HomeMy WebLinkAbout2021-621 - Fix Date $14,500,000 2022 Taxable GO Urban Renewal BondsITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
Not to Exceed $14,500,000 Taxable General Obligation Urban Renewal Bonds (ECP/UR #1)
• Resolution fixing date for a meeting on the proposition to issue.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
September 20, 2021
The City Council of the City of Waterloo, State of Iowa, met in regular session, in the
Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the above
date. There were present Mayor Quentin Hart, in the chair, and the following named Council
Members:
Boesen, Amos, Morrissey, Klein, Feuss, Grieder, Juon
Absent: None
Vacant: None
Council Member Juon introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT
TO EXCEED $14,500,000 TAXABLE GENERAL OBLIGATION URBAN RENEWAL
BONDS OF THE CITY OF WATERLOO, STATE OF IOWA (FOR ESSENTIAL
CORPORATE URBAN RENEWAL PURPOSES), AND PROVIDING FOR PUBLICATION
OF NOTICE THEREOF", and moved that the same be adopted. Council Member Amos
seconded the motion to adopt. The roll was called and the vote was,
AYES: Feuss, Grieder, Juon, Boesen, Amos, Morrissey, Klein
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2021-621
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$14,500,000 TAXABLE GENERAL OBLIGATION URBAN
RENEWAL BONDS OF THE CITY OF WATERLOO, STATE
OF IOWA (FOR ESSENTIAL CORPORATE URBAN
RENEWAL PURPOSES), AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, in 1999 the Council found and determined that certain areas located
within the City are eligible and should be designated as an urban renewal area under Iowa law,
and approved and adopted the San Marnan Urban Renewal and Redevelopment Plan for the San
Marnan Urban Renewal and Redevelopment Plan Area described therein, which Plan, as
amended, is on file in the office of the Recorder of Black Hawk County; and
WHEREAS, by Resolution adopted July 13, 2020, this Council approved and adopted an
Amendment No. 6 to the Plan, which Amendment confirmed, modified, added or deleted urban
renewal projects proposed to be undertaken within the Area, and added land; and
WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of
Iowa, should issue Taxable General Obligation Urban Renewal Bonds, to the amount of not to
exceed $14,500,000, as authorized by Sections 384.25 and 403.12, of the Code of Iowa, for the
purpose of providing funds to pay costs of carrying out essential corporate urban renewal
purpose project(s) as hereinafter described; and
WHEREAS, before bonds may be issued, it is necessary to comply with the procedural
requirements of Chapters 384 and 403 of the Code of Iowa, and to publish a notice of the
proposal to issue such bonds and the right to petition for an election.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
WATERLOO, STATE OF IOWA:
2
Section 1. That this Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 5:30 P.M., on the 18th day of October, 2021, for the purpose of taking
action on the matter of the issuance of not to exceed $14,500,000 Taxable General Obligation
Urban Renewal Bonds, for essential corporate urban renewal purposes, the proceeds of which
bonds will be used to provide funds to pay the costs of aiding in the planning, undertaking and
carrying out of urban renewal projects under the authority of Chapter 403 and the Urban
Renewal Plan for the San Marnan Urban Renewal and Redevelopment Plan Area, as amended
from time to time, including those costs associated with the acquisition of properties and
financing one or more Economic Development Grants to private developers to fund the
acquisition, construction, and equipping of a recreational theme park.
Section 2. To the extent any of the projects or activities described in this resolution may
be reasonably construed to be included in more than one classification under Division III of
Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose"
classification and procedure with respect to each such project or activity, pursuant to Section
384.28 of the Code of Iowa.
Section 3. That the Clerk is hereby directed to cause at least one publication to be made
of a notice of the meeting, in a legal newspaper, printed wholly in the English language,
published at least once weekly, and having general circulation in the City. The publication to be
not less than ten clear days nor more than twenty days before the date of the public meeting on
the issuance of the Bonds.
