83 of 1978 - A resolution providing for the publication of a Notice of Bonds to be Issued with respect to $37,000 er 17, 1978
i ..•,crablc 1caoi3k,ls Phillips, Jr.
rO: missiorar of:OW Affairs
rn, Finance
211 City and County Building
salt Lake City, Utah
Dear Commissioner Phillips:
e Poard of City Commissioners, atits.meeting today, passed
Lc io?ution No. 83 of 1978,. providing for the publication of'a-Notice
_>ords to he Issued with respect to$37,000,000 Airport Revenue
Bonds, Series 1978, of Salt Lake City, Utah, and providing for the
running of a contest period.
Yours truly.
744:10441 41r "VOA'S
City Recorder '
ms
CC:
Auditor Treasurer
Attorney Airport
Burrows, Smith
Mayor Wilson
Comm.Agraz
Comm.Greener
Comm.Hall
Files
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of
Section 11-14-21,Utah Code Annotated,1953,as amended.that on
October
Saoth Salt ill County,
Utah,
the bid f Salomon Lake City,
Merr �yWhileWd
Inc.Cap,}Fosl terrkMarsts halluInc.,Eahrlloh-Boberr &Cold Inc.Organization
E.
Curvin,Gorsetman&Co.,Scandinavian Sec.Inc.,E.A.Moos,for
the SaltpLake Circhase ty$
Ut�'dated`Novvert mber 1,venue Bonds,Series
trhe price of
S36.630,537.90,resultIng In a discount of S369,462.10 from the par
amount of the bonds.Said purchaser made a good faith deposit Of
S740,000 in connection with its bid.
esoluuttiAirport
s of they and of CommissionersrSeries
ltL keCity duly
adopted on October 17.1978.are to be Issued for the purpose of
International Airport and Airport No.
No 2,owned by Salt San L k Ctt
ity,
and iuuan�cetof the revenue bboonds,and bear to
and`mature
on November I o1 each of the years and In the amounts as
llows:
Year Amount Int Year Amount RatRatee
.7
1983 5 755A00 7.00 1994 11,700,000 6.10
1984 860500 7.00 1995 1,820,000 6.10
1915 925,000 7.00 1996 1,950,000 6.10
1985 n5,000 6.90 1997 2,085.000 6.10
1937 060,000 6.10 1991 2ABS.00 6.10
1988 1,133,000 6.10 1999 2,385500 6.102
1989 1,115,000 6.10 1999 2,555.000 6.20
1990 1,315,000 6.10 200 2775,400 6.20
19901 1,390,000 6.10 2001 2,925.000 5.00
1992 1,390,000 6.10 2003 3.105,000 5.00
1Co 1A115,esolutio 6u0 d0W 3.1dopne 00 StO
Copies of oard Numbered Si and 82 0f tl on heOctoberCity
17,u authorizing
by the Board of Commissioners of Salt the a 000
describedq 7,0 i,00 Airport
and even a Bo the sale o1 the above
described the office1A001 t e City Revenuef he CSeries eCI areon
le the maof the examined Recorder of ao la City,In the Ch urs of
where they ory beerom8:0 010011 regular b0:0 o'clock
hors O.
he resolutions
Recorder sh shall
be so available
ilable A.M.ta 5:00 or ape F.M.
Said
Ileast thirrtyn(30)days from and after date of the publican.at
this notice.
NOTICE IS FURTHER GIVEN that pursuant to law for a
period of thirty(30)days from end after the date of the
publication of this notice,any person in Interest shall have the
the Board of Cotmmiselloners of of the
Lake City adopted onuOccttober
theme City autMtized Airportthherey Revenue provisions aladdee for
time,
payment l a a any cause bonds,
Ion that
contest the
the
regularity,formality or legality thereof for any cause what.
soeDATED this 17th tlay of October,1978.
