Series 107 2006 ORDINANCES/RESOLUTIONS
Section 107-570; Res. 195-06; Authorizing the City of Columbia, Missouri to offer at competitive public sale its $38,535,000 principal amount of Special Obligation Electric Utility Improvement Bonds (Annual Appropriation Obligation), Series 2006C, of the City of Columbia
Council Bill No.
authorizing the City of Columbia, Missouri to offer at competitive public
sale its $38,535,000
principal amount of Special Obligation Electric Utility
Improvement Bonds (Annual Appropriation Obligation), Series 2006C, of
the City of Columbia, and to take certain other preliminary actions in
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBIA,
MISSOURI, AS FOLLOWS:
SECTION 1. That the City of Columbia, Missouri (the City),
shall offer at
competitive public sale $38,535,000
Preliminary, subject to change
of its Special Obligation Electric Utility Improvement Bonds (Annual
Appropriation Obligation), Series 2006C (the Bonds) and bids for the Bonds
shall be received by the City, at the office of the Director of Finance, City of
Columbia, Missouri, 701 East Broadway, Columbia, Missouri 65205, at such time
and on a sale date established by such Finance Director, upon the terms and
conditions set forth in the hereinafter referenced Notice of Sale.
SECTION 2. That the Bonds shall be dated and shall
be issued in
denominations set forth in the Notice of Sale, and shall bear interest at a
rate to be determined upon approval of the sale of the Bonds by the City
Council. The principal maturities of the Bonds shall be established by the
Finance Director for inclusion in the Notice of Sale following consultation
with A.G. Edwards & Sons, Inc., the financial advisor to the City (the
Financial Advisor). Principal and interest on the Bonds shall
as set forth in the Notice of Sale.
SECTION 3. That the Finance Director and other officers
representatives of the City are hereby authorized and directed, in
conjunction with the Financial Advisor to the City (collectively, the
Advisors) to prepare a Notice of Sale and Preliminary Official Statement
relating to the Bonds substantially in the form attached hereto as Exhibit A,
to use such Notice of Sale and Preliminary Official Statement in connection
with the sale of the Bonds, and to take such other actions as may be
necessary or expedient to carry out the public sale of the Bonds. The
Preliminary Official Statement is hereby deemed final by the City for
purpose of Rule 15c2-12(b)(1) of the Securities and Exchange Commission,
except for the omission of the information permitted to be omitted under
SECTION 4. That notice of said sale is hereby authorized
to be given by making available such Notice of Sale and Preliminary Official
Statement by electronic distribution or by mailing to investment banking
firms and banks and other financial institutions located throughout the
United States. Information regarding the competitive sale may also be
made available through the competitive offerings calendar published prior
to the date of sale in The Bond Buyer, a newspaper frequently subscribed
to by banks and investment banking firms published in New York, New
York, or in such other newspapers as the Advisors shall deem appropriate.
The Notice of Sale may also be made available through the Thompson
Prospectus electronic bidding system.
SECTION 5. That the Financial Advisor and Advisors
to the City are
hereby authorized to apply to one or more securities rating agencies for a
rating relating to the Bonds, to apply to a bond insurance company for the
issuance of a municipal bond insurance policy guaranteeing the timely
payment of the principal of and interest on the Bonds and to enter into a
commitment letter or other contract for such bond insurance if it would
result in overall debt service savings on the Bonds.
SECTION 6. The City shall, and the officers, directors,
employees of the City are hereby authorized and directed to, take such
further action, and execute such other documents, certificates and
instruments as may be necessary or desirable to carry out and comply with
the intent of this Resolution.
SECTION 7. That this Resolution shall be in full force
and effect from
and after its adoption by the City.
ADOPTED this 5th day of September, 2006.