HomeMy WebLinkAbout2014-11-03-Resolutions 14-315_Bonds - GO Urban Renewal Series 2014 - Direct SaleRESOLUTION 14-315
RESOLUTION DIRECTING SALE OF $23,295,000 (SUBJECT
TO AD JUSTMENT PER TERMS OF OFFERING)GENERAL
OBLIGATION URBAN RENEWAL BONDS,SERIES 2014
WHEREAS,bids have been received for the Bonds described as follows and the best bid
received (with permitted adjustments,if any)is determined to be the following:
$23,295,000 (SUBJECT TO AD JUSTMENT PER TERMS OF
OFFERING)GENERAL OBLIGATION URBAN RENEWAL
BONDS,SERIES 2014:
Bidder:Hutchinson,Shockey,Erley &Co.of Clucago,IL
The terms of award:
Final Par Amount as adjusted:$23,295,000.00
Purchase Price as adjusted;$23,126,720.26
True Interest Rate:2.8607'/o
Net Interest Cost:$6,676,959.21
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA:
Section 1.That the bid for the Bonds as above set out is hereby determined to be the best
and most favorable bid received and,the Bonds are hereby awarded as described above.
Section 2.That the statement of information for Bond bidders and the form of contract
for the sale of the Bonds are h.ereby approved and the Mayor and Clerk are authorized to execute
the same on behalf of the City.
Section 3.That the notice of the sale of the Bonds heretofore given and all acts of the
Clerk done in furtherance of the sale of the Bonds are hereby ratified and approved.
PASSED AND APPROVED this 3'day of November,2014.
ayor
ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
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NAY ABSENT ABSTAIN
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