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HomeMy WebLinkAbout500-AMBAC-Certificate CERTIFICATE AS TO PUBLIC MEETINGS AND NO CONFLICT OF INTEREST STATE OF FLORIDA : COUNTY OF SEMINOLE : Each of the undersigned members of the City Commission (the "City Commission") of the City of Sanford, Florida (the "Issuer"), recognizing that the purchasers of the City of Sanford, Florida, Water and Sewer Refunding Revenue Bonds, Series 1993 (the "Bonds"), will have purchased said Bonds in reliance upon this Certificate, DOES HEREBY CERTIFY: (1) that he or she has no personal knowledge that any two or more members of the City Commission, meeting together, reached any prior conclusion as to whether the actions taken by the City Commission with respect to said Bonds, the security therefor and the application of the proceeds thereof, should or should not be taken by the City Commission or should or should not be recommended as an action to be taken or not to be taken by the City Commission, except at public meetings of the City Commission held after due notice to the public was given in the ordinary manner required by law and custom of the City Commission; (2) that he or she does not have or hold any employment or contractual relationship with any business entity which is purchasing the Bonds from the Issuer. we have hereunto af 'x our official HONIGMAN MILLER SCHWARTZ AND COHN ?i~! NOV 8t9 November 2, 1993 To Attached Distribution List Re: $25,605,000 City of Sanford, Florida Water and Sewer Revenue Refunding Bonds, Series 1993 Dear Ladies and Gentlemen: In connection with the referenced financing please find enclosed a substitute page C-1 for the Bond Purchase Agreement. _ , er ~ju2~I our ....., ..~eanne K. Adams Legal Assistant JKA/ Enclosure Ms. Carolyn C. Small Director of Finance City of Sanford, Florida Post Office 1788 Sanford, Florida 32772-1788 Janet R. Donahoe City Clerk City of Sanford, Florida Post Office 1788 Sanford, Florida 32772-1788 Randall W. Hanna, Esq. Bryant, Miller and Olive, P. A. 201 S. Monroe Street, Suite 500 Tallahassee, Florida 32301 Edwin M. Bulleit William R. Hough & Co. 100 South Second Avenue, Suite 800 St. Petersburg, Florida 33701 William L. Colbert, Esquire Stenstrom, McIntosh, Julian, Colbert, Whigham & Simmons, P.A. P. O. Box 1330 Sanford, Florida 32272 enumerated as expenses to be incurred and paid by the Underwriter, as set forth in Schedule I attached hereto. (e) The name and address of the Underwriter is as follows= William R. Hough & Co. 100 Second Avenue South, Suite 800 St. Petersburg, Florida 33701 We understand that you do not require any further disclosure from the Underwriter, pursuant to Section 218,385(6), Florida Statutes, as amended. WILL~aMR. HOUGH & CO. First Vice President C-2 g:Z!EZSZ~ "D" In accordance with section 218.385(2) and (3) the following information is provided= The City is proposing to issue $25,605,000 principal amount of debt or obligation for the purposes of (a) defeasing the Refunded Bonds; (b) paying certain costs of issuing and delivering such debt including the municipal bond insurance premium. This debt or obligation is expected to be repaid over a period of approximately 28 years. At the interest rates specified in the Bond Purchase Agreement, total interest paid over the life of the debt or obligation (lees accrued interest) will be $25,075,299.67. The source of repayment of the debt is the Pledged Revenues (as defined in the Resolution}. Authorizing this debt or obligation will not result in such Pledged Revenues becoming less available to finance the other services of the city, because the aggregate debt service payable from such Pledged Revenues will be less than the debt service payable from such Pledged Revenues prior to issuance of this debt. D-1