HomeMy WebLinkAbout09/28/1988September 28, 1988
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 September 28, 1988. Mayor Bernard L. McKinley
in the Chair. Roll Call: Angel, Buck, Wright, Brown. Absent: Dell, Fox, Budak.
92850 - Moved by Buck, seconded by Angel
that the copies of the call of the Special Session of September 28, 1988, at
11:00 a.m. be received and placed on file. Motion carried.
92851 - Moved by Angel, seconded by Wright
that the following sealed bids for $2,245,000 Sewer Revenue Bonds, Series
1988A, 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. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Illinois
3. Merrill Lynch Capital Markets, Chicago, Illinois
Motion carried.
92852 - Moved by Angel, seconded by Wright
that the following sealed bids for $1,180,000 Sewer Revenue Bonds, Series
1988B, 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. Merrill Lynch Capital Markets, Chicago, Illinois
Motion carried.
92853 - Moved by Wright, seconded by Angel
that proof of publication of notice of public hearing for the issuance of
$2,245,000 Sewer Revenue Bonds, Series 1988A and $1,180,000 Sewer Revenue
Bonds, Series 1988B, as published in the Waterloo Courier on September 16,
1988, be received and placed on file. Motion carried.
92854 - Moved by Buck, seconded by Wright
that Clerk/Auditor be instructed to open all sealed bids for $2,245,000 Sewer
Revenue Bonds, Series 1988A, which were as follows:
Name of Bidder Net Interest
1. Chiles Heider Division/Shearson
Lehman Hutton, Inc.
2. Griffin, Kubik, Stephens & Thompson, Inc.
3. Merrill Lynch Capital Markets
Motion carried.
7.4695%
7.6173%
7.7071%
September 28, 1988 Page 2
92855 - Moved by Buck, seconded by Wright
that Clerk/Auditor be instructed to open all sealed bids for $1,180,000 Sewer
Revenue Bonds, Series 1988B, which were as follows:
Name of Bidder
1. Chiles Heider Division/Shearson
Lehman Hutton, Inc.
2. Merrill Lynch Capital Markets
Motion carried.
92856 - Moved by Buck, seconded by Angel
Net Interest
7.28005%
7.4135%
that "Resolution authorizing sale and award of $2,245,000 Sewer Revenue Bonds,
Series 1988A and approving and authorizing the agreement of such sale and award
to Chiles Heider Division/Shearson Lehman Hutton, Inc.", be adopted. Ayes:
Four. Absent: Budak, Fox, Dell.
Resolution adopted and upon approval by Mayor assigned No. 1988-553.
92857 - Moved by Buck, seconded by Angel
that "Resolution authorizing sale and award of $1,180,000 Sewer Revenue Bonds,
Series 1988B and approving and authorizing the agreement of such sale and award
to Chiles Heider Division/Shearson Lehman Hutton, Inc.", be adopted. Ayes:
Four. Absent: Budak, Fox, Dell.
Resolution adopted and upon approval by Mayor assigned No. 1988-554.
92858 - Moved by Angel, seconded by Wright
that the Clerk be instructed to return the unsuccessful bids and checks.
Motion carried.
92859 - Moved by Buck, seconded by Angel
that the Council adjourn. Motion carried.
Larry P. Burger
City Clerk/Auditor