HomeMy WebLinkAbout2006-06-05-Resolutions 06-111_Bonds - GO Urban Renewal Corp Purpose Series 2006B - Accept BidsTHE CITY OF WAUKEE,IOWA
RESOLUTION 06-111
ACCEPTANCE OF BIDS FOR $4,950,000 GENERAL OBLIGATION URBAN
RENEWAL CORPORATE PURPOSE BONDS,SERIES 2006B
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,on June 5,2006 at 1:00 p.m.sealed bids were received and canvassed for
the purchase of General Obligation Urban Renewal Corporate Purpose Bonds,Series
2006B,in the aggregate principal amount of $4,950,000 (the "Bonds")for the purpose
of planning,undertaking and carrying out urban renewal proj ects in the Waukee Urban
Renewal Area (the "Urban Renewal Area"),consisting of the construction of street,
storm sewer,sidewalk and landscaping improvements and installing street lighting and
traffic signals;AND,
WHEREAS,the results of the bids were read and the substance of such bids are
attached as the Tabulation of Bids;AND,
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee,
Iowa in session this the 5th day of June 2006 that the City Council accepts to low bid of
Morgan Keegan &Company of Memphis,TN,underwriter and opposed to all bids
received.
Attest:
son,Interim City Administrator/ClerkJo
ROLL CALL VOTE
Donald L.Bailey,Jr.
Isaiah McGee
Jeff Mertz
Darlene Stanton
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT
1
TABULATION OF BIDS
CITY OF WAUKEE,IOWA
$4,950,000 General Obligation Urban Renewal Corporate Purpose Bonds,Series 2006B
AWARD:
MORGAN KEEGAN &COMPANY,INC.
RATINGS:Moody's Investors Service 'Aaa'
Standard &Poor's 'AAA'
CIFG Insured
No underlying ratings on the Bonds
SALE DATE:Monday,June 5,2006
NAME OF BIDDER PRICE
COUPON
RATE YEAR
NET INTEREST COST
&TRUE INTEREST RATE
MORGAN KEEGAN &COMPANY,INC.
Memphis,Tennessee
ill BANK,n.a.
Kansas City,Missouri
HARRIS,N.A.
Chicago,Illinois
WELLS FARGO BROKERAGE SERVICES
Minneapolis,Minnesota
FTN Financial Capital Markets
Isaak Bond Investments,Inc.
The Bankers Bank
Ruan Securities
GRIFFIN,KUBIK,STEPHENS &
THOMPSON,INC.
Chicago,Illinois
4.00%
3.80%
3.85%
3.90%
3.95%
4.00%
4.05%
4.10%
3.85%
3.875%
3.90%
4.00%
4.05%
4.10%
4.00%
2007-2020
2007-2012
2013
2014
2015-2016
2017-2018
2019
2020
2007
2008-2015
2016
2017-2018
2019
2020
2007-2020
$1,503,626.80 $4,945,623.20
4.0146%
$1,508,787.14 $4,920,795.00
4.0367%
$1,519,472.54 $4,909,955.10
4.0727%
$1,539,146.90 $4,910,103.10
4.1297%
The PFM Group
Public Financial Management.Inc.
PFM Asset Management LLC
PFM Advisors
Terrace Place.Suite 214
2600 Grand Avenue
Des Moines.1.1\50312
515243-2600
515243-6994 fax
www.pfm.com
$4,950,000 General Obligation Urban Renewal Corporate Purpose Bonds,Series 2006B
City of Waukee,Iowa
~onday,June5,2006
Page 2
NAME OF BIDDER PRICE
COUPON NET INTEREST COST
RATE YEAR &TRUE INTEREST RATE
RBC CAPITAL MARKETS
West Des Moines,Iowa
Northland Securities
3.90%
3.95%
4.00%
4.05%
4.10%
4.15%
4.20%
2007-2013
2014
2015
2016
2017
2018
2019-2020
$1,560,026,32
4.1818%
$4,905,450,00
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