/s/Mildred V.Hlnham
Citye Recorder,a i Utah
PEAL
ohila1fed October 19,1978 1 D-531
Mailed & Distributed October 27, 1978 je
Salt Lake City, Utah
October 17, 1978
The Board of Commissioners of Salt Lake City,
Salt Lake County, Utah, met in regular public session at its
regular meeting place in Room 301, in the City and County
Building in Salt Lake City, Utah, at 10:00 o'clock A.M. on
the 17th_ day of October, 1978, with. Ted L. Wilson, Mayor,
presiding. At the direction of the Mayor, the roll of the
board was called with the following result:
Ted L. Wilson, Mayor
Glen N. Greener, Commissioner
Thomas L. Hall, Commissioner
Jennings Phillips, Jr. , Commissioner
Absent:
Jess A. Agraz, Commissioner
Also present were Mildred V. Higham, City Recorder,
and Roger F. Cutler, City Attorney.
After the meeting had been duly called to order and
the minutes of the preceding meeting read and approved, the
City Recorder presented to the board an affidavit evidencing
the giving of not less than twenty-four (24) hours public
notice of the agenda, date, time and place of the October 17,
1978, meeting in compliance with the requirements of Section
52-4-6(2), Utah Code Annotated, 1953, as amended, by (1)
posting written notice of the meeting at the principal office
of the board and (2) providing notice to at least one newspaper
of general circulation within the geographic Jurisdiction of
Salt Lake City, Utah, or to a local media correspondent. The
af:idavit was ordered recorded in the minutes of the meeting and
is as follows:
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STATE OF UTAH
COUNTY OF SALT LAKE )
I, the undersigned, the duly qualified and acting
City Recorder of Salt Lake City, Salt Lake County, Utah, do
hereby certify, according to the records of said city in my
official possession, and upon my own knowledge and belief, that
in accordance with the requirements of Section 52-4-6(2),
Utah Code Annotated, 1953, as amended, I gave not less than
twenty-four (24) hours public notice of agenda, date, time and
place of the October 17, 1978, regular public meeting held by
the Board of Commissioners of Salt Lake City, Salt Lake County,
Utah, by:
(a) causing a Notice of Public Meeting to be posted at
the principal office of the board at Room 200 in the City and
County Building, in Salt Lake City, Utah, on October' 16,
1978, at least twenty-four (24) hours before the convening of
the meeting, in the form attached hereto as Exhibit A; said
Notice of Public Meeting having continuously remained so posted
and available for public inspection during the regular office
hours of the board until the convening of the meeting; and
(b) causing a copy of the Notice of Public Meeting in the
form attached hereto as Exhibit A to be provided on October j,
1978, at least twenty-four (24) hours before the convening of
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the meeting, to The Deseret News , a newspaper of general
circulation within the geographic jurisdiction of Salt Lake
City, and to each local media correspondent, newspaper, radio
station or television station which has requested notification
of meetings of the Board of Commissioners.
IN WITNESS WHEREOF, I have hereunto subscribed my
official signature and impressed hereon the official seal of
Salt Lake City, Salt Lake County, Utah, this 17th day of
October, 1978.
City Recorder, Salt Le City,
Salt Lake County, Ut
[AFFIX SEAL HERE]
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EXHIBIT A
NOTICE OF MEETING OF THE
BOARD OF COMMISSIONERS OF
SALT LAKE CITY, UTAH
PUBLIC NOTICE is hereby given that the Board of Commissioners
of Salt Lake City, Utah, will hold a meeting in Room 301 in
the City and County Building in Salt Lake City, commencing
at 10:00 o'clock a .m. on October 17, , 1978 .
The Agenda for the meeting consists of the following:
BID OPENING SCHEDULED FOR 10:30 A.M.
Sealed bids for the Purchase of $37,000,000 Airport Revenue Bonds, Series 1978, Salt Lake City.
Consideration and Adoption of the Master Resolution relating to the Salt Lake City, Utah
Airport Revenue Bonds.
