Sale of Water Revenue BondsTHE CITY OF DUBUQUE
Masterpiece on the Mississippi
Dubuque
All-American City
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: $1,195,000 Water Revenue Bonds, Series 2008D
DATE: October 1, 2008
The sale of 1,195,000 Water Revenue Bonds to provide funds to pay costs of water
main replacements and repairs, construction of water main extensions, and the
acquisition and installation of pump station radio communications equipment and
facilities will be held Monday, October 6, 2008 at 11:00 a.m. The results will be brought
to the October 6 City Council meeting. A letter from attorney William Noth detailing
information on the bond sale is enclosed.
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Ken TeKippe, Finance Director
AHLERS & COONEY, P.C.
100 COURT AVENUE, SUITE 600
DES MOINES, IOWA 50309-2231
PHONE: 515-243-7611
FAX: 515-243-2149
WWW.AHLERSLAW.COM
WILLIAM J. NOTH
wnoth@ahlerslaw.com
Direct Dial:
(515) 246-0332
September 23, 2008
BY OVERNIGHT DELIVERY
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE: $1,195,000 Water Revenue Bonds, Series 2008D
Dear Ken TeKippe:
With this letter I am enclosing suggested proceedings for the sale date of October
6, 2008, awarding the above Bonds to the best bidder for the same.
At the designated time, sealed, facsimile and electronic bids for the Bonds should
be received by the Finance Officer and listed in the report of sale to be delivered to the City
Council. After a final call for sealed bids, the bids, should then be opened and the best bid
recorded. Only sealed and electronic bids are permitted by the terms of sale. All bids
should then be referred to the Council for award of the Bonds.
The Terms of Offering set out the restrictions on the type of interest rates which
may be bid. Bids must comply with the Terms of Offering. Different interest rates may
be bid for this issue. Each interest rate must be in multiple of one-eighth or one-
twentieth of one percent.
September 23, 2008
Page 2
An extra copy of the proceedingsis enclosed to be completed as the original and
returned to us for our transcrip of the action taken. We also would appreciate receiving a
copy of the signed bid form.
If any questions arise, please keep me advised.
Very truly yours,
William J. Noth
WJN:dc
encl.
cc: Michael Maloney (w/encl.)
Jenny Larson (w/encl.)
ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: __________, 2008.
Time of Meeting: __________ o'clock __.M.
Place of Meeting Historic Federal Building, 350 West 6th Street, Dubuque,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at eh date, time and place above set on. The tentative agenda for said
meeting is as follows:
$1,195,000 Water Revenue Bonds, Series 2008D
Resolution directing sale.
Such additional matters as are set forth on the additional ____ Page(s) attacher hereto.
(number)
This notice is given at the director of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
City Clerk, Dubuque, Iowa
__________, 2008
The Finance Director of Dubuque, iowa, met in the office of the Finanace Director,
City Hall, Dubuque, Iowa, at ____ o'clock __.M., on the above date, to open sealed
bids received, access facsimile bids, and access electronic bids and to refer the sale of the
Bonds, to the best and most favorable bidder for cash, subject to approval by the City
Council at ____ o'clock __.M. on the above date.
The following persons were present:
______________________________________
______________________________________
Absent: ________________________________
* * * * * * * *
This being the time and place for the opening of bids for the sale of $1,195,000
Water Revenue Bonds, Series 2008D, the meeting was opened for the receipt of bids for
the Bonds. The following actions were taken:
1. Sealed bids were filed and listed in the minutes while unopened, as follows:
Name & Address of Bidders:
2. The Finance Officer then declared the time for filing of sealed bids to be closed
and that the sealed bids be opened. The sealed bids were opened and announced.
3. Electronic bids received were accessed and announced as follows:
Name & Address of Bidders:
4. The best bid was determined to be as follows:
Name & Address of Bidder:
Purchase Price: $
Net Interest Cost: $
True Interest Cost:
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
2
2008
The City Council of Dubuque, Iowa, met in
Federal Building, 350 West 6th Street, Dubuque, Iowa, at
above date. There were,present Mayor
the following named Council Members:
Absent:
*~**~**
session, in the Historic
_ o'clock _.M., on the
in the chair, and
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Council Member introduced the fallowing
Resolution entitled "RESOLUTION DIRECTING SALE OF $1,195,000 WATER
REVENUE BONDS, SERIES 2008D" and moved its adoption. Council Member
seconded the motion to adopt. The roll was called and
the vote was,
AYES:
NAYS:
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION DIRECTING SALE OF $ 1, 195,000 WATER
REVENUE BONDS, SERIES 2008D
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Bonds described as follows and the best bid received is determined to
be the following:
$1,195,000 WATER REVENUE BONDS, SERIES 2008D:
Bidder:
of
the terms of said bid being:
Purchase Price: $
True Interest Cost:
Net Interest Cost: $
4
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, 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, said Bonds are hereby awarded based on
said bid.
Section 2. That the form of contract for the sale of said Bonds is 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 said Bonds are hereby ratified and approved.
Section 4. That the preliminary Official Statement in the form presented to this
meeting be and the same hereby is approved as to form, and prior action by the Finance
Officer to deem final the same for purposes of Rule 15c2-12 of the Securities and
Exchange Commission is hereby ratified, confirmed and approved.
PASSED AND APPROVED, this
2008.
Mayor
ATTEST:
City Clerk
day of
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CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said
law and with members of the public present in attendance; I further certify that the
individuals named therein were on the date thereof duly and lawfully possessed of their
respective city offices as indicated therein, that no Council vacancy existed except as may
be stated in said proceedings, and that no controversy or litigation is pending, prayed or
threatened involving the incorporation, organization, existence or boundaries of the City
or the right of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of said Municipality hereto affixed this
day of , 2008.
City Clerk, Dubuque, Iowa
SEAL
DCORNELU 593042.1 /MSWord\]0422.085
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