HomeMy WebLinkAbout05.19.21.bond sale minutes template May 19, 2021
The City Clerk of the City of Waterloo, Iowa, met in the first floor conference room at City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 10:30 a.m. on May 19, 2021, to receive bids and refer the sale of$14,370,000 General
Obligation Bonds, Series 2021A, to the best and most favorable bidder for cash, subject to approval of the City
Council at 5:00 p.m. on the above date. The following persons were present at said meeting: Michelle Weidner,
Chief Financial Officer, Maggie Burger, Sr. Vice President Speer Financial and John Murphey, Speer Financial,
Inc.,Margaret Klein, Council member,Jonathan Grieder,Council member,Dave Boesen,Council member, Chris
Youngblut, Management Information Services Director, and Kelley Felchle, City Clerk.
This being the time and place for the opening of bids for the sale of$14,370,000 General Obligation Bonds, Series
2021A, the City Clerk announced the following bids were received:
Name of Bidder True Interest Rate
FHN Financial Securities Corp.,New York, New York........................................................... 1.4480%
Robert W. Baird & Co., Inc., Milwaukee, Wisconsin............................................................... 1.4959%
UMB Bank, n.a., New York,New York.................................................................................... 1.5159%
The best bid was determined to be as follows FHN Financial Securities Corp., New York, New York, at a True
Interest Rate of 1.4480%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 5:00 p.m. in the City Hall
Council Chambers on May 19, 2021.
May 19, 2021
The City Clerk of the City of Waterloo, Iowa, met in the first floor conference room at City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 11:00 a.m. on May 19, 2021, to receive bids and refer the sale of$8,610,000 General
Obligation Bonds, Series 2021B, to the best and most favorable bidder for cash, subject to approval of the City
Council at 5:00 p.m. on the above date. The following persons were present at said meeting: Michelle Weidner,
Chief Financial Officer, Maggie Burger, Sr. Vice President Speer Financial and John Murphey, Speer Financial,
Inc.,Margaret Klein, Council member,Jonathan Grieder,Council member,Dave Boesen,Council member, Chris
Youngblut, Management Information Services Director, and Kelley Felchle, City Clerk.
This being the time and place for the opening of bids for the sale of$8,610,000 General Obligation Bonds, Series
2021B, the City Clerk announced the following bids were received:
Name of Bidder True Interest Rate
Piper Sandler& Co., Chicago, Illinois ...................................................................................... 1.6088%
UMB Bank, n.a., Kansas City, Missouri.................................................................................... 1.6126%
Fifth Third Securities, Inc., Cincinnati, Ohio ............................................................................ 1.6281%
Robert W. Baird & Co., Inc., Milwaukee, Wisconsin............................................................... 1.6319%
Raymond James &Associates, Inc., Memphis, Tennessee....................................................... 1.6715%
BOK Financial Securities, Inc., Milwuakee, Wisconsin........................................................... 1.7106%
The best bid was determined to be as follows Piper Sandler & Co., Chicago, Illinois, at a True Interest Rate of
1.6088%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to 5:00 p.m. in the City Hall
Council Chambers on May 19, 2021.
May 19, 2021
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Council Chambers, Waterloo,
Iowa, at 5:00 p.m., on Wednesday, May 19, 2021. Mayor Quentin Hart in the Chair. Roll Call: Boesen, Amos,
Klein, Grieder, and Juon. Absent: Morrissey and Feuss.
160016 - Juon/Amos
that the Agenda, as proposed, for the Special Session on May 19, 2021, at 5:00 p.m.,be accepted and
approved. Voice vote-Ayes: Five. Motion carried.
160017 - Amos/Grieder
May 19, 2021 Page 2
Motion to receive and file copies of calls. Voice vote-Ayes: Five. Motion carried.
Maggie Burger, Speer Financial, gave a presentation on the bids received and the city's new bond
rating established by Moody's earlier this month.
BOND SALE
160018 - Boesen/Grieder
that proof of publication of Notice of Sale on consideration of the proposition of issuance of General
Obligation Bonds, Series 2021A, as published in the Waterloo Courier on May 5, 2021, be received
and placed on file. Voice vote-Ayes: Five. Motion carried.
160019 - Boesen/Grieder
that "Resolution directing sale of $14,370,000 General Obligation Bonds, Series 2021A to FHN
Financial Securities Corp., of New York, New York at a rate of 1.4480% be adopted. Roll call vote-
Ayes: Five. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2021-343.
160020 - Boesen/Grieder
that proof of publication of Notice of Sale on consideration of the proposition of issuance of General
Obligation Bonds, Series 2021B, as published in the Waterloo Courier on May 5, 2021, be received
and placed on file. Voice vote-Ayes: Five. Motion carried.
160021 - Boesen/Grieder
that"Resolution directing sale of$8,610,000 General Obligation Bonds, Series 2021B to Piper Sandler
& Co., of Chicago, IL at a rate of 1.6088%be adopted. Roll call vote-Ayes: Five. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2021-344.
160022 - Amos/Grieder
Resolution authorizing redemption of outstanding general obligation bonds of the City of Waterloo,
Iowa, Series 2012A, dated June 28,2012 and directing the Notice of Redemption for the above-named
issues. Roll call vote-Ayes: Five. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2021-345.
160023 - Amos/Grieder
Resolution authorizing redemption of outstanding general obligation bonds of the City of Waterloo,
Iowa,Series 2013A, dated June 27, 2013 and directing the Notice of Redemption for the above-named
issues. Roll call vote-Ayes: Five. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2021-346.
160024 - Amos/Grieder
Resolution authorizing redemption of outstanding general obligation bonds of the City of Waterloo,
Iowa,Series 2013B, dated June 27,2013 and directing the Notice of Redemption for the above-named
issues. Roll call vote-Ayes: Five. Motion carried.
Resolution adopted and upon approval by Mayor assigned No. 2021-347.
ADJOURNMENT
160025 - Boesen/Grieder
that the Council adjourn at 5:23 p.m. Voice vote-Ayes: Five. Motion carried.
May 19, 2021 Page 3
Kelley �elchle �
Kelley Felchle
City Clerk