HomeMy WebLinkAbout1069 - ADOPTING the proposed Colorado Storm Water and Flood Management revenue refunding bonds, series 2010 in the principal amountof not to exceed $3,500.00
RESOLUTION NO. 1069 (2010)
A RESOLUTION CONCERNING THE PROPOSED CITY OF BOULDER,
COLORADO STORM WATER AND FLOOD MANAGEMENT REVENUE.
REFUNDING BONDS, SERIES 2010, IN THh PRINCIPAL AMOUNT OF
NOT TO EXCEED $3,500,000 AUTHORIZING THE, NOTICE OF BOND
SALE WITH RESPECT TO THE SERIES 2010 BONDS; PRFSC'RIBING
CERTAIN DETAILS CONCERNING THE PROPOSED SALE OF THE
SERIES 2010 BONDS; APPROVING THE FORM OF A PRELIMINARY
OFFICIAL STATEMENT; AND PROVIDING THE. EFFECTIVE DATE OF
THIS RESOLUTION.
WI-IERhAS, the City of Boulder, in the County of Boulder and State of Colorado (the
"City"), is a municipal corporation duly organized and existing as a home rule city pursuant to
Article XX of the Constitution of the State of Colorado (the "Constitution") and the home rule
charter of the City (the "Charter"); and
WHEREAS, the Council deems it advisable and necessary to issue bonds of the City in
an aggregate principal amount not to exceed $3,500,000, designated City of Boulder. Colorado
Storm Water and Flood Management Revenue Refunding Bonds, Series 2010 (the "Series 2010
Bonds"), to provide funds that, together with amounts transferred from the debt service reserve
fund and the debt service fund for the Refunded Bonds (as defined below), will be used to
(a) current refund the outstanding City of Boulder, Colorado, Storm Water and Flood
Management Revenue Refunding and Improvement Bonds, Series 1998 (the "Refunded
Bonds"); (b) fund the 2010 Reserve Fund; and (c) pay all necessary, incidental and appurtenant
expenses in connection therewith, including the costs of issuance of the Series 2010 Bonds.
NOW, "THEREFORE, BE IT RESOLVED BY THE. CITY COUNCIL OF THE Cff V
OF BOULDER THAT:
Section 1. The Scrics 2010 Bonds shall be, and the same hereby are ordeied to be,
publicly sold: and the Council shall cause sealed bids to be received and to be opened publicly
for the purchase of the Series 2010 Bonds on May 4, 2010 or on such other date as shall b:;
determined by the City Manager of the City (the "City Manager"). Upon snaking such a public
sale date determination, the City Manager shall notify the Director of Finance and Record of the.
City (the "Director of Finance and Record") as to the date, hour and place that sealed bids snail
be received and opened. The City shall indicate in the notice hereinafter described the (laic, ;he
hour and the place that sealed bids shall be received and opened,
Section 2. The Mayor of the City (the "Mayor") and the Director of Finance and Record
are hereby authorized and directed to provide for the publication of the Notice of Bond Said in
The Daily Camera at such times as they deem adequate to give reasonable notice of the proposed
sale, but no less than once after the date hereof and at least five days prior to the sale date
hereinabove designated. The Notice of Bond Sale shall be in substantially the following form,
with such changes therein, including but not limited to changes in dates, principal amounts and
maturities and completions thereto, as the Director of Finance and Record shall direct and shall
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deem to be in the best interest and to the best advantage of the City, the execution of such notice
by the Mayor and the Director of Finance and Record to indicate conclusively the approval of
any and all such changes:
(Form of Notice of Bond Sale)
NOTICE OF BOND SALE
S
CITY OF BOULDER, COLORADO
(ACTING THROUGH ITS STORM WATER AND
FLOOD MANAGEMENT UTILITY ENTERPRISE)
STORM WATER AND FLOOD MANAGEMENT REVENUE REFUNDING BONDS
SERIES 2010
PUBLIC NOTICE IS HEREBY GIVEN that electronic bids will be received for the
purchase of the City of Boulder, Colorado Storm Water and Flood Management Revenue
Refunding Bonds, Series 2010 (the "Series 2010 Bonds"), more particularly described below. As
more fully described in the Preliminary Official Statement, dated April 21, 2010 (the
"Preliminary Official Statement"), the City of Boulder, Colorado (the "City"), is causing the
Series 2010 Bonds to be offered and issued pursuant to the Bond Ordinance of the City to be
adopted on May 4, 2010 (the "Ordinance"). Bids for the purchase of the Series 2010 Refunding
mast be submitted through the BIDCOMP/PARITY electronic bidding system ("PARI"TY").
