HomeMy WebLinkAboutRes.2904.07-06-2015BILL NO 15-125
RESOLUTION NO
A RESOLUTION OF THE CITY OF CAPE GIRARDEAU,
MISSOURI, ACCEPTING A PROPOSAL FOR
UNDERWRITING IN CONNECTION WITH THE PROPOSED
ISSUANCE BY THE CITY OF ITS SPECIAL
OBLIGATION BONDS, SERIES 2015A AND ITS
SPECIAL OBLIGATION REFUNDING BONDS, SERIES
2015B; AND ACKNOWLEDGING CERTAIN MATTERS
PURSUANT TO MSRB RULES
WHEREAS, the City of Cape Girardeau, Missouri (the `City")
has heretofore issued and has outstanding $1,120,000 principal
amount of Special Obligation Bonds, Series 2005 (the "Refunded
Bonds"); and
WHEREAS, the City Council deems it necessary and in the best
interest of the City to issue its Special Obligation Bonds,
Series 2015A and its Special Obligation Refunding Bonds, Series
2015B (collectively, the "Bonds") to finance facilities and
equipment and to refund the Refunded Bonds; and
WHEREAS, the City has requested proposals from qualified
underwriting firms in connection with the proposed issuance of
the Bonds, and in response Edward D Jones 6 Co , L P , on
behalf of itself and as representative of Commerce Bank (the
"Underwriter") has submitted its proposal for underwriting
services in connection with the Bonds (the "Proposal"), a copy
of which is incorporated by reference in this Resolution; and
WHEREAS, upon the recommendation of the City's staff and
financial advisor, the City wishes to accept the Proposal, to
select the Underwriter as underwriter for the Bonds, and to
provide acknowledgement of disclosures required by Rule G-17 of
the Municipal Securities Rulemaking Board (the "MSRB") and, if
requested by the Underwriter, acknowledgment that it has not
specified a retail order period pursuant to MSRB Rule G-11;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS
Article 1 The Proposal is hereby accepted and the
above-named Underwriter is hereby designated as underwriter for
the Bonds in accordance with and subject to the terms of the
Proposal
Article 2 The City Council, solely to facilitate the
Underwriter's compliance with the Rule in connection with the
issuance of the Bonds, hereby acknowledges receipt of the
disclosures provided in the Proposal The Mayor or the City
Manager is authorized to execute, on the City's behalf, an
acknowledgment of receipt of the disclosures provided in the
Proposal pursuant to MSRB Rule G-17, and, if required, an
acknowledgment that it has not specified a retail order period
requirement pursuant to MSRB Rule G-11
Article 3 The Refunded Bonds are hereby called for
redemption and payment on or about the date of issuance of the
Bonds The Refunded Bonds shall be redeemed at the principal
payment office of UMB Bank, N A (the "Series 2005 Paying
Agent") by the payment on the redemption date of the redemption
price thereof, together with accrued interest thereon The City
Council hereby authorizes the Series 2005 Paying Agent to cause
notice of the call for redemption and payment of the Refunded
Bonds to be given in the manner provided in Ordinance No 3484
adopted by the City Council on May 11, 2005, pursuant to which
the Refunded Bonds were issued The notice of redemption is
conditioned upon the execution, sale and delivery by the City of
its Special Obligation Refunding Bonds, Series 2015B, on or
before the redemption date and the deposit of such portion of
the proceeds thereof with the Series 2005 Paying Agent, in an
amount sufficient to pay the redemption price of and interest on
the Refunded Bonds on the redemption date
Article 4 This Resolution
effect from and after its passage�l�x
PASSED AND ADOPTED THIS 1
ATT ST
Gayl L Conrad, City Clerk
2
shall be in full force and
the City Council
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, Mayor
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2015