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Home My WebLink About2013-04-01-Resolutions 13-074_Bonds - GO URR Series 2013C - Advertise SaleRESOLUTION 13-074 RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $2,275,000*GENERAL OBLIGATION URBAN RENEWAL REFUNDING BONDS,SERIES 2013C,AND APPROVING ELECTRONIC BIDDING PROCEDURES AND OFFICIAL STATEMENT WHEREAS,the Issuer is in need of funds to pay costs of assisting in the planning, undertaking and carrying out of urban renewal projects under the authority ofIowa Code chapter 403 and the Waukee Unified Urban Renewal Plan,as amended,including the refunding of outstanding urban renewal indebtedness,including the General Obligation Bonds,Series 2006B,an essential corporate purpose project,and it is deemed necessary and advisable that the City issue General Obligation Urban Renewal Refunding Bonds for such purpose to the amount of not to exceed $2,400,000 as authorized by Section 403.12 of the City Code ofIowa;and WHEREAS,pursuant to notice published as required by Sections 384.24 (3)(q), 384.25 and 403.12 this Council has held a public meeting and hearing on April I,2013, upon the proposal to institute proceedings for the issuance of not to exceed $2,400,000 General Obligation Bonds,and all objections,if any,to such Council action made by any resident or property owner of the City were received and considered by the Council;and no petition having been filed,it is the decision of the Council that additional action be taken for the issuance ofthe $2,275,000*General Obligation Urban Renewal Refunding Bonds,Series 2013C,and that such action is considered to be in the best interests of the City and the residents thereof;and WHEREAS,in conjunction with its financial advisor,Public Financial Management,the City has caused a Preliminary Official Statement to be prepared outlining the details of the proposed sale of the Bond. WHEREAS,the Council has received information from its Financial Advisor evaluating and recommending the procedure hereinafter described for electronic, facsimile and internet bidding to maintain the integrity and security of the competitive bidding process and to facilitate the delivery of bids by interested parties;and WHEREAS,the Council deems it in the best interests of the City and the residents thereof to receive bids to purchase such Bonds by means of both sealed and electronic internet communication. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE,STATE OF IOWA: -I - Section I.That the receipt of electronic bids by facsimile machine and through the Parity Competitive Bidding System described in the Notice of Sale are hereby found and determined to provide reasonable security and to maintain the integrity ofthe competitive bidding process,and to facilitate the delivery of bids by interested parties in connection with the offering at public sale. Section 2.That the preliminary Official Statement in the form presented to this meeting be and the same hereby is approved as to form and deemed final for purposes of Rule 15c2-12 of the Securities and Exchange Commission,subject to such revisions, corrections or modifications as the Mayor and City Clerk,upon the advice of bond counsel and the City's Financial Advisor,shall determine to be appropriate,and is authorized to be distributed in connection with the offering of the Bonds for sale. Section 3.That the Clerk is hereby directed to publish notice of sale of said bonds at least once,the last one of which shall be not less than four clear days nor more than twenty days before the date of the sale.Publication shall be made in "The Dallas County News",a legal newspaper,printed wholly in the English language,published within the county in which the bonds are to be offered for sale or an adjacent county.Said notice is given pursuant to Chapter 75 of the Code ofIowa,and shall state that this Council,on the 15th day of April,2013,at 5:30 P.M.,will hold a meeting to act upon bids for said bonds, which bids were previously received and opened by City Officials at 10:00 A.M.on said date.The notice shall be in substantially the following form: -2 - NOTICE OF BOND SALE Time and Place of Sealed Bids:Bids for the sale of General Obligation Bonds, Series 2013B,of the City of Waukee,State ofIowa,will be received at the office of the City Clerk,Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa 50263;Telephone:515-987-4522 (the "Issuer")at 10:00 A.M.,on the 15th day of April, 2013.The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the TERMS OF OFFERING. The Bonds:The bonds to be offered are the following: GENERAL OBLIGATION BONDS,SERIES 2013B,in the amount of $3,280,000*,to be dated May 28,2013;and GENERAL OBLIGATION URBAN RENEWAL REFUNDING BONDS, SERIES 2013C,in the amount of$2,275,000*to be dated May 28,2013 (collectively,the "Bonds ") *The City reserves the right to increase or decrease the aggregate principal amount of the issue.Such change will be in increments of$5,000 and may be made in any ofthe maturities.The purchase price will be adjusted proportionately to reflect any change in issue size. Manner of Bidding:Open bids will not be received.Bids will be received in any of the following methods: •Sealed Bidding:Sealed bids may be submitted and will be received at the office of the City Clerk at City Hall,230 West Hickman Road,Waukee, Iowa 50263. •Electronic Internet Bidding:Electronic internet bids will be received at the office of the City Clerk at City Hall,230 West Hickman Road,Waukee, Iowa 50263.The bids must be submitted through the PARlTY® competitive bidding system. •Electronic Facsimile Bidding:Electronic facsimile bids will be received at the office of the City Clerk at City Hall,230 West Hickman Road,Waukee, Iowa 50263 (facsimile number:515-987-1845);or at the office of the City's Financial Advisor,Public Financial Management,801 Grand Avenue,Suite 3300,Des Moines,Iowa,50309 (facsimile number:515-243-6994). Electronic facsimile bids will be sealed and treated as sealed bids. Consideration of Bids:After the time for receipt of bids has passed,the close of sealed bids will be announced.Sealed bids will then be publicly opened and announced. Finally,electronic internet bids will be accessed and announced. Sale and Award:The sale and award of the Bonds will be held at the Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa at a meeting ofthe City Council on the above date at 5:30 A.M. Official Statement:The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered,including a statement of the Terms of Offering and an Official Bid Form,which is incorporated by reference as a part of this notice.The Official Statement may be obtained by request addressed to the City Clerk,Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa 50263;Telephone:515- 987-4522 or the Issuer's Financial Advisor,Public Financial Management,801 Grand Avenue,Suite 3300,Des Moines,Iowa,60309;Telephone:515-724-5735. Terms of Offering:All bids shall be in conformity with and the sale shall be in accord with the Terms of Offering as set forth in the Official Statement. Legal Opinion:The bonds will be sold subject to the opinion of Ahlers &Cooney, P.C.,Attorneys of Des Moines,Iowa,as to the legality and their opinion will be furnished together with the printed bonds without cost to the purchaser and all bids will be so conditioned.Except to the extent necessary to issue their opinion as to the legality ofthe bonds,the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents,materials or statements made or furnished in connection with the sale,issuance or marketing of the bonds. Rights Reserved:The right is reserved to reject any or all bids,and to waive any irregularities as deemed to be in the best interests of the public. By order of the City Council of the City of Waukee,State ofIowa. McKinlee Gibson City Clerk,City of Waukee,State ofIowa (End of Notice) PASSED AND APPROVED this 1st day of April,2013. ATTEST: ROLL CALL VOTE Shane Blanchard Dan Dutcher Casey L.Harvey Shelly Hughes Mike Watts AYE X X X X X NAY ABSENT ABSTAIN