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HomeMy WebLinkAbout1982-542-12.06.1982 RESOLUTION 1982-542 Resolution fixing a date for hearing on proposed Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) WHEREAS, the City of Waterloo, in the County of Black Hawk, State of Iowa (the "Issuer" ) , is an incorporated municipality authorized and empowered by the provisions of Chapter 419 of the Code of Iowa, 1981, as amended (the "Act" ) to issue revenue bonds for the purpose of financing the cost of acquiring, by construction or purchase, land, buildings, improvements and equipment, or any interest therein, suitable for use as clinic facilities; and WHEREAS, the Issuer has been requested by Frank Wingrove, Gerry Gienger and Mike Hollen (the "Obligors" ) , and has agreed subject to the public hearing required by the Act to issue its revenue bonds to finance the cost of the acquisition by construction or purchase•'of land, buildings, equipment and improvements suitable for use as ,a dental clinic (the "Project" ) located within the Issuer, which dill provide additional health care services for the inhabitants of the Issuer, and other benefits flowing therefrom; and WHEREAS, it is proposed to finance the cost of the Project through the issuance of Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) of the Issuer in an aggregate principal amount not to exceed $1, 000, 000 (the "Bonds" ) and to loan said amount to the Obligors or a partnership to be formed by them under a Loan Agreement between the Issuer and such other party or parties, the obligation of which will be sufficient to pay the principal of and redemption premium, if any, and interest on the Bonds as and when the same shall be due and payable; and WHEREAS, before the Bonds may be issued, it is necessary to conduct a public hearing on the proposal to issue the Bonds, all as required and provided for by Section 419. 9 of the Act; NOW, THEREFORE, BE IT RESOLVED by the City Council of the Issuer, as follows : Section 1. This Council shall meet at the City Hall Council Chambers - in Waterloo, Iowa, on the 28 day of December , 1982, at 7 . 00 o' clock, .m. , at which time and place a public hearing shall be held on the proposal to issue the Bonds referred to in the preamble hereof, at which hearing all local residents who appear shall be given an opportunity to express their views for or against the proposal to issue the Bonds . -2- BcLIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA Section 2. The City Clerk is hereby directed to give notice of - intention to issue the Bonds, setting forth the amount and purpose _ thereof, the time when and place where the hearing will be held, by publication at least once not less than fifteen (15 ) days prior to the date fixed for the hearing, in Waterloo Courier a newspaper published and having a general circulation within the Issuer. The notice shall be in substantially the following form: • -3- BCLIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA NOTICE OF INTENTION TO ISSUE Clinic Revenue Bonds (Dental Specialty Clinic Project) The City Council of the City of Waterloo, Iowa, (the "Issuer" ) will meet on the 28 day of December 1982, at 700 City Hall Council Chambers , in Waterloo, Iowa, at 7 :00 o' clock, p .m. , for the purpose of conducting a public hearing on the proposal, to issue Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) of the Issuer, in an aggregate principal amount not to exceed $1, 000, 000 (the "Bonds" ) , and to loan said amount to Frank Wingrove, Gerry Gienger and Mike Hollen (the "Obligors" ) , or a partnership to be formed by them, for the purpose of defraying the cost, to that amount, of the acquisition by construction or purchase of land, buildings, equipment and improvements suitable for use as a dental clinic, to be located within the Issuer. The Bonds, when issued, will be limited obligations and will not constitute general obligations of the Issuer nor will they be payable in any manner by taxation, but the Bonds will be payable solely and only from amounts received by the Issuer under a Loan Agreement between the Issuer and such party or parties, the obligation of which will be sufficient to pay the principal of and interest and redemption premium, if any, on the Bonds as and when the same shall become due . At the time and place fixed for said public hearing all local residents who appear will be given an opportunity to express their views for or against the proposal to issue the Bonds, and at the hearing or any adjournment thereof, the Issuer shall adopt a resolution determining whether or not to proceed with the issuance of the Bonds. By order of the City Council, this 6 day of December , 1982. i Cler uditor rry P. Burger -4- BcLIN, HARRIS, HELMICI< & HEARTNEY, LAWYERS, DES MOINES, IOWA Section 3. All resolutions and parts thereof .in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved this 6 day of December , 1982. d A ' Mayor , Leo P. Rohf Att st: Cit. Cie,- /Auditor ry . Burger (Seal 44 -5- BCLIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA