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HomeMy WebLinkAbout05/15/1984 - Special Minutes City Council MINUTES SPECIAL CITY COUNCIL MEETING TUESDAY, MAY 15, 1984 5:00 P.M. COUNCIL MEMBERS PRESENT: COUNCIL MEMBERS ABSENT: STAFF PRESENT: VISITORS PRESENT: Mayor Halter, Councilmen Anderson, Boughton, McIlhaney, Prause, Reinke, Runnels None City Manager Bardell, Assistant City Manager VanDever, City Attorney Denton, Assistant City Attorney Locke, City Secretary Jones, Deputy Finance Director Schroeder, Director of Capital Improvements Ash, Council Coordinator Jones See guest register. Agenda Item No. 1 - Council Concerns. Councilman Reinke stated that the stop sign at the intersection of Francis and Walton is down. Councilman McIlhaney asked if there is an ordinance which prohibits travel trailers from parking curbside on residential streets. City Manager Bardell stated that the city does have an ordinance which prohibits these vehicles from parking on the street. He noted that if the city receives a complaint then an attempt is made to remedy the problem. Agenda Item No. 2 - Emergency Item: Closed session to discuss pending litigation [6252-17(2)(e)]. The Council moved to closed session and later reopened to the public. Agenda Item No. 3 - Closed session to discuss personnel [6252-17(2)(g)]. A. Personnel [6252-17(2)(g)]. 1. Discussion of Administrative Personnel. Agenda Item No. 4 - Action on closed session. No action was taken on closed session. Agenda Item No. 5 - Receipt and opening of bids on $8,630,000.00 General 9bligation Bonds, Series 1984 and $17,380,000.00 Utility System Revenue Bonds, Series 1984. 00&367 SPECIAL CITY COUNCIL MEETING TUESDAY, MAY 15, 1984 PAGE 2 Financial Advisor David Fetzer of Moroney, Beissner & Co., opened and read the following submitted bids: On the $17,380,000.00 Utility System Revenue Bonds, Series 1984, Rauscher Pierce Refsnes, Inc., Mgr. et al., bid a Net Interest Cost of $18,380,852.15 with an effective interest rate of 10.06425%. Dean Witter Reynold, Inc., Mgr. et al., bid a Net Interest Cost of $18,626,888.75 with an effective interest rate of 10.198969%. Goldman, Sachs, Inc., Mgr. et al., bid a Net Interest Cost of $18,759,641.10 with an effective interest rate of 10.271657%. The First Boston Corp. et al., bid a Net Interest Cost of $18,336,128.10 with an effective interest rate of 10.0397%. Solomon Brothers and Associates et al bid a Net Interest Cost of $18,407,883.23 with an effective interest rate of 10.0790%. On the $8,630,000.00 General Obligation Bonds, Series 1984, Interfirst Bank of Dallas et al bid., a ~;et Interest Cost of $9,325,144.20 with an effective interest rate of 10.1445%. Rotan Mosle, Inc., Jt. Mgr. et al., bid a Net Interest Cost of $9,098,075.00 with an effective interest rate of 9.897550%. Rauscher Pierce Refsnes, Inc., Mgr. et al., bid a Net Interest Cost of $9,224,475.00 with an effective interest rate of 10.0350%. Mr. David Fetzer stated that he would take a few minutes to review the bids that were received and announce their recommendations to the Council. At this time, Mr. Dick Richards and Mr. Roland Geddie, of Baker & Botts, presented proposed Ordinances of the Utility System Revenue and General Obligation Bonds which provided necessary details of the bond sale and acceptance of the low bid that was submitted. Agenda Item No. 6 - Award of contract for sale of $8,630,000.00 General Obligation Bonds, Series 1984 and $17,380,000.00 Utility ~ystem Revenue Bonds, Series 1984. After a final report and recommendations of the Financial Advisors, Councilman Anderson moved to accept the low bid from First Boston Corporation et al for the Utility System Revenue Bonds and to create Ordinance No. 1516 which initiates the acceptance of the bid. Councilman Bou~ton seconded the motion which was approved unanimously, 7-0. 00 368 SPECIAL CITY COUNCIL MEETING TUESDAY, MAY 15, 1984 PAGE 3 Councilman Boughton moved to accept the low bid from Rotan Mosle, Inc., Jt. Mgr. et al for the General Obligation Bonds and to create Ordinance No. 1517 which initiates the acceptance of the bid. Councilman McIlhaney seconded the motion which was approved unanimously, 7-0. Agenda Item No. 7 - Consideration of a real estate contract for the purchase of .75 acres for lease to the Bryan/College Station Chamber of Commerce. City Attorney Denton presented the item. He summarized the changes that were made in the real estate agreement draft as follows: 1) the Seller will provide sweeping and cleaning of all paved areas upon Purchaser's property at no cost for a period of ten years; 2) at the election of the Purchaser, Seller shall provide landscape and maintenance services for ten percent of the Seller's actual cost of doing these services on their own property; 3) an architectural committee, composed of individual members of the Chimney Hill Joint Venture and the Mayor of the City of College Station, shall have sole architectural control; and 4) the Seller has agreed not to impose any limitations on the height of the building, but rather agreed to the restrictions imposed by the city's current requirements for provision of parking spaces for property of similar use. Councilman McIlhaney asked if the city had received the $12,000.00 from the Bryan/College Station Chamber of Commerce. City Attorney Denton stated that the funds have not been received. Councilman Runnels moved approval of the adoption of the real estate contract for the purchase of .7500 acres for lease to the Bryan/College Station Chamber of Commerce. Eouncilman Boughton seconded the motion which passed by a vote of 5-1-1 as follows: FOR: Mayor Halter, Councilmen Boughton, Prause, Reinke, Runnels %GAINST: Councilman McIlhaney %BSTENTION: Councilman Anderson ~genda Item No. 8 - Consideration of an agreement and lease between the ~ity and the Chamber of Commerce for the Tourist and Convention Bureau, ~roviding for the purchase or exchange of services in connection with ~dvertising, tourist and convention promotion, and delegate ~egistration/hospitality services. ~ity Attorney Denton presented the item. He thanked Dick Richards for his input on structuring the Certificate of Obligation transaction for the ~hamber of Commerce. He explained that the city will be purchasing ~ervices from the Chamber in connection with advertising, tourist and ~onvention promotion, and delegate registration/hospitality services. He 00h369 SPECIAL CITY COUNCIL MEETING TUESDAY, MAY 15, 1984 PAGE 4 further stated that the city will pay a fair and reasonable price for the services performed by the Chamber, less the value of the lease space provided. He summarized the proposed lease agreement. He stated that in Article IV, Payment, a sentence was added at the end of the paragraph which reads "The price shall be set by mutual agreement, and derived at in good faith in each city fiscal year." In Article V, Development and Renovation, a provision was added which will require the Chamber to certify the existence and control of such funds on the availability of the dollars. He further stated that the Council needs to provide a completion date for the renovation and remodeling program. He further explained a provision that was added to the document concerning "incidental use" of the property. The Council concurred on 180 days for completion of the renovation and remodeling program with a 90 day extension period. Councilman McIlhaney asked when the Council will receive Exhibit "A". City Attorney Denton stated that he had received a draft from Anne Bell, but would like to review it with her and list the specifics of each item. Councilman McIlhaney asked if the Chamber Board has officially adopted this agreement. City Attorney Denton replied negatively and noted that they will consider the agreement subsequent to the Council's consideration. Councilman Prause moved approval of Ordinance No. 1518 authorizing the Mayor and City Manager to execute an agreement styled "AGREEMENT FOR LEASE, OCCUPANCY AND USE OF PUBLIC PROPERTY AND THE PROVISION OF ADVERTISING AND TOURIST PROMOTION SERVICES FOR THE CITY OF COLLEGE STATION". Councilman Runnels seconded the motion which passed by a vote of 6-0, with Councilman Anderson abstaining. ~genda Item No. 9 - Adjourn. Mayor Halter adjourned the meeting. Attest: Gary H/,~ayoral-t~f Dian Jones,/~Ci~y Secretary May 16, 1984 Mr. North Bardell, City Manager City of College Station P.O. Box 9960 College Station, Texas 77840 RECEIVED MAY 2 1 191 Dear Nor th: Enclosed are the bids received last evening on the City's $8,630,000 General Obligation Bonds, Series 1984, and $17,380,000 Utility System Revenue Bonds, Series 1984, including the winning bids. These should be kept as part of the City's permanent records. Also enclosed is a tabulation of all bids received, which is today being sent to our dealer mailing list of approximately 250 bond houses across the United States. A principal and interest payment schedule will be prepared within the next few days, at which time a copy will be sent to you and the paying agent bank, First City National Bank of Houston. If you have any questions, or we may be of assistance in any way, please do not hesitate to call. Yours very truly, Assistant Vice President GR: cm Enclosures /9/9 ooa3' 2 OFFICIAL BID FORM GENERAL OBLZGA TZON BONO5 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 May 1, 1984 of $8,630,000 City of College Station, Texas General Obligation Bonds, Series 1984, the terms and conditions of which "Official Notice of Sale" are made a part hereof. For your legally issued $8,630,000 of Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest item date of issue to date of delivery to us, plus a cash premium of $ ~ ~ - for Bonds maturing and bearing interest as follows: Interest Interest Interest Maturity Rate Maturity Rate Maturity Rate 1985 //. ~ % 1992 ././' ~ Z 1999 /'d./O 1986 //.Z~ % 1993 /~.~ % 2000 /O. ~ 1987 //~ z ~99~ fl~ ~ 2001 /'e ~ 1990 //.~"0 Z 1997 ~ fO ~ 2004 ~ ~ 1991 /'Z~ ~ 1998 ./~. ~O ~ Interest cost, in accordance with the above bid, is: Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE Rotan Mosle Inc. · The Initial Bonds shall be registered in the name of (syndicate manager). We will advise the First City National Bank of Houston, 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 instructious after the five day period. Attached hereto or submitted separately is Bank CertLfied or Sank Cashier's Check of the ~J-~$t City l~a~'ln the amount of $172,600, 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 investlgat[ons as we deem necessary relating to the City and to the investment quality of the Bonds. Respectfully submitted, Rotan Mosle Inc. Michael G. Wadsworth Senior Vice President 00 37 ACCePTAnCE CLAUSE the ATTEST: /..__ forego~,ng~bid is hereby in all things accepted by the City of College Stat[on, Texas this ay of ~ , 1984. Secretary ACCDMIFL,ATED BOND YEARS $8,630,000 CITY OF COLLEGE STATION, TEXAS General Obligation Bonds Series 1984 Dated: May 1, 1984 Maturity: February I Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Amount of Bonds $130 000 400 000 450 000 450 000 450 000 45O 000 450 000 450 000 450 000 450 000 450 000 45O 000 450000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 Accumulated Bond Years 97.50 797.50 2,035.00 3,722.50 5,860.00 8,447.50 11,485.00 14,972.50 18,910.00 23,297.50 28,135.00 33,422.50 39,160.00 45,347.50 51,985.00 59,072.50 66,610.00 74,597.50 83,035.00 91,922.50 Average Maturity - 10.65 Years $8,630,000 City o! College Station G.O. Sells: Tuesday, May 15, 1984 Rotan Mosle Inc. Kidder, Peabody & Co., Inc. Merrill Lynch Cap. Markets Group Republic Bank Shearson/American Express Inc. A.C.I. 1nc. Epp]er, Guerin & Turner Inc. First National Bank Securit]es Corp. of Iowa Stifel Nico]aus & Co., Inc. Houston San Antonio Dall~s Dallas Dallas Houston Dallas Boston St. Paul Dallas Joint Managers $8,630,000 CITY OF COLLEGE STATICH, TEXAS LiuiCed Tax General ObligaClon Series 1984 Selling: 05-15-84 @ 7:30 P.N. CDST CG~'EN & CO.-Nwr. BancTexas Dallas, B.A.-Dallas CaplCal National Bank, N.A.-HousCon M. E. Allison & Co., Inc.-San Antonio Alex Brown S Sons, Inc.-Dallas A. G. Edwards & Sons, Inc.-SC. Louis Greet, Horeland, Fosdlck & Shepherd, Inc.-Houston Masters, Sanford, Coon, Ward, Holland, Inc.-Houston Smith, Barney, Harris, Upham, Inc.-Dallas DEAN WlTTERREYNOLDS, INC.-Jr. Hgr. DREXEL, BURNHAIq, LAIqBERT, INC.-Jr. L. F. Rothschild & Co., Inc.-N.Y. Stifel Nicolaus & Co., Inc.-St. Louis Thomson HcKinnon Securicles, Inc.-N.Y. WesCcap Securities, Inc.-Houston Howard Well Labouisse Friedrichs, Inc.-New Orleans OFFICIAL BID FORM GENERAL OBLfGATION BONDS Honorable Mayor and City Council City of College Stat/on College Station, Texas Nayor and Hembers of the City Council: This bid is submitted under the bidding conditions of your "Official Notice of Sale" dated Nay 1, 1984 of $8,630,000 City of College Station, Texas General Obligation Bonds, Series 1984, the terms and conditions of which "Official Notice of Sale" are made a part hereof. For your legally issued $8,630,000 of Bonds, as described in said "Official Notice of Sale," vii1 pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ Maturity 1985 1986 1987 1988 1989 1990 1991 for Bonds maturing and bearing interest as follows: Interest Interest Interest Rate Maturity Rate Maturity Rate /~ ~'-o % 1992 /~5-o % 1999 /~,c'-~ /~, ~-o % 1993 /~ ~-o I 2000 /C5 / o /~.q"o % i994 /~,.q'O % 2001 /~.~o / ~. 4"'0 % 1995 (~'7~ ~ 2002 /[..~C /~'..~-c z 1997 ?. ?~ z 2004 ~, ~-~ 1~'~'~ Z 1998 /C.~'"O I Interest cost, in accordance with the above bid, is: Less Premium $ NET INTEREST COST $ '7) ~ ~Z~, ~. ,~'~ The Inittal Bonds shall be registered xn the name of 1RAIJS~I-IER pTEI~ R~&~V~..~: T~C: (syndicate manager). We will advise the First City National Bank of Houston, 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 ~nstructlons after the five day period. ~ submitted separately is Bank Certified or Bank Cashier's Check of the F~ Citv Nat±trial Bank in the amount of $172,600, 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 q,u, lity of the Bonds. Respectfully submitted, RAUSCHER PIEiRCE REFSNES, INC, & ASSOCIATES (see attached) the AG~PTAB~ The foregoing bid is hereby in all things accepted by the City of College Station, Texas this ~ day of , 1984. ATTEST: Secretary Mayor, City of College Station ACCUMULATED BOND $8,630,000 CITY OF COLLEGE STATION, TEXAS General Obligation Bonds Series 1984 Dated: May 1, 1984 Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Amount of Bonds $130,000 400 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 45O 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 Average Maturity - 10.65 Years Maturity: February I Accumulated Bond Years 97.50 797.50 2,035.00 3,722.50 5,860.00 8,447.50 11,485.00 14,972.50 18,910.00 23,297.50 /,c~' ~ . 28,135.00.'? 33,422.50.., 39,160.00 ' ' 45,347.50 51,985.00 1 59,072.50 66,610.00 L 74,597.50 83,035.00 I --,'! 91,922.50 ~' RA~SCHER PIERCE REFSNES, INC. BEAR STEAN~S & CCHPANY GO~, SA~{S & CC~PANY Iv~_2~_~ai~TTT.V. BANK, D~T.T~S PI~TDENTIAL-BACHE SECURITIES, INC. UNDERWEX]D, NEUHAUS & CO., INC. BancTexas Dallas, N.A. Drexel Burnham Lambert Incorporated Hutchinson, Shockey, Erley & Co. John Nuveen & Co., Inc. Schneider, Bernet & Hickman, Inc. Texas Amarican Bank/Fort Worth Westcap Securities, Inc. IN ASSOC/_ATION WITH: FIRST CITY NATICNAL BANK OF HOUSTON E. F. HI/iTOM & C[/V~, INC. Allied Bank of Te~s 00 377 OFFICIAL BID FORN GENERAL OBLZGA TZON BOND5 Honorable Hayor and City Council City of College Station College Station, Texas Nayor and Nembers of the City Council: This bid is submitted under the biddlnS conditions of your "Official Notice of Sale" dated Way 1, 1984 of ~8,630,O00 City of College Station, Texas General Obligation Bonds, Series 1984, the terms and conditions of which "Official Notice of Sale" are made a part hereof. we will you~ premium f;~ 1985 1986 1987 1988 1989 1990 1991 For your legally issued $8,630,000 of Bonds, as described in said "Official Notice of Sale," and accrued interest from date of issue to dace of delivery to us, plus a cash for Bonds maturing and bearing interest as follows: Interest Interest Interest Rate Naturity Rate Haturit¥ Rate /l~.: 1992 ?.~ : 1999 /~,a~ t/.C"~ ~ 1993 ?,~' 2 2000 /gZ.~ //. ~ ~ ~6 ?. ~ o ~ 2oo~ iv, ~ //,~ z l~ /~.~ ~ 200a /~.~o 1998 Interest cost, in accordance with the above bid, is: Less premium $ ~.¢~; ~I* N'~T INTEREST COST $ 9, -~-~77// ¢~. EFFECTIVE INTEREST ~TE /~'./~ Z The Initial Bonds shall be registered in the name of (syndicate manager). We will advise the First City National Bank of Houston, Houston, Texas, the Paying Agent/Registrar, our registration instructions at least five business days prior to the date set for Initial ~elivery. ~e wilt not ask the Paying Agent/Registrar to accept any registration instructions after ~he five day period. Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check of the __ , in the amount of $172,600, which represents our Good Faith Deposit and which is submitted in accordance with the terms as sec forth in the "Official Notice of Sale." ~e have read in detail the "Official Notice of Sale" and the "Official Statement" and ~e have reade such investigations as we deem necessary relating to the City and to the investment quality of the Bonds. Respectfully submitted, InterFirst Bank Dallas t, Associates the ACCg PTAIqC~ CLAUSE The foregoing bid is hereby in all things accepted by the City of College Station, Texas this ~ day of , 1984. AT'lES T: Secretary Mayor, City of College Station ACCOI~]LAT~D BOND YEA.RS $8,630,000 CITY OF COLLEGE STATION, TEXAS General Obligation Bonds Series 1984 Dated: May 1, 1986, Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Amount of Bonds $130 000 400 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 450 000 