HomeMy WebLinkAbout06/22/1989"rune 22, 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 June 22, 1989. Mayor Bernard L. McKinley in
the Chair. Roll Call: Fox, Angel, Buck, Wright, Budak, Brown. Absent: Dell.
94084 - Moved by Buck, seconded by Wright
that copies of the call of the Special Session of June 22, 1989, at 11:00 a.m.,
be received and placed on file. Motion carried.
94085 - This being the time and place fixed in the published notice for the
consideration of proposals for the purpose of the $4,900,000 General Obligation
Bonds, 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. Clayton Brown & Associates, Inc., Chicago, Illinois
2. First Chicago Capital Markets Inc. & Associates, Chicago, Illinois
3. Harris Trust and Savings Bank, Chicago, Illinois
4. The Northern Trust Company, Chicago, Illinois
5. Dean Witter Reynolds Inc., Chicago, Illinois
Motion carried.
94086 - Moved by Angel, seconded by Buck
that proof of publication of notice of meeting for the issuance of $4,900,000
General Obligation Bonds, as published in the Waterloo Courier on June 14,
1989, be received and placed on file. Motion carried.
94087 - Moved by Fox, seconded by Wright
that Clerk/Auditor be instructed to open all sealed bids which were as follows:
Name of Bidder Net Interest
1. Clayton Brown & Associates, Inc. 6.9800%
2. First Chicago Capital Markets Inc. & Associates 6.89585%
3. Harris Trust & Savings Bank 6.8919%
4. The Northern Trust Company 6.892%
5. Dean Witter Reynolds Inc. 6.9861
Motion carried.
94088 - Moved by Buck, seconded by Angel
that "Resolution authorizing sale and award of $4,900,000 General Obligation
Bonds and authorizing the agreement of such sale and award to Harris Trust &
Savings Bank", be adopted. Ayes: Six. Absent: Dell.
Resolution adopted and upon approval by Mayor assigned No. 1989-312.
94089 - Moved by Budak, seconded by Wright
that the Clerk be instructed to return the unsuccessful bids and checks.
Motion carried.
94090 - Moved by Buck, seconded by Wright
that the Council adjourn. Motion carried.
Larry P. Burger
Clerk/Auditor