Sale of General Obligation Bonds Series 2010A, 2010B, 2010C, 2002BMasterpiece on the Mississippi
July 21, 2010
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
r'
AN- AmericaCky
11 111!
2007
SUBJECT: $4,470,000 General Obligation Bonds, Series 2010A
$2,675,000 Taxable General Obligation Urban Renewal Bonds, Series 2010B
$2,825,000 General Obligation Urban Renewal Bonds, Series 2010C
Bids for the sale of General Obligation Bonds, Series 2010A, Taxable General
Obligation Urban Renewal Bonds, Series 2010B, and General Obligation Urban
Renewal Bonds, Series 2010C, will be received on Monday, August 2, 2010 at 11:00
a.m. The results will be brought to the August 2 City Council meeting for consideration
and approval of the best bids received. A letter from attorney William Noth detailing
information on the bond sales is enclosed.
MCVM /jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Ken TeKippe, Finance Director
Jenny Larson, Budget Director
Mi hael C. Van Milligen
WILLIAM J. NOTH
wnoth @ahlerslaw.com
BY OVERNIGHT DELIVERY
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001 -4864
Dear Mr. TeKippe:
AHLERS
GAP
COONEY, P.C.
100 COURT AVENUE, SUITE 600
DES MONO IOWA 50309 -2231
PHONE 515 -2434 t1
FAX 515 -243 -2149
WWW.AHLERSLAW.COM
July 20, 2010
RE: $4,470,000 General Obligation Bonds, Series 2010A
$2,675,000 Taxable General Obligation Urban Renewal Bonds,
Series 2010B
$2,825,000 General Obligation Urban Renewal Bonds, Series 2010C
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
Direct Dial:
(515)246 -0332
With this letter I am enclosing suggested proceedings for the sale date of August
2, 2010, awarding the above Bonds to the best bidders 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 a 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 each issue. Each interest rate must be in a multiple of one - eighth or one -
twentieth of one percent.
July 20, 2010
Page 2
Extra copies of the proceedings are enclosed to be completed as the originals and
returned to us for our transcript of the action taken. We also would appreciate receiving
copies of the signed bid forms for each series.
WJN:dc
encl.
If any questions arise, please keep me advised.
cc: Tionna Pooler (w /encl.)
Jenny Larson (w /encl.)
662870.1 /MSWord \10422.109
Very truly yours,
Witham J. Noth
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
NOTICE AND CALL OF PUBLIC MEETING
(This Notice to be posted)
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: August 2, 2010.
Time of Meeting: 6:30 o'clock P.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 the date, time and place above set out. The tentative agenda for said
meeting is as follows:
$4,47.0,000 General Obligation Bonds, Series 2010A
Resolution directing sale.
Such additional matters as are set forth on the additional 10 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
illy Clerk, Dubuque, Iowa
The following persons were present:
Tionna Pooler, Kenneth TeKippe
* * * * * * **
1
August 3, 2010
The Finance Director of Dubuque, Iowa, met in the office of the Finance Director,
City Hall, Dubuque, Iowa, at 11:00 o'clock A.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 6:30 o'clock P. M. on the above date.
This being the time and place for the opening of bids for the sale of $4,470,000
General Obligation Bonds, Series 2010A, 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:
None
Bernardi Securities, Inc. — Chicago, Illilnois
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:
BMO Capital Markets GKST, Inc. — Chicago, Illinois
Robert W. Baird & Co., Inc. — Milwaukee, Wisconsin
Coastal Securities, inc. — Houston, Texas
C.L. King & Associates — New York, New York
Davenport & Co., LLC — Richmond, Virginia
Loop Capital Markets, LLC — New York, New York
Kildare Capital — Philadelphia, Pennsylvania
Samco Capital Markets, Inc. — Houston, Texas
Wedbush Morgan Securities — Phoenix, Arizona
Crews & Associates — Little Rock, Arkansas
Jackson Financial Advisors — Scottsdale, Arizona
Cronin & Co., Inc. — Minneapolis, Minnesota
RBC Capital Markets — Minneapolis, Minnesota
Edward D. Jones & Co. — Saint Louis, Missouri
Country Club bank — Prairie Village, Kansas
4. The best bid was determined to be as follows:
Name & Address of Bidder: BMO Capital Markets GKST, Inc., - Chicago, Illinois
Principal Amount: $4,470,000
Purchase Price: $$4,473,966.40
Net Interest Cost: $1,618,287.38
True Interest Cost: 3.2828%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
2
August 3, 2010
The City Council of Dubuque, Iowa, met in regular session, in the Historic Federal
Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date.