45O 000 Average Maturity - 10.65 Years Maturity: Accumulated Bond Years 97.50 797.50 2,035.00 3,722.50 5,860.00 8,447.50 11,485.00 14,972.50 18,910.00 23,297.50 28,135.00 33,422.50 39,160.00 45,347.50 51,985.00 59,072.50 66,610.00 74,597.50 83,035.00 91,922.50 February I OFFICIAL BID FORM REVENUE BONDS Honorable Mayor and City Council City o£ College Station College Station, Texas Hayor and Members of the City Council: This bid is submitted under the bidding conditions of your "Official Notice of Sale" dated May 1, 1984 of $17,380,000 City of College Station, Texas Utility System Revenue Bonds, Series 1984, the terms and conditions of ~hich "Official Notice of Sale" are made a part hereof. For your legally issued $17,380,000 of Bonds, as described in said "Official Notice of Sale," we will pay you ~a~ and accrued interest frcnn date of issue to date of delivery to us, plus a cash premium of $ ~ / ~$- for Bonds maturing and bearing interest as follovs: Iht eres t Tnt eres t lnt e res Naturity Rate Maturity Rate Naturity Rate 1985 //.~e-¢, % 1991 /I ~;5 ~ 1997 /0.~ 1986 //' '~ ~ 1992 //'~ ~ 1998 ~ 1987 // ~ ~ 1993 //.~O 1 1999 ~'~O 1988 l/ ~=' 1 1994 ~ '~'~ ~ 2000 ~ ~' ~ ~989 // ~" ~ ~99~ ~'TS' ~ ~oot ~'a~ 1990 // ~ ~ 1996 /~ ~'P ~ Interest cost, in accordance with the above bid, is: Gross Interest Cost $/ ~ ~:~ ,~¢$. Less Premium $ 4 //~' ~' ~T ZNTEREST COST $ /~ ~ ~, /~'/~ EFFECTIVE ZNTBREST RATE /d, ~.~ ~ The Initial Bonds shall be registered in the name of Th~ Firs~ Boston Corpora~io~ (syndicate manager). We rill advise the First City National Bank of Houston, Houston, Texas, the Paying Agent/Registrar, our registration instructions at least five business days prior ~o the date set for Initial Delivery. ~e will not ask the Paying Agent/Registrar to accept any registration instructions after the five day period. X[~iI~~X submitted separately is Bank Certified or Bank Cashier"s Check of the National Bank , in the amount of $347,600, which represents our Good Fa[th Deposit and which su~itted in accordance with :he rems as set forth in the "Official No:ice of Sale." ~e have read in detail the "Official Notice of Sale" and the "Official Statement" and we have ~de such investigations as we deem necessary rela~/ng to the City and :o the investment q~lity of :he Bonds. Respectfully submitted, The Firsl Boston Corporation OO 3'"f 9 ACCEPTANCE CLAUSE d.~The foregoinR b~d is hereby in al! things accepted by the City of Co!lege Station, Texas this the /.~---~" day of ~-~.~_. , 1984. ATTEST: S~cretary Ma'~or, (~t~ o/~ol-l'e-ge Station ? ACCUNULATKD BOND YEARS $17,380,000 CITY OF COLLEGE STATION, TEXAS Utility System Revenue Bonds Series 1984 Dated: May I, 1984 Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Amount of Bonds $ 255,000 400,000 550,000 700,000 700,000 700,000 700,000 1,000,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 Average Maturity - 10.51 Years Maturity: Accumulated Bond Years 191.25 891.25 2 403.75 5 028.75 8 353.75 12 378.75 17 103.75 24 853.75 36 885.00 50 291.25 65 072.50 81 228.75 98 760.00 117 666.25 137947.50 159 603.75 182 635.00 February I OFFICIAL BID FORN REVENUE BONDS 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 May l, 1984 of $17,380,000 City of College Station, Texas Utility System Revenue Bonds, Series 1984, the ter~s and conditions of which "official Notice of Sale" are made a part hereof. For your legally issued $17,380,000 o£ Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, pins a cash premium of $ ~ ~'~). ~-~ for Bonds maturing and bearing interest as follows: Interest Interest Interest Maturit~ Rate blaturity Rate blaturity Rate 1985 //.-<'~ z 1991 //.~-~ z 1997 /~' ~ 1986 I/,-~"D % 1992 //,,~. ~ 1998 /~,~ 1988 /~-~ I 199a ~.&~ I 2000 ~.~C interest cost, in accordance with the above bid, is: Gross Interest Cost $ Less Premium NET INTEREST COST EFFECTIVS INTEREST RATE //[,. e&4~2.