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HomeMy WebLinkAbout1989-601-11.13.1989 Hof Waterloo, Iowa November 13 , 1989 The City Council for the City of Waterloo, Iowa, met in regular session at 7: 00 o 'clock P.M. , at the Council Chambers in the City Hall in said City. The meeting was called to order and there were present Bernard L. Mc (inley , Mayor, and the following named Councilmembers : Dell, Buck, Fox, Angel, Wright, Budak Absent : Brown * * * * * * * * The Mayor introduced and caused to be read Resolution No. 1989- 601 entitled, "RESOLUTION fixing a date for hearing on proposed Industrial Development Revenue Refunding Bonds (Conway Buck Plaza Project) , Series 1989" , and moved its adoption; seconded by Councilmember Wright After due consideration of said resolution by the Council, the Mayor put the question and, upon the roll being called, the following voted: Aye: Dell, Buck, Fox, Angel, Wright, Budak Nay: None Whereupon, the Mayor declared said resolution duly adopted and signed his approval thereto . * * * * * * * * On motion and vote the meeting adjourned. Mayor Bernard L. McKinley Attest : 1 ty ler arry P. urger 2964e -2- RESOLUTION NO. 1989- 601 RESOLUTION FIXING A DATE FOR HEARING ON PROPOSED INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS, SERIES 1989 (CONWAY PLAZA PROJECT) , NOT TO EXCEED $1, 250, 000 * * * * * * * * WHEREAS, the City of Waterloo, a municipality and political subdivision in the County of Blackhawk, State of Iowa (the "City") is authorized by Chapter 419 of the Code of Iowa, as amended (hereinafter sometimes referred to as the "Act" ) to issue revenue bonds to refund bonds issued under the Act; and WHEREAS, the City has heretofore issued its $1, 250, 000 Industrial Development Revenue Bonds (Conway Plaza Development Company Project) , Series 1984 (the "Prior Bonds") for retail and office facilities (the "Project") owned by Conway Plaza Development Company. WHEREAS, Conway Plaza Development Company has requested that the City issue new bonds to refund the Prior Bonds in order to achieve lower interest costs . WHEREAS, the amount needed to refund the Prior Bonds has been estimated at not to exceed $1, 250, 000 which can be provided by the issuance of Industrial Development Revenue Refunding Bonds (Conway Plaza Project) Series 1989 (the "Series 1989 Bonds" ) , but it is first necessary to conduc 3 public hearing on the proposal to issue the Series 1989 bonds , as required and provided by Section 419 . 9 of the Act; -3- NOW THEREFORE, Be It Resolved by the City Council of the City of Waterloo, Iowa, as follows : Section 1. That this Council meet at the Council Chambers in the City Hall in said City on the 4th day of December, 1989 , at 7: 00 o ' clock P.M. , at which time and place public hearing shall be held on the proposal to issue the Series 1989 Bonds in an amount currently estimated not to exceed $1, 250, 000 as referred to in the preamble hereof, and at which hearing all local residents who appear shall be given an opportunity to express their views for or against the proposal to issue the Series 1989 Bonds . Section 2 . The City Clerk is hereby directed to give notice of intention to issue the Series 1989 Bonds by publication at least once not less than fifteen (15) days prior to the date fixed for the hearing in the Waterloo Courier, a legal newspaper published and having a general circulation within said City, in substantially the following form: -4- NOTICE OF PUBLIC HEARING ON INDUSTRIAL DEVELOPMENT REVENUE BOND PROJECT NOTICE IS HEREBY GIVEN that the City Council of the City of Waterloo, in Blackhawk County, Iowa, will meet at 7: 00 o ' clock P.M. on Monday, the 4th day of December, 1989 , at the Council Chambers in the City Hall for the purposes of conducting a public hearing on the proposed issuance by the City of Industrial Development Revenue Refunding Bonds (Conway Plaza Project) , Series 1989 , pursuant to Chapter 419, Code of Iowa, for the purpose of refunding the City' s outstanding $1, 250, 000 Industrial Development Revenue Bonds (Conway Plaza Development Company Project) , Series 1984 . The type and use of the facilities financed by the 1984 bonds is the construction of a retail and office facility. The maximum aggregate amount of obligations to be issued is $1, 250, 000 . The owner and operator of the facility is Conway Plaza Development Company, a general partnership (the "Partnership" ) . The location of the facilities is 500 Commercial Street in the City of Waterloo . The Series 1989 Bonds , when issued, will be limited obligations and will not constitute a general obligation of the City nor will they be payable in any manner by taxation, but said bonds will be payable solely and only out of the revenues -5- to be derived by the City from a Loan Agreement between the City and the Partnership. All persons with views on the Series 1989 Bonds to be issued may express their views, both orally and in writing, at such time and place. Dated: November 6, 1989 BY ORDER OF THE CITY COUNCIL Larry P. Burger City Clerk City of Waterloo, Iowa -6- Section 3 . That all resolutions or parts thereof in conflict herewith be and the same are hereby repealed, and this resolution shall be effective forthwith upon its passage and approval . Passed and approved November 13 , 1989 J / J2-7 Mayor Bernard L. McKinley Attest: Ci y Cl Larry Burger -7- STATE OF IOWA ) )SS. COUNTY OF BLACKHAWK ) 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 Blackhawk County, Iowa, and that as such I have in my possession or have access to the official records of said City and of its officials and that I have compared the transcript hereto attached with said official records and that the same constitutes a true, correct and complete copy of such official records showing the action taken by the City Council of said City on November 13 , 1989 , to fix a date for a public hearing on the proposal to issue not to exceed $1, 250, 000 Industrial Development Revenue Refunding Bonds (Conway Plaza Project) , Series 1989 , of said City. WITNESS my official signature and the seal of said City at Waterloo, Iowa, this 15tIJay of November, 1989 . J /_/40/ wit Cle Larry P. Burger ' (SEAL) %/ Subscribed and sworn to before me this day, the date last above written. /61;4 Notary Puilic in and for the State of ✓Iowa (Notarial Seal) 2964e -8-