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Home My WebLink About~Master - Sale of $11,165,000 G.O. Bonds, Series 2009B CUN, Clerk's Office, 515 Clark Avenue,P.0.Box 811 Ca Qua. le 9 programs Ames,IA 50010 Eueptiowl Service Phone: 515-239-5105 Fax: 515-239-5142 September 23, 2009 Dorsey& Whitney LLP 801 Grand, Suite 3900 Des Moines, Iowa 50309 Attention Robert E. Josten RE: Ames, Iowa $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B Your File No. 4193 70-3 8 Dear Bob: Enclosed please find the proceedings from our September 22, 2009, meeting wherein the Council adopted Resolution No. 09-467 awarding the sale of the above-referenced Bonds. Thank you for your assistance. Sincerely, Diane R. Voss City Clerk /dry Enclosure V Ames 419370-38/2nd%Sale&Award MINUTES TO SELL BONDS Please Return To: 419370-38 DORSEY & WHITNEY ATTORNEYS AT LAW Ames, Iowa 801 Grand, Suite 3900 Des Moines, Iowa 50309 September 22, 2009 The City Council of the City of Ames, Iowa, met on September 22, 2009, at seven o'clock p .m., at the Council Chambers -, in the City. The meeting was called to order by the Mayor, and the roll was called showing the following Council Members present and absent: Present: Doll, Goodman, Larson, Mahayni, Popken, Rice Absent: None This being the time and place fixed by the Council for the consideration of bids for the purchase of the City's $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B, the Mayor announced that bids had been received and canvassed on behalf of the City at the time and place fixed therefor. Whereupon, such bids were placed on file, and the substance of such bids was noted in the minutes, as follows: Name and Address of Bidder Final Bid (interest cost) (ATTACH BID TABULATION) After due consideration and discussion, Council Member Mahayni introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member C,c�Qdrnan The Mayor put the question upon the adoption of the resolution, and the roll being called, the following Council Members voted: Ayes: Doll, Goodman, Larson, Mahayni, Popken, Rice Nays: None Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames 4 1 93 70-3 8/2nd'/z Sale&Award RESOLUTION NO. 09-467 Awarding $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B WHEREAS, pursuant to the provisions of Chapters 76 and 384 of the Code of Iowa, the City of Ames (the "City'), in the County of Story, State of Iowa has heretofore proposed to issue $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B (the "Bonds") for the purposes of paying the cost, to that extent, of improvements to streets, storm sewers, sanitary sewers, municipal waterworks system and municipal electric system, and has published notice of the proposed action and has held a hearing thereon; and WHEREAS, pursuant to advertisement of sale, bids for the purchase of the Bonds were received and canvassed on behalf of the City and the substance of such bids noted in the minutes; and WHEREAS, upon final consideration of all bids, the bid of Robert W.,/Baird & Co. , Inc. (the "Purchaser"), is the best, such bid proposing the lowest interest cost to the City; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as follows: Section 1. The bid of the Purchaser referred to in the preamble is hereby accepted, and the Bonds are hereby awarded to the Purchaser at the price specified in such bid, together with accrued interest. Section 2. The form of agreement of sale (the "Sale Agreement") of the Bonds to the Purchaser is hereby approved, and the Mayor and City Clerk are hereby authorized to execute the Sale Agreement for and on behalf of the City. Section 3. All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved September 22, 2009. ,E Mayor Attest: City Clerk -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames 4 1 93 70-3 8/2nd'/2 Sale&Award Upon motion and vote, the meeting was adjourned. Mayor Attest: City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames 419370-38/2nd'h Sale&Award STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa, do hereby certify that as such City Clerk I have in my possession or have access to the complete corporate records of the City and of its Council and officers and that I have carefully compared the transcript hereto attached with those corporate records and that the transcript hereto attached is a true, correct and complete copy of all the corporate records in relation to the sale of $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B, of the City and that the transcript hereto attached contains a true, correct and complete statement of all the measures adopted and proceedings, acts and things had, done and performed up to the present time with respect thereto. WITNESS MY HAND this X--� day of S 8/1160r , 2009. City Clerk (Attach here a copy of the bid of the successful bidder.) -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA TABULATION OF BIDS City of Ames, Iowa $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B AWARD: ROBERT W. BAIRD & CO., INC. STIFEL NICOLAUS & CO.,INC. CHARLES SCHWAB & CO. COASTAL SECURITIES DAVENPORT & COMPANY,LLC KILDARE CAPITAL LOOP CAPITAL MARKETS, LLC DUNCAN-WILLMMS,INC. C.L. KING&ASSOCIATES UMB BANK, n.a. RATING: Moody's Investors Service `Aaa' SALE DATE: Tuesday, September 22,2009 COUPON NET INTEREST COST NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE ROBERT W. BAIRD & CO.,INC. 2.00% 2010-2014 $1,940,422.96 $11,347,792.60 Milwaukee,Wisconsin 2.50% 2015-2017 CHARLES SCHWAB& CO. 3.00% 2018-2019 2.5905% Jersey City,New Jersey 3.50% 2020-2021 DAVENPORT& COMPANY,LLC Richmond,Virginia LOOP CAPITAL MARKETS,LLC New York,New York C.L.KING&ASSOCIATES New York,New York STIFEL NICOLAUS &CO.,INC. Minneapolis,Minnesota COASTAL SECURITIES Houston,Texas KILDARE CAPITAL Philadelphia, Pennsylvania DUNCAN-WILLIAMS,INC. Memphis,Tennessee UMB BANK, n.a. Kansas City,Missouri BMO CAPITAL MARKETS INC. 2.00% 2010-2013 $1,921,945.17 $11,173,053.30 Chicago, Illinois 2.125% 2014 2.375% 2015 2.5998% 2.50% 2016-2018 2.75% 2019 3.00% 2020-2021 $11,165,000 General Obligation Corporate Purpose Bonds, Series 2009B City of Ames,Iowa Tuesday, September 22,2009 Page 2 COUPON NET INTEREST COST NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE FIRST TRUST PORTFOLIOS,L.P. 3.00% 2010-2021 $1,956,981.78 $11,414,966.55 Lisle,Illinois SUNTRUST CAPITAL MARKETS 2.6196% Atlanta,Georgia STEPHENS,INC. Little Rock,Arkansas HUTCHINSON,SHOCKEY,ERLEY&CO. 2.00% 2010-2015 $1,987,139.26 $11,363,184.85 Chicago,Illinois 3.00% 2016-2019 3.10% 2020 2.6487% 4.00% 2021 PIPER JAFFRAY& CO. 2.00% 2010-2013 $2,043,685.41 $11,550,707.51 Kansas City,Missouri 3.00% 2014-2017 3.25% 2018-2019 2.6938% 4.00% 2020-2021