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HomeMy WebLinkAbout1981-424-08.24.1981 Proceedings Fixing Date for Hearing Waterloo, Iowa August 24 , 1981 The City Council of Waterloo, Iowa, met in session on the 24 day of August , 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 . Whereupon, Council Member Bowers introduced a resolution entitled: "Resolution fixing a date for hearing on proposed Industrial Development Revenue Bonds, Series 1981 (Parrott & Wood Project) " , and moved its adoption, seconded by Council Member Dowie . 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 : Ci C k Larr . Burger (Sew -1- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA RES. NO. 1981-424 RESOLUTION Resolution fixing a date for hearing on proposed Industrial Development Revenue Bonds, Series 1981 (Parrott & Wood Project) WHEREAS, the City of Waterloo, Iowa, 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" ) and Chapter 404 of the Code of Iowa, 1981, as amended, to issue revenue bonds or notes 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 commercial enterprise or non-profit organization which this Council finds is consistent with a revitalization plan for a revitalization area which has been designated by the Issuer; and WHEREAS, the Issuer has established and designated a certain area within the Issuer as a revitalization area, known as the Waterloo Revitalization Area (the "Revitalization Area" ) , has adopted a revitalization plan therefore (the "Revitalization Plan" ) and has determined that the Project is within the Revitalization Area and is consistent with the Revitalization Plan; and WHEREAS, the Issuer has been requested by Iowa Funeral Management, Inc . an Iowa corporation d/b/a Parrott & Wood Funeral Home (the "Company" ) to issue its revenue bonds to finance the cost of the acquisition by construction or purchase of equipment and improvements suitable for use by the Company in the expansion and renovation of Parrott & Wood Funeral Home (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 (Parrott & Wood Project) of the Issuer in an aggregate principal amount not to exceed $300, 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; 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 14 day of September , 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- BELIN, 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 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 (Parrott & Wood Project) The City Council of the City of Waterloo, Iowa, (the "Issuer" ) will meet on the 14 day of September , 1981 , at City Hall Council Chambers , in Waterloo, Iowa, at 7 :00 o' clock, p .m. , for the purpose of conducting a public hearing on the proposal to issue Industrial Development Revenue Bonds, Series 1981 (Parrott & Wood Project) of the Issuer, in an aggregate principal amount not to exceed $300, 000 (the "Bonds" ) , and to loan said amount to Iowa Funeral Management, Inc . , an Iowa corporation d/b/a Parrott & Wood Funeral Home (the "Company" ) for the purpose of defraying the cost, to that amount, of the acquisition by construction or purchase of equipment and improvements suitable for use by the Company in the expansion and renovation of Parrott & Wood Funeral Home, located within the Waterloo Revitalization Area established and designated by the Issuer . 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 24 day of August 1981 . om Ci k , Lar 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 24 day of August , 1981 . Mayor , Leo P. Ro Attest • :c• Cle , La ry urger (Sealj -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 (Parrott & Wood Project) in an aggregate principal amount not to exceed $300, 000. WITNESS my official signature and the seal of said City this 26 day of August , 1981 . ity 17yr, Lar P Burger (Seal) ' -6- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA (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 31 day of August , 1981. Cit Cle , Larry' rger (Seal ) -7- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA Memorandum of Agreement Waterloo, Iowa August 24 , 1981 The City Council of Waterloo, Iowa, met in regular session on the 24 day of August , 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 relative to the financing of a project pursuant to Chapter 419 of the Code of Iowa. Whereupon, Council Member Bowers introduced a resolution entitled "A Resolution authorizing the execution of a Memorandum of Agreement with Iowa Funeral Management, Inc . , an Iowa corporation d/b/a Parrott & Wood Funeral Home" and moved its adoption; seconded by Council Member Getty . After due consideration of said resolution by the Council, the Mayor put the question on the motion and the roll being called, the following named Council Members voted: Ayes : Getty, Wilharm, Roehr , Dowie, Penaluna, Bowers and Burton. Nays : None • Whereupon, the Mayor declared said resolution duly adopted and approval was signed thereto. * * * * Upon motion and vote, the meeting adjourned. C2Z.L ./P,,,etir Mayor , Leo P. Roof Attest : C ' y , , Larry, , Burger (Seal''` -1- BELIN, HARRIS, HELMICK & HEARTNEY, LAWYERS, DES MOINES, IOWA