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Home My WebLink About2009-754-07/27/2009 75{ (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: July 27 , 2009. Time of Meeting: 5:30 o'clock P.M. Place of Meeting: Council Chambers, City Hall, Waterloo, Iowa. PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental body will meet at the date, time and place above set out. The tentative agenda for said meeting is as follows: X Resolution Approving an Advance of Funds, and Directing Filing of Certifications. Such additional matters as are set forth on the additional 4 page(s) attached hereto. (number) This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of Iowa, and the local rules of said governmental body. City Clerk, terloo, Iowa Nancy Ecker - 1 - July 27 , 2009 The City Council of Waterloo, Iowa, met in regular session, in the Council Chambers, City Hall, Waterloo, Iowa, at 5:30 o'clock P .M., on the above date. There were present Mayor Tim Hurley , in the chair, and the following named Council Members: Cole, Getty, Hart, Greenwood, Steve Schmitt, Welper, Reggie Schmitt Absent: none * * * * * * * * * - 2 - Council Member Getty introduced the following Resolution entitled "RESOLUTION APPROVING AN ADVANCE OF FUNDS FOR REPAYMENT FROM THE NORTHEAST INDUSTRIAL URBAN RENEWAL TAX INCREMENT REVENUE FUND AND DIRECTING THE FILING OF CERTIFICATION UNDER IOWA CODE SECTION 403.19" and moved its adoption. Council Member Reggie Schmitt seconded the motion to adopt. The roll was called and the vote was, AYES: Cole, Getty, Hart, Greenwood, Steve Schmitt, Welper, Reggie Schmitt NAYS: none RESOLUTION NO. 2009-754 RESOLUTION APPROVING AN ADVANCE OF FUNDS FOR REPAYMENT FROM THE NORTHEAST INDUSTRIAL URBAN RENEWAL TAX INCREMENT REVENUE FUND AND DIRECTING THE FILING OF CERTIFICATION UNDER IOWA CODE SECTION 403.19 WHEREAS, the City of Waterloo, Iowa has established the Northeast Industrial Urban Renewal Area (the "Urban Renewal Area") and is undertaking certain projects within the Urban Renewal Area, including making economic development grants for development; and WHEREAS, in furtherance thereof the City Council has heretofore, by Resolution No. 2009-651 adopted on July 6, 2009, approved and authorized execution of a Development Agreement between the City of Waterloo, to make an economic development grant to Veteran Enterprises, Ltd., in the amount of$207,000.00 to acquire currently unplatted land described as located generally east of North Elk Run Road, which property is located in the Northeast Industrial Site (the "Project"); and WHEREAS, in order to advance funds for the cost of the Project, it is necessary to make certain findings under Chapter 403 of the Code of Iowa; and - 3 - WHEREAS, it is the intention of the City to certify the amount of funds so advanced, for reimbursement under Iowa Code Section 403.19; and WHEREAS, the amount of funds to be advanced for the Project shall not exceed $217,000, including related legal fees and other incidental fees. NOW, THEREFORE, IT IS RESOLVED by the City Council of the City of Waterloo, Iowa, as follows: Section 1. Pursuant to Ordinance No. 3925 there has been established the Northeast Industrial Urban Renewal Area Tax Increment Revenue Fund (the Tax Increment Fund), into which all incremental property tax revenues received from the Northeast Industrial Urban Renewal Area are deposited. The Council finds the Project to be an Urban Renewal Project as defined in Iowa Code Chapter 403, and further approves an advance of City funds for said Project. Section 2. It is hereby directed that amounts not to exceed $217,000 be advanced from time to time from the General Fund in order to pay the costs of the Project. The advance shall be treated as an internal loan from the General Fund and shall be repaid to the General Fund from the Tax Increment Fund at the earliest opportunity, without interest. Section 3. The Chief Financial Officer and other City officials having responsibility for the books and records of the City shall take such actions as are necessary to comply with this Resolution, including but not limited to inclusion of these amounts in the budget, the advance and transfer of funds for the Project, and certification for reimbursement under Iowa Code Section 403.19. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, this 27th day of July , 2009. Mayor Tim Hurle ATTEST: rd-e.41— City Clerk N6y Eckert - 4 - CIG-3 CERTIFICATE STATE OF IOWA ) ) SS COUNTY OF BLACK HAWK ) I, 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 29th day of July , 2009. City Clerk, terloo, Iowa Nancy Eckert SEAL DCORNELL/569667.1/MSWord\11310.000 nriy7 o C x tri tri cn tri C 0 zr cn > 0C mzzH nC1-3I-+ H x 0 HCtri z O Z > tri n b o 3 - j wHzO • zCc 71 HG) C + tri cn z cn H G- O x � r tri 1--1 > > z H ori r E-+ H > t- t z Z td c, > Z O zn • o tri i1 rJ N tri 0 0 C-) z tri tri I C• YC H r z cn ' l C - H cn > > Il o H 7 J o znzi ztri • tri '771 z > tri •-‹ tri z 7J 1 t r i 1-3z 0 tri > zo tri