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Home My WebLink About2012-508-05/29/2012 (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: May 29, 2012. 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 the meeting is as follows: Not to exceed $750,000 General Obligation Bonds (ECP-7) • Public hearing on the issuance. • Resolution instituting proceedings to take additional action. Such additional matters as are set forth on the additional 5 page(s) attached hereto. This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of Iowa, and the local rules of the governmental body. Suzy Schar , City Clerk, Waterloo, Iowa May 29, 2012 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 Ernest G. Clark, in the chair, and the following named Council Members: Cole, Getty, Jones, Greenwood, Schmitt, Welper, Hart Absent: none * * * * * * * 1 The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the issuance of not to exceed $750,000 General Obligation Bonds, in order to provide funds to pay costs of remediation, replacement and improvement of property, buildings, equipment, and public facilities that have been damaged by a disaster as defined in Section 29C.2 and that are located in an area that the President of the United States has declared a major disaster (FEMA-DR-1763), including the relocated Public Works building/Central Garage Facilities Centralization project, an essential corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the issuance of the bonds, had been published pursuant to the provisions of Section 384.25 of the City Code of Iowa. The Mayor then asked the Clerk whether any written objections had been filed by any City resident or property owner 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 none were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed. (Attach here a summary of objections received or made, if any) 2 The Council then considered the proposed action and the extent of objections thereto. Whereupon, Council Member Cole 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 $750,000GENERAL OBLIGATIONBONDS", and moved: X 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 o'clock .M., on the day of , 2012, at this place. Council Member Hart seconded the motion. The roll was called and the vote was, AYES: Cole, Getty, Jones, Greenwood, Schmitt, Welper, Hart NAYS: none Whereupon, the Mayor declared the measure duly adopted. RESOLUTION NO. 2012-508 RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $750,000 GENERAL OBLIGATION BONDS WHEREAS, pursuant to notice published as required by law, this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of not to exceed $750,000 General Obligation Bonds, for the essential corporate purpose of paying costs of remediation, replacement and improvement of property, buildings, equipment, and public facilities that have been damaged by a disaster as defined in Section 29C.2 and that are located in an area that the President of the United States has declared a major disaster(FEMA-DR-1763), including the relocated Public Works building/Central Garage Facilities Centralization project, and has considered the extent of objections received from residents or property owners as to the proposed issuance of bonds; and, accordingly the following action is now considered to be in the best interests of the City and residents thereof. 3 r NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1. That this Council does hereby institute proceedings and take additional action for the sale and issuance in the manner required by law of not to exceed $750,000 General Obligation Bonds, for the foregoing essential corporate purpose. 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. Section 3. The Clerk and Chief Financial Officer are authorized and directed to proceed on behalf of the City with the sale of said Bonds, to select a date for the sale thereof, to cause to be prepared such notice and sale information as may appear appropriate, to publish and distribute the same on behalf of the City and this Council and otherwise to take all action necessary to permit the sale of said Bonds on a basis favorable to the City and acceptable to the Council. PASSED AND APPROVED this 29th day of May, 2012. Zi,te.,e.Y ae, Ernest G. Clark, Mayor ATTEST: uzy Schar , City Clerk 4 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 corporate records of the City showing proceedings of the City 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 (a copy of the face sheet of the 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 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 said Municipality hereto affixed this 29th day of May, 2012. l � uzy Schar s, City Clerk, Waterloo, Iowa (SEAL) 00869112-1\11310-095