HomeMy WebLinkAbout12/07/1989December 7, 1989
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Council
Chambers, Waterloo, Iowa, at 11:00 a.m., on December 7, 1989. Mayor Bernard L. McKinley
in the Chair. Roll Call: Fox, Buck, Budak, Brown. Absent: Dell, Angel, Wright.
94918 - Moved by Buck, seconded by Budak
that copies of the call of the Special Session of December 7, 1989, at 11:00
a.m., be received and placed on file. Motion carried.
94919 - This being the time and place fixed in the published notice for the
consideration of proposals for the purpose of the $1,125,000 Sewer Revenue
Bonds, Series 1989A, the Council proceeded accordingly. The Mayor announced
that the time had arrived for receipt of bids for said bonds.
Moved by Fox, seconded by Buck
that the following sealed bids be received, placed on file, but NOT OPENED and
sealed bidding closed.
Name of Bidder
1. Bernardi Securities, Inc., Chicago, Illinois
2. Chiles Heider Division/Shearson Lehman Hutton Inc., Omaha, Nebraska
3. Hutchinson, Shockey, Erley & Co., Chicago, Illinois
4. Piper, Jaffary & Hopwood, Inc., Minneapolis, Minnesota
Motion carried.
94920 - Moved by Buck, seconded by Brown
that proof of publication of notice of meeting for the issuance of $1,125,000
Sewer Revenue Bonds, Series 1989A, as published in the Waterloo Courier on
November 29, 1989, be received and placed on file. Motion carried.
94921 - Moved by Brown, seconded by Buck
that the Clerk/Auditor be instructed to open all sealed bids which were as
follows:
Name of Bidder Net Interest
1. Bernardi Securities, Inc. 7.05681%
2. Chiles Heider Division/Shearson Lehman Hutton, Inc. 6.97096%
3. Hutchinson, Shockey, Erley & Co. 7.246%
4. Piper, Jaffray & Hopwood, Inc. 7.1019%
Motion carried.
94922 - Moved by Buck, seconded by Brown
that "Resolution authorizing sale and award of $1,125,000 Sewer Revenue Bonds,
Series 1989A and authorizing the agreement of such sale and and award to Chiles
Heider Division/Shearson Lehman Hutton Inc.", be adopted. Ayes: Four.
Absent: Dell, Angel, Wright.
Resolution adopted and upon approval by Mayor assigned No. 1989-660.
94923 - Moved by Fox, seconded by Buck
that the Clerk be instructed to return the unsuccessful bids and checks.
Motion carried.
December 7, 1989
Page 2
94924 - This being the time and place fixed in the published notice for the
consideration of proposals for the purpose of the $870,000 Sewer Revenue Bonds,
Series 1989B, the Council proceeded accordingly. The Mayor announced that the
time had arrived for receipt of bids for said bonds.
Moved by Brown, seconded by Fox
that the following sealed bids be received, placed on file, but NOT OPENED and
sealed bidding closed:
Name of Bidder
1. Chiles Heider Division/Shearson Lehman Hutton Inc., Omaha, Nebraska
2. Piper, Jaffray & Hopwood, Inc., Minneapolis, Minnesota
3. Ruan Securities, Chicago, Illinois
Motion carried.
94925 - Moved by Buck, seconded by Budak
that proof of publication of notice of meeting for the issuance of $870,000
Sewer Revenue Bonds, Series 1989B, as published in the Waterloo Courier on
November 29, 1989, be received and placed on file. Motion carried.
94926 - Moved by Fox, seconded by Brown
that the Clerk/Auditor be instructed to open all sealed bids which were as
follows:
Name of Bidder Net Interest
1. Chiles Heider Division/Shearson Lehman Hutton Inc. 6.9429%
2. Piper, Jaffray & Hopwood 6.8310%
3. Ruan Securities 6.8953
Motion carried.
94927 - Moved by Buck, seconded by Fox
that "Resolution authorizing sale and award of $870,000 Sewer Revenue Bonds,
Series 1989B and authorizing the agreement of such sale and award to Piper,
Jaffray & Hopwood, Inc.", be adopted. Ayes: Four. Absent: Dell, Angel,
Wright.
Resolution adopted and upon approval by Mayor assigned No. 1989-661.
94928 - Moved by Budak, seconded by Buck
that the Clerk be instructed to return the unsuccessful bids and checks.
Motion carried.
94929 - Moved by Buck, seconded by Brown
that the Council adjourn. Motion carried.
Larry P. Burger
City Clerk/Auditor