HomeMy WebLinkAboutMinutes-06/11/2013June 11, 2013
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 11, 2013,
to receive bids and refer the sale of $5,835,000 General Obligation Bonds, Series 2013A,
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 $5,835,000 General
Obligation Bonds, Series 2013A, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
1. Piper Jaffray of Leawood, Kansas 2.2306%
2. Robert W. Baird & Co. of Milwaukee, Wisconsin 2.3056%
3. FTN Financial Capital Markets of Shelby, Tennessee 2.4411%
4. Hutchinson, Shockey, Erley & Co. of Chicago, Illinois 4.0026%
The best bid was determined to be as follows: Piper Jaffray of Leawood, Kansas at a True
Interest Rate of 2.2306%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 11, 2013.
June 11, 2013
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 11, 2013,
to receive bids and refer the sale of $6,565,000 Taxable General Obligation Bonds, Series
2013B, 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 $6,565,000 Taxable
General Obligation Bonds, Series 2013B, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
1. Robert W. Baird & Co. of Milwaukee, Wisconsin 3.0519%
2. Fifth Third Securities of Cincinnati, Ohio 3.2926%
3. BMO Capital Markets of Chicago, Illinois 3.3883%
4. BOSC, Inc. of Menomonee Falls, Wisconsin 3.4061%
The best bid was determined to be as follows: Robert W. Baird & Co. of Milwaukee,
Wisconsin at a True Interest Rate of 3.0519%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 11, 2013.
The City Clerk of the City of Waterloo, Iowa, met in the First Floor Conference Room,
City Hall, 715 Mulberry Street, Waterloo, Iowa, at 11:30 a.m. on Tuesday, June 11, 2013,
to receive bids and refer the sale of $1,435,000 General Obligation Bonds, Taxable Series
2013D, 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 $1,435,000 General
Obligation Bonds, Taxable Series 2013D, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
1. UMB Bank, n.a. of Kansas City, Missouri 1.9409% (Original)
1.9425% (Revised)
2. BOSC, Inc. of Menomonee Falls, Wisconsin
2.2546%
3. Robert W. Baird & Co. of Milwaukee, Wisconsin 2.2682%
June 11, 2013 Page 2
After the sale, in order to accomplish the refunding, the par amount of the Bonds was
reduced to $1,430,000. The best bid was determined to be as follows: UMB Bank, n. a. of
Kansas City, Missouri at a True Interest Rate of 1.9425%
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 11, 2013.
June 11, 2013
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 11, 2013. Mayor Ernest G. Clark
in the Chair. Roll Call: Jones, Schmitt, Welper, Hart. Absent: Cole, Greenwood,
Getty.
141099 - Hart/Schmitt
that the Agenda, as proposed, for the Special Session on Tuesday, June 11, 2013,
at 4:30 p.m., be accepted and approved. Voice vote -Ayes: Four. Motion
carried.
141100 - Hart/Schmitt
that copies of Call for the Special Session on Tuesday, June 11, 2013, at 4:30
p.m., be received and placed on file. Voice vote -Ayes: Four. Motion carried.
BOND SALE
141101 - Schmitt/Welper
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $5,835,000 General Obligation Bonds, Series 2013A,
as published in the Waterloo Courier on June 3, 2013, be received and placed on
file. Voice vote -Ayes: Four. Motion carried.
141102 - Schmitt/Welper
that "Resolution directing sale of $5,835,000 General Obligation Bonds, Series
2013A to Piper Jaffray of Leawood, Kansas at a true interest rate of 2.2306%
percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-493.
141103 - Schmitt/Welper
that "Resolution to appoint Wells Fargo Bank, National Association, of
Minneapolis, Minnesota, to serve as Paying Agent, Bond Registrar, and Transfer
Agent; approve the Paying Agent and Bond Registrar and Transfer Agent Agreement;
and Authorizing the Execution of the Agreement", be adopted. Roll call vote -
Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-494.
141104 - Schmitt/Welper
that "Resolution to authorize and provide for issuance of said bonds and levying
a tax to pay said bonds", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-495.
141105 - Schmitt/Welper
that the Tax Exemption Certificate, be received, placed on file and approved.
Voice vote -Ayes: Four. Motion carried.
141106 - Schmitt/Welper
that the Continuing Disclosure Certificate, be received, placed on file and
approved. Voice vote -Ayes: Four. Motion carried.
141107 - Hart/Schmitt
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $6,565,000 Taxable General Obligation Bonds, Series
2013B, as published in the Waterloo Courier on June 3, 2013, be received and
placed on file. Voice vote -Ayes: Four. Motion carried.
June 11, 2013 Page 3
141108 - Hart/Schmitt
that "Resolution directing sale of $6,565,000 Taxable General Obligation Bonds,
Series 2013B to Robert W. Baird & Co. of Milwaukee, Wisconsin at a true interest
rate of 3.0519% percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-496.
141109 - Hart/Schmitt
that "Resolution to appoint Wells Fargo Bank, National Association, of
Minneapolis, Minnesota, to serve as Paying Agent, Bond Registrar, and Transfer
Agent; approve the Paying Agent and Bond Registrar and Transfer Agent Agreement;
and Authorizing the Execution of the Agreement", be adopted. Roll call vote -
Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-497.
141110 - Hart/Schmitt
that "Resolution to authorize and provide for issuance of said bonds and levying
a tax to pay said bonds", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-498.
141111 - Hart/Schmitt
that the Continuing Disclosure Certificate, be received, placed on file and
approved. Voice vote -Ayes: Four. Motion carried.
141112 - Welper/Hart
that proof of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $1,430,000 General Obligation Bonds, Taxable Series
2013D, as published in the Waterloo Courier on June 3, 2013, be received and
placed on file. Voice vote -Ayes: Four. Motion carried.
141113 - Welper/Hart
that "Resolution directing sale of $1,430,000 General Obligation Bonds, Taxable
Series 2013D to UMB Bank, n.a. of Kansas City, Missouri at a true interest rate
of 1.9425% percent", be adopted. Roll call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-499.
141114 - Welper/Hart
that "Resolution to appoint Wells Fargo Bank, National Association, of
Minneapolis, Minnesota, to serve as Paying Agent, Bond Registrar, and Transfer
Agent; approve the Paying Agent and Bond Registrar and Transfer Agent Agreement;
and Authorizing the Execution of the Agreement", be adopted. Roll call vote -
Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-500.
141115 - Welper/Hart
that "Resolution to authorize and provide for issuance of said bonds and levying
a tax to pay said bonds; and approval of Refunding Trust Agreement securing the
advance refunding of General Obligation Bonds, Series 2006B", be adopted. Roll
call vote -Ayes: Four.
Resolution adopted and upon approval by Mayor assigned No. 2013-501.
141116 - Welper/Hart
that the Continuing Disclosure Certificate, be received, placed on file and
approved. Voice vote -Ayes: Four. Motion carried.
ADJOURNMENT
141117 - Hart/Schmitt
that the Council adjourn at 4:53 p.m. Voice vote -Ayes: Four. Motion carried.
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