There were present Mayor Roy D. Buol, in the chair, and the following named Council
Members:
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch, David Resnick,
Dirk Voetberg
Absent: None
3
Council Member Ric Jones introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION BONDS, SERIES
2010A" and moved its adoption. Council Member Joyce Connors seconded the motion
to adopt. The roll was called and the vote was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 294-10
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION BONDS, SERIES 2010A
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Bonds described as follows and the best bid received is determined to
be the following:
GENERAL OBLIGATION BONDS, SERIES 2010A:
Bidder: BMO Capital Markets GKST, Inc. of Chicago, Illinois
the terms of said bid being:
Principal Amount: $$4,470,000
Purchase Price: $4,473,966.40
True Interest Cost: 3.2838%
Net Interest Cost: $1,618,286.38
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 and Finance Director done in furtherance of the sale of said Bonds are hereby
ratified and approved.
ATTEST:
PASSED AND APPROVED, this 2nd day of August, 2010.
5
STATE OF I.OWA
COUNTY OF DUBUQUE
CERTIFICATE
) SS
CIG -3
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 3 day of
August, 2010.
SEAL
662861.1 /MSWord \10422.109
i ty Clerk, Dubuque, Iowa
6
NOTICE AND CALL OF PUBLIC MEETING
(This Notice to be posted)
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: August 2, 2010.
Time of Meeting: 6:30 o'clock P.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 the date, time and place above set out. The tentative agenda for said
meeting is as follows:
$2,675,000 Taxable General Obligation Urban Renewal Bonds, Series 2010B
Resolution directing sale.
Such additional matters as are set forth on the additional 10 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
ity Clerk, Dubuque, Iowa
August 3, 2010
The Finance Director of Dubuque, Iowa, met in the office of the Finance Director,
City Hall, Dubuque, Iowa, at 11:00 o'clock A.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 6:30 o'clock P. M. on the above date.
The following persons were present:
Tionna Pooler, Kenneth TeKippe
* * * * * * **
1
This being the time and place for the opening of bids for the sale of $2,675,000
Taxable General Obligation Urban Renewal Bonds, Series 2010B, 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:
None
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:
United Bankers' Bank — Bloomington, Minnesota
Morgan Keegan & Co., Inc. — Memphis, Tennessee
Cronin & Co., Inc. — Minneapolis, Minnesota
Robert W. Baird & Co., Inc. — Milwaukee, Wisconsin
Coastal Securities, inc. — Houston, Texas
C.L. King & Associates — New York, New York
Davenport & Co., LLC — Richmond, Virginia
Loop Capital Markets, LLC — New York, New York
Kildare Capital — Philadelphia, Pennsylvania
Samco Capital Markets, Inc. — Houston, Texas
Wedbush Morgan Securities — Phoenix, Arizona
Crews & Associates — Little Rock, Arkansas
Jackson Financial Advisors — Scottsdale, Arizona
RBC Capital Markets — Minneapolis, Minnesota
Edward D. Jones & Co. — Saint Louis, Missouri
Country Club Bank — Prairie Village, Kansas
Northland Securities, Inc. — Minneapolis, Minnesota
Bernardi Securities, Inc. — Chicago, Illinois
BMO Capital Markets GKST, Inc. — Chicago, Illinois
2
4. The best bid was determined to be as follows:
Name & Address of Bidder: United Bankers' Bank — Bloomington, Minnesota
Principal Amount: $2,675,000
Purchase Price: $2,648,510.00
Net Interest Cost: $1,563,537.03
True Interest Cost: 4.6650%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
3
August 3, 2010
The City Council of Dubuque, Iowa, met in regular session, in the Historic Federal
Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date.
There were present Mayor Roy D. Buol, in the chair, and the following named Council
Members:
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch, David Resnick,
Dirk Voetberg
Absent: None
4
Council Member Ric Jones introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF TAXABLE GENERAL OBLIGATION
URBAN RENEWAL BONDS, SERIES 2010B" and moved its adoption. Council
Member Joyce Connors seconded the motion to adopt. The roll was called and the vote
was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the following Resolution duly adopted:
Resolution No. 295 -10
RESOLUTION DIRECTING SALE OF TAXABLE
GENERAL OBLIGATION URBAN RENEWAL BONDS,
SERIES 2010B
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:
TAXABLE GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2010B:
Bidder: United Bankers' Bank of Bloomington, Minnesota
the terms of said bid being:
Principal Amount: $2,675,000
Purchase Price: $2,648,510.00
True Interest Cost: 4.6650%
Net Interest Cost: $1,563,537.03
5
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 and Finance Director done in furtherance of the sale of said Bonds are hereby
ratified and approved.
