General Obligation and Urban Renewal Bonds Series 2012 A and 2012B_SaleMasterpiece on the Mississippi
January 18, 2012
Dubuque
bierd
All- America City
1
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: $4,380,000 General Obligation Urban Renewal Bonds, Series 2012A
$7,495,000 General Obligation Bonds, Series 2012B
The sale of $4,380,000 General Obligation Bonds, Series 2012A; and $7,495,000
General Obligation Bonds, Series 2012B will be held Monday, February 6, 2012 at
11:00 a.m. The results will be brought to the February 6th City Council Meeting. A letter
from Attorney William Noth detailing information on the bond sale is attached.
Michael C. Van Milligen
MCVM /jml
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Jennifer Larson, Budget Director
Kenneth 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
January 18, 2012
Ms. Jenny Larson
Budget Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001
RE: General Obligation Urban Renewal Bonds, Series 2012A
General Obligation Bonds, Series 2012B
Dear Ms. Larson:
Direct Dial:
(515)246 -0332
With this letter I am enclosing proceedings for the sale date (February 6, 2012), in
each case covering minutes of the reception of bids and form of resolution awarding the
Bonds to the best bidder.
In each case, sealed and electronic bids for the Bonds should be received by the
Finance Director and listed in the minutes. 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. No other bids should be considered. All bids should then
be referred to the Council for award of the Bonds.
Acceptance of the best bid can be made by execution of the applicable bid form.
I also am enclosing suggested proceedings to be adopted by the Council calling
the principal amount of the outstanding General Obligation Capital Loan Notes, Series
2010F, dated September 20, 2010, for redemption on March 15, 2012. The resolution
includes the appropriate form of Notice of Redemption. This resolution should be
adopted only if the Council determines to award the 2012B Bonds to the best bidder for
the same.
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
January 18, 2012
Page 2
According to the provisions of the resolution authorizing issuance of the Series
2010F Notes, notice must be given to the registered holders at least 10 days prior to the
redemption date by certified mail. The Notice should be given by the Finance Director,
as Registrar for this issue.
Extra copies of the proceedings are enclosed to be completed as the originals and
returned to us for our transcript of the action taken. In addition, please return copies of
the bids and particularly the accepted bid in each case.
Should you have any questions, please don't hesitate to contact me.
Very truly yours,
./\/
William J. Noth
WJN:dc
encl.
cc: Ken TeKippe (w /encl.)
Tionna Pooler (w /encl.)
00829677 -1 \10422 -130
NOTICE OF BOND
SALE
Time and Place of
Sealed Bids: Sealed
' bids for the sale of
Bonds of the City of
Dubuque, Iowa, will be
received at the office
of the Finance Director,
City Hall, 50 West 13th
Street, in the City of
Dubuque, . Iowa (the
"Issuer ") at 11:00
• o'clock A.M., on the 6th
day of February, 2012.
The bids will then be
publicly opened and
referred for action to
the meeting of the City ..
