HomeMy WebLinkAbout2012-695-07/09/2012bP ---U q5
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: July 9, 2012.
Time of Meeting: 5:30 o'clock P.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:
X Resolution Authorizing the Redemption of Outstanding General Obligation
Bonds, Taxable Series 2005B, dated June 1, 2005
Such additional matters as are set forth on the additional 7 page(s) attached hereto.
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.
Suzy Sc ares, City Clerk, Waterloo, Iowa
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July 9, 2012
The City Council of Waterloo, Iowa, met in regular session, in the Council
Chambers, City Hall, Waterloo, Iowa, at 5:30 o'clock P.M., on the above date. There
were present Mayor Ernest G. Clark, in the chair, and the following named Council
Members:
Cole, Getty, Jones, Greenwood, Schmitt, Welper, Hart
Absent: none
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Council Member Schmitt introduced the following Resolution entitled
"RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING
GENERAL OBLIGATION BONDS, TAXABLE SERIES 2005B, DATED JUNE 1,
2005, OF THE CITY OF WATERLOO, IOWA, AND DIRECTING NOTICE OF
REDEMPTION," and moved its adoption. Council Member Welper seconded the motion
to adopt. The roll was called and the vote was,
AYES: Cole, Getty, Jones, Greenwood, Schmitt, Welper, Hart
NAYS: none
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2012-695
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION BONDS,
TAXABLE SERIES 2005B, DATED JUNE 1, 2005, OF
THE CITY OF WATERLOO, IOWA, AND DIRECTING
NOTICE OF REDEMPTION
WHEREAS, the City has heretofore authorized the issuance of $1,900,000
General Obligation Bonds, Taxable Series 2005B, dated June 1, 2005 (the "Taxable
Series 2005A Bonds"); and
WHEREAS, the Taxable Series 2005B Bonds maturing after June 1, 2012 are
redeemable in any order of maturity upon giving notice in the manner provided in the
resolution authorizing the issuance of the Taxable Series 2005B Bonds; and
WHEREAS, the Issuer has sold its General Obligation Bonds, Taxable Series
2012C, portions of the proceeds of which are to be used to refund the outstanding
Taxable Series 2005B Bonds; and
WHEREAS, it is deemed necessary and advisable that the Taxable Series 2005B
Bonds be so redeemed and notices of redemption be given.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
Section 1. That the outstanding General Obligation Bonds, Taxable Series 2005B,
dated June 1, 2005, maturing after June 1, 2012 in the principal amount of $1,210,000, be
and the same are hereby redeemed as of August 13, 2012.
Section 2. Wells Fargo Bank, N.A., as Registrar and Paying Agent for the
Taxable Series 2005B Bonds are hereby authorized and directed to cause notices of such
redemption to be given to bondholders and the bond insurer for each Series of refunded
bonds, respectively, not less than thirty (30) days prior to the redemption date.
Section 3. The Chief Financial Officer is hereby authorized and directed to cause
to be deposited with Wells Fargo Bank, N.A., from the proceeds of the General
Obligation Bonds, Taxable Series 2012C, an amount sufficient to pay all principal and
interest on the redeemed Taxable Series 2005B Bonds to the date of redemption.
Section 4. That the form of such notices be substantially as follows:
NOTICE OF THE CALL OF BONDS FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS:
Please take notice that the Bonds described below have been called for
redemption. Owners of the Bonds should present their Bonds for payment on the
Redemption Date.
Issuer: City of Waterloo, Iowa
Original Issue Amount: $1,900,000
Bond Issue: General Obligation Bonds, Taxable Series 2005B
Dated Date: June 1, 2005
Redemption Date: August 13, 2012
Redemption Price: Par, plus accrued interest
Bonds Called for Redem tp ion
Principal
Interest
Maturity
CUSIP
Amount
Rate
Date
Numbers
$120,000
4.500%
June 1, 2013
941647 CE7
130,000
4.500
June 1, 2014
941647 CF4
135,000
4.625
June 1, 2015
941647 CG2
145,000
5.000
June 1, 2016
941647 CHO
155,000
5.000
June 1, 2017
941647 06
165,000
5.000
June 1, 2018
941647 CK3
175,000
5.000
June 1, 2019
941647 CL1
185,000
5.000
June 1, 2020
941647 CM9
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No representation is made as to the accuracy of the CUSIP numbers printed
herein or on the Bonds.
The above Bonds should be presented to Wells Fargo Bank, N.A., 625 Marquette
Avenue, 11th Floor, Minneapolis, MN 55479; Telephone: (612) 667-4802. This
represents a partial call of the outstanding obligations. All interest on the Bonds being
refunded will cease to accrue on the Redemption Date.
Wells Fargo Bank, National Association
(End of Notice)
PASSED AND APPROVED this 9"' day of July, 2012.
ATTEST:
uzy Schar s, City Clerk
t� �- e fft�z'
m- est G: Clark, Mayor
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CIG -3
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 9t' day of
July, 2012.
i
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Suzy Schar , City Clerk, Waterloo, Iowa
(SEAL)
00878220-1\11310-095