HomeMy WebLinkAbout2001-201-05.07.2001 Council Member Anders introduced the following Resolution
entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION
OF THE ISSUANCE OF NOT TO EXCEED $525,000 OF GENERAL OBLIGATION
BONDS AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and
moved that the same be adopted. Council Member Jordan seconded
the motion to adopt. The roll was called and the vote was,
AYES: Anders , Jordan, Murphy, Gronen, Getty
Berry
NAYS:
Whereupon, the Mayor declared the resolution duly adopted as follows:
Resolution No . 2001-201
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO
EXCEED $525,000 OF GENERAL OBLIGATION BONDS
(FOR A GENERAL CORPORATE PURPOSE)AND
PROVIDING FOR PUBLICATION OF NOTICE
THEREOF
WHEREAS, the City of Waterloo, Iowa, is in need of funds to carry out a general
corporate purpose project as hereinafter described; and, it is deemed necessary that it
should issue general obligation bonds to the amount of not to exceed $525,000 as
authorized by Section 384.26 of the City Code of Iowa, for the purpose of providing
funds to pay costs thereof; and
WHEREAS, said City has a population of more than 5,000, but not more than
75,000, and the amount of said proposed bond issue is not more than $700,000.00; and
WHEREAS, before said bonds may be issued, it is necessary to comply with the
provisions of Chapter 384 of the City Code of Iowa, and to publish a notice of the
proposal to issue such bonds and the right to petition for an election;
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NOW, THEREFORE, BE IT RESOLVED BY THE 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 21 s t day of May , 2001, for
the purpose of taking action on the matter of the issuance of not to exceed $525,000 of
General Obligation Bonds, the proceeds of which bonds will be used to provide funds to
pay costs of improvements to City Buildings, including the Street Department, Central
Garage facilities and Five Sullivan Brothers Center; improvements to the Cultural and
Arts Center, including roof repair and HVAC replacement; fire station improvements;
improvements to the public library, including carpet replacement and improvements to
the Stadium and Young Ice Arena 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 sale of said bonds, to select a date for the sale 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 sale of said bonds 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 clear days before the date of said public meeting
on the issuance of said bonds.
Section 4. The notice of the proposed action to issue said bonds shall be in
substantially the following form:
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i , .Y
t
NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, ON THE MATTER OF THE PROPOSED
ISSUANCE OF NOT TO EXCEED $525,000 PRINCIPAL AMOUNT OF
GENERAL OBLIGATION BONDS (FOR A GENERAL CORPORATE
PURPOSE), AND HEARING ON ISSUANCE OF SAID BONDS
Public Notice is hereby given that the Council of the City of Waterloo, Iowa, will
hold a public hearing on the 2 1 s r day of May , 2001, at 5 . 30 o'clock
P.M., in the Council Chambers, City Hall, Waterloo, Iowa, at which meeting the
Council proposes to take action for the issuance of not to exceed $525,000 of General
Obligation Bonds, bearing interest at the rate of not to exceed 9 per centum per annum,
said bonds to be issued for the purpose of providing funds to pay costs of improvements
to City Buildings, including the Street Department, Central Garage facilities and Five
Sullivan Brothers Center; improvements to the Cultural and Arts Center, including roof
repair and HVAC replacement; fire station improvements; improvements to the public
library, including carpet replacement and improvements to the Stadium and Young Ice
Arena.
This Notice is given by order of the Council of the City of Waterloo, Iowa, as
provided by Section 384.26 of the City Code of Iowa.
At any time before the date of said meeting, a petition, asking that the question of
issuing such bonds be submitted to the legal voters of said City, may be filed with the
Clerk of said City in the manner provided by Section 362.4 of the City Code of Iowa,
pursuant to the provisions of Section 384.26 of the City Code of Iowa.
Dated at Waterloo, Iowa, this 7th day of May , 2001.
City Clerk o aterloo, Iowa
Nancy Eckert
(End of Notice)
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PASSED AND APPROVED this 7 t h day of May 2001.
M or Joh R. Rooff
ATTEST:
City Clerk e cy Eckert
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