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Sale of $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021BCopyrighted May 3, 2021 City of Dubuque Action Items # 4. City Council Meeting ITEM TITLE: Proceedings for Directing Sale of $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and Awarding Bonds to Best Bidder SUMMARY: City Manager recommending City Council approval of the suggested proceedings for directing sale of the $29,395,000 Tax Exempt General Obligation Bonds, Series 2021 A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and awarding bonds to the best bidder. RESOLUTION Directing sale of $29,395,000* (subject to adjustment per terms of offering) General Obligation Bonds, Series 2021A RESOLUTION Directing Sale of $12,945,000* (subject to adjustment per terms of offering) Taxable General Obligation Bonds, Series 2021 B RESOLUTION Authorizing the Redemption of Outstanding General Obligation Urban Renewal Bonds, Series 2012A, of the City of Dubuque, State of Iowa, dated March 15, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding General Obligation Bonds, Series 2012B, of the City of Dubuque, State of Iowa, dated March 15, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding General Obligation Bonds, Series 2012E, of the City of Dubuque, State of Iowa, Dated December 10, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding General Obligation Urban Renewal Bonds, Series 2012H, of the City of Dubuque, State of Iowa, dated December 10, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding Taxable General Obligation Bonds, Series 2012C, of the City of Dubuque, State of Iowa, dated June 28, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding Taxable General Obligation Bonds, Series 2012F, of the City of Dubuque, State of Iowa, dated December 10, 2012, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding General Obligation Capital Loan Notes, Series 201413, of the City of Dubuque, State of Iowa, dated December 8, 2014, and directing notice be given RESOLUTION Authorizing the Redemption of Outstanding Taxable General Obligation Capital Loan Notes, Series 2014C, of the City of Dubuque, State of Iowa, dated December8, 2014, and directing notice be given SUGGESTED Suggested Disposition: Receive and File; Adopt Resolution(s) DISPOSITION: ATTACHMENTS: Description Type MVM Memo City Manager Memo Staff Memo Staff Memo Bond Counsel Letter Supporting Documentation Series 2021A Resolution Resolutions Series 2021 B Resolution Resolutions Series 2012A Redemption Resolution Resolutions Series 2012B Redemption Resolution Resolutions Series 2012E Redemption Resolution Resolutions Series 2012H Redemption Resolution Resolutions Series 2012C Redemption Resolution Resolutions Series 2012F Redemption Resolution Resolutions Series 2014B Redemption Resolution Resolutions Series 2014C Redemption Resolution Resolutions THE C Dubuque DUUB-.'&--FE All-AmericaCity . ti ��, Masterpiece on the Mississippi 12-2013 2017*2019 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Proceedings for Directing Sale of $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and Awarding Bonds to Best Bidder DATE: April 26, 2021 Director of Finance and Budget Jennifer Larson recommends City Council Approval of the suggested proceedings for directing sale of the $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and awarding bonds to the best bidder. The bond sale will be held on May 3, 2021 at 10:00 a.m. The results will be brought to the May 3rd City Council meeting. A letter from attorney Kristin Billingsley Cooper detailing information on the bond sale proceedings is enclosed. I concur with the recommendation and respectfully request Mayor and City Council approval. . /� k�4 ZA-:�4� Michael C. Van Milligen JML Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Cassie Ross, Assistant Director of Finance THE C Dubuque DUUB-.'&--FE All-AmericaCity . ti ��, Masterpiece on the Mississippi 12-2013 2017*2019 TO: Michael C. Van Milligen, City Manager FROM: Jennifer Larson, Director of Finance and Budget SUBJECT: Proceedings for Directing Sale of $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and Awarding Bonds to Best Bidder DATE: April 26, 2021 DISCUSSION The purpose of this memorandum is to recommend directing sale of the $29,395,000 Tax Exempt General Obligation Bonds, Series 2021A and $12,495,000 Taxable General Obligation Bonds, Series 2021 B and awarding bonds to the best bidder. The bond sale will be held on May 3, 2021 at 10:00 a.m. The results will be brought to the May 3rd City Council meeting. A letter from attorney Kristin Billingsley Cooper detailing information on the bond sale proceedings is enclosed. RECOMMENDATION I respectfully recommend the adoption of the enclosed resolutions to award the sale of the bonds and redemption of the refunded bonds. JML Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Cassie Ross, Assistant Director of Finance Ahlers & Cooney, P.C. Attorneys at Law AHLERS COONEY 100 Court Avenue, Suite 600 A T T 0 R N E Y 5 Des Moines, Iowa 50309-2231 Phone: 515-243-7611 Fax: 515-243-2149 www.ahlerslaw.com April 26, 2021 VIA E-MAIL Ms. Jenny Larson Director of Finance & Budget City of Dubuque 50 West 13th Street Dubuque, Iowa 52001 Kristin B. Cooper 515.246.0330 kcooper@ahlerslaw.com RE: Dubuque, Iowa - $29,395,000* (Subject to Adjustment Pursuant to Terms of Offering) General Obligation Bonds, Series 2021A; and $12,945,000* (Subject to Adjustment Pursuant to Terms of Offering) Taxable General Obligation Bonds, Series 2021B Dear Jenny: We have now prepared procedures for the sale date (May 3, 2021) covering minutes of the reception of bids at 10:00 A.M. and the form of resolutions awarding the Bonds to the best bidder. Sealed bids for the above -referenced Bonds should be received and listed in the minutes. Any bids received by fax should be sealed in an envelope and opened with the sealed bids. After a final call for sealed bids, the bids should then be opened and the best bid recorded. Only sealed bids are permitted by the terms of sale. No oral bids should be considered. Once any sealed bids have been first opened, the PARITY® electronic bid system can be accessed and the best such bid noted. All bids should then be referred to the Council for award of the Bonds at the 6:30 P.M. meeting. We have also prepared proceedings to be adopted by the Council calling: • $2,665,000 General Obligation Urban Renewal Bonds, Series 2012A • $4,515,000 General Obligation Bonds, Series 2012B • $1,965,000 General Obligation Bonds, Series 2012E • $1,410,000 General Obligation Urban Renewal Bonds, Series 2012H • $14,820,000 General Obligation Bonds, Series 2014B • $4,465,000 Taxable General Obligation Bonds, Series 2012C • $140,000 Taxable General Obligation Bonds, Series 2012F • $6,885,000 Taxable General Obligation Capital Loan Notes, Series 2014C WISHARD & BAILY - 1888; GUERNSEY & BAILY - 1893; BAILY & STIPP - 1901; STIPP, PERRY, BANNISTER & STARZINGER - 1914; BANNISTER, CARPENTER, AHLERS & COONEY - 1950; AHLERS, COONEY, DORWEILER, ALLBEE, HAYNIE & SMITH - 1974; AHLERS, COONEY, DORWEILER, HAYNIE, SMITH & ALLBEE, P.C. - 1990 April 26, 2021 Page 2 These Resolutions should be adopted only after proposals are accepted for the sale of the 2021 General Obligation Bonds. According to the provisions of the resolutions authorizing issuance of the refunded Bonds/Notes, notice must be given at least thirty (30) days prior to the redemption date. Wells Fargo, N.A., as the Registrar and Paying Agent, is responsible for sending the redemption notices. The Refunded Bonds will be called on June 4, 2021 and the Notices of Call must be sent by May 4, 2021. Wells Fargo, N.A. should also send a copy of the Notices to the purchasers of record, and by e-mail to The Depository Trust Company at "redemptionnotification@dtcc.com". Finally, the Municipal Securities Rulemaking Board should be notified by sending the Notice in searchable PDF format to the Electronic Municipal Market Access website a.k.a. "EMMA" (emma.msrb.org) and click on 'Emma Dataport". Please print out and mail back original copies to my attention as well as an electronic scan. If any questions arise, please do not hesitate to contact me. Very truly yours, Ahlers & Cooney, P.C. Kristin Billingsley Cooper FOR THE FIRM KBC:seb Enclosures cc: Adrienne N. Breitfelder, City of Dubuque (via e-mail w/enc.) Trish Gleason, City of Dubuque (via e-mail w/enc.) Tionna Pooler, Independent Public Advisors (via e-mail w/enc.) Scott Brown, Wells Fargo, N.A. (via e-mail w/enc.) 01864415-1\10422-209 ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA $29,395,000* (Subject to Adjustment per Terms of Offering) General Obligation Bonds, Series 2021A • Receipt of bids. • ∙ Resolu Resolution directing sale. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The Director of Finance & Budget of the City of Dubuque, State of Iowa, met in City Hall, 50 West 13th Street, Dubuque, Iowa 52001, at 10:00 A.M., on the above date, to access electronic bids, open sealed 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 6:30 P.M. on the above date. The following persons were present: Tionna Pooler, President, Independent Public Advisors Jennifer Larson, Director of Finance and Budget ________________________________________________ * * * * * * * * - 2 - This being the time and place for the opening of bids for the sale of $29,395,000* (Subject to Adjustment per Terms of Offering) General Obligation Bonds, Series 2021A, 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: (Attach List of Bidders) 2. The Director of Finance & Budget 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: (Attach List of Bidders) 4. The best bid was determined