The date and time for submitting bids will be as follows:
Bid Date: Tuesday, May 4, 2010
Bid Time: Between 11:30 a.m. and 12:00 noon Eastern Time (Between 9:30 a.m. and
10:00 a.m. Mountain Time)
Submit Bid to: PARITY electronic bidding system as set forth in "TERMS OF SALE-
Submission of Bids"
Delivery Date: June S, 2010
Information relating to this auction may be obtained from the City's Financial Advisor,
Piper Jaffray & Co. (the "Financial Advisor), at 303-820-5848 or 303-820-5851 (P. Jonathan
Heroux or Bryan Stelmack) or from PARITY at 212-849-5021.
To bid, each bidder must have both (1) a subscription to PARITY and (2) requested and
received admission to the bidding of the Series 2010 Bonds, as described under "TERMS OF
SALE-Submission of Bids" below. The use of PARITY shall be at the bidder's risk and
expense, and neither the City, the Financial Advisor, Kutak Rock LLP (`Bond Counsel") nor
x Preliminary; subject to adjustment as set forth herein.
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U.S. Bank National Association (the "Paying Agent") shall have any liability with respect
thereto.
Neither the City, the Paying Agent, the Financial Advisor, nor Bond Counsel shall
be responsible for, and each bidder expressly assumes the risk of, any incomplete,
inaccurate, or untimely bid submitted by Internet transmission by such bidder, including,
without limitation, by reason of garbled transmissions, mechanical failure, engaged
telephone or telecommunications lines, or any other cause arising from delivery by Internet
transmission. Additionally, the PARITY time stamp will govern the receipt of all
electronic bids. The official bid clock does not automatically refresh. Bidders must refresh
the auction page periodically to monitor the progression of the bid clock and to ensure that
their bid will be submitted prior to the termination of the auction. All bids will be deemed
to incorporate the provisions of this Notice of Bond Sale.
This Notice of Bond Sale, and the information set forth herein, are not to be treated
as a complete disclosure of all relevant information with respect to the Series 2010 Bonds.
The information set forth herein is subject, in all respects, to a more complete description
of the Series 2010 Bonds and the security therefor set forth in the Preliminary Official
Statement.
SERIES 2010 BOND DETAILS
't'erms. The "City of Boulder, Colorado Stone Water and Flood Management Revenue
Refunding Bonds, Series 2010" will be issued in the aggregate principal amount set forth in the
caption of this Notice of Bond Sale, and will be dated the date of delivery. The proceeds of the
Series 2010 Bonds, together with amounts transferred from the debt service reserve fund and the
debt service fund for the Refunded Bonds (defined below) are being used to (a) current refund
the outstanding; City of Boulder, Colorado, Storm Water and Flood Management Revenue
Refunding and Improvement Bonds, Series 1998 (the "Refunded Bonds"); (b) fund the 2010
Reserve Fund; and (e) pay all necessary, incidental and appurtenant expenses in connection
therewith, including the costs of issuance of the Series 2010 Bonds.
