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HomeMy WebLinkAbout2010-423-06/03/2010(This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: June 3 , 2010. Time of Meeting: 4:00 o'clock P.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: General Obligation Refunding Bonds, Series 2010B X Resolution directing sale. Such additional matters as are set forth on the additional 6 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. Suzy SA74es, City Clerk, Waterloo, Iowa June 3 , 2010 The City Clerk of Waterloo, Iowa, met in the City Clerk's office, City Hall, Waterloo, Iowa, at 10:30 o'clock A.M., on the above date, to open sealed bids received, access electronic bids, 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 4:00 o'clock P.M. on the above date. The following persons were present: Michelle Weidner, Suzy Schares, David Jones, Larry Burger Absent: none This being the time and place for the opening of bids for the sale of General Obligation Refunding Bonds, Series 2010B, the meeting was opened for the receipt of bids for the Bonds. The following actions were taken: 1. Sealed bids were filed and listed in the minutes while unopened, as follows: Name & Address of Bidders: none 2. The City Clerk then declared the time for filing of sealed bids to be closed and that the sealed bids be opened. The sealed bids were opened and announced. 3. Electronic bids received were accessed and announced as follows: Name & Address of Bidders: 1. UMB Bank, n.a., Kansas City, Missouri 2. Robert W. Baird & Co., Milwaukee, Wisconsin 3. Wells Fargo Bank, Charlotte, North Carolina 4. BMO Capital Markets, Chicago, Illinois 5. Marshall & Ilsley, Milwaukee, Wisconsin 6. Morgan Keegan & Company, Inc., Memphis, Tennessee 4. The best bid was determined to be as follows: Name & Address of Bidder: UMB Bank, n.a., Kansas City, Missouri Principal Amount: $ 4,820,000.00 True Interest Cost: $ 4,797,587.00 True Interest Rate: 2.0315% All bids were then referred to the Council for action in accordance with the Notice of Sale. 2 June 3 , 2010 The City Council of Waterloo, Iowa, met in special session, in the Council Chambers, City Hall, Waterloo, Iowa, at 4:00 o'clock P.M., on the above date. There were present Mayor Ernest G. Clark , in the chair, and the following named Council Members: Cole, Jones, Greenwood, Welper Absent: Getty, Schmitt, Hart 3 Council Member Greenwood introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2010B" and moved its adoption. Council Member Cole seconded the motion to adopt. The roll was called and the vote was, AYES: Cole, Jones, Greenwood, Welper NAYS: none Whereupon, the Mayor declared the following Resolution duly adopted: RESOLUTION NO. 2010-423 RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2010B 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: GENERAL OBLIGATION REFUNDING BONDS, SERIES 201OB: Bidder: UMB Bank, n.a. of Kansas City, Missouri the terms of said bid being: Principal Amount: $ 4,820,000.00 Purchase Price: $ 4,797,587.00 True Interest Rate: 2.0315 % True Interest Cost: $ 428,335.67 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: 0 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 form of contract for the sale of said Bonds is 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 and Chief Financial Officer done in furtherance of the sale of said Bonds are hereby ratified and approved. PASSED AND APPROVED this 3rd day of June , 2010. ATTEST: Suzy S81iales, City Clerk Ernest G. Clark, Mayor 5 CIG -3 9/91 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 5t' day of June , 2010. SEAL / 657068.1 /MSWord\11310.086 Suzy SWres, City Clerk, Waterloo, Iowa IN