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HomeMy WebLinkAboutA003 - $8,215,000 General Obligation Refunding Bonds, Series 1993 $8,1W00 General Obligation Refunding Bonds, Series 1993 1 CITY OF AMES, IOWA Sale Date: February 9, 1993 EVENSEN DODGE INC F I NANCIAL CONSULTANTS GO BOND Rl--zI;L1N131NG SALE C FFY C-)I-' A M I-''S t-'ERtJAI-,' -N" 9, 1993 'FABEE 01.-- CON-FE'N'I'S BIDS (.-.)F BIDS F-.XtilBl'l' f3: SAVINOS RFP(--)RT EVENSEN DODGE INC TO: Larry R. Curtis, Mayor Joyce Hertz, Council Member-at-Large ' Judie Hoffman, Council Member-at-Large Sharon Wirth, Council Member-First Ward John Parks, Council Member-Second Ward ' Ann Campbell, Council Member-Third Ward Pat Brown, Council Member-Fourth Ward FROM: David M. Dirks, Senior Vice President Evensen Dodge, Inc. 215 SUBJECT: Report of Bids on$8,}W,000 General Obligation Refunding Bonds, Series 1993 ' City of Ames, Story County,Iowa At 11:00 a.m. this date, Tuesday, February 9, 1993, the sealed bids tabulated below were received, opened and reviewed. The bids reflect excellent response from the underwriting community and are indicative of the current conditions in the tax-exempt market. Bidder Address NIC % NM Harris Trust Chicago $ 3 , 405 , 330 . 92 5 . 033a % Rodman & Renshaw Chicaao $ 3 , 421 , 135 . 97 5 . 0573 % Lehman Bros . Omaha $ 3 ,453 , 147 .41 5 . 1046 % Clayton Brown Chicago $ 3 , 495 , 433 . 27 5 . 1671 % ' $ % ' $ % ' We recommend award to: Harris Trust of Chicago qo ' Thank you for the opportunity to be of service to your City. We are at your service throughout the life of this issue. ' February 9, 1993 222 South Ni nth Street,Suite 3800 100 Court Avenue,Suite 215 Minneapolis,MN 55402 Des Moines,IA 50309 612/338-3535 800/328_ " 515/282-6138 FAX 515282-0252 FAX 6121339-7264 371039/3 SENT 6Y: 2- S-S3 2:2SrM E`/ENEEN DOOOE- OES MOINES;# 2 i EVENSEN DODGE INC RESULTS OF SALE SALE DATE: February 9,1993 City of Awn,Iowa $8,140,0000 General Obligation Refunding Bonds,Series IM Rating: Aal (Mdcoays) BBI: 6.04 ' Aa(9&P) DL- "Rs Pid.drem ym $4.115 mm HARRI"S TRUST A-NO SAVLNCS BANK Chicago 1994 4.70 3.00 NORW717;INVESTMENT BANK Minneapolis 1995 4.70 2.50 BOAT MMEEN'S NATIONAL BANK St.Lows 1996 4.70 4.00 9,066,769,000 Banc One Capital Corporate MOwaukco 1997 4,73 4.L ?,4, DicIdmon&Co. Des Moines 1998 4.75 4.30 Daugherty,Dawkins,Strand 1999 4.75 4.55 a Bigelow Inc. Minneapolis 2000 4,75 4.70 138ak Bond?avestinents Denver 2001 4-30 4.85 3,405,330.9Z- :.aSalle National Djnr Chicago 200Z 4.90 4.95 Securities Corporation of Iowa Chicago 2003 5.00 5.10 Brenton Bz*NA Oea Moines 2004 5100 $.20 US Securities,Inc. Hartford 2005 5.00 5.30 2006 5,10 5.40 5.0339%* 2007 5.10 5150 ' 200E 5.10 5.60 RCDAIAN d[RZNSHAW,INC. Ch=jo 1993 2.40 19W L90 PZI� 1991 3.30 1996 3.90 8,066,74&00 1997 4.10 1999 4,20 1999 4w0 1u 20M 4AS 2001 4M 3,421,135.97 2002 4.90 2003 5.05 2004 5.125 hm 2005 5.30 2006 5.40 5.0573°ra zW I'M 2A08 ;.60 r 'After:1te sale,the par a.•tw ant was adjusted xt%Z15,000 resulting i»a prig of S8,141,094.27,as NIC of S3,450,776.43 and INIR of 3.0336719%. 322 Sauer ninth Street,Suite 38M 100 Co-.xrt Aveauo Suit*215 minneapou mN 554" Des Mciaes,IA N09 61?1339,3535 800/328.820o 511=2-6133 FAX513,2424= FAX 612MS.7264 37.010Jt SENT BY' 2- 6-63 , 2'24PN EVENSEN 000GE- DES MOINES:-1 3 r r L. HN N BROTHERS/ 1993 430 CI?ILES HEIDER DIVISION Omaha 1994 4.30 ' 1995 4.35 1996 4.35 8,066,881.30 1997 4.35 1998 4.40 1999 4.35 I 2000 4.70 2wl 4.90 3,453,147.41 2D02 4.93 2003 3.00 2004 5.20 y:$ 2005 S-M 2006 5.40 5,1046% 2007 5.50 2008 5.50 CLA=N BROWN&ASSOCIATES Chicago 1993 4,$0 ' KEMPER SECURI11"MS,INC. Chicago 1994 4.7C � CGRIF.;WI.V,KLJBIK,STEPHENS 1995 4.80 & 'HOMFSO:�i,INC Chicago 1496 4.80 8,066,764AS 1997 4.90 1998 4.80 19" 4.87K 2000 4,875 2.001 4.975 3,495,433.27 �mz 5.00 2003 1.125 2004 510 sm 2005 5 S i006 3ZS 5.1671% 2007 5,25 2008 s 25 r 1 1 r 1 1 1 � Cxl�; h. r D 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 :5SP4 EVENSEN 000QE- DES M0:!VE5;i; 2 ' CI1Y OF AME6 IOWA $8,216,000 GENERAL 013WATION REFUNDING BONDS SERIES 1243 SALE DATE: FEBRUARY 9, 1903 PRELIMINARY R F AND! TRAN8ACTJON ANALYSIS SOURCES AND USES OF FUNDS SOURCES OF FUNDS PAR AMOUNT OF 80NDS $8,215,000.00 ACCRUED WERE6i 5111109,03 TOTAL SOURCEf3 OF FUNDS $8,228.1 fl9 03 USES OF FUNDS COST CF ESCROW $8.057 a23.91 COSTS OF MUANCE S82.000.G0 ' UNDERWRITER'S DISCOUNT(S9!$1,000) $73,905-73 ACCRUED IINMpEST $11,102.03 MISC. (POUNDING) 31.270 36 TOTAL,USES OF FUNDS .109 03 ' WINGS SUMMARY TOTAL DEBT SERVICE SAVINGS 3568,900.84 TOTAL SAVINGS AS A%OF REFUNDED IN?EREST 12.".I% PRESENT VALUE OF DEBT SERVICE SAYINGS $482,704.28 PV SAVINGS AS A%OF REFUNDED INTEREST 10.279E Irapared by Eveman Dodge, Inc, 08-Fea-93 $2,905,000 0.0C1 IFM!UO $=I. SE11E1 Im ' (ALLOGTIOY TO low SiM INPWVMNT 1OND31 �waaaareaa SAVINU U PORT faasnseiX� DATE.- ...._PRINCIPAL .' COUPOO DENT S!lVtC! _ . . . PRIOR _ oo�oN INramsT TOTAL, D/! CIILUTIVE el 1/9! 35 ... ....... ...... SAVIN U ......,UVINN ,000.o0 4.7000p0 • -------------- ---••-- 12/ 1/M 67 OU.S0 74,988.50 lt,i50.00 17,334.00 1T,334.00 ' 6/ 1/U 30,ON.00 4.700000 b7032.50 12/ 1/94 67.OU.50 16L,165.00 177,100.00 12,935.00 30.269.00 61 1195 �,000.00 4.700000 66,37T.50 12/ 1/93 66,377.50 162,755.00 177,100.00 14,345.00 44,614.00 6/ 1/96 E0000.00 y,j 0 "*672.50 , ' 12/ 1196 65,672.so 161,345.00 177,100,Do 15.733.00 60,369.00 4/ /9r 1 ?a5,coo,00 4,T30000 644' Sd I2/ 1/97 606i: 414,735.00 42r,IGO.00 12,165.00 72,S34.00 58,198.75 / N 1/90 303,000,00 4.750000 U,108.75 421,397.50 433,473.00 14,077.50 86,411.50 6 1 1/9 30,953.00 12/ 1/99 ' 6/ 1/99 300,000.00 6.7300M 50.0$9.00 401,910.00 417,050.00 15,140.00 101,751.50 a3.33D.00 o/ 1/ 0 3+'OrO�.CO 4.75000(I 12/ 1/ 0 43,830.00 407,660.CC 423,356.00 iS,6C0.00 11T,44t.501/ 1 340,000.00 4.'0o000 36.230.00 12! 