HomeMy WebLinkAbout2024-343-06.03.2024 entry into fiber reimbursement agreement (02355333x7F7E1)June 3, 2024
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, Simon, Wilder and Feuss
Absent: None
Vacant: None
Council Member Wilder introduced the following resolution entitled "RESOLUTION
APPROVING FIBER PROJECT REIMBURSEMENT AGREEMENT BY AND BETWEEN
THE CITY OF WATERLOO AND THE WATERLOO MUNICIPAL COMMUNICATIONS
UTILITY", and moved that the resolution be adopted. Council Member Boesen seconded the
motion to adopt. The roll was called and the vote was,
AYES: Boesen, Nichols, Creighton -Smith, Chiles, Simon, Wilder and Feuss
NAYS: None
Whereupon, the Mayor declared said Resolution duly adopted as follows:
RESOLUTION NO. 2024-343
RESOLUTION APPROVING FIBER PROJECT
REIMBURSEMENT AGREEMENT BY AND BETWEEN THE
CITY OF WATERLOO AND THE WATERLOO MUNICIPAL
COMMUNICATIONS UTILITY
WHEREAS, this Council previously approved a Joint Public Improvement Agreement
(the "Improvement Agreement") in connection with the design, bid letting and construction of a
Fiber -to -the -Premises Feeder/Distribution ("FTTP") and Backbone Network ("Backbone")
Project within the City (the "Project"); and
WHEREAS, the Improvement Agreement provides that the City and the Utility shall
determine a framework for reimbursement by the Utility to the City for a proportionate share of
the debt service on the proceeds of bonds or notes allocated to the FTTP portion of the Project;
and
WHEREAS, the City has now issued $20,000,000 of General Obligation Capital Loan
Notes, Series 2024D (the "Notes"), a part of which proceeds will fund costs of the FTTP system,
and the City and the Utility now wish to enter into an agreement to memorialize the Utility's
reimbursement to the City of such costs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
1. That the Fiber Project Reimbursement Agreement by and between the City of Waterloo
and the Waterloo Municipal Communications Utility is hereby approved, authorized, and
confirmed, and the Mayor and City Clerk are hereby authorized, empowered, and
directed to execute and deliver the Fiber Project Reimbursement Agreement in
substantially the form and content now before this meeting, but with such changes,
modifications, additions or deletions approved by the Mayor and City Clerk, upon the
advice of bond counsel.
PASSED AND APPROVED this 3rd day of June, 2024.
Qaerca Ilir1
Quentin Hart, Mayor
ATTEST:
Kelley FeCcicle
Kelley Felchle, City Clerk
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF BLACK HAWK
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 3rd day of June, 2024.
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02355333\11310-171
Kelley Felchle
DIGITALLY
SIGNED
.di
Kelley Felchle, City Clerk, City of
State of Iowa
aterloo,