ATTEST:
PASSED AND APPROVED, this 2nd day of August, 2010.
5
STATE OF IOWA
COUNTY OF DUBUQUE
SEAL
662864.1 /MSWord110422.109
CERTIFICATE
) SS
CIG -3
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 3 day of
August, 2010.
ity Clerk, Dubuque, Iowa
7
NOTICE AND CALL OF PUBLIC MEETING
(This Notice to be posted)
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: August 2, 2010
Time of Meeting: 6:30 o'clock P.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 the date, time and place above set out. The tentative agenda for said
meeting is as follows:
$2,825,000 General Obligation Urban Renewal Bonds, Series 2010C
Resolution directing sale.
Such additional matters as are set forth on the additional 10 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
ity Clerk, Dubuque, Iowa
The following persons were present:
Tionna Pooler, Kenneth TeKippe
* * * * * * **
1
August 3, 2010
The Finance Director of Dubuque, Iowa, met in the office of the Finance Director,
City Hall, Dubuque, Iowa, at 11:00 o'clock A.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 6:30 o'clock P. M. on the above date.
This being the time and place for the opening of bids for the sale of $2,825,000
General Obligation Urban Renewal Bonds, Series 2010C, 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:
None
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:
BMO Capital Markets GKST, Inc. — Chicago, Illinois
Northland Securities, inc. — Minneapolis, Minnesota
Bernardi Securities, inc. — Chicago, Illinois
Robert W. Baird & Co., Inc. — Milwaukee, Wisconsin
Coastal Securities, inc. — Houston, Texas
C.L. King & Associates — New York, New York
Davenport & Co., LLC — Richmond, Virginia
Loop Capital Markets, LLC — New York, New York
Kildare Capital — Philadelphia, Pennsylvania
Samco Capital Markets, Inc. — Houston, Texas
Wedbush Morgan Securities — Phoenix, Arizona
Crews & Associates — Little Rock, Arkansas
Jackson Financial Advisors — Scottsdale, Arizona
Cronin & Co., Inc. — Minneapolis, Minnesota
RBC Capital Markets — Minneapolis, Minnesota
Edward D. Jones & Co. — Saint Louis, Missouri
Country Club Bank — Prairie Village, Kansas
Piper Jaffray & Co.
Name & Address of Bidders:
Hutchinson, Shockey, Erley & Co. — Chicago, Illinois
2
4. The best bid was determined to be as follows:
Name & Address of Bidder: BMO Capital Markets GKST, Inc. — Chicago, IL
Principal Amount: $2,825,000
Purchase Price: $2,811,943.75
Net Interest Cost: $1,114,386.94
True Interest Cost: 3.3264%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
3
August 3, 2010
The City Council of Dubuque, Iowa, met in regular session, in the Historic Federal
Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date.
There were present Mayor Roy D. Buol, in the chair, and the following named Council
Members:
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch, David Resnick,
Dirk Voetberg
Absent: None
4
Council Member Ric Jones introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION URBAN
RENEWAL BONDS, SERIES 2010C" and moved its adoption. Council Member Joyce
Connors seconded the motion to adopt. The roll was called and the vote was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 296 -10
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION URBAN RENEWAL BONDS, SERIES
2010C
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:
GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2010C:
Bidder: BMO Capital Markets GKST< Inc. of Chicago, IL
the terms of said bid being:
Principal Amount: $2,825,000
Purchase Price: $2,811,943.75
True Interest Cost: 3.3264
Net Interest Cost: $1,114,386.94
5
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 and Finance Director done in furtherance of the sale of said Bonds are hereby
ratified and approved.
ATTEST:
PASSED AND APPROVED, this 2 nd day of August, 2010.
Mayor
5
STATE OF IOWA
COUNTY OF DUBUQUE
CERTIFICATE
)
) SS
)
CIG -3
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 3 day of
August, 2010.
