents our
Good Faith Deposit and which is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
BANK ONE TFXAS, N.A. - Jt }{~r 0~/'~
First City Texas - Jt MET,
TE~{ Bank - Jt gar
Respectfully submitted,
United ~{issouri Bar~ ~ . L~
Hibernia %~,.6r ~-
By.
Ross A. 5~ring, Senior Vice President
Bank One
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200 000
225 000
225 000
225 000
225 000
225 000
225,000
225,000
225.000
225.000
225.000
225.000
225.000
225.000
250,000
250,000
250,000
250,000
250,000
250,000
Maturity: February 15
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5,031.25
6,662.50
8,518.75
10 600.00
12 906.25
15 437.50
18 193.75
21 175.00
24 381.25
28,193.75
32,256.25
36,568.75
41,131.25
45,943.75
51,006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council=
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ ~o-- for Bonds maturing and bearing
interest as follows=
Interest Interest
Maturity Rate Maturity Rate
1993 ,~,g~o % 2003
1994 g.~ ~ 2004 ~.~,
199s ~.~' ~ 2oos
1996 ~'~' % 2006
1997 ~b % 2007 4,¢-f'
1998 ~.~ ~ 2008 ~'.E~
z~99 g~' , zoo9 ~.~.
ooo d % ,
2oo~ ~,c~' ~ 2on
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached ~ereto or subm~tged separately is Bank Certified or Bank Cashier's Check
f '-~ - ~ .
~ ~he ~%~C~-q'~u-,~ ~ .... f~v.~,~, In the amount of $92,500 which represents our
~ood Faith DepoSit ~d 'which is §ubmitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
Southwest Securities: Inc.
Respectfully submitted,
Masterson Moreland Sauer Whisman~ Inc.
Imt V.P.
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250,000
250 000
Maturity: February 15
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5031.25
6662.50
8518.75
10 600.00
12906.25
15437.50
18.193.75
21.175.00
24.381.25
28.193.75
32.256.25
36.568.75
41.131.25
45.943.75
51.006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council=
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ ~ o -- for Bonds maturing and bearing
interest as follows:
Interest Interest
Maturity Rate Maturity Rate
~996 ~ , 2006 ~.~.
1997 ~ % 2007 ~,~
1999 ~,~e ~ 2009 ~ .c~
2ooo ?,~-~~ 2OlO ~
2002 ~.~ ~ 2oi2 ~.~z?
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
The Initial Bonds shall be registered in the name of Lehman Brothers
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check
of the First Cit~ Bank, Austin in the amount of $92,500 which represents our
Good Faith Deposit and which is submitt'ed in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
Respectfully submitted,
LEHMAN BROTHERS
Lebmaa Brothers~ for the manaqers
Thc _rimci-a_ TM = ,/~$=7_~._cr, ~ucriz ~ _" Turner, Inc.
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200 000
225 000
225 000
225 000
225 000
225 000
225 000
225 000
225 000
225 000
225 000
225000
225.000
225.000
250,000
250,000
250,000
250,000
250,000
250,000
Maturity: February 15
Accumulated
Bond Years
250.00
756.25
1,487.50
2.443.75
3.625.00
5.031.25
6.662.50
8,518.75
10,600.00
12,906.25
15,437.50
18,193.75
21 175.00
24,381.25
28 193.75
32 256.25
36 568.75
41 131.25
45 943.75
51 006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council=
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ /~7. ~ for Bo.ds maturing and bearing
interest as follows=
Interest Interest
Maturity Rate Maturity Rate
1994 ~ ?< , 2004 ~ ~o
1996 ~ 7.~' , 2006 ~,~-~
2000 .5';,?< , 2OlO ~,s'"o
2OOl 5,73' ~ 2on .~-,7<-
2002 ~C~c ~ 2o12 5-,?f'
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE ~. ~[3 / %
BAItNEY, I{A~RIS UPfL~M & CO.
