HomeMy WebLinkAbout2002-472-08.05.2002 c)
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(This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
o street, Waterloo, Iowa.
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o RESOLUTION NO. 2002-472
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H RESOLUTION OF INTENT.
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o WHEREAS, the Waterloo City Council does not intend to use
o city property taxes to financially support the Recreation Complex
1 in conjunction with the Riverfront Renaissance Project, and
(A WHEREAS, the Waterloo Development Corporation (WDC) will
lease the Recreation Complex on a long-teiiu basis, and
WHEREAS, the Waterloo Development Corporation will be
financially responsible for the operations of the fitness club and
portions of the Recreation Complex that are available for public
use, and
WHEREAS, it is the intent of the Waterloo City Council not to
issue more bonds for streets annually than have been typically
issued for streets during the past ten years, and
WHEREAS, if bonds are used to construct portions of the
projects included as Vision Iowa Program projects on Revision #23,
it is the intent of the City Council to use revenue bonds if the
interest rate available for revenue bonds is acceptable, and
WHEREAS, it is the intent of the City Council that a separate
expanded oversight committee be appointed to monitor the use of
the local option tax designated for Riverfront Renaissance
Projects.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF WATERLOO, IOWA, that the Waterloo City Council
supports this Resolution of Intent.
PASSED AND ADOPTED this 5th day of August, 2002.
John R: Roof Mayor
ATTEST:
Nancy Ecke6- City Clerk