HomeMy WebLinkAboutMinutes-6/07/2016June 7, 2016
The City Clerk of the City of Waterloo, Iowa, met in the City Clerk's Office, 715
Mulberry Street, Waterloo, Iowa, at 10:00 a.m. on Tuesday, June 7, 2016, to receive bids
and refer the sale of $8,605,000 General Obligation Bonds, Series 2016A, to the best and
most favorable bidder for cash, subject to approval of the City Council at 4:30 p.m. on
the above date. The following persons were present at said meeting: Michelle Weidner,
Chief Financial Officer; and Larry Burger, Vice President of Speer Financial, Inc.
This being the time and place for the opening of bids for the sale of $8,605,000 General
Obligation Bonds, Series 2016A, the City Clerk announced the following bids were
received:
Name of Bidder
1. Robert W. Baird& Co., Milwaukee, Wisconsin
2. Raymond James &'Associates, Inc., Grosse Pointe Farms, Michigan
3. BOSC, Inc., Menomonee Falls, Wisconsin
4. 'Citigroup, Dallas, Texas
The best
Wisconsin
Whereupon
4:30 p.m.
True Interest Rate
1.6994%
1.7100%
1.7172%
1.7865%
bid was determined to .be as follows: Robert W. Baird & Co., Milwaukee,
at a True Interest Rate of 1.6994
all bids were referred to Speer' Financial, Inc. and the meeting adjourned to
in the Council Chambers on June 7, 2016.
June 7, 2016
The City Clerk of the City of Waterloo, Iowa, met in' the City Clerk's Office, 715,
Mulberry Street, Waterloo, Iowa, at 10:30 a.m. on Tuesday, June 7, 2016, to receive bids
and refer the sale of $1,810,000 General Obligation Bonds, Taxable Series 2016B, to the
best and most favorable bidder for cash, subject to approval of the City Council at 4:30
p.m. on the above date. The following persons were present at said meeting: Michelle
"Weidner, Chief Financial Officer; and Larry Burger, Vice President of Speer Financial,
Inc.
This being the time and place for the opening of bids for the sale of $1,810,000 General
Obligation Bonds, Taxable Series 2016B, the City Clerk announced the following bids were
received:
Name of Bidder True Interest Rate
2.5961%
2. Robert W. Baird & Co., Milwaukee, Wisconsin 2.6165%
3. BOSC, Inc., Menomonee Falls, Wisconsin 2.6176%
The best bid was determined to be as follows: Piper Jaffray, Minneapolis, Minnesota at a
True Interest Rate of 2.5961%.
Whereupon all bids were referred to Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 7, 2016.
June 7, 2016
1. Piper Jaffray, Minneapolis, Minnesota
The City Clerk of the City of Waterloo, Iowa, met in the,City Clerk's Office, 715
Mulberry Street, Waterloo, Iowa, at 11:00 a.m. on Tuesday, June 7, 2016, to receive bids
and refer the sale of $9,250,000 General Obligation Bonds, Taxable Series 2016C, to the
best and most favorable bidder for cash, subject to approval of the City Council at 4:30
p.m. on the above date. The following persons were present at said meeting: Michelle
Weidner, Chief Financial Officer; and Larry Burger, Vice President of Speer Financial,
Inc.
This being the'time and place for the opening of bids for the sale of $9,250,000 General
Obligation Bonds, Taxable Series,2016C, the City Clerk announced the following bids were
received:
Name of Bidder r
1. FTN Financial Capital Markets, Memphis, Tennessee
J
2. Robert W. Baird & Co., Milwaukee, Wisconsin
3, BOSC, Inc., Menomonee Falls, Wisconsin
True Interest Rate
2.8556%
2.8837%
2.9209%
June 7, 2016 Page 2
4. Piper Jaffray, Minneapolis, Minnesota 2.9694%r
5. -Raymond James & Associates, Inc., Grosse Pointe, Michigan
2.9977%
The best bid was determined to be as follows: FTN Financial Capital Markets, Memphis,
Tennessee at a True Interest Rate of 2.8556%.
Whereupon all bids were referred 'Co Speer Financial, Inc. and the meeting adjourned to
4:30 p.m. in the Council Chambers on June 7, 2016.
June 7, 2016
The Council of the City of Waterloo, Iowa, met in Special Session at City Hall Mollenhoff
Room, Waterloo, Iowa, at 4:30 p.m., on Tuesday, 'June 7, 2016. Mayor Quentin in the
Chair. Roll Call: Jacobs, Amos, Morrissey, Lind, and Welper. Absent: Schmitt.
146164 - Welper/Morrissey
that the Agenda, as proposed, for the Special Session on Tuesday, June 7, 2016,
at 4:30 p.m., be accepted and approved. Voice vote -Ayes: Five. Motion
carried.
146165 - Lind/Morrissey
that copies of Cally for the Special Session on Tuesday, June 7, 2016, at 4:30
p.m., be received and placed on file. Voice vote -Ayes: Five. Motion carried.
BOND SALE
146166 - Lind/Amos
that- proof'of publication of Notice of Sale on consideration of the proposition
of issuance of not to exceed $8,605,000 General Obligation Bonds, Series 2016A,
as published in the Waterloo Courier on May 11, 2016, be received and placed on
file., Voice vote -Ayes: Five. Motion carried.
146167 - Lind/Welper
that "Resolution directing sale of $8,605,000 General Obligation Bonds, Series
2016A to=•Robert W. Baird & Co., Milwaukee, Wisconsinr at a True Interest Rate
of 1.6994% percent", be adopted. Roll call vote -Ayes: Five.
Resolution adopted and upon approval by Mayor assigned No.'2016-425.
146168 - Lind/Amos
that proof of publication of Notice of Sale on consideration of the proposition
of issuance ,of not to exceed $1,810,000 Taxable General Obligation Bonds, Series
2016B, as published inbthe Waterloo Courier on May 11, 2016, be received and
placed on file. Voice vote -Ayes: Five. Motion carried.
146169 Lind/Welper
that "Resolution directing sale of $1,810,000 Taxable General Obligation Bonds,
Series 2016B,toPiper. Jaffray, Minneapolis, Minnesota at a True Interest Rate of
2.5961% percent", be adopted. Roll call vote -Ayes: Five.
Resolution adopted and upon approval by Mayor assignedNo. 2016-426.
146170 - Lind/Amos t
that proof of publication of.Notice of Sale on consideration of the proposition
of issuance of not to exceed $9,250,000 .Taxable General Obligation Bonds, Series
2016A, as published in the Waterloo Courier on May 11', 2016, be received and
placed on file. Voice vote -Ayes: Five. Motion carried.
146171 - Lind/Amos
that "Resolution'directing sale of $9,250,000 Taxable General Obligation Bonds,
Series 2016A to .FTN Financial Capital Markets, Memphis, Tennessee at a True
`Interest Rate of 2.8556% percent",'be adopted. Roll call vote -Ayes: Five.
Resolution adopted and upon approval by Mayor assigned No. 2016-427.
.Larry Berger Speer Financial, gave an overview of the bids received.
ADJOURNMENT
June 7, 2016
4 Page 3
146172 - Morrissey/Lind
that the Council adjourn at 4:57 p.m. Voice vote -Ayes: Five. Motion carried.
Suzy Sc ares
City Cl rk