HomeMy WebLinkAbout26427-07.23.1979 RESOLUTION NO. 2 6 4 2 7
RESOLUTION to fix a date of meeting at which
it is proposed to institute proceedings for
the issuance of $1,660,000Corporate Purpose
Bonds .
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 said City and
it is estimated that the cost of said paving and street improvements
aggregates $745,000 and these 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
WHEREAS it is necessary and for the best interest for
the City of Waterloo, Iowa, and its inhabitants that a certain
bridge be constructed in said City and the estimated cost of such
bridge construction is $30,000 and such construction 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 the City; and
WHEREAS it is necessary and for the best interests
of the City of Waterloo, Iowa, and its inhabitants that
certain traffic control devices be acquired and installed in
and for said City and the estimated cost of such traffic
control devices is $150,000 and the acquisition and installation
thereof constitutes 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
WHEREAS it is necessary and for the best interests of
the City of Waterloo, Iowa, and its inhabitants that parks already
owned by said City be improved and it is estimated that the cost
of such improvements will aggregate $100,000 and the improvement
of parks already owned constitutes an "essential corporate purpose"
within the meaning of Section 384.24 (3o) 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
WHEREAS it is necessary and for the best interests of
the City of Waterloo, Iowa, and its inhabitants that real and
personal property useful for the protection of property in said
City from the effects of flood waters be acquired, constructed
and improved and it is estimated that the cost thereof will
aggregate $635,000 and the acquisition, construction and improve-
ment of such property constitutes an "essential corporate purpose"
within the meaning of Section 384.24(31) 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
WHEREAS it is necessary to fix a date of meeting of this
City Council at which it is propsed to institute proceedings for
the issuance of Corporate Purpose Bonds of the City of Waterloo,
Iowa, in the aggregate amount of $1 ,660,000 to pay the cost of
the foregoing essential corporate purpose improvements and to give
notice thereof as required by Section 384.25 of the Code of Iowa,
1979, as amended; and
WHEREAS under the provisions of Section 384.28 of the
Code of Iowa, 1979, as amended, separate categories of essential
corporate purposes may be incorporated in a single notice of
intention to institute proceedings for the issuance of bonds;
NOW, THEREFORE, Be It Resolved by the City Council of
the City of Waterloo, Iowa as follows :
-2-
Section 1. That this Council meet at the Council Chambers
in the City Hall in said City on the 13th dayof
August , 1979, at
7 :00 o' clock P .M. , at which time and place proceedings will be
instituted and action taken for the issuance of $1,660,000 Corporate
Purpose Bonds to pay the cost of paving and other street improve-
ments to the amount of $745,000, bridge construction to the amount
of $30,000, traffic control devices to the amount of $150,000,
park improvements to the amount of $100,000 and flood protection
property to the amount of $635,000, all as referred to in the
preamble hereof.
Section 2. That the City Clerk is hereby directed to
give notice of the proposed action for the issuance of said bonds ,
setting forth the amount and purposes thereof and the time when
and the place where said meeting will be held, by publication at
least once not less than four (4 ) nor more than twenty (20) days
before the date of said meeting in the "Waterloo Daily Courier",
a newspaper published and having a general circulation within
said City. Said notice shall be in substantially the following
form:
NOTICE OF MEETING FOR THE ISSUANCE
OF CORPORATE PURPOSE BONDS
The City Council of the City of Waterloo, in Black Hawk
County, Iowa, will meet on the 13thday of August , 1979, at the
Council Chambers in the City Hall, Waterloo, Iowa, at 7 :00
o'clock P.M. , at which time and place proceedings will be instituted
and action taken for the issuance of $1 ,660,000 Corporate Purpose
Bonds of said City for the purpose of defraying the cost, to that
amount, of the following projects :
1 . The paving of certain streets and the construction of
other street improvements at an aggregate cost of $745,000.
2. The construction of a new bridge in said City at
an aggregate cost of $30,000.
—3—
3. The acquisition and installation of traffic control
devices in and for said City at an aggregate cost of $150,000.
4. The improvement of parks already owned by said City
at an aggregate cost of $100,000.
5. The acquisition, construction and improvement of
real and personal property useful for the protection of property
in said City from the effects of flood waters at an aggregate cost
of $635,000.
At the time and place fixed for said meeting, as set forth
above, the City Council of said City will receive oral or written
objections from any resident or property owner of the City.
By order of the City Council July 23 , 1979.
City Clerk
Section 3. That all resolutions or parts thereof in con-
flict herewith be and the same are hereby repealed and this resolu-
tion shall be effective forthwith upon its passage and approval .
Passed and approved July 23 , 1979.
Mayor
Attest:
City Clerk
Recorded July 24 , 1979.
City Clerk
-4-