HomeMy WebLinkAbout2021-159-03.15.2021ITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
Not to Exceed $19,750,000 General Obligation Bonds
• Public hearing on the issuance.
• Resolution instituting proceedings to take additional action.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
March 15, 2021
The City Council of the City of Waterloo, State of Iowa, met in regular session, via
electronic means pursuant to Iowa Code section 21.8, as a meeting in person is impossible or
impractical due to concerns for the health and safety of council members, staff, and the public
presented by COVID-19, at 5:30 P.M., on the above date. There were present Mayor Quentin
Hart, in the chair, and the following named Council Members:
Boesen, Amos, Morrissey, Klein, Feuss, Grieder, Juon
Absent: None
Vacant: None
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 $19,750,000 General Obligation Bonds, in order to
provide funds to pay the costs of the acquisition, improvement and installation of traffic control
devices, signage, fixtures, equipment and improvements, including but not limited to traffic
signal, pavement markings, traffic safety, fiber optics installation, and street light fixtures,
connections, and facility improvements; the acquisition and installation of emergency services
communication equipment and systems, including early warning sirens; the acquisition of
vehicles and equipment for the Police and Fire Departments; the acquisition of vehicles and
equipment for the street, public works and sign and traffic departments; the rehabilitation and
improvement of City parks and the acquisition, repair and replacement of facilities, equipment
and improvements commonly found in City parks; the removal, replacement and planting of
trees in parks and public grounds; the construction, reconstruction and repairing of street,
sidewalk, trail, alley, public ground, marketplace, bridges, pedestrian underpasses and
overpasses, and intersection improvements; the acquisition, construction and improvement of
real and personal property useful for the protection of property from floods or high waters,
including flood control, levees, embankments, waterway, storm water and drainage
improvements; the removal or replacement of dead or diseased trees; the acquisition and
demolition of dangerous or dilapidated buildings, structures or properties, or funding multi-
family housing assistance; acquiring, developing and improving of a geographic computer data
base system suitable for automated mapping and facilities management; improvement of the city -
owned airport; the reconstruction and improvement of dams already owned; and refunding or
refinancing outstanding indebtedness of the City, including General Obligation Bonds, Series
2012A, General Obligation Bonds, Series 2013A, and General Obligation Bonds, Taxable Series
2013B, for essential corporate purposes, and that notice of the proposal to issue the Bonds had
been published as provided by Section 384.25 of the Code of Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by any
resident or property owner of the City 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.
Whereupon, the Mayor declared the hearing on the issuance of the Bonds to be closed.
The Council then considered the proposed action and the extent of objections thereto.
Whereupon, Council Member Morrissey 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 $19,750,000
GENERAL OBLIGATION BONDS", and moved:
X
o
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
.M. on the day of , 2021, at this place.
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Council Member Feuss seconded the motion. The roll was called and the vote was,
AYES: Boesen, Amos, Morrissey, Klein, Feuss, Grieder, Juon
NAYS: None
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO. 2021-159
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $19,750,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the issuance of not to
exceed $19,750,000 General Obligation Bonds, for the essential corporate purposes, in order to
provide funds to pay the costs of the acquisition, improvement and installation of traffic control
devices, signage, fixtures, equipment and improvements, including but not limited to traffic
signal, pavement markings, traffic safety, fiber optics installation, and street light fixtures,
connections, and facility improvements; the acquisition and installation of emergency services
communication equipment and systems, including early warning sirens; the acquisition of
vehicles and equipment for the Police and Fire Departments; the acquisition of vehicles and
equipment for the street, public works and sign and traffic departments; the rehabilitation and
improvement of City parks and the acquisition, repair and replacement of facilities, equipment
and improvements commonly found in City parks; the removal, replacement and planting of
trees in parks and public grounds; the construction, reconstruction and repairing of street,
sidewalk, trail, alley, public ground, marketplace, bridges, pedestrian underpasses and
overpasses, and intersection improvements; the acquisition, construction and improvement of
real and personal property useful for the protection of property from floods or high waters,
including flood control, levees, embankments, waterway, storm water and drainage
improvements; the removal or replacement of dead or diseased trees; the acquisition and
demolition of dangerous or dilapidated buildings, structures or properties, or funding multi-
family housing assistance; acquiring, developing and improving of a geographic computer data
base system suitable for automated mapping and facilities management; improvement of the city -
owned airport; the reconstruction and improvement of dams already owned; and refunding or
refinancing outstanding indebtedness of the City, including General Obligation Bonds, Series
2012A, General Obligation Bonds, Series 2013A, and General Obligation Bonds, Taxable Series
2013B, and has considered the extent of objections received from residents or property owners as
to the proposed issuance of Bonds; and following action is now considered to be in the best
interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
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Section 1. That this Council does hereby institute proceedings and take additional action
for the authorization and issuance in the manner required by law of not to exceed $19,750,000
General Obligation Bonds, for the foregoing essential corporate purposes.
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.
PASSED AND APPROVED this 15th day of March, 2021.
ATTEST:
Keley �etck/e
Kelley Felchle, City Clerk
e_/I4-i/1 rIc.r4-
DIGITALLY
SIGNED
Quentin Hart, Mayor
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STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
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) SS
)
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 this 15th day of March,
2021. Kelle, l ei ckLe
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa