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Council accepts bids and awards tax-and-revenue anticipation notes; Lehman Brothers lowest true interest cost
Summary
The council accepted bids and awarded tax-and-revenue anticipation notes on June 27, 2001; winning bidders and true interest costs were announced and the resolution was attached for execution.
The Los Angeles City Council on June 27, 2001 accepted bids and awarded tax-and-revenue anticipation notes, announcing winning bidders and true interest costs and approving the associated resolution.
The winning bidders and true interest costs recorded in the meeting were: Lehman Brothers at a true interest cost of 2.4957%; Zion Bank at 2.51088%; JPMorgan at 2.51183%; a second JPMorgan award at 2.51895%; and Smith Barney at 2.51898%. The council noted the resolution was attached to the item and approved forwarding the matter forthwith.
The council approved the awards and authorized staff to proceed with execution consistent with the resolution provided in the agenda materials.
