HomeMy WebLinkAbout1969-09-23; Parking Authority; Minutes'.~: •• .. : ..
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• -·/M.ee·d ng • of:.· • .•. : ciRLSBAU PARKING AUJHtfairv _.·-_.·
• Date: of Meeting: . Septemb.ef 23,.}969 _.,., ·
:TimeofMe·eting: 2:00P.Mt-· >. ·
.... • Place of Mee tin : Cod.nci l Chambers.
M~mb~rs Present:. birect~r; Snedefi~, Ca~non i~d
Killen~
Members Absent: oi.:.eCtors "Daugherty arid Sugg.
Also prese~t were Ci~j Managi~ Mattin~ Mr.· ~ei1i
.and Mr. Mattison of Bartle WeJls Associates, a:ri'd·. _ ...
. Urb.an Schreiner of O 'Mel veny•·& ·Myers, _Attorne,Y·s at•· •• "law. · · • ·-• · · ·
Acttng •Chairman· Snedeke·r :announced this ):ieing the
~im~ ftnd place fixed for the~opening of bld~ fdi-
·$1,535,000.bonds of ·Carlsbad P.arldng AuJ_h,ority,·,,.
qesignated 11 1969. Parking Revenue Bonds", 'the· .. •.
following bids received pursuant to the n6tice:df
sale were publicly opened, examined arid read: .
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• s'e CU r i ty Pac i f i c Nati On a l 8 an k a S a gen t f Qr
__ .,._-..!:B:..!l.:L.y~t.:.:,h _, &::_:C~-o::..:·~,~I.:.:.n.::.c..:... • __________ bid $..l, 5 O 5 • 3 5 9 pl~ s · •
_ accrued interest tC? date of delivery, for bonds bearing interest
_· payable semiannually at the rates of:
Rates Years
6 % 19.1.J_to 1978 .•
6.20 % 1979 to 19.fil_
6.25 % 1982 to 19JLL_
6·~ 30 % 19..§..L_to 1986
l;i.35 "/, 1987 to 19~ --
6.40 % 1990 to 19~
·Goldman, Sachs & Co.& Associates -~""-''' ~-~·, •• : ,,i;,.,:. ... J.-.
_ _;__ ___ -,---~--------------:"'.-bid $1,490,608 plus
accrued :tnterest to date of del_ivery, for bonds bearing interest
• payable semiannually at the rates of:
Rates.· ·Years·
. . ..
6.25 % -19~to 19-45_
6.50 % 1976 to 19.8.2 __ • · ·
6.60. % 1983 to 19~
6.70 <71. p 1988 to 19ll_,
6.00 % 19~to 19 _:.:.,:-_
% 19_to 19_:__
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Bank of America N. T. & s, A, and Associates
____________________ bid $ l , 504,284. 6"-5 ·plus
accrued interest to date of delivery, for bonds bearing interest
payable semiannually at the rates of:
Rates Years
6.25 % 19_1.l_to 19_]]_
6.50 % 19~to 19~
6.60 % 19 ~ t 0 19-2.§._
% 19 __ to 19 __
% 19 __ to 19 __
% to 19 __ 19
Merrill Lynch. Pierce. Fenner & Smith Inc. and
______ A __ s __ s __ o __ c .:..i __ a __ t e ..... s..._ _________________ b id $ ] , 4 8 8 , g 5 o plus
accrued interest to date of delivery, for bonds bearing interest
payable semiannually at the rates of:
Rates Years
6 % 19_1Lto 19 __
6. l 0 % 19 _l ~;J~ 0 19 __
6.20 % 19~to 19~
6.25 % 19...zLto 19.n_
6.30 % 19..BL_to 19...§_Q__
6.40 % 19_§L_to 19 93
6 _. % 1994 to 1995
Weeden & Co.
bid $1,493,428 plus
accrued interest to date of delivery, for bonds bearing interest
payable semiannually at the rates of:
Rates Years
7 % 19...1.J_to 19 75
6 1/2 % 19--1.L to 19....1]_
6.60 % 19-1.13___to 19...]L_
6.70 % 19 a3-to 19..JIB_
6 3/4 % 19_11Lto 19-9..3,_
6 l/4 % 19..1.i_to 19~ ~
... __. 3.., . '
Eac·h bid was accompanied by ·a good faith check ·in
an amount not less .thari $15,000i
All bids were then refeired to a com~ittee consist
i n g o f . M r . • We 11 s , M r . Ma t_t is o n • a n d . M r . S c h re i n e r
for.checking and computation, a report_ thereon tp
be g i v en th i s Author i tY · 1 ate r i n this -meet i n g . • . . . . ' . . ' ' '
A short recess was declared by ~he Acting Cha1rman
The me~ting recbnvened and t~e commitfee appoirited
-to check and compute th_e bid,s .on· the bonds for whi h
b-f d s· were opened. pre vi o us l y du r i n· g th i s ·meet i n g
reported that ·the bid of Security Pacific National
• Bank as agent for.Blyth & Co._, Inc._ is the b_id •
yieldin~ the lowest net interest 9ost.
~fter considering the va~ious bids and the report
thereon, it was moved by Di rector Cannon ·and
s e c on de d by D i re c to r Kil l e n t ha t Res o l u t i o n N o . 8 , : C a n n on
marked Exhibit 11 A11 • attached'hereto and made a part· Killen
hereof as if f~lly set· forth herein, be_adopted. Snedeker
By proper motion the meeting was adjourned at .
. 3:20 P.M.
Respectfully.submitted,
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