HomeMy WebLinkAboutCouncil Packet - 9/23/2019 - 5:20 pmTHE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
SPECIAL MEETING TO BE HELD AT
Harold E. Getty Council Chambers
Monday, September 23, 2019
5:20 PM
CITY OF WATERLOO
GOALS
1. Support the creation of new, livable wage jobs through a balanced economic
development approach of assisting existing businesses, fostering start-ups, attracting
new employers and cultivating an adequate workforce.
2. Implement a Community Policing strategy that creates a safe environment in
Waterloo.
3. Reduce the City's property tax levies through a responsible balance of cost reduction
in City operations and increases in taxable property valuations to ensure that
Waterloo is a competitive, affordable, and livable city.
4. Enhance the image of Waterloo and the City to residents and businesses inside and
outside of the community.
General Rules for Public Participation
1. At the chair/presider's discretion, you may address an item on the current agenda by
stepping to the podium, and after recognition by the chair/presider, state your name,
address and group affiliation (if appropriate) and speak clearly into the microphone.
2. You may speak one (1) time per item for a maximum of five (5) minutes as long as you have
registered with the City Clerk's office no later than 4:00 p.m. on the day of the Council
Meeting. If not registered with the City Clerk's office you may speak one (1) time per item
for a maximum of three (3) minutes.
3. If there is a hearing scheduled as part of an agenda item, the chair/presider will allow
everyone who wishes to address the council, using the same participation guidelines found
in these "general rules".
4. Although not required by city code of ordinances, oral presentations may be allowed at the
chair/presider's (usually the Mayor or Mayor Pro Tem) discretion. The "oral
presentations" section of the agenda is your opportunity to address items not on the agenda.
You may speak one (1) time per item for a maximum of five (5) minutes as long as you have
registered with the City Clerk's office no later than 4:00 p.m. on the day of the Council
Meeting. If not registered with the City Clerk's office a speaker may speak to one (1) issue
per meeting for a maximum of three (3) minutes. Official action cannot be taken by the
Council at that time, but may be placed on a future agenda or referred to the appropriate
department.
5. Keep comments germane and refrain from personal, impertinent or slanderous remarks.
6. Questions concerning these rules or any agenda item may be directed to the Clerk's Office
at 291-4323.
7. Citizens are encouraged to register with the Clerk's Office by 4:00 p.m. on Monday of the
day of the City Council meeting to appear before the City Council (may also register by
phone). Registered speakers will be given first priority.
Page 1 of 6
Roll Call.
Agenda, as proposed or amended.
A. Motion to approve the following:
OTHER COUNCIL BUSINESS
1. Presentation by Speer Financial.
2. $2,770,000 General Obligation Bonds, Series 2019C.
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $2,770,000 General Obligation Bonds, Series 2019C to
UMB Bank of Kansas City, MO at a rate of 1.723296%.
Submitted By: Michelle Weidner, Chief Financial Officer
3. $3,625,000 Taxable General Obligation Bonds, Series 2019D.
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $3,625,000 Taxable General Obligation Bonds, Taxable
Series 2019D to Piper Jaffray of Minneapolis, MN at a rate of 2.0435%.
Resolution authorizing redemption of outstanding General Obligation Bonds, Series
2011A, of the City of Waterloo, Iowa, dated June 29, 2011, and directing the Notice of
Redemption for the above named issue.
Resolution authorizing redemption of outstanding General Obligation Bonds, Series
2011B, of the City of Waterloo, Iowa, dated June 29, 2011, and directing the Notice of
Redemption for the above named issue.
Submitted By: Michelle Weidner, Chief Financial Officer
ADJOURNMENT
Motion to adjourn.
Kelley Felchle
City Clerk
Page 2 of 6
CITY OF WATERLOO
Council Communication
Presentation by Speer Financial.
City Council Meeting: 9/23/2019
Prepared:
REVIEWERS:
Department
Reviewer Action Date
Ick Approved moved 9/1.8/2019 P M
Page 3 of 6
CITY OF WATERLOO
Council Communication
$2,770,000 General Obligation Bonds, Series 2019C.
