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Home My WebLink About02-24-2009 Special Meeting CITY OF FAIRFAX SPECIAL MEETING FEBRUARY 24,2009 A special meeting of the Fairfax City Council was held Tuesday, February 24, 2009 at. Fairfax City Hall at 6:00 PM.. Mayor Voss presided. Council members present: Beer,. Frieden, Rabe, Wainwright. Absent: Magers. Others present: Larry Burger. Due to the absence of the Clerk, Nancy Flickinger recorded the minutes. Rabe moved to approve the agenda, seconded by Frieden.. Roll call vote: Ayes: Beer,. Frieden, Rabe, Wainwright. Nays: None, Motion carried. The Mayor announced that this was the time and place fixed by the Council for the consideration of bids for the purchase of the City's $790,000 General Obligation Corporate Purpose Notes, Series 2009. The Mayor announced that sealed bids were canvassed on behalf of the City on the 24th day of February, 2009, and the following sealed bids were received: Bankers' Bank, Madison, Wisconsin—3.8204% Northland Securities,Minneapolis, Minnesota—4.0042% UMB Bank, n..a., Kansas City, Missouri--4.5012% Apple River State Bank,Apple River, Illinois—4.5163 % Larry Burger, Speer Financial, Inc., stated that upon examination, it is of their opinion that the bid of Bankers' Bank, Madison, Wisconsin, in association with Fairfax State Savings Bank, Fairfax, Iowa was the best bid received and it is also their opinion that the bid is favorable to the City and should be accepted. Therefore, he recommended that the Notes be awarded to that bidder at a price of$785,260,plus accrued interest, if any,being at a true interest rate of 3.8204%. After due consideration and discussion, Wainwright introduced the following Resolution and moved its adoption, seconded by Rabe. Roll call vote: Ayes: Beer, Frieden, Rabe, Wainwright. Nays: None. Whereupon, the Mayor declared the following duly adopted: Resolution No. 2009-02-10 entitled, "A RESOLUTION AWARDING $790,000 GENERAL OBLIGATION CORPORATE PURPOSE NOTES, SERIES 2009". Passed and approved this 24th day of February 2009. Wainwright moved that further action with respect to the approval of the Loan Agreement and the Issuance of the Notes be deferred until the next regularly scheduled meeting on March 10, 2009, seconded by Rabe. Roll call vote: Ayes: Beer, Frieden, Rabe, Wainwright. Nays; None. Motion carried. There being no further business before Council, Mayor Voss adjourned the meeting at 6:10 PM. MAYOR: Bill Voss ATTEST: Nancy Flickinger Disclaimer: The foregoing minutes are not official until approved by Council. AGENDA SPECIAL MEETING FEBRUARY 24,2008 AT 6:00 PM FAIRFAX CITY MALL—525 VANDERBIILT STREET Tentative agenda with possible action on the following items: 1. Call to order/Roll call 2. Approval of agenda 3. Consideration of bids for purchase of$790,000 GO Corporate Purpose Notes 4. Consider Resolution awarding $790,000 General Obligation Corporate Purpose Notes, Series 2009 5. Consider motion to defer approval of the Loan Agreement and Issuance of Notes 6. Discussion a. Opportunity for citizens not on agenda 7. Clerk Comments 8. Mayor Comments 9. Adj ournment ' I I I STATE OF IOWA Counties of Linn and Johnson SS. CITU OF FAIRE AX S?E tA)rME TING FEBR[l RY 6.d!Wa2009 I, Dave Storey, do state that I am the publisher of A spec4ai sna....tat the Fa1rfaX CC#Y Cauntil was.heW Tuesdaw, Fabrtaarry 9 005 a1 Fairfax City Mall at 6.00 FM. Mav4r ,oss Presided t Saer Frleden, Rabe, THE GAZETTE, a daily newspaper of general 1M1lairina tght. Ahsettt Manors. Others presenf;'Lury Burger, ous:to tha absehca of the Clerk,NandY Flickinsor recordod the circulation In Linn and Johnson Counties, In Iowa. mingtas Rahe arrowed s.:1.8Beer F the rieaen agenda,seonaded l Y Frleden. Roti AYThe notice, a printed copy of which 15 attached, was call vote e. Rabe,yJainwrl9ht, Nays Nona. Mofldn cartrted. The Mavar announced that this vaas the lift apd place fixed by inserted and published In THE GAZETTE newspaper the 00UM1l for the consideration of bids for the fiarchese of the Ci#v's 2{90n000: moral Obllgalivn Corporate Furpgse No1ez,' in 11]2 1SSlie(s) of Marche, 2009 Sones 2009, The Mayor anh4uoced thai sealed bids were canvassed an be- half dt this 01 on 1ht 24th flay of February 2009,and the follow- ingseated bids tYoto r ecelued Bankers Bank,Madison,Nlisconsln- 8204% Norlhlarnd Securities,MInneapolls,fyMinnosota-9-042% qMi h,a;i;Kansas City Missouri 4.5312%(' APPIa Wyv eState Bank,A0plo finer,Illinois-4,5163 J Larry tSaar9er,Spear Fina nclat Ins„staled that uporagxamiraa- tion,i:t 6s mf lhelropiNon that the