HomeMy WebLinkAbout1990-418-07.12.1990 ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: July 12 , 1990
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:
$5, 250, 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.
City Cle /Audit , Waterloo, Iowa
Larry . Burger
AHLERS,COONEY.DORWEILER,HAYNIE.SMITH&ALLBEE,P.C.
ATTORNEYS AT LAW DES MOINES,IOWA
July 12 , 1990
The City Clerk/Auditor of Waterloo, Iowa, met in the Council
Chambers, City Hall, Waterloo, Iowa, at o'clock .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, Angel, Wright, Budak and Brown
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AHLERS,COONEY.DORWEILER.HAYNIE.SMITH&ALLBEE,P.C.
ATTORNEYS AT LAW DES MOINES,IOWA
This being the time and place for the opening of bids for the
sale of $5,250, 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:
Blunt Ellis & Loewi, Inc. and Clayton The Northern Trust Company and
Brown and Associates, Inc. and Griffin, Dam Bosworth Incorporated and
Kubik, Stephens & Thompson, Inc. Piper, Jaffray & Hopwood, Inc.
Chicago, Illinois and Kidder, Peabody & Co. , Inc.
and John Nuveen & Co. , Inc. and
Chiles Heider, Division of Shearson Lehman Associates
Hutton Inc. and Dean Witter Reynolds Inc. Chicago, Illinois
and A. G. Edwards & Sons, Inc.
Omaha, Nebraska
First Chicago Capital Markets, Inc. and
Merrill Lynch Capital Markets
Chicago, Illinois
Harris Trust and Savings Bank and Norwest
Investment Services, Inc. and Associates
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: Harris Trust & Savings Bank and Associates
Chicago, Illinois
Net Interest Rate: 6. 6125%
Net Interest Cost: $2, 151, 570. 75
Whereupon, all bids were referred to the Council for action in
accordance with the Notice of Sale.
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AHLERS.LOONEY.DOR\VEILER.HAYNIE,SMITH&ALLBEE,EC.
ATTORNEYS AT LAW DES MOINES,IOWA
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Brown introduced the following Resolution
entitled "RESOLUTION DIRECTING SALE OF $5,250, 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: Fox, Angel, Wright, Budak and
Brown
ABSENT: NM Dell and Buck
Whereupon, the Mayor declared the following Resolution duly
adopted: RESOLUTION NO. 1990-418
RESOLUTION DIRECTING SALE OF $5, 250, 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:
$5,250, 000 CORPORATE PURPOSE GENERAL OBLIGATION BONDS:
Bidder: Harris Trust & Savings of Chicago, Illinois
Bank and Associates
the terms of said bid being:
Total Interest: $2, 099, 093 . 75
Plus Discount 52, 477 . 00
Net Interest Cost 2, 151 , 570. 75
Net Interest Rate 6. 6125%
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.PC.
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 12th day of July 1990.
Mayor , Berna L. McKinley
ATTEST:
e , arry Pr/Burger
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1HLERS.COONET.IORWEILER.H klXIE.S IIITH&.1LLBEE,P.C.
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 13th day of July , 1990.
Cl , aterl , Iowa
Lar y Burger
SEAL
AHLERS,COONEY,DORWEILER,HAYNIE.SMITH&ALLBEE,P.C.
ATTORNEYS AT LAW DES MOINES,IOWA