HomeMy WebLinkAbout1989-270-06.12.1989 The Mayor announced that this was the time for meeting on the
matter of the issuance of not to exceed $150, 000 of general
obligation bonds in order 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; a general corporate purpose; and that notice
of the proposal to issue said bonds and the right to petition for
an election had been published as provided by Section 384 . 26, of
the City Code of Iowa; and, the Mayor then asked the Clerk whether
any petition had been filed in the Clerk's Office, as contemplated
in Section 384 .26 of the City Code of Iowa, and the Clerk reported
that no such petition had been filed, requesting that the question
of issuing said bonds be submitted to the qualified electors of
the City.
Whereupon, the Mayor declared the hearing on the issuance of
said bonds to be closed.
Whereupon, Council Member Brown , introduced and
delivered to the Clerk the Resolution hereinafter set out entitled
"RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR
THE AUTHORIZATION AND ISSUANCE OF NOT TO EXCEED $150, 000 GENERAL
OBLIGATION BONDS" , and moved:
L77 that the Resolution be adopted.
_Li to ADJOURN and defer action on the Resolution and the
proposal to institute proceedings for the issuance of
bonds to the meeting to be held at o'clock
.M. on the day of , 1989, at
this place.
Council Member Dell seconded the motion. The
roll was called and the vote was,
AYES: Brown, Dell, Buck, Fox, Angel,
Wright, Budak
NAYS: none
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO, 1989-270
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL
ACTION FOR THE AUTHORIZATION AND ISSUANCE OF NOT TO
EXCEED $150, 000 GENERAL OBLIGATION BONDS
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA
WHEREAS, pursuant to notice published as required by law, the
Council has held a public meeting and hearing upon the proposal to
institute proceedings for the issuance of not to exceed $150, 000
General Obligation Bonds for a general corporate purpose, in order
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 no petition
was filed calling for a referendum thereon. The following action
is now considered to be in the best interests of the City and
residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA:
Section 1. That this Council does hereby institute
proceedings and take additional action for the authorization and
issuance in the manner required by law of not to exceed $150, 000
General Obligation Bonds for the foregoing general corporate
purpose.
Section 2 . The Clerk is authorized and directed to proceed on
behalf of the City with the sale of said bonds, to select a date
for the sale thereof, to cause to be prepared such notice and sale
information as may appear appropriate, to publish and distribute
the same on behalf of the City and this Council and otherwise to
take all action necessary to permit the sale of said bonds on a
basis favorable to the City and acceptable to the Council.
PASSED AND APPROVED this 12thday of June , 1989.
/.' tile,J7
Mayor Bernard/ . McKinle
>
ATTEST:
le k ry P. B ger
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AHLERS,COONEY,DORWEILER,HAYNIE,SMITH&ALLBEE
ATTORNEYS AT LAW DES MOINES,IOWA