Interest on the Series 2010 Bonds will be payable on each June 1 and December 1
commencing on December 1, 2010. The Series 2010 Bonds will mature on December 1 in each
of the designated amounts and years as follows:
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Maturity Schedule
Maturity Date
(December 1) Principal Amount
2010 $
2011
2012
2013
2014
2015
2016
2017
2018
Preliminary; subject to adjustment as set forth in "TERMS OF
SALE-Adjustment of Principal Amount" herein.
The Series 2010 Bonds will be issued in registered form, in denominations of $5,000 or
integral multiples thereof The Series 2010 Bonds will be issued in book-entry form utilizing the
services of The Depository Trust Company, New York, New York ("DTC"), as securities
depository.
Adjustment of Aggregate Principal Amount and of Maturities After Determination of
Best Bid. The aggregate principal amount and the principal amount of each maturity of the
Series 2010 Bonds described above are subject to adjustment by the City, after the determination
of the best bid as described under "TERMS OF SALE-Adjustment of Principal Amount,"
below. Changes to be made will be communicated to the successful bidder by the time of award
of the Series 2010 Bonds to the successful bidder, and will not reduce or increase the aggregate
principal amount of the Series 2010 Bonds by more than 20% in total principal amount. The
successful bidder may not withdraw its bid as a result of any changes made within these limits.
By submitting its bid, each bidder agrees to purchase the Series 2010 Bonds in such
adjusted principal amounts and to modify the purchase price for the Series 2010 Bonds to reflect
such adjusted principal amounts.
Interest Rates and Limitations. Interest from the date of delivery will be payable on
December 1, 2010 and semiannually thereafter on June 1 and December I in each year, as
calculated based on a 360-day year of twelve 30-day months.
Only one interest rate shall be specified for any one maturity of the Series 2010 Bonds.
Each interest rate specified must be stated in a multiple of 1/8 or 1/20 of 1 percent per
annum.
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The maximum differential between the lowest and highest interest rates permitted for the
issue is two percent (2.0%) (i, e., the maximum rate of interest accruing on any Series 2010 Bond
prior to its maturity may not exceed the lowest rate of interest accruing on any other Series 2010
Bond prior to its maturity by more than two percent (2.0%)). A zero rate is not permitted. No
supplemental or "B" interest shall be allowed.
The interest rates on the Series 2010 Bonds shall be in level or ascending order from
lowest to highest.
Term Bonds; Mandatory Sinking Fund Redemption, A bidder may request that any
Bonds maturing on and after December 1, 2016 be aggregated to form one tern bond. Such tern
bond will be subject to mandatory sinking fund redemption in the same amounts and on the same
dates as the Series 2010 Bonds would have matured if they were not included in such term bond.
Series 2010 Bonds redeemed pursuant to mandatory sinking fund redemption will be redeemed
at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the
redemption date, in the manner as otherwise provided in the Ordinance. Any election to
designate Series 2010 Bonds as being included in such tern bonds must be made at the time the
prospective bidder submits a bid for the Series 2010 Bonds via PARITY. See "PERMS OF
SALE-Submission of Bids."
Security. The Series 2010 Bonds will be payable from, and will constitute a first and
prior (but not exclusive) lien on the Net Income (hereinafter defined) and moneys on deposit in
the 2010 Bond Fund and the 2010 Reserve Fund established and continued by the Ordinance.
Net Income shall mean the revenues derived from the City's collection of its storm water and
flood management fee charged pursuant to Section 4-20-45, Boulder Revised Code, as amended
(the "Fee") plus all interest earnings on moneys in funds created the Ordinance, less only
reasonable and necessary current expenses of operation and maintenance relating to the City's
storm water and flood management system, as more fully described in the Preliminary Official
Statement prepared by the City with respect to the Series 2010 Bonds. In addition, moneys from
the Refunded Bonds debt service reserve fund in the amount of $ will be transferred
to and maintained in the 2010 Reserve Fund to be used to assure the timely payment of the
principal and interest on the Series 2010 Bonds.
