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RESOLUTION 26906
Resolution to Proceed with the Issuance and Sale
of Industrial Development Revenue Bonds
Series 1980 (Hellman Design Associates Project )
in an aggregate principal amount not to exceed $1,000,000"
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,
1979, 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 Hellman Design
Associates, Inca (the "Company") , an Iowa corporation, to issue its
industrial development revenue bonds to finance the Company' s
,acquisition by purchase of land, buildings and construction of
additional improvements and equipment suitable for use as a graphic
design studio engaged in processing and distributing artistic products
for industrial and commercial use (the "Project") to be located within
the Issuer, which will employ substantial numbers of people from and
near the Issuer with the resulting increased employment, substantial
payrolls and other public benefits flowing therefrom; and
WHEREAS, it is proposed to finance the cost of the Project through
the issuance of Industrial Development Revenue Bonds, Series 1980
(Hellman Design Associates Project) of the Issuer in an aggregate
principal amount not to exceed $1,000,000 (the "Bonds") and to loan
4, 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 interest and redemption premium, if any, on the Bonds,
as and when the same shall be due; and
WHEREAS, notice of intention to issue the Bonds has, as directed
by the City Council of the Issuer, been duly given in compliance with
the Act; and
WHEREAS, a public hearing has been held on the proposal to issue
the Bonds at the time and place as specified in said notice and all
objections or other comments relating to the issuance of the Bonds have
been heard;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the Issuer,
as follows:
SEtIN HARRIS. HELMICK & LOVR,EN, LAWYERS, DES MOINES, IO141A
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Section 1. It is hereby determined it is necessary and advisable
that the Issuer proceed with the issuance and sale of the Bonds as
authorized and permitted by the Act to finance the cost of the Project,
and such actions will be taken by the Issuer as may be required
pursuant to the provisions of the Act to authorize, issue and sell the
Bonds.
Section 2. The Issuer will enter into all agreements necessary to
be entered into by the Issuer in connection with the issuance and sale
of the Bonds. The City Attorney shall approve all agreements to be
; entered into in connection with the issuance of the Bonds and such
agreements shall be authorized and approved after due consideration by
this Council prior to their execution by the Issuer.
Section 3. The Mayor, the City Clerk and the City Attorney are
--her-eby authorized and -directed to do -any and all things deemed
necessary in order to effect the accomplishment of the Project and the
issuance and sale of the Bonds. R
Section 4. All resolutions and parts thereof in conflict herewith
are hereby repealed to the extent of such conflict.
Section 5. This Resolution shall become effective immediately
upon its passage and approval .
Passed and approved this 7th day of April ., 1980,
Mayor
.Attest:
ity Jerk/7
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(Seal
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BEL'IN. HARRIS, HELMICK & LOVRIEN, LAWYERS, DES MOINES. IO VA
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State of Iowa
County of Black Hawk SS: •
City of Waterloo
I, the undersigned, do hereby depose and 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
complete corporate records of said City and of its Council and
officers; that I .have carefully compared the transcript hereto attached
with the aforesaid corporate records; and that said transcript hereto
attached is a true, correct and complete copy of all the corporate
records in relation to the adoption of the Resolution to Proceed with
the Issuance and Sale of Industrial Development Revenue Bonds, Series
1980 (Hellman Design Associates Project) in an aggregate principal
amount not to exceed $1,000,000.
WITNESS my hand and the corporate seal of said City hereto affixed
this 7th day of April 1980.
City Clerk
,(Seal)
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SELIN. HARRIS. HELMICK & LOVRIEN. LAWYERS, DES MOINES. IOWA