HomeMy WebLinkAbout2012-547-6/5/2012 Council Member Schmitt introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION REFUNDING
BONDS, SERIES 2012B," and moved its adoption. Council Member Hart 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. 2012-547
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2012B
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Series 2012B Bonds described as follows and the best bid received is
determined to be the following:
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2012B:
Bidder: UMB Bank, n.a. of Kansas City, Missouri
the terms of said bid being:
Principal Amount: $5,450,000.00
Purchase Price: $5,420,079.50
Net Interest Rate: 1.037134%
Net Interest Cost: $229,368.38
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 2012B Bonds as above set out is hereby
determined to be the best and most favorable bid received and, said Series 2012B 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 2012B 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 2012B Bonds heretofore given
and all acts of the Clerk done in furtherance of the sale of said Series 2012B Bonds are
hereby ratified and approved.
PASSED AND APPROVED this 5th day of June, 2012.
Ernest G. Clark, Mayor
AT 1'hST:
Suzy Schares, ity Clerk
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