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Home My WebLink About1988-553-554-09.28.1988 (This Notice to be posted ) NOTICE AND CALL OF PUBLIC MEETING Governmental Body.. The City Council of Waterloo, Iowa. Date of Meeting. September 28, 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 ; $2,245,000 Sewer Revenue Bonds , Series 1988A. - Resolution directing sale . $1, 180, 000 Sewer Revenue Bonds ;, Series 1988B . - 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. LCa Clefk/Au i or, aterloo, Iowa ,f c TILERS.COONEY,DORWEILER, SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA September 28 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, Buck, Angel, Wright Absent: Budak, Fox Dell -1- AHLEHS.COONEY,DORA"EILER,HAYNIE.SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA This being the time and place for the opening of bids for the sale of $2, 245, 000 Sewer Revenue Bonds, Series 1988A, 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. Chiles Heider Division/Shearson Lehman Hutton, Inc. Omaha, Nebraska 2. Griffin, Kubik, Stephens &Thompson Inc. Chicago, Illinois 3. Merrill Lynch Capital Markets Chicago, Illinois Whereupon the Clerk declared the time for tiling 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: Chiles Heider Division/ Name & Address of Bidder; Shearson Lehman Hutton, Inc. Omaha, Nebraska _Net Interest Rate. 7 . 4695% Less Premium/Plus Discount $ Net Interest Cost: $2, 609, 642. 19 Whereupon, all bids were referred to the Council for action in accordance with the Notice of Sale. -2- AHLERS,COONEY.DORWEILER,HAYNIE.SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES.IOWA September 28 , 1988 The City Council of Waterloo, Iowa, met in Special session, in the Council Chambers , City Hall , Waterloo, Iowa; at 11: 000 'clock A .M. , on the above date. There were present Mayor Bernardi.- McKinley , in the chair, and the following named Council Members: Brown, Buck, Angel, Wright Absent. Hudak, Fox, Dell * * * * * * * -3- AHLERS,GOONEY.DORWEILER,HAYNIE,SMITH Sc.ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA Buck introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF $2, 245,000 SEWER REVENUE BONDS , SERIES 1988A" and moved its adoption. Angel seconded the motion to adopt. The roll was called and the vote was, AYES: Brown, Buck, Angel, Wright ABSENT: Budak, Fox, Dell Whereupon, the Mayor declared the following Resolution duly adopted; RESOLUTION NO. 1988-553 RESOLUTION DIRECTING SALE OF $2,245, 000 SEWER REVENUE BONDS , SERIES 1988A 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: $2,245,000 SEWER REVENUE BONDS , SERIES 1988A. Chiles Heider Division/ Bidder; Shearson Lehman Hutton of Omaha, Nebraska the terms of said bid being: Total Interest $2 , 587, 192. 19 Less Premium/Plus Discount 22, 450 . 00 Net Interest Cost 2,609, 642 . 19 Net Interest Rate 7. 4695% 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- AHLERS,COONEF.UORWEILER,HAYNIE,SMITH N ALLREE 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 28th day of September 1988. -- -- ayor Bernar .tden ey ATTEST y._ . u er _ -5- AHLEHS.COONEY.DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES.IOWA September 28 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, Buck, Angel, Wright Absent: Hudak, Fox, Dell -6- AHLERS,COONEY.DORWEILER,HAYNIE,SMITH&ALLREE ATTORNEYS AT LAW DES MOINES,IOWA This being the time and place for the opening of bids for the sale of $1 180,000 Sewer Revenue Bonds , Series 1988B , the meeting was opened for the receipt of bids for the bonds . Sealed bids were filed and listed in the minutes while unopened, as follows. Name & Address of Bidders ; 1 . Chiles Heider Division/Shearson Lehman Hutton, Inc. Omaha, Nebraska 2. Merrill LYnch Capital Markets Chicago, Illinois Whereupon the Clerk declared the time for filing of sealed bids to be closed. Whereupon, the Clerk declared the sealed bids be opened. The sealed bids were opened and the best sealed bid was as follows: Chiles Heider Division/ Name & Address of Bidder: Shearson Lehman Hutton ,inc. Omaha, Nebraska Net I t rest ,Raten 7 . 28005% Less Premium/Plus Discount-$ 11, 800. 00 Net Interest Costr $609,518 . 18 Whereupon,, all bids were referred to the Council for action in accordance with the Notice of Sale. -7- AHLERS,COONEY,DORw EILER,HAYTIE.SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA Spetember 28 1988 The City Council of Waterloos Iowa, met in Special session, in the Council Chambers; City Hall , Waterloo, Iowa, at 11: 0% 'clock A .M. , on the above date . There were present Mayor Bernard Z: McKinley , in the chair, and the following named Council Members. Brown, Buck, Angel, Wright Absent; Budak, Fox, Dell * * * * * * * -8- AHLERS,GOONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA Buck introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF $1, 180, 000 SEWER REVENUE BONDS , SERIES 1988B" and moved its adoption. Angel seconded the motion to adopt . The roll was called and the vote was, AYES . Brown, Buck, Angel, Wright ABSENT: Budak, Fox, Dell Whereupon; the Mayor declared the following Resolution duly adopted. RESIKYTUIB BI, 1988-554 RESOLUTION DIRECTING SALE OF $1, 180, 000 SEWER REVENUE BONDS, SERIES 1988B 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: $1, 180,000 SEWER REVENUE BONDS, SERIES 1988B : Chiles Heider Division/ Bidder: Shearson Lehman Hutton of Omaha, Nebraska the terms of said bid being: Total Interest $597,718 . 18 Less Premium/Plus Discount 11 ,800 . 00 Net Interst Cost $609,518 . 18 Net Interst Rate 7. 28005% 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. -9- AHLERS,COONEY.OORWEILER,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 28th day of September 1988. ---- __—__ _._ or e , L. McKinley ay (4, / At V or a 1 e La ry P. Bur,,g r ( /// -10- AHLERS,COONEY.DORWEILER,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 29th day of _ September , 1988. City Cle , Waterl , Iowa Larry ,f , urger SEAL ! .f AHLERS,GOONEY,DORWEILER,HAYNIE,SMITH&ALLBEE ATTORNEYS AT LAW DES MOINES,IOWA tl Pl0 0 Pl0 0 zr r zr r t�I] H H t l 1-3 H H H H 00 Z0 0 °z 0 H CI) HH 0 En HH 0 • P • PhH to LriH 1/40 H CO H Co H z OD H z co t�1 0 I I Cl) Ui Cl) Ul Cn Cn Cl) Ul w nor nor co th co t=i Oo ao mo � o . 1-11 I—H N F-H N co iP O Ui O O O O O O Cn Cn