~-~' Z ~e In~Ci~l Bonds sh~I1 be registered i~ ~he n~e of ~~ PTR~ ~~ (syndicate ~er). ~e ~ll ~dv~se ~he F~rs~ C~y N~klo~l Bank of Houston, Houston, Texas, P~y~n~ A~enC/Re~is~rar, our registration ~ns~ruc~ons ~ leas~ five bus,ness days prior ~o ~he da~e se~ for Initial Delivery. ~e will no~ ask the Paying Agent/Registrar to accept any registration ins:ructlons af:er :he five day period. ~submitted separately is ~nk Certi[ied or Bank Cashier's Check of the ~ ~itv Na~l ~ia the amount of $347,600, ~hlch represents our Good Pai:h Deposit and which is su~itced in accordance with ~he te~s as set forth in the "Official Not/ce of Sale." We have read in de:ail :he "Official Notice of Sale" and the "official Statement" and we have ~de such investigations as we deem necessary rela:in& to :he City and to :he investment q~lity of the B~ds. PAU~R PIEi~/E REFS~ES, INC. & ASSOCIATES (see attached) Respectfully submitted, 00 380 the ACCEPTANCE CLAUSE The foregoing bid is hereby in all things accepted by the City of College Station, Texas this -- day of , 1984. ATTEST: Secretary Mayor, City of Collese Station ACCUMULATED BOND YEARS $17,380,000 CITY OF COLLEGE STATION, TEXAS Ucility System Revenue Bonds Series 1984 Dated: May 1, 1984 Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Amount of Bonds $ 255 000 400 000 550 000 700 000 700 000 700 000 700 000 1,000 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 Average Maturity - 10.51 Years Maturity: Accumulated Bond Years 191 25 891 25 2,403 75 5,028 75 8,353 75 12,378 75 17,103 75 24,853 75 36,885.00 50,291.25 65,072.50 81,228.75 98,760.00 117,666.25 137,947.50 159,603.75 182,635.00 February I RAUSCHER PIERCE REFSNES, INC. UN~E~D, NEUHAUS & CO., INC. BEAR STEARNS & CC~PANY BLYTH EASTMAN, PAINE ~EBBER INC. GOLDMAN, S~EHS & OCMP~ KIDEER, PEABODY & CO., INC. PRLT~TIAL-BACHE SECURITIES, INC. Claytcn Brown & Associates, Inc. Hutchinson, Shockey, Erley & Co. John Nuveen & Company Schneider, Bernet & Hickman, Inc. IN ASSOCIATION WITH: ROTAN MOSLE INC. MERRILL LYNCH CAPITAL MARKETS SHEARSCN/AMERICAN EXPRESS INC. First South~st Company 00 .381 OFFICIAL BID FORM REVENUE BONDS Honorable Mayor and City Council City of College Station College Station, Texas Mayor and Menbers of the City Council: This bid is submitted under the bidding conditions of your "Official Notice of Sale" dated May 1, 1984 of $17,380,000 City of College Station, Texas Utility System Revenue Bonds, Series 1984, the terms and conditions of which "Official Notice of Sale" are made a part hereof. For your legally issued S17,380,000 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 delivery to us, plus a cash premium of $ 1.1-5 for Bonds maturing and bearing interest as follows: Interest Interest Interest Maturity Rate Maturity Rate Maturit~ Rate 198s 11..50 z 1991 11.50 z 1997 ]0.00 z 1986 11.50 Z lgg~ 11.50 Z 1998 10.25 ~gs~ 11.50 1 1993 11.10 z 1999 9.50 1988 11.50 ~ 1994 9,60 ~ 2ooo 9.50 1989 11.50 ~ 1995 9.80 ~ 2001 9.50 1990 11.50 ~ 1996 10.00 ~ Interest cost, in accordance with the above bid, is: Cross Interest Cost $ 1 R: A07: RRA _ q7 Less Premium $ 1.15 I~T INTEREST COST $18.407.883.23 EFFECTIVE INTEREST PATE 10.0790 Z The Initial Bonds shall be registered in the name of (syndicate manager). We will advise the First City National Bank of Houston, 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 regtstratton instructions after the five day period. Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check of the , in the amount of $347,600, 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 C~ty and to the investment quality of the Bonds. Respectfully submitted, SALOMON BROTHERS S ASSOCIATES BY: SALOMOU BROTHERS Ai~-rew F. Ro-wley~- .~ Vice President Municipal Bond Department 00 382 the A¢CEPTA#C~ CLAUSE The foregoing bid is hereby in all things accepted by the City of College Station, Texas th~s day of , 1984. ATTEST: Secretary Hayor, City of College Station ACCDIqDLATED BOND YEARS $17,380,000 CITY OF COLLEGE STATION, TEXAS Utility System Revenue Bonds Series 1986 Dated: Nay 1, 1986 Year of 1985 1986 1987 1988 198q 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 ~mount of Bonds $ 255 000 600 000 550 000 700 000 700 000 700 000 700 1,000 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 Average Maturity - 10.51 Years blaturity: Accumulated Bond Years 191.25 891.25 2,603.75 5,028.75 8,353.75 12,378.75 17,103.75 26,853.75 36,885.00 50,291.25 65,072.50 81,228.75 98,760.00 117,666.25 137,947.50 159,603.75 182,635.00 February 1 OFFICIAL BID FORH REVENUE BONDS Honorable Hayor nod City Council City of College Station College Station, Texas Hayor and Nembers of the City Council: This bid is submitted under the bidding conditions of your "Official Notice of Sale" dated Nay 1, 1984 of $17,380,000 City of College Station, Texas Utility System Revenue Bonds, Series 1984, the terms and conditions of which "Off/cia[ Notice of Sale" are made a part hereof. For your legally issued $17,380,000 of Bonds, as described in said "Offlcial Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ /. ~.