bid of:'Bankers'Bank,Madiaon, 1Arlsctarustar,to assoclalfon w{1h Falrfax'State Savings Bank,Fxair- fax,}a wa was the best tall racolvad and 1f Is also their opinlorr_ that t:he bid 1s favorable io the C1tv;and should:;be accepledl. Therett Re,t10 rtacommended that fhe:Nn}as be awarded to that The reasonable fee for publishing said notice 15 $3 5.23 bidder at a price:of 5785,243 plus accrUod interest i{any,taeing at a True tnteres#>ra#e of 3 8294%. ' After;duie cmhstderaflgn ab dlscusston,WatmvdW intradural the follPwirYg f2esoiu}lon sial mgved.its adgp#ion;saconded:by Rabe RoiB caU vote;Avon:Beer, Frieden, Rabe,Nlalnwrtghl, Nays::ftone„ 4WtlereuPgn,the MaYar declared the following duty. adpPtedz Resottitign Nq,2009-D2-1p ehlt#lod,"A RESOLUTiJN- PN R 05N#(O S�SFRl S 2909 Bt?assed and ON approved this 29th day et IFebriarY 2009,.: Wainwrtgln)moved that further aclige wilit respect to the ap. provai of Ilia Loan.Csreem..ent and 1hQilssuance:af the Notes be _ daferrad aantM tttie next regularly sch'gduled mee#in9.on,Marcb lA,2049n seconded by Rabe;;Roll call vote AYes:Beer,Frleden Rabe,:YtVainwr#ght NsYs: Nane M0O carried, .There baen9 no further business before Comm Mayor yos= adjourned She rneeting a161D PM MAYOR,Biilltrfit: I ATTEST Nancv.fllckinger Msclairnier.Tine foregoing ininutes are not officlal;until approved by CouncdN This instrument was acknowledged by Dave Storey before me on Mauch 2°'a, 2009 r I , Notary Public in and for the State of Iowa tk ComrnMion Number 753222 tW y commission Expires: Juno 11,2011 STATE OF IOWA Counties of Linn and Johnson ss. CITY 4F FAIRFAX PfciAl dn�extM� �iE t3vARv2a,tnn9 I, Dave Storey, do state that I am the publisher of reg e.,of rn tlhg of the FaCriax City Counc(I Was held Tuesday, FehlruarY 2A,2009 et FalrfBx Cd1Y Nall at fi,DO PM. Mayor Voss presided, Colne#1 rnemders praseni Beer, rreden, Rabe, THE GAZETTE, a daily newspaper of general Walrtrrrigbf. Absent: Magary. l]ihera present:Larry>3ursar. Due fo ttno absence of the Clerk,NaneY Flickinger racardedahie'' circulation in Linn and.Johnson Counties in Iowa. rninulas. Rabe mdved iz`Be rote lire agenda,seconded by Frieden. Reit The notice, a printed copy of which is attached,was pall srotla AWs,�eer,Frieden,Rahe,WaJnSs'rlght. Nays:Nobe, Motion curried,; The MaYor announced that this was the time and place fixed by inserted and published in THE GAZETTE newspaper, the Coun0l dor the consideration of bins for thePurchase of the C11Y`s"6'290,D00:Geheraj Obfigahon Curporale Purpose Notes;, In the issue(s) of IVlar�ch nd 2009 serles1fid9. The.97Nairor announced that sealed bids were canvassed on be- half Of The CftY on the 29Th pay of FebrjarY 2009;and the fnJtm ry-; Ing leaped beds vvero received; eahkacs"Bank,Madison,'SNlscansln-:3,82DA Narlhlandfve rltles,Minneapolis,Minnesota-4,Q0A2`I6 UMBBank,n,a:KansasClty Missouri 45012% ApPlo RiVeirSta{e Bank,Apple RIVer,tllinais A.5143% Larry Bunpger,Speer Fiw0at,lnc,stated that upon examina- llan,It i of fheir opWbn that the bid of EWkus'2,ank,Madison, Wisdonsfn,In association with Fairfax:Slate Savings Bank,Fafc- fW�1owa vis'he best bid received and It is also their optnlon that;the 610-k fewrable to the City and should be accepfed., Therefore,ha recommended thus the-Nates f e awarded to 1niq The reasonable fee for publishing said notice is $35.23 bidder at a price of 8765,2dp plus aoccued inferes3 if any belrnig ala true inlerest rate of 3.8204%. After a con5tderalion and df5cusslon Wainwright introduced the fpoo*p ng 'Resaiulion and moved Its adopiton,seconded-by Rabe Rolt call.Vote AresBeer, Frieden, Ralye,Walnwrlahla . Nays None..WNiereupon,the Mayor Declared 4he follawing fufv adoPtett, Resolution No.2009-02-10:entllled,"A RESOLUTIDN - AWARDING S7,94,000 GENERAL OBLI:OATIDN.�ORPO1.AT,E p; PURPOSE NOTES,SERIES 2009". 13assed and approved this 24th.Cray of kbruary 2009.. WalnWright moved that further actl6A with respect to the ap- prove[of the Loan Agreement and lire Issuance of the Notea be doferred Until.;ttie next ONIariy scheduled meeting on March 1D,2009,seconded by Rahe. Roll call':vole:Aves:'Beer Friedemt, Rabe:,vllainwsnriAt„Nays;iNone.Motion carried. There being no further business before Council,Mayor'Vass adjournedV ieetIng a1 6;10 PM. MA"MtO�R B1tiff.Voss ATTEST Nancy Filckinger. Disclaimer=The.faragoing mJnulos are not official until approved by.Caurmcil This instrument was acknowledged by Dave Storey before me on March 2 d, 2009 ,L 4. ry Notary Public in and for the State of Iowa tom+ ,,. i �l�Costa C0Mn*4bnWUffftr753222 y commission Expires: Jarra 11,2011