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