HomeMy WebLinkAbout2018-06-04-J01L Water Revenue Bonds Series 2018B - Appoint AgentAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: June 4, 2018
AGENDA ITEM:Consideration of approval of a resolution appointing Paying Agent, Bond
Registrar, and Transfer Agent, Approving the Paying Agent and Bond
Registrar and Transfer Agent Agreement and Authorizing the Execution
of the Agreement [$3,410,000 Water Revenue Bonds, Series 2018B]
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: On 05/21/2018, the City Council approved
directing sale of $3,410,000 Water Revenue Bonds, Series 2018B
2018A:
Resolution: Consideration of approval of a resolution directing sale of $3,410,000
(subject to adjustment per terms of offering) Water Revenue Bonds, Series 2018B –
Council Member Bottenberg moved to approve the resolution; seconded by Council
Member Bergman. Matt Stoffel with Public Financial Management (PFM) presented the
bid tabulation and recommended award to Bernardi Securities of Chicago, IL, in the
amount of $3,410,000 at a true interest rate of 3.3854%. Council Member Bottenberg
amended the motion to adopt PFM’s recommendation; Council Member Bergman
amended the second. Results of vote: Ayes: Bergman, Bottenberg, Hughes. Nays: None.
Absent: Clarke, Lyon. Motion carried 3 – 0 – 2. (Resolution #18-211)
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:$3,410,000
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: City Bond Counsel has provided the proceedings.
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
J1L
RESOLUTION 18-
RESOLUTION APPOINTING BANKERS TRUST COMPANY
OF DES MOINES, IOWA, TO SERVE AS PAYING AGENT,
BOND REGISTRAR, AND TRANSFER AGENT, APPROVING
THE PAYING AGENT AND BOND REGISTRAR AND
TRANSFER AGENT AGREEMENT AND AUTHORIZING
THE EXECUTION OF THE AGREEMENT
WHEREAS, $3,410,000 Water Revenue Bonds, Series 2018B, dated June 19, 2018, have
been sold and action should now be taken to provide for the maintenance of records, registration
of certificates and payment of principal and interest in connection with the issuance of the bonds;
and
WHEREAS, this Council has deemed that the services offered by Bankers Trust
Company of Des Moines, Iowa, are necessary for compliance with rules, regulations, and
requirements governing the registration, transfer and payment of registered bonds; and
WHEREAS, a Paying Agent, Bond Registrar and Transfer Agent Agreement (hereafter
"Agreement") has been prepared to be entered into between the City and Bankers Trust
Company.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That Bankers Trust Company of Des Moines, Iowa, is hereby appointed to
serve as Paying Agent, Bond Registrar and Transfer Agent in connection with the issuance of
$3,410,000 Water Revenue Bonds, Series 2018B, dated June 19, 2018.
Section 2. That the Agreement with Bankers Trust Company of Des Moines, Iowa, is
hereby approved and that the Mayor and Clerk are authorized to sign the Agreement on behalf of
the City.
PASSED AND APPROVED this 4th day of June, 2018.
Mayor
ATTEST:
City Clerk