Loading...
HomeMy WebLinkAbout2003-377-05.27.2003 A -r (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Waterloo, Iowa. Date of Meeting: May 27 , 2003. Time of Meeting: 5 : 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: $870,000 General Obligation Bonds, Taxable Series 2003B • Resolution directing the advertisement for sale. Such additional matters as are set forth on the additional 7 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, terloo, Iowa Nancy Eckert May 27 , 2003 The City Council of Waterloo, Iowa, met in regular session, in the Council Chambers, City Hall, Waterloo, Iowa, at 5 : 3 oo'clock P.M., on the above date. There were present Mayor John R. Roof f , in the chair, and the following named Council Members: Kincaid , Welper, Greenwood , Clark, Jordan, Hurley Absent: G e t t y * * * * * * * * -1- Council Member Jordan introduced the following Resolution entitled "RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $870,000 GENERAL OBLIGATION BONDS, TAXABLE SERIES 2003B" and moved its adoption. Council Member Greenwood seconded the Resolution to adopt. The roll was called and the vote was, AYES: Kincaid, Welper, Greenwood, Clark, Jordan, Hurley NAYS: none Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO . 2003-377 RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $870,000 GENERAL OBLIGATION BONDS, TAXABLE SERIES 2003B WHEREAS, the City of Waterloo, Iowa, is in need of funds to pay costs of the reconstruction, extension and improvement of the Waterloo Municipal Airport; the acquisition, development and improvement of GIS/GPS mapping systems and components; the acquisition, construction and improvement of real and personal property useful for the protection of property from floods or high waters, including flood plain alleviation and relocation expenditures; the construction, reconstruction and repairing of street, sidewalk and intersection improvements; the acquisition of vehicles and equipment for the police, fire and street departments; the rehabilitation and improvement of City parks and the acquisition, repair and replacement of facilities, equipment and improvements commonly found in City parks; and the acquisition, improvement and installation of traffic control devices and street lighting fixtures, essential corporate purpose projects, and it is deemed necessary and advisable that the City issue general obligation bonds for said purpose to the amount of not to exceed $2,900,000 as authorized by Section 384.25 of the City Code of Iowa; and WHEREAS, the City of Waterloo, Iowa also is in need of funds to pay costs of the aiding in the planning, undertaking and carrying out of urban renewal project activities under Chapter 403 of the Code of Iowa, as amended, and the Urban Renewal Plans for the Downtown Waterloo Riverfront Urban Renewal Area, the Airport Tax Increment -2- Redevelopment Area and the Rath Tax Increment Redevelopment Area, including the acquisition of properties, and related demolition and clearance activities, for subsequent private redevelopment and the construction of public improvements within such areas, essential corporate purpose projects, and it is deemed necessary and advisable that the City issue general obligation bonds for said purpose to the amount of not to exceed S700,000 as authorized by Section 384.24(3)(q) of the City Code of Iowa; and WHEREAS, pursuant to notices published as required by Sections 384.25 and 384.24(3)(q) this Council has held public meetings and hearings upon the proposals to institute proceedings for the issuance of the above described bonds, and all objections, if any, to such Council action made by any resident or property owner of said City were received and considered by the Council; and it is the decision of the Council that additional action be taken for the issuance of said bonds, and that such action is considered to be in the best interests of said City and the residents thereof; WHEREAS, pursuant to Section 384.28 of the City Code of Iowa, it is deemed appropriate that certain of general obligation bonds hereinabove described be combined for purposes of issuance and sale in a single issue of corporate purpose bonds as hereinafter set forth. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1. That the bonds hereinafter described be offered at public sale, pursuant to advertisement as required by law. Section 2. That the Clerk is hereby directed to publish notice of sale of said bonds at least once, the last one of which shall be not less than four clear days before the date of the sale. Publication shall be made in the Waterloo Courier, a legal newspaper, printed wholly in the English language, published within the county in which the bonds are to be offered for sale or an adjacent county. Said notice is given pursuant to Chapter 75 of the Code of Iowa, and shall state that this Council, on the 9 t h day of June 2003, at 5 : 3 0 o'clock p.M., will hold a meeting to receive and act upon bids for said bonds; said notice to be in substantially the following form: -3- NOTICE OF BOND SALE Time and Place of Sealed Bids: Sealed bids for the sale of bonds of the City of Waterloo, Iowa, will be received at the office of the City Clerk, City Hall, in the City of Waterloo, Iowa (the "Issuer") at 12 : 00 o'clock p .M., on the 9 t h day of June , 2003. The bids will then be publicly opened and referred for action to the meeting of the City Council as stated below. Sale and Award: The sale and award of the bonds will be held at the Council Chambers, City Hall at a meeting of the City Council on the above date at 5 : 30 o'clock P .M. The Bonds: The bonds to be offered are the following: GENERAL OBLIGATION BONDS, TAXABLE SERIES 2003B, in the amount of$870,000, to be dated June 15, 2003 (the "Bonds"). Official Statement: The Issuer has issued a term sheet of information pertaining to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The term sheet may be obtained by request addressed to the City Clerk, 715 Mulberry Street, Waterloo, Iowa 50703, telephone: (319) 291-4571 or the financial advisor to the City, Speer Financial, Inc., Suite 4100, One North LaSalle Street, Chicago, IL 60602, telephone (312) 346- 3700. Terms of Offering: All bids shall be in conformity with and the sale shall be in accord with the Terms of Offering as set forth in the term sheet. Legal Opinion: Said bonds will be sold subject to the opinion of Ahlers & Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together with the printed bonds without cost to the purchaser and all bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or marketing of the bonds. Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public. -4- By order of the City Council of the City of Waterloo, Iowa. _4/1 Fde,v4— City Clerk of ti@City of Waterloo, Iowa Nancy Eckert (End of Notice) -5- PASSED AND APPROVED this 27th day of May 2003. May r Jo R. Roof ATTEST: c'CL<—+- Clerk Nancy kert -6- CIG-3 9/91 CERTIFICATE STATE 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 2 9 t h day of May , 2003. czket. City Clerk, terloo, Iowa Nancy Eckert SEAL DCORNELL\370108\1\11310067 -7-