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HomeMy WebLinkAboutOrdinance - 9803-1995 - This Is With 9805. - 04/27/1995(jpe/L ~'21 /?fS trlt1Jf II I 111S Documents from Fulbright and Jaworski are filed with Ordinance No. 9803. This is for Ordinance No. 9803, Ordinance No. 9804, and Ordinance No. 9805. TELEPHONE: 214/655•6000 P'"ACSIMILE: 214/855•$200 MARK S WESTERGARD PARTNER DIRECT DIAL: 214/855-8002 FULBRIGHT & JAWORSKI L.L.P. A REGISTERED LIMITED LIABILITY PARTNERSHIP 22oo Ross AvENUE SUITE 2600 DALLAS, TEXAS 75201 June 6, 1995 VIA FEDERAL EXPRESS Ms. Betty Johnson City of Lubbock 1625 18th Street Lubbock, Texas 79401 HOUSTON WASHINGTON, D.C. AUSTIN SAN ANTONIO DALLAS NEW YORK LOS ANGELES LONDON HONG KONG RE: $4~690~000 •City of Lubbock, Te.ms, General Obligation Bonds, Series 1995" and 12~000,000 •City of Lubbock~ Te.ms, 7b% and Hotel Occupancy Tm: Surplus Reuenue Certificates of Obligatio~ Series 1995" and $900~000 •City of Lubbock, Texas~ 7b% and m~nBurplus~~m~ofOb~atio~B~1995" Dear Betty: Enclosed please find five (6) copies of the Certificate of City Secretary relating to the resolution authorizing publication of notice of intention to issue the certificates of obligation. Please complete, sign, and seal each copy where indicated. Please forward one fully executed original via federal express to: Ms. Lynn Stuck Office of the Attorney General of Texas William P. Clements Bldg. 800 W. 15th Street, lOth Floor Austin, Texas 78701 for her receipt on Wednesday, June 7, 1995. me. The remaining originals should be returned to Please call if you have any questions. tt}: ? ~ ,./ Very truly yours, \.Q MSW:da Enclosures 022'1291 4~ Mark S. Westergard RECEIVED \ JUN 06 1995 CITV SECRETARY lUi!OCK. TEXAs ~ l -! 1 ';j ~ No Text Honorable Mayor and City Council City of Lubbock, Texas Members of the City Council: OmCIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated Apri120, 1995, of $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERT1F1CATES OF OBLIGATION; SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding Instructions and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ -c!5 -for Certificates maturing and bearing interest as follows: Maturity 2-15-1996 2-15-1997 2-15-1998 2-15-1999 2-15-2000 2-15-2001 Principal Interest AmOUnt Rate S265,ooo£~1J'; 310,ooo~rll£% 330,000 <¥,9J"% 345,000 ~.r?% 365 000 ~ t;""?';, ' --- 385,000 /f, 7J~ Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Loss Premium NET INTEREST COST EFFECTIVE INTEREST RATE -o- $ .33 ~~ c:l/6 ,.J-6 -¥. J1 z .),fll ;(, % We are having the Certificates of the following maturities insured by at a premium of S:..-...~=-=--.,.,--::~--· said premium to be paid by the Purcliaser. Any fees to be paid to the rating agencies as a resuh of said insurance will be paid by the City. The Initial Certificate shall be registered in the name of Na t1 on sBanc Ca pttail . Markets., Jill a • We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date. set for ,Initial Delivery. A bank cashier's check or certified check of the The Frost Nati ona 1 Bank Bank, Austin, Texas , in the amount of $40,000.00, which represents our Good Faith Deposit OOC~XW~K>) or (bas been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Officisl Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Boot-Entry-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minnesota, National Associstion, Minneaplis, Minnesota, not later than 10:00 AM, COT, on June 15, 1995, or thereafter on the date the Certificates are tendered for delivery, punruant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price" of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the initial reofl'ering prices and other terms, if any, to the F"mancial Advisor hy the dose of the next business day after the award. Respectfully submitted, NationsBanc Capital Markets. Inc. By fuWltJ;~t ~<WWY Au rizod resentative Cheryl Y. Barnes, Investment Officer ACCEPI' ANCE CLAUSE The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock, Texas Members of the City Council: OmCIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding lmtructions, dated April 20, 1995, of $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding