HomeMy WebLinkAbout1989-660-12.07.1989 f
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(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: December 7 , 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:
$1, 125, 000 Sewer Revenue Bonds, Series 1989A and
$ 870, 000 Sewer Revenue Bonds, Series 1989B.
- 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.
City Cle /Auditor, terloo, Iowa
Larry P . urger
47,
AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
December 7 1989
The City Clerk/Auditor of Waterloo, Iowa, met in the Council
Chambers, City Hall, Waterloo, Iowa, at11 : 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:
Fox, Buck, Budak, Brown
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AHLERS,COONEY,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 $1, 125, 000 Sewer Revenue Bonds, Series 1989A, 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:
Piper, Jaffray & Hopwood
222 S. 9th Street
Minneapolis, MN
Hutchinson, Shockey, Erley & Co.
135 S. LaSalle, #1230
Chicago, IL
Chiles , Heider Division /
Shearson Lehman
Hutton Inc.
1300 Woodmen Tower
Omaha, NE
Bernardi Securities, Inc.
134 North LaSalle Street
Chicago, IL
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: Chiles Heider Division, Shearson Lehman
Hutton Inc. , 1300 Woodmen Tower, Omaha, NE
Net Interest Rate: 6. 97096
Net Interest Cost: $639, 499. 30
Whereupon, all bids were referred to the Council for action in
accordance with the Notice of Sale.
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
December 7 , 1989
The City Council of Waterloo, Iowa, met in Special
session, in the Council Chambers, City Hall, Waterloo, Iowa, at
11 : 00 o'clock A.M. , on the above date. There were present
Mayor McKinley , in the chair, and the following named
Council Members:
Fox, Buck, Budak, Brown
Absent: Dell, Wright, Angel
* * * * * * *
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AHLERS,COONEY,DORWEILER.HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
Buck introduced the following Resolution
entitled "RESOLUTION DIRECTING SALE OF $1, 125, 000 SEWER REVENUE
BONDS, SERIES 1989A, " and moved its adoption. Brown
seconded the motion to adopt. The roll was called and the vote
was,
AYES: Fox, Buck, Budak, Brown
NAYS: None
Whereupon, the Mayor declared the following Resolution duly
adopted:
Resolution No. 1989-660
RESOLUTION DIRECTING SALE OF $1, 125, 000
SEWER REVENUE BONDS, SERIES 1989A
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:
Chiles, Heider Division/
Bidder: Shearson Lehman Hutton InBf Omaha, Nebraska
the terms of said bid being:
Total Interest $628, 500. 21
Plus Discount 10, 999 . 13
Net Interest Cost 639, 499 . 33
Net Interest Rate 6 . 97096
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.
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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 7th day of December , 1989 .
,,,` J.e.--,..--,,vQ4-,..._cc /4 t 42--
Mayor, Bernard L. McKinley
ATTEST:,r
,--i
er 4a' ry P. Bur
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AHLERS,COONEY,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 $870, 000 Sewer Revenue Bonds, Series 1989B, 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:
Chiles, Heider Division of Shearson Lehman
Hutton, Inc.
1300 Woodmen Tower
Omaha, NE
Piper, Jaffray & Hopwood, Inc,
222 South Street
Minneapolis, MN
Ruan Securities
135 S. LaSalle, #1230
Chicago, IL
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: Piper, Jaffray & Hopwood, 222 South Street,
Minneapolis, MN
Net Interest Rate: 6 . 8310
Net Interest Cost: 758, 071 . 98
Whereupon, all bids were referred to the Council for action in
accordance with the Notice of Sale.
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
Buck introduced the following Resolution
entitled "RESOLUTION DIRECTING SALE OF $870, 000 SEWER REVENUE
BONDS, SERIES 1989B, " and moved its adoption. Fox
seconded the motion to adopt. The roll was called and the vote
was,
AYES: Fox, Buck, Budak, Brown
NAYS: None
Whereupon, the Mayor declared the following Resolution duly
adopted:
Resolution No. 1989-661
RESOLUTION DIRECTING SALE OF $870, 000
SEWER REVENUE BONDS, SERIES 1989B
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:
Bidder: Piper, Jaffray & Hopwood of Minneapolis, Minnesota
the terms of said bid being:
Total Interest $750, 120. 83
Less Premium/Plus Discount 7, 951 . 15
Net Interest Cost 758, 071 . 98
Net Interest Rate 6 . 8310
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.
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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 7th day of DPrPmhPr , 1989 .
Mayor, Bernard . McKinley
ATTEST:
)//2
Cl rk� La P. Burg
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AHLERS,COONEY,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 llth day of December , 1989.
City Clerk, aterloo, a
Larry P. Burger
SEAL /
AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA