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HomeMy WebLinkAbout27349 RES rvo_ 073 Waterloo , Iowa , November 17, 1980. The City Council of Waterloo , Iowa , met on the above date in the Council Chambers , City Hall , in Waterloo , Iowa , at 7 : 00 o' clock P.M. , in open regular session , pursuant to law and the rules of said Council . The meeting was called to order by Leo P. Rooff , Mayor , presiding , and on roll call the following Council Members were present : Wi lha rm Roehr Penaluna Dowie Burton Bowers Absent : Getty * * * * * * * * -1- (Other Business) The Mayor announced that the purpose of the meeting was to hold a public hearing on the proposal to issue not to exceed $1, 000, 000 aggregate principal amount of the City' s Industrial Development Revenue Bonds ( Forward Broadcasting of Iowa , Inc . Project) , pursuant to the provisions of Chapter 419 , Code of Iowa , for the purpose of defraying all or a portion of the cost of acquiring , constructing , improving and equipping a commercial enterprise consisting of a commercial broadcasting studio , including offices and related facilities located within the area of and consistent with the City' s Urban Renewal Plan . It is proposed that the proceeds from the sale of said Bonds be loaned by the City to Forward Broadcasting of Iowa , Inc . , with loan payments sufficient to pay principal of, interest and premium , if any, on such Bonds as the same shall fall due . The Mayor then asked if there was any person or persons present to express views for or against the proposal to issue said Bonds, notice of said hearing having been published as required by law. Written objections or other comments were filed by the following : none (List names of persons filing objections and attach copies of same. If none , insert the word "None" . ) None Oral objections or other comments were made by the following : None (List names of persons appearing and a summary of any views expressed . If none , insert the word "None" . ) None -2- After ample opportunity had been given to all persons who appeared at the hearing to express their views for or against the proposal to issue the Bonds, Council Member Wilharm proposed the following Resolution and moved its adoption . Council Member Bowers seconded the motion to adopt . After due consideration of said motion , the roll was called and the Resolution was adopted by the following vote : AYES: Wilharm Roehr Penaluna Dowie Burton Bowers Absent Getty NAYS : The Resolution was thereupon signed by the Mayor and in evidence of his approval , was attested by the City Clerk, and was declared to be effective. The Resolution is as follows : -3- RESOLUTION NO. 27349 RESOLUTION RELATING TO THE HOLDING OF A PUBLIC HEARING AND APPROVING PROCEEDING WITH THE ISSUANCE AND SALE OF NOT TO EXCEED $1 ,000, 000 IN AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL DEVELOPMENT REVENUE BONDS ( FORWARD BROADCASTING OF IOWA, INC. PROJECT) OF THE CITY OF WATERLOO, IOWA. WHEREAS, the City of Waterloo , a political subdivision of the State of Iowa ( the "City" ) , is authorized by Chapter 419 of the Iowa Code , as amended ( the "Act" ) , to issue revenue bonds for the purpose of defraying the cost of acquiring , construc- ting , improving and equipping land , buildings and improvements suitable for use as a commercial enterprise , located within the area of and consistent with the City' s Urban Renewal Plan , con- sisting of a commercial broadcasting studio , including offices and related facilities , and to loan the proceeds from the sale of such revenue bonds , pursuant to a loan agreement , to Forward Broadcasting of Iowa , Inc . , an Iowa corporation (hereinafter referred to as the "Company" ) , to be used for the aforesaid purposes ; and WHEREAS, the City has determined said project is located within the area of and is consistent with and authorized by the City' s Urban Renewal Plan , and there is a public need in the City and its surrounding environs for implementation of said Urban Renewal Plan , which will promote urban renewal , rehabili- tation and redevelopment of the City, will eliminate blighted areas within the City and provide employment opportunities for residents of the City and the surrounding area ; and WHEREAS, a notice of hearing on the proposal to issue not to exceed $1, 000, 000 aggregate principal amount of Industrial Development Revenue Bonds ( Forward Broadcasting of Iowa , Inc . Project) of the City of Waterloo , 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 said Bonds be issued as proposed ; and NOW, THEREFORE, Be It Resolved by the City Council of the