HomeMy WebLinkAbout09/14/94September 14, 1994
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The Administrative Director of Waterloo, Iowa, met in the Council Chambers, City Hall, 715
Mulberry Street, Waterloo, at 10:00 a.m., on Wednesday, September 14, 1994, to open sealed
bids and receive and refer the sale of $8,580,000 Sewer Revenue Refunding Bonds to the best
and most favorable bidder for cash, subject to approval of the City Council at 4:30 p.m. on
the above date. The following persons were present at said meeting: Finance Manager Bruce
Meisinger, Administrative Director Bob Stevenson, and Jacqueline Wynter and Dan Forbes from
Speer Financial, Inc.
This being the time and place for the opening of bids for the sale of $8,580,000 Sewer
Revenue Refunding Bonds, the meeting was opened for the receipt of bids for the bonds. The
following sealed bids were received, placed on file, but NOT OPENED and sealed bidding
closed:
Name of Bidder
1. Chiles Heider Division Smith Barney Inc., Omaha, Nebraska
2. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Illinois
3. Kemper Securities, Inc., Chicago, Illinois
4. Merril Lynch & Co., Chicago, Illinois
5. Raymond James & Associates, Inc., Chicago, Illinois
Whereupon, the Administrative Director declared the time for filing of sealed bids to be
closed, and whereupon the Administrative Director declared the sealed bids be opened, which
were as follows:
Name of Bidder Net Interest
1. Chiles Heider Division Smith Barney Inc., Omaha, Nebraska 5.6046%
2. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Illinois 5.5803%
3. Kemper Securities, Inc., Chicago, Illinois 5.7125%
4. Merril Lynch & Co., Chicago, Illinois 5.6107%
5. Raymond James & Associates, Inc., Chicago, Illinois 5.5758%
Whereupon, all bids were referred to the Council for action at the meeting to be held at 4:30
p.m. in the City Hall Council Chambers on September 14, 1994.
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Council
Chambers, Waterloo, Iowa, at 4:30 p.m. on September 14, 1994. Mayor Pro Tem Jerry Anders in
the Chair. Roll Call: Jordan, Collier, Krizek, Anders, Murphy, Getty. Absent: Mollenhoff.
103553 - Getty/Murphy
that the Agenda, as proposed, for the Special Session on Wednesday, September 14,
1994, at 4:30 p.m., be accepted and approved. Ayes: Six. Absent: Mollenhoff.
Motion carried.
103554 - Krizek/Collier
that the copies of the Call of the Special Session of September 14, 1994, at 4:30
p.m., be received and placed on file. Ayes: Six. Absent: Mollenhoff. Motion
carried.
103555 - Getty/Collier
that proof of publication of Notice of Sale on the consideration of the proposal of
issuance of not to exceed $9,500,000 Sewer Revenue Refunding Bonds, as published in
the Waterloo Courier on September 8, 1994, be received and placed on file. Ayes:
Six. Absent: Mollenhoff. Motion carried.
This being the time and place of public hearing on the bond issuance, the Mayor Pro
Tem called for written and oral objections and there were none.
103556 - Krizek/Murphy
that "Resolution authorizing the sale and award of $8,580,000 Sewer Revenue
Refunding Bonds and authorizing the agreement of such sale and award to Raymond
James & Associates of Chicago, Illinois", be adopted. Ayes: Six. Absent:
Mollenhoff.
Resolution adopted and upon approval by Mayor Pro assigned No. 1994-444.
103557 - Collier/Krizek
that the City Clerk be instructed to return the unsuccessful bids and checks. Ayes:
Six. Absent: Mollenhoff. Motion carried.
103558 - Getty/Collier
that the Council adjourn at 4:57 p.m. Ayes: Six. Absent: Mollenhoff. Motion
carried.
Susan Fangman
City Clerk