lmtructions and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ 0 for Certificates maturing and bearing interest as follows: Principal Interest Maturi!l: Amount Rate 2-15-1996 $265,000 ~% 2-lS-1997 310,000 ~'X> 2-15-1998 330,000 'fJO % 2-15-1999 345,000 "fCrO 'X> 2-15-2000 365,000 "'10 __ % 2-15-2001 385,000 ~% Our calculation (which is not a part of this bid) of the interest cost from the above ia: s SolP ;~11. So 0 Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE $ .3.'3(0 I Z JJ• ~O "1-.eeo~ % We are having the Certificates of the following maturities----------:~-~-~~--=-=--:~=--=-insured by at a premium of$'----=-:~~--=~--· said vremium to be paid by the Purchaser. Any fees to be paid to the rating agencies as a result of said insurance will be Paid by the City. The Initial Certificate shall be registered in the name of Dean Witter Reyno 1 ds, Inc • . We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. . . Nati onsbank Da 11 as . A bank cashier's check or certified check of the Bank, , m the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as aet forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minnesota, National Association, Minneaplis, Minnesota, not later than 10:00 AM, CDT, on June IS, 1995, or theresfter on the date the Certificates are tendered for delivery, pursuant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price• of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the initial reoffering prices and other terms, if any. to the Fmancial Advisor by the close of the next business day after the award. Jtespectfully submitted, Dean Witter Reynolds, Inc. Stephen J. Young Senior Vice President ACCEPTANCE CLAUSE The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock, Texas Memben of the City Council: OFFICIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated April 20, 1995, of $2,000,000CrrY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in Aid Notice of Sale and Bidding Instructions and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of$ I =;e,.-. 'LO for Certificates maturing and bearing interest as follows: Principal Interest MaturiD: Amount Rate 2-IS-1996 $26.5,000 c,p.S"oli 2-15-1997 :310,000 c.,.,Sb~ 2-15-1998 :3:30,000 t>-. 2.5""% 2-15-1999 :345,000 '·t.~oli 2-15-2000 :365,000 '!.~ 2-lS-2001 :385,000 ~~ Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE We are having the Certificates of the following maturities JC/'. .VC: insu.red by at a premium of$'---:--:-:---:::--=--' said premium to be paid bv the Purchaser. Any fees to be paid to the rating agencies as a result of Aid insurance will be paid by the City. The Initial Certificate shall be registered in the name of Southwest Securities • Inc. . We will advise The Depository Trust Company ("DTCj of registration instructions at least five business days prior to the date set for Initial Delivery. A bank cashier's check or certified check of the Frost Bank, , in the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minnesota, National Association, Minnesplis, Minnesota, not later than 10:00 AM, CDT, on June IS, 1995, or thereafter on the date the Certificates are tendered for delivery, pUfiiU8nt to the terms set furth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price" of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the initial reofl'ering prices and other terms, if any, to the FllllUldal Advisor by the dose of the Dext business day after the award. Respectfully submitted, ACCEPTANCE CLAUSE The above and fOregoing bid is hereby in all things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock, Texas Members of the City Council: OFDCIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated April20, 1995, of$2,000,000CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding Instructions and Official Statement, we will pay you par and accrued interest frum date of issue to date of deliveey to us, plus a cash premium of $ ..., fP -for Certificates maturing and bearing interest as follows: Principal Interest Maturi~ Amount Rate 2-15-1996 $265,000 t;l.fd~ 2-15-1997 310,000 l.J'O~ 2-15-1998 330,000 ~Jo~ 2-15-1999 345,000 4,J7:> ~ 2-15-2000 365,000 lj,J?J ~ 2-15-2001 385,000 ~fd~ Our calculation (which is not a part of this bid) of the interest cost frum the above is: Total Interest Cost $ Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE We are having the Certificates of the following maturitiea ---------,-:----:----=--""=""=--.,.,...