The Initial Bonds shall be registered in the nam§~o~rH
(syndicate manager). W~ will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check
of the FIRST CITY - AUSTIN, TX, in the amount of $92,500 which represents our
Good Faith Deposit and which is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
INCOIU~IT, D
Respectfully submitted,
/
./
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Maturity: February 15
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250,000
250,000
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5.031.25
6.662.50
8,518.75
10,600.00
12.906.25
15,437.50
18 193.75
21 175.00
24 381.25
28 193.75
32 256.25
36 568.75
41 131.25
45 943.75
51 006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council=
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ -- ~ -- for Bonds maturing and bearing
interest as follows=
Interest innerest
Maturity Rate Maturity Rate
1993 ~.~.g'"r2 % 2003 ~./~
1994 ~.~ % 2004 ~.~
1995 ~.£'~ % 2005 ~-~-
1996 ,~"-D % 2006 d'~'
1997 ~.C'~ % 2007 (,£~
199o % 2000
z,,9 2009
2000 , 20 0
200z 20zz
2002 ~,~ ~ 2012 g'~'
Interest cost, in accordance with the above bid, is=
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
The Initial Bonds shall be registered in the name of ~~C~' ~ ~-O
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attac~bed hereto or submitted separately is Bank Certified or Bank Cashier's Check
of the~%~%T ~,~-%a , in the amount of $92,500 which represents our
Good Faith Deposit and w~ich is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
Respectfully submitted,
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Maturity: February 15
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
~50,000
250,000
250,000
250,000
250.000
25( ,000
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5,031.25
6,662.50
8,518.75
10,600.00
12,906.25
15,437.50
18,193.75
21,175.00
24,381.25
28,193.75
32,256.25
36,568.75
41,131.25
45,943.75
51,006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council:
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ -~ -- for Bonds maturing and bearing
interest as follows:
Interest Interest
Maturity Rate Maturity Rate
2005 J
2002 ~, 6=~ % 2012 ~ 2J
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
Interest cost, in accordance with the above bid, is:
$ ~ ~
The Initial Bonds shall be registered in the name of Southwest Securities. Ina.
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
~~2~ or submitted separately is Bank Certified or Bank Cashier's Check
of the First City Texas , in the amount of $92,500 which represents our
Good Faith Deposit and which is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
Barre & Company - Jr. M~r.
Morgan KeeKan - Jr. MKr.
Edward D. Jones - Jr. M~r.
First Tennessee Bank ~'.~
Respectfully submitted,
Warren M. Newman, Vice President
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250,000
250,000
Maturity: February 15
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5,031.25
6,662.50
8.518.75
10.600.00
12.906.25
15,437.50
18.193.75
21.175.00
24.381.25
28.193.75
32.256.25
36.568.75
41.131.25
45.943.75
51.006.25
Average Maturity ......... 11.028 Years
OFFICIAL BID FORM
Honorable Mayor and City Council
City of College Station
College Station, Texas
Mayor and Members of the City Council:
This bid is submitted under the bidding conditions of your Official Notice of
Sale dated November 21, 1991 of $4,625,000 City of College Station, Texas, General
Obligation and Refunding Bonds, Series 1991, the terms and conditions of which
Official Notice of Sale are made a part hereof.
For your legally issued $4,625,000 of Bonds, as described in said Official Notice
of Sale, we will pay you par and accrued interest from date of issue to date of deli-
very to us, plus a cash premium of $ -- ~--- for Bonds maturing and bearing
interest as follows:
Interest Interest
Maturity Rate Maturity Rate
1993 ~.~ ~ 2003 {.lc,
1994 ~.c-'o % 2004 ~.Z~'"'
1995 ~.~ ~ 2005 ~,z s-
1996 ~.c~, , 2006 ~.~ ~
1998 ~,~"~~ 2008 ~,.z~'
1999 ~.~'~~ 200, ~.~-<'
2000 ~.7~ ~ =o~o g.z~
~oo2 ~.~ ~ ~o~2 d.;~
Interest cost, in accordance with the above bid, is:
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
The Initial Bonds shall be registered in the name of NCNB Cmp~&~ Hmrke~s, Inc.
(syndicate manager). We will advise First
City, Texas-Houston, N.A., Houston, Texas, the Paying Agent/Registrar, our registration
instructions at least five business days prior to the date set for Initial Delivery.
We will not ask the Paying Agent/Registrar to accept any registration instructions
after the five day period.
The undersigned agrees to complete, execute, and deliver to the City, on or be-
fore the date of delivery of the Bonds, the Issue Price Certificate, in the form
enclosed as Exhibit A to the Official Notice of Sale.
Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check
of the F~FS~ ~tv. Texas, Au.~{._ TX , in the amount of $92,500 which represents our
Good Faith Deposit and which is submitted in accordance with the terms as set forth in
the Official Notice of Sale.
We have read in detail the Official Notice of Sale and the Official Statement and
we have made such investigations as we deem necessary relating to the City and to the
investment quality of the Bonds.
