HomeMy WebLinkAbout26996 RESOLUTION NO. 26996
RESOLUTION RELATING TO THE HOLDING OF A PUBLIC HEARING
AND APPROVING PROCEEDING WITH THE ISSUANCE AND SALE OF
NOT TO EXCEED $600, 000 AGGREGATE PRINCIPAL AMOUNT OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS (WARREN
TRANSPORT, INC. PROJECT) SERIES 1980, OF THE CITY OF
WATERLOO, IOWA.
WHEREAS, the City of Waterloo , a political subdivision of
the State of Iowa ( the "City" ) , is authorized by Chapter 419 of
the Iowa Code , as amended ( the "Act" ) , to issue revenue bonds
for the purpose of defraying the cost of acquiring ,
constructing , improving and equipping land , buildings and
improvements suitable for use in storing , warehousing and
distributing industrial products , and to loan the proceeds from
the sale of such revenue bonds, pursuant to a loan agreement,
to Warren Transport , Inc . , a Nebraska corporation , duly
qualified and authorized to do business in the State of Iowa
( hereinafter referred to as the "Company" ) , to be used for the
aforesaid purposes ; and
WHEREAS, the City has determined there is a public need in
the City and its surrounding environs for new industrial faci-
lities as proposed by the Company; and
WHEREAS, a notice of hearing on the proposal to issue not
to exceed $600, 000 aggregate principal amount of Industrial
Development Revenue Bonds (Warren Transport , Inc . Project)
Series 1980, of the City of Waterloo , Iowa , has been published
as required by law; and
WHEREAS, a public hearing has been held at the time and
place as specified in said notice of hearing and any and all
objections or other comments relating to such Bonds have been
heard and it is deemed to be in the best interests of the City
of Waterloo , Iowa , that said Bonds be issued as proposed; and
NOW, THEREFORE, Be It Resolved by the City Council of the
City of Waterloo , Iowa , as follows :
Section 1. That is is hereby determined that it is neces-
sary and advisable that the City proceed with the issuance of
its Industrial Development Revenue Bonds (Warren Transport ,
Inc . Project) Series 1980 (hereinafter referred to as the
" Bonds" ) , in an amount not to exceed $600, 000, as authorized
and permitted by the Act, and to loan the proceeds of the sale
of the Bonds to the Company, all upon terms and conditions
mutually satisfactory to the City and the Company.
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Section 2. That at the public hearing conducted by this
Council , pursuant to published notice , all persons who appeared
were given an opportunity to express their views for or against
the proposal to issue said Bonds and it is hereby determined
that any and all objections to the issuance of the said Bonds,
are hereby overruled .
Section 3. That this Council shall proceed with the
necessary proceedings relating to the issuance of said Bonds
upon reasonable advance notice from the Company that
satisfactory financing terms have been agreed upon with the
proposed purchasers and the required documentation has been
prepared by Bond Counsel , and approved by all other parties,
including the City Attorney of said City.
Section 4. That said Bonds, if issued , and the interest
thereon , will be payable solely out of the revenues derived
from the financing of said Project and shall never constitute
an indebtedness of the City of Waterloo , Iowa , within the
meaning of any state constitutional provision , or statutory
limitation, and shall not constitute nor give rise to a
pecuniary liability of said City of Waterloo , Iowa , or a charge
against its general credit or taxing powers .
Section 5. All Resolutions and Orders or parts thereof, in
conflict herewith are , to the extent of such conflict, hereby
repealed and this Resolution shall be in full force and effect
immediately upon its adoption.
Adopted and approved this 19th day of May, 1980.
City of Waterloo , Iowa
(Seal) AP
Leo P. Rooff , Ma, r
Attest :
Larry/. P. B er , City erk
i
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CLERK 'S CERTIFICATE
I, Larry P. Burger , being first duly sworn do hereby depose
and certify that I am the duly appointed , qualified , and acting
City Clerk of the City of Waterloo , in the County of Black
Hawk, State of Iowa ; 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 showing
the action taken by the City Council of said City at a meeting
open to the public on May 19, 1980, holding a public hearing
and approving the issuance of not to exceed $600, 000 aggregate
principal amount of Industrial Development Revenue Bonds
(Warren Transport, Inc . Project) Series 1980, of the City of
Waterloo, Iowa ; that said proceedings remain in full force and
effect and have not been amended or rescinded in any way; that
said meeting and all action thereat was duly and publicly held ,
with members of the public in attendance , in accordance with a
notice of meeting and tentative agenda, a copy of which was
timely served on each member of the Council and posted on a
bulletin board or other prominent place easily accessible to
the public and clearly designated for that purpose at the
principal office of the Council (a copy of the face sheet of
said agenda being attached hereto) pursuant to the local rules
of the Council and the provisions of Chapter 28A, Iowa Code,
and upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the
meeting as required by said law.
Witness my hand al-id the Corporate Seal of said City hereto
affixed this �' -, day of May, 1980.
(Seal) Lar P. rger , C' Clerk
State of Iowa
SS. :
County of Black Hawk
Subscribed and sworn to before me this day, the date last
above written. (3.56.31-eQ
(Seal ) Nota y Public b
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