-=---=-insured by at a premium of$~....,.,,..,------,~--· said premium to be paid by the Purdmser. Any fees to be paid to the rating agencies as a result of said insurance will be paid by the City. The Initial Certificate shall be registered in the name of Cec'ie & Co. . We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Deliveey. A bank cashier's check or certified check of the Nations Bank, Dallas' Texas , in the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terma as set forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept deliveey of the Certificates utilizing the Bnok-Entey-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporste Trust Division, Norwest Bank Minnesota, National Association, Minneaplis, Minnesota, not lster than 10:00 AM, CDT, on June IS, 1995, or thereafter on the date the Certificates are tendered for deliveey, pursuant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to deliveey of the Certificates, a certificate relating to the "issue price• of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as msy be acceptable to the City. We agree to pro'ride in writiug the initinl reoffering prices and other terms, if any, to the FiDanciaJ Advisor by the dose of the next business day after the award. Respectfully submitted, PaineWebber, Inc. Legg Mason Wood Walker, Inc. Ba'l:lSChe£ Piexce Flefsnes, !Be. Smith Ban1ey, Inc. ACCEPI'ANCE CLAUSE Bycd.~kr& Lewis W • ~ttr~ ~f'llntative Vice President The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, BUbject to and in accordance with the Notice of Sale and Bidding Instructions, this die 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas omciAL mn FORM Honorable Mayor and City Council City of Lubbock, Texas Members of the City Council: May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated April 20, 1995, of $2,000,000 Cfi'Y OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBUOATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding lnattuctiona and Official Statement, we wilt pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ '{. Z. 0 for Certificates maturing and bearing interest as follows: Principal Interest Maturitt Amount Rate 2-15-1996 $265,000 "·::;,-(4 2-15-1997 310,000 b.~~ 2-15-1998 330,000 l.l.Sei 2-15-1999 345,000 'i .:"los l-15-2000 365,000 ~$ 2-15-2001 385,000 't·~~ Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE s 3.SS s-t./~-· o c) J c./ • 'Z,.O s ; ,?, CZ • :;,-c..J o. 1fv ll.~ Z.'J(CZ3 s We are having the Certificates of the following maturities ~¥c?' insured by at a premium of$,_,_,~......,=--=--' said premium to be paid by the Purchaser. Any fees to be paid to the rating agencies as a reault of said insurance will be paid by the City. The Initial Certificateshallberegisteredin the name of PRINCIPAL FINANCIAL SECURtTfES . WewiltadviseTheDepositoryTrust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. _.,.._ A bank cashier's check or certified check of the Frost National Bank, ~ /)( , in the amount of $40,000.00, which representa our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding lnattuctions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minnesota, National Association, Minneaplia, Minnesota, not later than 10:00 AM, CDT, on June 15, 1995, or thereafter on the date the Certificates are tendered for delivery, pursuant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price• of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the iaitial reoffering prices and other terms, il any, to the Ymancial Advisor by the dose of the next business day after the award. Respectfully submitted, ACCEPTANCE CLAUSE PRINCfPAL FINANCIAL SECURtTIES sally Richatds BY------~~~~~--~V~ic~eLP~r~~i=de~m~ Authorized Representative The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale and Bidding lnattuctions, this the lith day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock, Texas Membem of the City Council: OFFICIAL BID FORM May 11, 199S