City of Waterloo , Iowa , as follows : -4- Section 1. That it is hereby determined that it is neces- sary and advisable that the City proceed with the issuance of its Industrial Development Revenue Bonds ( Forward Broadcasting of Iowa , Inc . Project) (hereinafter referred to as the "Bonds" ) , in an amount not to exceed $1, 000, 000, as authorized and permitted by the Act, and to loan the proceeds of the sale of the Bonds to the Company, all upon terms and conditions mutually satisfactory to the City and the Company. Section 2. That at the public hearing conducted by this Council , pursuant to published notice , all persons who appeared were given an opportunity to express their views for or against the proposal to issue said Bonds and it is hereby determined that any and all objections to the issuance of the said Bonds, are hereby overruled . Section 3 . That this Council shall proceed with the necessary proceedings relating to the issuance of said Bonds upon reasonable advance notice from the Company that satisfactory financing terms have been agreed upon with the proposed purchasers and the required documentation has been prepared by Bond Counsel , and approved by all other parties , including the City Attorney of said City. 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 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 nor give rise to a pecuniary liability of said City of Waterloo , Iowa , or a charge against its general credit or taxing powers. Section 5. All Resolutions and Orders or parts thereof, in conflict herewith are , to the extent of such conflict, hereby repealed and this Resolution shall be in full force and effect immediately upon its adoption. Adopted and approved , this 17th day of November , 1980. City of Waterloo , Iowa (Seal ) �! / -e-te-ere Leo P. Rooff , Mayq Attest : j:•.rger , Ci Clerk / -5- CLERK'S CERTIFICATE I, Larry P. Burger , being first duly sworn do hereby depose and certify that I am the duly appointed , qualified , and acting City Clerk of the City of Waterloo , in the County of Black Hawk, State of Iowa ; that as such I have in my possession , or have access to , the complete corporate records of said City and of its Council and officers ; that I have carefully compared the transcript hereto attached with the aforesaid corporate records; and that said transcript hereto attached is a true , correct and complete copy of all the corporate records showing the action taken by the City Council of said City at a meeting open to the public on November 17, 1980, holding a public hearing and approving the issuance of not to exceed $1, 000, 000 aggregate principal amount of Industrial Development Revenue Bonds ( Forward Broadcasting of Iowa , Inc . Project) of the City of Waterloo , Iowa ; that said proceedings remain in full force and effect and have not been amended or rescinded in any way; that said meeting and all action thereat was duly and publicly held , with members of the public in attendance , 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 prin- cipal office of the Council (a copy of the face sheet of said agenda being attached hereto) pursuant to the local rules of the Council and the provisions of Chapter 28A, Iowa Code , and upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by said law. Witness my hand and the Corporate Seal of said City hereto affixed this day of November , 1980. ( Seal) Larr P. rger , " ty Clerk State of Iowa SS. : County of Black Hawk Subscribed and sworn to before me this day, the date last above written . (Seal) Notary Public -6- (This Notice to be Posted ) NOTICE AND CALL OF COUNCIL MEETING Governmental Body: The City Council of Waterloo , Iowa . Date of Meeting : November 17, 1980 Time of Meeting : 7: 00 P.M. Place of Meeting : Council Chambers City Hall Waterloo , Iowa PUBLIC NOTICE IS HEREBY GIVEN that the above-mentioned governmental body will meet at the date , time and place above set out . The tentative agenda for said meeting is as follows : 1. Resolution Relating to the Holding of a Public Hearing and Approving Proceeding With The Issuance and Sale of Not To Exceed $1, 000, 000 Aggregate Principal Amount of Industrial Development Revenue Bonds ( Forward Broadcasting of Iowa , Inc . Project) of the City of Waterloo , Iowa . 2. Such additional matters as are set forth on the additional page( s) attached hereto ( attach copy of agenda) . This notice is given at the direction of the Mayor , pur- suant to Chapter 28A, Iowa Code , as amended , and the local rules of said governmental body. l .z- / �' -L Laterr. P :,r get , Clerk t'f'ie t y .L Wa to r l oo , wa -7-