Public Notices


NOTICE OF SALE
City of Clive, Iowa
$7,200,000 General Obligation Urban Renewal Corporate Purpose Bonds,
Series 2008B

Bids will be received on behalf of the City of Clive, Iowa, until 1:00 o’clock p.m. on May 15, 2008, for the purchase of $7,200,000 General Obligation Urban Renewal Corporate Purpose Bonds, Series 2008B (the “Series 2008B Bonds”).

Either of the methods set forth below may be used, but no open bids will be accepted:

Sealed Bidding:  Sealed bids will be received at the office of the City Clerk, City Hall, Clive, Iowa.

Facsimile Bidding:  Facsimile bids will be received at the office of the City Clerk, City Hall, Clive, Iowa, and will be sealed and treated as sealed bids.

After the deadline for receipt of bids has passed, sealed bids will be opened and announced.  All bids will be presented to the City Council for consideration at its meeting to be held at 7:00 o’clock p.m. on May 15, 2008, at the Council Chambers, City Hall, Clive, Iowa, at which time the Series 2008B Bonds will be sold to the best bidder for cash. 

The Series 2008B Bonds will be issued as fully registered bonds in denominations of $5,000 or any integral multiple thereof, will be dated June 2, 2008, will bear interest payable semiannually on each June 1 and December 1 to maturity, commencing December 1, 2008, and will mature on June 1 in the following years and amounts:

Year

Principal

Amount

Year

Principal

Amount

2010

$300,000

2016

$765,000

2011

$300,000

2017

$800,000

2012

$300,000

2018

$830,000

2013

$680,000

2019

$870,000

2014

$710,000

2020

$910,000

2015

$735,000

    
       

The right is reserved to the City to call and redeem all of the Series 2008B Bonds maturing in the years 2017 to 2020, inclusive, in whole or from time to time in part, in one or more units of $5,000, on June 1, 2016, or on any date thereafter prior to and in any order of maturity (and within a maturity by lot), upon terms of par and accrued interest.

Bidders must specify a price of not less than $7,135,200, plus accrued interest.  The legal opinion of Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa, will be furnished by the City.

A good faith deposit of $72,000 is required and may be forfeited to the City in the event the successful bidder fails or refuses to take and pay for the Series 2008B Bonds.

The City reserves the right to reject any or all bids and to waive irregularities in any bid.

The Series 2008B Bonds are being issued pursuant to the provisions of Chapters 384 and 403 of the Code of Iowa and will constitute general obligations of the City, payable from taxes levied upon all the taxable property in the City without limitation as to rate or amount.

The Securities and Exchange Commission (the “SEC”) has promulgated certain amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 (17 C.F.R. § 240.15c2-12) (the “Rule”) that make it unlawful for an underwriter to participate in the primary offering of municipal securities in a principal amount of $1,000,000 or more unless, before submitting a bid or entering into a purchase contract for such securities, it has reasonably determined that the issuer or an obligated person has undertaken in writing for the benefit of the holders of such securities to provide certain disclosure information to prescribed information repositories on a continuing basis so long as such securities are outstanding.

On the date of issuance and delivery of the Series 2008B Bonds, the City will execute and deliver a Continuing Disclosure Certificate pursuant to which the City will undertake to comply with the Rule.  The City will covenant and agree to comply with and carry out the provisions of the Continuing Disclosure Certificate.  All of the officers of the City will be authorized and directed to take any and all actions as may be necessary to comply with the Rule and the Continuing Disclosure Certificate.

Bidders should be aware that the official terms of offering to be published in the Official Statement for the Series 2008B Bonds contain additional bidding terms and information relative to the Series 2008B Bonds.  In the event of a variance between statements in this Notice of Sale (except with respect to the time and place of the sale of the Series 2008B Bonds and the principal amount offered for sale) and said official terms of offering, the provisions of the latter shall control.

By order of the City Council of Clive, Iowa.


NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE

                      CITY OF CLIVE, IOWA, TO CONSIDER GRANTING TO

XENIA RURAL WATER DISTRICT A LICENSE FOR INSTALLATION OF A WATER PIPELINE ACROSS THE CITY’S PUBLIC RIGHT-OF-WAY FOR

N.W. 156TH STREET

 

              NOTICE IS HEREBY GIVEN that the City Council of the City of Clive, Iowa, will meet at the Clive City Hall, 1900 N.W. 114th Street, in the City of Clive, Iowa, at 7:00 p.m. on the  5th day of June, 2008, at which time and place the City Council will hold a public hearing on a proposed resolution approving the granting of a license to the Xenia Rural Water District to install a water pipeline across the City’s right-of-way for N.W. 156th Street.

 

              All interested persons may appear at the public hearing and at such time and place the Clive City Council will consider any objections to the proposed resolution and give all interested per­sons an opportunity to be heard.  This Notice is given by order of the City Council of the City of Clive, Iowa.