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HomeMy WebLinkAboutSupplemental Information - Redevelopment Agency of the City of Seal BeachDecember 27, 2000 Ms. Teresa Frucmoso BNY Western Trust Company 700 South Flower Street, Suite 500 Los Angeles, CA 90017 RE: $8,520,000 Redevelopment Agency of the City of Seal Beach Tax Allocation Refunding Bonds, 2000 Series A (Riverfront Redevelopment Project) Dear Ms. Fructuoso: $685,000 Redevelopment Agency of the City of Seal Beach Subordinate Tax Allocation Bonds, 2000 Series B (Riverfront Redevelopment Project) Pursuant to Sections 5.07 of those certain Indentures, dated as of December I, 2000 (the "Series A Indenture", the `Series B Indenture, and collectively, the `Indentures"), by and between the Redevelopment Agency of the Citv of Seal Beach (the "Agency') and BNY Western Trust Company, as Trustee (the "Trustee"), the undersigned hereby authorizes and directs the Trustee to enter into that certain Investment Agreement, dated as of December 29, 2000, by and among the Trustee, the Agency and AIG Matched Funding for the f.,vcstmcm of the aeries A desirve Account and Series B Reserve Account. Sincerely, REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH Donald F. Mchnyrc Executive Director cc : Rosa Schulte, Fieldman, Rolapp Financial Services, LLC Scott Baldridge, Sutro & Co. Incorporated Patti Gorczyca. PMG Financial Consulting William K. Kramer, Esq., Richards, Watson & Gershon December 27, 2000 Ms. Teresa Frucumso BNY Western Trust Company 700 South Flower Street, Suite 500 Los Angeles, CA 90017 RE: $8,520,000 Redevelopment Agency of the City of Seal Beach Tax Allocation Refunding Bonds, 2000 Series A (Riverfront Redevelopment Project) WIRING INSTUCTIONS Dear Ms. Fructuoso: $685,000 Redevelopment Agency of the City of Seal Beach Subordinate Tax Allocation Bonds, 2000 Series B (Riverfront Redevelopment Project) The Redevelopment Agency of the City of Seal Beach (the "Agency') requests that the "bond proceeds" ($3.526,765.11) be electronically—transferred today, December 27, 2000, to the following account, using these wiring instructions: Bank of America City of Seal Burch Acct# 01325-80203 ABA Routing # 121000358 Sincerely, REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH Donald F. MclM re Executive Director cc: Rosa Schulte, Ficldntan. Rolapp Financial Services, LLC Scott Baldridge, Suno & Co. Incorporated Patti Gorczcci, PMG Financial Consulting William K. Kramer, Esq., Richards. Watson & Gershon A utr.u�o�u.d,,. r DEC 25 2000 12:17 FR SUTRO PUBLIC F148NCE 213 624 5263 TO 15624939857 ..4M. s FAX COVER SHEET P.0"5 DATE: December 25, 2000 NUMBER OF PAGES (including cover): 5 TO: Name Agency/Company Fax Number Pamela Arends-King City of Seat Beach (562)439.9857 Patti Gorczyca PMG Financial Consulting 714 974-9455 William K. Kramer Richards, Watson & Gershon 213 626-0078 Teresa Fmctuoso BNY Western Trust Department 213 630-6210 Gonzalo Urey U.S. Bank Trust N.A. 213 533-8777 Judie Lau Sutro & Co. Incorporated 415 445-8219 Sent by Patrick Wright, Associate Public Finance Department 555 South Flower Street Suite 3400 Los Angeles, California 90071 Telephone: (213) 