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HomeMy WebLinkAbout2015-333-5/11/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 . RESOLUTION NO. 2015-333 COVER SHEET PASSED AND ADOPTED this llth day of May 2015 . i II� ITEMS TO INCLUDE ON AGENDA CITE' OF WATERLOO, IOWA Not To Exceed$500,000 General Obligation Bonds (GCP-5) ® Resolution fixing date for a meeting on the proposition to issue. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY May 11, 2015 The City Council of the City of Waterloo, State of Iowa,met in open session, in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the above date. There were present Mayor Ernest G. Clark, in the chair, and the following named Council Members: Carolyn Cole, David Jones Steve SchmittTom Lind Pat Morrissey, and Ron Wel-per Absent: Hart - 1 - Council Member Morrissey introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $500,000 GENERAL OBLIGATION BONDS OF THE CITY OF WATERLOO, STATE OF IOWA (FOR GENERAL CORPORATE PURPOSES (GCP-5)), AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the same be adopted. Council Member—Wel per seconded the motion to adopt. The roll was called and the vote was, AYES: Cole, Jones, Schmitt Lind Morrissey,.and Welper NAYS: None Whereupon,the Mayor declared the resolution duly adopted as follows: RESOLUTION 2015-333 FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $500,000 GENERAL OBLIGATION BONDS OF THE CITY OF WATERLOO, STATE OF IOWA(FOR GENERAL CORPORATE PURPOSES (GCP-5)), AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Waterloo,State of Iowa, should issue General Obligation Bonds,to the amount of not to exceed$500,000, as authorized by Section 384.26, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out general corporate purpose project(s) as hereinafter described; and WHEREAS,the Issuer has a population of more than 5,000 but not more than 75,000, and the Bonds for these purposes do not exceed$700,000; and WHEREAS, before the Bonds may be issued, it is necessary to comply with the provisions of Chapter 384 of the Code of Iowa, and to publish a notice of the proposal to issue such Bonds and the right to petition for an election. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF WATERLOO, STATE OF IOWA: Section 1. That this Council meet in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the 26h day of May, 2015, for the purpose of talking action on the matter of the issuance of not to exceed$500,000 General Obligation Bonds (GCP- 5), for general corporate purposes,the proceeds of which bonds will be used to provide funds to -2 - I I pay the costs of acquisition of off-road maintenance equipment for the parks, golf course, and downtown departments; to pay the costs of golf course improvements; and shall bear interest at a rate not exceeding the maximum specified in the attached notice. Section 2. That the Clerk is hereby directed to cause at least one publication to be made of a notice of the meeting, in a legal newspaper,printed wholly in the English language, published at least once weekly, and having general circulation in the City. The publication to be not less than ten clear days nor more than twenty days before the date of the public meeting on the issuance of the Bonds. Section 3. The notice of the proposed action to issue bonds shall be in substantially the following form: - 3 - i i (To be published on or before: May 12 2015 NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $500,000 GENERAL OBLIGATION BONDS OF THE CITY (FOR GENERAL CORPORATE PURPOSES (GCP-5)), AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the City Council of the City of Waterloo, State of Iowa, will hold a public hearing on the 26"'day of May, 2015, at 5:30 P.M., in the Council Chambers City Hall 715 Mulberry Street, Waterloo Iowa, at which meeting the Council proposes to take additional action for the issuance of not to exceed $500,000 General Obligation Bonds (GCP-5), for general corporate purposes, bearing interest at a rate of not to exceed nine (9) per centum per annum,the Bonds to be issued to provide funds to pay the costs of acquisition of off-road maintenance equipment for the parks, golf course, and downtown departments;to pay the costs of golf course improvements. At any time before the date of the meeting, a petition, asking that the question of issuing such Bonds be submitted to the legal voters of the City,may be filed with the Clerk of the City in the manner provided by Section 362.4 of the Code of Iowa,pursuant to the provisions of Section 384.26 of the Code of Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City to the above action. After all objections have been received and considered, the Council will at the meeting or at any adjournment thereof, take additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the City Council of the City of Waterloo, State of Iowa, as provided by Section 384.26 of the Code of Iowa. th Dated this 11 day of May, 2015. Suzy Sch ates, City Clerk, City of Waterloo, State of Io a (End of Notice) -4 - i ' �� I I� i I PASSED AND APPROVED this 11th day of May 2015. Ernest G. Clark, Mayor ATTEST: Suzy Sc ares, ity Clerk - 5 - CERTIFICATE STATE OF IOWA ) SS COUNTY OF BLACK HAWK ) I, the undersigned City Clerk of the City of Waterloo, State of Iowa, do hereby certify that attached is a true and complete copy of the portion of the corporate records of the City showing proceedings of the Council, and the same is a true and complete copy of the action taken by the Council with h respect to the matt er at the meeting on the date i dicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way; that meeting and all action thereat was duly and publicly held in accordance with a notice of public hearing and tentative agenda, a copy of which was timely served on each member of the Council and posted on a bulletin board or other prominent place easily accessible to the public and clearly designated for that purpose at the principal office of the Council (a copy of the face sheet of the agenda being attached hereto)pursuant to the local rules of the Council and the provisions of Chapter 21, Code of Iowa,upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by law and with members of the public present in attendance; I further certify that the individuals named therein were on the date thereof duly and lawfully possessed of their respective city offices as indicated therein, that no vacancy existed except as may be stated in the proceedings, and that no controversy or litigation is pending,prayed or threatened involving the incorporation, organization, existence or boundaries of the City or the right of the individuals named therein as officers to their respective positions. WITNESS my hand and the seal of the Council hereto affixed this 1 lth_day of May , 2015. �a� "S' _4 Suzy Sch es, City Clerk, City of Waterloo, State of I wa (SEAL) CERTIFICATE STATE OF IOWA ) COUNTY OF BLACK HAWK SS ) I, the undersigned, do hereby certify that I am now and was at the times hereinafter mentioned, the duly qualified and acting Clerk of the City of Waterloo, in the County of Black Hawk State of Iowa and that as such Clerk and b full authority from the Council o Y y f the City, I have caused a NOTICE OF PUBLIC HEARING Not To Exceed$500,000 General Obligation Bonds (GCP-5) of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures a correct and complete copy,to be published as required by law in the "Waterloo Courier", a legal newspaper published at least once weekly, printed wholly in the English language, published regularly and mailed through the post office of current entry for more than two years and which has had for more than two years a bona fide paid circulation recognized by the postal laws of the United States, and has a general circulation in the City, and that the Notice was published in all of the issues thereof published and circulated on the following date: May 12, 2015. WITNESS my official signature at Waterloo, Iowa, this 12th day of May 32015. Suzy Scares, City Clerk, City of Waterloo, State of owa (SEAL) 01106761-1\11310-109