HomeMy WebLinkAbout2016-11-07-Resolutions 16-478_Bonds - Sewer Revenue CLN Series 2016C - Electronic BiddingRESOLUTION 16-478
RESOLUTION APPROVING ELECTRONIC BIDDING
PROCEDURES AND OFFICIAL STATEMENT
WHEREAS,the Issuer is in need of funds to pay costs of improvements and extensions
to the Municipal Sewer System,including the Southwest Outfall (Phase I)and Fox Creek (Phase
3)projects,and it is deemed necessary and advisable that Sewer Revenue Capital Loan Notes,to
the amount of not to exceed $2,900,000 be authorized for said purpose(s);and
WHEREAS,pursuant to notice published as required by Section 384.24A and 384.83 of
the Code of Iowa,this Council has held a public meeting and hearing upon the proposal to
institute proceedings for the issuance of the Notes,and the Council is therefore now authorized
to proceed with the issuance of said Notes for such purpose(s);and
WHEREAS,in conjunction with its Municipal Advisor,PFM Financial Advisors LLC,
the City has caused a Preliminary Official Statement to be prepared outlining the details of the
proposed sale of the Notes;and
WHEREAS,the Council has received information from its Municipal 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 Notes 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:
Section 1.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 Clerk,upon the advice ofbon~counse andWt~eity'sSSurucipa Advisor,shall
determine to be appropriate,and is authorized to be distributed in connection with the offering of
the Notes for sale.
Section 2.That the receipt of electronic bids by facsimile machine and through the
PARITY Competitive Bidding System described in the Official Statement are hereby found
and determined to provide reasonable security and to maintain the integrity of the competitive
bidding process,and to facilitate the delivery of bids by interested parties in connection with the
offering at public sale.
PASSED AND APPROVED this 7'"day of November,2016.
ayor
ATTEST:
City Clerk
ROLL CALL VOTE
Anna Bergman
Brian Harrison
Shelly Hughes
Larry R.Lyon
Rick Peterson
AYE
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NAY ABSENT ABSTAIN
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