HomeMy WebLinkAbout2005-520-06.13.2005 . 4
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 13 , 2005.
Time of Meeting: 5 : 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:
• Resolution Authorizing the Redemption of Outstanding General Obligation
Bonds, Series 1997, dated June 1, 1997.
Such additional matters as are set forth on the additional 8 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.
fas2i
City Clerk, Wat r oo, Iowa
Nancy Eckert , CMC
•
June 13 , 2005
The City Council of Waterloo, Iowa, met in Regular session, in the Council
Chambers, City Hall, Waterloo, Iowa, at 5 : 3 0 o'clock p .M., on the above date.
There were present Mayor Tim Hurley , in the chair, and the following
named Council Members:
Kincaid, Greenwood, Clark, Schmitt , Gunderson , Welper
Absent:
Cole
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Council Member Gunderson introduced the following Resolution
entitled "RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING
GENERAL OBLIGATION BONDS, SERIES 1997, OF THE CITY OF WATERLOO,
IOWA, DATED JUNE 1, 1997, AND DIRECTING NOTICE OF REDEMPTION," and
moved its adoption. Council Member s c hm i t t seconded the motion to
adopt. The roll was called and the vote was,
AYES:
Kincaid, Greenwood, Clark, Schmitt , Gunderson , Welper
NAYS:
ABSENT : Cole
Whereupon, the Mayor declared the resolution duly adopted as follows:
Resolution No . 2005- 520
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION BONDS,
SERIES 1997, OF THE CITY OF WATERLOO, IOWA,
DATED JUNE 1, 1997, AND DIRECTING NOTICE OF
REDEMPTION
WHEREAS, the City did by Resolution No. 1997-293 dated June 2, 1997,
authorize the issuance of$4,500,000 General Obligation Bonds, Series 1997, dated June
1, 1997; and
WHEREAS, the Bonds maturing after June 1, 2005 are redeemable in any order of
maturity 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 all of the Bonds be so
redeemed and notice of redemption be given.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
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Section 1. That the outstanding General Obligation Bonds, Series 1997, dated.
June 1, 1997, maturing after June 1, 2005 in the principal amount of$2,645,000, be and
the same are hereby redeemed as of August 1, 2005.
Wells Fargo Bank, N.A., as Registrar and Paying Agent for the Bonds, is hereby
authorized and directed to cause notice of such redemption to be given not less than thirty
(30) days prior to the redemption date.
Section 2. The Chief Financial Officer is hereby authorized and directed to cause
to be deposited with Wells Fargo Bank, N.A., as trustee under the Funding Trust
Agreement dated as of June 1, 2005, from the proceeds of the General Obligation Bonds,
Series 2005A, an amount sufficient to pay all principal and interest on the redeemed
Bonds to the date of redemption. The form of Funding Trust Agreement is hereby
approved and the Mayor and City Clerk are authorized to execute and deliver the same
for and on behalf of the City upon issuance of the Series 2005A Bonds.
Section 3. 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, Iowa
Original Issue Amount: $4,500,000
Bond Issue: General Obligation Bonds, Series 1997
Dated Date: June 1, 1997
Redemption Date: August 1, 2005
Redemption Price: Par, plus accrued interest
Bonds Called for Redemption
Principal Interest Maturity CUSIP
Amount Rate Date Numbers
$325,000 5.000% June 1, 2006 941638 W87
340,000 5.000 June 1, 2007 941638 W95
355,000 5.000 June 1, 2008 941638 X29
375,000 5.000 June 1, 2009 941638 X37
395,000 5.125 June 1, 2010 941638 X45
415,000 5.125 June 1, 2011 941638 X52
440,000 5.125 June 1, 2012 941638 X60
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, N.A., 666 Walnut
Street, Des Moines, Iowa 50309, telephone (515/245-8504). This represents a full call of
the outstanding obligations. All interest will cease to accrue on the Redemption Date.
Wells Fargo Bank,National Association
(End of Notice)
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PASSED AND APPROVED this 13th day of June
2005.
Mayor Tim Hurley
Y
ATTEST:
City Clerk Na y Eckert , CMC
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CIG-3
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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 16 th
day of June , 2005.
r„)„..*
City Clerk, aterloo, Iowa
Nancy Eckert , CMC
SEAL
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