HomeMy WebLinkAbout06/14/94June 14, 1994
The Acting Clerk of Waterloo, Iowa, met in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 10:00 a.m., on Tuesday, June 14, 1994, to open sealed bids and
receive and refer the sale of $5,000,000 General Obligation Bonds, Series 1994A and
$20,335,000 General Obligation Refunding Bonds, Series 1994B, to the best and most favorable
bidder for cash, subject to approval of the City Council at 4:00 p.m. on the above date. The
following persons were present at said meeting: Mayor John Rooff, Acting Clerk/Auditor Tom
Campbell, Budget Analyst Bruce Meisinger, Administrative Director Bob Stevenson, and Dick
Pavia, Jacqueline Wynters and Dan Forbes from Speer Financial, Inc.
This being the time and place for the opening of bids for the sale of $5,000,000 General
Obligation Bonds, Series 1994A, 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. Kemper Securities, Chicago, Illinois
2. Merrill Lynch, Chicago, Illinois
3. Nike Securities, Lisle, Illinois
Whereupon, the Acting Clerk/Auditor declared the time for filing of sealed bids to be
closed, and whereupon the Acting Clerk/Auditor declared the sealed bids be opened which
were as follows:
Name of Bidder
1. Kemper Securities, Chicago, Illinois
2. Merrill Lynch, Chicago, Illinois
3. Nike Securities, Lisle, Illinois
Net Interest
6.0763%
6.0415%
5.9499%
Whereupon all bids were referred to the Council for action at the meeting to be held at
4:00 p.m. in the City Hall Council Chambers on June 14, 1994.
This being the time and place for the opening of bids for the sale of $20,335,000
General Obligation Refunding Bonds, Series 1994B, 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. Harris Trust and Savings Bank, Chicago, Illinois
2. Kemper Securities, Chicago, Illinois
3. Merrill Lynch, Chicago, Illinois
4. Nike Securities, Lisle, Illinois
5. Goldman Sachs & Co., New York, New York
Whereupon the Acting Clerk/Auditor declared the time for filing of sealed bids to be
closed, and whereupon the Acting Clerk/Auditor declared the sealed bids be opened which
were as follows:
Name of Bidder
1. Harris Trust and Savings Bank, Chicago, Illinois
2. Kemper Securities, Chicago, Illinois
3. Merrill Lynch, Chicago, Illinois
4. Nike Securities, Lisle, Illinois
5. Goldman Sachs & Co., New York, New York
Net Interest
5.2708%
5.2349%
5.2258%
5.1780%
5.2305%
Whereupon all bids were referred to the Council for action at the meeting to be held at
4:00 p.m. in the City Hall Council Chambers on June 14, 1994.
June 14, 1994
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Council
Chambers, Waterloo, Iowa, at 4:00 p.m. on June 14, 1994. Mayor John R. Rooff in the Chair.
Roll Call: Jordan, Collier, Krizek, Anders. Members absent: Mollenhoff, Murphy, Getty.
103117 - Krizek/Collier
that the Agenda, as proposed, for the Special Session on Tuesday, June 14, 1994, at
4:00 p.m., be accepted and approved. Ayes: Four. Absent: Mollenhoff, Murphy,
Getty. Motion carried.
June 14, 1994 Page 2
103118 - Jordan/Krizek
that copies of the Call of the Special Session of June 14, 1994, at 4:00 p.m. be
received and placed on file. Ayes: Four. Absent: Mollenhoff, Murphy, Getty.
Motion carried.
103119 - Krizek/Collier
that proof of publication of notice of public hearing on the consideration of the
proposal for the purpose of issuance of $5,000,000 General Obligation Bonds, Series
1994A and $20,335,000 General Obligation Refunding Bonds, Series 1994B, as published
in the Waterloo Courier on June 8, 1994, be received and placed on file. Ayes:
Four. Absent: Mollenhoff, Murphy, Getty. Motion carried.
103120 This being the time and place of public hearing on the bond issuance, the Mayor
called for written and oral objections and there were none.
Anders/Jordan
that "Resolution authorizing sale and award of $5,000,000 General Obligation Bonds,
Series 1994A and authorizing the agreement of such sale and award to Nike Securities
LP of Lisle, Illinois", be adopted. Ayes: Four. Absent: Mollenhoff, Murphy,
Getty
Resolution adopted and upon approval by Mayor assigned No. 1994-271.
103121 - Krizek/Collier
that "Resolution authorizing sale and award of $20,335,000 General Obligation
Refunding Bonds, Series 1994B and authorizing the agreement of such sale and award
to Nike Securities LP of Lisle, Illinois", be adopted. Ayes: Four. Absent:
Mollenhoff, Murphy, Getty.
Resolution adopted and upon approval by Mayor assigned No. 1994-272.
103122 - Jordan/Collier
that the Clerk be instructed to return the unsuccessful bids and checks. Ayes:
Four. Absent: Mollenhoff, Murphy, Getty. Motion carried.
103123 - Jordan/Krizek
that the Council adjourn at 4:51 p.m. Ayes: Four. Absent: Mollenhoff, Murphy,
Getty. Motion carried.
Tom Campbell
Acting Clerk/Auditor