HomeMy WebLinkAbout2016-11-21-J04 Sewer Revenue CLN Series 2016C - Direct Sale AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 21, 2016
AGENDA ITEM: Consideration of approval of a resolution directing sale of $2,685,000
(subject to adjustment per terms of offering) Sewer Revenue Capital
Loan Notes, Series 2016C
FORMAT: Resolution
SYNOPSIS INCLUDING PRO & CON: The bid opening is scheduled for 10:00 a.m. on
Monday, November 21, 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 $2,685,000 (SUBJECT
TO ADJUSTMENT PER TERMS OF OFFERING) SEWER
REVENUE CAPITAL LOAN NOTES, SERIES 2016C
WHEREAS, bids have been received for the Notes described as follows and the best bid
received (with permitted adjustments, if any) is determined to be the following:
$2,685,000 (SUBJECT TO ADJUSTMENT PER TERMS OF
OFFERING) SEWER REVENUE CAPITAL LOAN NOTES,
SERIES 2016C
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 Notes as above set out is hereby determined to be the best
and most favorable bid received and, the Notes are hereby awarded as described above.
Section 2. That the statement of information for Note bidders and the form of contract for
the sale of the Notes are hereby approved and the Mayor and Clerk are authorized to execute the
same on behalf of the City.
Section 3. That all acts of the Clerk done in furtherance of the sale of the Notes are
hereby ratified and approved.
PASSED AND APPROVED this 21st day of November, 2016.
Mayor
ATTEST:
City Clerk