Resolution 09761OR NAL
RESOLUTION NO. 9751
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA
PROVIDING FOR THE BORROWING OF FUNDS FOR FISCAL YEAR
I982-1983 AND THE ISSUANCE OF 1982 TAX AND REVENUE
ANTICIPATION NOTES THEREFOR
WHEREAS, pursuant to Sections 53850 et seq. of the Government Code of
the State of California, this City Council (the "Council") has found and
determined that the sum of Four Million Dollars /$4,000,00 is needed for the
requirements of the City of Alameda (the "City"), a chartered city and
municipal corporation duly organized and existing under the Constitution of
the State of California, to satisfy obligations payable from the General Fund
Of the City, and that it is necessary that said sum be borrowed for such
purpose at this time by the issuance of temporary notes therefor in
anticipation of the receipt of taxes, revenue and other moneys to be received
by the City for the General Fund of the City during or allocable to Fiscal
Year 1982-1983; and
WHEREAS, it appears, and the Council hereby finds and determines, that
said sum of Four Million Dollars ($4`000,000), when added to the interest
payable thereon, does not exceed eighty-five percent (85%) of the estimated
amount of the uncollected taxes, revenue and other mo of the City for the
General Fund of the City attributable to Fiscal Year 1982-I983, and available
for the payment of said notes and the interest thereon (as hereinafter
provided);
NOW, THEREFORE, the City Council of the City of Alameda hereby finds,
determines, declares and resolves as follows:
Section 1. Recitals True and Correct. All of the recitals herein set
forth are true and correct, and the Council so finds and determines.
Section 2. Issuance and Terms of Notes. Solely for the purpose of
anticipating taxes, revenue and other moneys to be received by the City for
the General Fund of the City during or allocable to Fiscal Year 1982-1983, and
not pursuant to any common plan of financing, the City hereby determines to
and shall borrow the aggregate principal sum of Four Million Dollars
($4,000,000) by the issuance of temporary notes under Sections 53850 et seq.
of the Government Code of the State of California, designated "City of Alameda
1982 Tax and Revenue Anticipation Notes" (the "Notes"), to be numbered from 1
consecutively upward in order of issuance, to be in the denomination of
$25,000, $50,000, $100,000 or $1,000,000, or any combination thereof, as
specified by the successful purchasers thereof, to be dated July 1, 1982, to
mature (without option of prior redemption) on June 30^ 1983, and to bear
interest, payable at maturity and computed on a 30-day 0OOth/360-day year
basis, at the rate or rates determined at the time of sale thereof. Both the
principal of and interest on the Notes shall be payable, only upon surrender
thereof, in lawful money of the United States of America, at the principal
office of Bank of America National Trust & Savings Association in San
Francisco, California, or at the principal office of BankAmerica Securities
Services Company of New York, in New York, New York.
Section 3. Form of Notes. The Notes shall be issued without coupons
and shall be substantially in the form and substance set forth in Exhibit A
attached hereto and by reference incorporated herein, the blanks in said form
to be filled in with appropriate words and figures.
Section 4. Use of Proceeds. The moneys so borrowed shall be deposited
in the General Fund of the City and used and expended by the City for any
purpose for which it is authorized to expend funds from the General Fund of
the City.
Section 5. Security. The principal amount of the Notes, together with
the interest thereon, shall be payable from taxes, revenue and other moneys
which are received by the City for the General Fund of the City for the Fiscal
Year 1982-1983. As security for the payment of the principal of and interest
VD the Notes the City hereby pledges (a) the first $2,000,000 of "unrestricted
moneys", as hereinafter defined, to be received in December, 1982, (b) the
first $1,000,000 of unrestricted moneys to be received in April, 1983, (c) the
first t1,000,000 of unrestricted moneys to be received in May, 1983, and (d)
the first t360,000, together with any additional amount required to pay the
interest on the Notes, of unrestricted moneys to be received in June, 1983,
(such pledged amounts being hereinafter called the "Pledged Revenue"); and the
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principal of the Notes and the interest thereon shall constitute a first lien
and charge thereon and shall be payable from the Pledged Revenues. To the
extent not s8 paid from the Pledged Revenues, the Notes shall be paid from any
other moneys of the City lawfully available therefor. In the event that there
are insufficient unrestricted moneys received by the City to permit the
deposit into the Repayment Fund, as hereinafter defined, of the full amount of
the Pledged Revenues to be deposited in any month by the last business day of
such month, then the amount of any deficiency shall be satisfied and made up
from any other moneys of the City lawfully available for the repayment of the
Notes and interest thereon. The term "unrestricted moneys" shall mean taxes,
income, revenue, cash receipts, and other moneys intended as receipts for the
General Fund of the City and which are generally available for the payment of
current expenses and other obligations of the City.
Section O. Fiscal Agent. Bank of America National Trust & Savings
Association is hGrebv appointed to act as the Fiscal Agent and depository of
the City for the 'pose of receiving the Pledged Revenues as defined in this
Resolution, to hold, allocate, use and apply the Pledged Revenues and to
perform such other duties and powers of the Fiscal Agent as are prescribed in
this Resolution. That certain Agreement attached hereto as Exhibit B relating
to the duties of the Fiscal Agent is hereby approved substantially in the form
presented to this Council, and the Mayor of the City hereby DUth0riZ8d and
directed for and in the name and on behalf of the ' City to execute, and the
City Clerk is hereby authorized to attest, said Agreement with such additions,
changes and corrections as the Director of Finance may approve after
consultation with the City's legal counsel, such approval to be conclusively
evidenced by the Mayor's execution of said Agreement with such additions,
charges or corrections.
Section 7. Repayment Fund. The Pledged Revenues shall be held by the
Fiscal Agent in a special fund designated "1982 Tax and Revenue Anticipation
Note Repayment Fund" (the "Repayment Fund") and applied as directed in this
Resolution. Any money placed in the Repayment Fund shall be for the benefit
of the Notes, and until the Notes and all interest thereon are paid or until
provision has been made for the payment of the Notes at maturity with interest
to maturity, the moneys in the Repayment FUDd shall be applied solely for the
purposes for which the Repayment Fund is created.
From the date this Resolution takes effect, all Pledged Revenues shall,
during the months in which received, be transferred to the Fiscal Agent for
deposit in the Repayment Fund, On June 30, 1083, the moneys in the Repayment
Fund shall be used, to the extent necessary, to pay the principal of and
interest on the Notes. Any moneys remaining in the Repayment Fund after the
Notes and the interest thereon have been paid, or provision for such payment
has been made, shall be transferred to the City for deposit in its General
Fund.
Section 8. Deposit and Investment of Fund. All moneys held by the
Fiscal Agent in the Repayment Fund, if not invested, shall be held in time or
demand deposits of public funds (including the banking department of the
Fiscal Agent) and shall be secured at all times by bonds or other obligations
which are authorized by law as security for public deposits, of a market value
at least equal to the amount required by law.
Moneys in the Repayment Fund, to the greatest extent possible, shall be
invested in investment securities either by the Director of Finance or by the
Fiscal Agent as the Director of Finance may direct, as permitted by the laws
Of the State of California as now in effect and as hereafter amended, modified
or supplemented from time to time, and the proceeds of any such investments
shall be deposited in the Repayment Fund and shall be part of the Pledged
Revenues.
Section 9. Execution of Notes. The Director of Finance of the City is
hereby authorized to execute the Notes either by manual or facsimile
signature, and the City Clerk of the City is hereby authorized to countersign
the same by either manual or facsimile signature and to affix the seal of the
City thereto either manually or by facsimile impression thereof, and said
officers are hereby authorized to cause the blank spaces thereof to be filled
in as may be appropriate.
Section 10. Covenants and Warranties. It is hereby covenanted and
warranted by the City that all representations and recitals contained in this
Resolution are true and correct, and that the City and its appropriate
officials have duly taken all proceedings necessary to taken by them, and will
take any additional proceedings necessary to be taken by them, for the prompt
collection and enforcement of the taxes, revenue, cash receipts and other
moneys pledged hereunder in accordance with law and for carrying out the
provisions of this Resolution.