~,,~ for Bonds maturing and bearing interest as follows: Interest Interest Interest Naturit¥ Rate Haturity Rate Haturlty Rate 1986 /t/. ~'"f., I; 1992 //,,.'-L. I; 1998 1989 //. ~G Z 1995 '/.'/6 ~ 2001 1990 /I.~C, ~ 1996 /0 [~ ~ Interest cost, in accordance with the above bid, is: Cross Interest Cost $ Less Premium $ NET INTEREST COST $ EFFECTrVE INTEREST RATE ,'~i /V~b~ g The Initial Bonds shall be registered in the name of Dean Witter Reynolds~ Inc. (syndicate manager). We will advise the First City National Bank of Houston, 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. Attached hereto or submitted separately is Bank Certified or ~ank Cashier's Check of the First City Bank of Aust~n the amount of $347,600, 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. (please see attached sheet) Respectfully submitted, . ^ J, 00 383 the ACCEPTANCE CLAUSE The forego{nS bid {s hereby in all things accepted by the City of College Station, Texas this day of , 1984. ATTEST: Secretary Mayor, C{ty of College Stat{on ACCUMULATED BOND YEARS $17,380,000 CITY OF COLLEGE STATION, TEXAS Ut{l{ty System Revenue Bonds Series 1984 Dated: May 1, 1984 Year of Matur£ty 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Amount of Bonds $ 255 000 400000 550000 700 000 700 000 700 000 700 000 1,000 000 1,375 000 1,375 000 ],375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 1,375 000 Maturity: Accumulated Bond Years 191.25 891.25 2,403.75 5,028.75 8,353.75 12,378.75 17,103.75 24,853.75 36,885.00 50,291.25 65,072.50 81,228.75 98,760.00 117,666.25 137,947.50 159,603.75 182,635.00 February I Average Maturitv - 10.51 Years ~'-',-'-:.' ~V.. :- ; Account Members and Participations $17,3~0M City of College Station, TX Utility Revs. UNDIVIDED SELLING: May 15, 1984 @ 7:00 PM Dean Witter Reynolds, Inc. Drexel Burnham Lambert, Inc. L. P. Rothschild, Unterberg, Towbin Thomson McKinnon Securities Inc. Eppler Guerin & Turner, Inc. Howare Well Labouisse Friedrichs, Inc. Westcap Securities Inc. ACI Master Sanford Coon Ward & Holland Stifel Nicolaus & Company, Inc. In Association With: Cowen & Company, Rowles, Winston Division A.G. Becket, Inc. Alex Brown & Sons Donaldson, Lufkin & Jenrette Securities Corp. 'E. F. Hutton & Company, Inc. M. E. Allison & Co., Inc. A. G. Edwards & Sons, Inc. Greet Moreland Fosdick Shepherd Inc. OFFICIAL BID FORN REVENUE BONDS Honorable Hayor 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 May 1, 1984 of $17,380,000 City of College Station, Texas Utility System Revenue Bonds, Series 1984, the terms and conditions of which "Official Notice of Sale" are made a part hereof. For your legally issued $17,380,000 of Bonds, as described in said "Official Notice of Sale," we will pay you~p~r and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ ~'-~"¢ D for Bonds maturing and bearing interest as follows: Interest Interest Matur~t~ Rate Maturity Rate Maturity 1985 f ~co , 1991 9.'o-v , 1997 1986 ~Se z 1992 ~.~v z 1998 1987 q ~-~O Z 1993 ¢7,5'- ~ 1999 1988 ~-0 ~ 1994 //~-0 ~ zooo 1989 7-~'O I 1995 l/ 3'0 1 2001 1990 ~ ~Z~ 1 1996 [/ ~0 I Interest Rate National Interest cost, in accordance with the above bid, is: ~ross Inter,st Co, t $ ~, ~'~f 7~' o~ Less Premium $ ,.~" ~O ~T iNTEREST COST $ ]~ 7~'~ d~/. i0 ~e Initial Bonds shall be registered tn ~he name of GOLDb~ SACHS ~ CO. (syndicate ~nager). ~e ~ill advise ~he First City National Bank of Houston, BousCon, Texas, the Paying Agent/Reg[strar~ our registration instructions at least five business days prior to the date set for Initial ~elivery. ~e ~[11 not ask the Paying Agent/Registrar Co accept any registration instructions after the five day period. Attached hereto or sufficed separately ts Bank Certified or Bank Cashier's Check of Bank, Austin , in the amoun~ of $347~600~ ~htch represents our Good Faith ~posir and which is submitted in accordance ~ith the ~e~s as set forth tn the "Official Notice of Sale." ~e have read in detail ~he "Official Notice of Sale" and the "Official Statement" and ~e have ~de such investigations as ~e deem necessary relating to the City and to the investment q~l[ty of the B~ds. Respe~,~ ~l ~ ;ubmx r ted, GOLDMAN, SACHS ~ CO~ (~ AS~CIATES) 85 Broad Street New York: New York 1000~ 00 385 the ACCEPTANCE CLAUSE The foregoing bid is hereby in all things accepted by the City of College Station, Texas this ~ day of , 1984. ATTEST: Secretary Mayor, City of College Station ACCUMULATED