362-4138 Facsimile: (213) 624-5263 Please find attached a draft closing memorandum for the Tax Allocation Refunding Bonds, 2000 Series A & B. Please call Scott Baldridge at (213) 3624113 with any comments or questions. PLEASE NOTE: The infomam n conmined in this ftuaimile tmnsmission la Intended an be amt only to the suedrteiPiem orfor oansmesion and my contain information that is confidential, privilcgal or otherwise mourned from disclosure undo applicable low. If the reader of this maeeae is not the intended recipient or the regarded recipient's agent, you are hereby notified that any dissemination, dianbudon m copying of the infnrmetien contained in this facsimile transmission is prohibited. You art tuner asked to notify us of the error as soon as possible at the telephone number shown above and to return the facsimile documents to us immediately by mail at the address shown above. Thank you for your coopanlion. DEC -25-2000 12:12 213 624 5263 98% P.01 DEC 25 2000 12:17 FR SUTRO PUBLIC FINANCE 213 624 5263 TO 15624939857 CLOSING MEMORANDUM TO: Distribution Lin FROM: Scott Baldridge (213)362.4113 Patrick Wright (213)3624116 Surra & Co. Incorporated DATE: 12/25/00 RE: Closing Procedures for $8,520,000.00 2000 Series A $685,000.00 2000 Series B Redevelopment Agency of the City of Seal Beach Tex Allocation Refunding Bonds, 2000 Series A & B CLOSING INFORMATION Closing Date & Time: Wednesday December 27, 2000 PDT - 8:00 a.m. Location: Richards, Watson & Gershon 333 S. Hope Street, 38th Floor Contact: Bond Deliverylnsm cdcris: Book-Bntry-0niy Depository Trust Company 55 Water Simon New York, NY 10041 Acct #: 30 Wexford Clearing Services Corp. Page I P. 02/05 William Kremer, Esq. (213)626-8484 DEC -25-2000 12:12 213 624 5263 98% P.O2 DE,: 25 2000 12:18 FR SUTRO PUBLIC FINANCE 213 624 5263 TO 15624939857 P. 03/05 r ss. SOURCES Par Amount O $9,205,00000 Original Issue Premium (7479715) Accrued Interest 0.00 Prior Reserve Funds and other Funds held by the Escrow Agent 623,658.08 TOTALSOURCES $9,753,866.93 USES: GLA N 111-565 Refunding Escrow Deposit 5,214,439.32 Accrued Interest 0.00 Underwriters Discount 138,075.00 2000 Series A Debt Service Reserve Fund 676,582.50 2000 Series B Debt Service Reserve Fund 64,155.00 Costs of Issuance 133,850.00 Project Fwds 3,526,765.11 TOTAL USES $3,526,765.11 59,753,866.93 The following must lake place prior to closing (1) The Escrow Agent will transfer all funds from the Agency's 1986 and 1991 Tax Allocation Bond $623,658.08 Financings to the Escrow Account (2) Su" will wire the Net Bond Proceeds to the Trustee $8,992,133.85 Wire Transfer Instructions The Bank of New York ABA M 021 000 018 GLA N 111-565 T/A 6 329293 REF: Seal Beach 200DA/B Bit Proceeds ATM: Teres Fructuoso (213) 630-6249 (3) The Trustee will retain the funds for the costs of issuance account, the project fund wd wire the remainder to the Escrow Agmt Bond Proceeds $8,992,173.85 TOTAL 58,992,133.85 Project Fund $3,526,765.11 2000 Senes A Debt Service Reserve Fund $676,582.50 2000 Series B Debt Service Reserve Fund $64,155.00 Cost of Issuance Fund $133,850.00 WIRE TO ESCROW AGENT S4,590,781.24 Wire Transfer Instructions: U.S. Bank National