HomeMy WebLinkAbout1999-077-02.17.1999 COGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: February 17 , 1999.
Time of Meeting: 4. 3n o'clockP .M.
Place of Meeting: Council Chambers, 715 Mulberry Street, 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:
Not to Exceed $15,500,000 Essential Corporate Purpose General Obligation
Refunding Bonds.
• Resolution directing sale.
Such additional matters as are set forth on the additional Six 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.
L7PL/// ,
City Clerk, Waterloo, Iowa , Nancy Eckert
February 17 , 1999
The City Clerk of Waterloo, Iowa, met in the Council Chambers, 715 Mulberry
Street, Waterloo, Iowa, at 12 : 00o'clock P .M., on the above date, to open sealed bids
received 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:
John R. Rooff. Nancy Eckert,
Bruce Meisinger. Larry Burger
Dan Forbes
* * * * * * * *
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This being the time and place for the opening of bids for the sale of$15 . 500 , 000
Essential Corporate Purpose General Obligation Refunding Bonds, the meeting was
opened for the receipt of bids for the bonds.
Sealed bids were filed and listed in the minutes while unopened, as follows:
Name & Address of Bidders:
1 . ABN AMRO, Inc. , New York, New York
2 . Harris Trust and Savings Bank & Associates , Chicago, Illinois
3 . Piper Jaffray Inc. , Minneapolis , Minnesota
4. Salomon Smith Barney, Chicago, Illinois
Whereupon the Clerk declared the time for filing of sealed bids to be closed.
Whereupon, the Clerk declared the sealed bids be opened. The sealed bids were
opened and the best sealed bid was as follows:
Name & Address of Bidder: ABN AMR°, In r . , New York. New York
Net Interest Rate: 4 3088
Net Interest Cost: $4, 2 7 4, 5 0 9 . 9 0
Whereupon, all bids were referred to the Council for action in accordance with the
Notice of Sale.
-2-
February 17 , 1999
The City Council of Waterloo, Iowa, met in sp P r;n i session, in the Council
Chambers, 715 Mulberry Street, Waterloo, Iowa, at 4: 30 o'clock P .M., on the above
date. There were present Mayor John R. Ro o f f , in the chair, and the
following named Council Members:
Murphy, JOrdan, Collier , Anders
Absent: Getty, Krizek, Gronen
* * * * * * *
-3-
Council Member Jordan introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $14,455 , 000ESSENTIAL
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING BONDS," and
moved its adoption. Council Member Anders seconded the
motion to adopt. The roll was called and the vote was,
AYES: Murphy. Jordan. Collier, Anders
NAYS:
Whereupon, the Mayor declared the following Resolution duly adopted:
1999-77
RESOLUTION DIRECTING SALE OF $ 14,455 , 000
ESSENTIAL CORPORATE PURPOSE GENERAL
OBLIGATION REFUNDING BONDS
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:
$14,455 , 00(ESSENTIAL CORPORATE PURPOSE GENERAL
OBLIGATION REFUNDING BONDS:
Bidder: ABN AMRO . Inc . , Of NPw York , New YrYck
the terms of said bid being:
Purchase Price: $ 14,455 , 0 0 0
Net Interest Rate: 4. 3088
Net Interest Cost $ 4, 274, 509 . 90
-4-
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 statement of information for bond bidders and the form of
contract for the sale of said bonds are 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 done in furtherance of the sale of said bonds are hereby ratified and approved.
PASSED AND APPROVED, this 1 7th day of February , 1999.
M. or , Jahn R. Roo
ATTEST:
Clerk' Na v Eckert
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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 19 t-h
day of February , 1999.
City Clerk, W rloo, Iowa , Nancy Eckert
SEAL
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