BOND Y~ARS $17,380,000 CITY OF COLLEGE STATION, TEXAS Utility System Revenue Bonds Series 1984 Dated: May 1, 1984 Year of Maturity 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Amount of Bonds 255,000 400,000 550,000 700,000 700,000 700,000 700,000 ,000,000 ,375,000 ,375,000 ,375,000 ,375,000 ,375,000 ,375,000 ,375,000 ,375,000 ,375,000 Maturity: Accumulated Bond Years 191.25 891.25 2,403.75 5,028.75 8,353.75 12,378.75 17,103.75 24,853.75 36,885.00 50,291.25 65,072.50 81,228.75 98,760.00 117,666.25 137,947.50 159,603.75 182,635.00 February 1 Average Maturity - 10.5l Years TABULATION OF BIDS Received May 15, 1984 on $8,630,000 CITY OF COLLEGE STATION, TEXAS (Brazos County) GENERAL OBLIGATION BONDS, SERIES 1984 AND $17,380,000 UTILITY SYSTEM REVENUE BONDS, SERIES 1984 Ratings: G.O.'s Revenues Moody's A-1 A-1 S&P's A+ AA- Bond Buyer Index: 10.19% GENERAL OBLIGATION BONDS Interest Bidder Mmturities Rate Interest Cost Effect ive Int. Rate Rotan Mosle, Inc., Mgr. 1985-1992 Kidder, Peabody & Co., 1993 Inc. 1994 Merrill Lynch Capital Mkts. 1995 Group 1996 RepublicBank Dallas, N.A. 1997 Shearson/American Express 1998 Inc. 1999 A.C.I., Inc. 2000 Eppler Guerin & Turner,Inc. 2001 First National Bank Boston 2002-2004 Securities Corp. of Iowa Stifel Nicolaus & Co., Inc. Cowen & Co. BancTexas Dallas, N.A. M.E. Allison & Co , Inc. Alex Brown & Sons, Inc. A.G. Edwards & Sons, Inc. Greer, Moreland, Fosdick & Shepherd, Inc. Masters, Sanford, Coon, Ward, Holland, Inc. Smith, Barney, Harris, Upham, Inc. IN ASSOCIATION WITH Dean Witter Reynolds, Inc. Drexel, Burnham, Lambert, Inc. L.F. Rothschild & Co., Inc. Thomson McKinnon Securities, Inc. Westcap Securities, Inc. Howard Weil Labouisse Friedrichs, Inc. 11.00% 10.60% 9.50% 9.65% 9.75% 9.90% 10.00% 10.10% 10.20% 10.30% 9 · 00% GIC - $9,098,075.00 Prem- -0- NIC - $9,098,075.00 9.897550% Rauscher Pierce Refsnes, 1985-1994 Inc., Mgr. 1995 Bear Stearns & Company 1996 Goldman, Sachs & Company 1997 Mercantile Bank, Dallas 1998-1999 Prudential/Bache Securities 2000 Inc. 2001 Underwood, Neuhaus & Co., 2002 Inc. 2003 Hutchinson, Shockey, Erley 2004 & Co. John Nuveen & Co., Inc. Schneider, Bernet & Hickman, Inc. Texas American Bank/Fort Worth IN ASSOCIATION WITH First City National Bank of Houston E.F. Hutton & Co., Inc. Allied Bank of Texas 10.50% 9.70% 9.80% 9.9O% 10.00% 10.10% 10.20% 10.30% 10.40% 8.50% NIC - $9,224,475.00 Prem- -0- NIC - $9,224,475.00 10.0350% G E N E R A L O B L I G A T I O N B O N D S - CONT'D Bidder Interest Maturities Rate Interest Cost Effective Int. Rate InterFirst Bank Dallas & Associates 1985-1990 11.001 1991 9.001 1992 9.20% 1993 9.401 1994 9.50% 1995 9.70% 1996 9.90% 1997 10.00% 1998 10.10% 1999 10.20% 2000 10.30% 2001-2004 10.40% GIC - $9,325,212.50 Prem- 68.30 NIC - $9,325,144.20 10.1445% REVENUE BONDS The First Boston Corp. 1985-1993 11.50% 1994 9.501 1995 9.75I 1996 10.00% 1997 10.25% 1998-2001 9.50% GIC- $18,337,243.75 Prem- 1,115.65 NIC- $18,336,128.10 10.0397% Rauscher Pierce Refsnes 1985-1992 Inc., Mgr. 1993 Underwood, Neuhaus & 1994 Co., Inc. 1995 Bear Stearns & Co. 1996 Blyth Eastman, Paine 1997 Webber, Inc. 1998 Kidder, Peabody & Co.,Inc. 1999-2001 Prudential/Bache Securities, Inc. Clayton Brown & Associates, Inc. Hutchinson, Shockey, Erley & Co. John Nuveen & Company Schneider Bernet & Hickman, Inc. Rotan Mosle, Inc. Merrill Lynch Capital Markets Shearson/American Express, Inc. First Southwest Company 11.50% 11.I01 9.60% 9.801 9.90% 10.00% 10.20% 9.501 GIC- $18,382,275.00 Prem- 1,422.85 NIC- $18,380,852.15 10.064255% Salomon Bros. & Assoc. 1985-1992 1993 1994 1995 1996-1997 1998 1999-2001 11.50% 11.10% 9.60% 9.80% 10.0O% 10.25% 9 · 50% GIC- $18,407,884.37 Prem- 1.15 NIC- $18,407,883.22 10.0790% Dean Witter Reynolds, Inc., Mgr. L.F. Rothschild Unterberg Towbin Thomson McKinnon Securities Inc. Howard Well Labouisse Friedrichs, Inc. Westcap Securities ,Inc. ACI 1985-1993 1994 1995 1996 1997 1998 1999-2001 Master Sanford Coon Ward & Holland Stifel Nicolaus & Co., Inc. Cowen & Company, Rowles, Winston Div. A.G. Becker, Inc. Alex Brown & Sons Donaldson Lufkin & Jenrette Securities Corp. M.E. Allison & Co., Inc. Greer Moreland Fosdick Shepherd 11.50% 9.701 9.90% 10.10% 10.20% 10.40% 9.60% GIC- $18,628,743.75 Prem - 1,855, O0 NIC- $18,626,888.75 10. 198969% Goldman Sachs & Co., 1985-1992 9.50% Mgr. 1993 9.75% & Associates 1994-1997 11.50% 1998 10.25% 1999-2001 9.50% GIC- $18,759,700.00 Prem - 58.90 NIC- $18,759,641.10 10.271657% O0 .3B"f