Consideration and Adoption of the Supplemental Resolution confirming the Sale of the $37,000,000
Salt Lake City, Utah Airport Revenue Bonds Series 1978, fixing the interest rates on the Bonds,
and making other provisions in connection with The Series 1978 Bonds.
Consideration and Adoption of a Resolution providing for the publication of a Notice of Bonds to
be Issued with respect to $37,000,000 Airport Revenue Bonds, Series 1978, of Salt Lake City,
Utah,and providing for the running of a contest period.
DATED: October 16, 1978
7--
BY: /47:4-G( tIC,
li
STATE OF UTAH
ss.
County of Salt Lake )
On the 16th day of October , 19 78 , I personally
delivered a copy of the foregoing notice to each membet of the
Board of City Commissioners and posted copies of the same in con-
spicuous view, at the following times and locations within the
City and County Building, Salt Lake City, Utah:
(1) At 9:30 o'clock a .m. in the City Recorder's
office, Room 200; and
(2) At 9:40 ' o'clock a .m. in the newsroom in
Room 301.
fire ,lid-!(•, ', •.'�K-fill_'�(L�i+ice _
Subscribed and sworn to before me this 16th day of
October , 19 78 .
NOTARY PUBLIC, Residing in
Salt Lake County, Utah
My Commission Expires:
f-%- i'/
Thereupon, after the conduct of other business,
the Mayor stated that one purpose of the meeting was to open
the sealed bids which had been received up to 10:30 o'clock
A.M., for the purchase of $37,000,000 Airport Revenue Bonds,
Series 1978, of the City.
The City Recorder then presented to the Board of'
Commissioners the sealed bids for the purchase of the Airport
Revenue Bonds, Series 1978, which had been received, which
bids were opened and found to be as follows:
NAME QF BIDDER PRICE NET INTEREST COST
Salomon Brothers 99 $37,786,002.10
and Associates (5.9649%)
Smith Barney, Harris Upham 99 $37,928,174.05
& Co., Inc. and Associates (5.9873%)
Bache Halsey Stuart Shields 99 $38,513,425.00
Incorporated and Associates (6.0797%)
First Boston Corp. & 99 $38,369,465.65
Associates (6.0570%)
—6—
•
After due deliberation it was determined that the bid
of Salomon Brothers of
New York , New York , and associates, was the highest
and best bid submitted for the purchase of $37,000,000 Airport
Revenue Bonds, Series 1978, of the City, said bid being in full
as follows:
OFFICIAL BID FORM
$37,000,000
AIRPORT REVENUE BONDS
SERIES 1978
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
October 17,1978
Board of Commissioners
City and County Building
Room 301
Salt Lake City,Utah 84111
Gentlemen:
For S37,000,000 par value Airport Revenue Bonds, Series 1978, of Salt Lake City, dated
November 1, 1978 and maturing serially on November 1, 1982 through November 1. 2003 in the
2603"^'° �'^"'^ t ""'"' ..ovahla M ag,l.Ul A49 and camia77�t thereafter on the first
O V 833470
1
queptsead eoTA aueosTssy
LEM$u'CivaH ptnsG •M
?IMVB 'WSIOIJXR LS3III3 SI'IOIZ 6g
-7-
The following resolution was thereupon introduced
in written form byMayor Ted L. Wilson, was read in full, and
pursuant to motion made by Jennings Phillips,Jrand seconded by
Thomas L. Hall , was adopted by the following vote:
Aye: Ted L. Wilson, Mayor
Jennings Phillips, Jr. Commissioner
Thomas L. Hall, Commissioner
Glen N. Greener, Commissioner
Nay: None.
The resolution was then signed by the Mayor in open
meeting and recorded by the City Recorder. The resolution
is as follows:
(See Resolution No. 81 of 1978 - Master Resolution relating to Airport
Revenue Bonds).
-8-
•
The following resolution was thereupon introduced
in written form byMayor Ted L. Wilson, was read in full, and
pursuant to motion made by Jennings Phillips,3rand seconded by
Thomas L. Hall , was adopted by the following vote:
Aye: Ted L. Wilson, Mayor
Jennings Phillips, Jr. Commissioner
Thomas L. Hall, Commissioner
Glen N. Greener, Commissioner
Nay: None.
The resolution was then signed by the Mayor in open
meeting and recorded by the City Recorder. The resolution is
as follows:
(See Resolution No. 82 of 1978 - Supplemental Resolution confirming the Sale of
the $37,000,000 Salt Lake City, Utah Airport Revenue Bonds, Series 1978, fixing
the interest rates on the bonds.)
-9-
The following resolution was thereupon introduced
in written form by Ted L. Wilson , was read in full, and
pursuant to motion made by Jennings PhilliosJr, and seconded by
Thomas L. Hall , was adopted by the following vote:
Aye: Ted L. Wilson
Jennings Phillips, Jr.
Thomas L. Hall
Glen N. Greener
Nay: None.
The resolution was then signed by the Mayor in open
meeting and recorded by the City Recorder. The resolution is
as follows:
RESOLUTION NUMBER 83
A RESOLUTION providing for the publication of a
Notice of Bonds to be Issued with respect to $37,000,000
Airport Revenue Bonds, Series 1978, of Salt Lake City,
Utah, and providing for the running of a contest period.
BE IT AND IT IS HEREBY RESOLVED by the Board of
Commissioners of Salt Lake City, Salt Lake County, Utah, as
follows:
Section 1. That in connection with the issuance of
$37,000,000 Airport Revenue Bonds, Series 1978, of Salt Lake
City, Utah, authorized pursuant to Resolutions Numbered R1
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•
and 89 adopted on October 17, 1978, and in accordance with
the provisions of Section 11-14-21, Utah Code Annotated, 1953,
as amended, the City Recorder shall cause a "Notice of Bonds to
be Issued" to be published one time in The Deseret News
a newspaper published and of general circulation in the City,
and to cause a copy of this resolution to be kept on file in
her office for public examination during regular business hours
until at least thirty (30) days from and after the date of
publication thereof.
Section 2. That the "Notice of Bonds to be Issued"
shall be in substantially the following form:
NOTICE OF BONDS TO BE'ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of
Section 11-14-21, Utah Code Annotated, 1953, as amended,
that on October 17, 1978, Salt Lake City, Salt Lake County,
Utah, accepted the bid of (_see attached list)
for the purchase of $37,000,000
Airport Revenue Bonds, Series 1978, of Salt Lake City,
Utah, dated November 1, 1978, at the price of $36,630,537.90 ,
resulting in a discount of $369,462.10from the par amount of
the bonds. Said purchaser made a good faith deposit of
$740,000 in connection with its bid.
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accepted the bid of:
Salomon Brothers
Merrill Lynch White Weld Capital Markets Group
Dean Whitter Reynolds Organization Inc.
Foster Marshall Inc.
Ehrlich-Bober & Co. Inc.
Ronald E. Curvin, Gorsetman & Co.
Scandinavian Sec. Inc.
