HomeMy WebLinkAbout1988-321-06.13.1988 ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 14, 1988
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:
$5, 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 loc rules of
said governmental body.
it Cl rk/Au itor„ Waerloo, Iowa
L ry P. Burger
AHLERS,COONEY,DORM EILER,HA1:VIE.SMITH&ALLREE
ATTORNEYS AT LAW DES MOINES.IOWA
June 14 1988
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:
Brown, Dell, Fox, Angel, Wright and Budak
Absent: Buck
AIILERS,COONEY.UL HJ ;FILER.HAYNIE.SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
This being the time and place for the opening of bids for
the sale of $5, 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 :
The Northern Trust Company, 50 South LaSalle Street, Chicago,
Illinois 60675
Clayton Brown & Associates, Inc. , 500 West Madison Street,
Suite 3000, Chicago, Illinois 60606
Chiles Heider/Division Shearson Lehman Hutton, Inc. , 1300 Woodmen
Tower, Omaha, NE
The First National Bank of Chicago, One First National Plaza,
Chicago, Illinois 60670
Harris Trust and Savings Bank, P. O. Box 755, Chicago, Illinois 60690
Whereupon the Clerk declared the time for filing of sealed
bids to be closed.
Whereupon, the Clerk declared the sealed bids be opened.
The sealed bids were opened and the best sealed bid was as
follows:
Name & Address of Bidder: Clayton Brown & Associates, Inc.
500 W. Madison, suite JUDO--
Net Interest Rate: 7. 28006oChicago, IL
Net Interest Cost: $5_079,966. 89
Whereupon, all bids were referred to the Council for action
in accordance with the Notice of Sale.
AHLERS,COONEY.DIN HAYNIE.SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES.IOWA
June 14 , 1988
The City Council of Waterloo, Iowa, met in Special
session, in the Council Chambers , City Hall , Waterloo, Iowa, at
11 : 00 o'clock A .M. , on the above date. There were present
Mayor Pro Tem Bob Brown , in the chair, and the following
named Council Members :
Dell, Fox, Angel, Wright and Budak
Brown
Absent: Buck
* * * * * * *
MILERS.COONEY.DO$WEILER,HAY'NIE.SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
Wright introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $5, 700, 000
CORPORATE PURPOSE GENERAL OBLIGATION BONDS, " and moved its
adoption. Angel seconded the motion to
adopt. The roll was called and the vote was,
AYES: Brown, Dell, Fox, Angel,
Wright and Budak
XXX ABSENT: Buck
Whereupon, the Mayor declared the following Resolution duly
adopted: RESOLUTION NO. 1988-321
RESOLUTION DIRECTING SALE OF $5, 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:
$5,700,000 CORPORATE PURPOSE GENERAL OBLIGATION BONDS
Clayton Brown &
Bidder: Associates, Inc. of Chicago, IL
the terms of said bid being:
Total interest: 5, 324, 008 . 13
Plus Discount 55, 958 . 76
Net Interest Cost 5, 379, 966. 89
Net Interest Rate 7. 28006%
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 Clerk are authorized to
execute the same on behalf of the City.
-4-
AIILERS.GOONEY,I)ORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
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 14th day of June
1988.
lita
Mayor Pro Te
Robert J. Brown
ATTEST:
£
le
La ry Burger
AHLERS.GOONEY,IOHEILEH,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
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 hereto
affixed this 14th day of June 1988.
die;
it CJ , Watery
La y t) Burger/
SEAL / r
MILERS,GOONEY,DORWEILER,HAYNIE.SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES.IOWA
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