Reference is made to the Preliminary Official Statement for a more complete description
of the security for the Series 2010 Bonds.
Additional Bonds; Outstanding Bonds The Ordinance will permit the issuance of
additional bonds of the City, payable from a lien on the Net Income on a parity with, or
subordinate to, the lien thereof on the Series 2010 Bonds. Other than the Refunded Bonds, there
are presently no other bonds outstanding which are secured by a lien on the Net Pledged
Revenues.
Ratings. The Series 2010 Bonds have been rated by Moody's and " " by
S&P. Sec "RATINGS" in the Preliminary Official Statement.
4823-2626-7141.3 5
No Optional Redemption. The Series 2010 Bonds are not subject to optional redemption
prior to maturity.
Authorization. The Series 2010 Bonds are authorized to be issued by the Constitution of
the State of Colorado, the Charter of the City, the laws of the State of Colorado, the Ordinance
and the Supplemental Public Securities Act.
TERMS OF SALE
Submission of Bids. A prospective bidder must electronically submit a bid for the Series
2010 Bonds via PARITY. Bids may be submitted electronically via PARITY in accordance with
this Notice of Bond Sale, until 10:30 a.m. Mountain time, but no bid will be received after the
time for receiving bids specified above. To the extent any instructions or directions set forth in
PARITY conflict with this Notice of Bond Sale, the terms of this Notice of Bond Sale shall
control. For further information about PARITY, potential bidders may contact the Financial
Advisor at Piper Jaffray & Co., 1200 Seventeenth Street, Suite 1250, Denver, Colorado,
Telephone (303) 820-5848 or 303-820-5851, or Bidcomp/PARITY at 1359 Broadway, 2"d Floor,
New York, New York 10018, Telephone (212) 404-8153; Fax (212) 849-5021.
Bidding Parameters. Bidders are required to submit unconditional bids specifying the
rate of interest and premium, if any, at which the bidder will purchase all and not less than all of
the Series 2010 Bonds.
In formation Regarding Bids. Bidders may change and submit bids as many times as
they wish during the bidding; provided, however, that each bid submitted subsequent to a
bidder's initial bid must result in a lower true interest cost ("TIC") with respect to a bid when
compared to the immediately preceding bid of such bidder. During the bidding, no bidder will
see any other bidder's bid, but each bidder will be able to see its own ranking (i.e., "header,"
"Cover," "3'd ii
etc.).
Bids Constitute an Irrevocable Offer. Each bid submitted through PARITY shall be
deemed an irrevocable offer to purchase the Series 2010 Bonds on the tenns provided in this
Notice of Bond Sale and shall be binding upon the bidder.
Purchase Price. The purchase price bid shall not be less than 100% of the par amount of
the Series 2010 Bonds, nor will any net discount or commission be allowed or paid on the sale of
the Series 2010 Bonds.
Basis of Award. The Series 2010 Bonds will be sold to the bidder offering to purchase
the Series 2010 Bonds at the lowest TIC. The actuarial yield on the Series 2010 Bonds using the
TIC method will be computed at that yield which, if used to compute the present value of all
payments of principal and interest on the Series 2010 Bonds as of the date of' the Series 2010
Bonds, i.e., June 8, 2010 produces an amount equal to the aggregate bid price. Such calculation
will be made based upon a 360-day year and a semi-annual interval for compounding.
The winning bid will be indicated on PARITY and the auction results, as posted on such
website, will be subject to verification by the City and the Financial Advisor. The City and the
4823-2626-7141 3 6
Financial Advisor will verify the auction results immediately following the close of the bidding
period and notice of confirmation by the City and the Financial Advisor of the winning bidder
will be made by a posting on PARITY under the "Results" link.
If two or more bids have the same TIC, the first bid submitted, as determined by
reference to the time stamp displayed on PARI'T'Y, shall be deemed to be the leading bid.
