HomeMy WebLinkAbout1982-027-01.18.1982 Waterloo , Iowa , January 18 , 1982.
The City Council of Waterloo , Iowa , met on the above date
in the Council Chambers, City Hall , in Waterloo , Iowa , at 7 : 00
o' clock P.M. , in regular session , pursuant to law and the rules
of said Council .
The meeting was called to order by Jack Roehr, Mayor Pro Tem
presiding , and on roll call the following Council Members were
present:
Harold Getty
Robert Wilharm
Frank Dowie
Tom Penaluna
Delman Bowers
Jim Burton
Absent:
None
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After ample opportunity had been given to all persons who
appeared at the hearing to express their views for or against
the proposal to issue the Bonds , Council Member Bowers
proposed the following Resolution and moved its adoption .
Council Member Penaluna seconded the motion to adopt. After
due consideration of said motion , the roll was called and the
Resolution was adopted by the following vote :
AYES : Getty, Wilharm, Dowie, Penaluna,
Bowers and Burton .
NAYS : None
The Resolution was thereupon signed by the Mayor Pro Tem and in
evidence of his approval , was attested by the City Clerk, and
was declared to be effective. The Resolution is as follows :
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RESOLUTION NO. 1982-27
RESOLUTION RELATING TO THE HOLDING OF A PUBLIC HEARING
AND APPROVING PROCEEDING WITH THE ISSUANCE AND SALE OF
NOT TO EXCEED $2 , 000 , 000 IN AGGREGATE PRINCIPAL AMOUNT
OF INDUSTRIAL DEVELOPMENT REVENUE BONDS ( CONWAY PLAZA
DEVELOPMENT CO. PROJECT) SERIES 1982 , OF THE CITY OF
WATERLOO, IOWA.
WHEREAS , the City of Waterloo , a political subdivision of
the State of Iowa ( the "City" ) , is authorized by Chapter 419 of
the Iowa Code , as amended ( the "Act" ) , to issue Industrial
Development Revenue Bonds for the purpose of defraying the cost
of acquiring , constructing , improving and equipping land ,
buildings and improvements suitable for use as commercial
enterprises consisting of retail and commercial facilities
which the City finds is consistent with the urban renewal plan
adopted by the City pursuant to Chapter 403 , Code of Iowa , and
to loan the proceeds from the sale of such Bonds , pursuant to a
loan agreement , to Conway Plaza Development Co. , a general
partnership ( hereinafter referred to as the "Company" ) , to be
used for the aforesaid purposes ; and
WHEREAS, the City has determined said Project is located
within the area of and is consistent with and authorized by the
City' s Downtown Urban Renewal and Redevelopment Plan , and there
is a public need in the City and its surrounding environs for
implementation of said Downtown Urban Renewal and Redevelopment
Plan , which will promote urban renewal , rehabilitation and
redevelopment of the City, will eliminate blighted areas within
the City and provide employment opportunities for residents of
the City and the surrounding area; and
WHEREAS , a notice of hearing on the proposal to issue not
to exceed $2 , 000 , 000 aggregate principal amount of Industrial
Development Revenue Bonds ( Conway Plaza Development Co.
Project) Series 1982 (the "Bonds" ) , of the City has been
published as required by law; and
WHEREAS, a public hearing has been held at the time and
place as specified in said notice of hearing and any and all
objections or other comments relating to such Bonds have been
heard and it is deemed to be in the best interests of the City
that said Bonds be issued as proposed ; and
NOW, THEREFORE, Be It Resolved by the City Council of the
City of Waterloo, Iowa , as follows :
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Section 1. That it is hereby determined that it is neces-
sary and advisable that the City proceed with the issuance of
its Industrial Development Revenue Bonds (Conway Plaza
Development Co. Project) Series 1982 in an amount not to exceed
$2, 000 , 000 all as authorized and permitted by the Act , and to
loan the proceeds of the sale of the Bonds to the Company, all
upon terms and conditions mutually satisfactory to the City and
the Company.
Section 2 . That at the public hearing conducted by this
Council , pursuant to published notice , all persons who appeared
were given an opportunity to express their views for or against
the proposal to issue said Bonds and it is hereby determined
that any and all objections to the issuance of the said Bonds,
are hereby overruled .
Section 3 . That this Council shall proceed with the
necessary proceedings relating to the issuance of said Bonds
upon reasonable advance notice from the Company that
satisfactory financing terms have been agreed upon with the
proposed purchasers and the required documentation has been
prepared by Bond Counsel , and approved by all other parties ,
including the City Attorney of said City.
Section 4 . That said Bonds , if issued , and the interest
thereon, will be payable solely out of the revenues derived
from the financing of said Project and shall never constitute
an indebtedness of the City within the meaning of any state
constitutional provision, or statutory limitation , and shall
not constitute nor give rise to a pecuniary liability of the
City or a charge against its general credit or taxing powers.
Section 5. All Resolutions and Orders or parts thereof, in
conflict herewith are , to the extent of such conflict , hereby
repealed and this Resolution shall be in full force and effect
immediately upon its adoption.
Adopted and approved this 18th day of January, 1982.
City of Waterloo, Io a
(Seal )
J ck Roehr, ayor Pro Tem
Attest:
k.
-La y Burger , C. Clerk
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CLERK'S CERTIFICATE
I , Larry P. Burger , being first duly sworn do hereby depose
and certify that I am the duly appointed , qualified , and acting
City Clerk of the City of Waterloo , in the County of Black
Hawk, State of Iowa ; 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 showing
the action taken by the City Council of said City at a meeting
open to the public on January 18 , 1982 , holding a public
hearing and approving the issuance of not to exceed $2 , 000 , 000
aggregate principal amount of Industrial Development Revenue
Bonds ( Conway Plaza Development Co. Project) Series 1982 , of
the City of Waterloo , Iowa; that said proceedings remain in
full force and effect and have not been amended or rescinded in
any way; that said meeting and all action thereat was duly and
publicly held , with members of the public in attendance , 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 ( a copy of the
face sheet of said agenda being attached hereto ) pursuant to
the local rules of the Council and the provisions of Chapter
28A, Iowa Code , and upon reasonable advance notice to the
public and media at least twenty-four hours prior to the
commencement of the meeting as required by said law.
Witness my hand and the Corporate Seal of said City hereto
affixed this day of January, 1982.- /Z7 7
1*
j
(Seal ) y P. Burger , Ci Clerk
State of Iowa )
SS. :
County of Black Hawk
Subscribed and sworn to before me this day, the date last
above written.
( Seal ) @COI
Notar Public
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(This Notice to be Posted )
NOTICE AND CALL OF COUNCIL MEETING
Governmental Body : The City Council of
Waterloo , Iowa .
Date of Meeting : January 18 , 1982
Time of Meeting : 7: 00 P.M.
Place of Meeting : Council Chambers
City Hall
Waterloo , Iowa
PUBLIC NOTICE IS HEREBY GIVEN that the above-mentioned
governmental body will meet at the date , time and place above
set out . The tentative agenda for said meeting is as follows :
1. Resolution Relating to the Holding of a
Public Hearing and Approving Proceeding With The
Issuance and Sale of Not To Exceed $2 , 000 , 000
Aggregate Principal Amount of Industrial
Development Revenue Bonds ( Conway Plaza Development
Co. Project) Series 1982 , of the City of Waterloo ,
Iowa .
2. Such additional matters as are set forth on
the additional page( s) attached hereto
( attach copy of agenda) .
This notice is given at the direction of the Mayor ,
pursuant to Chapter 28A, Iowa Code , as amended , and the local
rules of said governmental body.
0
La r P. $urger , C er of the
C ty g5/Waterloo , r wa
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