HomeMy WebLinkAbout2012-08-06-Resolutions 12-176_Bonds - Water Revenue CLN - Direct SaleRESOLUTION #12-176
RESOLUTION DIRECTING SALE OF WATER REVENUE CAPITAL
LOAN NOTES,TAXABLE SERIES 2012C
WHEREAS,pursuant to notice as required by law,bids have been received at
public sale for the notes described as follows and the best bid received is determined to
be the following:
WATER REVENUE CAPITAL LOAN NOTES,TAXABLE SERIES
20l2C:
Bidder:Hutchinson,Shockey,Erley &Co.of Chicago,IL
the terms of said bid being:
Par Amount:$2,625,000.00
Purchase Price:$2,596,125.00
True Interest Rate:3.3999%
Net Interest Cost:$1,024,132.14
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That the bid for the notes as above set out is hereby determined to be
the best and most favorable bid received and,the notes are hereby awarded based on the
bid.
Section 2.That the statement of information for bidders and the form of contract
for the sale of the notes are hereby approved and the Mayor and Clerk are authorized to
execute the same on behalf of the City.
PASSED AND APPROVED this 6th day of August,2012.
ATTEST:
City Clerk 1
ROLL CALL VOTE
Shane Blanchard
Dan Dntcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
x
X
X
NAY ABSENT
X
ABSTAIN
X