HomeMy WebLinkAbout26858 RESOLUTION NO. 26858
RESOLUTION REGARDING ISSUANCE OF INDUSTRIAL REVENUE BONDS IN THE DOWNTOWN
WHEREAS, the City of Waterloo has undertaken an intensive planning effort
for its downtown area through a joint effort of the City Planning Department and
Communication Network Systems, and,
WHEREAS, Phase I of the Downtown '80's Plan, which includes a detailed
design concept for area bounded by and adjacent to Park Avenue, Mulberry Street,
Sixth Street and Jefferson Street, and,
WHEREAS, the City has the ability to issue Industrial Revenue Bonds in
accordance with Chapter 419, Code of Iowa, as amended on July 1 , 1979, and,
WHEREAS, the City has certain legislative control over the issuance of said
bonds, and
WHEREAS, the control of the issuance of said bonds can be used as a mechanism
to implement the design concept for the downtown area,
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Waterloo, Iowa
that this authority to issue Industrial Revenue Bonds should be exercised in a
manner which promotes the design concepts proposed by the Downtown 80's Plan, and
BE IT FURTHER RESOLVED, that requests for the use of Industrial Revenue Bonds in
the Downtown Area as described above be reviewed for consistency with the philosophy of
the Downtown 80's Plan by the City Plan and Program Commission and its staff, prior
to the time that the Memorandum of Agreement be entered into for any project proposed
to be funded by Industrial Revenue Bonds; and
BE IT FURTHER RESOLVED, that said review is for the purposes of determining
conformity to the plan only and that the responsibility for evaluating the
appropriateness of the use of Industrial Revenue Bonds remains solely with the
City Council .
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PASSED AND ADOPTED this 10th day of March 1980.
THE CITY OF WATERLOO, IOWA
BY: <10:_if,42 ._67 .
Leo P. Rooff, Mayor
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CERTIFICATE
We, Leo P. Rooff, Mayor and
City Clerk of the City of Waterloo, Iowa, do hereby certify that the foregoing is
a true and correct copy of Resolution No. 26858 adopted by the City Council
of the City of Waterloo, Iowa, on the date thereon indicated.
61.
Leo P. Rooff, Mayor
City Cler