Council" in • c'o'nformity °
with tlieiterms of- offer-
ing. "' 3
Sale And tAnto0Pirlie
sale ankd,jawa d,,�
Bonds IIbew:' i-. ;a1
the ' •F oric Ee -ral "Gt
Buildin '9'50.+ lesig6thr •.830
Street, Ddbuque, Iowa, (tee'
at, a:me tlii
Couneij 'on "_ o Af' Otteniiig:
date .;af„, • shaJL be;in•cbnt
'The ` and th
The Borvids:" The esfial'I'e in actor
Bonds to *offered; are w,t15' the Terms, of'Qf-
the fojlowing: , • . feri .,as.i.set forth in
GENERAL OBCIOk1tON theD ial Stateme_�rar�t
URBAN., • ,.Ii �ENEW, . <, •,L ...fit! Qpirlion: Srai'd
BONDS;; 9�{ PES. 2012 Lion ' iilr be o d b-
in the; • Biroun ' ' Ott''to -iphe opsirito�rt of
$4,380;000, ,to b,e ;dated ,y hies -s'& Cooney, P:C., '
the l fdd �Jo f^'sMltporkiyiejYSsi: ,.ef,•:,.Des,
GE...,.. OBt C�` :Moines° Iowa, i .,
B 0 1 ` J i D S , , S E R Y I E S > 125, l`egali Waryd their opin-
- in the amount, " of , Orr will be furrn hed
$7,495,000, to be dated. ,. eltber with,th print-
the dat of-delivery.' � s yii'thout cost
' atgether, •thew 'ta ite, purchaser and
"Bonds") all bids will be so con -
Adjustment of Prin. ditioned. Except to the
cipal Amounts. The. extent necessary to is-
Issuer ieserves,t -the ". sietFieir, opinion ,as to
right to increase or de- the legality of the
crease the aggregate Bonds, the attorneys
will not examine or re-
view or express any
opinion with respect to
the accuracy or com-
pleteness of docu-
ments, materials or
statements • made or
furnished in connec-
tion with the sale, issu-
ance or marketing ,of
the Bonds.
Rights Reserved:
The right is reserved to
reject any or all bids,
and to waive any,irreg-
ularities as deemed to
be in the best interests
of the public.
By order of the City
Council of the City of
Dubuque, Iowa.
Kevin S. Firnstahl
City Clerk of the City of
Dubuque, Iowa
Bids: After the time for
receipt of bids has
passed, the close of
sealed bids will be an-
nounced. Sealed bids
will then be publicly
opened and an-
nounced. Finally, .elec-
tronic internet bids will
be accessed and an-
nounced.
Official Statement
The Issuer has issued
an Official Statement
of information pertain-
ing to the Bonds to be
offered, including a
statement of the Terms
of Offering and an Offi-
cial Bid Form for each
series, which is incor-
porated by reference
as a part of this notice. i
The Official Statement
may be obtained by re-
qucst addressed to the
City Clerk, 50 W. 13th
Stre, ,• Dubuque, Iowa
SZ • ctel,ep: ie:
563` -4100) or the ji-
adviso'f.,to'ithe
i +'iFopal
e O.f
a','"5
bin'esa Iowa
E., ,5154487
principal amount of
each series of the
Bonds at the time of
sale, as described in
the Terms of Offering.
,Any such change will
be in increments of
$5,000, and may be
made in any of the ma-
turities. The purchase
price will be adjusted
proportionately to re-
flect any change in is-
sue size.
Manner of Bidding:
Open bids will not be
received. Bids for each
series of the Bonds will
be received by any of
the following methods:
Sealed Bidding:
Sealed bids may be
submitted and will be
received at the office
of the Finance Director, It 1/20
-City Hall, Dubuque, to
wa.
Electronic Internet
Bidding: Electronic in-
ternet bids will be re-
ceived at the office of
the Finance Director,
City Hall, Dubuque, Io-
wa. The bids must be
submitted through the
PARITY competitive
bidding system.
Electronic Facsimile
Bidding: Electronic
facsimile bids will be
received at the office
of the Finance Director,
Dubuque, Iowa (fac-
simile number.
563/589 -0890 or
563/690- 6689). Elec-
tronic facsimile bids
will be sealed and
treated as sealed bids.
Consideration of
STATE OF IOWA {SS:
DUBUQUE COUNTY
CERTIFICATION OF PUBLICATION
I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa
corporation, publisher of the Telegraph Herald,a newspaper of general circulation
published in the City of Dubuque, County of Dubuque and State of Iowa; hereby
certify that the attached notice was published in said newspaper on the following
dates: January 20, 2012, and for which the charge is $52.16.
(9,4,
Subscribed to before me otary Public in and for Dubuque County, Iowa,
this �!p ffj day of , 20 /X., .
Notary Public in and for Dubuque County, Iowa.
i''1nY K.