Section 11. Arbitrage Covenant. This Council, as issuer of the Notes
on behalf of the City, hereby covenants that it will make no use of the
proceeds of the Notes which would cause the Notes to be "arbitrage bonds"
under Section 103(c) of the Internal Revenue Code of 1954, as amended; and, to
that end, so long as any of the Notes are outstanding, the issuer with respect
to the proceeds of the Notes, and all officers having custody or control of
such proceeds, shall comply with all requirements of said section and of the
regulations of the United States Department of the Treasury thereunder, to the
extent that such regulations are, at the time, applicable and in effect, so
that the Notes will not be "arbitrage bonds."
Section 12. Sale of Notes. All the Notes shall be offered for public
sale on June 15, 1982, in accordance with the Notice Inviting Bids on the
Notes, dated June 1, 1982, attached hereto as Exhibit C and by reference
incorporated herein, and said Notice Inviting Bids, in substantially the form
presented to this meeting, is hereby approved with such additions, changes and
corrections as Stone & Youngberg Municipal Financing Consultants Inc. may
approve upon consultation with the Director of Finance. Stone & Youngberg
Municipal Financing Consultants Inc. is hereby authorized in its discretion to
distribute and publish copies of said Notice Inviting Bids in connection with
the offering and sale of the Notes.
Section 13. Publication of Notice of Sale. Publication of the Notice
of Sale, dated May 18, 1982, attached hereto as Exhibit D, on May _, 1982, in
The Wall Street Journal in accordance with Section 53692 of the Government
Code of the State of California, is hereby approved, ratified and confirmed.
Section 14. Official Statement. The Official Statement relating to the
Notes, dated May 18, 1982, attached hereto as Exhibit E, in substantially the
form presented to this meeting, is hereby approved with such additions,
changes and corrections as Stone & Youngberg Municipal Financing Consultants
Inc. may approve upon consultation with the Director of Finance, and said
financing consultant firm is hereby authorized to distribute copies of said
Official Statement in connection with the offering and sale of the Notes.
PASSED AND ADOPTED by the City Council of the City of Alameda,
California, this 1st day of June, I982, by the following vote:
AYES: Councilmen Diament, Gorman, Sherratt, Stone and President Corica - 5.
NOES: None.
ABSENT: None,
(S E A L)
Attest:
EXHIBIT A
CITY OF ALAMEDA, CALIFORNIA
1982 TAX AND REVENUE ANTICIPATION NOTE
No. 9761 (Resolution)
$ 4,000,000 Date: July 1, 1982
FOR VALUE RECEIVED, the City of Alameda (the "City "), State of
California, acknowledges itself indebted to and promises to pay to the bearer
hereof, at the principal office of Bank of America National Trust & Savings
Association in San Francisco, California, or at the principal office of
BankAmerica Securities Services Company of New York, in New York, New York,
the principal sum of
Four Million
DOLLARS ($ 4,000,000 )
in lawful money of the United States of America, on June 30, 1983, together
with interest thereon at the rate of % per annum in like lawful money from
the date hereof until payment in full of said principal sum. Both the
principal of and interest on this Note shall be payable only upon surrender of
this Note as the same shall fall due; provided, however, no interest shall be
payable for any period after maturity during which the holder hereof fails
properly to present this Note for payment.
It is hereby certified, recited and declared that this Note is one of an
authorized issue of Notes in the aggregate principal amount of Four Million
Dollars, ($4,000,000), all of like tenor, issued pursuant to the provisions of
Resolution No.9761 of the City Council of the City duly passed and adopted
on June 1, 1982, and pursuant to Article 7.6 (commencing with Section 53850)
of Chapter 4, Part 1, Division 2, Title 5, of the California Government Code,
and that all things, conditions and acts required to exist, happen and be
performed precedent to and in the issuance of this Note have existed, happened
and been performed in regular and due time, form and manner as required by
law, and that this Note, together with all other indebtedness and obligations
of the City, does not exceed any limit prescribed by the Constitution or
statutes of the State of California.
