HomeMy WebLinkAbout2007-454-6/6/2007 ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: June 6 , 2007.
Time of Meeting: 4 : 3 0 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:
• Resolution directing the acceptance of a proposal to purchase $220,000
General Obligation Capital Loan Notes, Taxable Series 2007D, dated the
date of delivery.
Such additional matters as are set forth on the additional 5 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.
C�
City Jerk, rloo, Iowa
Nancy Eck
June 6-, 2007
The City Council of the City of Waterloo, Iowa, met in special session, in
the Council Chambers, City Hall, Waterloo, Iowa, at 4 . 30 o'clock P.M., on the
above date. There were present Mayor m;m x ,ri , in the chair, and the
following named Council Members:
Kincaid, Welper, Gunderson, Getty, Cole Schmitt
Absent: Greenwood
2
Council Member Gunderson introduced the following
Resolution hereinafter set out entitled "RESOLUTION DIRECTING THE
ACCEPTANCE OF A PROPOSAL TO PURCHASE $220,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES, TAXABLE SERIES 20071)", and moved its
adoption. Council Member Schmitt seconded the motion to adopt. The
roll was called and the vote was,
AYES: Kincaid, Welper, Gunderson, Getty, Cole, Schmitt
NAYS: none
Whereupon, the Mayor of the Council declared the Resolution duly adopted as
follows:
RESOLUTION NO. 2007-454
RESOLUTION DIRECTING THE ACCEPTANCE OF A
PROPOSAL TO PURCHASE $220,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES, TAXABLE
SERIES 2007D
WHEREAS, the City of Waterloo, Iowa, sometimes hereinafter referred to as the
City, is a municipal corporation duly incorporated, organized and existing under and by
virtue of the Constitution and laws of the State of Iowa; and
WHEREAS, it is deemed necessary that the City should enter into a Loan
Agreement and borrow the amount of$220,000 as authorized by Sections 384.24A and
384.26(5), Code of Iowa, as amended, for the purposes of paying costs of funding
termination payments to retiring employees, including accrued vacation and sick leave
obligations; and
WHEREAS, proposals have been requested and received from financial
institutions offering to enter into such Loan Agreement;and
WHEREAS, it is the intention of this Council to enter into a Loan Agreement in
accordance with the most favorable of said proposals.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA:
Section 1. That this Council does hereby accept the attached proposal of
Liberty Bank, FSB , of waterloo. Iowa
and takes additional action to permit the entering into of a Loan Agreement on the basis
proposed.
Section 2. The Mayor and City Clerk are authorized and directed to proceed on
behalf of the City to execute the acceptance portion of said proposal, to negotiate the final
terms of a Loan Agreement, to take all action necessary to permit the entering into of a
Loan Agreement on a basis favorable to the City and acceptable to the Council, and to
proceed to meet the conditions of this accepted proposal.
PASSED AND APPROVED this 6th day of ,Tune , 2007.
Mayor Tim Hurley
ATTEST:
City Clerk Na c Eckert
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CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
) SS
COUNTY OF BLACK HAWK )
1, 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
Iaw 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 8th
day of June , 2007.
City Clerk;Wa er o, Iowa
Nancy Ecker
SEAL
DCORNELU 337305.1 MSWordN 1310080
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