HomeMy WebLinkAbout6/14/2011 . NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
Ernest G. Clark, Mayor Nap/ Pro - Ter--
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Io
` l
David Jones
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson
David Jones distributing same to him personally.
Suzy Schares, City Clerk
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
z
Ernest G. Clark, Mayor / fr I GYb r Pro-Te-,
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
.II/.411A64Lai
arolyn pr
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson
Carolyn Cole distributing same to him personally.
7Suzy chares, City Clerk
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
]kA 41 _. ik-ke
Ernest G. Clark, Mayor / Mawr r Pr c,-1 ei
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
7C1L -c-<-6 (Lr'( j -e7:4---2//
Harold Getty r
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson
Harold Getty distributing same to him personally.
Suzy Sc ares, City Clerk
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
Ernest G. Clark, Mayor Tevn
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
Quentin Hart
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson
Quentin Hart distributing same to him personally.
Suzy Sclres, City Clerk
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
-
Ernest G. Clark, Mayor /Mayo(ayo( Ir0 T rni
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
-
Ron elper
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson Ron
Welper distributing same to him personally.
Suzy*hares, City Clerk
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
r(76bQ
Ernest G. Clark, Mayor / /V ayor Pro- 141
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
e9' Ste " Schmi •
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson
Steve Schmitt distributing same to him personally.
Suzy Sch es, City Clerk
Bid Opening
June 14, 2011
10:30 a.m.
First Floor Conference Room
1. $9,225,000.00 General Obligation Bonds, Series 2011A
Receive and file sealed bids, BUT NOT OPENED.
City Clerk declared time for filing sealed bids be closed and sealed bids be opened.
City Clerk announced electronic bids received.
Refer to Speer Financial,Inc.
Adjourn to 4:30 p.m.
Suzy Schares
City Clerk
Bid Opening
June 14, 2011
11:00 a.m.
First Floor Conference Room
2. $8,655,000 General Obligation Bonds, Taxable Series 2011B
Receive and file sealed bids,BUT NOT OPENED.
City Clerk declared time for filing sealed bids be closed and sealed bids be opened.
City Clerk announced electronic bids received.
Refer to Speer Financial,Inc.
Adjourn to 4:30 p.m.
Suzy Schares
City Clerk
715 Mulberry Street
Waterloo, IA 50703-5783 CITY OF WATERLOO
319-291-4323 PHONE
319-291-4571 FAX
Fax
To:Teresa Smith From: Suzy Schares, City Clerk
Fax: 515-245-8532 Pages: 16
Phone: Date: 6/15/11
Re: 2004A& B bond redemption CC:
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• Comments:
NOTICE OF SPECIAL MEETING
OF
CITY COUNCIL, CITY OF WATERLOO, IOWA
TO CITY COUNCIL MEMBERS OF THE CITY OF WATERLOO, IOWA:
You are hereby notified that a Special Session of the City Council will be held at 4:30
p.m. on Tuesday, June 14, 2011, in the City Hall Council Chambers, 715 Mulberry Street, on the
sale of $9,225,000.00 General Obligation Bonds, Series 2011A; sale of $8,655,000 General
Obligation Bonds, Taxable Series 2011B; and redemption of outstanding General Obligation
Bonds, Series 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
of Redemption. No other official business will be conducted at said meeting.
Ernest G. Clark, Mayor
Due, timely and legal service of the above notice is hereby accepted the 14th day of June,
2011 by me a dully elected, qualified and acting Councilperson of Waterloo, Iowa.
Bob Greenwood
I, Suzy Schares, hereby certify that I have served the above notice of Councilperson Bob
Greenwood distributing same to him personally.
Suzy Schares, City Clerk
NOTICE OF BOND SALE
STATE OF IOWA, Time and Place of Sealed Bids: Bids for
the sale of General Obligation Bonds of
Black Hawk County the City of Waterloo,Iowa,will be re-
ceived at the office of the City Clerk,City
Hall,715 Mulberry Street,in the City of
Waterloo,Iowa(the"Issuer"),at the re-
I do solemnly swear that the annexed copy of spective times described below,on the
14th day of June,2011. The bids will
1352070 then be publicly opened and referred for
action to the meeting of the City Council
NOTICE OF BOND SALE TIME AND PLACE in conformity with the Terms of Offering.
notice was published in the WATERLOO/CEDAR FALLS COURIER — theBondin The Bonds to be offered are
r the The
GENERAL OBLIGATION BONDS,
a daily newspaper printed in WATERLOO, SERIES 2011A,in the amount of
Hawk County, Iowa, for 1 issues $9,225,000,to be dated the date of de-
Blackcommencing on 06/07/2011, in the issues of GlENERAry(the BONDS
GENERAL OBLIGATION BONDS,TAX-
0 6/0 7/2 011 ABLE SERIES 2011 B,in the amount of
$8,655,000,to be dated the date of de-
livery(the"Taxable Series 2011E
of said newspaper, and that the annexed rate of Bonds").
