HomeMy WebLinkAboutMinutes-06/05/2012June 5, 2012
The City Clerk of the City of Waterloo, Iowa, met in the First Floor Conference Room,
City Hall, 715 Mulberry Street, Waterloo, Iowa, at 10:00 a.m. on Tuesday, June 5, 2012,
to receive bids and refer the sale of $8,040,000 General Obligation Bonds, Series 2012A,
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:
Michelle Weidner, Chief Financial Officer; and Larry Burger, Vice President of Speer
Financial, Inc.
This being the time and place for the opening of bids for the sale of $8,040,000 General
Obligation Bonds, Series 2012A, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
1. Piper Jaffray of Leawood, Kansas 1.7710%
2. FTN Financial Capital Markets of Memphis, Tennessee 1.8325%
3. UMB Bank, n.a. of Kansas City, Missouri 1.8573%
4. Robert W. Baird & Co. of Milwaukee, Wisconsin 1.8727%
5. Stifel Nicolaus & Co. of Minneapolis, Minnesota 1.9090%
6. Morgan Keegan & Company, Inc. of Memphis, Tennessee 2.1122%
7. Hutchinson, Shockey, Erley & Co. of Chicago, Illinois 2.1840%
The best bid was determined to be as follows: Piper Jaffray of Leawood, Kansas at a True
Interest Rate of 1.7710%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 5, 2012.
June 5, 2012
The City Clerk of the City of Waterloo, Iowa, met in the First Floor Conference Room,
City Hall, 715 Mulberry Street, Waterloo, Iowa, at 10:30 a.m. on Tuesday, June 5, 2012,
to receive bids and refer the sale of $5,470,000 General Obligation Refunding Bonds,
Series 2012B, 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: Michelle Weidner, Chief Financial Officer; and Larry Burger, Vice President of
Speer Financial, Inc.
This being the time and place for the opening of bids for the sale of $5,470,000 General
Obligation Refunding Bonds, Series 2012B, the City Clerk announced the following bids
were received:
Name of Bidder True Interest Rate
1. UMB Bank, n.a. of Kansas City, Missouri 1.0374%
2. Piper Jaffray of Leawood, Kansas 1.0983%
3. Bankers' Bank of Madison, Wisconsin 1.1029%
4. FTN Financial Capital Markets of Memphis, Tennessee 1.1341%
5. Stifel Nicolaus & Co., Inc. of Minneapolis, Minnesota 1.1736%
6. Robert W. Baird & Co. of Milwaukee, Wisconsin 1.1755%
7. Morgan Keegan & Company, Inc. of Memphis, Tennessee 1.2594%
8. Hutchinson, Shockey, Erley & Co. of Chicago, Illinois 1.5155%
The best bid was determined to be as follows: UMB Bank, n.a. of Kansas City, Missouri at
a True Interest Rate of 1.0374%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 5, 2012.
June 5, 2012
June 5, 2012
Page 2
The City Clerk of the City of Waterloo, Iowa, met in the First Floor Conference Room,
City Hall, 715 Mulberry Street, Waterloo, Iowa, at 11:00 a.m. on Tuesday, June 5, 2012,
to receive bids and refer the sale of $5,205,000 General Obligation Bonds, Taxable Series
2012C, 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: Michelle Weidner, Chief Financial Officer; and Larry Burger, Vice President of
Speer Financial, Inc.
This being the time and place for the opening of bids for the sale of $5,205,000 General
Obligation Bonds, Taxable Series 2012C, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
1. Robert W. Baird & Co. of Milwaukee, Wisconsin 2.5388%
2. Hutchinson, Shockey, Erley & Co. of Chicago, Illinois 2.5536%
The best bid was determined to be as follows: Robert W. Baird & Co. of Milwaukee,
Wisconsin at a True Interest Rate of 2.5388%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 5, 2012.
June 5, 2012
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 Tuesday, June 5, 2012. Mayor Ernest G. Clark
in the Chair. Roll Call: Jones, Schmitt, Welper, Hart. Absent: Cole, Greenwood,
Getty.
139138 - Hart/Schmitt
that the Agenda, as proposed, for the Regular Session on Tuesday, June 14, 2012,
at 5:30 p.m., be accepted and approved. Voice vote -Ayes: Four. Motion
carried.
139139 - Hart/Schmitt
that copies of Call for the Special Session on Tuesday, June 5, 2012, at 4:30
p.m., be received and placed on file. Voice vote -Ayes: Four. Motion carried.
BOND SALE
139140 - Hart/Schmitt
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $8,040,000 General Obligation Bonds, Series 2012A,
as published in the Waterloo Courier on May 24, 2012, be received and placed on
file. Voice vote -Ayes: Four. Motion carried.
139141 - Hart/Schmitt
that "Resolution directing sale of $8,040,000 General Obligation Bonds, Series
2012A to Piper Jaffray of Leawood, Kansas at a true interest rate of 1.7710%
percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2012-546.
139142 - Schmitt/Hart
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $5,450,000 General Obligation Refunding Bonds,
Series 2012B, as published in the Waterloo Courier on May 24, 2012, be received
and placed on file. Voice vote -Ayes: Four. Motion carried.
139143 Schmitt/Hart
that "Resolution directing sale of $5,450,000 General Obligation Refunding
Bonds, Series 2012B to UMB Bank, n.a. of Kansas City, Missouri at a true
interest rate of 1.0374% percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2012-547.
June 5, 2012 Page 3
139144 - Welper/Hart
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $5,205,000 General Obligation Bonds, Taxable Series
2012C, as published in the Waterloo Courier on May 24, 2012, be received and
placed on file. Voice vote -Ayes: Four. Motion carried.
139145 - Welper/Hart
that "Resolution directing sale of $5,205,000 General Obligation Bonds, Taxable
Series 2012C to Robert W. Baird & Co. of Milwaukee, Wisconsin at a true interest
rate of 2.5388% percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2012-548.
139146 - Jones/Schmitt
that "Resolution authorizing redemption of outstanding General Obligation Bonds,
Series 2003A, of the City of Waterloo, Iowa, dated June 15, 2003; General
Obligation Bonds, Series 2005A, dated June 1, 2005; and General Obligation
Bonds, Taxable Series 2005B, dated June 1 2005 and directing the Notices of
Redemption for the above-named issues", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2012-549.
ADJOURNMENT
139147 - Hart/Schmitt
that the Council adjourn at 4:53 p.m. Voice vote -Ayes: Four. Motion carried.
Suzy Schares
City Clerk