NCNB Capital Markets, Inc. ) Jr.
Texas Commerce Bank )
Harris Trust & Savings Bank) Mgrs.
Respectfully submitted,
The Northern Trust Co.
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accepted by the City of College Station,
Texas, this the day of , 1991.
ATTEST:
Secretary Mayor
ACCUMULATED BOND YEARS
$4,625,000
City of College Station, Texas
General Obligation and Refunding Bonds
Series 1991
Dated: November 15, 1991
Maturity: February 15
Year of
Maturity
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Amount
of Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250,000
250,000
Accumulated
Bond Years
250.00
756.25
1,487.50
2,443.75
3,625.00
5,031.25
6,662.50
8,518.75
10,600.00
12,906.25
15,437.50
18,193.75
21,175.00
24,381.25
28,193.75
32,256.25
36,568.75
41,131.25
45,943.75
51,006.25
Average Maturity ......... 11.028 Years
5EC O.~ '~1 0::28P;'! FIPST SOOTNNEST ,"?'IPA;~f
Honor&Sis Mayor and ¢£ty Council
College Stat£on, Texas
This bid Is submit=ed under the b~dding conditions o~ you= O£~lcisl ~ot~ce of
Obligation and Re~und£ng ~o~s, SerAes 19~1, t~e terms and ~ondi~ons of ~hlc~
0~[£c£al ~otice o~ ~a!e are made a parn hereo~.
For your legally issued $4,625,000 o~ BOndS, as described in said O~ficial Not,ce
Sale, we w~ll pay yo~ par and accrued[ntere~ from ante of issue ~c dare of deli-
interest as ~ollows~
~nce~es~
199) '..__~---% 2003
199¢ / % 2004
~995 k % 2005
1996 % 2006
1997 % 2007
2000 ~.~.--, '% 2010
2001 ~.m~--~% 2011
2002 _~% 2012
Gross Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE ~NTEREST RATE
Interest cost, in accordance wl=~ tAe above bid, ia:
-- ! ·
:/5
The Initial Bonds s~all be registered in the name o~ F~rSt ~ou?hwe$~
~syndica~e manager), we w~il advise F~rs~
C~t¥, Texas-Houston, N.A., Housnon,'Texes, ~he Payi~g Agent/Registrar, our
insnruculOnS at least ~ive business days prior to =he ~a=e set for Initial Delivery.
We w~ll not ask the Paying Agent/Reg~s=ra= %o accep= any registration ~nstruc:~o~s
The undersigned e~rees to complete, execs%e, an~ aeliver to ~he Tidy, on or Os-
fore ~ne da~e o~ deliver~ o~ t~e Bonds, the Issue Price Certx~lcata, in ~he form
enclosed as Exh£bit ~ uo =he Of[icial Notice of Sale.
A%~acAed nere~o or submit%ed separately is ~ank Certified or Ban~ Cashier's Check
of the ~;-o- ~;Tv T~..~_ a,,e~ , in %be amount of S92,500 whi=~ represents o~r
~he Offficia% No~ice of Sale.
DEC Of '"~ .... 02.:Z.c~;~'1 riF~C~T £,',UTHHEST ,-C, P1P~I,I~ .c.2
We have read ~n de~a~L ~he O~l~ial ~o~i~e of sale an~ t~e ~f~i~ia! ~a~m~nt and
investment quality of t~e Bonds.
Respectfully submit[ed,
ACCEPTANCE CLAUSE
The foregoing bid is hereby in all things accep[ed ~y ~hs Ci=y of College S~ation,
?exes, =h~s ~he ~ay o~ , 1991,
ATTEST~
ACCUXULATED 80ND Y~A~S
City of Co[loge gtation, Texas
General Ob[tga~ion and Refunding Bonds
Series 1991
Da~ed: November 15, 1991
Ma[uri:yt February [5
1993
%994
199~
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
o£ Bonds
$200,000
225,000
225,000
225,000
225,000
225,000
225,000
225,000
22~,000
225,000
225,000
225,000
225,000
250,000
250,000
250,000
250,000
250 000
250,000
Accumulated
Bond Years
2S0.00
756.25
1,487.$0
2,443.75
3,625.00
5,031.25
6,662.50
i0,~00.00
2[,[75.30
28,193.75
32,256.2S
3~,568.75
45,943.7~
51 006.25
Average Maturity ......... 11.028 Years