HomeMy WebLinkAbout2015-06-01-Resolutions 15-162_Bonds - Water Revenue CLN - Approve Electronic BiddingRESOLUTION 15-162
RESOLUTION APPROVING ELECTRONIC BIDDING
PROCEDURES AND OFFICIAL STATEMENT
WHEREAS,in conjunction with its Municipal Advisor,Public Financial Management,
Inc.,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 OF THE CITY OF
CLINTON,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 of bond counsel and the City's Municipal 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
PARITY00 competitive bidding system described in the Notice of Sale 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 I"day of June,2015,
M or
ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE
X
X
X
X
NAY ABSENT ABSTAIN