Series 105 2004 ORDINANCES/RESOLUTIONS
Section 105-139; Res. 54-04; Awarding the bid for sale of $17,095,000 Water and Electric System Improvement Revenue Bonds, 2004 Series A of the City of Columbia, Missouri
Council Bill No.
awarding the bid for the sale of $17,095,000 Water and Electric System Improvement Revenue
Bonds, 2004 Series A 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 $17,095,000 principal amount of its Water and Electric System Improvement
Revenue Bonds, 2004 Series A (the "Bonds"), and sealed bids for the Bonds were received by
the City, at 11:00 A.M., Central Time, on March 15, 2004, at the office of the Director of
Finance of the City (the "Director of Finance"), 701 East Broadway, Columbia, Missouri 65205.
SECTION 2. That notice of said sale was given by mailing
copies of the Notice of Bond Sale
and Preliminary Official Statement to investment banking firms and banks and other financial
institutions located throughout the United States.
SECTION 3. The Preliminary Official Statement dated March
4, 2004 attached hereto as
Exhibit "B", is hereby ratified, confirmed and adopted.
SECTION 4. That pursuant to said Notice the following
Bids were submitted to the City for
the Water and Electric System Refunding and Improvement Revenue Bonds:
SEE EXHIBIT A ATTACHED.
SECTION 5. That the Director of Finance has determined
that the bid submitted by UBS
Financial Services Inc. 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 UBS Financial Services is accepted
as the best bid submitted at
public sale on March 15, 2004, for the purchase of the $17,095,000 principal amount of Water
and Electric System Improvement Revenue Bonds, 2004 Series A of the City, and the officers of
the City and the Director of Finance are authorized to enter into a contract selling the Bonds to
UBS Financial Services Inc. on the basis of said bids and the terms specified in the Notice of
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., said bank being hereby designated as the
City's paying agent for the payment of the principal of and interest on the Bonds.
SECTION 8. The Mayor, 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.
SECTION 9. All actions taken by the staff, administration,
and advisors to the City pertaining
to the publication of the Notice of Bond Sale and the sale of said Bonds are hereby ratified,
confirmed, and adopted.
SECTION 10. That this Resolution shall be in full force
and effect from and after its adoption
by the City.
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