HomeMy WebLinkAbout9/23/2019 - Bond Sale MinutesSTATE OF IOWA, }
Black Hawk County, SS
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
9:30 a.m. on Monday, September 23,
2019, to receive bids and refer the sate 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 Finan-
cial 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 gale of $2,770,000
General Obligation Bonds, Series 2019C,
the City Clerk announced the following
bids were received:
Name of Bidder True Interest Rate
UMB Bank, n.a. 1.7232%
First Bankers' Banc Securities 1.7760%
INTL-FC Stone 1.8006% Robert W. Baird
& Co., Inc. 1.8190%
D.A. Davidson Company 1.9470%
Bemardi Securities, Inc. 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 Finan-
cial and John Murphey, Speer Financial,
Inc., Sharon Juon, Council member,
Jerome Amos, Jr., Council member an[7
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 Ser-
ies 2019D, the City Clerk announced the
following bids were received:
Name of Bidder True Interest Rate
Piper Jaffray & Co. 2.0435%
BOK Financial Securities, Inc. 2.0557%
Bankers' Bank 2.0992%
Robert W. Baird & Co., Inc. 2.1015%
Northland Securities, Inc. 2.1127%
Fifth Third Securities 2.1766%
UMB Bank, n.a. 2.3118%
D.A. Davidson Company 2.3470%
INTL-FC Stone 2.3599%
Bemardi Securities, Inc. 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
adjoumed 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
er, pa xAnndav SP02P mber 23,
v.. ' N
201 layor Quentin Hart in the Chair.
Roll Call: Jacobs, Morrissey, Feuss, Klein,
Amos, and Juon. Absent: Schmitt.
156816 -Schmitt/Morrissey
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. Mo-
tion 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 Obliga-
tion 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.
l
Roll ' ca_ .vote—Ayes:,. Seven- Motion
carried. —
Resolution adopted and upon approval by
Mayor assigned No. 2019-717.
156821 -Morrissey/Nauss -
that "Resolution authorizing redemption nf-
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 Obli-
gation 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.
LeAnn M. Even, CMC, IaCMC
Deputy City Clerk
I do solemnly swear that the annexed copy of legal
City of Waterloo
9/23 Bond Sale Minutes
Notice was published in the Waterloo -Cedar Falls
Courier, a daily newspaper printed in Waterloo, Black
Hawk County, Iowa, once commencing on the 8th day
of October, 2019 in the name of said newspaper, and
that the annexed rate of advertised is the regular legal
rate of said newspaper, and thatthefollowing is a
correct bill for publishing said notice.
Printer's Bill $81.71
luuku. K
Signed
Subscribed and sworn to before me this I I
Day of (J, A.D., 20 Ict
Received of
Notary Public
the sum of
Dollars.
In full for publication of the above notice.
JODI E MCKI 4STRY
COMMISSION NO.782413 'a
MY 10.• . •, 0 yp- -IBES