HomeMy WebLinkAbout26197-02.26.1979 Council Member introduced the
• owing Resolution entitled "RESOLUTION DIRECTING SALE 0,
$180, : $0. 00 STREET IMPROVEMENT BONDS AND $200, 000. 00 S R
IMPROVEM BONDS, " and moved its adoption. Counc ' Member
seconded the motion to adopt The roll was
called and the v• e was ,
AYES :
NAYS•
c upon, the Mayor declared the following Resolutio
:..__.�..:._.:�..�: RESOLUTION NO. 2 6 1 9 7
RESOLUTION DIRECTING SALE OF $180,000. 00
STREETE IMPROVEMENT�� BONDSB AND $200, 000. 00
F.Y. 1978 PAVRP�R0001�2 & it l.S
TRIANQ F TERRACE & SUBURBAN HEIGHTS SNTTARY SEWER IMPROVEMENT PROJECT,1978 #1,CONT.#189
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:
$180, 000. 00 STREET IMPROVEMENT BONDS:
Bidder:Peoples Trust & Savings Bank of Indianola, Iowa
the terms of said bid being :
Net Interest Cost $61,775.00 - Effective or Net Interest Rate 6.1468%
(1979-1982 5%; 1983-1986 6%; 1987 6 1/2%; 1988 7%)
$200, 000. 00 SEWER IMPROVEMENT BONDS:
Bidder: Shaw, McDermott & Co. of Des Moines, Iowa
Associate: Peoples Bank & Trust Co. , Waterloo, Iowa
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AHLERS, GOONEY, DORWEILER, HAYNIE&SMITH, LAWYERS, DES MOINES, IOWA
the terms of said bid being :
Net Interest Cost $66,412.50 - Effective or Net Interest Rate 6.3250%
(1979 5%; 1980-1981 5.50%; 1982-1984 6.25%; 1985-1988 6.507,)
NOW, THEREFORE, BE IT RESOLVED BY THE 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.
Section 3 . That the notices of the sale of the bonds
heretofore 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 76rh day of Febrwiry
1979.
Mayor
ATTEST:
Clerk
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AHLERS, GOONEY, DORWEILER, HAYNIE&SMITH, LAWYERS, DES MOINES, IOWA