City Council Meeting: 9/23/2019
Prepared: 9/17/2019
REVIEWERS:
Department
Clerk Wile
Reviewer
Action Date
I\N.oci eIRe Approved 9/18/2019 ... 9:13 A.M
1-0,ecu�n, LAnn Approved 9/18/2019 11:14 AM
ATTACHMENTS:
Description
D Bond Sale 2.01190 20191:) Council Comm
SUBJECT:
Submitted by:
Summary Statement:
Expenditure R equired:
Type
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $2,770,000 General Obligation Bonds, Series
2019C to UMB Bank of Kansas City, MO at a rate of 1.723296%.
Submitted By: Michelle Weidner, Chief Financial Officer
Series 2019C will be tax-exempt for bondholders and Series 2019D will be
taxable for bondholders.
The par amounts for each series are subject to adjustment according to the
terms of the offerings. Final sale amounts may be different depending on the
bid prices received at the sale.
Principal and interest are required to be repaid.
Page 4of6
Mayor
QUENTIN
HARM
COUNCIL
MEMBERS
MARGARET
KLEIN
Ward 1
BRUCE
JACOBS
Ward 2
PATRICK
MORRISSEY
Ward 3
JEROME
AMOS, JR.
Ward 4
RAY
REUSS
Ward 5
SHARON
JUON
At -Large
STEVE
SC HMITT
At -Large
CITY OF WATERLOO, IOWA
CITY CLERK AND FINANCE DEPARTMENT
KELLEY FELCHLE • City Clerk MICHELLE WEIDNER, CPA • Chie{'F'ircancial U
leer
Council Communication
City Council Meeting:
Prepared:
Dept. Head Signature:
Number of Attachments:
September 23, 2019
September 17, 2019
Michelle Weidner, Chief Financial Officer
None
SUBJECT: FYE2019 Refunding Bond Issues — Bond Sale Award
$2,815,000 General Obligation Bonds, Series 2019C and $3,645,000 Taxable
General Obligation Bonds, Series 2019D
Submitted by: Michelle Weidner, Chief Financial Officer
Recommended City Council Actions:
Presentation by Speer Financial, Inc.
$2,815,000 General Obligation Bonds, Series 2019C
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $2,815,000 General Obligation Bonds, Series 2019C,
to at a rate of
$3,645,000 General Obligation Bonds, Taxable Series 2019D
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $3,645,000 General Obligation Bonds, Taxable Series
2019D, to ata rate of
Resolution authorizing redemption of outstanding General Obligation Bonds,
Series 2011A, of the City of Waterloo, Iowa, dated June 29, 2011, and directing
the Notice of Redemption for the above named issue.
Resolution authorizing redemption of outstanding General Obligation Bonds,
Series 2011 B, of the City of Waterloo, Iowa, dated June 29, 2011, and directing
the Notice of Redemption for the above named issue.
Summary Statement: Series 2019C will be tax-exempt for bondholders and
Series 2019D will be taxable for bondholders.
The par amounts for each series are subject to adjustment according to the terms
of the offerings. Final sale amounts may be different depending on the bid prices
received at the sale.
Expenditure Required: Principal and interest are required to be repaid.
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
Page 5of6
CITY OF WATERLOO
Council Communication
$3,625,000 Taxable General Obligation Bonds, Series 2019D.
City Council Meeting: 9/23/2019
Prepared: 9/17/2019
REVIEWERS:
Department
Clerk tib rhe
SUBJECT:
Reviewer
Action
Approved
c1chic, p elpcy App roved
Date
9/18/2019 ...
4 AM
9/18/2019 ... 1fD,04 A.N4
Motion to receive and file proof of publication of Notice of Sale.
Resolution directing sale of $3,625,000 Taxable General Obligation Bonds,
Taxable Series 2019D to Piper Jaffray of Minneapolis, MN at a rate of
2.0435%.
Resolution authorizing redemption of outstanding General Obligation Bonds,
Series 2011A, of the City of Waterloo, Iowa, dated June 29, 2011, and
directing the Notice of Redemption for the above named issue.
Resolution authorizing redemption of outstanding General Obligation Bonds,
Series 2011B, of the City of Waterloo, Iowa, dated June 29, 2011, and
directing the Notice of Redemption for the above named issue.
Submitted by: Submitted By: Michelle Weidner, Chief Financial Officer
Page 6 of 6