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HomeMy WebLinkAbout2022-109-02.21.2022 Fix Date ECP-UR $3,500,000 Additional Authority for Sullivan (plaza) 2022ITEMS TO INCLUDE ON AGENDA CITY OF WATERLOO, IOWA Not to Exceed $3,500,000 General Obligation Urban Renewal Bonds (ECP/UR) • 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. February 21, 2022 The City Council of the City of Waterloo, State of Iowa, met in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, in regular session, at 5:30 P.M., on the above date. There were present Mayor Pro Tem Ray Feuss, in the chair, and the following named Council Members: Dave Boesen, Rob Nichols, Jerome Amos, John Chiles, Nia Wilder and Ray Feuss Absent: None Vacant: None Council Member Feuss introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $3,500,000.00 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: Boesen, Nichols, Amos, Chiles, Grieder, Wilder, Feuss NAYS: None Whereupon, the Mayor Pro Tem declared the resolution duly adopted as follows: RESOLUTION NO. 2022-109 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $3,500,000 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, by Resolution No. 23654, adopted December 23, 1974, 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 Downtown Waterloo Riverfront Urban Renewal and Redevelopment Area Plan for the Downtown Waterloo Riverfront Urban Renewal and Redevelopment Area described therein, which Plan, as amended, is on file in the office of the Recorder of Black Hawk County; and WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of Iowa, should issue General Obligation Urban Renewal Bonds, to the amount of not to exceed $3,500,000.00, 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 THE CITY OF WATERLOO, STATE OF IOWA: Section 1. That this Council meet in the Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the 7th day of March 2022, for the purpose of taking 2 action on the matter of the issuance of not to exceed $3,500,000.00 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 Downtown Waterloo Urban Renewal and Redevelopment Area, such as those costs associated with the improvement, reconstruction, equipping and repair of the Waterloo Convention Center and surrounding plaza and pedestrian area. 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 by February 22, 2022) 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 $3,500,000 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 7th day of March 2022, 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 $3,500,000.00 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 Downtown Waterloo Urban Renewal and Redevelopment Area, such as those costs associated with the improvement, reconstruction, equipping and repair of the Waterloo Convention Center and surrounding plaza and pedestrian area. 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. -4 Dated this 21st day of February, 2022. Kelley Felchle, City Clerk, City of Waterloo, State of Iowa (End of Notice) -5 PASSED AND APPROVED this 21st day of February 2022. ATTEST: Kelley Felchle, City Clerk Ray Feuss Ray Feuss, Mayor Pro Tem -6 CERTIFICATE STATE OF IOWA ) SS COUNTY OF BLACK HAWK 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. WITNESS my hand and the seal of the Council hereto affixed this 21' day of February, 2022. K,elley Felchle Kelley Felchle, City Clerk, City of Waterloo, State of Iowa (SEAL) CERTIFICATE STATE OF IOWA ) SS COUNTY OF BLACK HAWK 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 $3,500,000.00 General Obligation Urban Renewal Bonds) (ECP/UR) 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: February 18, 2022. WITNESS my official signature this 21st day of February, 2022. 7(elley Felchle Kelley Felchle, City Clerk, City of Waterloo, State of Iowa