Series 103 2002 ORDINANCES/RESOLUTIONS
Section 103-486; Res. 174-02; Awarding the Bid for the Sale of $7,940,000 Principal Amount of Sewerage System Revenue Refunding Bonds, Series 2002 to Wachovia Bank, National Association
Council Bill No.
awarding the bid for the sale of $7,940,000 principal amount of Sewerage System Revenue
Refunding Bonds, Series 2002 of the City of Columbia, Missouri.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS
Section 1. That the City of Columbia, Missouri (the
City), has offered at competitive public
sale $7,940,000 principal amount of its Sewerage System Revenue Refunding Bonds, Series
2002 (the Bonds), and sealed bids for the Bonds were received by the City, by 11:00 A.M.,
Central Daylight Time, on September 5, 2002, at the office of the Director of Finance of the City
(the Finance Director), 701 East Broadway, Columbia, Missouri 65205.
Section 2. That notice of said sale was given by
mailing copies of the Notice of Sale and
Preliminary Official Statement to investment banking firms and banks and other financial
institutions located throughout the United States. The Notice of Sale was also made available
through an electronic bidding system.
Section 3. The Preliminary Official Statement dated
August 29, 2002 and the Notice of Sale
dated August 29, 2002, attached hereto as
Exhibit A, are hereby ratified, confirmed and adopted,
and the Official Statement is hereby authorized and approved by supplementing, amending and
completing the Preliminary Official Statement, with such changes and additions thereto as are
necessary to conform to and describe the transaction. The City hereby deems the information
regarding the City contained in the Preliminary Official Statement to be final as of its
except for the omission of such information as is permitted by Rule 15c2-12(b)(1).
Section 4. That pursuant to said Notice of Sale the
following Bids were submitted to the City
for the purchase of the Bonds, copies of which are attached hereto as
Section 5. That the Finance Director of the City
has determined that the bid submitted by
Wachovia Bank, National Association was the best bid submitted for the Bonds, the best bid
being determined based on the lowest true interest cost to the City, and has recommended to the
City Council the acceptance of said bid.
Section 6. The bid of Wachovia Bank, National Association
is accepted as the best bid
submitted at public sale on September 5, 2002 for the purchase of $7,940,000 Sewerage System
Revenue Refunding Bonds, Series 2002 of the City and the officers of the City and the Finance
Director are authorized to enter into a contract selling the Bonds to Wachovia Bank, National
Association on the basis of said bid and the terms specified in the Notice of Sale.
Section 7. The principal of and interest on the Bonds
shall be payable in lawful money of the
United States of America at UMB Bank, N.A., St. Louis, Missouri, said bank being hereby
designated as the Citys paying agent for the payment of the principal of and interest on the
Section 8. The Mayor, the City Manager, the City
Clerk and the Director of Finance of the
City are hereby authorized and directed to execute said Bonds and such other documents and take
such other actions as may be necessary to effectuate said borrowing on behalf of the City,
including without limitation complying with and carrying out all of the provisions of the
Continuing Disclosure Certificate dated as of the date of closing. The City acknowledges that
the City is the only obligated person with responsibility for continuing disclosure with
to Rule 15c2-12 promulgated by the Securities and Exchange Commission.
Section 9. All actions taken by the staff, administration,
and advisors to the City pertaining to
the dissemination of the Notice of Sale and the sale of said Bonds are hereby ratified, confirmed,
Section 10. That this Resolution shall be in full
force and effect from and after its adoption by
ADOPTED this 5th day of September, 2002.