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HomeMy WebLinkAbout2003-428-06.16.2003 (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: June 16 , 2003. Time of Meeting: 5 :30 o'clockP .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 1995, dated June 1, 1995, and directing Notice of Redemption to be given Such additional matters as are set forth on the additional 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, Wa loo, Iowa Nancy Eckert June 16 , 2003 The City Council of Waterloo, Iowa, met in Regular session, in the Council Chambers, City Hall, Waterloo, Iowa, at 5 :30 o'clockP .M., on the above date. There were present Mayor John R. Rooff , in the chair, and the following named Council Members: Kincaid, Welper, Greenwood, Clark, Jordan, Hurley, Getty Absent: * * * * * * * * -1- Council Member Jordan introduced the following Resolution entitled "RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 1995, OF THE CITY OF WATERLOO, IOWA, DATED JUNE 1, 1995, AND DIRECTING NOTICE OF REDEMPTION TO BE GIVEN," and moved its adoption. Council Member Greenwood seconded the motion to adopt. The roll was called and the vote was, Kincaid, Welper, Greenwood, AYES: Clark, Jordan, Hurley, Getty NAYS: Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO. 2003-428 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 1995, OF THE CITY OF WATERLOO, IOWA, DATED JUNE 1, 1995, AND DIRECTING NOTICE OF REDEMPTION TO BE GIVEN WHEREAS, the City Council has heretofore, by resolution approved on June 26, 1995, authorize the issuance of$7,200,000 General Obligation Bonds, Series 1995, dated June 1, 1995 (the "Bonds"); and WHEREAS, principal of the Bonds maturing after June 1, 2003 may be called for redemption and paid before maturity on said date or any date thereafter, from any funds regardless of source, in whole or from time to time in part, upon giving notice in the manner provided in the foregoing Resolution authorizing the issuance of the Bonds; and WHEREAS, certain of the Bonds have been redeemed previously, it is now deemed necessary and advisable that the remaining 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: -2- Section 1. That the outstanding General Obligation Bonds, Series 1995, dated June 1, 1995, in the principal amount of$2,595,000 be and the same are hereby redeemed as of August 1, 2003. Section 2. The Funding Trust Agreement with Wells Fargo Bank Iowa, National Association, as Trustee thereunder, in the form presented to this meeting is hereby approved, and the Mayor and City Clerk are hereby authorized to execute and deliver the same on behalf of the City, subject to any such changes or modifications as shall be approved by the Mayor, upon the advise of bond counsel. The City Treasurer is hereby authorized and directed to cause to be deposited with said Trustee, from the proceeds of the General Obligation Bonds, Series 2003A, dated June 1, 2003, a sum sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption in accordance with the Funding Trust Agreement. Section 3. The Registrar and Paying Agent for the Bonds, Wells Fargo Bank Iowa, National Association, 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 by registered mail to the registered owners of the Bonds. Section 4. That the form of such notice be substantially as follows: -3- 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: $7,200,000 Bond Issue: General Obligation Bonds, Series 1995 Dated Date: June 1, 1995 Redemption Date: August 1, 2003 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Principal Interest Maturity Numbers Amount Rate Date 941638 $600,000 5.10% 2004 941638 $630,000 5.20 2005 941638 $670,000 5.20 2006 941638 $695,000 5.30 2007 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. -4- The above Bonds should be presented to the Registrar, Wells Fargo Bank Iowa, National Association, 666 Walnut Street, Des Moines, Iowa 50309, telephone (515/245- 8504). This represents a full call of the outstanding obligations. All interest on the Bonds being so redeemed will cease to accrue on the Redemption Date. Wells Fargo Bank Iowa, National Association, Registrar (End of Notice) -5- PASSED AND APPROVED this 16th day of June 2003. ayor ohn R. Roof ATTEST: City Clerk Nancy Eckert -6- 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 16th day of June , 2003. City Clerk, W.4 loo, Iowa Nancy Eckert SEAL DCORNELL\373013\1\11310067 -7-