HomeMy WebLinkAbout2000-278-05.22.2000 May 2? , 2000
The City Council of Waterloo, Iowa, met inr e g u i a r session, in the Council
Chambers, Waterloo, Iowa, at 5 : 3 0 o'clock P .M., on the above date. There were
present Mayor John R. Ro o f f , in the chair, and the following named Council
Members:
Anders , Jordan , Murphy, Gronen, Getty, Berry
Absent: Kr i z e k
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The Mayor announced that this was the time and place for the public hearing and
meeting on the matter of the issuance of$5,300,000 General Obligation Bonds in order
to provide funds to pay costs of the reconstruction and repair of bridges; the construction,
reconstruction, improvement, and equipping of works and facilities useful for the
collection and disposal of surface waters and streams; the construction, reconstruction,
extension, improvement, and equipping of works and facilities useful for the collection,
treatment, and disposal of sewage in a sanitary manner, including improvements to the
main treatment plant and facilities and the construction, reconstruction, and improvement
of waterways, and real and personal property, useful for the protection or reclamation of
property situated within the corporate limits of the city from floods or high waters, an
essential corporate purpose, and that notice of the proposed action by the Council to
institute proceedings for the issuance of said bonds, had been published pursuant to the
provisions of Section 384.25 of the City Code of Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by
any city resident or property owner to the issuance of said 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 said bonds and none were made.
Whereupon, the Mayor declared the time for receiving oral and written objections to be
closed.
(Attach here a summary of objections
received or made, if any)
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The Mayor announced that this was the time for meeting on the matter of the
issuance of not to exceed $100,000 of General Obligation Bonds in order to provide
funds to pay costs of golf course improvements; a general corporate purpose; and that
notice of the proposal to issue said bonds and the right to petition for an election had
been published as provided by Section 384.26, of the City Code of Iowa; and, the Mayor
then asked the Clerk whether any petition had been filed in the Clerk's Office, as
contemplated in Section 384.26 of the City Code of Iowa, and the Clerk reported that no
such petition had been filed, requesting that the question of issuing said bonds be
submitted to the qualified electors of the City.
Whereupon, the Mayor declared the hearing on the issuance of said bonds to be
closed.
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The Council then considered the proposed action and the extent of objections
thereto.
Whereupon, Council Member Anders introduced and delivered to
the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING
PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF
$5,300,000 GENERAL OBLIGATION BONDS", and moved:
® 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
o'clock_.M. on the day of , 2000, at
this place.
Council Member Get t y seconded the motion. The roll was
called and the vote was,
AYES: Anders , Jordan, Murphy , Gronen, Getty , Berry
NAYS:
Whereupon, the Mayor declared the measure duly adopted.
Resolution No, 2000-278
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF
$5,300,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, this Council has
held a public meeting and hearing upon the proposal to institute proceedings for the
issuance of$5,300,000 General Obligation Bonds for the essential corporate purpose of
paying costs of the reconstruction and repair of bridges; the construction, reconstruction,
improvement, and equipping of works and facilities useful for the collection and disposal
of surface waters and streams; the construction, reconstruction, extension, improvement,
and equipping of works and facilities useful for the collection, treatment, and disposal of
sewage in a sanitary manner, including improvements to the main treatment plant and
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facilities and the construction, reconstruction, and improvement of waterways, and real
and personal property, useful for the protection or reclamation of property situated within
the corporate limits of the city from floods or high waters, and has considered the extent
of objections received from residents or property owners as to said proposed issuance of
bonds; and, accordingly the 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, IOWA:
Section 1. That this Council does hereby institute proceedings and takes
additional action for the sale and issuance in the manner required by law of$5,300,000
General Obligation Bonds for the foregoing essential corporate purpose.
Section 2. That this Resolution be and does hereby serve as a declaration of
official intent under Treasury Regulation 1.150-2, because the City reasonably expects to
reimburse with the proceeds of the Bonds, all or a portion of original expenditures
incurred in connection with the above purpose.
PASSED AND APPROVED this 22nd day of - May , 2000.
May r Jo n R. Rooff
ATTEST:
( )q ' cite
City Clerk ncy Eckert
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