HomeMy WebLinkAbout2024-04-15 Resolution 2024-160_Bonds, Sewer Revenue CLN Series 2016C, RedemptionRESOLUTION 2024-160
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING SEWER REVENUE CAPITAL LOAN NOTES,
SERIES 2016C, OF THE CITY OF WAUKEE, STATE OF
IOWA, DATED DECEMBER 20, 2016, AND DIRECTING
NOTICE BE GIVEN
WHEREAS, the City did by resolution dated December 5, 2016, authorize the issuance of
$2,685,000 Sewer Revenue Capital Loan Notes, Series 2016C, (the "Notes") dated December 20,
2016; and
WHEREAS, the Notes are redeemable in any order of their numbering on June 1, 2024 or
any date thereafter upon giving notice in the manner provided in the resolution authorizing the
issuance of the Notes; and
WHEREAS, it is deemed necessary and advisable that $2,075,000 be so redeemed on
June 1, 2024 and notice of redemption be given according to the terms of the resolution
authorizing issuance of the Notes.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That outstanding Sewer Revenue Capital Loan Notes, dated December 20,
2016, in the principal amount of $2,075,000, be and the same are hereby redeemed as of June 1,
2024.
Section 2. The Registrar and Paying Agent, UMB Bank, N.A., in its capacity as assignee
of and successor to Bankers Trust Company, is hereby authorized and directed to cause notice of
such redemption be given not less than thirty (30) days prior to the redemption date and to cause
notice of redemption to be mailed to the registered owners of the Notes by ordinary mail, and to
notify DTC.
Section 3. The Director of Finance is hereby authorized and directed to cause to be
deposited in a separate fund sum sufficient to pay all principal and interest on the redeemed
Notes to the date of redemption and to notify the City's dissemination agent to post the Notice of
Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Notes
in accordance with the Continuing Disclosure Certificate for the Notes.
Section 4. That the form of such notice be substantially as follows:
NOUCE OF FULL REDEXIEPTION
To the Holders of the
City of Waukee, State of Iowa
Serer Revenue Capital Loan Notes
Series 2016C
$2,685,000
Dated December 20, 2016
Notice is hereby B Yen by U134B Bank. N.A. that the Notes of the abor, e referenced issue which
mature on June 1. in the following years and amounts are called for redemption and prepayment
on June 1, 2024-
Year
Amount
InterestRale
QU�RNa -
2026
$295,000
3.00%
942838C1:8
2028
$315,000
3.00%
942838CH4
2030
$330,000
3.00%
942838CK7
2032
$355,000
3.00%
942838CN,13
2034
$375,000
3.00%
942938CP6
2036
$405,000
3.125%
942838CR22
The'Notes will be redeemed at a price of 100% of their principal amount plus accrued interest to
the date of redemption- Holders of such Notes should present them for payment on or before
said Redemption Date, on which date they will cease to bear interest-.
Re_uisteredlCertified.MiL Air Courier or In Person:
UXIB Bank, N.A.
Attn: Corporate Trust Dept, Bond Operations
928 Grand Blvd, 91h Floor, LMS 1010903
Kansas City, Nf 0 64106
Please DO NOT submit your securities for payment more than 30 days in advance of the
redemption date- When inquiring about this redemption, please have the Note number available.
Customer Service can be reached at 800-416-6211 12.
Under the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "Act").
24% will be withheld if a tax identification number is not properly certified. Bondholders
wish to avoid the application of these provisions should submit a completed IRS Form W-9
w-hen presenting their Notes_
Thisnotice is given by order of the City of Waukee, Iowa pursuant to the terms of the
resolution authorizing the redemption of these notes, dated April 15, 2024.
By: UMB BANK, N-A., as Paying Agent
PASSED AND APPROVED this 15'' day of April, 2024.
ATTEST:
City Clerk
RESULTS OF VOTE:
AYE
R. Charles Bottenberg
X
Chris Crone
X
Rob Grove
X
Anna Bergman Pierce
X
Ben Sinclair
X
Mayor
NAY ABSENT ABSTAIN