HomeMy WebLinkAbout2012-546-6/5/2012 (This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 5 2012.
Time of Meeting: 10:00 - 10:30 A.M.
(City officials for Series 2012A)
10:30 - 11:00 A.M. (City officials for Series 2012B)
11:00 - 11:30 A.M. (City officials for Series 2012C)
4:30 P.M. (City Council)
Place of Meeting: City Clerk/Finance Office, City Hall, Waterloo, Iowa.
PUBLIC NOTICE IS HEREBY"GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for the
meeting is as follows:
General Obligation Bonds, Series 2012A
General Obligation Refunding Bonds, Series 2012B
General Obligation Bonds, Taxable Series 2012C
• Resolution directing sale.
Such additional matters as are set forth on the additional 12 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of the governmental body.
Suzy Sell/ es, City Clerk, Waterloo, Iowa
June 5, 2012
The City Council of Waterloo, Iowa, met in special session, in the City
Clerk/Finance Office, City Hall, Waterloo, Iowa, at 10:00 o'clock A.M., on the above
date, to open sealed bids received, access electronic bids and to refer the sale of the bonds
to the best and most favorable bidder for cash, subject to approval by the City Council at
4:30 P.M. on the above date.
The following persons were present:
Michelle Weidner, Suzy Schares, Larry Burger
* * * * * * * *
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This being the time and place for the opening of bids for the sale of General
Obligation Bonds, Series 2012A, the meeting was opened for the receipt of bids for the
bonds. The following actions were taken:
1. Sealed bids were filed and listed in the minutes while unopened, as follows:
Name &Address of Bidders:
2. The City Clerk then declared the time for filing of sealed bids to be closed and that
the sealed bids be opened. The sealed bids were opened and announced.
3. Electronic bids received from 10:00 - 10:30 A.M. were accessed and announced as
follows:
Name & Address of Bidders:
1. Piper Jaffray, Leawood, Kansas
2. FTN Financial Capital Markets, Memphis, Tennessee
3. UMB Bank, n.a., Kansas City, Missouri
4. Robert W. Baird & Co., Milwaukee, Wisconsin
5. Stifel Nicolaus & Co., Inc., Minneapolis, Minnesota
6. Morgan Keegan & Company, Inc., Memphis, Tennessee
7. Hutchinson, Shockey, Erley& Co., Chicago, Illinois
4. The best bid was determined to be as follows:
Name & Address of Bidder: Piper Jaffray, Leawood, Kansas
Principal Amount: $8,040,000.00
Net Interest Rate: 1.771080%
Net Interest Cost: $1,126,262.00
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
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This being the time and place for the opening of bids for the sale of General
Obligation Refunding Bonds, Series 2012B, the meeting was opened for the receipt of
bids for the bonds. The following actions were taken:
1. Sealed bids were filed and listed in the minutes while unopened, as follows:
Name & Address of Bidders:
2. The City Clerk then declared the time for filing of sealed bids to be closed and that
the sealed bids be opened. The sealed bids were opened and announced.
3. Electronic bids received from 10:30 - 11:00 A.M. were accessed and announced as
follows:
Name &Address of Bidders:
1. UMB Bank, n.a., Kansas City, Missouri
2. Piper Jaffray, Leawood, Kansas
3. Bankers' Bank, Madison, Wisconsin
4. FTN Financial Capital Markets, Memphis, Tennessee
5. Stifel Nicolaus & Co., Inc., Minneapolis, Minnesota
6. Robert W. Baird & Co., Milwaukee, Wisconsin
7. Morgan Keegan & Company, Inc., Memphis, Tennessee
8. Hutchinson, Shockey, Erley& Co., Chicago, Illinois
4. The best bid was determined to be as follows:
Name & Address of Bidder: UMB Bank, n.a., Kansas City, Missouri
Principal Amount: $5,450,000.00
Net Interest Rate: 1.037134%
Net Interest Cost: $229,368.38
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All bids were then referred to the Council for action in accordance with the Notice
of Sale.
This being the time and place for the opening of bids for the sale of General
Obligation Refunding Bonds, Taxable Series 2012C, the meeting was opened for the
receipt of bids for the bonds. The following actions were taken:
1. Sealed bids were filed and listed in the minutes while unopened, as follows:
Name & Address of Bidders:
2. The City Clerk then declared the time for filing of sealed bids to be closed and that
the sealed bids be opened. The sealed bids were opened and announced.
3. Electronic bids received from 11:00 - 11:30 A.M. were accessed and announced as
follows:
Name & Address of Bidders:
1. Robert W. Baird & Co., Milwaukee, Wisconsin
2. Hutchinson, Shockey, Erley & Co., Chicago, Illinois
4. The best bid was determined to be as follows:
Name & Address of Bidder: Robert W. Baird & Co., Milwaukee, Wisconsin
Principal Amount: $5,205,000.00
Net Interest Rate: 2.5388%
Net Interest Cost: $1,062,425.46
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
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June 5, 2012
The City Council of Waterloo, Iowa, met in special session, in the Council
Chambers, City Hall, Waterloo, Iowa, at 4:30 P.M., on the above date. There were
present Mayor Ernest G. Clark, in the chair, and the following named Council Members:
Jones, Schmitt, Welper, Hart
Absent: Cole, Getty, Greenwood
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Council Member Hart introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION BONDS, SERIES
2012A," and moved its adoption. Council Member Schmitt seconded the motion to adopt.
The roll was called and the vote was,
AYES: Jones, Schmitt, Welper, Hart
NAYS: none
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 2012-546
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION BONDS, SERIES 2012A
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Series 2012A Bonds described as follows and the best bid received is
determined to be the following:
GENERAL OBLIGATION BONDS, SERIES 2012A:
Bidder: Piper Jaffray of Leawood, Kansas
the terms of said bid being:
Principal Amount: $8,040,000.00
Purchase Price: $8,209,030.75
Net Interest Rate: 1.771080%
Net Interest Cost: $1,126,262.00
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
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Section 1. That the bid for the Series 2012A Bonds as above set out is hereby
determined to be the best and most favorable bid received and, said Series 2012A Bonds
are hereby awarded based on said bid.
Section 2. That the statement of information for bond bidders and the form of
contract for the sale of said Series 2012A Bonds are hereby approved and the Mayor and
Clerk are authorized to execute the same on behalf of the City.
Section 3. That the notice of the sale of the Series 2012A Bonds heretofore given
and all acts of the Clerk done in furtherance of the sale of said Series 2012A Bonds are
hereby ratified and approved.
PASSED AND APPROVED this 5th day of June, 2012.
Lift
Ernest G. Clark, Mayor
ATTEST:
)
Suzy Schare7, City Clerk
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