HomeMy WebLinkAbout1989-253-05.26.1989 Council Member Fox introduced the
following Resolution entitled "RESOLUTION FIXING DATE FOR A
MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$150, 000 OF GENERAL OBLIGATION BONDS AND PROVIDING FOR PUBLICATION
OF NOTICE THEREOF", and moved that the same be adopted. Council
Member Buck seconded the motion to adopt. The
roll was called and the vote was,
AYES: Dell, Buck, Fox, Angel
ABSENT: Wright, Budak, Brown
NAYS: none
Whereupon, the Mayor declared the resolution duly adopted as
follows: RESOLUTION NO. 1989-253
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$150, 000 OF GENERAL OBLIGATION BONDS (FOR A GENERAL
CORPORATE PURPOSE) AND PROVIDING FOR PUBLICATION
OF NOTICE THEREOF
WHEREAS, the City of Waterloo, Iowa, is in need of funds to
carry out a general corporate purpose project as hereinafter
described; and, it is deemed necessary that it should issue
general obligation bonds to the amount of not to exceed $150, 000
as authorized by Section 384 . 26 of the City Code of Iowa, for the
purpose of providing funds to pay costs thereof; and
WHEREAS, said City has a population in excess of 75, 000 and the
amount of said bond issue is not more than $150, 000. 00; and
WHEREAS, before said bonds may be issued, it is necessary to
comply with the provisions of Chapter 384 of the City Code of
Iowa, and to publish a notice of the proposal to issue such bonds
and the right to petition for an election;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA:
Section 1. That this Council meet in the Council Chambers,
City Hall, Waterloo, Iowa, at 7: 00 o'clock P .M. , on the 12th
day of June , 1989, for the purpose of taking action on
the matter of the issuance of not to exceed $150, 000 of General
Obligation Bonds, the proceeds of which bonds will be used to
provide funds to pay costs of the acquisition, construction,
reconstruction, enlargement, improvement and equipping of the 5
Sullivan Brothers Convention Center and city garages, including
Street Department and Central Garage improvements and shall bear
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
interest at a rate not exceeding the maximum specified in the
attached notice.
Section 2 . That the Clerk is hereby directed to cause at
least one publication to be made of a notice of said meeting in a
legal newspaper, printed wholly in the English language, published
at least once weekly, and having general circulation in said City,
said publication to be not less than ten clear days before the
date of said public meeting on the issuance of said bonds.
Section 3 . The notice of the proposed action to issue said
bonds shall be in substantially the following form:
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AHLERS,COONEY.DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, ON THE MATTER
OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$150, 000 PRINCIPAL AMOUNT OF GENERAL
OBLIGATION BONDS (FOR A GENERAL CORPORATE
PURPOSE) , AND HEARING ON ISSUANCE OF SAID BONDS
Public Notice is hereby given that the Council of the City of
Waterloo , Iowa, will hold a public hearing on the 12th day of
June , 1989, at 7 : 00 o'clock P .M. , in the Council
Chambers, City Hall, Waterloo, Iowa, at which meeting the Council
proposes to take action for the issuance of not to exceed $150, 000
of General Obligation Bonds, bearing interest at the rate of not
to exceed 12% per centum per annum, said bonds to be issued for
the purpose of providing funds to pay costs of the acquisition,
construction, reconstruction, enlargement, improvement and
equipping of the 5 Sullivan Brothers Convention Center and city
garages, including Street Department and Central Garage
improvements.
This Notice is given by order of the Council of the City of
Waterloo, Iowa, as provided by Section 384 . 26 of the City Code of
Iowa.
At any time before the date of said meeting, a petition,
asking that the question of issuing such bonds be submitted to the
legal voters of said City, may be filed with the Clerk of said
City in the manner provided by Section 362 . 4 of the City Code of
Iowa, pursuant to the provisions of Section 384 . 26 of the City
Code of Iowa.
Dated at Waterloo, Iowa, this 26th day of May
1989.
>
City Clerk of Waterloo, Iowa
Larry` P. Burger
(End of Notice)
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
PASSED AND APPROVED this 26th day of May , 1989.
e•J
Mayor
Bernard L. McKinley
ATTEST: /7
ry P. Burger
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA