HomeMy WebLinkAbout2016-08-15-J03 GO Refunding Bonds Series 2016B - Direct Sale AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: August 15, 2016
AGENDA ITEM: Consideration of approval of a resolution directing sale of $1,720,000
(subject to adjustment per terms of offering) General Obligation
Refunding Bonds, Series 2016B
FORMAT: Resolution
SYNOPSIS INCLUDING PRO & CON: On 08/01/2016, the City Council approved
directing the advertisement for sale of the bonds. The bid opening is
scheduled for 10:00 a.m. on Monday, August 15, 2016.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Representatives from PFM will attend to present bid
tabulations and final par amounts, and to make a recommendation on
proposal acceptance.
RECOMMENDATION: Approve the Resolution.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY: Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
RESOLUTION 16-
RESOLUTION DIRECTING SALE OF $1,720,000 (SUBJECT
TO ADJUSTMENT PER TERMS OF OFFERING) GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2016B
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:
$1,720,000 (SUBJECT TO ADJUSTMENT PER TERMS OF
OFFERING) GENERAL OBLIGATION REFUNDING BONDS,
SERIES 2016B
Bidder: _________________________ of _________________________
The terms of award:
Final Par Amount as adjusted: $____________________
Purchase Price as adjusted: $ ____________________
True Interest Rate: ____________________%
Net Interest Cost: $____________________
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 hereby 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 15th day of August, 2016.
Mayor
ATTEST:
City Clerk