The principal amount of the Notes, together with the interest thereon,
shall be payable from taxes, revenue and other moneys which are received by
the City for the Repayment Fund of the City for the Fiscal Year 1982 -1983. As
security for the payment of the principal of and interest on the Notes the
City has pledged (a) the first $2,000,000 of "unrestricted moneys ", as
A -1
hereinafter defined, to be received in December, 1982, (b) the first
1,000,000 of unrestricted moneys to be received in April, 1983, (c) the first
$1,000,000 of unrestricted moneys to be received in May, 1983, and (d) the
first $350,000, together with any additional amount required to pay the
interest on the Notes, of unrestricted moneys to be received in June, 1983'
(such pledged amounts being hereinafter called the "Pledged Revenues"); and
the principal of the Notes and the interest thereon shall constitute a first
lien and charge thereon and shall be payable from the Pledged Revenues, and to
the extent not so paid shall be paid from any other moneys of the City
lawfully available therefor. As used herein, the term "unrestricted moneys"
means the taxes, income, revenue, cash receipts, and other moneys, intended as
receipts for the General Fund of the City and which are generally available
for the payment of current expenses and other obligations of the City.
IN WITNESS WHEREOF, the City of Alameda has caused this Note to be
executed by the Director of Finance of the City and countersigned by the City
Clerk of the City, and caused its official seal to be affixed hereto all as of
this first day of July, 1982.
CITY OF ALAMEDA
By
(S E A L)
EXHIBIT B
AGREEMENT
THIS AGREEMENT, made and entered into this 2nd day of June , 1982,
by and between the CITY OF ALAMEDA (herein called the "City ") and BANK OF
AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION (herein called the "Bank ").
W I T N E S S E T H:
WHEREAS, the City has authorized and provided for the issuance of
$4,000,000 principal amount of its 1982 Tax and Revenue Anticipation Notes
(the "Notes "); and
WHEREAS, the Bank, at its principal office in the City and County of San
Francisco, has been designated as Fiscal Agent for the Notes; and
WHEREAS, it is mutually desirable that an Agreement be entered into by
the parties hereto to provide for the Bank's services;
NOW, THEREFORE, the parties hereto in consideration of the mutual
covenants herein agree as follows:
1. The Bank shall perform the duties imposed on it by Resolution
No. 9761 of the City Council of the City adopted June 1, 1982 (the
"Resolution ").
2. The City shall faithfully observe and perform all of the conditions,
convenants and requirements of the Resolution and of the Notes. Nothing
herein contained shall prevent the City from making advances of its own
moneys, howsoever derived, for any of the uses or purposes referred to herein
and in the Resolution.
3. The Bank shall deposit all funds received by it in the 1982 Tax and
Revenue Anticipation Note Repayment Fund account (the "Repayment Fund
account ") established by the City pursuant to the Resolution. The Bank shall
submit to the City monthly statements, commencing in January, 1983, showing
the receipt and investment of all funds in such account as of the end of the
last preceding accounting period of the City. The Bank shall follow the
instructions of the Director of Finance of the City with respect to the
investment of funds in the Repayment Fund account. The Bank shall also follow
the instructions of the Director of Finance of the City with respect to the
transfer of funds to the Paying Agents for the Notes to permit the payment
thereof at maturity in immediately available funds.
4. The City agrees to pay the Bank (i) an acceptance fee of $1,000,
(ii) an investment fee equal to $50 per investment and (iii) a fee of $1.60
per Note for payment of the Notes and interest thereon together with the
destruction thereof.
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Bv 5. In addition to the amounts set forth in paragraph 4, the City will
reimburse the Bank for its normal out-of-pocket expenses such as, but not
limited to, delivery, postage, insurance, telephone, telegraph, legal, travel
and consultants' charges, but not including overhead. However, should a
default occur requiring special action by the Fiscal Agent with regard
thereto, the City agrees to pay a reasonable fee depending upon the amount and
nature of the services involved.
6. The terms and conditions of this Agreement are for the mutual
benefit of the City and the Bank exclusively, and are not intended to give any
third party any right or claim, contractual or otherwise, hereunder.
7. All notices, documents and other correspondence will be mailed or
delivered to the Bank at the principal office of Bank of America National
Trust & Savings Association in the City and Countv of San Francisco,
California, and to the City at its administrative offices in the City of
Alameda, California, Attention: Director of Finance, or such other address as
either party shall from time to time indicate in writing to the other.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to b�
duly executed the day and year first above written. °
Attest:
City Clerk
CITY OF ALAMEDA, a municipal corporation
Mayor
By:
'
� CA'0�TIUNAL TRUST &
SAVINGS ASSOCIATION
EXHIBIT C
NOTICE INVITING BIDS ON
$4,000,000
1982 TAX AND REVENUE ANTICIPATION NOTES
CITY OF ALAMEDA, CALIFORNIA
NOTICE IS HEREBY GIVEN that sealed proposals for the purchase of
$4,000,000 par value negotiable 1982 Tax and Revenue Anticipation Notes of the
City of Alameda, California, will be received by the City Council of said City
at the place and up to the time below specified.
TIME: 10:00 A.M., local time, June 15, 1982
PLACE:
MAILED BIDS:
C/o City Council of the City of Alameda
C/o Stone & Youngberg Municipal
Financing Consultants, Inc.
One California Street, Suite 2750
San Francisco, California 9411I
Addressed to the City Council of the City of Alameda
at the above address.
NUMBER OF BIDS: Bidders may submit more than one bid.
ISSUE: $4,000,000 designated "City of Alameda 1982 Tax and Revenue
Anticipation NDtSs^'/ numbered 1 consecutively upward, in denominations of
t25,000» $50,000, $100,000 or $1,000,000, as specified by the successful
bidder or bidders, dated July 1, 1982,
MATURITY: The Notes will all mature on June 30, 1983.
INTEREST: The Notes will bear interest at a rate or rates to be fixed
upon the sale thereof but not to exceed twelve percent (12%) per annum,
payable at maturity. Interest shall be computed on a 30-day 0ODth/360-day
year basis.
PAYMENT: Said Notes and the interest thereon are payable in lawful
money of the United States of America at the principal office of Bank of
America National Trust & Savings Association, in San Francisco or BankAmerica
Securities Services Company of New York, in New York, New York.
FORM OF NOTES: The Notes will be issued in negotiable form, payable to
bearer, without coupons, and will be nonregistrable.
REDEMPTION: The Notes are not subject to call or redemption prior to
maturity.
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PURPOSE OF ISSUE: The proceeds of the Notes will be used for current
general obligation expenditures, including current expenses, capital
expenditures, and the discharge of any obligat of indebtedness of the City.
SECURITY: The Notes are issued pursuant to Article 7.6, Chapter 4, Part
1, Division 2, Title 5 (commencing with Section 53850 of the Government Code
of the State of California). The Notes, in accordance with California law,
are general obligations of the City but are payable only out of the taxes,
income, revenue, cash receipts and other moneys of the City attributable to
the fiscal year 1982/1983 and legally available for payment thereof. The
ability of the City to levy ad valorem property taxes was substantially
limited in 1978 by Proposition 13 which amended the California Constitution.
The amount of unrestricted revenue available for payment of the Notes is
expected to be approximately $18°000,000. The Notes are secured by City's
pledge of (a) the first $2,000,000 of "unrestricted moneys", as hereinafter defined, to be received in December, 1982, (b) the first $1,000,000 of
unrestricted moneys to be received in April, 1883, (c) the first $1,000,000 of
unrestricted moneys to be received in May, 1983, and (d) the first $360,000,
together with any additional amount required to pay the interest on the Notes,
of unrestricted moneys to be received in June, 1983, to be received as
security for the Notes and the interest thereon. In furtherance of this
pledge, the City has appointed Bank of America National Trust & Savings
Association, California, as Fiscal Agent. The Resolution authorizing the
issuance of the Notes requires said pledged moneys to be transferred to the
Fiscal Agent to be held in a special fund until June 30, 1983, at which time
said pledged moneys will be used to repay the Notes.
TERMS OF SALE
INTEREST RATE: The maximum rate may not exceed 12% per annum, payable
at maturity. Each rate bid must be a multiple of 1/100. No Note shall bear
more than one interest rate. Bidders may submit more than one bid. Each Note
must bear interest at the rate specified in the bid from its date of issuance
to its fixed maturity date.
AWARD: Bids may be for all or any part of the Notes. The Notes will be
awarded on the basis of the lowest net interest cost. The interest cost of
each bid will be determined by deducting the amount of premium specified (if
any) from the total amount of interest which the City would be required to pay
from the date of the Notes to their maturity date at the interest rate or
rates specified in the bid. No bid for less than $I00,000 principal amount of
Notes will be entertained. The City Council reserves the right to award to
any bidder all or any part of the Notes which such bidder offers to purchase
in his proposal, upon the basis of his proposal. If only a part of the Notes
bid for in a proposal is awarded by the City Council, any premium specified in
Such proposal shall be prorated. In the event two or more bids setting forth
identical interest rates and premium per dollar principal amount, if any, and
aggregate a principal amount in excess of the principal amount of unawarded
Notes are received, the City Council reserves the right to exercise its own
discretion and judgment in making the award and may award the Notes on a pro
rata basis in such denominations as the City shall determine. Each successful
bidder must pay interest accrued on the Notes from their date to the date of
delivery, computed on a 30-day month/360-day year basis.
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RIGHT OF REJECTION: The City Council reserves the right, in its
discretion, to reject and and all bids and to the extent not prohibited by law
to waive any irregularity or informality in any bid.
PROMPT AWARD: The City Council will take action awarding the Notes or
rejecting all bids not later than twenty -six (26) hours after the time herein
prescribed for the receipt of proposals; provided that the award may be made
after the expiration of the specified time if the bidder shall not have given
to the City Council notice in writing of the withdrawal of such proposal.
PLACE OF DELIVERY; FUNDS FOR PAYMENT; PRINTING: Delivery of said Notes
will be made to the successful bidder or bidders in San Francisco, California
or Los Angeles, California, as specified by such bidder or bidders. Payment
for the Notes shall be made in Federal Reserve Bank funds or other immediately
available funds. The cost of printing the Notes shall be borne by the City.
PROMPT DELIVERY; CANCELLATION FOR LATE DELIVERY: It is expected that
said Notes will be delivered to the successful bidder or bidders on or about
July 1, 1982. The City reserves the right to deliver the Notes in temporary
form exchangeable within seven days for definitive Notes, at no cost to the
successful bidder or bidders. Any successful bidder shall have the right, at
its option, to cancel the contract of purchase if the City shall fail to
execute the Notes and tender them for delivery within 30 days from the date
herein fixed for the receipt of bids.
FORM OF BID: No bid may be for less than the par value of the Notes bid
upon, plus accrued interest to the date of delivery. Each bid must be in a
sealed envelope, addressed to the City Council of the City of Alameda with the
envelope clearly marked "Proposal for City of Alameda 1982 Tax and Revenue
Anticipation Notes." Each bid must be in accordance with the terms and
conditions set forth herein and must be submitted on, or in substantial
accordance with, proposal forms provided by the City.
BID CHECK: A certified or cashier's check drawn on a responsible bank
or trust company in the amount of one percent of the principal amount of the
Notes bid, payable to the order of the Director of Finance of the City of
Alameda, must accompany each proposal as a guaranty that the bidder, if
successful, will accept and pay for the Notes in accordance with the terms of
its bid. The check accompanying any accepted proposal shall be applied to the
puchase price or, if such proposal is accepted but not performed, unless such
failure of performance shall be caused by any act or omission of the City, it
shall then be cashed and the proceeds retained by the Director of Finance.
The check accompanying each unaccepted proposal will be returned promptly. If
only a part of the Notes bid for in a proposal is awarded by the City Council
the amount of the bid check, will be prorated and the bidder may substitute a
check for the prorated amount in place of the bid check accompanying the
proposal. No interest will be paid by the City on a bidder's good faith check.