36,230.00 412,460.90 427,630.00 1/ 1 28,070.a0 ,000-OC 4 15,1Q0.00 132,631.50 6! '! z 366 .400000 23 070.DO 416.140.D0 12/ 1/ 2 19,250.00 529,900.00 1E,760.00 146,391.50 6! 1/ 3 3rS,0N-M 5,000000 19,MO.00 413,500.00 4",225.00 16,725.00 145,t16.50 0.M.00 .--• 3......... 5.000000 .._..-9.875.00 414,790.00 428,400.00 13,63o.00 176,%6.30 ............. . ............ ACCAL'ED 2. i'000.00 1,961,006.00 3,866,006.00 4,039,200.00 ----176, .30 2,805,000.00 3,772.50 3,M.50 176,966.50 � waw 1,C57,235-50 3,A62,2=.50 4,0'9,I00.00 176,966.5D .�. Mua.o�� •eC�aNehio fi'LtY�RL7�tae r����i4an Dated 2115/93 With beclvery of 2/tSM Aver Abar� 294 8746t1 lvera • C Averaw L1fe 7-739683 Y 1 c x 4.990603 x Lamp W.1000000 N 0 T ! ; Sa"s On 6/ IM Include' Acaruad interact at 3,iTE.70 Nat Praaerrt vatus savtrw at: 4.95M Equals 139,144.94 or 4.9606% of Per of the Currant Iasua er 5.4567% of Aar of the Prior taaua Prepared by Eveman Do*, Inc. RlI1NlATG1 02-09-1443 ® 1a:d9cJ2 FILENAME: ANES KEY; REF-SE6ER Vr1 r V 1.V I VV( r V,r .V V VV VL bV ♦i �r ' CITY OR AMES, IOWA $3.410,000 G.O. CITY HALL REFUIDIk4 mum, UAIES 1945 ft'WIO: t1AVIMM TAAQITW FOR FT IW5 and 1996 ' SAVINGS REPORT . . . . . • • • PROPOSED VEIT MvICE . . . . • • • - DATE PRINCIPAL COtiPON INTEREST PRIOR CU XATIY1 ' ---------- -- ---------- ----------- -- --------- -------------- TOTAL ...........�/! ......iAVlkQt 4/ 1/9] 100,Op0,ra UVIAN 4,700OOD 77,767.19 177,767.19 174,737.50 4,306.d4 4,306.8E 12/ 1/03 129,107.50 it 1/% 9U.000.00 4.7mcm 129,707.50 S19,415.00 349,470. 60.00 4,366.84 12/ 1194 127.%2,50 00 ' 12/ 1� 121,365.00 265.00D.00 4.7D0000 12 ,39,g0 520,185,00 611,477.00 179.290.00 183,656.94 6/ 1/96 255,OM.00 4. 700000 121,3m.00 417,73C.00 676.725,00 17a,995.on 362,451.84 15,372.30 6/ 1/97 420,000.00 4,750000 115,372.50 650,745.00 653,625.00 2,880.m 365,5><1.84 '2/ 1/97 105,397.50 6/ 1/98 615,000.aa 4.750000 1 1/98 103,397.50 623, ".00 630,175.00 4,380.00 359,911.84 6 9795,541.25 12/ 1199 6/ 1/99 415,=.Do 4.750000 1541.25 606,082.5a 606,200.00 117.50 370,021.34 l�,6d5.00' •/ 1/ 0 410,000.00 i1,T90000 12/ i 0 a5.685.OD 581,37D.00 581,700.00 00.00 =,379.34 / 75,947.50 12J 11 1 �0' E•800000 75,917.SC 531,895.00 i56,850.00 4,M.00 375,71E.34 6/ 1/ 2 397,o00.00 4.90DDa0 t 66,347.50 527,695.00 531,650.00 3,955.00 379,269.3E 12/ 1/ 2 16,670.aa 12/ 1/ 3 390.Wa.00 5.0mma 56,470,o0 503,340.00 506,t50.00 3,110.00 382,579.34 61 1/ 4 3E3.000.00 S. amm ", 920.00 t2/ 1/ 4 020.00 479,840.00 4W'"0.00 2.060.00 394,439.3E ' 3r,t95.00 6/ 1/ 5 380.000.00 5.000000 37,;'9y,00 00 454,590.00 12/ 1/ 5 27,795. 455,000.00 410.00 38E,EE9.3E 5/ 1/ 6 370,Mo.00 5.100000 27,775.00 425,:90.00 12/ 1/ 6 18,3 423.750.00 3,16O.00 388,009.3< 6o.C0 1J 7 us,DOO.04 5.100p00 is,3W DO 401,720.00 402,500.00 1/ 7 -9,052.30 - 780,00 388,739.34 iI 1/ B 355,00a.00 5.!OOp00 91032.50 373,105.00 376,250.00 3,115.00 391,,734.34 ACCR'JB 5,410,000.00 2.315,a64.69 ••T.725,M4.69 9,110,462.50 391,9D4.54 36' 7,3 .53 7,336 .69 5,410,000.00 2,3M.328.16 7,718,528.14 8,110,"j.50 ..