HomeMy WebLinkAbout1989 05 01 City Commission Special Minutes
.
.
.
88-89-17
SPECIAL MEETING
CITY COMMISSION
CITY OF WINTER SPRINGS
MAY 1, 1989
The Special Meeting of the City Commission of the City of Winter Springs, Florida,
was called to order by Mayor Leanne M. Grove at 7:00 p. m.
Roll Call:
Mayor Leanne M. Grove, present
Deputy Mayor Philip A. Kulbes, present
City Manager Richard Rozansky, present
City Attorney and Financial Advisor,
Tom Lang, present
City Attorney Mike Williams, present
Commissioners:
Cindy Kaehler, present
Arthur Hoffmann, present
William A. Jacobs, absent
Paul P. Partyka, present
Resolution No. 615, authorizing the issuance of not exceeding $9,000,000 Improvement
Refunding Revenue Bonds, Series 1989, of the City of Winter Springs, Florida, to be
applied to refund certain presently outstanding obligations of the City and to
construct and acquire a civic recreational complex and necessary off-site improve-
ments and a fire station; pledging excise taxes levied by the City for the payment
of said bonds; making other covenants and agreements in connection therewith; and
providing an effective date.
Attorney Tom Lang read Resolution No.615 by title only. Mr. Gary Akers, Southeastern
Municipal Bonds, explained this resolution authorizes the issuance of $9,000,000
improvement refunding revenue Bonds. The resolution provides for security to the
bond holders from the public service taxes and electric franchise fees. The bonds are
to be insured by American Municipal Bond Assurance Corporation.
Motion was made by Commissioner Kaehler to adopt Resolution No. 615. Seconded by
Commissioner Kulbes. Discussion. Vote on the motion: Commissioner Kaehler, aye;
Commissioner Hoffmann, aye; Commissioner Kulbes, aye; Commissioner Partyka, aye;
motion carried.
Resolution No. 616, authorizing the negotiated sale of $9,000,000 City of Winter
Springs, Florida Improvement Refunding Revenue Bonds, Series 1989; awarding the sale
thereof to Southeastern Municipal Bonds, Inc. subject to the terms and conditions of a
Purchase Contract; authorizing the distribution of a prelinminary official statement and
an official statement in connection with the delivery of the bonds; appointing a
registrar, paying agent and escrow holder; authorizing the purchase of bond insurance
to be issued by AMBAC Indemnity Corporation; providing for a deposit to the reserve
account; providing for the transfer of certain monies held for the benefit of the
refunded bonds; authorizing the early call of the refunded bonds and providing an
effective date.
Attorney Lang read Resolution No. 616 by title only. Mr. Akers distributed and discussed
his hand-out entitled $9,000,000 Winter Springs, Florida Improvement Refunding Revenue
Bonds, Series 1989 - Terms of Bonds.
Motion was made by Commissioner Partyka to adopt Resolution No. 616. Seconded by
Commissioner Kulbes. Discussion. Vote on the motion: Commissioner Hoffmann, aye;
Commissioner Kulbes, aye; Commissioner Partyka, aye; Commissioner Kaehler, aye; motion
carried.
.
.
.
Special Meeting, City Commission, May 1, 1989
Page 2
88-89-17
Mr. Akers presented the City with a $90,000 "good faith" check as evidence of their
good faith to close on the issue and deliver the funds at closing which is set for
May 25, 1989.
Meeting was adjourned at 7:25 p.m.
Respectfully submitted,
~J.~
Mary T. Norton,
City Clerk
Approved:
YOR
7h.