CHANGE IN TAX EXEMPT STATUS: At any time before the Notes are tendered
for delivery, any successful bidder may disaffirm and withdrawn its proposal
if the interest received by private holders from notes of the same type and
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character shall be declared to be taxable income under present federal income
tax laws, either by a ruling of the Internal Revenue Service or by a decision
of any federal court, or shall be declared taxable or be required to be taken
into account in computing any federal income taxes by the terms of any federal
income tax law enacted subsequent to the date of this Notice.
CLOSING PAPERS; LEGAL OPINION: Each proposal will be understood to be
conditioned upon the City furnishing to each successful bidder, without
charge, concurrently with payment for and delivery of the Notes, the following
closing papers, each dated the date of such delivery:
(a) The opinion of Jones Hall Hill & White, A Professional Law
Corporation, of San Francisco, California, Bond Counsel, approving the
validity of the Notes and stating that interest on the Notes is exempt from
income taxes of the United States of America under present federal income tax
laws, and that such interest is also exempt from personal income taxes of the
State of California under present State income tax laws. A copy of said
opinion, certified by an officer of the City by facsimile signature, will be
printed on the back of each Note. No charge will be made to the purchaser for
such printing or certification.
(b) The certificate of the City that on the basis of the facts and
estimates and circumstances in existence on the date of delivery, it is not
expected that the proceeds of the Notes will be used in a manner that would
cause the Notes to be arbitrage bonds.
(c) The certificate of an appropriate City official acting on
behalf of the City solely in his official, and not his personal capacity, that
there is not litigation threatened or pending affecting the validity of the
Notes.
(d) The certificate of an appropriate City official, acting on
behalf of the City solely in his official, and not his personal capacity, that
as of the date of the Official Statement of the City pertaining to the Notes
and at all times subsequent thereto up to and including the time of delivery
of the Notes to the initial purchasers thereof the Official Statement together
with any amendments thereto did not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein
in light of the circumstances under which they were made, not misleading.
(e) The certificate of City officials, showing that they have
signed the Notes, whether by facsimile or manual signature, and that they were
respectively duly authorized to execute the same.
(f) The receipt of the Director of Finance of the City of Alameda
showing that the purchase price of the Notes, including interest accrued to
the day of delivery thereof, has been received by him.
INFORMATION AVAILABLE: Requests for information concerning the City
should be addressed to:
Mr. Ray Nobriga
Director of Finance
City of Alameda
City Hall
Santa Clara at Oak Street
Alameda CA 94501
(415) 522-4100
or
Mr. William Rutherford
Stone & Youngberg Municipal
Financing Consultants, Inc.
One California Street,
Suite 2750
San Francisco CA 94111
/415\ 989-2300
The City will provide each successful bidder such number of printed
copies of the Official Statement for this issue as such bidder may request.
Up to 100 copies of the Official Statement will be furnished without cost, on
a pro rata basis depending on the principal amount of Notes awarded to such
bidder, and any additional copies will be furnished at the expense of the
bidder.
Given by order of the City Counci
adopted June 1, 1982.
of the City of Alameda, California,
E. DEEN SPEEG
City Clerk
City of Alameda
EXHIBIT D
NOTICE OF SALE
CITY OF ALAMEDA
1982 TAX AND REVENUE ANTICIPATION NOTES
NOTICE IS HEREBY GIVEN that the City Council of the City of Alameda (the
"City "), State of California, intends to offer for public sale on June 15,
1982, at the hour of 10:00 o'clock A.M., local time, at the offices of Stone &
Youngberg Municipal Financing Consultants, Inc., One California Street, Suite
2750, San Francisco, California 94111, not to exceed $4,000,000 principal
amount of tax and revenue anticipation notes of the City designated "City of
Alameda 1982 Tax and Revenue Anticipation Notes" (the "Notes ").
NOTICE IS HEREBY FURTHER GIVEN that the Notes will be offered for public
sale subject to the terms and conditions of the Notice Inviting Bids on the
Notes, dated June 1, 1982, and copies of said Notice Inviting Bids and the
Official Statement relating to the Notes will be furnished upon request mailed
to the Director of Finance, City of Alameda, City Hall, Santa Clara at Oak
Street, Room 210, Alameda, California 94501.
Dated: May 18, 1982
E. DEEN SPEEGLE
City Clerk of the City of Alameda
State of California