Sale Reservations. The City reserves the right (a) to reject any and all bids for any Series
2010 Bonds, (b) to reoffer any Series 2010 Bonds for public or negotiated sale and (c) to waive
any irregularity or informality in any bid.
Adjustment oj' Principal Amount Upon acceptance of bids, the Council, after
consultation with its Financial Advisor, shall compute the yield restriction applicable to the
escrow for the Refunded Bonds and shall determine the composition of the escrow (which shall
be invested in [United States Securities - State and Local Government Series ("SLGS")).] To
the extent premium is received by the winning bidder and to the extent more or less Series 2010
Bond proceeds are required to establish such escrow, the principal amount of the Series 2010
Bonds shall be adjusted upward or downward as the City shall in its discretion determine.
Changes to be made will be communicated to the successful bidder by the time of award of the
Series 2010 Bonds and will not reduce or increase the aggregate principal amount of the Series
2010 Bonds by more than 20% in total principal amount.
Further, the City reserves the discretion, notwithstanding the foregoing, to vary the
principal amount of Series 2010 Bonds in excess of the parameters set forth above if the City
deems it necessary to accomplish such refunding, and notice thereof will be given over the
Munifacts Wire Service prior to the time bids are to be received.
Good Faith Deposit. A good faith deposit will, not be required in connection with the
submission of a bid for the bonds. The winning bidder will be required to wire seventy thousand
($70,000) to the City as bid security by 3:00 p.m. Mountain Time on May 4, 2010. The City will
provide wire instructions to the winning bidder. The bid security will be retained by the City
and: (a) will be applied, without allowance for interest, against the purchase price when the
Series 2010 Bonds are delivered to and paid for by such winning bidder or (b) will be retained by
the City as liquidated damages if the bidder defaults with respect to the bid or (c) will be returned
to the bidder if the Series 2010 Bonds are not issued by the City for any reason which does not
constitute a default by the bidder.
Manner and Time oj' Delivery. The Series 2010 Revenue Refunding Bonds will be
delivered to DTC for the account of the winning bidder at the expense of the City on June 8,
2010 or such later date as the City and the winning bidder may agree. The winning bidder will
not be required to accept delivery of the Series 2010 Bonds if they are not tendered for delivery
by the City on June 8, 2010, or such later date as the City and the winning bidder may agree;
provided that delivery of any Series 2010 Bonds is conditioned upon the receipt by the City of a
certificate as to their issue price. See "-Certification of Issue Price" below. Payment of the
purchase price due at delivery must be made in Federal Reserve funds for immediate and
unconditional credit to the City.
4823-2626-7141 3 7
The good faith deposit of the winning bidder will be credited to the purchaser at the time
of delivery of the Series 2010 Bonds (without accruing interest). If the winning bidder for the
Series 2010 Bonds fails or neglects to complete the purchase of the Series 2010 Bonds within
five days after such Series 2010 Bonds are made ready and are tendered for delivery, the amount
of its good faith deposit will be forfeited (as liquidated damages for non-compliance with the
bid) to the City, except as hereinafter provided.
Official Statement. The Preliminary Official Statement, dated April 21, 2010, and the
infonnation contained therein have been deemed final by the City as of its date within the
meaning of Rule 15c2-12 of the Securities and Exchange Commission ("Rule 15c2-12") with
permitted omissions, but is subject to change without notice and to completion or amendment in
the Final Official Statement in final form (the "Final Official Statement" or the "Official
Statement"). The Notice of Bond Sale and the Preliminary Official Statement may be viewed
and downloaded at www.meritos.com and at www.i-dealprospectus.com or a physical copy may
be obtained by contacting the City's Financial Advisor. See "Information" below.
The City, at its expense, will make available to the winning bidder, within seven (7)
business days after the award of the sale of the Series 2010 Bonds, up to 100 physical copies of
the Final Official Statement, and additional copies of the Final Official Statement may be
provided at the winning bidder's expense. The winning bidder must cooperate in providing the
information required to complete the Final Official Statement. The City will also provide the
Final Official Statement to the winning bidder in electronic form.