SEAL
662868.1 /MSWord \10422.109
ity Clerk, Dubuque, Iowa
7
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: August 2, 2010
Time of Meeting: 6:30 o'clock P. 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 the date, time and place above set out. The tentative agenda for said
meeting is as follows:
X Resolution Authorizing the Redemption of the Outstanding General
Obligation Bonds, Series 2002B, dated March 1, 2002.
Such additional matters as are set forth on the additional 10 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
1
ity Clerk, Dubuque, Iowa
(This Notice to be posted)
August 3, 2010
The City Council of Dubuque, Iowa, met in regular session, in the Historic Federal
Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date.
There were present Mayor Roy D. Buol, in the chair, and the following named Council
Members:
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch, David Resnick,
Dirk Voetberg
Absent: None
Council Member Ric Jones introduced the following Resolution entitled
"RESOLUTION AUTHORIZING THE REDEMPTION OF THE OUTSTANDING
GENERAL OBLIGATION BONDS, SERIES 2002B, DATED MARCH 1, 2002, OF
THE CITY OF DUBUQUE, IOWA, AND DIRECTING NOTICE OF REDEMPTION,"
and moved its adoption. Council Member Joyce Connors seconded the motion to adopt.
The roll was called and the vote was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 297 -10
RESOLUTION AUTHORIZING THE REDEMPTION OF THE
OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2002B,
DATED MARCH 1, 2002, OF THE CITY OF DUBUQUE, IOWA, AND
DIRECTING NOTICE OF REDEMPTION
WHEREAS, the City did by Resolution No. 160 -02 dated March 18, 2002,
authorize the issuance of $1,000,000 General Obligation Bonds, Series 2002B, dated
March 1, 2002 (the "Series 2002B Bonds "); and
WHEREAS, the Series 2002B Bonds maturing after June 1, 2010 are redeemable
in any order of maturity upon giving notice in the manner provided in the resolution
authorizing the issuance of the Series 2002B Bonds; and
WHEREAS, it is deemed necessary and advisable that the Series 2002B Bonds be
so redeemed and notice of redemption be given.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
3
Section 1. That the 2011 through 2021 principal maturities of the General
Obligation Bonds, Series 2002B, dated March 1, 2002, in the aggregate amount of
$690,000, be and the same are hereby redeemed as of September 2, 2010.
Wells Fargo Bank, N.A., as Registrar and Paying Agent for the Refunded Bonds,
is hereby authorized and directed to cause notice of such redemption to be given not less
than thirty (30) days prior to the redemption date.
Section 2. The Finance Director is hereby authorized and directed to cause to be
deposited with Wells Fargo Bank, N.A., from the proceeds of the General Obligation
Bonds, Series 2010A, an amount sufficient to pay all principal and interest on the
redeemed Series 2002B Bonds to the date of redemption.
Section 3. That the form of such notice be substantially as follows:
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, Iowa
Original Issue Amount: $1,000,000
Bond Issue: General Obligation Bonds, Series 2002B
Dated Date: March 1, 2002
Redemption Date: September 2, 2010
Redemption Price: Par, plus accrued interest
Bonds Called for Redemption
Principal Interest Maturity CUSIP
Amount Rate Date Numbers
$50,000 4.200% June 1, 2011 263867 RQ8
50,000 4.300 June 1, 2012 263867 RR6
55,000 4.400 June 1, 2013 263867 RS4
55,000 4.500 June 1, 2014 263867 RT2
60,000 4.600 June 1, 2015 263867 RU9
60,000 4.700 June 1, 2016 263867 RV7
65,000 4.800 June 1, 2017 263867 RW5
70,000 4.900 June 1, 2018 263867 RX3
70,000 4.950 June 1, 2019 263867 RY1
75,000 5.000 June 1, 2020 263867 RZ8
80,000 5.000 June 1, 2021 263867 SA2
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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., 666 Walnut
Street, Des Moines, Iowa 50309, telephone (515/245- 8504). This represents a full call of
the outstanding obligations. All interest will cease to accrue on the Redemption Date.
Wells Fargo Bank, National Association
(End of Notice)
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ATTEST:
PASSED AND APPROVED this 2 nd day of August, 2010.
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STATE OF IOWA
COUNTY OF DUBUQUE
CERTIFICATE
) SS
CIG -3
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 3 day of
August, 2010.
SEAL
comelU 663599.1 /MSWord \10422.109
ity Clerk, Dubuque, Iowa
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