TABULATION OF BIDS
City of Dubuque, Iowa
$4,380,000 General Obligation Urban Renewal Bonds, Series 2012A
AWARD:
ROBERT W. BAIRD & CO., INC.
RATINGS: Moody's Investor Services `Aal'
SALE DATE: February 6, 2012
NAME OF BIDDER
COUPON
NET INTEREST COST
RATE YEAR & TRUE INTEREST RATE
PRICE
ROBERT W. BAIRD & CO., INC.
Milwaukee, Wisconsin
C.L. KING & ASSOCIATES, INC.
New York, New York
FIDELITY CAPITAL MARKETS
Chicago, Illinois
EDWARD D. JONES & CO.
Saint Louis, Missouri
COASTAL SECURITIES, INC.
Houston, Texas
DAVENPORT & CO., LLC
Richmond, Virginia
SAMCO CAPITAL MARKETS, INC.
Houston, Texas
KILDARE CAPITAL
Philadelphia, Pennsylvania
CREWS & ASSOCIATES, INC.
Little Rock, Arkansas
DUNCAN - WILLIAMS, INC.
Richmond, Virginia
WEDBUSH SECURITIES, INC.
Phoenix, Arizona
BOSC, INC.
Richardson, Texas
WELLS NELSON & ASSOCIATES LLC
Dallas, Texas
INCAPITAL LLC
Chicago, Illinois
WILLIAM BLAIR & COMPANY, LLC
Chicago, Illinois
NW CAPITAL MARKETS, INC.
Jersey City, New Jersey
ISAAK BOND INVESTMENTS, INC.
Denver, Colorado
NORTHLAND SECURITIES, INC.
Minneapolis, Minnesota
ROSS, SINCLAIRE & ASSOCIATES, LLC
Cincinnati, Ohio
CRONIN & CO., INC.
Minneapolis, Minnesota
CORBY CAPITAL MARKETS, INC.
Boston, Massachusetts
JACKSON SECURITIES, LLC
Atlanta, Georgia
2.000%
2.125%
2.250%
2.375%
2.500%
2.750%
3.000%
2014 -2022
2023
2024
2025
2026 -2027
2028
2029 -2031
$1,274,992.74
2.5444%
$4,360,912.95
The PFM Group
PUI1!;4 Finirua! iana�,F:mSr,l br
PFM As-ie1 P riagt_:rienl LLC,
PFArI F \dvi5; ri ;
801 Grand Avenue, Suite 3300
Des Moines, Iowa 50309
(515) 243-2600
$4,380,000 General Obligation Urban Renewal Bonds, Series 2012A
City of Dubuque, Iowa
Monday, February 6, 2012
Page 2
NAME OF BIDDER
COUPON NET INTEREST COST'
RATE YEAR & TRUE INTEREST RATE PRICE
RAYMOND JAMES & ASSOCIATES, INC. 2.000% 2014 -2022 $1,316,816.43
New York, New York 2.250% 2023
MORGAN STANLEY & CO., INC. 2.375% 2024
New York, New York 3.000% 2025 -2031
US BANCORP INVESTMENTS, INC.
New York, New York
HUTCHINSON, SHOCKEY, ERLEY & CO. 1.000% 2014
Chicago, Illinois 2.000% 2015 -2021
2.250% 2022
2.500% 2023 -2024
2.750% 2025 -2026
3.000% 2027 -2031
CITIGROUP GLOBAL MARKETS INC. 2.000% 2014 -2020
New York, New York 2.250% 2021
UBS 2.500% 2022
Chicago, Illinois 2.625% 2023
J.P. MORGAN SECURITIES LLC 2.750% 2024
New York, New York 3.000% 2025 -2027
3.125% 2028
3.250% 2029 -2030
3.500% 2031
2.6126%
$4,396,989.20
$1,366,534.69 $4,341,581.70
2.7334%
$1,471,504.40 $4,341,805.25
2.9390%
TABULATION OF BIDS
City of Dubuque, Iowa
$7,495,000 General Obligation Bonds, Series 2012B
AWARD:
ROBERT W. BAIRD & CO., INC.
