HomeMy WebLinkAbout02/25/1975CITY HALL, WATERLOO, IOWA
SPECIAL SESSION
FEBRUARY 25, 1975 - 7:00 P.M.
The City Council of the City of Waterloo, Iowa, met in Special Session in
the Council Chambers in the City Hall in said City at 7:00 P.M. on February
25, 1975.
Mayor Rooff in the Chair.
Present: Councilmen Berdell, Geiger, Getty, Lichty, Roehr and Wilharm.
Absent: Councilman Keller.
Councilman Calvin J. Geiger offered the invocation.
67355 - Moved by Roehr, seconded by Wilharm that the Copies of the Call for
the Special Meeting of February 25, 1975 at 7:00 P.M. be received
and placed on file.
67356 - Moved by Getty, seconded by Lichty that the proof of publication of
the "Notice of Hearing" on the Budget Estimate for the 12 months
period of July 1, 1975 to June 30, 1976 for the City of Waterloo,
Iowa, be recived and placed on file.
Motion carried.
67357 Mayor Rooff commended the people in attendance for coming to this
Budget hearing and for being interested in where the money goes.
He stated the last three weeks were spent in cutting the budget,
there would be a 10% increase in dollars as far as the City's
share goes, which roughly would be one-third of the total tax bill,
and pledged continued efforts to hold expenses down.
67358 The Mayor announced the time had arrived to hear objections, if any,
and asked if anyone present wished to be heard or make objection,
or if there were any written objections filed with the Clerk.
No one appeared to object orally, and the Clerk reported that no
written objections had been filed.
Moved by Getty, seconded by Lichty that the Budget for July 1, 1975
to June 30, 1976 be approved and adopted as previously read and
published in the Waterloo Daily Courier on February 19, 1975 and
it shall be as hereinafter stated in the Budget Summary Certificate,
and the City Clerk be and she is hereby instructed to file the
adopted Budget with the County Auditor as provided by law, said
Budget being in words and figures as shown on the following page...
(see Page 2)
On roll call, Berdell, Geiger, Getty, Lichty, Roehr and Wilharm
voted Aye. Nay: None. Absent: Keller. Mayor declared the mo-
tion carried.
67359 - Moved by Roehr, seconded by Lichty that Resolution No. 23760, a
Resolution Transferring from the Sewer Fund (Water Pollution Con-
trol) the sum of Three Hundred Forty Thousand Nine Hundred Twenty
Eight Dollars ($340,928.00), to the Debt Service Fund for payment
of bond principal during the Fiscal Year 1976, be adopted.
On roll call, Berdell, Geiger, Getty, Lichty, Roehr and Wilharm
voted Aye. Nay: None. Absent: Keller. Mayor declared the reso-
lution adopted.
Iowa Official Form No. 635 (Sheet 2)
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July 1, 1975 to June 30,
SUMMARY
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MATT ...AROTT 8 5058 CO.. WATERLOO. IOWA FORM 72
23.892,430
Total Program Expenditures $
33,527,513
Total Requirements $
Total Resources $
14,617,931 1,540,535
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RESOURCES
Total Beginning Non -Property Property Tax
Cash Balance Tax Income Asking
7-1-75 FYE 6-30-76 FYE 6-30-76
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ACTUAL LEVIES BY COUNTY AUDITOt;
Tax Rate Property Tax
in mills in Dollars
FYE 6-30-76 FYE 6-30-76
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Total Program Expenditures $
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67360 -
67360 - Moved by Getty, seconded by Lichty that Resolution No. 23761, a
Resolution transferring from the Revenue Sharing Trust Fund the sum
of Nine Hundred. Thousand Dollars ($900,000.00) to the Debt Service
Fund for payment of bond principal during the Fiscal Year 1976, be
adopted.
On roll call, Berdell, Geiger, Getty, Lichty, Roehr and Wilharm
voted Aye. Nay: None. Absent: Keller. Mayor declared the re-
solution adopted.
67361 - Moved by Roehr, seconded by Getty that Resolution No. 23762, a
Resolution transferring from the Road Use Tax Fund the sum of Three
Hundred One Thousand Six Hundred Ninety -Three Dollars ($301,693.00)
to the Debt Service Fund for the payment of bond principal during
the Fiscal Year 1976, be adopted.
On roll call, Berdell, Geiger, Getty, Lichty, Roehr and Wilharm
voted Aye. Nay: None. Absent: Keller. Mayor declared the
resolution adopted.
67362 - Mayor Rooff explained the three resolutions, that. in 1974 the City's
payment schedule for bond reduction was approximately $2,400,000,
in 1975 it jumped to $4,100,000 and that 30Q out of each dollar
goes to payment of old debts or bonds. He stated this was too high
of a schedule, he would like to get it down to 20Q, these payments
come right off the top and deprived the City of its ability to do
what he and the Council would like to dofor thepople. He gave special
tribute to the persons who helped him getthe Budget together.
Questions were raised as to the retirement bond schedule; Mayor
Rooff read the schedule and said that the future bond sales should
be held each year to no more than one-half of what was retired for
the year.
67363 - Mayor Rooff asked if there were any further questions on the Budget
and there being none, it was moved by Getty, seconded by Geiger
that the Council adjourn.
Motion carried.
Katherine Gibbs,
City Clerk
February 25, 1975