HomeMy WebLinkAbout1999-349-05.24.1999 Whereupon, Council Member Krizek introduced and delivered
to the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING
PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION
AND ISSUANCE OF NOT TO EXCEED $700,000 GENERAL OBLIGATION
BONDS", and moved:
that the Resolution be adopted.
0 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 , 1999, at this place.
Council Member MIirnhy seconded the motion. The roll was
called and the vote was,
AYES: Getty. Murphy. Krizek. Gronen. Anders
NAYS:
Whereupon, the Mayor declared the measure duly adopted.
1999-349
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION
AND ISSUANCE OF NOT TO EXCEED $700,000
GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, the Council has held
a public meeting and hearing upon the proposal to institute proceedings for the issuance
of not to exceed $700,000 General Obligation Bonds for a general corporate purpose, in
order 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
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renovations, and no petition was filed calling for a referendum thereon. 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 COUNCIL OF THE CITY
OF WATERLOO, IOWA:
Section 1. That this Council does hereby institute proceedings and take additional
action for the authorization and issuance in the manner required by law of not to exceed
$700,000 General Obligation Bonds for the foregoing general 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 the original expenditures
incurred in connection with the above purpose.
PASSED AND APPROVED this 24th day of May , 1999.
OF
ayo , John R. /:. 'f
ATTEST:
City Clerk , ancy Eckert
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