Background/Discussion
On Monday August 23, 2020 at 10:00 o'clock A.M. the City of Council Bluffs will receive bids for the competitive sale of:
A) Up to $1,155,000 (dollar amount subject to change) in Taxable General Obligation Bonds Series 2021A
and
B) Up to $5,970,000 (dollar amount subject to change) in General Obligation Bonds Series 2021B
The bids will be received and opened in the offices of the City's Municipal Advisor, PFM Financial Advisors, LLC and City Hall. PFM and the Director of Finance will tally and analyze the bids to determine the best offer in terms of purchase price, true interest rate and net interest cost. That information, along with all other bids will be forwarded to the City of Council Bluffs Finance Office. The Director of Finance will use that information to complete the resolution framework attached and recommend the sale of the Bonds to the lowest responsible bid. The Finance Office will then forward the necessary information to the City's Bond Counsel, who will prepare a resolution for consideration at the September 13, 2021 regular meeting of the City Council, finalizing and officially authorizing the sale of the bonds on the terms detailed in the lowest responsible bid.