HomeMy WebLinkAbout12.1.2021 Special Session Minutes December 1, 2021
The City Clerk of the City of Waterloo,Iowa,met in the Mollenhoff Conference Room at City Hall,715 Mulberry
Street, Waterloo, Iowa, at 10:30 a.m. on December 1, 2021, to receive bids and refer the sale of $14,200,000
General Obligation Bonds, Series 2022A, 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 LeAnn Even, Deputy
City Clerk.
This being the time and place for the opening of bids for the sale of$14,200,000 General Obligation Bonds, Series
2022A, the City Clerk announced the following bids were received:
Name of Bidder True Interest Rate
Robert W. Baird & Co., Inc., Milwaukee, Wisconsin 2.2716% (original)
2.2680% (revised)
Raymond James &Associates, Inc., Memphis, Tennessee 2.3604%
Stifel Financial Corp., Birmingham, Alabama 2.3981%
JP Morgan Securities,New York,New York 2.4033%
The best bid was determined to be as follows Robert W. Baird & Co., Inc., Milwaukee, Wisconsin, at a True
Interest Rate of 2.2680%.
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 December 1, 2021.
December 1, 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,December 1,2021. Mayor Pro Tem, Sharon Juon in the Chair. Boesen,Amos,
Morrissey, Feuss, Klein, Juon. Absent: Grieder.
160715 - Amos/Morrissey
that the Agenda, as proposed, for the Special Session on December 1, 2021, at 5:00 p.m., be accepted
and approved. Voice vote-Ayes: Six. Motion carried.
BOND SALE
160716 - Morrissey/Amos
to receive and file copies of Calls. Voice vote-Ayes: Six. Motion carried.
160717 - Morrissey/Amos
that proof of publication of Notice of Sale on consideration of the proposition of issuance of General
Obligation Bonds, Series 2022A, as published in the Waterloo Courier on November 19, 2021, be
received and placed on file. Voice vote-Ayes: Six. Motion carried.
This being the time and place of public hearing, the Mayor Pro-Tem called for written and oral
comments and there were none.
Presentation by Maggie Burger, Speer Financial, on the bids received. She explained that the purpose
of the bond issue is to provide incentives for constructing the theme park.
160718 - Morrissey/Amos
that the hearing be closed. Voice vote-Ayes: Six. Motion carried.
After the sale, the par amount of the Bonds was reduced to $14,075,000.
160719 - Morrissey/Amos
that "Resolution directing sale of$14,075,000 Taxable General Obligation Urban Renewal Bonds,
Series 2022A to Robert W. Baird & Co., Inc., of Milwaukee Wisconsin at a rate of 2.2680%. Roll
call vote-Ayes: Six. Motion carried.
December 1, 2021 Page 2
Resolution adopted and upon approval by Mayor assigned No. 2021-763.
ADJOURNMENT
160720 - Morrissey/Amos
that the Council adjourn at 5:10 p.m. Voice vote-Ayes: Six. Motion carried.
2Ce&y Te!c(de
Kelley Felchle
City Clerk