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HomeMy WebLinkAbout2005-437-05.16.2005 141.TXT (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: May 16 , 2005. 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 said meeting is as follows: Not to exceed $150,000 General Obligation Capital Loan Notes. • Resolution fixing date for a meeting on the proposition to authorize a Loan Agreement and the issuance of Notes to evidence the obligations of the City thereunder. Such additional matters as are set forth on the additional 6 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. City Clerk, a-rloo, Iowa Nancy Ecke - , CMC r' May 16 , 2005 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 Tim Hurley , in the chair, and the following named Council Members: Kincaid, Cole , Greenwood, Clark, Schmitt Gunderson, Welper Absent: None * * * * * * * * * -1- Council Member Clark introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $150,000 GENERAL OBLIGATION CAPITAL LOAN NO TES (FOR A GENERAL CORPORA 1'h PURPOSE) OF WA 1'BRLOO, IOWA, 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: Kincaid, Cole . Greenwood, Clark, Schmitt , Gunderson, Welper NAYS: None Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No . 2005-437 RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $150,000 GENERAL OBLIGATION CAPITAL LOAN NO TES (FOR A GENERAL CORPORA I'L PURPOSE) OF WA 1'ERLOO, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Waterloo, Iowa, should provide for the authorization of a Loan Agreement and the issuance of General Obligation Capital Loan Notes to the amount of not to exceed $150,000, as authorized by Sections 384.24A and 384.26(5), Code of Iowa, as amended, for the purpose of providing funds to pay costs of carrying out a general corporate purpose project as hereinafter described; and WHEREAS, the Loan Agreement and Notes shall be payable from the Debt Service Fund; and WHEREAS, said City has a population of more than 5,000, but not more than 75,000, and the amount of said proposed note issue is not more than $700,000; and -2- WHEREAS, before a Loan Agreement may be authorized and General Obligation Capital Loan Notes issued to evidence the obligation of the City thereunder, it is necessary to comply with the provisions of the City Code of Iowa, as amended, and to publish a notice of the proposal and of the time and place of the meeting at which the Council proposes to take action for the authorization of the Loan Agreement and Notes and the right to petition for an election. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1. That this Council meet in the Council Chambers, City Hall, Waterloo, Iowa, at 5 : 3 0 o'clock p .M., on the 6 t h day of June , 2005, for the purpose of taking action on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $150,000 General Obligation Capital Loan Notes, the proceeds of which will be used to pay costs of funding termination payments to retiring employees, including accrued vacation and sick leave obligations and shall bear interest at a rate not exceeding the maximum specified in the attached notice. Section 2. The Clerk is authorized and directed to proceed on behalf of the City with the negotiation of terms of a Loan Agreement and the issuance of General Obligation Capital Loan Notes evidencing the City's obligations to a principal amount of not to exceed $150,000, to select a date for the final approval 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 completion of a loan on a basis favorable to the City and acceptable to the Council. Section 3. That the Clerk is hereby directed to cause at least one publication to be made of a notice of said meeting, in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in said City, said publication to be not less than ten (10) clear days before the date of said public meeting on the issuance of the Notes. Section 4. The notice of the proposed action shall be in substantially the following form: -3- NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $150,000 GENERAL OBLIGATION CAPITAL LOAN NO I'ES (FOR A GENERAL CORPORATE PURPOSE)AND THE PUBLIC HEARING ON THE AUTHORIZATION AND ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the Council of the City of Waterloo, Iowa, will hold a public hearing on the 6th day of June , 2005, at 5 : 30 o'clock p .M., in the Council Chambers, City Hall, Waterloo, Iowa, at which meeting the Council proposes to take additional action for the authorization of a Loan Agreement and the issuance of not to exceed $150,000 General Obligation Capital Loan Notes for a general corporate purpose, bearing interest at the rate of not to exceed nine per centum (9%)per annum, in order to pay costs of funding termination payments to retiring employees, including accrued vacation and sick leave obligations. Principal and interest on the proposed Loan Agreement shall be payable from the Debt Service Fund. At any time before the date of said meeting, a petition asking that the question of entering into a loan agreement and issuing such notes be submitted to the legal voters of the City, may be filed with the Clerk of the City in the manner provided by Section 362.4 of the City Code of Iowa pursuant to Section 384.26 of the City Code of Iowa. This Notice is given by order of the Council of Waterloo, Iowa, as provided by Section 384.26(5) of the City Code of Iowa, as amended. Dated this 16 t h day of May , 2005. Fcitz(i- City Clerk aterloo, Iowa Nancy Eckert , CMC (End of Notice) -4- • • PASSED AND APPROVED this 16th day of May , 2005. Mayor Tim Hurley ATTEST: City Clerk N a y Eckert , CMC -5- CIG-3 9/91 CERTIFICATE STA Th OF IOWA ) ) SS COUNTY OF BLACK HAWK ) I, 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 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 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 18 th day of May , 2005. ag-j- City Clerk, terloo, Iowa Nancy Eckert , CMC SEAL DCORNELL\452900.1\WP\11310000 -6-