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HomeMy WebLinkAbout1982-568-12.28.1982 Proceedings to Proceed With Issuance and Sale IDR-3594 (Commit) Waterloo, Iowa December 28 , , 1982 The City Council of Waterloo, Iowa, met in regular session on the 28th day of December , 1982, at 7 : 00 o'clock .m. , at the City hall Council Chambers in the City pursuant to law and to the rules of said Council. The meeting was called to order and there were present Leo P. Rooff , Mayor, in the Chair, and the following named Council Members: Bowers, Burton, Getty, Penaluna, Roehr and Wilharm. Absent: Dowie • The City Council investigated and found that notice of intention to issue Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) in an aggregate principal amount not to exceed $1, 000, 000 had, as directed by the City Council, been duly given according to law. This being the time and place specified in the notice for the conduct of a public hearing on the proposal to issue such Bonds, the Mayor announced that all local residents attending the hearing would now be given an opportunity to express their views for or against the proposal to issue the Bonds . The following local residents attending the hearing expressed their views as follows : -1- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA After all local residents who appeared at the hearing who desired to do so had expressed their views for or against the proposal to issue the Bonds, Council Member Getty introduced a Resolution entitled: "Resolution to Proceed with the Issuance and Sale of Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) in an aggregate principal amount not to exceed $1, 000, 000" and moved its adoption, seconded by Council Member PRTIaluna After due consideration of said Resolution by the Council, the Mayor put the question on the motion and upon the roll being called, the following named Council Members voted: Ayes : Bowers , Burton, Getty, Penaluna, Roehr and Wilharm. Absent Dowie. Nays : Whereupon, the Mayor declared said Resolution duly adopted and approval was signed thereto. Upon motion and vote the meeting adjourned. (7, !‘; Mayor Leo P. Ro;D f. tt t: I Dep. City lerk Mic e e Temeye (Seal) -2- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA RESOLUTION No. 1982 - 568 Resolution to Proceed with the Issuance and Sale of Clinic Revenue Bonds Series 1982 (Dental Specialty Clinic Project) in an aggregate principal amount not to exceed $1, 000, 000 WHEREAS, the City of Waterloo, Iowa, 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 made the necessary arrangements with Frank Wingrove, Gerry Gienger and Mike Hollen (the "Obligors") for their acquisition by construction or purchase of land, buildings, equipment and improvements suitable for use as a dental clinic (the "Project" ) to be located within the Issuer which will provide additional health care and medical care services for the inhabitants of the Issuer, and other public 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 interest and redemption premium, if any, on the Bonds, as and when the same shall be due; and WHEREAS, notice of intention to issue the Bonds has, as directed by the City Council of the Issuer, been duly given in compliance with the Act; and WHEREAS, a public hearing has been held on the proposal to issue the Bonds at the time and place as specified in said notice and all objections or other comments relating to the issuance of the Bonds have been heard; NOW, THEREFORE, BE IT RESOLVED by the City Council of the Issuer, as follows: -3- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA Section 1 . It is hereby determined it is necessary and advisable that the Issuer proceed with the issuance and sale of the Bonds as authorized and permitted by the Act to finance the cost of the Project, and such actions will be taken by the Issuer as may be required pursuant to the provisions of the Act to authorize, issue and sell the Bonds . Section 2. The Issuer will enter into all agreements necessary to be entered into by the Issuer in connection with the issuance and sale of the Bonds. The City Attorney shall approve all agreements to be entered into in connection with the issuance of the Bonds and such agreements shall be authorized and approved by the City Council of the ,. Issuer after due consideration prior to their execution by the Issuer. Section 3 . The Mayor, the City Clerk and the City Attorney are hereby authorized and directed to do any and all things deemed necessary in order to effect the accomplishment of the Project and the issuance and sale of the Bonds. Section 4. All resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 5. This Resolution shall become effective immediately upon its passage and approval . Passed and approved this 28th day of December , 1982 . Mayor Leo P. Ro f. Attest: Dep. City lerk Michel e emeyeA (Seal ) -4- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA • • State of Iowa County of Black Hawk SS: City of Waterloo I, the undersigned, being first duly sworn, do hereby depose and certify that I am the duly appointed, qualified and acting City Clerk of the aforementioned City and that as such I have in my possession or , have access to, the complete corporate records of said City and of its Council and officers; that I have carefully compared the transcript hereto attached with the aforesaid corporate records; and that said transcript hereto attached is a true, correct and complete copy of all the corporate records in relation to the adoption of the Resolution to Proceed with the Issuance and Sale of Clinic Revenue Bonds, Series 1982 (Dental Specialty Clinic Project) in an aggregate principal amount not to exceed $1, 000, 000. WITNESS my hand and the corporate seal of said City hereto affixed this 78th day of December , 1982 . Dep. Cit Clerk Michelle Temer (Seal) -5- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA