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RES 1995-2329 - Lease revenue bonds, Omaha Park Four and Park Five - 0tAAHA,4,4, ' - v.o /g. { J ' 1 , v. ritC 95 o .,ry Ail U i f OR'TED FEBRJr�y Honorable President CITY C L EPJt �, City of Omaha 7� ,ri ; j•�[r,�' ,q it Hal Daub,Mayor ` "• _'• .) and Members of the City Council, - • • Finance Department = Omaha/Douglas Civic Center : 1 1819 Farnam Street,Suite 1004 Omaha,Nebraska 68183-1004 Presented for your consideration is a resolution approving the "issuane of (402)444-5416 $8,475,000 of Lease Revenue Bonds (Omaha Park Four and Omaha Park Five) Telefax(402)444-5423 by the Omaha Parking Facilities Corporation. - • r..r tJ r-1 Louis A.D'Ercole Acting Director The Bonds are dated September 15, 1995, are in fully registered form without coupons, are issuable in the denomination of$5,000 or any integral multiple thereof, and mature on September 15 in each of the years and in the principal amounts,and bear interest payable March 15, 1996, and semi-annually thereafter on March 15 and September 15, at the rate per annum, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1996 $ 270,000 3.70% 2004 $ 375,000 4.65% 1997 280,000 3.85% 2005 390,000 4.75% 1998 290,000 4.00% 2006 410,000 4.85% 1999 300,000 4.10% 2007 430,000 5.00% 2000 315,000 4.20% 2008 450,000 5.10% 2001 330,000 4.35% 2009 475,000 5.20% 2002 345,000 4.45% 2010 500,000 5.30% 2003 360,000 4.55% 2015 2,955,000 5.70% The Bonds are subject to redemption prior to maturity upon terms and conditions and at the prices, and are transferable, as set forth in the Preliminary Official Statement dated September 12, 1995. Respectfully submitted, •s -- -‘1.-t-Ct Louis A. D'Ercole Acting Finance Director P:\FIN\2323.5KZ 0 ti ti C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha, Nebr 19 RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: WHEREAS,the City Council of the City of Omaha passed Ordinance No. 33635 on September 12, 1995, authorizing and approving the formation of City of Omaha Parking Facilities Corporation(the "Corporation")for the purpose of assisting the City of Omaha(the "City")with the acquisition, construction,furnishing and equipping of public parking facilities within the geographical boundaries of the City of Omaha,Nebraska; and WHEREAS,the Corporation is willing to (i)issue its Lease Revenue Bonds (Omaha- Park Four and Omaha-Park Five Projects) Series 1995, in the aggregate principal amount of $8,475,000 (the "Bonds"), on behalf of the City, the proceeds of which will be used, in part, to acquire, construct, furnish and equip two public parking garages (the "Projects") to be located on certain parcels of real estate owned by the City and located within the geographical boundaries of the City of Omaha,Nebraska; and • WHEREAS, the City will enter into a Lease-Purchase Agreement dated as of September 1, 1995 (the "Agreement")with the Corporation pursuant to which the City will lease the Projects from the Corporation and pay rental payments to the Corporation in amounts sufficient to enable the Corporation to make scheduled payments of principal of and interest on the Bonds; and WHEREAS, it is in the best interests of the City that the Corporation issue its Bonds and apply the proceeds thereof to the acquisition, construction, furnishing and equipping of the Projects, and that the City cooperate to that end with the Corporation by approving the terms of the Bonds. NOW THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT,the City Council does hereby approve the issuance by the Corporation of the Bonds in the principal amount of$8,475,000 and bearing interest at the rates per annum and maturing. in the principal amounts on September 15 in the years as follows: By Councilmember Adopted ity Clerk Approved.. I PP _•- Mayor C-25A • • CITY OF OMAHA LEGISLATIVE CHAMBER Omaha, Nebr 19 PAGE 2 Maturity Date Principal September 15) Amount Interest Rate 1996 $ 270,000 3.70% 1997 280,000 3.85% 1998 290,000 4.00% 1999 300,000 4.10% 2000 315,000 4.20% 2001 330,000 4.35% 2002 345,000 4.45% 2003 360,000 4.55% 2004 375,000 4.65% 2005 390,000 4.75% 2006 410,000 4.85% 2007 430,000 5.00% 2008 450,000 5.10% 2009 475,000 5.20% 2010 500,000 5.30% 2015 2,955,000 5.70% APPROVED AS TO FORM: .7./ / ASSIST CITY . ORNEY P.\FIN\2318.SKZ By. 4 i Councilmember Adopted.... EP 19 995 7 ity Cler Approved r9------"— Mayor 1 0 .,,, W). 5 •'b 5 o I 0 CD "O 0 CD ' r � O Ad GO O- r+ O n 'V ew O it t< O C ( CCDD 0 �' © n CD 00 " 1 n \ 1 C•a v' N O COD rT c, C) CD `-1 M '-t • ----7 ''' ' ,_ ... r •• . _.,..,..., , , ,.. . , ,. , t_. ..,:i. . . • . . .. ., • ,.