Reference is made to your Official Statement and Notice of Sale and Bidding lnstructions, dated April20, 199S, of$2,000,000 CrrY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBUOATION, SBRIBS 199S, both of which constitute a part hereof. For your legally issued Certificates, as described in aaid Notice of Sale and Bidding lnstructions and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of S -t!J -fur Certificates maturing and bearing interest as follows: Maturity 2-IS-1996 2-15-1997 2-15-1998 2-IS-1999 2-15-2000 2-15-2001 Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NEI' INTEREST COST EFFECTIVE INTEREST RATE We are having the Certificates of the following maturities---------:-;;---:---:--:--~::---::--=--::-insured by at a premium of $,__--="':-7"--:-:--:~--· said premium to be paid by the Purchaser. Any fees to be paid to the rating agencies as a result of aaid insurance will be paid by the City. The Initial Certificate shall be registered in the name of . We will advise The Depository Trust Company ("DTC") of registl'lltion instructions at least five busiriess days prior to the date set for Initial Delivery. A bank cashier's check or certified check of the Frost National Bank, Austin, Texas , in the amount of $40,000.00, which representa our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding lnstructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make payment fur the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minoesota, National Association, Minneaplis, Minnesota, not later than 10:00 AM, CDT, on June IS, 199S, or thereafter on the date the Certificates are tendered for delivery, pursuant to the terms set rorth in the Notice of Sale and Bidding Instructions. The undemigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price" of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the initial reoffering prices and other terms, if any, to the Financial Advmor by the dose or the next business day after the award. Respectfully submitted, Fidelity Capital Markets William Haracz ACCEPI' ANCE CLAUSE The above and furegoing bid is hereby in all things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 199S. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of I.J.Jbbock, Texas Members of the City Council: OFFICIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated AprillO, 1995, of $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBUGATION, SER.IES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding lnstructio,!!!..!lnd Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ -C for Certificates maturing and bearing interest as follows: Principal Interest Maturi~ Amount Rate 2-15-1996 $265 000~ I ?S,; . --- 2-15-1997 310,000 ~I 7..1'% 2-IS-1998 330,000 .1!{, '7 7; 2-15-1999 345,000 47-:t;, 2-IS-2000 365,000 '-A 7?;, 2-15-2001 385,000 ¥,7:?; Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE 1NTER.EST RATE $ 3£/i?, /IJt:Jt#' ~t? «~r /" We are having the Certificates of the following maturities--------:-:---:---:--;---:-:--:--:;:---:=-;-insured by at a premium of$ , said premium to be paid by the Pun:haser. Any fees to be paid to the rating agencies as a result of said insurance will b"""e-p-m-=-· d~by--:;the:--City=· -.-- Thelnitia!Certificateshallberegisteredinthenameotierrill Lynch, Pierce' Fenner & .~ftlad~eDepositoryTrust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. A bank cashier's check or certified check of the Frost Bank, Austin • Tx • , in the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terma as set forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make payment for the Initial Certificate in immediately available funds in the Corporate Trust Division, Norwest Bank Minnesota, National Association, Minneaplis, Minnesota, not later than 10:00 AM, CDT, on June IS, 1995, or thereafter on the date the Certificates are tendered for 4elivery, pursuant to the terma set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price • of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing the initial reoffering prices and other terms, if uy, to the FmaDCial Advisor by the close of the next business day alter the award. Respectfully submitted, Merrill Lynch & Co. (See Attached List of Members) ACCEPTANCE CLAUSE The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, IIUbject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock:, Texas Members of the City Council: OFFICIAL BID FORM May 11, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding lmtructions, dated Apri120, 1995, of $2,000,000CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFlCATES OF OBUOATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding ~ons and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ -€/-for Certificates maturing and bearing interest as follows: Principal Interest Maturitt Amount Rate 2-lS-1996 $265,000 4 . .J~, 2-15-1997 310 ooo t', ro , . --- 2-15-1998 330,000 tt, ./8, 2-15-1999 345,000 ~9tJ, 2-15-2000 365,000 ~..JZI, 2-15-2001 385,000 ¥...1'[), Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE s ..?~1 ::lt:J?t!JrOfJ £1!/...r 37, We are having the Certificates of the following maturities--------..,.-:---:--..,---:--,..,..,~~-=-""" insured by at a premium ofS:.........,.,,...,...-,.--,:::---' said premium to be paid by tbe Purchaser. Any fees to be paid to the rating agencies as a result of said insurance will be paid by tbe Citv. The Initial Certificate shall be registered in the name of . We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. A bank. cashier's check: or certified check of the Bank, , in the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and make pa:Yment for the Initial Certificate in immediately available funds in the Coeporate Trust Division, Norwest Bsnt: Minnesota, National Association, Minneaplis, Minnesota, not later than 10:00 AM, CDT, on June 15, 1995, or thereafter on the date the Certificates are tendered for delivery, pursuant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to delivery of the Certificates, a certificate relating to the "issue price" of the Certificates 'in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. We agree to provide in writing tbe initial reoffering prices and other terms, if any, to tbe Financial Advisor by the close of the next business day after the award. Respectfully submitted, GRIFFIN, KUBIK; 3TEPHENS & THOM~SON, INC. By ~C~., 'Authorized Represe~ ACCEPI' ANCE CLAUSE The above and foregoing bid is hereby in all things accepted by the City of Lubbock:, Texas, subject to and in accordance with the Notice of Sale and Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas Honorable Mayor and City Council City of Lubbock, Texas Members of the City Council: OFfiCIAL BID FORM May 11, 1995 Reference is made to your Official Statementand Notice of Sale and Bidding Instructions, dated April 20, 1995, of $2,000,000 CrrY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding Instructions and Official Statement, we wiU pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of S -0 -for Certificates maturing and bearing interest as follows: Principal Jnterest Maturi!I Amount Rate 2-15-1996 $265,000 S.SO% 2-1.5-1997 310,000 s.oo,; 2-15-1998 330,000 5.00% 2-15-1999 345,000 qr,~ 2-15-2000 365,000 q.,c;-,; 2-15-2001 385,000 Y.::2Q% Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE -c- We are having the Certificates of the following maturities ____ .;..AJ_;.;._;<::J;;__N_;.,..,...S;___,,--~~-~~-,.,--,~~ insured by at a premium of$. _ __,.,...,..---,,-=--' said premium to be paid by the Purcbaser. Any fees to be paid to the rating agencies as a result of said insurance will be paid by the City. The Initial Certificate shall be registered in the name of dtJ .:SG C . We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. A bank cashier's check or certified check of the Bank, , in the amount of $40,000.