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��'�+ 3 � 5 i RESOLUTION NO 27111
x,, w`, RESOLUTION initiating proceedings for
• ,rthe issuance of $2,530,000 Corporate
F` `, ,. Purpose Bonds of the City of Waterloo,
" Iowa.
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WHEREAS it is necessary and for the best interest of
i '� the City of Waterloo, Iowa, and its inhabitants that the fire
° " department of said City be equipped and the estimated cost of ` .
1K ` such equipping is $160,000 and the equipping of said fire depart-
meat constitutes an "essential corporate purpose" within the
�. meaning of Section 384.24(3j) of the Code of Iowa, 1979, as
,�•,_ _ amended, and.. it is' proposed that the cost thereof be. paid through
' the issuance of General Obligation Bonds of said City; and"
WHEREAS it is necessary and for the best interest of ' .
the City of Waterloo, Iowa, and its inhabitants that certain .
bridges and approaches theretobe acquired, reconstructed„ ' Improved
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and repaired in and for said City and the estimated cost of such
bridges and approaches is $295,000 •and such acquisition, recon-
struction, improvement and repair constitutes an "essential
corporate purpose" within the meaning of Section 384.24(3e) of
the Code of Iowa, 1979, as amended, and it is proposed that the
cost thereof be paid through the issuance of General Obligation
Bonds of said City; and
' WHEREAS it is necessary and for the best interest of
the City of Waterloo, Iowa, and its inhabitants that certain
streets be paved and other street improvements be constructed in
paid City and it is estimated that the cost of said paving and
street improvements is $1,900,000 and such improvements constitute
an "essential corporate purpose" within the meaning of Section
384,24(3a) of the Code of Iowa, 1979, as amended, and it is
proposed that the cost thereof be paid through the issuance of
General Obligation Bonds of the City; and
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W, EREAS it is necessary and for the best interest of
the City of .Waterloo, Iowa, and; its inhabitants that works and
facilities •useful for the collection, treatment and disposal of
sewage and industrial waste in a sanitary manner be `acquired,
constructed, reconstructed, extended, improved and equipped and
the estimated cost of such works and facilities is $50;000 and
such acquisition, construction, reconstruction, extension,
improvement and equipping constitutes an "essential corporate
purpose" within the meaning of Section 384.24(3d) of the Code of
Iowa, 1979, as amended, and it is proposed that the cost thereof
be paid through the issuance of General obligation Bonds of said
City; and
WHEREAS it is necessary and for the best interest of
the City of Waterloo, Iowa and its inhabitants that works and
facilities useful for the collection and disposal of surface
waters and streams be acquired, constructed, reconstructed,
extended, improved and equipped and the estimated cost of such
works and facilities is $50,000 and such acquisition, construction,
reconstruction, extension, improvement and equipping constitutes
an "essential corporate purpose" within the meaning of Section
384.24(3d) of the Code of Iowa, 1979, as amended, and '-it is
proposed that the cost thereof be paid through the issuance ' of
General Obligation Bonds of said City; and
WHEREAS the City of Waterloo , Iowa has established
a transit system in and for said City; and
WHEREAS said transit system constitutes a "city enter-
prise" within the meaning of Section 384. 24 of the Code of Iowa,
1979, , as amended; and
WHEREAS it is necessary and for the best interest of the
City of Waterloo, Iowa, and its inhabitants that said transit system
he unproved and equipped; and
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WHEREAS the improvement and equipping of said transit
• ' , • . ..
syatem constitutes a "general corporate purpose" within the meaning .
of Section 384,24(4a) of the Cope' of Iowa, 1979, as amended; and -
WHEREAS it is estimated that the cost of improving
,. .
. ,
and equipping said transit system aggregates $75 000 aincl.lt la ' '
proposed that the coat thereof be paid through the issuance of
.
General Obligation Bonds of the City; and . -' - ' • ',' . • ' '
. . .
WHEREAS the City of Waterloo, Iowa is a city having a ' • ' .:;-.`r,,‘;'`..' :- . . •
6'7,..:- .... .: .,. population of more than five thousand and the amount of General
Obligation Bonds of the City proposed to be issued to finance . . ....,. ' the cost of improving and equipping said transit system is not - :
more than $75,000; and , . , . -'' ,. . .
- ,. ..
WHEREAS under the provisions of Section 384.28 of the
.., j:-..' Code of Iowa, 1979, as amended, any number of essential corporate
.".
'... ' purposes or general corporate purposes may be incorporated in a -
... single issue of bonds and authorized pursuant to a single resolu- ' .
t , - tion of the City Council; and ' . . . .
WHEREAS a notice of the intention of this City Council
to take action for 'the issuance of $2,455,000 Corporate Purpose
-Bonds to pay the cost of. equipping the fire department at an
aggregate cost of $160,000, acquiring, reconstructing, improving
..,
and repairing certain bridges and approaches thereto at an
aggregate cost of $295,000, paving certain streets and con, '
atructing other street improvements at an aggregate cost of t
.,- - $1,900,000, acquiring, constructing, reconstructing, extending,
. .
improving and equipping works and facilities useful for the
collection, treatment and disposal of sewage and industrial
.
, waste in a sanitary manner at an aggregate cost of $50,000 and
-, -- acquiring, constructing, reconstructing, extending, iniproving .
and equipping works and facilities useful for the collection
. '. .. and disposal of surface waters at an aggregate cost of $50,000
. . .
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1y.�&'d�R 27 1 J
Wx has heretofore, been duly pub],ished,. and a public hearing has
been held on the issuance of said Corporate Purpose Bonds and
no oral or written objections have been filed or made; and
WHEREAS a notice of the intention of the City Council
to take action for the issuance of $75,000 Corporate Purpose Bonds -
to pay the cost of improving said transit system has heretofore
been duly ,
published, and a public hearing has been held on the
',. F� issuance of said Corporate Purpose Bonds and no
petition has '
been filed and no oral or written objections have been filed
or made;
' NOW, THEREFORE, Be It Resolved by the City Council of •
the City of Waterloo, Iowa, as follows:
{ Section 1. That the City Clerk be and he is hereby
. authorized and instructed to arrange for the preparation of a '
form of resolution authorizing the issuance of these bonds,
incorporating all of the separate categories of essential
corporate purposes and the general
corporatepurpose into
single issue of Corporate Purpose Bonds in the aggregate principal
amount of $2,530,000, and providing for the levy of taxes to
pay the same.
Section 2. That this hearing on the issuance of said
k bonds be and the same is hereby adjourned to the 2lst day of
July , 1980 at 7 otdlock P .M. , at the Council Chambers
•
in the City Hall in said City, at which time and place said
form of resolution shall be presented to this Council for
a action thereon in connection with the issuance of these bonds.
Section 3. That all resolutions or parts thereof in
conflict herewith be and the same are hereby repealed and this
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