GO Bonds 2007A UMB Bankv'
ORIGYIVH~
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: November 5 , 2007.
Time of Meeting: 5 = 3 0 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:
$1,055,000 General Obligation Bonds, Series 2007A
Resolution directing sale.
Such additional matters as are set forth on the additional 11 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.
~ ~~
ity Clerk, Dubuque, Iowa
November 6, 2007
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 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:
Karla Braig, Roy Buol, Patricia Cline, Joyice Connors,
Ric Jones, Kevin Lynch, Ann Michalski
Absent: None
~*******
This being the time and place for the opening of bids for the sale of $1,055,000
General Obligation Bonds, Series 2007A, the meeting was opened for the receipt of bids
for the Bonds. The following actions were taken:
1. Sealed bids were filed and listed in the minutes while unopened, as follows:
Name & Address of Bidders:
2. The Finance Officer then declared the time for filing of sealed bids to be closed
and that the sealed bids be opened. The sealed bids were opened and announced.
3. Facsimile bids received were accessed and announced as follows:
Name & Address of Bidders:
UMB Bank, n.a., Kansas City, Missouri
United Banks' Bank, Bloomington, Minnesota / D.A. Davidson & Company, Inc.
Bankers' Bank, Madison, Wisconsin
RBC Capital Markets, West Des Moines, Iowa /Northland Securities,
Minneapolis, Minnesota
4. The best bid was determined to be as follows:
Name & Address of Bidder: UMB Bank, n.a., Kansas City, Missouri
Purchase Price: $1,049,092.00
Net Interest Cost: $221.,496.75
True Interest Cost: 3.670352%
All bids were then referred to the Council for action in accordance with the Notice
of Sale.
2
November 6, 2007
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 Patricia Cline, Joyce Connors, Ric Jones,
Kevin Lynch, Ann Michalski
Absent: None
*******
3
Council Member Patricia Cline introduced the following Resolution entitled
"RESOLUTION DIRECTING SALE OF $1,055,000 GENERAL OBLIGATION
BONDS, SERIES 2007A" and moved its adoption. Council Member Ric Jones seconded
the motion to adopt. The roll was called and the vote was
AYES: Karla Braig, Roy Buol, Patricia Cline, Joyce Connors, Ric Jones,
Kevin Lynch, Ann Michalski
NAYS: None
Whereupon, the Mayor declared the following Resolution duly adopted:
RESOLUTION NO. 539-07
RESOLUTION DIRECTING SALE OF $1,055,000
GENERAL OBLIGATION BONDS, SERIES 2007A
WHEREAS, pursuant to notice as required by law, bids have been received at
public sale for the Bonds described as follows and the best bid received is determined to
be the following:
$1,055,000 GENERAL OBLIGATION BONDS, SERIES 2007A:
Bidder: ump Bank, n.a. of Kansas City, Missouri
the terms of said bid being:
Purchase Price: $1,049,092.00
True Interest Cost: 3.670352%
Net Interest Cost: $221,496.75
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 form of contract for the sale of said Bonds are hereby approved
and the Mayor and Clerk are authorized to execute the same on behalf of the City.
Section 3. That the notice of the sale of the Bonds heretofore given and all acts of
the Clerk done in furtherance of the sale of said Bonds are hereby ratified and approved.
Section 4. That the preliminary Official Statement in the form presented to this
meeting be and the same hereby is approved as fo form, and prior action by the Finance
Officer to deem final the same for purposes of Rule 15c2-12 of the Securities and
Exchange Commission is hereby ratified, confirmed and approved.
PASSED AND APPROVED, this.
da of ~~~/~~~'v , 2007.
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Mayor
ATTEST:
~~
ity Clerk
CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said
law and with members of the public present in attendance; I further certify that the
individuals named therein were on the date thereof duly and lawfully possessed of their
respective city offices as indicated therein, that no Council vacancy existed except as may
be stated in said proceedings, and that no controversy or litigation is pending, prayed or
threatened involving the incorporation, organization, existence or boundaries of the City
or the right of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of said Municipality hereto affixed this 6`h day of
November, 2007.
r~
/,
ity Clerk, Dubuque, Iowa
SEAL
DCORNELL/ 557475.1 /NiSWord\10422080
6
N0. 1281 r'. 1
OFFICIAL BID FORM
TO: City Council of Sale Date: November 5, 2007
City of Dubuque, Iowa 11:00 AM Central Time
Ri;: $1,055,000 General Obligation Bonds, Series 2007A
For all or none of the above fonds, in accordance with the Terms of Offering, we will pay you
S ~, U9 ~1 2 •O~ ~_ (not less than $1,043,000) plus accrued interest to date of delivery for fully
registered Bo ds bearing interest rates and maturing in the stated years as follows:
3, 40 % due 2009
~,~,^% due 2010
~g5 % due 2011
~~% due 2012
~J i~ C,~,% due 2013
~~' ,~% due 2014
3a tpf3 % due 2015
~• lob % due 2016
~. ~i _% due 2017
In making this offer we accept all of the terms and conditions of the Tetras of Offering published in the Official
Statement dated October 29, 2007. In the event of failure to deliver these Bonds in accordance with the Terms of
Offering as printed in the Official Statement and made a part hereof, we reserve the right to withdraw our offer,
whereupon the deposit accompanying it will be immediately returned. All blank spaces of this offer are intentional and
are not to be construed as an orxlilssion.
We enclose our good faith deposit in the amount of $10,550, to be held by you pending delivery and payment.
Alternatively, we have provided a Financial Surety Bond in accordance with the Terms of Offering.
Not as a part of our offer, the above quoted prices being controlling, but only as an aid for the verification of the offer,
we have made the following computa[ions:
NET INTEREST COST: $ a~o k , 4 , • , ~ ~ /
}` /4 /
TRUE INTERIST COST: ~ ~ (.0 ~ O~ .,.~ ~
(Dated date December 1, 2007) _
Account Manager: UMB Bank , n . a . By: Kristin Koziol
(816) 860-7223
Account Members:
The foregoing offer is hereby accepted by and on behalf of the City
November, 2 7. _~
Attest- 1,_ ~~i,~(/~.~/~'~t,C~t:~,/{f~ By:
Titl . •~ ~~~~~ Title:
it of the City of Dubuque, Iowa this 5's day of
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SURE-BID Good Faith Check Submitted