HomeMy WebLinkAboutMinutes-May 22, 2018 May 22, 2018
The City Clerk of the City of Waterloo, Iowa, met in the Mayor's Office, 715 Mulberry Street, Waterloo, Iowa,
at 10:00 a.m. on Tuesday, May 22, 2018, to receive bids and refer the sale of$10,505,000 General Obligation
Bonds, Series 2018A, 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, Maggie Burger, Sr. Vice President and Larry Burger, President of Speer Financial, Inc., and
Kelley Felchle, City Clerk.
This being the time and place for the opening of bids for the sale of$10,505,000 General Obligation Bonds, Series
2018A,the City Clerk announced the following bids were received:
Name of Bidder True Interest Rate
1. FTN Financial Capital Markets,New York,New York 2.983411%
2. Hutchinson, Shockey, Erley & Co., Chicago, Illinois 2.952844%
3. Robert W. Baird& Co., Inc., Milwaukee, Wisconsin 2.929549%
The best bid was determined to be as follows: Robert W. Baird& Co., Inc., of Milwaukee, Wisconsin, at a True
Interest Rate of 2.929549%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 4:30 p.m. in the City Hall
Council Chambers on May 22, 2018.
May 22, 2018
The City Clerk of the City of Waterloo, Iowa, met in the Mayor's Office, 715 Mulberry Street, Waterloo, Iowa,
at 10:30 a.m. on Tuesday, May 22, 2018, to receive bids and refer the sale of $1,070,000 Taxable General
Obligation Bonds, Series 2018B, 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, Maggie Burger, Sr. Vice President and Larry Burger, President of Speer Financial, Inc.,
and Kelley Felchle, City Clerk.
This being the time and place for the opening of bids for the sale of $1,070,000 Taxable General Obligation
Bonds, Series 2018B, the City Clerk announced the following bids were received:
Name of Bidder True Interest Rate
1. UMB Bank, n.a., Kansas City, Missouri 3.411506%
2. Piper Jaffry& Co., Minneapolis, Minnesota 3.511172%
3. Robert W. Baird & Co., Inc. Milwaukee, Wisconsin 3.772151%
2. Bernardi Securities, Inc., Chicago, Illinois 3.676972%
3. BOK Financial Securities, Inc. Milwaukee, Wisconsin 3.850456%
The best bid was determined to be as follows: UMB Bank, n.a., of Kansas City, Missouri at a True Interest Rate
of 3.411506%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 4:30 p.m. in the City Hall
Council Chambers on May 22, 2018.
May 22, 2018
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, May 22, 2018. Mayor Quentin Hart in the Chair. Roll Call: Jacobs, Morrissey,
Klein, Amos, Schmitt, and Juon. Absent: Shimp
May 22, 2018 Page 2
147047 - Juon/Schmitt
that the Agenda, as proposed, for the Special Session on Tuesday, May 22, 2018, at 4:30 p.m., be
accepted and approved. Voice vote-Ayes: Six. Motion carried.
Presentation by Speer Financial.
147048 - Juon/Schmitt
that "Resolution authorizing the redemption of outstanding General Obligation Bonds, Series 2010A
(Taxable Build America Bonds), dated June 29, 2010 and directing Notice of Redemption be given",
be adopted. Roll call vote-Ayes: Six.
Resolution adopted and upon approval by Mayor assigned No. 2018-353.
BOND SALE
147049 - Morrissey/Juon
that copies of Call for the Special Session on Tuesday, May 22, 2018, at 4:30 p.m., be received and
placed on file. Voice vote-Ayes: Six. Motion carried.
147050 - Morrissey/Amos
that proof of publication of Notice of Sale on consideration of the proposition of issuance of not to
exceed $10,505,000 General Obligation Bonds, Series 2018A, as published in the Waterloo Courier
on May 7, 2018, be received and placed on file. Voice vote-Ayes: Six. Motion carried.
147051 - Morrissey/Amos
that "Resolution directing sale of$10,505,000 General Obligation Bonds, Series 2018A to _Robert
W. Baird & Co., of Milwaukee, Wisconsin at a rate of 2.9295%", be adopted. Roll call vote-Ayes:
Six. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2018-354.
147052 - Morrissey/Amos
that proof of publication of Notice of Sale on consideration of the proposition of issuance of not to
exceed $1,070,000 Taxable General Obligation Bonds, Series 2018B, as published in the Waterloo
Courier on May 11, 2016, be received and placed on file. Voice vote-Ayes: Six. Motion carried.
147053 - Morrissey/Amos
that "Resolution directing sale of $1,070,000 Taxable General Obligation Bonds, Series2018B to
UMB Bank, n.a., of Kansas City, Missouri at a rate of 3.4115%", be adopted. Roll call vote-Ayes:
Six. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2018-355.
ADJOURNMENT
147054 - Juon/Amos
that the Council adjourn at 5:07 p.m. Voice vote-Ayes: Six. Motion carried.
Kelley Felc e
City Clerk