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