E. A. Moos
The Airport Revenue Bonds, Series 1978, pursuant to
resolutions of the Board of Commissioners of Salt Lake
City duly adopted on October 17, 1978, are to be issued
for the purpose of acquiring improvements and extensions
to Salt Lake City International Airport and Airport No. 2,
owned by Salt Lake City, and payment of costs incident
thereto and to the authorization and issuance of the
revenue bonds, and bear interest and mature on November 1
of each of the years and in the amounts as follows:
YEAR AMOUNT INTEREST RATE YEAR AMOUNT INTEREST RATE
1982 $ 755,000 7.00% 1993 $1,590,000 6.10%
1983 810,000 7.00 1994 1,700,000 6.10
1984 865,000 7.00 1995 1,820,000 6.10
1985 925,000 7.00 1996 1,950,000 6.10
1986 990,000 6.90 1997 2,085,000 6.10
1987 1,060,000 6.10 1998 2,230,000 6.10
1988 1,135,000 6.10 1999 2,385,000 6.20
1989 1,215,000 6.10 2000 2,555,000 6.20
1990 1,300,000 6.10 2001 2,725,000 6.20
1991 1,390,000 6.10 2002 2,925,000 5.00
1992 1,485,000 6.10 2003 3,105,000 5.00
Copies of Resolutions Numbered 81 and 82
adopted on October 17, 1978, by the Board of Commissioners
of Salt Lake City authorizing the issuance and confirming
the sale of the above described $37,000,000 Airport Revenue
Bonds, Series 1978, are on file in the office of the City
Recorder of the City, in the City Hall, where they may be
examined during regular business hours of the City Recorder
from 8:00 o'clock A.M. to 5:00 o'clock P.M. Said resolu-
tions shall be so available for inspection for a period
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•
of at least thirty (30) days from and after date of the
publication of this notice.
NOTICE IS FURTHER GIVEN that pursuant to law for a
period of thirty (30) days from and after the date of the
publication of this notice, any person in interest shall
have the right to contest the legality of the above
described resolutions of the Board of Commissioners of
Salt Lake City adopted on October 17, 1978, or the
$37,000,000 Airport Revenue Bonds, Series 1978, of the
City authorized thereby, or any provisions made for the
security and payment of such revenue bonds, and that after
such time, no one shall have any cause of action to contest
the regularity, formality or legality thereof for any cause
whatsoever.
DATED this 17th day of October, 1978.
City Recorder,
Salt Lake City, Utah
[SEAL]
Section 3. That for a period of thirty (30) days
after publication of the Notice of Bonds to be Issued, any
person in interest shall have the right to contest the legality
of Resolutions Numbered 81 or 8z , or of the revenue bonds
thereby authorized or any provisions made for the security
and payment of the revenue bonds. After such time, no one
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shall have any cause of action to contest the regularity,
formality or legality of Resolutions Numbered 81 and 82
or the revenue bonds for any cause whatever.
Section 4. That this resolution shall become
effective immediately upon its adoption.
PASSED AND APPROVED by the Board of Commissioners
of Salt Lake City, Salt Lake County, Utah, this 17th day of
October, 1978.
Attest:
City Recorder
(Other business not pertinent to the above appears
in the minutes of the meeting.)
Upon motion duly made and carried, the meeting was
adjourned.
Attest: y/ M or
City Recorder
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STATE OF UTAH
)
COUNTY OF SALT LAKE )
I, Mildred V. Higham, the duly qualified and acting
City Recorder of Salt Lake City, Salt Lake County, Utah, do
hereby certify, according to the records of said city in my
official possession that the above and foregoing constitutes
a true and correct copy of excerpts from the minutes of the
regular meeting of the Board of Commissioners of Salt Lake
City held on October 17, 1978, including Resolutions Numbered
81 , 82 and 83 , adopted at said meeting, as said minutes
and resolutions are officially of record in my possession.
I further certify that in accordance with the
provisions of Resolution Number 83 , on October 17, 1978, I
caused a true and correct copy of the above referred to
resolution to be filed in my office for examination by any
interested person during the regular business hours of my
office.
IN WITNESS WHEREOF, I have hereunto subscribed my
official signature and impressed hereon the corporate seal of
said Salt Lake City, Utah, this //t day of ((r,/'- , 1978.
Cityy Recorder
r
[SEAL]
PHH:er
9/22/78 -15-
_ A
Resolution No. 83
By Jennings Phillips, Jr.
COMMISSIONER
Providing for the publication of a Notice
of Bonds to be Issued with respect to
$37,000,000 Airport Revenue Bonds,
Series 1978, of Salt Lake City, Utah,
and providing for the running of a contes
period.
Presented to the bard of Commissioner%
AND PASSED
OCT 1. ? 1973 •
.>/a44.4e x.„34;04-ki
CITY RECOP,
•