HomeMy WebLinkAbout26147-01.11.1979 RESOLUTION NO. 2 6 1 4 7
RESOLUTION providing for the sale
and award of $4 ,985,000 Corporate
Purpose Bonds and approving and
authorizing the agreement of such
sale and award.
WHEREAS notice of sale of $4 ,985,000 Corporate Purpose
Bonds of the City of Waterloo, in Black Hawk County, Iowa, has
heretofore been given in strict compliance with the provisions
of Chapter 75 of the Code of Iowa, by publication of notice for
two or more successive weeks in a newspaper published in Black
Hawk County; and
WHEREAS all sealed bids have been received and placed
on file, after which open bids were called for and received, the
highest of which open bids was as follows: the bid submitted by
N 0 N E , consisting of par and accrued interest
plus a premium of $ --- , with the bonds to bear interest at
the following rates per annum:
Year of Interest
Maturity Rate
1981 - %
1982 - %
1983 -
1984 - %
1985 - %
1986 - %
1987 - %
1988 - %
1989 - %
1990 - %
1991 - %
1992 - %
and thereafter such sealed bids were opened, the substance of the
best sealed bid being as follows : the bid submitted by The Northern
Trust Company , consisting of par and accrued interest plus a
premium of $ 101.00 , with the bonds to bear interest at the
following rates per annum:
Year of Interest
Maturity Rate
1981 6 3/4 %
1982 6 3/4 %
1983 6 3/4 %
1984 6.40 %
1985 5 1/4 %
1986 5 1/4 %
1987 5. 30 %
1988 5. 30 %
1989 5. 30 %
1990 5. 30 %
1991 5. 30 %
1992 5. 30 %
NOW, THEREFORE, Be It Resolved by the City Council of the
City of Waterloo, Iowa, as follows :
Section 1. That upon being duly advised in the premises
it is hereby determined that the bid of The Northern Trust Company
for the purchase of $4 ,985 ,000 Corporate Purpose Bonds of said
City, dated February 1, 1979 , as advertised, bearing interest at
the rates specified in the preamble hereof, is the highest and best
bid received and that said bonds be and the same are hereby awarded
to said The Northern Trust Company .
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Section 2 . That the form of agreement of sale of said
bonds be and the same is hereby approved, and the Mayor, City
Clerk and City Treasurer are hereby authorized to accept and
execute the same for and on behalf of the City of Waterloo, Iowa,
and to affix the corporate seal of said City thereto.
Section 3. That all resolutions or parts of resolutions
in conflict herewith be and the same are hereby repealed.
Passed and approved January 11, 1979 .
Mayor
Attest:
City Clerk
Recorded January 11 - , 1979
City Clerk
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