Association ABA 6091000022 Credit Account 6180121167365 Further Benefit U.S. Bank Trust 647300413 Ref: Seel Beach 86 & 91 Ann: Gonzalo Urey, 6213-533-8707 Page 2 DEC -25-2000 1212 213 624 5263 97% P.03 DEC 25 2000 12:10 FR SUTRO PUBLIC FINANCE 213 624 5263 TO 15624939857 P.04/05 (4) The Escrow Agent will aggregate the amount received from the trustee together with monies transferred from the Agency's 1986 and 1991 Tax Allocation Band Accounts. A majority ofthese monies will be wired to Sunni, & Co. Incorporated for payment of the defeasance securities. The remainder will be deposited in the Escrow Account. Amount received from the Trustee $4,590,781.24 Monies transferred from Agency's 1986 and 1991 Tax Allocation Bonds 5623,658.08 TOTAL $5,214,43932 Wire to Sutro & Co. Incorporated $5,214,376.82 Deposit to Escrow Account $62.50 ESCROW REQUIREMENT $5,214,439.32 Wire Transfer Instructions: Bank of New York ABA# 021 000 018 A/C# 8900326611 A/C Wexford Clearing Services Corp FCC(Client A/CN, including Ledger) GBR 943341 O� (5) Suite will transfer the escrow securities to the Escrow Agent: Wire Transfer Instructions: Federal Reserve Bank of Minneapolis for account of U.S. Bank Corp Trust. ABA 091000022 U.S. Bank Minnesota/ 1050 A/C: Seal Beach 1986 & 1991 ATTN: Gonzalo Urey, 213-533-8707 Page 3 DEC -25-2000 12:13 213 624 5263 98Y P.04 DEC 25 2000 12:18 FR SUTRO PUBLIC FINANCE 213 624 5263 TO 15624939857 Upon cunBrmadon or wire transfers, call DTC to close the Denoting. The parties M be on the call are: Underwriter, Bond Counsel and the Paying Agent. CLOSING CONTACTS Phone Issuer Redevelopment Agency ofthe City of Seal Beach Trustee Escrow Agent Investment Advisor Bond/Disclosure Counsel Financial Advisor Underwriter DTC Pamela Arends-King (562)431-2527 ANY Western Trust Department Teresa Fructuom (213) 6366249 U.S. Bank Trust N.A. Gonzalo Urey (213)533-8707 Fieldman, Rolapp & Associates Rosa L. Schulte (949)660-8500 Richards, Winston & Gershon William Kremer, Esq. (213) 6264484 Willis. Strauss, Esq (213)6268484 PMO Financial Consulting Patti Gorczyca (714)974-8016 Sutro & Co. Incorporated Scott Boldridge (213) 3624113 Patrick Wright (213) 362-4116 Judie Lau (415)445-6325 Closing (212)855-3752 Page 4 P. 05/05 Fns (562)493-9857 (213)630-6210 (213)533-8777 (949)474-8773 (213)626-0078 (213)626-0078 (714)974-9455 (213)624-5263 (213) 6245263 (415)445-8219 + TOTAL PAGE.05 w»< DEC -25-2"1213 213 624 5263 96% P.05 -03M. ]OIfdYL- � DATE DEC -27-2888 t. TIME 12:20 uw+x »a MOOS - MMORY TRANSMISS[m START -DEC -27 12:19 END -DEC -27 12:26 FILE ND. -132 ST NO. 0341. AREA W. STATION NAME/ EL W. DYES DI -RATION BBI OK • 91%94748')73 002,002 W:W;41 -CITY OF SERL BEACH CMR - -cm MGR 493 9857- City Of ,eaiIB;eai[ch FAX TO: t CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 ILC],�/� 6 i h Fr C FAX NUMBER: 1 �7 FROM / RESPOND TO:--L—OfL� AGENCY / DEPARTMENT: Cno,, Of -r_ TOTAL NUMBER OF PAGES: ✓ — COMMENTS: L wsanwwwwwwwwa -O]M1. JIXRNPL- wwwxuwwwwwwwwwwwvxw BATE BEC -T-2080 .. TIDE 12:19 .wwww MORE - MEM]RY TRANSMISS[W STPRT-BEC-2 12:10 E XC -Z 12:19 FILE N0.