01-23-92SpMtg JANUARY 23, 1992
A Special Meeting of the City Commission of the City of Delray
Beach, Florida, was called to order by Mayor Thomas E. Lynch in the
Commission Chambers at City Hall at 1:40 P.M., Thursday, January 23,
1992.
Roll call showed:
Present - Commissioner Jay Alperin
Commissioner Armand Mouw
Commissioner David Randolph
Mayor Thomas E. Lynch
Absent - Commissioner William Andrews
Also present were - Assistant City Manager John Elliott and
City Attorney Jeffrey S. Kurtz
Mayor Lynch called the meeting to order and announced that this
meeting has been called for the purpose of considering the adoption of
Resolutions No. 17-92 and 18-92.
David Levy, representing Smith Barney Harris Upham & Company,
Inc., briefly described the process involved in the refundings of the
Series 1980 and 1985 General Obligation Bonds and all of the City's
outstanding Utilities Tax Bonds. He introduced Lavon Wisher, of Public
Financial Management, the City's financial adviser, who pointed out a
number of favorable things that resulted, in addition to saving money
for the City. She stated they are pleased to recommend to the Commis-
sion that they enter into the Bond Purchasing Agreement and award the
bids of both issues to Smith Barney and the other members of the under-
writers.
1. Resolution No. 17-92. Resolution No. 17-92, authorizing the
negotiated sale of General Obligation Refunding Bonds, Series 1992, in
an amount not to exceed $6.5 Million and providing for certain details
and certain other provisions of the bond authorizing resolution, is
before the Commission for consideration.
Mr. Randolph moved for the adoption of Resolution No. 17-92,
seconded by Mr. Mouw. Upon roll call the Commission voted as follows:
Mr. Mouw - Yes; Dr. Alperin - Yes; Mr. Randolph - Yes; Mayor Lynch -
Yes. Said motion passed with a 4 to 0 vote.
2. Resolution No. 18-92. Resolution No. 18-92, authorizing the
negotiated sale of $20 Million Utilities Tax Revenue Refunding and
Improvement Bonds, Series 1992, and providing for certain details and
certain other provisions of the bond authorizing resolution, is before
the Commission for consideration.
Mr. Mouw moved for the adoption of Resolution No. 18-92,
seconded by Dr. Alperin. Upon roll call the Commission voted as
follows: Dr. Alperin - Yes; Mr. Randolph - Yes; Mayor Lynch - Yes; Mr.
Mouw - Yes. Said motion passed with a 4 to 0 vote.
Mayor Lynch declared the meeting adjourned at 1:50 P.M.
~ -Cit~ Clerk
ATTEST:
The undersigned is the City Clerk of the City of Delray Beach
and that the information provided herein is the minutes of the meeting
of said City Commission of January 23, 1992, which minutes were formally
approved and adopted by the City Commission on ~~,/__ ~, /~
.... J Cit~v C~rk ~
NOTE TO READER:
If the minutes that you have received are not completed as indicated
above, then this means that these are not the official minutes of City
Commission. They will become the official minutes only after they have
been reviewed and approved which may involve some amendments, additions,
or deletions to the minutes as set forth above.
-2- 1/23/92