HomeMy WebLinkAboutPHN- General Obligation Bonds, Series 2025A- PUBLISH 04-24-25(To be published on April 24, 2025) (between April 16, 2025 and May 2, 2025)
Notice of Bond Sale
Time and Place of Sealed Bids: Bids for the sale of Bonds of the City of Iowa City, State of Iowa, hereafter described, must be received at the office of the Finance Director, City Hall, 410 E. Washington, Iowa City, Iowa 52440 (the "Issuer") before 11:00 A.M., on the 6th day of
May, 2025. The bids will then be publicly opened and referred for action to the meeting of the
City Council in conformity with the Terms of Offering. The Bonds: The Bonds to be offered are the following:
General Obligation Bonds, Series 2025A, in the amount of
$14,535,000*, to be dated June 3, 2025 (the "Bonds"). Bids to be received before 11:00 A.M. C.D.T. *Subject to principal adjustment pursuant to official Terms of Offering.
Manner of Bidding: Open bids will not be received. Bids will be received in any of the following methods:
Sealed Bidding: Sealed bids may be submitted and will be received at the office
of the Finance Director at City Hall, 410 E. Washington, Iowa City, Iowa 52440.
Electronic Internet Bidding: Electronic internet bids will be received at the office of the Finance Director at City Hall, 410 E. Washington, Iowa City, Iowa 52440. The bids must be submitted through the SPEERAUCTION competitive bidding
system.
Electronic Facsimile Bidding: Electronic facsimile bids will be received by the City's Municipal Advisor, Speer Financial, Inc., Waterloo, Iowa (facsimile number: (319) 291-8628 or (319) 341-4008). Electronic facsimile bids will be
treated as sealed bids.
Consideration of Bids: After the time for receipt of bids has passed, the close of sealed bids will be announced. Sealed bids will then be publicly opened and announced. Finally, electronic internet bids will be accessed and announced.
Sale and Award: The sale and award of the Bonds will be held in the Council Chambers, at Emma J. Harvat Hall, 410 E. Washington St., Iowa City, Iowa at a meeting of the City Council on the above date at 6:00 P.M.
Official Statement: The Issuer has issued an Official Statement of information pertaining
to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The Official Statement may be obtained by request addressed to the City Clerk, City Hall, 410 E. Washington, Iowa City, Iowa
52440 or the Issuer's Municipal Advisor, Speer Financial, Inc., 531 Commercial Street, Waterloo, Iowa, 50703, Telephone: (319) 291-2077.
Terms of Offering: All bids shall be in conformity with and the sale shall be in accordance with the Terms of Offering as set forth in the Official Statement. Legal Opinion: The Bonds will be sold subject to the opinion of Ahlers & Cooney, P.C.,
Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together
with the printed Bonds without cost to the purchaser and all bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the Bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or
marketing of the Bonds.
Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public.
By order of the City Council of the City of Iowa City, State of Iowa.
City Clerk, City of Iowa City, State of Iowa (End of Notice) 4936-9530-1936-1\10714-151