HomeMy WebLinkAbout2000 09 25 Consent G Resolution 2000-35 Preliminary Official Statement for Issuance
COMMISSION AGENDA
ITEM G
CONSENT X
INFORMATIONAL
PUBLIC HEARING
REGULAR
9-25-00
Meeting
(lr-'
MGR. /DEPT
Authorization
REQUEST: City Manager requesting the City Commission to approve
Resolution 2000-35 authorizing the City Manager to deem final the Preliminary
Official Statement for Issuance of approximately 7 million dollars worth of Water and
Sewer Refunding Revenue Bonds Series 2000.
PURPOSE: The purpose of this agenda item is to allow marketing of the
refunding bonds that provide for refunding of the existing ten year note, and approximately
4 million dollars in new construction.
CONSIDERATION:
Approximately 4 million dollars is needed for Town Center and other water and sewer
improvements.
This bond issue will provide new construction funds, and refinance the 1997 ten-year note
of $3,025,000.
FUNDING: Cost of the bonds are paid from utility revenues. This action will result in a
reduction of current debt service from approximately $2,100,00 to $1,900,000 annually.
RECOMMENDATION:
It is recommended that the Commission approve Resolution # 2000-35 authorizing the City
Manager to deem final the Preliminary Official Statement for Issuance of approximately $7
million dollars in Water and Sewer Refunding Revenue Bonds Series 2000
ATTACHMENTS: Resolution #2000-35
COMMISSION ACTION:
U:\Docs\Word\AGENDA \September2000\Uti\ity Bonds.doc
RESOLUTION NO. _2Q.oO-35
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA
AUTHORIZING THE CITY MANAGER OR FINANCE DIRECTOR TO
DEEM FINAL THE PRELIMINARY OFFICIAL STATEMENT FOR THE
CITY'S WATER AND SEWER REFUNDING REVENUE BONDS, SERIES
2000; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Winter Springs, Florida (the "City") has the need to construct
various improvements to its water and sewer system and has been advised by its financial
advisor as to the benefits of refunding its Subordinate Water and Sewer Revenue Bonds, Series
1997; and
WHEREAS, the City is considering the issuance of its Water and Sewer Refunding
Revenue Bonds, Series 2000 (the "Bonds") to accomplish such purposes; and
WHEREAS, to further the issuance of the Bonds there is being prepared a Preliminary
Official Statement, the current fom1 of which is attached hereto.
NOW, THEREFORE, BE IT RESOLVED, by the City Commission of the City of Winter
Springs, Florida as follows:
1. SECTION The Issuer is hereby authorized to distribute a preliminary official
statement for the Bonds. Prior to such distribution, the Finance Director or City Manager is
hereby authorized to deem such preliminary official statement relating to the Bonds "final"
within the meaning of Rule 15c2-12 of the Securities and Exchange Commission except for
certain "permitted omissions" as defined therein.
2. SECTION All prior resolutions of the Issuer inconsistent with the provisions of
this Resolution are hereby modified, supplemented and amended to conform with the provisions
herein contained and, except as so modified, supplemented and amended hereby, shall remain in
full force and effect.
3. SECTION EFFECTIVE DATE. This resolution shall take effect immediately
upon approval by the Issuer.
0R319589;1
PASSED AND ADOPTED by the City Commission, at a duly called meeting at which a
quorum was present on September 11, 2000.
(SEAL)
ATTEST:
City Clerk
0R319589;1
CITY OF WINTER SPRINGS, FLORIDA
Mayor
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RESOLUTION NO. 2000-35
A RESOLUTION OF THE CITY OF WINTER SPRlNGS, FLORIDA
AUTHORlZING THE CITY MANAGER OR FINANCE DIRECTOR TO DEEM
FINAL THE PRELIMINARY OFFICIAL STATEMENT FOR THE CITY'S
WATER AND SEWER REFUNDING REVENUE BONDS, SERlES 2000; AND
PROVIDING AN EFFECTNE DATE.
WHEREAS, the City of Winter Springs, Florida (the "City') has the need to construct various
improvements to its water and sewer system and has been advised by its financial advisor as to the
benefits of refunding its Subordinate Water and Sewer Revenue Bonds, Series 1997; and
WHEREAS, the City is considering the issuance of its Water and Sewer Refunding Revenue
Bonds, Series 2000 (the "Bonds") to accomplish such purposes; and
WHEREAS, to further the issuance of the Bonds there is being prepared a Preliminary
Official Statement, the current fonn of which is attached hereto.
NOW, THEREFORE, BE IT RESOLVED, by the City Commission of the City of Winter
Springs, Florida as follows:
SECTION 1. The Issuer is hereby authorized to distribute a preliminary official
statement for the Bonds. Prior to such distribution, the Finance Director or City Manager is hereby
authorized to deem such preliminary official statement relating to the Bonds "final" within the
meaning of Rule I5c2-I2 of the Securities and Exchange Commission except for certain "permitted
omissions" as defined therein.
