The URL can be used to link to this page

Home My WebLink About1981-517B-10.19.1981 Proceedings Fixing New Date for Hearing on Industrial Development Revenue Bonds Waterloo, Iowa October 19 1981 The City Council of Waterloo, Iowa, met in regular session on the 19 day of October 1981, at 7: 00 o' clock, p .m. , at the City Hall Council Chambers , in Waterloo, Iowa. The meeting was called to order and there were present Leo P. Rooff Mayor, in the chair, and the following named Council Members : Getty, Wilharm, Roehr, Dowie, Penaluna, Bowers and Burton. Absent: None Matters were discussed concerning the issuance of Industrial Development Revenue Bonds, Series 1981 (Keiper-Ilten Partnership Project) . It was determined that the public hearing previously scheduled for October 30, 1981, on the issuance of the aforementioned Bonds could not be held because of an error in publication of the notice of such hearing and that it was necessary to set a new hearing date. Whereupon, Council Member Dowie introduced a resolution entitled: "Resolution fixing a date for hearing on proposed Industrial Development Revenue Bonds, Series 1981 (Keiper-Ilten Partnership Project) " , and moved its adoption, seconded by Council Member Getty . After due consideration of the said resolution by the Council, the Mayor put the question upon the motion and the roll being called, the following named Council Members voted: Ayes : Getty, Wilharm, Roehr, Dowie, Penaluna, Bowers and Burton. Nays : None Absent: None Whereupon, the Mayor declared the said resolution duly adopted and approval was signed thereto. * * * * On motion and vote, the meeting adjourned. Mayor , Leo P. Roo f Attest: City Cler Larr -1 , Y Burger (Seal) ,/ BELIN, HA RIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA RES . NO. 1981-527 RESOLUTION Resolution fixing a date for hearing on proposed Industrial Development Revenue Bonds, Series 1981 (Keiper-Ilten Partnership Project) WHEREAS, the City of Waterloo, in the County of Black Hawk, State of Iowa (the "Issuer" ) , is an incorporated municipality authorized and empowered by the provisions of Chapter 419 of the .Code of Iowa, 1981, as amended (the "Act" ) to issue revenue bonds for the purpose of financing the cost of acquiring, by construction or purchase, land, buildings, improvements and equipment or any interest therein, suitable for the use of any industry or industries for the manufacturing, processing or assembling of any agricultural or manufactured products , or of any commercial enterprise engaged in storing, warehousing or distributing products of agriculture, mining or industry, or 'of a national, regional or divisional headquarters facility of a company that does multistate business; and WHEREAS, the Issuer has been requested by Keiper-Ilten Partnership (the "Company" ) , an Iowa partnership, to issue its revenue bonds to finance the cost of the acquisition by construction or purchase of land, buildings, equipment and improvements suitable for the rehabilitation and renovation of an existing commercial building for use as office space, retail space and other commercial space (the "Project" ) located within the Issuer, which will promote the welfare of the Issuer and its citizens; and WHEREAS, it is proposed to finance the cost of the Project through the issuance of Industrial Development Revenue Bonds, Series 1981 (Keiper-Ilten Partnership Project) of the Issuer in an aggregate principal amount not to exceed $1, 500, 000 (the "Bonds" ) and to loan said amount to the Company under a Loan Agreement between the Issuer and the Company the obligation of which will be sufficient to pay the principal of and redemption premium, if any, and interest on the Bonds as and when the same shall be due and payable; and WHEREAS, before the Bonds may be issued, it is necessary to conduct a public hearing on the proposal to issue the Bonds, all as required and provided for by Section 419.9 of the Act; and WHEREAS, at its meeting on October 16 , 1981, the Council set October 30, 1981, as the date for such hearing and because it has been determined that because of an error in publication of the notice of hearing, it is necessary that a new hearing date be set; NOW, THEREFORE, BE IT RESOLVED by the City Council of the Issuer, as follows : Section 1 . This Council shall meet at the City Hall Council Chambers in Waterloo, Iowa, on the 16th day of November 1981, at 7: 00 o' clock, p .m. , at which time and place a public hearing shall be held on the proposal to