HomeMy WebLinkAbout26473-08.27.1979 whereupoii Council Mem-be-L trto used L
• owing Resolution and moved for its adoption . Council
Memb- seconded the motion to adop . The
roll wa alled and the vote was,
AYES:
NAYS:
03 follow907.
RESOLUTION NO. , cc`-03
RESOLUTION APPROVING PROCEEDING WITH THE
ISSUANCE AND SALE OF NOT TO EXCEED $500, 000
OF INDUSTRIAL DEVELOPMENT REVENUE BONDS
(KIRK GROSS COMPANY PROJECT) SERIES 1979
WHEREAS, notice of hearing on the proposal to issue not to
exceed $500, 000 aggregate principal amount of Industrial
Development Revenue Bonds (Kirk Gross Company Project) Series
1979 of the City of Waterloo, Iowa, pursuant to the provisions
of Chapter 419, Code of 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 further action be taken in connection
with the proposed issuance of said Bonds :
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, AS FOLLOWS:
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AHLERS, GOONEY, DORWEILER, HAYNIE&SMITH, LAWYERS, DES MOINES, IOWA
Section 1. That any and all objections to the issuance of
the above-mentioned Bonds for the benefit of Kirk Gross
Company are hereby overruled .
Section 2 . That this Council shall proceed with the
necessary proceedings relating to the issuance of said Bonds
as soon as the required documentation has been prepared by
counsel , and approved by the City Attorney of said City, sub-
ject to the condition that the City and Company shall have
agreed to mutually acceptable terms for the bonds and for the
sale and delivery thereof, and mutually acceptable terms and
conditions of all documents and proceedings necessary to the
lawful issuance of said bonds .
Section 3 . That said Bonds, if issued , and the interest
thereon, will be payable solely out of the revenues derived
from the financing of said Industrial Development 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 or
give rise to a pecuniary liability of said City of Waterloo,
Iowa, or a charge against its general credit or taxing powers .
Section 4 . That all resolutions and parts thereof in
conflict herewith are hereby repealed to the extent of such
conflict.
Adopted and approved , A 1.43 64- r1 , 1979.
Leo Rooff , Mayor
ATTEST:
Kathryn Gibb, City Clerk
- .• , .- • . . . , . . - - . • • .A.
and cer hat I am the duly appointed , quail - . acting
City Clerk of t - of Waterloo, ' P ounty of Black
Hawk, State of Iowa; that -IN- I have in my possession, or
have access to m •mplete corpo - - -cords of said City
and o ouncil and officers; that I have . - ully com-
. _ - - �.:a�.�:■�r�.�n�• " P - • =l> .0 • -
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AHLERS. GOONEY, DORWEILER, HAYNIE&SMITH, LAWYERS, DES MOINES, IOWA