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Book-Entry-Only System through DTC and mate payment for the Initial Certificate in immediately available funds in the CoipOrate Trust Division, Norwest Bank Minnesota, National Association, Minneaplis, Minnesota, not later than 10:00 AM, CDT, on June 15, 1995, or thereafter on the date the Certificates are tendered for delivery, pursuant to the terma set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least six busineBS days prior to delivery of the Certificates, a certificate relating to the "issue price" of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. ·We agree to provide in writing the initial reofl'ering prices and other terms, if any, to the Ymancial Advisor by the dose of the BeEt business day after the award. Respectfully submitted, ACCEPTANCE CLAUSE Tbe above and foregoing bid is hereby in aU things accepted by the City of Lubbock, Texas, subject to and in accordance with the Notice of Sale 1nd Bidding Instructions, this the 11th day of May, 1995. ATTEST: Mayor City of Lubbock, Texas JoeW. Smith Director Ms. Joyce McElroy First Southwest Company 1700 Pacific Avenue, Suite 500 Dallas, Texas 75201 1 FIRST SOUTIIWFST COMPANY June 6, 1995 RE: $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 1995 Dear Joyce: This will confirm our telephone conversation when I advised that subject Certificates will be ready for delivery to your account on June 15, 1995. Payment, as set forth in the Notice, is to be made by 10:00 AM, CDT, in immediately available funds, wired to Norwest Bank Minnesota, N.A., ABA #091000019, Trust Clearing Account: #10·38-377, Attention: Paula Hecht, Account #13148300 for the account of the City of Lubbock, Texas. Our calculation of payment figures is shown on the attached. Would you please indicate on the enclosed duplicate of this letter, returning it to us, if our figures are in agreement. By copy of this Jetter we are advising the City that, upon receipt of funds, the Good Faith Deposit should be properly endorsed to your finn and returned (Federal Express) to your attention. cc via fax: Mr. Mark Hindman Ms. Betsy Wood Ms. Betty M. Johnson Mr. Jimmy Rodriguez City of Lubbock, Texas Ms. Nancy S. Sampair Norwest Bank, Minnesota, N.A. Minneapolis, Minnesota Mr. Mark S. Westergard Fulbright & Jaworski L.L.P. DalJas, Texas OUR FIGURES ARE IN AGREEMENT FIRST SOUTHWEST COMPANY BY: ....................................................... ....... INVESTMENT BANKERS 402 Cypress Street, Suite 103 • Abilene, Texas 796m • 915-672-8432 • FAX 915-675-6218 cc via mail: Mr. Terry Burke Mr. Dick Long Mr. Jeff Walter First Southwest Company, Dallas PRINCIPAL AMOUNT PLUS PREMIUM s 2,000,000.00 21.25 s 2,000,021.25 PLUS ACCRUED INTEREST (TO 6-15-95) 8.522.08 NET AMOUNT DUE $ 2,008,543.33 THE GOOD FAITH CHECK WILL BE RETURNED TO ISSUER ON SETTLEMENT DATE ,l_ • 9156756218 FIRST SOUTHWEST CO F-146 T-632 P-003/006 JUN 06 '95 13:32 JoeW. Smith Oill!dor Ms. Joyce McElro}· First Southwest Company 1700 Pacific Avenue, Suite SOO Dallas, Te;xa.o; 75201 •f FIRST SOUTHWFST COMPANY JWJe 6, 1995 RE; $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBUGATION, SERIES 1995 Dear Joy~: This will confinn our telephone conversation when I advised that subject Certificates will be ready for delivery to your account on June 15, 1995. Payment, as set forth in the Notice, is to be made by 10:00 AM, CDT, in immed.iately available funds, wired to Notwest Bank Minnesota, N.A., ABA #091000019, Trust Clearin~ Account: #lQ-38-377, Attention: Paula Hecht, Account #13148300 for the .account of the City of Lubbock, Texas. Our calculation of payment figures is sbown on the attached. Would you please indicate on the enclosed duplicate of this letter. -returning it to us, if our figures are in agreement • .By ropy of this letter we are advising the City that, upon receipt of fundst the Good Faith Deposit should be properly endorsed to your fmn and returned (Federal Express) to your attention. Thanks very much for your cooperation m effectinB timely d~livery of these Certi cc via fax: Mr. Marlc Hindman Ms. Beb.iy Wood Ms. Betty M. Johnson Mr. Jimmy RodriJuez City of Lubbock, Texas Ms. Nancy S. Sampair Notwest Bank, Minnesota, N .A. Minneapolis. Minnesota Mr. MarkS. Westergard Fulbright & Jaworski L.L.P. Dallas, Texas OUR FIGURES ARE IN AGREEMENT ARSTSOUTHWESTCOMPANY BY: -~-----· INVESTMENT BANKERS 402 Cypri$s Street, Suite 103 • Abikl'l£, Texas 79601 • 91.5-672-8432 • FAX 91.5·675-6218 9156756218 FIRST SOUTHL<.JEST CO .. .P ... PRINClP AL AMOUNT PLUS PREMIUM PLUS ACCRUED INTEREST (TO 6-15·95) NET AMOUNT OUE F-146 T-632 P-004/006 JUN 06 '95 13:33 $ 2,000,000.00 21.15 $ 2,000,021.25 8,522.08 $ 2,008,543.33 THE