-131 STN W. O . PBHi NO. STATIW � NO. MCES B Tial 001 W a 912136245263 002 W2 W:W:41 wcxwwwumwwxou.xuwwwwwwxuwawww . CITY MGF City SHF sleaA Bealclhi CITY 0= SEAL BEACH CMBR - wwww 493 9 7- wwwwrtwraa CITY MANAGER'S OFlgCE 1 OFFICE (562) 431-2527 FAX (562) 493-9557 FAX TO: ,2 c o TySAI- fa .t F FAX NUMBER: FROM / RESPOND TO: AGENCY / DEPARTMENT:--_�A- (ec - COMMENTS: TOTAL NUMBER OF PAGES: COMMENTS: -COMM. SOJ34L- xwcuraren+Alc+wwkrcw DRTE UEC -2 -d **+ TIME 12:18 » +w « MODE - MF 0RY T MISSION START -UEC -2Y 12:14 END WC -27 12:18 FILE W.-129 STN W. COM1. RBBR W, SIRTICN NAM /TEL W. R'Y;E5 "ATICN 883 d( • 512136386210 8B2i0B2 88:88+43 »�a•vwaxx�k+*gym+a+*++:r++r*mmmr.'+++ -CITY MGR Gutty Of Seal Beach FAX TO: -CITY W 5ERL EERCM C - 493 98SI- saoppr•»a CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 Trt_�sr llacs4 FAX FROM / RESPOND TO: l' ogs� .S ) AGENCY / DEPARTMENT: TOTAL NUMBER OF P\GES:_ •w-r:+.,n +awwFwcw -@�M. SOIRNOL- «:cxvow.nrr cuw.wx++w DATE DEC -21-2800 *"** TIME 12:17 vwws" MODE - MFM]RY TRpSMISSION START -DEC -Z 12:15 END ­MC -2i 12:17 FILE NO. -130 STN NO. COT1. ARBA r0. STATION NANEi NO. PACES O TION 001 OK s 917149749055 0021002 00:01:12 -cln DF sEAL BEAaa cMsz - + -CITY I'CR - - 562 493 9051- �owvwxnn Catw Of Seaill ge,ailclhi Y- CiTY MANAGER'S OFFICE'a - OFFICE (562) 431-2527 FAX (562) 493-9857 FAX TO:_t_jg4:7;% I� C%I PGG may/l nY�u7Ste, FAX N(MBEP.:_f-�./ FROM / RESPOND TO: AGENCY / DEPARTMENT:_LtA _P)EC—_ TOTAL -NUMBER OF PAGES:, COMMENTS:_ *.**uansavcx -(bMM. SORi1- cxaaRcpumlvFwpcpx DATE DEC -27-2000 »a+:w TIME 12:15 »acwgww MODE - M Y TRANSMISSION STRRT-DEC-Y 12:14 END -DEC -Y 12:15 FILE NO. -129 STN NO. COW. AREA NO. STATION �TEL W. PAGES DLRATION BBI OK a 9121362GORM 0021002 00:08:39 CITY OF SEAL BEACH CMGR - • -CITY KR -vadat/ - 562 993 98S - ava:vwvvp City Of scall lgeacht CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9957 FAX to: _ (I AtLlZ FAX NVMBER:_ FROM / RESPOND TO: AGENCY / DEPARTMENT: _ L COMMENTS: TOTAL NUMBER OF PAGES: COMMENTS: wwwAuwseps -CO+11. Id,RNOE- wwwwnuxwluwwciaa w* DRTE CEC-27-2888 .. TIME 12:85 ft. MDDE - MSU' TRq ISSIW STPRT-DEC-27 11:59 Elm -DEC -n 12:015 FILE 1,0.-125 STN F0. 03N . 69ER ND. 9TBTIW NWE/T W. PAGES DURATIW DBS OK a %7149749155 B@/BB2 W:B2:40 {ITY ff SEAL BEBCH CM[R - wwwwwwwwwwwwwwrtxwwwwwwxwwwwww»awiapy _cm mP - wwcxw - 562 493 �7- rtrtrtw»Dx4w City Of seal[ Reach, CITY MANAGER'S OFFICE'S OFFICE (562) 431-2327 FAX (562) 493-9857 FAX TO:__ ri•=z FAX NUMBER: y -s- FROM / RESPOND TO:t� AGENCY / DEPARTMENT: TOTAL: NUMBER OF PAGES: COMMENTS: »arwrwwv»xxi0u -CONN J0.fdYL- +ai».va»a+crcuaas. WM D90 -2i-2000 ++xwr TIDE 12:03 cn:s . MOLE - MBLtY TRPNSMISSICN START -OEC -Z 12:01 ENO -BEC -Z! 12:03 FILE N0,l1 STN W. COMM. AM W. STATION WkE/TEL W. PPlFS 01mTION 001 OK . 912136386210 002/002 08:08:46 GHLY Of Seal Beach/ -CITY OF SEAL MACH CmR - 493 9851- ccxw+m-'K CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 FAX TO:_ UU rLES�i FR^(.io5 A FAX NJJMBER: I O - at (D FROM / RESPOND TO: (11a's - AGENCY / DEPARTMENT: Lk rar TOTAL NUMBER OF PAGES: J JOURNAL- +:ck *pw+ +v + .. WTE OEC-n-20PB .*.* TIM 12:01 ..0 MODE - MM3QY TRff6MISSION STPRT-DEC-27 12:00 E IXC -27 12:01 FILE N0.-126 STN Id1. COM. ARM W. STATION NAI TEL W. PAGES C ATION 081 O< . 