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HomeMy WebLinkAbout2022-260-05.02.2022 Reallocation (Shaulis Road Project) - Waterloo 2019A BondsITEMS TO INCLUDE ON AGENDA CITY OF WATERLOO, IOWA • Public hearing on the proposed reallocation of Unspent Proceeds. • Resolution instituting proceedings to take additional action. NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE CHAPTER 21 AND THE LOCAL RULES OF THE CITY. May 2, 2022 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 Pro Tem Ray Feuss, in the chair, and the following named Council Members: Boesen, Nichols, Amos, Chiles, Grieder, Wilder and Feuss Absent: None Vacant: None The Mayor Pro Tem announced that this was the time and place for the public hearing and meeting on the matter of the proposed reallocation of not to exceed $875,000 of unspent proceeds of the General Obligation Bonds, Series 2019A, in order to provide funds to pay costs associated with the construction, reconstruction, and repairing of any street or bridge improvements, sidewalks, pedestrian overpasses and underpasses, trails storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices, and the acquisition of any real estate needed for any of the foregoing purposes, including for the Shaulis Road project (the "Project"), and that notice of the proposed action by the Council to institute proceedings for the proposed reallocation had been published pursuant to the provisions of Sections 364.6 and 384.25 of the Code of Iowa. The Mayor Pro Tem then asked the Clerk whether any written objections had been filed by any City resident or property owner to the proposed reallocation. The Clerk advised the Mayor Pro Tem and the Council that written objections had been filed. The Mayor Pro Tem then called for oral objections to the proposed reallocation and one was made. Whereupon, the Mayor Pro Tem declared the time for receiving oral and written objections to be closed. (Attach here a summary of objections received Exhibit "A") The Council then considered the proposed action and the extent of objections thereto. Council Member Amos introduced the following Resolution entitled "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION AND APPROVING THE REALLOCATION OF CERTAIN UNSPENT PROCEEDS OF THE GENERAL OBLIGATION BONDS, SERIES 2019A, OF THE CITY OF WATERLOO, IOWA", and moved that the same be adopted. Council Member Chiles 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 Pro Tem declared the Resolution duly adopted as follows: RESOLUTION NO. 2022-260 RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION AND APPROVING THE REALLOCATION OF CERTAIN UNSPENT PROCEEDS OF THE GENERAL OBLIGATION BONDS, SERIES 2019A, OF THE CITY OF WATERLOO, IOWA WHEREAS, pursuant to notice published as required by law, this Council has held a public meeting and hearing upon the proposal to institute proceedings for the reallocation of certain unspent proceeds in the amount of not to exceed $875,000 of General Obligation Bonds, Series 2019A (the "Unspent Proceeds"), of the City of Waterloo, Iowa, to provide funds to pay costs of the Project, and has considered the extent of objections received from residents or property owners as to said proposal and, accordingly 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 CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1. That this Council does hereby institute proceedings and takes additional action for the reallocation of the Unspent Proceeds to pay costs of the construction, reconstruction, and repairing of any street or bridge improvements, sidewalks, pedestrian overpasses and underpasses, trails storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices, and the acquisition of any real estate needed for any of the foregoing purposes, including for the Shaulis Road project, and such action is in all respects authorized and approved. Section 2. The City Clerk is authorized and directed to take such action as may be necessary to effect and implement the foregoing reallocation of the Unspent Proceeds as described herein, and to cause the records and accounts of the City to reflect the same. PASSED AND APPROVED this 2nd day of May, 2022. Ray Feuss, Mayor Pro Tem ATTEST: Kelley Felchle, City Clerk 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. WITNESS my hand and the seal of the Council hereto affixed this 2nd da of May, 2022. Kerrey Fetchte Kelley Felchle, City Clerk, City of Waterloo, State of Iowa SEAL ATTACHMENT "A" From; Email Admin< davedreyer@outlook, com> Sent; Monday, April 18, 2022 3; 02 PM To; Dave Boesen< Dave. Boesen( n WATERLOO- IA. ORG>; Ray Feuss< Ray, Feuss@WATERLOO- IA,ORG>; nia,wilder@waterloo- is- org; Jerome Amos Jr< JeromeAmos@WATERLOO- IA, ORG>; lohn. chiles@waterloo- is- org; Jonathan Grieder lonathan. Grieder@WATERLOO- IA. OR6>; rob. nldrols( rv„atedco- is- org; Mayor< Mayor@WATERLOO- IA,ORG> Subject; Bonds and pay CAUTION; This email originated from outside the City of Waterloo email system. Do not click links or open unexpected attachments unless you recognize the sender and know the content is safe. I notice on the current agenda there is a request to authorize the issuance of bonds public JJs 6,7, 8,9 and resolution 11, 12, 13 however on the consent agenda is a request to" release"" unspent bond funds" from a while back, items 9 and 10, at 875. 000 each! Aren' t those funds taken into consideration before you continue to borrow more? Aren' t you continuing to pay interest on them while you take on more interest expense? It Seems you need more funds! What about releasing those funds to pay down the debt or back down the new borrowing? Do any of you really know how much money you' ve borrowed, how much your in debt, including the state revolving fund, of which doesn' t count against your bonding limit. If you live in Waterloo as they say" were all in this together" so give us some answers, not hide the true facts! Dave I notice a proposed resolution for non - bargaining employees wages! I' m not opposed to people receiving a fair wage! Has consideration been give to those who pay those wages% Ark time the budget is discussed with respect to employee wages, largest part of the budget, nu are seems to care about where the money has to come from! Could getting and retaining employees have anything to do with the cost of living in Waterloo aka high property taxes along with over 50% of the staff doesn' t reside in Waterloo which adds additional burden to those of us that do!