HomeMy WebLinkAbout2015-326-5/11/2015 ITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
General Obligation Bonds
X Resolution Electing Classifications and Procedures for Proposed Bond Projects
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 Welper
Absent: Hart
Council Member_Lind introduced the following Resolution entitled
"RESOLUTION ELECTING CLASSIFICATIONS AND PROCEDURES FOR PROPOSED
BOND PROJECTS', and moved that the same be adopted. Council Member
Morrissey seconded the motion to adopt. The roll was called and the vote was,
AYES: Cole, Jones, SchmittLind Morrissey, and Welper
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION 2015-326 ELECTING CLASSIFICATIONS AND
PROCEDURES FOR PROPOSED BOND PROJECTS
WHEREAS, this Council proposes to authorize the issuance of general obligation bonds
under Chapters 3 84 and 403 of the Code of Iowa for the purpose of providing funds to pay the
costs of the fiscal year 2016 capital improvements projects; and
WHEREAS, the projects consist of both essential corporate purposes and general
corporate purposes, as those terms are defined in Section 384.24 of the Code of Iowa; and
WHEREAS, Section 384.28 of the Code of Iowa provides generally that the definitions
of essential corporate purposes and general corporate purposes are not mutually exclusive, and
that if a project or activity may be reasonably construed to be included in more than one
classification, the Council may elect at any time between the classifications and the procedures
respectively applicable to each classification; and
WHEREAS, the Chief Financial Officer has proposed that the projects to be funded with
the proposed general obligation bonds be classified for purposes of the applicable hearing
procedures as set forth in the summary attached hereto and made a part hereof.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the classifications and procedures proposed in the summary attached
hereto be and hereby are in all respects approved, and the City Council hereby elects the
classifications and procedures indicated on said summary, as authorized by Section 384.28, for
purposes of establishing the classifications and hearing procedures applicable to the proposed
FY2016ro'ect bonds.
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PASSED AND APPROVED this 1 lch day of Ma 2015.
Ernest G. Clark, Mayor
ATTEST:
Suzy Sc ares, City Clerk
G.O. Bond List Hearing Summary
CERTIFICATE
STATE OF IOWA )
COUNTY OF BLACK HAWK SS
)
1, the undersigned City Clerk of Waterloo, Iowa; do hereby certify that attached is a true
and complete copy of the portion of the corporate records of said Municipality showing
proceedings of the Council, and the same is a true and complete copy of the action taken by said
Council with respect to said matter at the meeting held on the date indicated 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 meeting 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 said 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 said 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 Council vacancy existed except as may be stated in said 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 said Municipality hereto affixed this III
day of _ May , 2015.
Suzy Sch res, City Clerk, Waterloo, Iowa
SEAL
01106785-1\11310-109