RATINGS: Moody's Investor Services `Aal'
SALE DATE: February 6, 2012
NAME OF BIDDER
COUPON NET INTEREST COST
RATE YEAR & TRUE INTEREST RATE PRICE
ROBERT W. BAIRD & CO., INC.
Milwaukee, Wisconsin
C.L. KING & ASSOCIATES, INC.
New York, New York
FIDELITY CAPITAL MARKETS
Chicago, Illinois
EDWARD D. JONES & CO.
Saint Louis, Missouri
COASTAL SECURITIES, INC.
Houston, Texas
DAVENPORT & CO., LLC
Richmond, Virginia
SAMCO CAPITAL MARKETS, INC.
Houston, Texas
KILDARE CAPITAL
Philadelphia, Pennsylvania
CREWS & ASSOCIATES, INC.
Little Rock, Arkansas
DUNCAN - WILLIAMS, INC.
Richmond, Virginia
WEDBUSH SECURITIES, INC.
Phoenix, Arizona
BOSC, INC.
Richardson, Texas
WELLS NELSON & ASSOCIATES LLC
Dallas, Texas
INCAPITAL LLC
Chicago, Illinois
WILLIAM BLAIR & COMPANY, LLC
Chicago, Illinois
NW CAPITAL MARKETS, INC.
Jersey City, New Jersey
ISAAK BOND INVESTMENTS, INC.
Denver, Colorado
NORTHLAND SECURITIES, INC.
Minneapolis, Minnesota
ROSS, SINCLAIRE & ASSOCIATES, LLC
Cincinnati, Ohio
CRONIN & CO., INC.
Minneapolis, Minnesota
CORBY CAPITAL MARKETS, INC.
Boston, Massachusetts
JACKSON SECURITIES, LLC
Atlanta, Georgia
2.000% 2013 -2021
2.250% 2022 -2023
2.375% 2024
2.500% 2025 -2026
3.000% 2027 -2030
3.125% 2031
$2,291,394.39
2.7031%
$7,428,195.75
The PFM Group
Public Financial Management,
PFM Asset Management LLC
REM Advisors
801 Grand Avenue, Suite 3300
Des Moines, Iowa 50309
(515) 243-2600
$7,495,000 General Obligation Bonds, Series 2012B
City of Dubuque, Iowa
Monday, February 6, 2012
Page 2
NAME OF BIDDER
COUPON NET INTEREST COST
RATE YEAR & TRUE INTEREST RATE PRICE
US BANCORP INVESTMENTS, INC. 2.000% 2013 -2021
New York, New York 2.250% 2022 -2023
MORGAN STANLEY & CO., INC. 2.500% 2024
New York, New York 3.000% 2025 -2030
RAYMOND JAMES & ASSOCIATES, INC. 3.250% 2031
New York, New York
HUTCHINSON, SHOCKEY, ERLEY & CO. 2.000% 2013 -2021
Chicago, Illinois 2.250% 2022
2.400% 2023
2.500% 2024
2.750% 2025
3.000% 2026 -2029
3.125% 2030 -2031
$2,337,103.00
2.7481%
$7,460,767.00
$2,349,631.48 $7,439,816.85
2.7683%
CITIGROUP GLOBAL MARKETS INC. 2.000% 2013 -2020 $2,452,374.39 $7,424,274.50
New York, New York 2.250% 2021 -2022
UBS 2.500% 2023 2.8911%
Chicago, Illinois 2.750% 2024
J.P. MORGAN SECURITIES LLC 3.000% 2025 -20208
New York, New York 3.125% 2029
3.250% 2030
3.375% 2031
r
ja
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: February 6 , 2012.
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:
$4,380,000 General Obligation Urban Renewal Bonds, Series 2012A
$7,495,000 General Obligation Bonds, Series 2012B
Resolutions directing sale.
Such additional matters as are set forth on the additional g page(s)
attached hereto. (number)
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.
