HomeMy WebLinkAbout26178A-02.12.1979 t - - following Resolution and moved for its adoption. Co l
Memb- seconded the motion to ado. . The
roll wa- called and the vote was ,
AYES:
NAYS:
- . = - , - -ayor declared caid Recolution duly adopted
d 4 follows
RESOLUTION NO. of ( / 7 4�
RESOLUTION APPROVING FURTHER ACTION IN CONNECTION
WITH THE ISSUANCE AND SALE OF $5, 000, 000 OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS (AMERICAN
BUILDINGS COMPANY PROJECT) SERIES 1979
WHEREAS, notice of hearing on the proposal to issue
$5, 000, 000 aggregate principal amount of Industrial
Development Revenue Bonds (American Buildings 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:
-2-
AHLERS, COONEY, 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 Hawkeye Steel
Products , Inc. , ( "the Company" ) , a Delaware corporation, are
hereby overruled.
Section 2. That the Mayor is authorized and directed to
meet with representatives of the Company in order to conduct
further negotiations in connection with the issuance of said
bonds.
Section 3. That this matter is hereby continued to a
meeting of said Council to be held at o'clock P.M. on
the 19th day of February, 1979, at which time and place this
Council will take further action in connection with the pro-
posed issuance of said bonds.
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 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 5. That all resolutions and parts thereof in
conflict herewith are hereby repealed to the extent of such
conflict.
Adopted and approved, , 1979.
Leo Rooff ,, Mayor
ATTEST:
Katherine Gibbs, City Clergy:
-3-
AHLERS, COONEY, DORWEILER, HAYNIE&SMITH, LAWYERS, DES MOINES, IOWA