Section 4. The notice of the proposed action to issue bonds shall be in substantially the
following form:
3
(To be published between: September 28, 2021 and October 5, 2021)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$14,500,000 TAXABLE GENERAL OBLIGATION URBAN
RENEWAL BONDS OF THE CITY (FOR ESSENTIAL
CORPORATE URBAN RENEWAL PURPOSES), AND THE
HEARING ON THE ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waterloo, State of
Iowa, will hold a public hearing on the 18th day of October, 2021, at 5:30 P.M., in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at which meeting the Council
proposes to take additional action for the issuance of not to exceed $14,500,000 Taxable General
Obligation Urban Renewal Bonds, for essential corporate urban renewal purposes, to provide
funds to pay the costs of aiding in the planning, undertaking and carrying out of urban renewal
projects under the authority of Chapter 403 and the Urban Renewal Plan for the San Marnan
Urban Renewal and Redevelopment Plan Area, as amended from time to time, including those
costs associated with the acquisition of properties and financing one or more Economic
Development Grants to private developers to fund the acquisition, construction, and equipping of
a recreational theme park.
At any time before the date of the meeting, a petition, asking that the question of issuing
such Bonds be submitted to the legal voters of the City, may be filed with the Clerk of the City in
the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of
Sections 384.24(3)(q), 384.25 and 403.12 of the Code of Iowa.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City to the above action. After all objections have been
received and considered, the Council will at the meeting or at any adjournment thereof, take
additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds.
This notice is given by order of the City Council of the City of Waterloo, State of Iowa,
as provided by Chapters 384 and 403 of the Code of Iowa.Dated this 20th day of September,
2021.
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(End of Notice)
4
PASSED AND APPROVED this 20th day of September, 2021.
ATTEST:
Kelley Felchle, City Clerk
Quentin Hart, Mayor
-5
STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
)
) SS
)
I, the undersigned City Clerk of the City of Waterloo, State of Iowa, do hereby certify
that attached is a true and complete copy of the portion of the records of the City showing
proceedings of the Council, and the same is a true and complete copy of the action taken by the
Council with respect to the matter at the meeting held on the date indicated in the attachment,
which proceedings remain in full force and effect, and have not been amended or rescinded in
any way; that meeting and all action thereat was duly and publicly held in accordance with a
notice of meeting and tentative agenda, a copy of which was timely served on each member of
the Council and posted on a bulletin board or other prominent place easily accessible to the
public and clearly designated for that purpose at the principal office of the Council pursuant to
the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable
advance notice to the public and media at least twenty-four hours prior to the commencement of
the meeting as required by law and with members of the public present in attendance; I further
certify that the individuals named therein were on the date thereof duly and lawfully possessed of
their respective City offices as indicated therein, that no Council vacancy existed except as may
be stated in the proceedings, and that no controversy or litigation is pending, prayed or
threatened involving the incorporation, organization, existence or boundaries of the City or the
right of the individuals named therein as officers to their respective positions.
2021.
SEAL
WITNESS my hand and the seal of the Council hereto affixed this 20th day of September,
gar
y
DIGITALLY
SIGNED
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
)
) SS
)
I, the undersigned, do hereby certify that I am now and was at the times hereinafter
mentioned, the duly qualified and acting Clerk of the City of Waterloo, in the County of Black
Hawk, State of Iowa, and that as such Clerk and by full authority from the Council of the City, I
have caused a
NOTICE OF PUBLIC HEARING
(Not to Exceed $14,500,000 Taxable General Obligation Urban Renewal
Bonds) (ECP/UR #1)
of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures
a correct and complete copy, to be published as required by law in the "Waterloo Courier", a
legal newspaper published at least once weekly, printed wholly in the English language,
published regularly and mailed through the post office of current entry for more than two years
and which has had for more than two years a bona fide paid circulation recognized by the postal
laws of the United States, and has a general circulation in the City, and that the Notice was
published in all of the issues thereof published and circulated on the following date:
October 8, 2021.
WITNESS my official signature this 10th day of October, 2021.
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
SEAL