Section 110-479; Res. 216-09; Authorizing the City of Columbia, Missouri to offer at a negotiated sale its $10,500,000* Sewerage System Revenue Bonds (Build America Bonds Direct Subsidy) Series 2009



Council Bill No. R 216-09




A RESOLUTION



authorizing the City of Columbia, Missouri to offer at a negotiated sale its $10,500,000 *  Sewerage System Revenue Bonds (Build America Bonds –  Direct Subsidy) Series 2009, 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 a negotiated public sale $10,500,000* principal amount of its Sewerage System Revenue Bonds (Build America Bonds –  Direct Subsidy), Series 2009 (the “Bonds”) and responses to the RFP (as defined below) for the purchase of the Bonds shall be received by the City, in such manner, at such time and on a date established by the Finance Director, upon the terms and conditions set forth in the hereinafter referenced RFP.



    Section 2.  That the Bonds shall be dated and shall be issued in denominations set forth in the RFP, 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 RFP 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 be payable as set forth in the RFP.



    Section 3.  That the Finance Director and other officers and representatives of the City are hereby authorized, in conjunction with the Financial Advisor to the City (collectively, the “Advisors”) to prepare a request for proposals (“RFP”) and Preliminary Official Statement relating to the Bonds, the Preliminary Official Statement to be substantially in the form attached hereto as Exhibit A, to use such RFP 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 negotiated 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 negotiated sale is hereby authorized and directed to be given by making available such RFP 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.



    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, agents and 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 Resolution.



    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.