(hereinafter,the Series 2011A Bonds
advertising is the regular legal rate of said and the Taxable Series 2011E Bonds,
newspaper, and that the following is a correct "Bo
to collectively as the
Adjustment of Principal Amount. The Is-
bell for publishing said notice. suer reserves the right to increase or
decrease the aggregate principal
amount of the Series 2011A Bonds and
'Taxable Series 2011E Bonds at the time
Printer' s Bill $51. 21 of sale,as described in the Terms of
Offering. Any such change will be in in-
crements ot$5,000,and maybe made in
any of the maturities. The purchase I
c.... d(? &
M
price will be adjusted proportionately to
�-1 reflect any change in issue size.
1/ received.f Bidsiwill bep eceived inl any of
��NI��`•••" followi mh
Signed the Sealed Biddingnget: Sealedods: bids may be
submitted and will be received at the of-
fice of the City Clerk,City Hall,715 Mul-
berry Street,Waterloo,Iowa.
•Electronic Internet Bidding: Electronic
internet bids will be received at the office
Subscribed and sworn to before me this of the City Clerk,Waterloo,Iowa. The
bids must be submitted through the
(Speew action competitive bidding sys-
tem//]y / (www.Spe m).
o day O f , V [/ •Electronic Facsimile Bidding:Electron-
ic facsimile bids will be received at the
office of the City Clerk,Waterloo,Iowa
(facsimile number:319/291-4571 or
Abis/291-e6eal Eldread as sealed
` bids will be sealed and treated as sealed
bids.
'7 f - Consideration of Bids: On June 14,
V� 2011,bids shall be received for the Se-
ries 201 IA Bends until 10:30 o'clock
Notary Public A.M.and for th'e Taxable Series 2011B
Bonds until 11:00 o'clock A.M. In each
case,after the time for receipt of bids has
passed,the close of sealed bids will be
announced. Sealed bids will then be
Received of publicly opened and announced. Final-
ly,electronic internet bids will be access-
ed and announced.
Sale and Award: The sale and award of
the sum of Dollars the Bonds will be held at the Council
Chambers,City Hall at a meeting of the
in full for publication of the above invoice. City Council to be held on the above date
at 4:30 o'clock P.M.
Official Statement: The Issuer has is-
sued an Official Statement of information
pertaining-teethe-Benda totie-e'Beret1;in-
cluding statements of the Terms of Of-
Notary Seal : faring and Official Bid Forms for each
series,which is incorporated by refer-
ence as a part of this notice. The Official
Statement may be obtained by request
addressed to the City Clerk,715 Mulber-
ry Street,Waterloo,Iowa 50703(tele-
DEBBIE phone:(319)291-4323)or the financial
S. ARBUCKLE advisor for the Issuer,Speer Financial,
COMMISSION NO. 174$5$ Inc.,531 Commercial Street,Suite 608,
Waterloo,Iowa 50701(telephone:(319)
a MY COM IS ION EXPIRES 291-2077)and Suite 4100,One North
LaSalle Street,Chicago,IL 60602(tele-
phone:(312)346-3700).
Terms of Offering: All bids shall be in
conformity with and the sale shall be in
accord with the Terms of Offering as set
forth in the Official Statement.
Legal Opinion: Said Bonds will be sold
subject to the opinion of Ahlers&Coon-
ey,P.C.,Attorneys of Des Moines,Iowa,
as to the legality and their opinion will be
furnished together with the printed bonds
without cost to the purchaser and all bids
will be so conditioned. Except to the ex-
tent necessary to issue their opinion as
to the legality of the Bonds,the attorneys
will not examine or review or express
any opinion with respect to the accuracy
or completeness of documents,materi-
als or statements made or furnished in
connection with the sale,issuance or
marketing of the Bonds,
Rights Reserved: The right is reserved
to reject any or all bids,and to waive any
irregularities as deemed to be in the best •
interests of the public.
