HomeMy WebLinkAboutSeptember 23, 2019September 23, 2019
The City Clerk of the City of Waterloo, Iowa, met in the Mayor's Office, City Hall, 715 Mulberry Street,
Waterloo, Iowa, at 9:30 a.m. on Monday, September 23, 2019, to receive bids and refer the sale of $2,770,000
General Obligation Bonds, Series 2019C, to the best and most favorable bidder for cash, subject to approval of
the City Council at 5:20 p.m. on the above date. The following persons were present at said meeting: Michelle
Weidner, Chief Financial Officer, Maggie Burger, Sr. Vice President Speer Financial and John Murphey, Speer
Financial, Inc., Sharon Juon, Council member, Jerome Amos Jr., Council member, and Kelley Felchle, City
Clerk.
This being the time and place for the opening of bids for the sale of $2,770,000 General Obligation Bonds,
Series 2019C, the City Clerk announced the following bids were received:
Name of Bidder
UMB Bank, n.a.
First Bankers' Banc Securities
INTL-FC Stone
Robert W. Baird & Co., Inc.
D.A. Davidson Company
Bernardi Securities, Inc.
True Interest Rate
1.7232%
1.7760%
1.8006%
1.8190%
1.9470%
2.0485%
The best bid was determined to be as follows: UMB Bank, n.a., Kansas City, Missouri, at a True Interest Rate
of 1.7232%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 5:20 p.m. in the City
Hall Council Chambers on September 23, 2019.
September 23, 2019
The City Clerk of the City of Waterloo, Iowa, met in the Mayor's Office, City Hall, 715 Mulberry Street,
Waterloo, Iowa, at 10:00 a.m. on Monday, September 23, 2019, to receive bids and refer the sale of $3,625,000
General Obligation Bonds, Taxable Series 2019D, to the best and most favorable bidder for cash, subject to
approval of the City Council at 5:20 p.m. on the above date. The following persons were present at said
meeting: Michelle Weidner, Chief Financial Officer, Maggie Burger, Sr. Vice President Speer Financial and
John Murphey, Speer Financial, Inc., Sharon Juon, Council member, Jerome Amos, Jr., Council member and
Kelley Felchle, City Clerk.
This being the time and place for the opening of bids for the sale of $3,625,000 General Obligation Bonds,
Taxable Series 2019D, the City Clerk announced the following bids were received:
Name of Bidder
Piper Jaffray & Co.
BOK Financial Securities, Inc.
Bankers' Bank
Robert W. Baird & Co., Inc.
Northland Securities, .Inc.
Fifth Third Securities
UMB Bank, n.a.
D.A. Davidson Company
INTL-FC Stone
Bernardi Securities, Inc.
True Interest Rate
2.0435%
2.0557%
2.0992%
2.1015%
2.1127%
2.1766%
2.3118%
2.3470%
2.3599%
2.4480%
The best bid was determined to be as follows: Piper Jaffray & Co., Minneapolis, Minnesota at a True Interest
Rate of 2.0435%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 5:20 p.m. in the City
Hall Council Chambers on September 23, 2019.
September 23, 2019
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Council Chambers, Waterloo,
Iowa, at 5:20 p.m., on Monday, September 23, 2019. Mayor Quentin Hart in the Chair. Roll Call: Jacobs,
Morrissey, Feuss, Klein, Amos, and Juon. Absent: Schmitt.
156816 - Schmitt/Morrissey
September 23, 2018 Page 2
that the Agenda, as proposed, for the Special Session on Monday, September 23, 2019, at 5:20 p.m.,
be accepted and approved. Voice vote -Ayes: Seven. Motion carried.
Presentation by Speer Financial on the bids received for General Obligation Bonds Series 2019 C
and Series 2019 D and the City of Waterloo's bond rating. Council discussed the General
Obligation Bonds Series 2019C and Series 2019D and the City of Waterloo's bond rating.
BOND SALE
156817 - Morrissey/Feuss
that proof of publication of Notice of Sale on consideration of the proposition of issuance of General
Obligation Bonds, Series 2019C, as published in the Waterloo Courier on September 13, 2019, be
received and placed on file. Voice vote -Ayes: Seven. Motion carried.
156818 - Morrissey/Feuss
that "Resolution directing sale of $2,770,000 General Obligation Bonds, Series 2019C to UMB
Bank, n.a., at a rate of 1.7232%", be adopted. Roll call vote -Ayes: Seven. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2019-716.
156819 - Morrissey/Feuss
that proof of publication of Notice of Sale on consideration of the proposition of issuance of
$3,645,000 General Obligation Bonds, Taxable Series 2019D, as published in the Waterloo Courier
on September 13, 2019, be received and placed on file. Voice vote -Ayes: Seven. Motion carried.
156820 - Morrissey/Feuss
that "Resolution directing sale of $3,625,000 General Obligation Bonds, Taxable Series 2019D to
Piper Jaffray & Co. at a rate of 2.0435%", be adopted. Roll call vote -Ayes: Seven. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2019-717.
156821 - Morrissey/Feuss
that "Resolution authorizing redemption of outstanding General Obligation Bonds, Series 2011A, of
the City of Waterloo, Iowa, dated June 29, 2011, and directing the Notice of Redemption for the
above named issue, be adopted. Roll call vote -Ayes: Seven. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2019-718.
156822 - that "Resolution authorizing redemption of outstanding General Obligation Bonds, Series 2011B, of
the city of Waterloo, Iowa, dated June 29, 2011, and directing the Notice of Redemption for the
above named issue, be adopted. Roll call vote -Ayes: Seven. Motion carried
Resolution adopted and upon approval by Mayor assigned No. 2019-719.
ADJOURNMENT
156823 - Schmitt/Morrissey
that the Council adjourn at 5:33 p.m. Voice vote -Ayes: Seven. Motion carried.
Le M. Eve 1, CMC, IaCMC
Depu City Clerk