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HomeMy WebLinkAbout2019-346 & 347-05/13/2019 - GCP-3ITEMS TO INCLUDE ON AGENDA CITY OF WATERLOO, IOWA Not to Exceed $700,000 General Obligation Bonds (GCP-3) • Resolution Ratifying, Confirming and Approving Publication of Notice of Public Hearing • Public hearing on the issuance. • Resolution instituting proceedings to take additional action. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. May13, 2019 The City Council of the City of Waterloo, State of Iowa, met in regular session, in the Council Chambers, City I-Iall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the above date. There were present Mayor Quentin Hart, in the chair, and the following named Council Members: Morrissey, Feuss, Klein, Amos, Schmitt, and Juon Absent: Jacobs Vacant: None -1- Council Member Schmitt introduced the following Resolution entitled "RESOLUTION RATIFYING, CONFIRMING AND APPROVING PUBLICATION OF NOTICE OF PUBLIC HEARING FOR THE ISSUANCE OF NOT TO EXCEED $700,000 GENERAL OBLIGATION BONDS", and moved that the same be adopted. Council Member Amos seconded the motion to adopt. The roll was called and the vote was, AYES: Feuss, Klein, Amos, Schmitt, and Juon NAYS: Morrissey Whereupon, the Mayor declared the following Resolution duly adopted: RESOLUTION NO. 2019-346 RESOLUTION RATIFYING, CONFIRMING AND APPROVING PUBLICATION OF NOTICE OF PUBLIC HEARING FOR THE ISSUANCE OF NOT TO EXCEED $700,000 GENERAL OBLIGATION BONDS WHEREAS, the City of Waterloo, State of Iowa, is in need of funds to cany out the purpose of providing funds to pay the costs of the acquisition of vehicles for various city departments, including planning and zoning and leisure services, building and infrastructure improvements for public works facilities, including a vehicle automated wash system and the construction and equipping of a storage building, and the construction, renovation and improvement of airport facilities, parking lots and acquisition of related airport equipment; and 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 $700,000, 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 projects; 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 to receive oral and/or written objections from any resident or property owner to such action, and the right to petition for an election; and WHEREAS, the notice of above meeting has been published as required by Section 384.26 of the Code of Iowa, as amended, and the following action is now considered to be in the best interests of the City and its residents. -2- NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, STATE OF IOWA: 1. That the action of the Clerk setting a public hearing before the City Council to meet in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., the 13th day of May, 2019, for the purpose of taking action on the matter of the issuance of not to exceed $700,000 General Obligation Bonds, for general corporate purpose projects, the proceeds of which will be used to provide funds to pay the costs of the acquisition of vehicles for various city departments, including planning and zoning and leisure services, building and infrastructure improvements for public works facilities, including a vehicle automated wash system and the construction and equipping of a storage building, and the construction, renovation and improvement of airport facilities, parking lots and acquisition of related airport equipment, is hereby ratified, confirmed and approved. 2. That the Clerk has caused publication to be made of a notice of said meeting, in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in the City, said publication to be not less than ten (10) nor more than twenty (20) clear days before the date of the public meeting on the issuance of the Bonds. 3. That the form of notice of public hearing is hereby ratified, confirmed and approved. PASSED AND APPROVED this 13th day of May 2019. Quentin Hart, Mayor ATTEST: Kelley Felchle, City Clerk The Mayor next announced that this was the time and place for the public hearing and meeting on the matter of the issuance of not to exceed $700,000 General Obligation Bonds, in order to provide funds to pay the costs of the acquisition of vehicles for various city departments, including planning and zoning and leisure services, building and infrastructure improvements for public works facilities, including a vehicle automated wash system and the construction and equipping of a storage building, and the construction, renovation and improvement of airport facilities, parking lots and acquisition of related airport equipment, for general corporate purposes, and that notice of the proposal to issue the Bonds and the right to petition for an election had been published as provided by Section 384.26 of the Code of Iowa, and the Mayor then asked the City Clerk whether any petition had been filed in the Clerk's Office, in the manner - 3 - provided by Section 362.4 of the Code of Iowa, and the Clerk reported that no such petition had been filed, requesting that the question of issuing the Bonds be submitted to the qualified electors of the City. The Mayor then asked the Clerk whether any written objections had been filed by any resident or property owner of the City to the issuance of the Bonds. The Clerk advised the Mayor and the Council that No written objections had been filed. The Mayor then called for oral objections to the issuance of the Bonds and one was made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed. (Attach here is a summary of objections received) Whereupon, the Mayor declared the hearing on the issuance of the Bonds to be closed. The Council then considered the proposed action and the extent of objections thereto. Whereupon, Council Member Schmitt introduced and delivered to the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $700,000 GENERAL OBLIGATION BONDS", and moved: x0C n that the Resolution be adopted. to ADJOURN and defer action on the Resolution and the proposal to institute proceedings for the issuance of bonds to the meeting to be held at .M. on the day of , 2019, at this place. Council Member Amos seconded the motion. The roll was called and the vote was, AYES: Feuss, Klein, Amos, Schmitt, and Juon NAYS: Morrissey Whereupon, the Mayor declared the measure duly adopted. -4- RESOLUTION NO. 2019-347 RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $700,000 GENERAL OBLIGATION BONDS WHEREAS, pursuant to notice published as required by law, the City Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of not to exceed $700,000 General Obligation Bonds, for the general corporate purposes, in order to provide funds to pay the costs of the acquisition of vehicles for various city departments, including planning and zoning and leisure services, building and infrastructure improvements for public works facilities, including a vehicle automated wash system and the construction and equipping of a storage building, and the construction, renovation and improvement of airport facilities, parking lots and acquisition of related airport equipment, and has considered the extent of objections received from residents or property owners as to the proposed issuance of Bonds; and no petition was filed calling for a referendum thereon. The following action is now considered to be in the best interests of the City and residents thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, STATE OF IOWA: Section 1. That this Council does hereby institute proceedings and take additional action for the authorization and issuance in the manner required by law of not to exceed $700,000 General Obligation Bonds, for the foregoing general corporate purposes. Section 2. This Resolution shall serve as a declaration of official intent under Treasury Regulation 1.150-2 and shall be maintained on file as a public record of such intent. It is reasonably expected that the general fund moneys may be advanced from time to time for capital expenditures which are to be paid from the proceeds of the above Bonds. The amounts so advanced shall be reimbursed from the proceeds of the Bonds not later than eighteen months after the initial payment of the capital expenditures or eighteen months after the property is placed in service. Such advancements shall not exceed the amount authorized in this Resolution unless the same are for preliminary expenditures or unless another declaration of intention is adopted. PASSED AND APPROVED this 13th day of May, 2019. ATTEST: kelley Fe1ch1City Clerk Quentin Hart, Mayor 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 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 respect to the 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 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 Council 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 Co v cil �:`r to e: i� 1�+" ; ay of Ma 2019. (SEAL) elley Felc State of Io 6 ity Clerk, City of Waterloo, CERTIFICATE STATE OF IOWA ) SS COUNTY OF BLACK HAWK 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 by full authority from the Council of the City, I have caused a NOTICE OF PUBLIC HEARING (Not to Exceed $700,000 General Obligation Bonds (GCP-3)) 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 1,2019. WITNESS my official signature this 13th day of May, 2019. (SEAL) 01584715-1111310-130 7 /haw City Clerk, C't y of Waterloo, State of Iowa