HomeMy WebLinkAbout2023-678-11.06.2023 Fix Date Proceedings 2024C Sewer SRF (02269260x7F7E1)November 6, 2023
The City Council of the City of Waterloo, State of Iowa, met in regular session, in the
Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:30 P.M., on the above
date. There were present Mayor Quentin Hart, in the chair, and the following named Council
Members:
Boesen, Nichols, Creighton -Smith, Chiles, Grieder, Wilder, and
Feuss
Absent: None
Vacant: None
Council Member Feuss introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $1,014,000
SEWER REVENUE CAPITAL LOAN NOTES OF THE CITY OF WATERLOO, STATE OF
IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the
same be adopted. Council Member Wilder seconded the motion to adopt. The roll was called
and the vote was,
AYES: Boesen, Nichols, Creighton -Smith, Chiles, Grieder,
Wilder and Feuss
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 2023-678
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AND DISBURSEMENT
AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED
$1,014,000 SEWER REVENUE CAPITAL LOAN NOTES OF
THE CITY OF WATERLOO, STATE OF IOWA, AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of
Iowa, should provide for the authorization of a Loan and Disbursement Agreement and the
issuance of Sewer Revenue Capital Loan Notes, in the amount of not to exceed $1,014,000, as
authorized by Sections 384.24A and 384.83, of the Code of Iowa, for the purpose of providing
funds to pay costs of carrying out project(s) as hereinafter described; and
WHEREAS, the City has applied for a loan through the Iowa Water Pollution Control
Works Financing Program pursuant to which the Iowa Finance Authority has agreed to purchase
the City's Notes and has requested that such Notes be issued as a single Note in a denomination
equal to the total amount of the issue as authorized by Chapter 384 of the Code of Iowa; and
WHEREAS, the Loan and Disbursement Agreement and Notes shall be payable solely
and only out of the Net Revenues of the Municipal Sewer System and shall be a first lien on the
future Net Revenues of the Utility; and shall not be general obligations of the City or payable in
any manner by taxation and the City shall be in no manner liable by reason of the failure of the
Net Revenues to be sufficient for the payment of the Loan and Disbursement Agreement and
Notes; and
WHEREAS, before the Loan and Disbursement Agreement and Notes may be authorized
and Sewer Revenue Capital Loan Notes issued to evidence the obligations of the City
thereunder, it is necessary to comply with the provisions of the Code of Iowa, and to publish a
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notice of the proposal to issue such notes and of the time and place of the meeting at which the
Council proposes to take action for the authorization of the Loan and Disbursement Agreement
and Notes and to receive oral and/or written objections from any resident or property owner of
the City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
Section 1. That this City Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 5:30 P.M., on the 20th day of November 2023, for the purpose of
taking action on the matter of the authorization of a Loan and Disbursement Agreement and the
issuance of not to exceed $1,014,000 Sewer Revenue Capital Loan Notes, to evidence the
obligations of the City thereunder, the proceeds of which will be used to provide funds to pay the
costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing
and equipping all or part of the Municipal Sewer System, including those costs associated with
the rehabilitation of Final Secondary Clarifier #3.
Section 2. That the Clerk is hereby directed to cause at least one publication to be made
of a notice of said meeting, in a legal newspaper, printed wholly in the English language,
published at least once weekly, and having general circulation in said City. The publication to be
not less than four clear days nor more than twenty days before the date of the public meeting on
the issuance of the Notes.
Section 3. The notice of the proposed action to issue notes shall be in substantially the
following form:
(To be published between: October 31, 2023 and November 15, 2023)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF
NOT TO EXCEED $1,014,000 SEWER REVENUE CAPITAL
LOAN NOTES, AND THE PUBLIC HEARING ON THE
AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waterloo, State of
Iowa, will hold a public hearing on the 20th day of November 2023, at 5:30 P.M., in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at which meeting the City Council
proposes to take additional action for the authorization of a Loan and Disbursement Agreement
by and between the City and the Iowa Finance Authority and the issuance to the Iowa Finance
Authority of not to exceed $1,014,000 Sewer Revenue Capital Loan Notes, to evidence the
obligations of the City under said Loan and Disbursement Agreement, in order to provide funds
to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving,
repairing and equipping all or part of the Municipal Sewer System, including those costs
associated with the rehabilitation of Final Secondary Clarifier #3. The Notes will not constitute
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general obligations or be payable in any manner by taxation, but will be payable from and
secured by the Net Revenues of the Municipal Sewer System.
At the above meeting the City Council shall receive oral or written objections from any
resident or property owner of the City to the above action. After all objections have been
received and considered, the City Council will at this meeting or at any adjournment thereof,
take additional action for the authorization of said Loan and Disbursement Agreement and the
issuance of the Notes to evidence the obligation of the City thereunder or will abandon the
proposal to issue said Notes.
This notice is given by order of the City Council of the City of Waterloo, State of Iowa,
as provided by Sections 384.24A and 384.83 of the Code of Iowa.
Dated this 6th day of November 2023.
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(End of Notice)
PASSED AND APPROVED this 6th day of November 2023.
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Quentin Hart, Mayor
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
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STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
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I, the undersigned City Clerk of the City of Waterloo, State of Iowa, do hereby certify
that attached is a true and complete copy of the portion of the records of the City showing
proceedings of the Council, and the same is a true and complete copy of the action taken by the
Council with respect to the matter at the meeting held on the date indicated in the attachment,
which proceedings remain in full force and effect, and have not been amended or rescinded in
any way; that meeting and all action thereat was duly and publicly held 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 pursuant to
the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable
advance notice to the public and media at least twenty-four hours prior to the commencement of
the meeting as required by law and with members of the public present in attendance; I further
certify that the individuals named therein were on the date thereof duly and lawfully possessed of
their respective City offices as indicated therein, that no Council vacancy existed except as may
be stated in the proceedings, and that no controversy or litigation is pending, prayed or
threatened involving the incorporation, organization, existence or boundaries of the City or the
right of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of the Council hereto affixed this 6th day of November
2023.
SEAL
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Kelley Felchle
Kelley Felchle, City Clerk, City o q aterloo,
State of Iowa
STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
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I, the undersigned, do hereby certify that I am now and was at the times hereinafter
mentioned, the duly qualified and acting Clerk of the City of Waterloo, in the County of Black
Hawk, State of Iowa, and that as such Clerk and by full authority from the Council of the City, I
have caused a
NOTICE OF PUBLIC HEARING
(Not To Exceed $1,014,000 Sewer Revenue Capital Loan Notes)
of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures
a correct and complete copy, to be published as required by law in the "Waterloo Courier", a
legal newspaper published at least once weekly, printed wholly in the English language,
published regularly and mailed through the post office of current entry for more than two years
and which has had for more than two years a bona fide paid circulation recognized by the postal
laws of the United States, and has a general circulation in the City, and that the Notice was
published in all of the issues thereof published and circulated on the following date:
November 11, 2023.
WITNESS my official signature at Waterloo, Iowa, on this 13th day of November 2023.
SEAL
02269260-1\11310-166
Kelley Felchle, City Clerk, City o + aterloo,
State of Iowa