The winning bidder shall comply with the requirements of Rule 15c2-12 and the rules of
the Municipal Securities Rulemaking Board.
Continuing Disclosure Undertaking. The City has covenanted to provide, in a timely
manner, to the municipal securities information repository at http://cmma.msrb.org./ notice of the
occurrence of specified, material events and to provide certain financial information on an annual
basis as more fully set forth in the Preliminary Official Statement. The City is not currently in
default on any undertaking for disclosure.
State Securities Laws. The City has taken no action to qualify the offer or sale of the
Series 2010 Bonds under the securities laws of any state. Should any such qualification be
necessary, the City agrees to cooperate with the winning bidder in such matters, provided that the
City reserves the right not to consent to service of process outside its boundaries and expenses
related to any such qualification shall be the responsibility of the winning bidder.
CUSIP Nun:bers. CUSIP numbers will be issued and printed on the Series 2010 Bonds.
Any error or omission in printing such numbers on the Series 2010 Bonds will not constitute
cause for the winning bidder to refuse delivery of any Series 2010 Bond. All expenses in
relation to obtaining the CUSIP numbers and printing of the CUSIP numbers on the Series 2010
Bonds shall be paid for by the winning bidder.
4823-2626-7141.3 8
Legal Opinion, Series 2010 Bonds and Transcript. The validity and enforceability of
the Series 2010 Bonds will be approved by the City's Bond Counsel:
Kutak Rock LLP
1801 California Street
Suite 3100
Denver, Colorado 80202
(303) 297-2400
FAX: (303) 292-7799
www.kutakTock.corn
The purchaser of the Series 2010 Bonds will receive a certified transcript of legal
proceedings which will include, among other items:
(a) a certificate of the City to the effect that, as of its date, the Preliminary
Official Statement was deemed final within the meaning of Rule 15c2-12, except for the
omissions permitted under Rule 15c2-12;
(b) a certificate executed by officials of the City to the effect that there is no
litigation pending or, to their knowledge, threatened affecting the validity of the Series
2010 Bonds as of the date of their delivery;
(c) a certificate of the City to the effect that, as of the date of the Official
Statement and at all times to and including the date of delivery of the Series 2010 Bonds,
the Official Statement did not contain any untrue statement of a material fact or omit any
statement of a material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; and
(d) the opinion dated the date of the delivery of the Series 2010 Bonds, of
Kutak Rock LLP, Denver, Colorado, Bond Counsel to the City, to the effect that although
they have made no independent investigation or verification of the correctness and
completeness of the information included in the Official Statement, nothing that came to
their attention in rendering legal services in connection with the preparation of the
Official Statement causes them to believe that the Official Statement (excepting financial,
demographic, economic and statistical information, any forecasts, estimates and
assumptions, and any expressions of opinion, as to which they will express no belief), as
of its date, contained any untrue statement of a material fact or omitted to state any
material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.
Certification of Issue Price. Within 24 hours after the ratification of the award of the
Series 2010 Bonds, the winning bidder will be required to notify the City and its Financial
Advisor in writing of (1) the initial offering price of the Series 2010 Bonds to the public
(excluding bond brokers and other intennediaries) at which a substantial portion (10%) of each
maturity of the Series 2010 Bonds have been or are expected to be sold, (2) the initial offering
yield to maturity for each maturity of the Series 2010 Bonds and (3) the selling compensation
and the identity of the underwriter(s) necessary to complete the Official Statement.
