HomeMy WebLinkAbout2018-353 Proceedings - 5/22/2018ITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
General Obligation Bonds, Series 2010A (Taxable Build America Bonds)
Resolution Authorizing the Redemption of Outstanding. General Obligation Bonds,
Series 2010A (Taxable Build America. Bonds), dated June 29, 2010.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
May 22, 2018
The City Council of the City of Waterloo, State of Iowa, met in special session, in the
Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 4:30 P.M., on the above
date. There were present Mayor Quentin Hart, in the chair, and the following named Council
Members:
Bruce Jacobs, Patrick Morrissey, Margaret Klein, Jerome Amos,
Steve Schmitt, and Sharon Juon
Absent: Chris Shimp
Vacant: None
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Council Member Juon introduced the following Resolution entitled "A RESOLUTION
AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION
BONDS, SERIES 2010A (TAXABLE BUILD AMERICA BONDS), OF THE CITY OF
WATERLOO, STATE OF IOWA, DATED JUNE 29, 2010, AND DIRECTING NOTICE BE
GIVEN" and moved its adoption. Council Member Schmitt seconded the motion to adopt. The
roll was called and the vote was,
AYES: Jacobs, Morrissey, Klein, Amos Schmitt, Juon
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2018-353
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION BONDS, SERIES
2010A (TAXABLE BUILD AMERICA BONDS), OF THE CITY
OF WATERLOO, STATE OF IOWA, DATED JUNE 29, 2010,
AND DIRECTING NOTICE BE GIVEN
WHEREAS, the City did by resolution dated June 14, 2010, authorize the issuance of
$9,165,000 General Obligation Bonds, Series 2010A (Taxable Build America Bonds), (the
"Bonds") dated June 29, 2010; and
WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2018
or any date thereafter upon giving notice in the manner provided in the resolution authorizing the
issuance of the Bonds; and
WHEREAS, it is deemed necessary and advisable that $3,510,000 be so redeemed on
June 26, 2018 and notice of redemption be given according to the terms of the resolution
authorizing issuance of the Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
Section 1. That outstanding General Obligation Bonds, dated June 29, 2010, in the
principal amount of $3,510,000, be and the same are hereby redeemed as of June 26, 2018.
Section 2. The Registrar and Paying Agent, Wells Fargo Bank, National Association, is
hereby authorized and directed to cause notice of such redemption be given not less than thirty
(3 0) days prior to the redemption date and to cause notice of redemption to be mailed to the
registered owners of the Bonds by ordinary mail, and to notify DTC.
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Section 3. The Chief Financial Officer is hereby authorized and directed to cause to be
deposited in a separate fund such sum as is sufficient to pay all principal and interest on the
redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post
the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the
refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds.
Section 4. That the form of such notice be substantially as follows:
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NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE
FOLLOWING DESCRIBED BONDS:
Please take notice that the Bonds described below have been called for redemption.
Owners of the Bonds should present their Bonds for payment on the redemption date.
Issuer: City of Waterloo, State of Iowa
Original Issue Amount: $9,165,000
Bond Issue: General Obligation Bonds, Series 2010A (Taxable Build America Bonds)
Dated Date: June 29, 2010
Redemption Date: June 26, 2018
Redemption Price: Par, plus accrued interest
Bonds Called for Redemption
CUSIP
Bond
Principal
Interest
Maturity
Numbers
Numbers
Amount
Rate
Date
941647 JJ9
9
$510,000
4.400
June 1, 2019
941647 JK6
10
$500,000
4.600
June 1, 2020
941647 JL4
11
$460,000
4.800
June 1, 2021
941647 JM2
12
$480,000
5.000
June 1, 2022
941647 JNO
13
$500,000
5.000
June 1, 2023
941647 JP5
14
$515,000
5.000
June 1, 2024
941647 JQ3
15
$545,000
5.000
June 1, 2025
No representation is made as to the accuracy of the CUSIP numbers printed herein or on
the Bonds.
The above Bonds should be presented to Wells Fargo Bank, National Association,
Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest
will cease to accrue on the Redemption Date.
WELLS FARGO BANK, NATIONAL
ASSOCIATION, Minneapolis, Minnesota
(End of Notice)
In
PASSED AND APPROVED this 22"d day of May, 2018.
t
Quentin Hart, Mayor
ATTEST: --
Kelley Felchli, City Clerk
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CERTIFICATE
STATE OF IOWA )
) SS
COUNTY OF BLACK HAWK )
I, the undersigned City Clerk of the City of Waterloo, State of Iowa, do hereby certify
that attached is a true and complete copy of the portion of the records of the City showing
proceedings of the Council, and the same is a true and complete copy of the action taken by the
Council with respect to the matter at the meeting held on the date indicated in the attachment,
which proceedings remain in full force and effect, and have not been amended or rescinded in
any way; that meeting and all action thereat was duly and publicly held in accordance with a
notice of meeting and tentative agenda, a copy of which was timely served on each member of
the Council and posted on a bulletin board or other prominent place easily accessible to the
public and clearly designated for that purpose at the principal office of the Council pursuant to
the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable
advance notice to the public and media at least twenty-four hours prior to the commencement of
the meeting as required by law and with members of the public present in attendance; I further
certify that the individuals named therein were on the date thereof duly and lawfully possessed of
their respective City offices as indicated therein, that no Council vacancy existed except as may
be stated in the proceedings, and that no controversy or litigation is pending, prayed or
threatened involving the incorporation, organization, existence or boundaries of the City or the
right of the individuals named therein as officers to their respective positions.
W TNESS my hand and the seal of the Council ereto affi d his,&7"" day of
2018. �4�
Kelley Fe e, City Clerk, City of Waterloo,
State of Ic9va
01453209-1\11310-122