HomeMy WebLinkAbout2007-452-6/6/2007 T
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 6 , 2007.
Time of Meeting: 4 : 3 0 o'clock P.M.
Place of Meeting: Council Chambers, 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 said
meeting is as follows:
$3,675,000 General Obligation Refunding Bonds, Series 2007B
• Resolution directing sale.
Such additional matters as are set forth on the additional 7 page(s) attached hereto.
(number)
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
City Clerk, Waterloo, Iowa
Nancy Eckert
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June 6 , 2007
The City Clerk of Waterloo, Iowa, met in the City Clerk's office, City Hall,
Waterloo, Iowa, at o • 15 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 o'clock P.M. on the
above date.
The following persons were present:
Nancy Eckert, City Clerk, Michelle Weidner, CFO,
Larry Burger, Speer Financial Inc
Absent:
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This being the time and place for the opening of bids for the sale of$3,675,000
General Obligation Refunding Bonds, Series 2007B, 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:
none
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 were accessed and announced as follows:
Name & Address of Bidders:
Piper Jaffray, Minneapolis, Minnesota
Boenning & Scattergood, Conshohocken, Pennsylvania
4. The best bid was determined to be as follows:
Piper Jaffray
Name & Address of Bidder: Minneapolis, Minnesota
Principal Amount: $ 3. 6 7 5 0 0 0 . 0 0
True Interest Cost: $ 694, 180 . 75
True Interest Rate: 4 .0340 %
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
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June 6 2007
The City Council of Waterloo, Iowa,met in_.special session, in the Council
Chambers, City Hall, Waterloo, Iowa, at 4 : 30 o'clock P .M., on the above date.
There were present Mayor_ m;m Hurl �7 , in the chair, and the
following named Council Members:
Kincaid, Welper, Gunderson, Getty, Cole, Schmitt
Absent: Greenwood
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Council Member Gunderson introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $3,675,000 GENERAL
OBLIGATION REFUNDING BONDS, SERIES 200713" and moved its adoption.
Council Member Vole seconded the motion to adopt. The roll
was called and the vote was,
AYES: Kincaid, Welper, Gunderson Getty, co e,
Schmitt
NAYS: none
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 2007-452
RESOLUTION DIRECTING SALE OF $3,675,000
GENERAL OBLIGATION REFUNDING BONDS, SERIES
2007B
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Bonds described as follows and the best bid received is determined to
be the following:
$3,675,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 2007B:
Bidder: Piper Jaffray of Minneapolis, Minnesota
the terms of said bid being:
Principal Amount: $ 3, 675, 000 .00
Purchase Price: $ 3, 669, 819 . 25
True Interest Rate: 4 . 0340
True Interest Cost: $ 694 , 180 . 75
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
Section 1. That the bid for the Bonds as above set out is hereby determined to be
the best and most favorable bid received and, said Bonds are hereby awarded based on
said bid.
Section 2. That the form of contract for the sale of said Bonds is 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 Bonds heretofore given and all acts of
the Clerk and Chief Financial Officer done in furtherance of the sale of said Bonds are
hereby ratified and approved.
Section 4. That the preliminary Official Statement in the form presented to this
meeting be and the same hereby is approved as to form and deemed final for purposes of
Rule 15c2-12 of the Securities and Exchange Commission, subject to such revisions,
corrections or modifications as the Chief Financial Officer, upon the advice of bond
counsel and the City's financial consultant, shall determine to be appropriate, and is
authorized to be distributed in connection with the offering of the Bonds for sale.
PASSED AND APPROVED, this 6th day of ,Tune , 2007.
Mayor Tim Hurley
ATTEST:
City "lerk N ncy Eckert
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CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
) SS
COUNTY OF BLACK HAWK )
I, the undersigned City Clerk of Waterloo, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said 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 (a copy of the face sheet of said agenda
being attached hereto) 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 said
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 said 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 said Municipality hereto affixed this 8th
day of ,June , 2007.
City Clerk, W rloo, Iowa
Nancy Eck
SEAL
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