1971-09 (Bid of Arch Roberts)A
RESOLU I01I -F AWARD
WHEREAS, pursuant to notice heretofore duly published for the sale of $480,500.00
General Obligation Refunding Bonds of the City of Okeechobee, Florida; the City Council
of the City of Okeechobee, Florida met on August 24, 1971 at 1:00 o'clock P.M. Eastern
Daylight Savings Time to open and consider all bids submitted for said bonds; and
WHEREAS, the following bids Were submitted; NONE.
Then, there being no bids received, the Fiscal. Agents for the City:
ARCH W. ROBERTS & CO.
605 N. E. First Street
P. 0. Drawer 1586
Gainesville, Florida 32601
were requested to assist the C' v it -
provide funds by December 1.971: The said Arch W. Roberts & Co. thereupon 1 4
submitted its proposal in the form of a bid with bid bond in accordance
with the notice of sales the bid being in proper form in all respects and
being acceptable as a bid or as the lowest and best proposal for private
sales which bid is hereto attached and made a part hereof; and
WHEREAS, after due consideration it appears to the City Council of the
City of Okeechobee, Florida that the bid of ARCH d. ROBERTS AND CO. in the
amount; of $48o,500.00 and accrued interest for the $480,500.00 General
Obligation Refunding Bonds, bearing interest as hereinafter stated is the
best bid received;
N042 THEREFORE, Bre IT RE -501 ,`%TED BY !HE CITY COUNCIL OF THE CITY OF
OKEECHOBEE,•FLORIDA, that:
SECTION 1. The $480,500.00 General Obligation Refunding Bonds be
awarded to ARCH W. ROBERTS & CO. at the price of $480,500.00
and accrued interest for said bonds bearing interest as follows:
Bonds Maturing Interest Rate
1972 through 1982
7.50%
1983 through 1990
6.75'
1991 through 1995
6.875%
1996
6.75%
SECTION 2. The proper officers of the City of Okeechobee be and they
are hereby authorized and directed to execute said bonds when prepared and
to deliver same to said purchaser upon payment of the purchase price pursuant
to the conditions stated in the Notice of Sale without further authority
from this Council.
SECTION 3. The said bonds will be payable at American Na.tirmal Bank
and Trust Company of South Passadena„ South Pasadena, Florida 33707
SECTION 4. The action of the City Clerk publishing the Notice of
Sale of said bonds in The Okeechobee News, Okeechobee, Florida, and the
preparation of.the Official Statement for said bonds is hereby, in all
respects, ratified and confirmed.
SECTION 5. The City Clerk of the City of.Okeechobee be and is hereby
authorized and directed to return forthwith the good faith checks of all.
unsuccessful bidders.
;F,f:TIGN 6� This Raanitjtinn shall_ take effect immediately upon its
passage.
Passed this 24th day of August, 1971.
President of the City Council
Attest:
CITY CLERK