HomeMy WebLinkAbout1981-477-09.21.1981 REFILED TO CORRECT TYPOGRAPHICAL ERROR
RESOLUTION NO. /98(- 477
RESOLUTION FIXING A DATE FOR HEARING ON PRO-
POSED INDUSTRIAL REVENUE BONDS, SERIES 1981
(ADVANCED HEAT TREAT CORP. PROJECT)
***************
WHEREAS, The City of Waterloo, a municipality and political subdivision
in the State of Iowa (the "City") is authorized by Chapter 419 of the Code of
Iowa, 1981 , as amended (hereinafter sometimes referred to as the "Act") to
issue revenue bonds and loan the proceeds to one or more contracting parties
to be used to pay the cost of land, buildings and improvements suitable for
the use of any industry for the manufacturing, processing or assembling of
manufactured products; and
WHEREAS, the City proposes to make the necessary arrangements with
Advanced Heat Treat Corp. (the "Corporation") , an Iowa corporation, for the
financing (as hereinafter described) of acquiring, improving and equipping
certain real estate, buildings and fixtures at the Corporation's place of
business to be located in the City (hereinafter sometimes referred to as the
"Project") ; and
WHEREAS, the location of this Project within the City will improve the
general welfare of the inhabitants of the City and provide increased employ-
ments opportunities; and
WHEREAS, in order to expedite the anticipated public benefits and avoid
delays which would otherwise occur pending the completion of the procedures
necessary to be carried out by the City to make the required funds available,
and to enable the Corporation to proceed with and complete the Project, it is
considered necessary and desirable that the City provide satisfactory assur-
ances that the proceeds of the sale of the proposed industrial revenue bonds,
when issued, will be made available to finance the Project; and
BOOK 243 PAGE 76 BOOK 242 PAGE 704
WHEREAS, it is deemed necessary and advisable for the promotion of the
general welfare of the inhabitants of the City and increased employment
opportunities , that the facilities be acquired, improved and equipped, as
aforesaid, and that the City take such action as may be required under appli-
cable statutory provisions to authorize and issue the Series 1981 Bonds, as
hereinafter defined, to finance the cost of the Project; and
WHEREAS, the aggregate cost of the Project has been estimated not to
exceed $400,000, _id it is proposed to pay the cost of the Project, to that
amount, through the issuance of the Industrial Revenue Bonds, Series 1981
(Advanced Heat Treat Corp. Project) (the "Series 1981 Bonds") but it is first
necessary to conduct a public hearing on the proposal to issue the Series 1981
Bonds, as required and provided by Section 419.9 of the Act;
NOW, THEREFORE, Be It Resolved by the City Council of the City of
Waterloo, Iowa, as follows:
at West High School
Section 1 . That this Council meet ixxxxxkxxxilualoporzximubtxxklioill
in Waterloo, Iowa, on the 12th day of October, 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 Series 1981 Bonds in an amount currently estimated not to exceed
$400,000, 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 1981 Bonds.
Section 2. The City Clerk is hereby directed to give notice of inten-
81
tion to issue the Series 19 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:
-2-
BOOK 243 PAGE BOOK 242 PAGE 705
•
NOTICE OF INTENTION TO ISSUE
INDUSTRIAL REVENUE BONDS
The City Council of the City of Waterloo, Iowa, will meet on the 12th
at West High School
day of October, 1931 � X
' i xx 1 , Waterloo, Iowa, at
7:00 o'clock, P.M. , fur the purpose of conducting a public hearing on the
proposal to issue Industrial Revenue Bonds, Series 1931 (Advanced Heat Treat
Corp. Project) of. said City, in principal amount not exceeding $400,000, for
the purpose of loaning the proceeds thereof to Advanced Heat Treat Corp. to
defray the cost, to° that amount, of acquiring, improving and equipping certain
real estate, buildings and fixtures by said Corporation to be located in the
City. These bonds , when issued, will be limited obligations and will not
constitute general obligations of said City nor will they be payable in any
manner by taxation, but said bonds will be payable solely and only out of the
revenues to be derived by said City from a Loan Agreement, Mortgage and
Security Agreement between said City and said Corporation.
At the time and place fixed for said public hearing, all local resi-
dents who appear will be given an opportunity to express their views for or
against the proposal to issue said bonds.
By order of the City Council 'of the City of Waterloo, Iowa , September
21 , 1981 .
/ i t erk, Larr .. Burger
/
Section 3. That the City hereby recogni s that actions taken and to
be taken by the Corporation in connection with acquiring, improving and equip-
ping the Project have been and will be taken in .reliance upon the willingness
of the City to issue the Series 1981 Bonds.
BOOK 243 PACE !g BOOK 242 PAGE 7 6
Section 4. 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 end approval .
Passed and approved September 21 , 1981 .
Jac Roehr, May r fro Tem
ATTEST:
-
y , erk , 16-rr P. Burger
Recorded September 21 , 1981 .
271
Irs x COMPARED1-4
a �9„1_, �Z �
PAGED "�— 6 519 C."ty Clerk
BLACK HAWK COUNTY, IOWA:SS
Filed for record 6,kt, 1119 g I %�Zw 5591
p AR:J
Originally recorded INDEX�7')`�°at 3.Q5 f.M, and recorded in in Book 242 COMP BLACK HAWK COUNTY, IOWA:SS
`29-7 Q.e Book a z/3 Page 704 of PAGED,1 j Filed for record YL t) 13 19,�,
Miscellaneous 1j
Page records in Black Hawk at? .O 1 rr M, and recorded in
CP • • County, Iowa. `rizca.G • Book .M
Page 7 6 s
Recorder
Deputy
Fee, 1 a.aD
Recorder
Ic.a - Beecher. Beecher, Holmes, & "athert Deputy
(+;} C QqWAJY\ AA.Q.J3DQQ943L30.)
, Fee 01.00
G 010 3
Certificate
I, .1,.,:.r r-r 9 R. ••lA•c r , City Clerk X the City Waterloo, Iowa, do hereby I � certify
that attached hereto is a true and complete copy
passed and adopted by the Council of the City of Waterloo, Iowa, on the 2.) day of SWI .CCO b u.r
Witness 1111Cylliand ax14:1 Seal of Office this / ........ day of ...At. , 19 E I
SEAL
//2
BOOK 242 PAGE 707 City Clerk
BOOK 243 PACE 79