HomeMy WebLinkAbout2010-475-6 /14/2010(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 14 , 2010.
Time of Meeting: 5:30 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:
X Resolution Authorizing the Redemption of Outstanding General Obligation
Bonds, Series 2002A, dated June 1, 2002
Such additional matters as are set forth on the additional 7 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 S h es, City Clerk, Waterloo, Iowa
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June 14 , 2010
The City Council of Waterloo, Iowa, met in regular session, in the
Council Chambers, City Hall, Waterloo, Iowa, at 5:30 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, Getty, Jones, Greenwood, Schmitt, Welper, Hart
Absent: none
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Council Member Hart introduced the following Resolution
entitled "RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING
GENERAL OBLIGATION BONDS, SERIES 2002A, OF THE CITY OF WATERLOO,
IOWA, DATED JUNE 1, 2002, AND DIRECTING NOTICE OF REDEMPTION," and
moved its adoption. Council Member Welper seconded the motion to
adopt. The roll was called and the vote was,
AYES: Cole, Getty, Jones, Greenwood, Schmitt, Welper, Hart
NAYS: none
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2010-475
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION BONDS,
SERIES 2002A, OF THE CITY OF WATERLOO, IOWA,
DATED JUNE 1, 2002, AND DIRECTING NOTICE OF
REDEMPTION
WHEREAS, the City has heretofore authorized the issuance of $6,900,000
General Obligation Bonds, Series 2002A, dated June 1, 2002 (the "Series 2002A
Bonds"); and
WHEREAS, the Series 2002A Bonds maturing after June 1, 2010 are redeemable
in any order of maturity upon giving notice in the manner provided in the resolution
authorizing the issuance of the Series 2002A Bonds; and
WHEREAS, it is deemed necessary and advisable that the Series 2002A Bonds be
so redeemed and notice of redemption be given.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
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Section 1. That the outstanding General Obligation Bonds, Series 2002A, dated
June 1, 2002, maturing on and after June 1, 2010 in the principal amount of $4,725,000,
be and the same are hereby redeemed as of July 15, 2010.
Wells Fargo Bank, N.A., as Registrar and Paying Agent for the Series 2002A
Bonds, is hereby authorized and directed to cause notice of such redemption to be given
not less than thirty (30) days prior to the redemption date.
Section 2. The Chief Financial Officer is hereby authorized and directed to cause
to be deposited with Wells Fargo Bank, N.A., from the proceeds of the General
Obligation Refunding Bonds, Series 2010B, an amount sufficient to pay all principal and
interest on the redeemed Series 2002A Bonds to the date of redemption. The form of
Funding Trust Agreement relating to such deposit is approved, and the Mayor and City
Clerk are authorized to execute and deliver the same on behalf of the City.
Section 3. That the form of such notice be substantially as follows:
NOTICE OF THE CALL OF BONDS FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS:
Please take notice that the Bonds described below have been called for
redemption. Owners of the Bonds should present their Bonds for payment on the
Redemption Date.
Issuer: City of Waterloo, Iowa
Original Issue Amount: $6,900,000
Bond Issue: General Obligation Bonds, Series 2002A
Dated Date: June 1, 2002
Redemption Date: July 15, 2010
Redemption Price: Par, plus accrued interest
Bonds Called for Redemption
Principal
Interest
Maturity
CUSIP
Amount
Rate
Date
Numbers
$370,000
4.00%
June 1, 2011
941638 6139
515,000
4.10
June 1, 2012
941638 6C7
550,000
4.25
June 1, 2013
941638 6D5
680,000
4.35
June 1, 2014
941638 6E3
935,000
4.50
June 1, 2015
941638 6F0
710,000
4.60
June 1, 2016
941638 6G8
965,000
4.65
June 1, 2017
941638 61-16
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No representation is made as to the accuracy of the CUSIP numbers printed
herein or on the Bonds.
The above Bonds should be presented to Wells Fargo Bank, N.A., 666 Walnut
Street, Des Moines, Iowa 50309, telephone (515/245-8504). This represents a partial call
of the outstanding obligations. All interest on the Bonds being refunded will cease to
accrue on the Redemption Date.
Wells Fargo Bank, National Association
(End of Notice)
PASSED AND APPROVED this 14th day of June , 2010.
ATTEST:
Suzy c es, City Clerk
Ernest G. Clark, Mayor
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CIG -3
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 16th day
of June ______:12010.
SSQhares, City Clerk, Waterloo, Iowa
(SEAL)
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