HomeMy WebLinkAbout2019-718-09/23/2019 ITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
General Obligation Bonds, Series 2011A
• Resolution Authorizing the Redemption of Outstanding General Obligation Bonds,
Series 201 1A, dated June 29, 2011.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
September 23, 2019
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 5:20 P.M., on the above
date. There were present Mayor Quentin M. Hart, in the chair, and the following named Council
Members:
Jacobs, Morrissey, Feuss, Klein, Amos, Schmitt, Juon
Absent: None
Vacant: None
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Council Member Morrissey introduced the following Resolution entitled "A
RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL
OBLIGATION BONDS, SERIES 2011A, OF THE CITY OF WATERLOO, STATE OF IOWA,
DATED JUNE 29, 2011, AND DIRECTING NOTICE BE GIVEN" and moved its adoption.
Council Member Feuss seconded the motion to adopt. The roll was called and the vote was,
AYES: Jacobs, Morrissey, Feuss, Klein, Amos, Schmitt, Juon
NAYS: None
Whereupon,the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2019-718
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION BONDS, SERIES
2011A, OF THE CITY OF WATERLOO, STATE OF IOWA,
DATED JUNE 29, 2011, AND DIRECTING NOTICE BE GIVEN
WHEREAS, the City did by resolution dated June 20, 2011, authorize the issuance of
$8,985,000 General Obligation Bonds, Series 2011A, (the "Bonds") dated June 29, 2011; and
WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2019
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 $2,715,000 be so redeemed on
October 30, 2019 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, 2011, in the
principal amount of$2,715,000, be and the same are hereby redeemed as of October 30, 2019.
Section 2. The Registrar and Paying Agent, Wells Fargo Bank,NA, is hereby authorized
and directed to cause notice of such redemption be given not less than thirty (30) 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.
Section 3. The Chief Finance Officer is hereby authorized and directed to cause to be
deposited in a separate fund such sum that 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
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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: $8,985,000
Bond Issue: General Obligation Bonds, Series 201 1A
Dated Date: June 29, 2011
Redemption Date: October 30, 2019
Redemption Price: Par,plus accrued interest
Bonds Called for Redemption
CUSIP Bond Principal Interest Maturity
Numbers Numbers Amount Rate Date
941647 KS7 9 $365,000 4.000% 2020
941647 KT5 10 $370,000 4.000% 2021
941647 KU2 11 $380,000 4.000% 2022
941647 KVO 12 $385,000 4.000% 2023
941647 KW8 13 $395,000 4.000% 2024
941647 KX6 14 $405,000 4.000% 2025
941647 KY4 15 $415,000 4.000% 2026
No representation is made as to the accuracy of the CUSIP numbers printed herein or on
the Bonds.
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The above Bonds should be presented to Wells Fargo Bank,NA, Minneapolis,
Minnesota. This represents a full call of the outstanding obligations. All interest will cease to
accrue on the Redemption Date.
WELLS FARGO BANK,NA, Minneapolis,
Minnesota
(End of Notice)
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PASSED AND APPROVED this 23`d day of September, 2019.
DA LV+7
Quentin M. Hart, Mayor
ATTEST:
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LeAnn . Even, eputy 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.
WITNESS my hand and the seal of the Council hereto affixed this 24th day of September,
2019. lJ� r
Le M. Eves Deputy City Clerk, City of
Water o, State of Iowa
(SEAL) _
01631279-1\11310-132