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HomeMy WebLinkAbout1989-312-06.26.1989 ORIGINAL (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: June 22, 1989 Time of Meeting: 11 : 00 A.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: $4, 900, 000 Corporate Purpose General Obligation Bonds. - Resolution directing sale. Such additional matters as are set forth on the addi- tional 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. to/bf` Ci CJ rk/Auditor, Waterloo, Iowa Larry Burger AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA June 22 , 1989 The City Clerk/Auditor of Waterloo, Iowa, met in the Council Chambers, City Hall, Waterloo, Iowa, at 11 : 00 o'clock A .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 11 : 00 o'clock A .M. on the above date. The following persons were present at said meeting: Brown, Buck, Fox, Angel, Wright and Budak ABSENT: Dell -1- AHLERS,GOONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA This being the time and place for the opening of bids for the sale of $4 , 900, 000 Corporate Purpose General Obligation 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: Clayton Brown & Associates, Inc. and Blunt Ellis & Loewi, Inc. and Griffin, Kubik, Stephens & Thompson, Inc. , Chicago, Illinois First Chicago Capital Markets Inc. and Associates, Chicago, Illinois Harris Trust and Savings Bank and Norwest Investment Services, Inc. and Bear Stearns & Co. and Associates, Chicago, Illinois The Northern Trust Company and Dain Bosworth Incorporated and Piper, Jaffray & Hopwood, Inc. and Kidder, Peabody & Co. , Inc. and Associates, Chicago, Illinois Dean Witter Reynolds Inc. and Chiles Heider, Division of Shearson Lehman Hutton Inc. and A.G. Edwards & Sons, Inc. and Smith Barney, Harris Upham & Co. , Inc. and PaineWebber Incorporated, Chicago, Illinois 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: Harris Trust and Savings Bank and Associates, Chicago, Illinois Net Interest Rate: 6. 8919% Net Interest Cost: $3, 854, 879 . 17 Whereupon, all bids were referred to the Council for action in accordance with the Notice of Sale. -2- AIILERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA June 22 , 1989 The City Council of Waterloo, Iowa, met in Regular session, in the Council Chambers, City Hall, Waterloo, Iowa, at 11 : 00 o'clock A .M. , on the above date. There were present Mayor Bernie McKinley , in the chair, and the following named Council Members: Brown, Buck, Fox, Angel, Wright and Budak Absent: Dell * * * * * * * -3- AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA Buck introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF $4, 900, 000 CORPORATE PURPOSE GENERAL OBLIGATION BONDS, " and moved its adoption. Angel seconded the motion to adopt. The roll was called and the vote was, AYES: Brown, Buck, Fox, Angel, Wright and Budak NAYS: None ABSENT: Dell Whereupon, the Mayor declared the following Resolution duly adopted: RESOLUTION NO. 1989-312 RESOLUTION DIRECTING SALE OF $4, 900, 000 CORPORATE PURPOSE GENERAL OBLIGATION 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: $4 , 900, 000 CORPORATE PURPOSE GENERAL OBLIGATION BONDS: Bidder: Harris Trust and Savings of Chicago, Illinois Bank & Associates the terms of said bid being: Total Interest $3, 805, 879. 17 Plus Discount 49, 000 . 00 Net Interest Cost 3, 854, 879 . 17 Net Interest Rate 6 . 8919% 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. -4- AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA Section 3 . That the notice of the sale of the bonds hereto- fore 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 22nd day of June , 1989 . Mayor Bern r 4cKley ATTEST: 1-;1;) 1 r Clerk La P. Bur r Jd J -5- AHLERS,GOONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA CIG-3 4-85 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 com- mencement 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 27th day of June , 1989 . —IA'M.e. P0/ City le , ", Waterloo. Iowa Larr urger SEAL AHLERS,COONEY.DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA