HomeMy WebLinkAbout2017-05-01-J01G GO Bonds Series 2017A - Appoint Agent AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 1, 2017
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 [$13,940,000 General Obligation Bond, Series 2017A]
FORMAT: Consent Agenda
SYNOPSIS INCLUDING PRO & CON: On 04/17/2017, the City Council approved
directing sale of $13,940,000 General Obligation Bond, Series 2017A:
Resolution: Consideration of approval of a resolution directing sale of $13,940,000
(subject to adjustment per terms of offering) General Obligation Bonds, Series 2017A –
Council Member Bergman moved to approve the resolution; seconded by Council
Member Hughes. Jon Burmeister with Public Financial Management (PFM)
congratulated the City on an improved rating from Moody’s Investors Service, then
presented the bid tabulation, recommending award of the sale to Robert W. Baird & Co.,
Inc., at a true interest rate of 3.2654%. Council Member Bergman amended the motion
to approve the resolution, awarding sale to Robert W. Baird & Co., Inc., at a true interest
rate of 3.2654%; Council Member Hughes amended the second. Results of vote: Ayes:
Bergman, Bottenberg, Harrison, Hughes, Lyon. Nays: None. Motion carried 5 – 0.
(Resolution #17-205)
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $13,940,000
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:
RESOLUTION 17-
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, $13,940,000 General Obligation Bonds, Series 2017A, dated May 24, 2017,
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:
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
$13,940,000 General Obligation Bonds, Series 2017A, dated May 24, 2017.
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 1st day of May, 2017.
Mayor
ATTEST:
City Clerk