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HomeMy WebLinkAbout2019-640-08/26/2019 $6,475,000 GEO Bond ITEMS TO INCLUDE ON AGENDA CITY OF WATERLOO,IOWA Not to Exceed $6,475,000 General Obligation Refunding Bonds • 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. August 26, 2019 The City Council of the City of Waterloo, State of Iowa, met in regular 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 Quentin Hart, in the chair, and the following named Council Members: Jacobs, Morrissey, Feuss, Klein, Amos, Schmitt and Juon Absent: None Vacant: None * * * * * * * - 1 - Council Member Juon introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $6,475,000 GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF WATERLOO, STATE OF IOWA (FOR ESSENTIAL CORPORATE PURPOSES), AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the same be adopted. Council Member Schmitt seconded the motion to adopt. The roll was called and the vote was, AYES: Jacobs, Morrissey, Feuss, Klein,Amos, Schmitt and Juon NAYS: None Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO. 2019-640 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $6,475,000 GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF WATERLOO, STATE OF IOWA (FOR ESSENTIAL CORPORATE PURPOSES), 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 Refunding Bonds, to the amount of not to exceed $6,475,000, as authorized by Section 384.25, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out essential corporate purpose project(s) as hereinafter described; and WHEREAS, before the Bonds may be issued, it is necessary to comply with the provisions of the Code, and to publish a notice of the proposal to issue such bonds and of the P P time and place of the meeting at which the Council proposes to take action for the issuance of the Bonds and to receive oral and/or written objections from any resident or property owner of the City to such action. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE 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 9th day of September, 2019, for the purpose of taking action on the matter of the issuance of not to exceed$6,475,000 General Obligation Refunding Bonds, for essential corporate purposes, the proceeds of which bonds will be used to provide funds to pay the costs of refunding or refinancing outstanding indebtedness, including General Obligation Bonds, Series 2011A dated June 29, 2011 and Taxable General Obligation Bonds, Series 2011B dated June 29, 2011. - 2 - Section 2. To the extent any of the projects or activities described in this resolution may be reasonably construed to be included in more than one classification under Division III of Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose" classification and procedure with respect to each such project or activity,pursuant to Section 384.28 of the Code of Iowa. Section 3. 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 four clear days nor more than twenty days before the date of the public meeting on the issuance of the Bonds. Section 4. The notice of the proposed action to issue bonds shall be in substantially the following form: - 3 - 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 $6,475,000 GENERAL OBLIGATION REFUNDING BONDS OF THE CITY (FOR ESSENTIAL CORPORATE PURPOSES), 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 9th day of September 2019, 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 $6,475,000 General Obligation Refunding Bonds, for essential corporate purposes, to provide funds to pay the costs of refunding or refinancing outstanding indebtedness, including General Obligation Bonds, Series 2011A dated June 29, 2011 and Taxable General Obligation Bonds, Series 2011B dated June 29, 2011. 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 384.25 of the Code of Iowa. Dated this 26th day of August, 2019. Kelley Felchle, City Clerk, City of Waterloo, State of Iowa - 4 - PASSED AND APPROVED this 26th day of August, 2019. Quentin Hart, Mayor ATTEST: / Kelley Felch e City 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 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 Council hereto affixed his 6th day of August, 2019. frigh4, / / K lley Felchl , ity Clerk, City of Waterloo, State of Iowa (SEAL) 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 $6,475,000 General Obligation Refunding Bonds) 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: August 30, 2019. WITNESS my official signature this 9th day of September, 2019. / / / elley Fele e, City Clerk, City of Waterloo, State of Io (SEAL) I do solemnly swear that the annexed copy of legal STATE OF IOWA, City of Waterloo Public Notice: $6,475,000 General Obligation Black Hawk County, SS Bonds for Essential Corporate Purposes Notice was published in the Waterloo-Cedar Falls Courier, a daily newspaper printed in Waterloo, Black Hawk County, Iowa, once commencing on the 30th NOTICE OF MEETING OF THE CITY day of August, 2019 in the name of said newspaper, COUNCIL OF THE CITY OF WATER- LOO, STATE OF IOWA, ON THE and that the annexed rate of advertised is the regular MATTER OF THE PROPOSED ISSU- ANCE OF NOT TO EXCEED$6,475,000 legal rate of said newspaper, and that the following is GENERAL OBLIGATION REFUNDING BONDS OF THE CITY(FOR ESSENTIAL a correct bill for publishing said notice. CORPORATE PURPOSES), AND THE HEARING ON THE ISSUANCE THERE- OF PUBLIC NOTICE is hereby given that the Printer's Bill $22.06 City Council of the City of Waterloo,State of Iowa,will hold a public hearing on the 9th day of September 2019,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 $6,475,000 General Obligation Refunding Bonds,for essential corporate purposes, to provide funds to pay the costs of refunding or refinancing out- standing indebtedness,including General Obligation Bonds, Series 2011A dated June 29, 2011 and Taxable General Obligation Bonds, Series 2011B dated June 29,2011. 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 LJLkuc pqq qBonds. i< JP r� t' This notice is given by order of the City `�lil 3"� Council of the City of Waterloo,State of Signed as provided by Section 384.25 of Signed the Code of Iowa. Dated this 26th day of August,2019. Kelley Felchle,City Clerk City of Waterloo,Iowa Subscribed and sworn to before me this 1 Day of �<6-c- _ A.D., 20 ,c't_ otary ' 'die Received of the sum of Dollars. In full for publication of the above notice. _ ,^'4, BRENDA L HUNTLEY -2I T- COMMISSION NO.841570 ai *ert`, ;* MY C01 I NE IRES /OwA