■ca■■.a..■ per,■■■:rs■e eesaa.....:-■. Daisa 2/15J93 with t Del;w a}Bond Years rY 2/2S/93 46 Awrsis Coupon .787. 0 AVOPM Life 4.94970E N t C % 8-6A8i19 5.amrd9 % using 99.1000000 : savinga on 61 1/93 InCELde Accrued Interest of 7,334.53 Net Fresent yslus Wfm a et: 4.95WA Equeia 343,559.33 or 6.3504% rf ref of ttte current tasuo or 7,0114% of Per Df the Prior issue areoered by Evenea, Qodge, Inc. kUNDATIs 02-09-IM & 14:4a:3s FtLl1lAOIH: AIiES rFY, REF-CM 1 ScNI fir: �—�sI 'OZr4 0 cic, QC:l u c— Utz mkdl '" M,215,000 0.0CI"FU18)t" on$, i 113 im SALE OATsi FEBRWRY 9, 1993 XMMMM ceaaas oAr6 • PillNcrwu P80POSE0 DEBT $"VICE • • . . . . . . PRIOR CMJLATIW .... IMTtaltT TORAL Dig SAVIN U 8AVIR62 .... ..... .............. .............. .............. 6/ 1/03 135,000.00 4.700000 .............. ......_ 'Z/ 1/93 11T,773,69 232,755.69 263,2A7.3003 21,640.0 21,640.84 6/ 1/94 120,M.00 4.7=00 196,790.00 513,380.00 326,575.00 12,995.00 34,6".34 ' 12/ �l94 193,970.00 ;/95 295,000.00 4.700O0o 93,470.00 682.940 �s/ .00 i76,575,00 193,635.00 228,270.84 2/ /95 187,037.50 b/ 1/96 285,000.00 4.7 OCI 137,337.50 659,073.00 SS3,423.00 194,750.00 aL•,OtO.bi 12/ 1196 180,340.00 ' 6/ 1197 TOS,000.00 A.7300G0 780 19,043.00 ,3id-00 t,063,ip0.G0 1,090,725.00 4J8,063.84 12J 1/97 163,5l6.23 6/ 1/98 720.DOC.00 4.T50000 iv 1/98 1d3,396.25 1,047,1;2.50 1,00,650.00 18,457.30 456,S73.34 146,496.25 6/ 1/99 715,000.00 y.750000 146,496.00 25 1,007,992.50 1,023,250.00 121 1/99 129,313. 15.257.50 i71,7>lO.BG ' 61 11 0 730,000.00 4.750000 199,515.00 12/ 1/ 0 989,030.00 1,003,030.00 16,U0.00 487,800.84 112,177.50 6/ 1/ 1 740,000.00 4.9000*0 112,177.5o 96A,333.00 984,500.00 20,145.00 S07,G45.84 1� 11 1 %,417.30 1/ 2 765,000.00 4.900000 94417,30 043.835.Go 961,550.00 17,710.00 S25,660.8i 1Z/ I 2 75:020.00 ,61 1/ 3 70,000.00 MUM 73,920.DO 916.840.00 06,675.00 19,835.00 543,495.84 sN 1/ 4 790,000.00 l.00p000 SL,795.00 36,7" 00 893„R90.00 909,500.00 15,910.00 561,405.81 37,299:00 b/ 1/ F 3a0,000.00 S.000000 3T,293,00 454,590.0o 455,000.00 12/ 1/ 5 27,795.00 410.00 561,815.84 it 11 6 370,000.00 5.700000 Z7.7%.00 123 590.00 429,750.00 3,160.00 364,975.a4 12/ 1/ 6 18,U0.00 1v1/ r ' 6/ 1/ 7 365,MO.00 S.I00000 18,360'" 401,720.00 4,02,500.00 780.00 30 735.84 355,Mo.00 3.100000 9,052.30 373,105.00 376,250.00 3,145.00 568.900.34 ACCf:Z 3,376,570.69 11,391,070.6q 1 11,149,6a,30 560,900.34 ' 8r2f3,CQ0.00 11,109.C3 11,109.03 Y•..��-�i�� ,366,761.66 11,9d0,h11.66 12,144,662.30 568,900.1t4 �idaeflaSir ■���@Sais��a wss+�.-asa■ osaa�....as sted Bad Years with Oeilvery of 2/25/93 ,were e C 68'553'861 8 ou0on 4.925119 Awrsya L!fa 8.3""t it T C S 13.d33672 z Using 90.1,003563 ' NOTE c Savfnge on 6/ 1/93 InCludO Aetrund Interut 9f 11,109.03 Not Present Vacua ;evinp ace 4.950M Equals 482,70A.18 or 5,$7395 Of Per of the Current Issue ' or 6.4793fi of Per of the Prior Mull ►rawred by Evan 00dW, Ine. UWATE! 02-W-7%3 0 1Aea9:44 FILILWA AMED kv.- R!r t t 1 1