HomeMy WebLinkAbout2022-203-04.04.2022- Pre-Levy Resolution 2022B GO BONDSITEMS TO INCLUDE ON AGENDA
CITY OF WATERLOO, IOWA
General Obligation Bonds, Series 2022
• Resolution authorizing the issuance and levying a tax for the payment thereof.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
April 4, 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 Quentin Hart, in the chair, and the following named Council
Members:
Boesen, Nichols, Amos, Chiles, Grieder, Wilder and Feuss
Absent: None
Vacant: None
Council Member Grieder introduced the following Resolution entitled "RESOLUTION
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2022,
AND LEVYING A TAX FOR THE PAYMENT 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 and Feuss
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
ESOLUTION NO. 2022-203
RESOLUTION AUTHORIZING THE ISSUANCE OFGENERAL
OBLIGATION BONDS, SERIES 2022, AND LEVYING A TAX
FOR THE PAYMENT THEREOF
WHEREAS, the City of Waterloo, State of Iowa ("Issuer"), is a municipal corporation,
organized and existing under the Constitution and laws of the State of Iowa, and is not affected
by any special legislation; and
WHEREAS, the Issuer is in need of funds to pay 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; and
WHEREAS, the City Council has taken such acts as are necessary to authorize issuance
of the Bonds.
NOW, THEREFORE, IT IS RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, STATE OF IOWA:
Section 1. Authorization of the Issuance. General Obligation Bonds, Series 2022 shall be
issued pursuant to the provisions of Iowa Code Section 384.25 for the purposes covered by the
hearing.
Section 2. Levy of Annual Tax. For the purpose of providing funds to pay the principal
and interest as required under Chapter 76.2, there is levied for each future year the following
direct annual tax upon all the taxable property in the City of Waterloo, State of Iowa, to wit:
2
FISCAL YEAR (JULY 1 TO JUNE 30)
AMOUNT YEAR OF COLLECTION
$900,000 2022/2023
Principal and interest coming due at any time when the proceeds of the tax on hand are
insufficient to pay the amount due shall be promptly paid when due from current funds available
for that purpose and reimbursement must be made.
Section 3. Amendment of Levy of Annual Tax. Based upon the terms of the future sale
of the Bonds to be issued, this Council will file an amendment to this Resolution ("Amended
Resolution") with the County Auditor.
Section 4. Filing. A certified copy of this Resolution shall be filed with the County
Auditor of County of Black Hawk, State of Iowa, who shall, pursuant to Iowa Code Section 76.2,
levy, assess and collect the tax in the same manner as other taxes and, when collected, these
taxes shall be used only for the purpose of paying principal and interest on the Bonds.
PASSED AND APPROVED this 4th day of April, 2022.
ATTEST:
xelley Pe&ch(e .siNA
.,
Kelley Felchle, City Clerk
Queue 9
Quentin Hart, Mayor
-3
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.
SEAL
i
WITNESS my hand and the seal of the Council hereto affixed this 4th day of April, 2022.
11004,
K,&y 7e(ch(e
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
COUNTY AUDITOR'S CERTIFICATE
I, (�►�a�r f V EdQ✓ , County Auditor of Black Hawk County, State of Iowa,
hereby certify that on the 7+" day of 14p t ( , 2022 there was filed in my
office the Resolution of the City Council of the City of Waterloo, State of Iowa, adopted on the
4th day of April, 2022, such Resolution levying a tax for the purpose of paying principal and
interest on General Obligation Bonds, Series 2022, and authorizing the issuance of the Bonds.
X(10.4194,016
(COUNTY SEAL) County Auditor of Black Hawk County, State
of Iowa .,
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