issue the Bonds referred to in the preamble hereof, 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 Bonds. -2- SELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA Section 2. The Clerk is hereby directed to give notice of intention to issue the Bonds, setting forth the amount and purpose thereof, the time when and place where the hearing will be held, by publication at least once not less than fifteen (15) days prior to the date fixed for the hearing, in the Waterloo Courier newspaper published and having a general circulation within the Issuer. The notice shall be in substantially the following form: -3- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA NOTICE OF INTENTION TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS SERIES 1981 (Keiper-Ilten Partnership Project) The City Council of the City of Waterloo, Iowa, (the "Issuer" ) will meet on the 16 day of November , 1981, at Council Chambers , in Waterloo, Iowa, at City Hall the _purpose of conductinga hearing on the proposal to 7: 00 o ' clock, p .m. , for Industrial Development Revenue Bonds, Series (Keiper-lltenssue Partnership Project) of the Issuer, in an aggregate principal amount not to exceed $1, 500, 000 (the "Bonds" ) , and to loan said amount to Keiper-Ilten Partnership (the "Company" ) , an Iowa partnership, for the purpose of defraying the cost, to that amount, of the acquisition by construction or purchase of land, buildings, equipment and improvements suitable for the rehabilitation and renovation of an existing commercial building for use as office space, retail space and other commercial space, to be located within the area of and consistent with the plan for the City of Waterloo Downtown Urban Renewal and Redevelopment Area. The Bonds, when issued, will be limited obligations and will not constitute general obligations of the Issuer nor will they be payable in any manner by taxation, but the Bonds will be payable solely and only from amounts received by the Issuer under a Loan Agreement between the Issuer and the Company, the obligation of which will be sufficient to pay the principal of and interest and redemption premium, if any, on the Bonds as and when the same shall become due. At the time and place fixed for said public hearing all local residents who appear will be given an opportunity to express their views for or against the proposal to issue the Bonds, and at the hearing or any adjournment thereof, the Issuer shall adopt a resolution determining whether or not to proceed with the issuance of the Bonds . By order of the City Council, this 19 day of October , 1981 . c_____--- , 2 ) -z/ t t Cl Larry P Burger -4- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA Section 3 . All resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved this 19 day of October , 1981. CZ*473:0 45:? --&4-1rff Mayor, Leo P. Roof Attest: -- City Cler] Larry P. rger (Seal) -5- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA State of Iowa County of Black Hawk SS: City of Waterloo I, the undersigned, do hereby certify that I am the duly appointed, qualified and acting City Clerk of the .aforementioned City, 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 the said official records and that the same constitutes a true and correct and complete copy of such official records showing the action taken by the Council of said City to set a date for a public hearing on the proposal to issue Industrial Development Revenue Bonds, Series 1981 (Keiper-Ilten Partnership Project) in an aggregate principal amount not to exceed $1, 500, 000. WITNESS my official signature and the seal of said City this 21 day of October , 1981. Cit Cler Larry P. ger (Seal) -6- ISELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA 1 . (Attach publisher ' s affidavit of publication of Notice of Intention to Issue Bonds) State of Iowa County of Black Hawk SS: City of Waterloo I , the undersigned, City Clerk of the aforementioned City, do hereby certify that I caused a notice, of which the printed slip annexed to the publisher ' s affidavit hereto attached is a true and complete copy, to be published in Waterloo Courier a legal newspaper, printed wholly in the English language, published in said City of Waterloo, Iowa, and of general circulation in Such City as evidenced by the said affidavit. WITNESS my hand and the seal of the aforementioned City hereto affixed this 26 day of October 1981 . fy � City Ier Larry P, ger (Seal) -7- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA