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Home My WebLink About05/29/1996May 29, 1996 The City Clerk of the City of Waterloo, Iowa, met in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, at 1:00 p.m. on Wednesday, May 29, 1996, to open bids and receive and refer the sale of $4,200,000 Corporate Purpose General Obligation Bonds, $5,000,000 Taxable Sewer Revenue Bonds, Series 1996A, $4,995,000 Sewer Revenue Refunding Bonds, Series 1996B, 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: City Clerk Susan Fangman; Finance Manager Bruce Meisinger: Dan Forbes and Larry Burger from Speer Financial; Dale Minor, Hogan Hansen; and Ken Haynie from Ahlers Law Firm. This being the time and place for the opening of bids for the sale of $4,200,000 Corporate Purpose General Obligation Bonds, the meeting was opened for the receipt of bids for the bonds. The following sealed bids were received, placed on file but NOT OPENED and sealed bidding closed: Name of Bidder 1. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, IL 2. Harris Trust and Savings Bank, Chicago, IL 3. Piper Jaffray Inc., Minneapolis, MN Whereupon the City Clerk declared the time for filing of sealed bids whereupon the City Clerk declared the sealed bids be opened, which were Name of Bidder 1. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, IL 2. Harris Trust and Savings Bank, Chicago, IL 3. Piper Jaffray Inc., Minneapolis, ',MN Whereupon all bids were referred to the p.m. in the City Hall Council Chambers This being the time and place for the Sewer Revenue Bonds, Series 1996A, the bonds. The following sealed bids were bidding closed: Name of Bidder 1. 2. 3. 4. 5. 6. 7. Cronin & Co., Inc., Minneapolis, to be closed, and as follows: Net Interest. 5.3681$ 5.2621% 5.42536% Council for action at the meeting to be held at 4:30 on May 29, 1996. opening of bids for the sale of $5,000,000 Taxable meeting was opened for the receipt of bids for the received, placed on file, but NOT OPENED and sealed MN Fidelity Capital Markets, Chicago, IL Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Raymond James & Associates, Inc., New York, NY Morgan Keegan & Company, Inc., Nashville, TN Piper Jaffray Inc., Minneapolis, MN Wheat First Butcher Singer, Richmond, VA IL Whereupon the City Clerk declared the time for filing of sealed bids to be closed, whereupon the City Clerk declared the sealed bids be opened, which were as follows: Name of Bidder 1. Cronin & Co., Inc., Minneapolis, MN 2. Fidelity Capital Markets, Chicago, IL 3. Griffin, Kubik, Stephens & Thompson, Inc., Chicago, IL 4. Raymond James & Associates, Inc., New York, NY 5. Morgan Keegan & Company, Inc., Nashville, TN 6. Piper Jaffray Inc., Minneapolis, MN 7. Wheat First Butcher Singer, Richmond, VA Net Interest 7.8604% 7.636287% 7.8273% 7.746247% 7.613% 7.867138% 7.639838% and This being the time and place for the opening of bids forthe sale of $4,995,000 Sewer Revenue Refunding Bonds, Series 1996B, the meeting was opened for the receiptof bids for the bonds. 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Ayes: Six. Absent: Murphy. Motion carried. 106767 - Krizek/Jordan that "Resolution authorizing the sale and award of $4,200,000 Corporate Purpose General Obligation Bonds to Harris Trust and Savings Bank of Chicago, Illinois", be adopted. Ayes: Six. Absent: Murphy. Resolution adopted and upon approval by Mayor assigned No. 1996-363. 106768 - Getty/Krizek that the City Clerk be instructed to return the unsuccessful bids and checks. Ayes: Six. Absent: Murphy. Motion carried. 106769 - Getty/Jordan that proof of publication of Notice of Sale on the consideration of the proposal of issuance of not to exceed $5,000,000 Taxable Sewer Revenue Bonds, Series 1996A, as published in the Waterloo Courier on May 23, 1996, be received and placed on file. Ayes: Six. Absent: Murphy. Motion carried. 106770 - Jordan/Krizek that "Resolution authorizing the sale and award of $5,000,000 Taxable Sewer Revenue Bonds, Series 1996A to Morgan Keegan & Company, Inc. of Nashville, Tennessee", be adopted. Ayes: Six. Absent: Murphy. Resolution adopted and upon approval by Mayor assigned No. 1996-364. 106771 - Krizek/Jordan that the City Clerk be instructed to return the unsuccessful bids and checks. Ayes: Six. Absent: Murphy. Motion carried. 106772 - Getty/Jordan that proof of publication of Notice of Sale on the consideration of the proposal of issuance of not to exceed $4,995,000 Sewer Revenue Refunding Bonds, Series 1996B, as published in the Waterloo Courier on May 23, 1996, be received and placed on file. Ayes: Six. Absent: Murphy. Motion carried. 106773 - Mollenhoff/Collier that "Resolution authorizing the sale and award of $4,995,000 Sewer Revenue Refunding Bonds, Series 1996B'. to First of America Securities, Inc. of Kalamazoo, Michigan", be adopted. Ayes:. Six. Absent: Murphy. Resolution adopted and upon approval by Mayor assigned No. 1996-365. 106774 - Mollenhoff/Jordan that the City Clerk be instructed to return the unsuccessful bids and checks. Ayes: Six. Absent: Murphy. Motion carried. 106775 - Mollenhoff/Jordan that the Council adjourn at 5:02 p.m. Ayes: Six. Absent: Murphy. Motion carried. Susan Fangman City Clerk