HomeMy WebLinkAbout2020-374-05/26/2020-(General Obligation Bond 2012C)
ITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
General Obligations Bonds, Taxable Series 2012C
Resolution Authorizing the Redemption of Outstanding General Obligations Bonds,
Taxable Series 2012C, dated July 25, 2012.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
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May 26, 2020
The City Council of the City of Waterloo, State of Iowa, met in regular session, via
electronic means, an in-person meeting being impossible or impractical due to the COVID-19
pandemic, at 5:30 P.M., on the above date. There were present Mayor Quentin M. Hart, in the
chair, and the following named Council Members:
Grieder, Juon, Boesen, Amos, Morrissey, Klein, Feuss
Absent: None
Vacant: None
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Council Member Klein introduced the following Resolution entitled "A RESOLUTION
AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATIONS
BONDS, TAXABLE SERIES 2012C, OF THE CITY OF WATERLOO, STATE OF IOWA,
DATED JULY 25, 2012, 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: Grieder, Juon, Boesen, Amos, Morrissey, Klein, Feuss
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2020-374
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATIONS BONDS,
TAXABLE SERIES 2012C, OF THE CITY OF WATERLOO,
STATE OF IOWA, DATED JULY 25, 2012, AND DIRECTING
NOTICE BE GIVEN
WHEREAS, the City did by resolution dated July 9, 2012, authorize the issuance of
$5,205,000 General Obligations Bonds, Taxable Series 2012C, (the "Bonds") dated July 25,
2012; and
WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2020
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 $2,225,000 be so redeemed on
July 3, 2020 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 Obligations Bonds, dated July 25, 2012, in the
principal amount of $2,225,000, be and the same are hereby redeemed as of July 3, 2020.
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 certified mail, and to notify DTC.
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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
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: $5,205,000
Bond Issue: General Obligations Bonds, Taxable Series 2012C
Dated Date: July 25, 2012
Redemption Date: July 3, 2020
Redemption Price: Par, plus accrued interest
Bonds Called for Redemption
CUSIP
Numbers
Bond
Numbers
Principal
Amount
Interest
Rate
Maturity
Date
941647 MX4 9 $295,000 2.200% 2021
941647 MY2 10 $300,000 2.450% 2022
941647 MZ9 11 $310,000 2.750% 2023
941647 NA3 12 $320,000 3.000% 2024
941647 NB1 13 $325,000 3.100% 2025
941647 NC9 14 $335,000 3.250% 2026
941647 ND7 15 $340,000 3.500% 2027
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 26th day of May 2020.
Sharon Juon, Mayor Pro Tem
ATTEST:
Kelley Felchle, City Clerk
CERTIFICATE
STATE OF IOWA
COUNTY OF BLACK HAWK
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) SS
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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 26th day of May, 2020.
(SEAL)
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa