HomeMy WebLinkAbout1999-318-05.10.1999 Council Member Anders introduced the following Resolution
entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION
OF THE ISSUANCE OF NOT TO EXCEED $700,000 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: GPtt-v Murrhy, Jordan. Krizek, Gronen
Collier, AnderG
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
1999-318
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$700,000 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 $700,000 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 7 : 00 o'clock p .M., on the 24t-h day of Mny , 1999, for the
purpose of taking action on the matter of the issuance of not to exceed $700,000 of
General Obligation Bonds, the proceeds of which bonds will be used to provide funds to
pay costs of the construction and remodeling of city buildings and facilities; renovation of
the Five Sullivan Brothers Center; construction or reconstruction of buildings and
facilities for compliance with the Americans with Disabilities Act; equipping the Central
Garage Shop; improvements to the Krieg Center; golf course improvements;
improvements to the Young Arena; improvements to the Riverview Recreation Center;
improvements to the Soccer Complex and swimming pool renovations 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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NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, ON THE MATTER OF THE PROPOSED
ISSUANCE OF NOT TO EXCEED $700,000 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 74th day of may , 1999, at 7 . 00 o'clock_E.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 $700,000 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 the construction and
remodeling of city buildings and facilities; renovation of the Five Sullivan Brothers
Center; construction or reconstruction of buildings and facilities for compliance with the
Americans with Disabilities Act; equipping the Central Garage Shop; improvements to
the Krieg Center; golf course improvements; improvements to the Young Arena;
improvements to the Riverview Recreation Center; improvements to the Soccer Complex
and swimming pool renovations.
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 piovisions of Section 384.26 of the City Code of Iowa.
Dated at Waterloo, Iowa, this i ntrday of May , 1999.
City Clerk o aterloo, Iowa, Nancy Eckert
(End of Notice)
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PASSED AND APPROVED this 10th day of May , 1999.
May r hn R. Rooff
ATTEST:
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City Clerk , Clancy Eckert
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