By order of the City Council of the City of
Waterloo,Iowa.
Suzy Schares,City Clerk
_. Waterloo,Iowa
/_ 1� CITY OF WATERLOO , IOWA
,�R
( CITY CLERK AND FINANCE DEPARTMENT
715 Mulberry Street • Waterloo, IA 50703 • (319)291-4323 Fax(319)291-4571
t >
• SUZY SCHARES • City Clerk MICHELLE WEIDNER,CPA • Chief Financial Officer
P7']w s:?<
Mayor
BUCK Council Communication
CLARK City Council Meeting: May 23, 2011 1e
Prepared: May 18, 2011 ' b,
COUNCIL Dept. Head Signature: lzivt�
r Yt�.� r I�C
MEMBERS Number of Attachments: None .,(,$t�) ►' 11(}`f1 1
DAVID SUBJECT: FYE2011 Bond Sale
JONES
Ward 1 Submitted by: Michelle Weidner, Chief Financial Officer
CAROLYN
COLE Recommended City Council Action: I recommend that a resolution be
Ward adopted directing the advertisement for sale of $9,225,000 General Obligation
HAROLD Bonds, Series 2011A and $8,655,000 General Obligation Bonds, Taxable Series
GETTY 2011 B and approving electronic bidding procedures for the sales.
Ward 3
QUENTINM. Summary Statement: As outlined in prior communications, we are planning
HART to sell $7,500,000 in general obligation bonds for general purposes and
Ward 4 $4,000,000 for sewer improvements. We also plan to sell bonds to refund the
bonds issued in 2004. These consist of general obligation bonds, both tax-
RON exempt and taxable and sewer revenue bonds, both tax-exempt and taxable. The
WEEPER refunding issues are done to reduce future interest costs. Please note that the
Ward5 hearing amounts are slightly higher than the actual amounts to be issued to
provide flexibility among the hearings.
BOB
GREENWOOD Expenditure Required: $11,500,000 for new projects and $6,380,000 to
At-Large refund the balance of general obligation bonds issued in 2004. A separate sale
STEVE will be completed later in June for the sewer revenue refunding bond issues.
SCHMITT
At-Large Source of Funds: Repayment will be made from various sources,
including general property taxes, sewer fees and tax increment revenue.
Policy Issue: The issuance of bonds commits the city to future
repayment.
Alternative: The City could choose not to sell bonds and not
proceeds with a number of construction projects.
Background Information: Please refer to prior council communications for
additional information.
CITY WEBSITE: www.cityofwaterlooiowa.com
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
NOTICE OF BOND SALE
Time and Place of Sealed Bids: Bids for the sale of General Obligation Bonds of
the City of Waterloo, Iowa, will be received at the office of the City Clerk, City Hall, 715
Mulberry Street, in the City of Waterloo, Iowa(the "Issuer"), at the respective times
described below, on the 14th day of June, 2011. The bids will then be publicly opened
and referred for action to the meeting of the City Council in conformity with the Terms of
Offering.
The Bonds: The Bonds to be offered are the following:
GENERAL OBLIGATION BONDS, SERIES 2011A, in
the amount of$9,225,000,to be dated the date of delivery
(the "Series 2011A Bonds").
GENERAL OBLIGATION BONDS, TAXABLE SERIES
2011B, in the amount of$8,655,000, to be dated the date of
delivery(the "Taxable Series 2011B Bonds").
(hereinafter, the Series 2011A Bonds and the Taxable
Series 2011B Bonds, may be referred to collectively as the
"Bonds")
Adjustment of Principal Amount. The Issuer reserves the right to increase or
decrease the aggregate principal amount of the Series 2011A Bonds and Taxable Series
2011B Bonds at the time of sale, as described in the Terms of Offering. Any such change
will be in increments of$5,000, and may be made in any of the maturities. The purchase
price will be adjusted proportionately to reflect any change in issue size.
Manner of Bidding: Open bids will not be received. Bids will be received in any
of the following methods:
• Sealed Bidding: Sealed bids may be submitted and will be received at the
office of the City Clerk, City Hall, 715 Mulberry Street, Waterloo, Iowa.
• Electronic Internet Bidding: Electronic internet bids will be received at
the office of the City Clerk, Waterloo, Iowa. The bids must be submitted
through the SpeerAuction competitive bidding system
(www.SpeerAuction.com).
