HomeMy WebLinkAbout1987-322-06.18.1987 OPM:1111
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 18 , 1987
Time of Meeting: 11 :00 a.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:
$6,700, 000 Corporate Purpose General Obligation Bonds.
- Resolution directing sale.
Such additional matters as are set forth on the addi-
tional 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.
Ci C k/Audito Waterloo, Iowa
.Ahlers,Cooney Dorweiler,Haynie,Smith&Allbee,Lawyers,Des Moines Iowa
June 18 1987
The City Clerk/Auditor of Waterloo, Iowa, met in the
Council Chambers, City Hall , Waterloo, Iowa, at 11 :00 o 'clock
A.M. , on the above date, to open sealed bids received 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
11:00 o 'clock A .M. on the above date.
The following persons were present at said meeting:
Frank D. Dowie III , Rose Angel,
Willie Mae Wright and Jack L. Seeber
Absent :
Mary Lichty , Tony Budak, Jim Miller
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Ah!ers,Cooney,Dorweiler,Haynie,Smith&Allbee,Lawyers,Des Moines,Iowa
This being the time and place for the opening of bids for
the sale of $6, 700, 000 Corporate Purpose General Obligation
Bonds , the meeting was opened for the receipt of bids for the
bonds.
Sealed bids were filed and listed in the minutes while
unopened, as follows:
Name & Address of Bidders :
1. The Northern Trust Company
Chicago, Illinois
2. Prudential-Bache Capital Funding
Chicago, Illinois
3. Harris Trust amd Savings Bank
Chicago , Illinois
4. Clayton Brown & Associates , Inc.
Chicago , Illinois
Whereupon the City Clerk/Auditor declared the time for
filing of sealed bids to be closed.
Whereupon, the City Clerk/Auditor declared the sealed bids
be opened. The sealed bids were opened and the best sealed bid
was as follows:
Name & Address of Bidder: The Northern Trust Company,
Chicago , Illinois
Net Interest Rate: 7.812654%
Net Interest Cost: $6 ,131,631.08
Whereupon, all bids were referred to the Council for action
in accordance with the Notice of Sale .
-2-
Ahiers,Cooney,Dorweiler,Haynie,Smith&Allbee,Lawyers,Des Moines,Iowa
June 18 1987
The City Council of Waterloo, Iowa, met in special
session, in the Council Chambers, City Hall , Waterloo, Iowa, at
11:00 o 'clock A .M. , on the above date. There were present
Mayor Bernie -L-. McKinley , in the chair, and the following
named Council Members :
Frank D. Dowie III , Rose Angel ,
Willie Mae Wright and Jack L. Seeber
Absent: Mary Lichty, Tony Budak, Jim Miller
* * * * * * *
-3-
Ahlers,Cooney,Dorweiler,Haynie,Smith&Allbee,Lawyers,Des Moines,Iowa
Frank D. Dowie III introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $6, 700,000
CORPORATE PURPOSE GENERAL OBLIGATION BONDS," and moved its
adoption. Rose Angel seconded the motion to
adopt. The roll was called and the vote was,
AYES: Frank Dowie III , Rose Angel
Willie Mae Wright , Jack L. Seeber
ABSENT:
Mary Lichty, Tony Budak, Jim Miller
Whereupon, the Mayor declared the following Resolution duly
adopted: Resolution No. 1987-322
RESOLUTION DIRECTING SALE OF $6, 700,000
CORPORATE PURPOSE GENERAL OBLIGATION BONDS
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:
$6,700, 000 CORPORATE PURPOSE GENERAL OBLIGATION BONDS:
Bidder: The Northern Trust Co. of Chicago, Illinois
the terms of said bid being:
Total Interest $6,064 ,708. 33
Less Premium/Plus Discount $ 66,922.75
Net Interest Cost $6, 131,631.09
Net Interest Rate 7.812654%
NOW, THEREFORE , BE IT RESOLVED BY THE CITY 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 City Clerk/Auditor are
authorized to execute the same on behalf of the City.
-4-
Ahlers,Cooney Dorweiler Haynie,Smith&Alibee,Lawyers,Des Moines,Iowa
Section 3 . That the notices of the sale of the bonds
heretofore given and all acts of the City Clerk/Auditor done in
furtherance of the sale of said bonds are hereby ratified and
approved. The City Clerk is further authorized to republish the
notice of hearing upon the issuance of $110,000 of the bonds for
the stadium and parking improvements for consideration at the July
6th meeting of the Council.
PASSED AND APPROVED this 18th day of June , 1987.
63
Ft1 e., r\fele.7
Bernard L. McK le Y, Ma r
ATTEST: __-„,
1"
arr P. urger ty Clerk/Auditor
I
CIG-3
4-85
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 heretc
affixed this 19th day of June , 1987.
City erk, aterloo, wa
SEAL
Ahlers,Cooney Dorweder Haynie,Smith&Allbee,lawyers,Des Moines Iowa
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