Tab 19 Closing Memor 255 Alhambra Circle 305 - 448 -6992
F A4 Suite 404 305 -448 -7131 fax
Coral Gables, FL 32134 www.pfm.com
The PFM Group
Fnan6al & Investment Advisors
CLOSING MEMORANDUM
TO: Working Group
FROM: Public Financial Management
DATE: October 16, 2014
RE: Monroe County, Florida
Infrastructure Sales Tax Revenue Bonds, Series 2014
Closing Wiring Instructions
I. SCHEDULE
Pre - Closing
Date: Thursday, October 16, 2014
Time: 3:00 PM
Place: Monroe County, Florida
Closing
Date: Tuesday, October 21, 2014
Time: Approximately 10:00 am. An e -mail will be sent to the working group upon
confirmation of receipt of funds and document signatures.
II. AMOUNTS DUE AT CLOSING OF 2014 BONDS
Par Amount (Purchase Price) .............................................. ............................... $31.885.000.00
Net Purchase Price ..................................................... ............................... ...31,885,000.00
VI
III. SOURCES AND USES
Sources:
Closing Memorandum
Monroe County, FL
Series 2014
Page 2
Par Amount. .............. ............................... ,....... ........ — $31.885.000.00
SourcesTotal ...................................................................... ............................... $31,885,000.00
Uses:
Cash Deposit to Escrow Fund ............................................... ............................... $7,097,180.79
Deposit to Project Fund ......................................................... ............................... 24,691,691.40
Costs of Issuance .......................................................................... ............................... 96 127.81
Uses Total .... --- .... .................................................... ..... ...,....- ................... $31.,885,000.00
IV. WIRE & TRANSFERS:
A. From Pinnacle Public Finance servin2 as Loan Provider to U.S. Bank Na tional
Association, Serving as Escrow Agent
Pinnacle will wire $7,097,180.79 to The Bank of New York Mellon, serving as escrow
agent on the transaction. This amount will be held in escrow and used to redeem the
refunded bonds (Series 2003) on November 20, 2014. Wire instructions for this
transfer are as follows:
Wiring Instructions
The Bank of New York Mellon
ABA Routing Number: 021000018
GLA: 211065
F/F /C: TAS #428490
Ref: Monroe County, FL Refunding Bonds 2014
Attention: Vivek Sevak at (214) 468 -5027
PF- T Closing Memorandum
, ---- Monroe County, FL
Series 2014
Page 3
B. From Pinnacle Bank, serving as Loan Provider, to Monroe Countv
Pinnacle will wire a total of $24,787,819.21 to Monroe County. This amount
represents (i) the deposit to the project fund in the amount of $24,691,691.40, and (ii)
the amount used to pay costs of issuance totaling $96,127.81. Wire instructions for
this transfer are as follows:
To: Capital Bank
6435 Naples Blvd, First Floor
Naples, Florida 34109
ABA: 067011760
Acct #: 560024944106
Acct Name: 2014 Bond Series
Ref: Monroe County, FL Refunding Bonds 2014
Attn: Heather Craft, Treasury Management Specialist, (239) 552 -1002