91213626IX)78 0821002 00:00:47 CITY OF SEAL t£Api CMR - CITY M[R - »aco - 562 493 9851- cn.Mm.. CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 FAX TO: y K— jl&� / E.,Q FAX NUMBER: FROM / RESPOND TO: AGENCY / DEPARTMENT: _C,�� _,/ Ipi( _ TOTAL NUMBER OF PAGES: E. COMMENTS- cc p:v vrvawcx-CLM•I. I0.PoJRL- cn»n.vvw+gawxuw WTE OEC -£1-2880 --* TIDE 11:59 .x MORE - MEMORY TAANDIISSION START -mc -Y 11:58 0D-DEc-Z 11:59 FILE N0.-124 STN W. Com. AREA NG. STATION WkE/TEL W. PAGES IX TION 001 ON • 912136245263 082/002 00:00:43 CITY OF SEAL BEACH OTiF - -CITY Mit -wcry - 562 493 9857- xm.. City Of s,eail Blealclhu CITY MANAGER'S OFRICE OFFICE (562) 431-2527 FAX (562) 493-9857 FAX TO: FAX NUMBER:_ \ Q"`"'ty SC✓�� FROM / RESPOND TO: CQ(L}Z AGENCY / DEPARTMENT:--eJA-12F ( TOTAL NUMBER OF PAGES: D' �- COMMENTS:-- • r:. ..«a . « -CUM4. IOLfaM - xocaaorvw- vrpiv» DATE OEC -2 -2880 * TIDE SI:S *+x.. NUDE NEM]RY TtaYJ`.,MISSION START -DEC -27 11:56 END -DEC -27 11:57 FILE W.-123 STN NO. CLNM. ABOR W. STATION WIM'TEL FU. K ES DImTION 091 IX s 919494748773 BB2i 08:80:43 CITY if SEAL SACH Q`IDR - xwv++++++ +.vru »++« •utpkX%+rtwx+vy� -CITY Mm - •vw.x - 562 493 9857- Outw Of Seat Be;a1clhi FAX CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 FAX NUMBER: 1 /�` q7 77 Z FROM / RESPOND TO: (1 oQy---r-3 AGENCY / DEPARTMENT: DA ©y -r_ TOTAL NUMBER OF COMMENTS: »=xx+++e+++*u» -am. JUJNd - LATE OEC -n-2800 —*. TIFF 11:51 cpmsara MOOS - MICRY TWi`bMISSiw START -OEC -2•l 11:50 EN me -Y 11:51 FILE N0.-122 SIN N0. O?M. ABBR FO. STATION NRME EL W. PAGES IX TIUJ 001 Q( s 9121363%210 0021002 08:00:44 -cm M[R City Of Sead lReauclhi -Cttt ff SEAL BERLH CFO2 - - •xray - 562 493 985'1- wxv�unas+ CITY MANAGER'S OFFICE OFFICE (562) 431-2527 FAX (562) 493-9857 FAX TO:_Al I r_�i.Sl f'-T217jr FAX N1IMBER: FROM / RESPOND TO:�{'�, AGENCY / DEPARTMENT: Lt —oC— TOTAL NUMBER OF PAGES COMMENTS: From: Rosalschulte@aol.com Sent: Wednesday, December 27, 2000 11:06 AM To: dmcintyre@ci.seal-beach.ca.us Cc: tfmctuoso@bankofny.com;g or czyca(c$earthlink.net; sbaldridge@sutro.com Subject: Written Request to Trustee r,wrc� o�ro„z.aoo Mr. McIntyre: Per our conversation, attached please find a Word file with a letter instructing the Trustee to enter into the investment agreement with AIG for the investment of the Reserve Accounts related to the recent bond financing. Please print on Agency's letterhead, sign and fax at your earliest opportunity to the people indicated on the letter. Their fax numbers follow: Teresa Fmctuoso, Bank of New York - (213) 630-6210 Rosa Schulte, Fieldman, Rolapp Financial Services, LLC - (949) 474.8773 Scott Baldridge, Sutro & Co. Incorporated - (213) 624-5263 Patti Gorczyca, PMG Financial Consulting - (714) 974-9455 William K. Kramer, Esq., Richards, Watson & Gershon - (213) 626-0078 Should you have any questions, please call me at (949) 660-8500. A@ematively, you can reach me on my cell phone at (949) 433-8949 as I'm working out of my home today. I have already informed Provider's Counsel about disseminating signature pages tomorrow afternoon so that we can close on Friday. Thank you, Rosa L. Schulte Fieldman, Rolapp Financial Services, LLC