HomeMy WebLinkAbout1991 04 29 City Commission Special Minutes
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SPECIAL MEETING
CITY COMMISSION
CITY OF WINTER SPRINGS
APRIL 29, 1991
The Special Meeting of the City Commission of the City of Winter Springs, Florida,
was called to order by Mayor Philip A. Kulbes at 7:40 p. m.
Present:
Mayor Philip A. Kulbes
Deputy Mayor Paul P. Partyka
City Manager Richard Rozansky
City Attorney Tom Lang
Commissioners:
Cindy Kaehler
Don Jonas
John Langellotti
Terri Donnelly
City of Winter Springs, Florida, Water and Sewer Refunding Revenue Bonds Series 1991:
Approval of Sale of Bonds:
Gary Akers, Southeastern Capital Group was present and also Mike Stewart representing
Jim Lentz of Fray Municipal Securities, Inc. was present. Commissioner Partyka read
the letter from Mr. Lentz and it is attached to the minutes. Mr. Lentz recommended
the sale of $6,915,000 Water and Sewer Refunding Revenue Bonds, Series 1991
("Series 1991") to Southeastern Capital Group ("SCG").
Also present was Attorney Mike Williams who prepared the documents for this issue.
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Attorney Lang read Resolution No. 665, authorizing the issuance of not exceeding
$7,100,000 Water and Sewer Refunding Revenue Bonds, Series 1991, of the City of
Winter Springs, Florida to be applied to refund the City's presently outstanding
Water and Sewer Refunding Revenue Bonds, Series 1985 and to construct and acquire
certain additions, extensions and improvements to the water and sewer system of
the City; pledging the net revenues of the water and sewer system of the City for the
payment of said bonds; making other covenants and agreements in connection therewith;
and providing an effective date, by title only.
Motion was made by Commissioner Partyka to approve Resolution No. 665. Seconded by
Commissioner Langellotti. Discussion. Vote on the motion: Commissioner Kaehler, aye;
Commissioner Jonas, aye; Commissioner Langellotti, aye; Commissioner Donnelly, aye;
Commissioner Partyka, aye; motion carried.
Attorney Lang read Resolution No. 666, providing for the early redemption of certain of
the outstanding City of Winter Springs, Florida, Water and Sewer Refunding Revenue
Bonds, Series 1985; providing for publication of the Notice of Redemption; providing
for certain other matters in connection therewith; and providing an effective date,
by title only.
Motion was made by Commissioner Partyka to approve Resolution No. 666. Seconded by
Commissioner Kaehler. Discussion. Vote on the motion: Commissioner Jonas, aye;
Commissioner Langellotti, aye; Commissioner Donnelly, aye; Commissioner Partyka,
aye; Commissioner Kaehler, aye; motion carried.
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Attorney Lang read Resolution No. 667, authorizing the negotiated sale of $6,915,000
City of Winter Springs, Florida, Water and Sewer Refunding Revenue Bonds, Series 1991;
Awarding the sale thereof to Southeastern Capital Group, Inc. subject to the terms and
conditions of a purchase contract; authorizing the distribution of a preliminary Official
Statement and an Official Statement in connection with the delivery of the bonds;
appointing a registrar and paying agent; authorizing the purchase of bond insurance
to be issued by Municipal Bond Investors Assurance Corporation; authorizing the
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Special Meeting, City Commission, April 29, 1991
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funding of the reserve account by purchase of a surety bond and authorizing execution
of a financial guaranty agreement in connection therewith; defining the bond year;
and providing an effective date, by title only.
Motion was made by Commissioner Partyka to approve Resolution No. 667. Seconded by
Commissioner Langellotti. Discussion. Vote on the motion: Commissioner Langellotti,
aye; Commissioner Donnelly, aye; Commissioner Partyka, aye; Commissioner Kaehler, aye;
Commissioner Jonas, aye; motion carried.
City Manager Rozansky thanked Mr. Gary Akers and Mr. Lentz-for the great job they did.
Mayor Kulbes adjourned the Special Meeting at 7:55 p. m.
Respectfully submitted,
~T~
Mary T. Norton,
City Clerk