HomeMy WebLinkAbout2016-12-05-J01C Sewer Revenue CLN Series 2016C - Appoint Agent AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: December 5, 2016
AGENDA ITEM: Consideration of approval of a resolution appointing Paying Agent, Note
Registrar, and Transfer Agent, approving the Paying Agent and Note
Registrar and Transfer Agent Agreement and authorizing the execution
of the Agreement [$2,685,000 Sewer Revenue Capital Loan Notes,
Series 2016C]
FORMAT: Consent Agenda
SYNOPSIS INCLUDING PRO & CON: On 11/21/2016, the City Council approved
directing sale of $2,685,000 Sewer Revenue Capital Loan Notes, Series
2016C:
Resolution: 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 – Council Member Lyon moved to approve the resolution; seconded by Council
Member Hughes. Jenny Blankenship with Public Financial Management (PFM)
presented the bid tabulation, noting the low bid from Northland Securities, Inc., at a true
interest rate of 2.9454%. Results of vote: Ayes: Bergman, Hughes, Lyon, Peterson.
Nays: None. Absent: Harrison. Motion carried 4 – 0 – 1. (Resolution #16-495)
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $2,685,000
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 16-
RESOLUTION APPOINTING BANKERS TRUST COMPANY OF
DES MOINES, IOWA, TO SERVE AS PAYING AGENT, NOTE
REGISTRAR, AND TRANSFER AGENT, APPROVING THE
PAYING AGENT AND NOTE REGISTRAR AND TRANSFER
AGENT AGREEMENT AND AUTHORIZING THE EXECUTION
OF THE AGREEMENT
WHEREAS, $2,685,000 Sewer Revenue Capital Loan Notes, Series 2016C, dated
December 20, 2016, 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 notes; 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 notes; and
WHEREAS, a Paying Agent, Note 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, Note Registrar and Transfer Agent in connection with the issuance of
$2,685,000 Sewer Revenue Capital Loan Notes, Series 2016C, dated December 5, 2016.
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 5th day of December, 2016.
Mayor
ATTEST:
City Clerk