HomeMy WebLinkAbout1982-292-07.06.1982 Aye: Wilharm, Roehr, Getty, Dowie, Burton and Bowers .
Absent: Penaluna
Nay: None
Whereupon, the Mayor declared said resolution duly adopted and signed
his approval thereto.
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Upon motion and vote, the meeting adjourned.
Mayor
Attest: Leo P. Roof
) /t..)
/
Ci Clerk
Larry,' . Burger ../
RESOLUTION NO. 1982-292
RESOLUTION DETERMINING TO PROCEED WITH THE
ISSUANCE OF NOT TO EXCEED $210,000
URBAN REVITALIZATION AREA REVENUE BONDS, SERIES 1982
(SUPERIOR WELDING PROJECT)
OF THE CITY OF WATERLOO, IOWA.
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WHEREAS, the City of Waterloo, in the County of Black Hawk, State of
Iowa, (the "City") , proposes to issue Urban Revitalization Area Revenue Bonds,
Series 1982 (Superior Welding Project) , of said City in a principal amount not
to exceed $210,000 (the "Series 1982 Bonds") for the purpose of lending the
proceeds thereof to Superior Welding Supply Co. (the "Corporation") to defray
the cost, to that amount, of the acquisition of certain equipment and improve-
ments (the "Project") by the Corporation suitable for use as office, sales
area, site preparation, parking lot and loading dock as leasehold improvements
located within the Washington Urban Revitalization Plan located within the
City, all in accordance with the provision of Chapter 419 of the Code of Iowa,
1981 , as amended (the "Act"); and
WHEREAS, pursuant to published notice of intention this City Council
has conducted a public hearing, as required by Section 419.9 of the Act, and
this City Council deems it necessary and advisable to proceed with the Pro-
ject, the issuance of the Bonds, and the loan of the proceeds of the Series
1982 Bonds to the Corporation;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA, AS FOLLOWS:
Section 1 . That at the public hearing conducted by this City Council
pursuant to published notice all local residents who appeared were given an
opportunity to express their views for or against the proposal to issue the
Series 1982 Bonds.
Section 2. That this City Council deems it necessary and advisable,
and hereby determines, to proceed with the Project, the issuance of the Series
1982 Bonds, and the loan of the proceeds of the Series 1982 Bonds to the
Corporation, all upon terms and conditions mutually satisfactory to the City
and the Corporation.
Section 3. The Project is within the Washington Urban Revitalization
Area and is consistent with the plan for that Area.
Section 4. That this Resolution shall become effective immediately
upon its passage and approval .
Passed and approved July 6, 1982.
Mayor
Leo P. Roof
Attest:
City ,!( 1 erk
Larry P. Burger /
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, and 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 Resolution No. 1982-292
entitled:
RESOLUTION determining to proceed with the issuance of not
to exceed $210,000 Urban Revitalization Area Revenue Bonds, .
Series 1982 (Superior Welding Project) of the City of
Waterloo, Iowa.
WITNESS my hand and the corporate seal of said City hereto affixed at
Waterloo, Iowa, this 7 day of July, 1982.
City Clerk
(SEAL) Larry P . Burger
STATE OF IOWA )
) ss.
COUNTY OF BLACK HAWK )
Subscribed and sworn to before me this day, the date last above written.
Notary Public in and for t e State of Iowa
My commission expires: ` 3o /9 8 2—
(Notarial Seal )