February 6, 2012
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 electronic bids and to refer the sale of the Bonds to
the best and most favorable bidders for cash, subject to approval by the City Council at
6:30 o'clock P.M. on the above date.
The following persons were [available]:
Finance Director Ken TeKippe, Assistant Finance Director Jean Nachtman,
Budget Director Jennifer Larson
Absent:
* * * * * * * *
This being the time and place for the opening of bids for the sale of $4,380,000
General Obligation Urban Renewal Bonds, Series 2012A, 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:
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:
Robert W. Baird & Co., Inc., et. al - Milwaukee, Wisconsin
Raymond James & Associates, et al - New York, New York
Hutchinson, Shockey, Erley & Co., - Chicago, Illinois
CitiGroup Global Markets, Inc., et al - New York, New York
4. The best bid was determined to be as follows:
Name & Address of Bidder: Robert W. Baird, & Co., Inc., Milwaukee, WI
Principal Amount: $4,380.000
True Interest Cost: $1,274,992.74
True Interest Rate: 2.5444%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
This being the time and place for the opening of bids for the sale of $7,495,000
General Obligation Bonds, Series 2012B, 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:
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:
Robert W. Baird & Co., Inc., et al — Milwaukee, Wisconsin
US Bancorp Investments, Inc., et al — New York, New York
Hutchinson, Shockey, Erley & Co. — Chicago, Illinois
CitiGroup Global Markets, Inc., et al — New York, New York
4. The best bid was determined to be as follows:
Name & Address of Bidder: Robert W. Baird & Co., Inc., et al —
Milwaukee, WI
Principal Amount: $7,495,000
True Interest Cost: $2,291,394.39
True Interest Rate: 2.7031%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
February 6, 2012
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 Connor, Ric Jones, Kevin Lynch, David Resnick,
Lynn Sutton
Absent:
Council Member Braig introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION URBAN
RENEWAL BONDS, SERIES 2012A" and moved its adoption. Council Member
Connors seconded the motion to adopt. The roll was called and the vote was,
AYES: Connors, Jones, Lynch, Resnick, Sutton, Braig, Buol
NAYS:
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 32 -12
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION URBAN RENEWAL BONDS, SERIES
2012A
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 2012A:
Bidder: Robert W. Baird & Co., Inc., et al of Milwaukee, Wisconsin
the terms of said bid being:
Purchase Price: $4,360,912.95
Principal Amount: $4,380,000
True Interest Rate: 2.5444%
True Interest Cost: $1,274,992.74
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That the bid for the Series 2012A Bonds as above set out is hereby
determined to be the best and most favorable bid received and, said Series 2012A Bonds
are hereby awarded based on said bid.
Section 2. That the form of contract for the sale of said Series 2012A Bonds is
hereby approved and the Mayor and City Clerk are authorized to execute and attest the
same on behalf of the City.
Section 3. That the notice of the sale of the Series 2012A Bonds heretofore given
and all acts of the City Clerk and Finance Officer done in furtherance of the sale of said
Series 2012A Bonds are hereby ratified and approved.
PASSED AND APPROVED, this 6th
February , 2012.
day of
ATTEST:
/ v
Mayor
Council Member Braig introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF GENERAL OBLIGATION BONDS, SERIES
2012B" and moved its adoption. Council Member Connors seconded the motion to
adopt. The roll was called and the vote was,
AYES: Connors, Jones, Lynch, Resnick, Sutton, Braig, Buol
NAYS:
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 33-12
RESOLUTION DIRECTING SALE OF GENERAL
OBLIGATION BONDS, SERIES 2012B
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 2012B:
Bidder: Robert W. Baird & Co, Inc. et al of Milwaukee, Wisconsin
the terms of said bid being:
Purchase Price: $ $7,428,195.75
Principal Amount: $7,495,000
True Interest Rate: 2.7031%
True Interest Cost: $2,291,394.39
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That the bid for the Series 2012B Bonds as above set out is hereby
determined to be the best and most favorable bid received and, said Series 2012B Bonds
are hereby awarded based on said bid.
Section 2. That the form of contract for the sale of said Series 2012B Bonds is
hereby approved and the Mayor and City Clerk are authorized to execute and attest the
same on behalf of the City.
Section 3. That the notice of the sale of the Series 2012B Bonds heretofore given
and all acts of the City Clerk and Finance Officer done in furtherance of the sale of said
Series 2012B Bonds are hereby ratified and approved.
PASSED AND APPROVED, this 6 t h
february , 2012.
day of
Mayor
ATTEST:
e(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of the City of Dubuque, Iowa.
Date of Meeting: Fehrua ry 6 , 2012.
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 the
meeting is as follows:
Resolution Authorizing the Redemption of Outstanding General Obligation
Capital Loan Notes, Series 2010F, dated September 20, 2010
Such additional matters as are set forth on the additional 7 page(s) attached hereto.
(number)
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.
City C erk, Dubuqu-, Iowa
February 6 2012
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
Lynn Sutton
Absent:
* * * * * * * *
2
Council Member Braig introduced the following Resolution entitled
"RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING
GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2010F, DATED
SEPTEMBER 20, 2010, OF THE CITY OF DUBUQUE, IOWA, AND DIRECTING
NOTICE OF REDEMPTION," and moved its adoption. Council Member Connors
seconded the motion to adopt. The roll was called and the vote was,
AYES: Connors, Jones, Lynch, Resnick, Sutton, Braig, Buol
NAYS:
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 34 -12
RESOLUTION AUTHORIZING THE REDEMPTION OF OUTSTANDING
GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2010F, DATED
SEPTEMBER 20, 2010, OF THE CITY OF DUBUQUE, IOWA, AND
DIRECTING NOTICE OF REDEMPTION
WHEREAS, the City has heretofore authorized the issuance of $2,850,000
General Obligation Capital Loan Notes, Series 2010F, dated September 20, 2010 (the
"Series 2010F Notes "); and
WHEREAS, the Series 2010F Notes may be called for redemption and paid before
maturity on said date or any date thereafter, from any funds regardless of source, in
whole or from time to time in part, upon giving notice in the manner provided in the
foregoing resolution authorizing the issuance of the Series 2010F Notes; and
WHEREAS, it is deemed necessary and advisable that the Series 2010F Notes be
so redeemed and notice of redemption be given.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That the outstanding General Obligation Capital Loan Notes, Series
2010F, dated September 20, 2010, in the principal amount of $1,900,000, be and the
same are hereby redeemed as of March 15, 2012.
3
Section 2. The Finance Director, as Registrar and Paying Agent for the Series
2010F Notes, is hereby authorized and directed to cause notice of such redemption to be
given not less than ten (10) days prior to the redemption date.
Section 3. The Finance Director is hereby authorized and directed to cause to be
deposited in a separate fund, from the proceeds of the General Obligation Bonds, Series
2012B, an amount sufficient to pay all principal and interest on the redeemed Series
2010F Notes to the date of redemption.
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, Iowa
Original Issue Amount: $2,850,000
Bond Issue: General Obligation Capital Loan Notes, Series 2010F
Dated Date: September 20, 2010
Redemption Date: March 15, 2012
Redemption Price: Par, plus accrued interest
Notes Called for Redemption
Interest Principal Maturity
Rate Amount Date
1.49% $950,000 June 1, 2012
1.49% 950,000 June 1, 2013
5
The above Series 2010F Notes should be presented to the Register, Finance
Director, City of Dubuque, 50 West 13th Street, Dubuque, Iowa 52001 (telephone:
563/589- 4133). This represents a full call of the outstanding obligations. All interest on
the Series 2010F Notes being so redeemed will cease to accrue on the Redemption Date.
Finance Director, City of Dubuque, Iowa
(End of Notice)
6
PASSED AND APPROVED this 6th day of
February , 2012.