SECTION 2. All prior resolutions of the Issuer inconsistent with the provisions of
this Resolution are hereby modified, supplemented and amended to conform with the provisions
herein contained and, except as so modified, supplemented and amended hereby, shall remain in full
force and effect.
ORJ19589; I
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SECTION 3. EFFECTIVE DATE. This resolution shall take effect immediately
upon approval by the Issuer.
PASSED AND ADOPTED by the City Commission, at a duly called meeting at which a
quorum was present on September 25, 2000.
(SEAL)
CITY OF WINTER SPRINGS, FLORIDA
'.t\r,TEST:
eLL
CityL1erk
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OR319S89; I
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AKERMAN SENTERFITT
ATTORNEYS AT LAW
CITRUS CENTER
255 SOUTH. ORANGE AVENUE
POST OFFICE Box 23 I
ORLANDO, FLORIDA 32802 - 023\
PHONE (407) 843-7860. FAX (407) 843-66\0
http://www.akerman.com.
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October 12, 2000
Andrea Lorenzo-Luaces
City of Winter Springs
1126 East State Road 434
Longwood, FL 32708
Re: City of Winter Springs, Florida
Water and Sewer Refunding Revenue Bonds, Series 2000
Dear Ms. Lorenzo-Luaces:
In connection with the referenced financing, please find enclosed the Public Meetings
Certificate. At the next City Commission meeting or workshop please have this document signed
by the Commissioners and return to me. Should you have any questions, please do not hesitate to
call.
Sincerely,
~. Williams
MDW/reg
Enclosure
OR330045;1
AKERMAN, SENTERFITT & EIDSON, P.A.
FORT LAUDERDALE . JACKSONVILLE MIAMI TALLAHASSEE TAMPA
WEST PALM BEACH
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CITY OF WINTER SPRINGS, FLORIDA
1126 EAST STATE ROAD 434
WINTER SPRINGS, FLORIDA 32708-2799
Telephone (407) 327-1800
November 3, 2000
Mr. Michael D. Williams
Akerman Senterfitt
Post Office Box 231
Orlando, Florida 32802-0231
Dear Mr. Williams:
Please find attached the following document that you requested be signed by Members of
the City of Winter Springs City Commission:
. "Certificate As To Public Meetings And Of No Conflict oflnterest"
Please feel free to contact me should you have any questions or concerns.
Sincerely,
~ r::wmTER SPRmGS
~drea Lore
City Clerk
Attachment
DOCS/correspo/citycler/O 177 .doc
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No. 16
CERTIFICATE AS TO PUBLIC MEETINGS
AND OF NO CONFLICT OF INTEREST
Each of the undersigned members of the City Commission of the City of Winter Springs,
Florida (the "City"), recognizing that the purchasers of the City's $6,969,191.35 Water and Sewer
Refunding Revenue Bonds, Series 2000 (the "Bonds"), will have purchased said Bonds in reliance
upon this Certificate, HEREBY CERTIFIES that:
1. He or she has not, together with any other member or members of the City
Commission, other than at public meetings of the City Commission, reached any
conclusion as to the actions taken by the City Commission with regard to the Bonds,
the security therefor or the application of the proceeds therefrom, or any other
material matters in regard to the Bonds; and
2. He or she does not have or hold any employment or contractual relationship with any
business entity which is purchasing, directly or through an intennediary, any of the
Bonds, except any such relationship as has been disclosed in accordance with
applicable Florida law.
IN WITNESS WHEREOF, we have hereunto set our hands as of this 12th day of October,
2000.
CITY COMMISSION CITY OF WINTER SPRINGS,
FLORIDA
ORJ26945; I
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AKERMAN SENTERFITT
ATIORNEYS AT LAW
CiTRUS CENTER
155 SOUTH. ORANGE AVENUE
POST OFFICE Box 13 I
ORLANDO, FLORIDA 31801- 013 I
PHONE (407) 843.7860. FAX (407) 843-6610
http://www.akerman.com
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October 12, 2000
Andrea Lorenzo-Luaces
City of Winter Springs
1126 East State Road 434
Longwood, FL 32708
Re: City of Winter Springs, Florida
Water and Sewer Refunding Revenue Bonds, Series 2000
Dear Ms. Lorenzo-Luaces:
In connection with the referenced financing, please find enclosed the Public Meetings
Certificate. At the next City Commission meeting or workshop please have this document signed
by the Commissioners and return to me. Should you have any questions, please do not hesitate to
call.
Sincerely,
~. Williams
MDW/reg
Enclosure
OR330045;1
AKERMAN, SENTERFITI & EIDSON, P.A.
FORT LAUDERDALE . JACKSONVILLE MIAMI TALLAHASSEE TAMPA
WEST PALM BEACH