• Electronic Facsimile Bidding: Electronic facsimile bids will be received at
the office of the City Clerk, Waterloo, Iowa(facsimile number: 319/291-
4571 or 319/291-8628). Electronic facsimile bids will be sealed and
treated as sealed bids.
Consideration of Bids: On June 14, 2011, bids shall be received for the Series
2011A Bonds until 10:30 o'clock A.M. and for the Taxable Series 2011B Bonds until
11:00 o'clock A.M. In each case, after the time for receipt of bids has passed, the close of
sealed bids will be announced. Sealed bids will then be publicly opened and announced.
Finally, electronic internet bids will be accessed and announced.
Sale and Award: The sale and award of the Bonds will be held at the Council
Chambers, City Hall at a meeting of the City Council to be held on the above date at 4:30
o'clock P.M.
Official Statement: The Issuer has issued an Official Statement of information
pertaining to the Bonds to be offered, including statements of the Terms of Offering and
Official Bid Forms for each series,which is incorporated by reference as a part of this
notice. The Official Statement may be obtained by request addressed to the City Clerk,
715 Mulberry Street, Waterloo, Iowa 50703 (telephone: (319) 291-4323) or the financial
advisor for the Issuer, Speer Financial, Inc., 531 Commercial Street, Suite 608, Waterloo,
Iowa 50701 (telephone: (319) 291-2077) and Suite 4100, One North LaSalle Street,
Chicago, IL 60602 (telephone: (312) 346-3700).
Terms of Offering: All bids shall be in conformity with and the sale shall be in
accord with the Terms of Offering as set forth in the Official Statement.
Legal Opinion: Said Bonds will be sold subject to the opinion of Ahlers &
Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be
furnished together with the printed bonds without cost to the purchaser and all bids will
be so conditioned. Except to the extent necessary to issue their opinion as to the legality
of the Bonds,the attorneys will not examine or review or express any opinion with
respect to the accuracy or completeness of documents, materials or statements made or
furnished in connection with the sale, issuance or marketing of the Bonds.
Rights Reserved: The right is reserved to reject any or all bids, and to waive any
irregularities as deemed to be in the best interests of the public.
By order of the City Council of the City of Waterloo, Iowa.
Suzy Schares, City Clerk
Waterloo, Iowa
CITY OF WATERLOO IOWA
(w � CITY CLERK AND FINANCE DEPARTMENT
T`�q 715 Mulberry Street • Waterloo, IA 50703 • (319)291-4323 Fax(319)291-4571
SUZY SCHARES • City Clerk MICHELLE WEIDNER,CPA • Chief Financial Officer
�O
Mayor
BUCK Council Communication
CLARK City Council Meeting: June 14, 2011
Prepared: June 9, 2011
Dept. Head Signature: • • '. � ,z��,;
COUNCIL
MEMBERS Number of Attachments: Documents are available in CFO's office
DAVID SUBJECT: Outstanding General Obligation Bonds, Series 2004A
JONES
Ward Submitted by: Michelle Weidner, Chief Financial Officer
CAROLYN
COLE Recommended City Council Action: I recommend that a resolution to
Ward 2 authorize the redemption of the outstanding General Obligation Bonds, Series
HAROLD 2004A, of the City of Waterloo, Iowa, dated June 1, 2004 and directing the Notice
GETTY of Redemption be approved.
Ward 3
Summary Statement: These actions are necessary to approve the
QUENTINM. redemption of the outstanding general obligation bonds originally issued June 1,
HART 2004.
Ward 4
Expenditure Required: N/A
RON
WEEPER Source of Funds: Proceeds of refundingbond issue.
Ward 5
BOB Policy Issue: If these actions are approved, the higher-interest
GREENWOOD bonds will be redeemed and repaid with lower-interest bonds.
At-Large
Alternative: If bonds are not issued, the outstanding bonds that
STEVE were issued at higher interest rates can't be refunded and savings will not be
SCHMITT realized.
At-Large
Background Information: Public hearings and actions authorizing the
intended issuance of bonds to refund this issue were approved by the City
Council at the May 23, 2011 council meeting and the sale of the bonds is
expected to be approved at the June 14, 2011 special council meeting. These
actions are required to complete the issuance of the bonds.
CITY WEBSITE: www.cityofwaterlooiowa.com
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer