Series 110 2009 ORDINANCES/RESOLUTIONS
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
authorizing the City of Columbia, Missouri to offer at a negotiated sale its
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
representatives of the City are hereby authorized, in conjunction with the
Financial Advisor to the City (collectively, the Advisors) to prepare
request for proposals (RFP) and Preliminary Official Statement relating
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
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.