ATTEST:
1 u L,
Mayor ?—
PARITY Bid Form Page 1 of 1
Robert W. Baird & Co., Inc. - Milwaukee , WI's Bid
Dubuque
$4,380,000 General Obligation Urban
Series 2012A
For the aggregate principal amount of $4,380,000.00, we will pay you $4,360,912.
the date of delivery. The Bonds are to bear inter
Renewal Bonds,
95, plus accrued interest from the date of issue to
Maturity Date
Amount $
Coupon %
06/01/2014
205M
2.0000
06/01/2015
205M
2.0000
06/01/2016
210M
2.0000
06/01/2017
210M
2.0000
06/01/2018
215M
2.0000
06/01/2019
220M
2.0000
06/01/2020
225M
2.0000
06/01/2021
225M
2.0000
06/01/2022
230M
2.0000
06/01/2023
240M
2.1250
06/01/2024
245M
2.2500
06/01/2025
250M
2.3750
06/01/2026
260M
2.5000
06/01/2027
270M
2.5000
06/01/2028
275M
2.7500
06/01/2029
285M
3.0000
06/01/2030
300M
3.0000
06/01/2031
310M
3.0000
Total Interest Cost: $1,255,905.69
Discount: $19,087.05
Net Interest Cost: $1,274,992.74
TIC: 2.544429
Time Last Bid Received On:02/06/2012 10:53:22 CST
This proposal is made subject to all of the terms and conditions of the Official Bid Form, the Official Notice of Sale, and the Preliminary
Official Statement, all of which are made a part hereof.
Bidder: Robert W. Baird & Co., Inc., Milwaukee , WI
Contact: Drew Kanyer
Title:
Telephone:414- 765 -7331
Fax:
Issuer Name: City of Dubuque
Accepted By:
Date:
2/8/12
Company Name:
Accepted By:
Date:
https: / /www. newissuehome. i -deal. com /Parity/ asp/ main. asp ?frame= content &page= parityB id... 2/6/2012
PARITY Bid Form Page 1 of 1
Robert W. Baird & Co., Inc. - Milwaukee , WI's Bid
Dubuque
$7,495,000 General Obligation Bonds, Series 2012B
For the aggregate principal amount of $7,495,000.00, we will pay you $7,428,195.75, plus accrued interest from the date of issue to
the date of delivery. The Bonds are to bear inter
Maturity Date
Amount $
Coupon %
06/01/2013
75M
2.0000
06/01/2014
345M
2.0000
06/01/2015
350M
2.0000
06/01/2016
355M
2.0000
06/01/2017
360M
2.0000
06/01/2018
365M
2.0000
06/01/2019
370M
2.0000
06/01/2020
375M
2.0000
06/01/2021
385M
2.0000
06/01/2022
395M
2.2500
06/01/2023
400M
2.2500
06/01/2024
415M
2.3750
06/01/2025
425M
2.5000
06/01/2026
440M
2.5000
06/01/2027
455M
3.0000
06/01/2028
470M
3.0000
06/01/2029
485M
3.0000
06/01/2030
505M
3.0000
06/01/2031
525M
3.1250
Total Interest Cost: $2,224,590.14
Discount: $66,804.25
Net Interest Cost: $2,291,394.39
TIC: 2.703118
Time Last Bid Received On:02/06/2012 10:53:37 CST
This proposal is made subject to all of the terms and conditions of the Official Bid Form, the Official Notice of Sale, and the Preliminary
Official Statement, all of which are made a part hereof.
Bidder: Robert W. Baird & Co., Inc., Milwaukee , WI
Contact: Drew Kanyer
Title:
Te l e p h o n e:414 -765 -7 331
Fax:
Issuer Name: City of DDu.uque
Accepted By:
Date:
2/8/12
Company Name:
Accepted By:
Date:
https:// www .newissuehome.i- deal.com/Parity /asp /main. asp ?frame= content &page = parityBid... 2/6/2012