GOOD FAITH CHECK WILL BB RETURNED TO ISSUER ON SETTLEMENT DATE Honorable Mayor and City Council City of Lubbock, Texas Membera of the City Council: OmCJAL BID FORM May II, 1995 Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated April 20, 1995, of $2,000,000 CITY OF LUBBOCK, TEXAS TAX AND HOTEL OCCUPANCY TAX SURPLUS REVENUE CERTIFICATES OF OBUOATION, SERIES 1995, both of which constitute a part hereof. For your legally issued Certificates, as described in said Notice of Sale and Bidding JnstructiOJIS and Official Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of$ 01-f, ~:> for Certificates maturing and bearing interest as follows: Principal Jnterest Maturitt Amount B!te 2~15~1996 $265,000 ,,5o"· 2-15~1997 310,000 ~" 2-1~1998 330,000 4.5 " 2-15-1999 345,000" /.f.~ " 2-15-2000 365,000 "f, 7 " 2-IS-2001 3~,000 ~" Our calculation (which is not a part of this bid) of the interest cost from the above is: .;.1'1, o't&.'"15 ..21 • .:1.5. Total Jnterest Cost Less Premium NET INTEREST COST EFFECTIVE INTEREST RATE $ s 3.J.9 ,o1'-.. so ..., . '? '14r95\ We are having the Certificates of the following maturities-------~:----:---:--:--:-:-:--::--:::-""":" insured by at a premium of$~---:":'":'--:-:---;;::---' said Premium to be paid by the Pun:ba<~er. Any fees to be paid to the rating agencies as a result of said insurance will be paid by the City, The Initial Certificate shall be registered in the name of First Southwest Company . We will advise The Depository Trust Company ("DTC") of registration instructions at least five business days prior to the date set for Initial Delivery. A bank cashier'• check or certified check of the Nationsbanc Bank, Dallas , in the amount of $40,000.00, which represents our Good Faith Depoait (ia attached hereto) or (has been made available to you prior to the opening of this bid), and is submitted in accordance with the terms as lilt forth in the Official Statement and Notice of Sale and Bidding Instructions. We agree to accept delivery of the Certificates utilizing the Boot-Entry-Only System through DTC and mate payment for the Initial Certificate in immediately available funds in the Corporate Trust Diviaion, Norwell Bank Minnesota, National Association, Minneap1is, Minnesota, not later than 10:00 AM, CDT, on June IS, 1995, or thereafter on the date the Certificate& are tendered for delivery, purauant to the terms lilt forth in the Notice of Sale and Bidding Instructions. The underaigned agrees to complete, execute, and deliver to the City, at least aix business daya prior to delivery of the Certificates, a certificate relating to the wissue pricew of the Certificates in the form and to the effect accompanying the Notice of Sale and Bidding Instructions, with such changes thereto 11 may be acceptable to the City. We agree to provide in writiDg the initial reofferillg prices and other terms, if aoy, to the PinaDdal Admor by the dose or tbe llext business day after the award. Respectfully submitted,·· First Southwest Comany -Mgr Stephens Inc. -Jt Mgr The above and foregoing bid is hereby in allthinga accepted by the City of Lubboc =~~;~~·= City Secre~~··- J NationsBank Fax 214 508-2163 Corporate Trust (TX.l-492-18-02) 901 Main Street, 18th Floor (75202-3783) P. 0. Box 831402 (75283-1402) Dallas, TX Nations Bank May 4, 1995 Ms. Glenda Carter First Southwest Company 402 Cypress Suite 103 Abilene, TX 79601 Re: City of Lubbock Tax & Hot Occ Tax Surp Rev C/0, Series 1995 Dear Glenda: Enclosed, you will find NationsBank cashier's check number 0995-000134 in the amount of $40,000.00. This Check is being submitted for the Good Faith Escrow on the captioned financing. Please apply the check to the bidders listed below: Dean Witter Reynolds, Inc. Dillion Read & Co., Inc. First Southwest Company Morgan Keegan & Co., Inc. PaineWebber, Inc. Prudential Securities, Inc. Rauscher Pierce Refsnes, Inc. Stephens Inc. Should the winning bidder not be listed above, please return the check to me. I will contact your office shortly after the sale date to find out who won the bid. If you have any questions you can contact me at (214)508-1798 or Reanne Barber at (214)508-1705. Kay Tennant Trust Associate enclosure Member FDIC