ORDER NO. 2181.@
APFROVA:L~ GF 'LETTER ..^.OMPLYING WITH THE REQUIREMENTS
OF' MSRR Ri7LE1 G---23 ALLOWING FINANCIAL ADVISOR
TO I3IU ISSURR'S OF3.f~IGATIONS WHEN SOI,U ANU
n?7THGRT'(,ATION OIL TE1B CO7JNTY .77IDGF..' S SIGNATURE:
On this thr lsr_ day of H'elaruary 1994, upon motion made, by
Commiss;ir>ner fJolekamp, seconded by Commissioner Oehler, the
Court unanimously approved by a vote of 4-@-@, t.o approve the
letter r..omplyi.ng with the requirements of. MSRF3 Rule G-7.3 which
.:~11ows the financial advisor of an issuer to biri when the
issuer's ohli.gationr. arc, sold competitively and authorize the:
Cr.+unty ~7uclge t.a sign same.
RAUSCHER PIERCE REFSNES, INC.
Mark M. McLiney
Associate
January 24, 1994
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The Honorable W. G. Stacy
Kerr County
Courrty Courthouse
Kerrville, Texas 78028
Re: $5,900,000 KERB COUNTY
LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 1994
Sale Date: February 8, 1994
Dear Judge Stacy:
I have enclosed copies of a form letter which will need to be signed by you and then
returned to us prior to the above-referenced sale. This letter will comply with the
requirements of MSRB Rule G-23 which allows the financial advisor of an issuer to bid
when the issuer's obligations are sold competitively. Other requirements, which at this time
have already been met, are full disclosure of our right to bid in our contract with the
County, in the Official Statement and also in the Official Bid Form.
It is our opinion that additional bidders in a competitive sale will benefit Kerr County by
providing additional economic assurances that the bonds will be sold at the lowest possible
net effective irteresi rate. ii yuu illrvc any problems with ibis or would like [o discuss this
in further detail please feel free to call me or Bob Henderson at (210) 220-3041.
Very truly yours,
7~%~~. ~,.~i
/'M`ark M. McLiney :/~
Associate
MMM:pac
Enclosure
cc: Robert V. Henderson - Rauscher Pierce Refsnes, Inc.
300 Convent Street, Suite 1600 • San An[onio, Texas 78?OS (?]0) 2?5-6611
Member New York Stock Eschnngg Lre.
KERR COUNTY, TEXAS
Kerr County Courthouse
Kerrville, Texas 78028
January 24, 1994
Mr. Robert V. Henderson
Senior Vice President/
Managing Director
Rauscher Pierce Refsnes, Inc.
300 Convent Street, Suite 1600
San Antonio, Texas 78205
Re: $5,900,000 KERR COUNTY, TEXAS
Limited Tax General Obligation Bonds, Series 1994
Dear Mr. Henderson:
Kerr County, Texas (the "County") currently plans to sell the captioned Bonds, pursuant to
competitive bid, on Tuesday, February 8, 1994. Your firm serves as the County's Financial
Advisor for these Bonds, and you have requested that the County permit Rauscher Pierce
Refsnes, Inc. to submit a competitive bid to purchase these securities. You have stated, and
I agree, that the bid will provide additional economic assurances to the County and that the
Bonds will be sold at the lowest possible net effective interest rate, thereby maximizing the
debt service savings to the County.
I am authorized to provide the requested consent of the County to Rauscher Pierce Refsnes,
Inc. in order to comply with the requirements of Rule G-23(d)(ii) of the Municipal
Securities Rulemaking Board Manual. Accordingly, the County hereby expressly consents
to the submission of a competitive bid by Rauscher Pierce Refsnes, Inc. to purchase the
Bonds.
If you have any additional questions, please do not hesitate to contact me.
Very truly yours,
~~~i~~~~
W.G. (Bill) Stacy
County Judge
Kerr County, Tcxas