Series 110 2009 ORDINANCES/RESOLUTIONS
Section 110-478; Res. 215-09; Authorizing the City of Columbia, Missouri to offer at competitive public sale its $16,560,000* Water and Electric System Revenue Bonds (Bank Qualified) Series 2009 of the City of Columbia
Council Bill No. R 215-09
authorizing the City of Columbia, Missouri to offer at competitive public
sale its $16,560,000
Water and Electric System Revenue Bonds (Bank
Qualified) Series 2009 of the City of Columbia, and to take certain other
preliminary actions in connection therewith.
BE IT RESOLVED BY THE CITY 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 $16,560,000* principal amount of its Water and
Electric System Revenue Bonds, Series 2009 (the Bonds) and bids for
Bonds shall be received by the City, in such manner, 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 Stifel, Nicolaus & Company, Incorporated and Columbia Capital
Management, LLC, the financial advisors to the City (collectively, 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
representatives of the City are hereby authorized, in conjunction with the
Financial Advisor to the City (collectively, the Advisors) to prepare
Notice of Sale and Preliminary Official Statement relating to the Bonds
substantially in the form attached hereto as Exhibit A, to use such Notice
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 the 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 such rule.
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, on the
Bloomberg Professional financial information system, or through other
publications or electronic means as the Advisors shall deem appropriate.
The Notice of Sale may also be made available through the
www.ColumbiaCapitalAuction.com 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.
Section 6. The City shall, and the officers, directors,
employees of the City are hereby authorized 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
Section 7. That this Resolution shall be in full
force and effect from and
after its adoption by the City.
ADOPTED this 8th day of September, 2009.