HomeMy WebLinkAbout2016-11-21-Resolutions 16-495_Bonds - Sewer Revenue CLN Series 2016C - Direct SaleRESOLUTION 16-495
RESOLUTION DIRECTING SALE OF $2,685,000 (SUBJECT
TO ADJUSTMENT PER TERMS OF OFFERING)SEWER
REVENUE CAPITAL LOAN NOTES,SERIES 2016C
WHEREAS,bids have been received for the Notes described as follows and the best bid
received (with permitted adjustments,if any)is determined to be the following:
$2,685,000 (SUBJECT TO ADJUSTMENT PER TERMS OF
OFFERING)SEWER REVENUE CAPITAL LOAN NOTES,
SERIES 2016C
Bidder:Northland Securities,Inc.,of Minneapolis,MN
The terms of award:
Final Par Amount as adjusted:$2,685,000.00
Purchase Price as adjusted:$2,706,843.50
True Interest Rate:2.9454'/o
Net Interest Cost:$968,925.41
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 as described above.
Section 2.That the statement of information for Note 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.
Section 3.That all acts of the Clerk done in furtherance of the sale of the Notes are
hereby ratified and approved.
PASSED AND APPROVED this 21"day of November,2016.
ATTEST:
City Clerk
ROLL CALL VOTE
Anna Bergman
Brian Harrison
Shelly Hughes
Larry R.Lyon
Rick Peterson
AYE
X
X
X
X
NAY ABSENT ABSTAIN