to be as follows: Name & Address of Bidder: FHN Financial Capital Markets / New York, NY True Interest Rate (as-bid): 1.362773% Net Interest Cost (as-bid): $2,995,411.16 In consultation with Independent Public Advisors, LLC, the City considered the adjustment of the aggregate principal amount of the Bonds and each scheduled maturity thereof in accordance with the Terms of Offering and the following actions were taken: Final Par Amount as adjusted: $29,395,000.00 Purchase Price as adjusted: $30,648,255.78 All bids were then referred to the Council for action. Page | 1 of 1 CITY OF DUBUQUE, IOWA TABULATION OF BIDS $29,395,0001 General Obligation Bonds, Series 2021A $12,945,0002 Taxable General Obligation Bonds, Series 2021B 1 Following the receipt of bids, the par amount was revised to $27,995,000, the purchase price was revised to $29,191,185.18, the net interest was revised to $2,853,359.55, and the true interest cost was revised to 1.367618%. 2 Following the receipt of bids, the par amount was revised to $12,535,000, the purchase price was revised to $12,846,797.79, the net interest was revised to $1,458,205.82, and the true interest cost was revised to 1.620137%. Banking Institution/ Syndicate Location Purchase Price Net Interest Cost True Interest Cost FHN Financial Capital Markets New York, NY $30,648,255.78 $2,955,411.16 1.362773% Morgan Stanley & Co. LLC New York, NY Wiley Brother-Aintree Capital, LLC Raymond James & Associates, Inc. St. Petersberg, FL Ziegler Ramirez & Co. Inc New York, NY Advisors Asset Management UBS Financial Services Inc. Weehawken, NJ Benchmark Securities Nashville, TN Chicago, IL Tacoma, WA Winter Park, FL Huntington Securities, Inc Chicago, IL 30,646,399.06 2,995,805.92 1.380395% Robert W. Baird Red Bank, NJ 30,561,738.86 3,063,587.34 1.414938% KeyBanc Capital Markets Cleveland, OH 32,222,594.89 3,485,405.53 1.549245% J.P. Morgan Securities LLC New York, NY 32,124,666.92 3,583,333.50 1.596305% Banking Institution/ Syndicate Location Purchase Price Net Interest Cost True Interest Cost UMB Bank N.A. Kansas City, MO $13,264,961.24 $1,511,319.59 1.623106% Piper Sandler & Co. Chicago, IL 12,888,642.85 1,507,581.46 1.640380% The Baker Group Oklahoma City, OK 12,955,891.01 1,540,238.02 1.674422% Northland Securities, Inc. Minneapolis, MN 12,860,912.60 1,538,809.90 1.675926% BOK Financial Securities, Inc. Dallas, TX 12,985,217.55 1,568,146.73 1.703982% Robert W. Baird & Co., Inc. Milwaukee, WI 12,964,157.86 1,616,650.23 1.757789% Raymond James & Associates, Inc. Memphis, TN 12,893,018.24 1,658,344.10 1.805943% KeyBanc Capital Markets Cleveland, OH 12,865,136.50 1,752,360.98 1.908197% Morgan Stanley & Co, LLC New York, NY 12,845,388.22 1,843,405.59 2.011380% - 3 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met via electronic means, an in- person meeting being impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 4 - Council Member Resnick introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF $29,395,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) GENERAL OBLIGATION BONDS, SERIES 2021A," and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called and the vote was, AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the following Resolution duly adopted: Resolution No. 144-21 RESOLUTION DIRECTING SALE OF $29,395,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) GENERAL OBLIGATION BONDS, SERIES 2021A 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: $29,395,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) GENERAL OBLIGATION BONDS, SERIES 2021A Bidder: FHN Financial Capital Markets of New York, NY The terms of award: Final Par Amount as adjusted: $29,395,000.00 Purchase Price as adjusted: $30,648,255.78 True Interest Rate: 1.362773% Net Interest Cost: $2,995,411.16 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, 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. City of Dubuque Series 2021A Comparison Tax Exempt Ankeny Aa1 Dubuque Aa3 Dubuque (Aa3) compared to Maturity MMD Yields (+/-) MMD Yields (+/-) MMD Ankeny (Aa1) 2022 0.09%0.09%+0.00%0.20%+0.11%+0.11% 2023 0.11%0.11%+0.00%0.24%+0.13%+0.13% 2024 0.21%0.21%+0.00%0.35%+0.14%+0.14% 2025 0.33%0.34%+0.01%0.50%+0.17%+0.16% 2026 0.45%0.47%+0.02%0.65%+0.20%+0.18% 2027 0.57%0.62%+0.05%0.79%+0.22%+0.17% 2028 0.70%0.76%+0.06%0.95%+0.25%+0.19% 2029 0.83%0.90%+0.07%1.15%+0.32%+0.25% 2030 0.93%1.00%+0.07%1.28%+0.35%+0.28% 2031 1.00%1.20%+0.20%1.40%+0.40%+0.20% Hawkeye (Aa1)Dubuque Aa3 Dubuque (Aa3) compared to Maturity Yields (+/-) MMD Yields (+/-) MMD Hawkeye (Aa1) 2022 0.18%+0.12%0.20%+0.11%-+0.01% 2023 0.24%+0.06%0.26%+0.15%+0.09% 2024 0.40%+0.04%0.43%+0.22%+0.18% 2025 0.35%-0.23%0.79%+0.45%+0.68% 2026 0.90%+0.02%0.95%+0.48%+0.46% 2027 1.15%-0.15%1.30%+0.68%+0.83% 2028 1.35%+0.05%1.40%+0.64%+0.59% 2029 1.50%+0.20%1.50%+0.60%+0.40% 2030 1.60%-0.02%1.60%+0.60%+0.62% 2031 1.75%+0.13%1.70%+0.50%+0.37% Notes: Ankeny, IA $25,045,000 General Obligation Bonds Sold May 3, 2021. Dubuque, IA 27,995,000 General Obligation Bonds Sold May 3, 2021. Hawkeye Community College $9,725,000 NJTC Sold April 27, 2021. Prepared by Independent Public Advisors, LLC Page 1 of 1 Date:5/3/2021; Time: 5:37 PM ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA $12,945,000* (Subject to Adjustment per Terms of Offering) Taxable General Obligation Bonds, Series 2021B • Receipt of bids. • ∙ Resolu Resolution directing sale. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The Director of Finance & Budget of the City of Dubuque, State of Iowa, met in City Hall, 50 West 13th Street, Dubuque, Iowa 52001, at 10:00 A.M., on the above date, to access electronic bids, open sealed 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 6:30 P.M. on the above date. The following persons were present: Tionna Pooler, President, Independent Public Advisors Jennifer Larson, Director of Finance and Budget ________________________________________________ * * * * * * * * - 2 - This being the time and place for the opening of bids for the sale of $12,945,000* (Subject to Adjustment per Terms of Offering) Taxable General Obligation Bonds, Series 2021B, 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: (Attach List of Bidders) 2. The Director of Finance & Budget 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: (Attach List of Bidders) 4. The best bid was determined to be as follows: Name & Address of Bidder: UMB Bank N.A. / Kansas City, MO True Interest Rate (as-bid): 1.623106% Net Interest Cost (as-bid): $1,511,319.59 In consultation with Independent Public Advisors, LLC, the City considered the adjustment of the aggregate principal amount of the Bonds and each scheduled maturity thereof in accordance with the Terms of Offering and the following actions were taken: Final Par Amount as adjusted: $12,945,000.00 Purchase Price as adjusted: $13,264,961.24 All bids were then referred to the Council for action. Page | 1 of 1 CITY OF DUBUQUE, IOWA TABULATION OF BIDS $29,395,0001 General Obligation Bonds, Series 2021A $12,945,0002 Taxable General Obligation Bonds, Series 2021B 1 Following the receipt of bids, the par amount was revised to $27,995,000, the purchase price was revised to $29,191,185.18, the net interest was revised to $2,853,359.55, and the true interest cost was revised to 1.367618%. 2 Following the receipt of bids, the par amount was revised to $12,535,000, the purchase price was revised to $12,846,797.79, the net interest was revised to $1,458,205.82, and the true interest cost was revised to 1.620137%. Banking Institution/ Syndicate Location Purchase Price Net Interest Cost True Interest Cost FHN Financial Capital Markets New York, NY $30,648,255.78 $2,955,411.16 1.362773% Morgan Stanley & Co. LLC New York, NY Wiley Brother-Aintree Capital, LLC Raymond James & Associates, Inc. St. Petersberg, FL Ziegler Ramirez & Co. Inc New York, NY Advisors Asset Management UBS Financial Services Inc. Weehawken, NJ Benchmark Securities Nashville, TN Chicago, IL Tacoma, WA Winter Park, FL Huntington Securities, Inc Chicago, IL 30,646,399.06 2,995,805.92 1.380395% Robert W. Baird Red Bank, NJ 30,561,738.86 3,063,587.34 1.414938% KeyBanc Capital Markets Cleveland, OH 32,222,594.89 3,485,405.53 1.549245% J.P. Morgan Securities LLC New York, NY 32,124,666.92 3,583,333.50 1.596305% Banking Institution/ Syndicate Location Purchase Price Net Interest Cost True Interest Cost UMB Bank N.A. Kansas City, MO $13,264,961.24 $1,511,319.59 1.623106% Piper Sandler & Co. Chicago, IL 12,888,642.85 1,507,581.46 1.640380% The Baker Group Oklahoma City, OK 12,955,891.01 1,540,238.02 1.674422% Northland Securities, Inc. Minneapolis, MN 12,860,912.60 1,538,809.90 1.675926% BOK Financial Securities, Inc. Dallas, TX 12,985,217.55 1,568,146.73 1.703982% Robert W. Baird & Co., Inc. Milwaukee, WI 12,964,157.86 1,616,650.23 1.757789% Raymond James & Associates, Inc. Memphis, TN 12,893,018.24 1,658,344.10 1.805943% KeyBanc Capital Markets Cleveland, OH 12,865,136.50 1,752,360.98 1.908197% Morgan Stanley & Co, LLC New York, NY 12,845,388.22 1,843,405.59 2.011380% - 3 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met via electronic means, an in- person meeting being impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 4 - Council Member Resnick introduced the following Resolution entitled "RESOLUTION DIRECTING SALE OF $12,945,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) TAXABLE GENERAL OBLIGATION BONDS, SERIES 2021B," and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called and the vote was, AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the following Resolution duly adopted: Resolution No. 145-21 RESOLUTION DIRECTING SALE OF $12,945,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) TAXABLE GENERAL OBLIGATION BONDS, SERIES 2021B 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: $12,945,000* (SUBJECT TO ADJUSTMENT PER TERMS OF OFFERING) TAXABLE GENERAL OBLIGATION BONDS, SERIES 2021B Bidder: UMB Bank N.A. of Kansas City, MO The terms of award: Final Par Amount as adjusted: $12,945,000.00 Purchase Price as adjusted: $ 13,264,961.24 True Interest Rate: 1.623106% Net Interest Cost: $1,511,319.59 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, 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. ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA General Obligation Urban Renewal Bonds, Series 2012A • Resolution Authorizing the Redemption of Outstanding General Obligation Urban Renewal Bonds, Series 2012A, dated March 15, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met via electronic means, an in- person meeting being impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2012A, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED MARCH 15, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 146-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2012A, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED MARCH 15, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated February 20, 2012, authorize the issuance of $4,380,000 General Obligation Urban Renewal Bonds, Series 2012A, (the "Bonds") dated March 15, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2020 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $2,665,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. - 3 - NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Urban Renewal Bonds, dated March 15, 2012, in the principal amount of $2,665,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by first class mail, and to notify DTC. Section 3. The Finance Director is hereby authorized and directed to cause to be deposited in a separate fund such sum that is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $4,380,000 Bond Issue: General Obligation Urban Renewal Bonds, Series 2012A Dated Date: March 15, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 U43 9 $230,000 2.000% 2022 263867 U50 10 $240,000 2.125% 2023 263867 U68 11 $245,000 2.250% 2024 263867 U76 12 $250,000 2.375% 2025 263867 U84 13 $260,000 2.500% 2026 263867 U92 14 $270,000 2.500% 2027 263867 V26 15 $275,000 2.750% 2028 263867 V34 16 $285,000 3.000% 2029 263867 V42 17 $300,000 3.000% 2030 263867 V59 18 $310,000 3.000% 2031 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. - 5 - The above Bonds should be presented to Wells Fargo Bank, Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA General Obligation Bonds, Series 2012B • Resolution Authorizing the Redemption of Outstanding General Obligation Bonds, Series 2012B, dated March 15, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met via electronic means, an in- person meeting being impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2012B, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED MARCH 15, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 147-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2012B, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED MARCH 15, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated February 20, 2021, authorize the issuance of $7,495,000 General Obligation Bonds, Series 2012B, (the "Bonds") dated March 15, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2020 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $4,515,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. - 3 - NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Bonds, dated March 15, 2012, in the principal amount of $4,515,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by certified mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum that is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $7,495,000 Bond Issue: General Obligation Bonds, Series 2012B Dated Date: March 15, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 W74 10 $395,000 2.250% 2022 263867 W82 11 $400,000 2.250% 2023 263867 W90 12 $415,000 2.375% 2024 263867 X24 13 $425,000 2.500% 2025 263867 X32 14 $440,000 2.500% 2026 263867 X40 15 $455,000 3.000% 2027 263867 X57 16 $470,000 3.000% 2028 263867 X65 17 $485,000 3.000% 2029 263867 X73 18 $505,000 3.000% 2030 263867 X81 19 $525,000 3.125% 2031 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. - 5 - The above Bonds should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA General Obligation Bonds, Series 2012E • Resolution Authorizing the Redemption of Outstanding General Obligation Bonds, Series 2012E, dated December 10, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met via electronic means, an in- person meeting being impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2012E, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 148-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2012E, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated November 19, 2012, authorize the issuance of $3,640,000 General Obligation Bonds, Series 2012E, (the "Bonds") dated December 10, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2018 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $1,965,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. - 3 - NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Bonds, dated December 10, 2012, in the principal amount of $1,965,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by ordinary mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $3,640,000 Bond Issue: General Obligation Bonds, Series 2012E Dated Date: December 10, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 3L5 9 $230,000 2.000% 2022 263867 3M3 10 $230,000 2.125% 2023 263867 3N1 11 $155,000 2.250% 2024 263867 3P6 12 $160,000 2.375% 2025 263867 3Q4 13 $165,000 2.500% 2026 263867 3R2 14 $170,000 2.500% 2027 263867 3S0 15 $175,000 3.000% 2028 263867 3T8 16 $165,000 3.000% 2029 263867 3U5 17 $165,000 3.000% 2030 263867 3V3 18 $170,000 3.000% 2031 263867 3W1 19 $180,000 3.000% 2032 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. - 5 - The above Bonds should be presented to Wells Fargo Bank, N.A, Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA General Obligation Urban Renewal Bonds, Series 2012H • Resolution Authorizing the Redemption of Outstanding General Obligation Urban Renewal Bonds, Series 2012H, dated December 10, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met in Regular session, via electronic means, an in-person meeting being deemed impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2012H, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 149-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2012H, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated November 19, 2012, authorize the issuance of $2,385,000 General Obligation Urban Renewal Bonds, Series 2012H, (the "Bonds") dated December 10, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2018 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $1,410,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Urban Renewal Bonds, dated December 10, 2012, in the principal amount of $1,410,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to - 3 - the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by ordinary mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $2,385,000 Bond Issue: General Obligation Urban Renewal Bonds, Series 2012H Dated Date: December 10, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 4N0 263867 4P5 263867 4Q3 263867 4R1 263867 4S9 263867 4T7 263867 4U4 263867 4V2 263867 4W0 263867 4Y6 8 9 10 11 12 13 14 15 16 17 $115,000 $115,000 $120,000 $120,000 $125,000 $125,000 $130,000 $135,000 $140,000 $285,000 2.000% 2.125% 2.250% 2.375% 2.500% 2.500% 2.625% 2.750% 2.750% 3.000% 2022 2023 2024 2025 2026 2027 2028 2029 2030 2032* * Term Bond, Final Maturity No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. - 5 - The above Bonds should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA Taxable General Obligation Bonds, Series 2012C • Resolution Authorizing the Redemption of Outstanding Taxable General Obligation Bonds, Series 2012C, dated June 28, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met in Regular session, via electronic means, an in-person meeting being deemed impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION BONDS, SERIES 2012C, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED JUNE 28, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 150-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION BONDS, SERIES 2012C, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED JUNE 28, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated June 18, 2012, authorize the issuance of $6,965,000 Taxable General Obligation Bonds, Series 2012C, (the "Bonds") dated June 28, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2019 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $4,465,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding Taxable General Obligation Bonds, dated June 28, 2012, in the principal amount of $4,465,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by ordinary mail, and to notify DTC. - 3 - Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $6,965,000 Bond Issue: Taxable General Obligation Bonds, Series 2012C Dated Date: June 28, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 Y98 263867 Z22 263867 Z30 263867 Z48 263867 Z55 263867 Z63 263867 Z71 263867 Z89 263867 Z97 263867 2A0 263867 2B8 9 10 11 12 13 14 15 16 17 18 19 $355,000 $350,000 $360,000 $375,000 $385,000 $400,000 $415,000 $430,000 $445,000 $465,000 $485,000 2.500% 2.750% 3.000% 3.150% 3.300% 3.450% 3.550% 3.650% 3.750% 3.850% 3.900% 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. - 5 - The above Bonds should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA Taxable General Obligation Bonds, Series 2012F • Resolution Authorizing the Redemption of Outstanding Taxable General Obligation Bonds, Series 2012F, dated December 10, 2012. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met in Regular session, via electronic means, an in-person meeting being deemed impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION BONDS, SERIES 2012F, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 151-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION BONDS, SERIES 2012F, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 10, 2012, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated November 19, 2012, authorize the issuance of $1,035,000 Taxable General Obligation Bonds, Series 2012F, (the "Bonds") dated December 10, 2012; and WHEREAS, the Bonds are redeemable in any order of their numbering on June 1, 2018 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Bonds; and WHEREAS, it is deemed necessary and advisable that $140,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding Taxable General Obligation Bonds, dated December 10, 2012, in the principal amount of $140,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to - 3 - the redemption date and to cause notice of redemption to be mailed to the registered owners of the Bonds by ordinary mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Bonds to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Bonds in accordance with the Continuing Disclosure Certificate for the Bonds. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS: Please take notice that the Bonds described below have been called for redemption. Owners of the Bonds should present their Bonds for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $1,035,000 Bond Issue: Taxable General Obligation Bonds, Series 2012F Dated Date: December 10, 2012 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Bonds Called for Redemption CUSIP Numbers Bond Numbers Principal Amount Interest Rate Maturity Date 263867 4E0 8 $140,000 2.200% 2022 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Bonds. The above Bonds should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA General Obligation Capital Loan Notes, Series 2014B • Resolution Authorizing the Redemption of Outstanding General Obligation Capital Loan Notes, Series 2014B, dated December 8, 2014. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met in Regular session, via electronic means, an in-person meeting being deemed impossible or impractical due to the COVID-19 pandemic, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2014B, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 8, 2014, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 152-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2014B, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 8, 2014, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated December 1, 2014, authorize the issuance of $18,835,000 General Obligation Capital Loan Notes, Series 2014B, (the "Notes") dated December 8, 2014; and WHEREAS, the Notes are redeemable in any order of their numbering on June 1, 2021 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Notes; and WHEREAS, it is deemed necessary and advisable that $14,820,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Notes. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Capital Loan Notes, dated December 8, 2014, in the principal amount of $14,820,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A., is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to - 3 - the redemption date and to cause notice of redemption to be mailed to the registered owners of the Notes by ordinary mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Notes to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Notes in accordance with the Continuing Disclosure Certificate for the Notes. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF NOTES FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED NOTES: Please take notice that the Notes described below have been called for redemption. Owners of the Notes should present their Notes for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $18,835,000 Note Issue: General Obligation Capital Loan Notes, Series 2014B Dated Date: December 8, 2014 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Notes Called for Redemption CUSIP Numbers Note Numbers Principal Amount Interest Rate Maturity Date 263867 5Q2 263867 5R0 263867 5S8 263867 5T6 263867 5U3 263867 5V1 263867 5W9 263867 5X7 263867 5Y5 263867 5Z2 263867 6A6 263867 6B4 263867 6C2 7 8 9 10 11 12 13 14 15 16 17 18 19 $1,055,000 $1,035,000 $1,055,000 $1,090,000 $1,040,000 $1,065,000 $1,105,000 $1,145,000 $1,180,000 $1,200,000 $1,240,000 $1,285,000 $1,325,000 3.000% 3.000% 3.000% 3.000% 3.000% 3.000% 3.125% 3.250% 3.375% 3.500% 3.500% 3.500% 3.625% 2022 2023 2024 2025 2026 2027 2028 2029 2030 3031 2032 2033 2034 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Notes. - 5 - The above Notes should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice) ITEMS TO INCLUDE ON AGENDA CITY OF DUBUQUE, IOWA Taxable General Obligation Capital Loan Notes, Series 2014C • Resolution Authorizing the Redemption of Outstanding Taxable General Obligation Capital Loan Notes, Series 2014C, dated December 8, 2014. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. - 1 - May 3, 2021 The City Council of the City of Dubuque, State of Iowa, met in Regular session, via electronic means, an in-person meeting being deemed impossible or impractical due to the COVID-19 pandemic,, at 6:30 P.M., on the above date. There were present Mayor Roy D. Buol, in the chair, and the following named Council Members: Cavanagh, Farber, Jones, Resnick, Roussell, Sprank Absent: ___________________________________________ Vacant: ___________________________________________ * * * * * * * - 2 - Council Member Resnick introduced the following Resolution entitled "A RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2014C, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 8, 2014, AND DIRECTING NOTICE BE GIVEN" and moved its adoption. Council Member Jones seconded the motion to adopt. The roll was called, and the vote was: AYES: Cavanagh, Resnick, Farber, Sprank, Buol, Roussell, Jones ___________________________________________ NAYS: ___________________________________________ Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 153-21 RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2014C, OF THE CITY OF DUBUQUE, STATE OF IOWA, DATED DECEMBER 8, 2014, AND DIRECTING NOTICE BE GIVEN WHEREAS, the City did by resolution dated December 1, 2014, authorize the issuance of $7,615,000 Taxable General Obligation Capital Loan Notes, Series 2014C, (the "Notes") dated December 8, 2014; and WHEREAS, the Notes are redeemable in any order of their numbering on June 1, 2021 or any date thereafter upon giving notice in the manner provided in the resolution authorizing the issuance of the Notes; and WHEREAS, it is deemed necessary and advisable that $6,885,000 be so redeemed on June 4, 2021 and notice of redemption be given according to the terms of the resolution authorizing issuance of the Notes. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That outstanding General Obligation Capital Loan Notes, dated December 8, 2014, in the principal amount of $6,885,000, be and the same are hereby redeemed as of June 4, 2021. Section 2. The Registrar and Paying Agent, Wells Fargo Bank, N.A. is hereby authorized and directed to cause notice of such redemption be given not less than thirty (30) days prior to - 3 - the redemption date and to cause notice of redemption to be mailed to the registered owners of the Notes by ordinary mail, and to notify DTC. Section 3. The Director of Finance & Budget is hereby authorized and directed to cause to be deposited in a separate fund such sum as is sufficient to pay all principal and interest on the redeemed Notes to the date of redemption and to notify the City's dissemination agent to post the Notice of Redemption to the MSRB's website (EMMA) in searchable PDF format for the refunded Notes in accordance with the Continuing Disclosure Certificate for the Notes. Section 4. That the form of such notice be substantially as follows: - 4 - NOTICE OF THE CALL OF NOTES FOR REDEMPTION TO THE HOLDERS OF THE FOLLOWING DESCRIBED NOTES: Please take notice that the Notes described below have been called for redemption. Owners of the Notes should present their Notes for payment on the redemption date. Issuer: City of Dubuque, State of Iowa Original Issue Amount: $7,615,000 Note Issue: Taxable General Obligation Capital Loan Notes, Series 2014C Dated Date: December 8, 2014 Redemption Date: June 4, 2021 Redemption Price: Par, plus accrued interest Notes Called for Redemption CUSIP Numbers Note Numbers Principal Amount Interest Rate Maturity Date 263867 6K4 263867 6L2 263867 6M0 263867 6N8 263867 6P3 263867 6Q1 263867 6R9 263867 6S7 263867 6T5 263867 6U2 263867 6V0 263867 6W8 263867 6X6 7 8 9 10 11 12 13 14 15 16 17 18 19 $425,000 $440,000 $450,000 $470,000 $480,000 $500,000 $520,000 $540,000 $565,000 $590,000 $610,000 $635,000 $660,000 3.000% 3.000% 3.000% 3.200% 3.350% 3.500% 3.650% 4.000% 4.000% 4.000% 4.000% 4.125% 4.125% 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 No representation is made as to the accuracy of the CUSIP numbers printed herein or on the Notes. - 5 - The above Notes should be presented to Wells Fargo Bank, N.A., Minneapolis, Minnesota. This represents a full call of the outstanding obligations. All interest will cease to accrue on the Redemption Date. WELLS FARGO BANK, N.A., Minneapolis, Minnesota (End of Notice)