1239RESOLUTION NO.1239
A RESOLUTION of the City of Moses Lake,
Washington,approving a schedule of Acquired
Obligations to be purchased to carry out a
plan of refunding of the outstanding water
and sewer revenue bonds of the city as pro
vided in Ordinance No.1184.
\j WHEREAS,by Ordinance No.1184 (the "Ordinance")passed by
[i the City Council of the City of Moses Lake,Washington,(the
[^J "City")on October 8,1985,the City Council authorized the
issuance of $6,120,000 principal amount of Water and Sewer
Revenue Refunding Bonds,1985 (the "Bonds")for the purpose of
refunding all of the outstanding water and sewer revenue bonds of
the City;and
WHEREAS,the proceeds of the Bonds are directed by the
Ordinance to be deposited into an escrow fund and used to pur
chase certain United States government obligations as approved by
resolution of the City Council (the "Acquired Obligations")to
carry out the plan of refunding;NOW,THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MOSES
LAKE,WASHINGTON,AS FOLLOWS:
Section 1.Acquired Obligations.The City Council hereby
finds and determines that the United States government obliga
tions described as to type,principal amount,maturity and
interest rate set forth in schedule of Acquired Obligations
attached to this resolution as Exhibit A,which by this reference
is incorporated herein,should be purchased at the prices set
forth in said Exhibit A to accomplish the refunding plan set
forth in the Ordinance and authorizes and directs the City
Manager to take appropriate action to incorporate said schedule
in the Safekeeping Agreement authorized by the Ordinance.
Section 2.Modification in Schedule.In the event that
any modifications in said schedule of Acquired Obligations is
necessary to obtain verification by an independent certified
public accountant that the escrow established under the Safe
keeping Agreement is sufficient to refund all of the outstanding
water and sewer revenue bonds of the City in accordance with the
refunding plan approved by the Ordinance or to meet the require
ments of Section 103 of the Internal Revenue Code of 1954,as
amended,and applicable regulations thereunder,the City Manager
is authorized and directed to make or approve such modifications.
ADOPTED by the City Council and signed by its Mayor at a
regular open public meeting on October 22,1985.
i!
ATTEST
CITY CLERK
APPROVED AS TO FORM:
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City of Moses Lake,Washington
EXHIBIT A
to
Resolution No.1239
s
HATURITY PAR
TYPE DATE COUPON AH0UMT PRICE COST
SL6S 1/1/06 7.000000 193,000 100.000000 193,000.00
SL6S 7/1/86 7.410000 178,400 100.000000 178,400.00
SLGS 11/1/86 7.740000 74,900 100.000000 74,900.00
SL6S 1/1/87 7.900000 20,100 100.000000 20,100.00
SL6S 7/1/87 8.370000 181,200 100.000000 181,200.00
SL6S 11/1/87 8.640000 83,100 100.000000 83,100.00
SLGS 1/1/88 8.730000 21,800 100.000000 21,800.00
SL6S 7/1/BB 8.930000 189,200 100.000000 189,200.00
SL6S 11/ 1/88 9.060000 89,300 100.000000 89,300.00
SL6S 1/1/89 9.120000 23,800 100.000000 23,800.00
SL6S 7/ 1/89 9.300000 197,800 100.000000 197,800.00
S13S 11/1/89 9.380000 96,000 100.000000 96,000.00
SL6S 1/1/90 9.410000 26,200 100.000000 26,200.00
SL6S 7/1/90 9.490000 208,300 100.000000 208,300.00
SL6S 11/1/90 9.540000 102,800 100.000000 102,800.00
SL6S 1/1/91 9.570000 29,000 100.000000 .29,000.00
SL6S 7/1/91 9.680000 972,300 100.000000 972,300.00
SL6S 11/1/91 9.760000 124,800 100.000000 124,800.00
SL6S 1/1/92 9.800000 17,700 100.000000 17,700.00
SLBS 5/1/92 9.890000 2,400 100.000000 2,400.00
SLGS 7/1/92 9.930000 118,600 100.000000 118,600.00
SL6S 11/1/92 9.990000 132,500 100.000000 132,500.00
SLGS 1/1/93 10.000000 19,900 100.000000 19,900.00
SLBS 5/1/93 10.020000 5,500 100.000000 5,500.00
SL6S 7/1/93 10.030000 125,800 100.000000 125,800.00
SLBS 11/1/93 10.050000 145,800 100.000000 145,800.00
SL6S 1/1/94 10.060000 22,200 100.000000 22,200.00
SLBS 5/ 1/94 10.070000 9,200 100.000000 9,200.00
SL6S 7/1/94 10.080000 2,449,100 100.000000 2,449,100.00
SLGS 11/1/95 10.140000 5,500 100.000000 5,500.00
SLGS 5/1/96 10.170000 6,300 100.000000 6,300.00
SL6S 11/1/96 10.190000 1,700 100.000000 1,700.00
SL6S 5/1/97 10.210000 2,100 100.000000 2,100.00
SLGS 11/1/97 10.230000 2,100 K0.000000 2,100.00
SUBTOTAL 5,878,400 5,878,400.00
Page 1 of 2
ACCRUED TOTAL
INTEREST COST
0.00 193,000.00
0.00 178,400.00
0.00 74,900.00
0.00 20,100.00
0.00 181,200.00
0.00 83,100.00
0.00 21,800.00
0.00 189,200.00
0.00 89,300.00
0.00 23,800.00
0.00 197,800.00
0.00 96,000.00
0.00 26,200.00
0.00 20B,300.00
0.00 102,800.00
0.00 29,000.00
0.00 972,300.00
0.00 124,800.00
0.00 17,700.00
0.00 2,400.00
coo i18,600.00
0.00 132,500.00
0.00 19,900.00
0.00 5,500.00
0.00 125,800.00
0.00 145,800.00
0.00 22,200.00
0.00 9,200.00
0.00 2,449,100.00
0.00 5,500.00
0.00 6,300.00
0.00 1,700.00
0.00 2,100.00
0.00 2,100.00
0.00 5,878,400.00
SLGS =United States Book Entry Obligations -State and Local
Government Series
City of Moses Lake,Washington
EXHIBIT A
to
Resolution No.1239
Page 2 of 2
HATURITY PAR ACCRUED TOTAL
TYPE DATE COUPON AH0UNT PRICE COST INTEREST COST
TSTR 5/15/94 0.000000 590,000 40.649000 239,829.10 0.00 239,329.10
TSTR 8/15/94 0.000000 160,000 39.497000 63,195.20 0.00 63,195.20
TSTR 8/15/95 0.000000 60,000 36.393000 21,835.80 0.00 21,835.80
TNOTE 8/15/95 10.500000 95,000 101.000000 95,950.00 1,680.57 97,630.57
TSTR 8/15/96 0.000000 170,000 32.004000 54,406.80 0.00 54,406.80
TSTR 8/15/97 0.000000 80,000 28.328000 22,662.40 0.00 22,662.40
SUBTOTAL 1,155,000 497,879.30 1,680.57 499.S59.S7
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TSTR =United States Treasury Bonds,stripped of coupons
TNOTE =United States Treasury Note