4323-2626-?141 3 9
In addition, prior to delivery of the Series 2010 Bonds, the winning bidder will be
required to complete, execute, and deliver to the City a certificate in form and substance required
by Kutak Rock LLP, Bond Counsel, with respect to the public offering price and yield of the
Series 2010 Bonds and the total compensation received and profit realized by the winning bidder
in connection with the purchase and sale of the Series 2010 Bonds. By submitting its bid, each
bidder agrees to complete, execute and deliver such certificate prior to the delivery of the Series
2010 Bonds if its bid is accepted. It will be the responsibility of the winning bidder to institute
such syndicate reporting requirements, to make such investigation, and otherwise to ascertain the
facts necessary to enable it to make such certification with reasonable certainty. Any questions
concerning such certification should be directed to Kutak Rock LLP, Bond Counsel.
Right to Modify or Amend Notice of'Bond Sale. The City reserves the right to modify or
amend this Notice of Bond Sale and the Bid Form, prior to the bid date. If any modifications
occur, supplemental information with respect to the Series 2010 Bonds will be communicated by
posting on the PARITY website not later than 3:00 p.m., Mountain Time on the day preceding
the day on which proposals may be submitted, and bidders shall bid upon the Series 2010 Bonds
based upon the terms thereof set forth in this Notice of Bond Sale, as so modified by such
supplemental information.
Postponement of Sale. The City reserves the right to postpone the date and time
established for the receipt of bids. Any such postponement will be announced by posting on
PARITY prior to commencement of the bidding. If any date and time fixed for the receipt of
bids and the sale of the Series 2010 Bonds is postponed, an alternative sale date and time will be
announced at least one business day prior to such alternative sale date. On any such alternative
sale date and time, any bidder may submit bids electronically as described above for the purchase
of the Series 2010 Bonds in conformity in all respects with the provision of this Notice of Bond
Sale, except for the date and time of sale and except for any changes announced by posting on
PARITY at the time the sale date and time are announced.
Information. Copies (in reasonable quantities) of this Notice of Bond Sale, the
Preliminary Official Statement and other information concerning the City and the Series 2010
Bonds may be obtained from:
Mr. Robert W. Eichem
Director of Finance and Record
City of Boulder Municipal Building
1777 Broadway
P.O. Box 791
Boulder, Colorado $0302
(303) 441-1819
or from the City's Financial Advisor:
Mr, P. Jonathan Heroux or Mr. Bryan Stelmack
Piper Jaffray & Co.
4823-2626-7141-3 10
1200 Seventeenth Street
Suite 1250
Denver, Colorado 80202
(303) 820-5848 or 303 820-5851
By order of the City Council of the City of Boulder, Colorado, dated this 20t1i day of
April, 2010.
By A/ Susan Osborne
Mayor, City of Boulder, Colorado
By /s/Robert W. F,ichem
Director of Finance and Record, City of
Boulder, Colorado
(End of Notice of Bond Sale)
Section 3. Bids for the Series 2010 Bonds shall be received at the time and place and in
the manner provided in the Notice of Bond Sale as herein prescribed.
Section 4. The Council hereby approves the distribution and use in connection with the
offering of the Series 2010 Bonds of the Preliminary Official Statement in substantially the form
presented to the Council at this meeting, with such changes therein, if any, as are approved by
the Director of Finance and Record or the City Attorney.
Section 5. The officers of the City and its financial advisor are hereby authorized and
directed to take all other action necessary or appropriate to effectuate the provisions of this
resolution. All action heretofore taken (not inconsistent with this resolution) is hereby ratified,
approved and confirmed.
Section 6. If any section, paragraph, clause or provision of this resolution shall for any
reason be held to be invalid or unenforceable, the invalidity or unenforecability of such section,
paragraph, clause or provision shall not affect any of the remaining provisions of this resolution.
Section 7. This resolution shall take effect immediately upon its introduction and
passage.
4823-2626-7141 3 11
INTRODUCED, READ, PASSED AND ADOPTED this 20ch day of April, 2010.
[SEAL]
A [test:
By
Mayo]-
BY -'4
Director of Fhiance and R~ ord
f
021-262c,-7141,3 12