HomeMy WebLinkAbout2016-306-4/25/2016 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-306
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$700,000 GENERAL OBLIGATION BONDS OF THE CITY OF
WATERLOO, STATE OF IOWA (FOR GENERAL
CORPORATE PURPOSES), AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of Iowa,
should issue General Obligation Bonds, to the amount of not to exceed $700,000, as authorized by
Section 384.26, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out
general corporate purpose project(s) as hereinafter described; and
WHEREAS, the Issuer has a population of more than 5,000 but not more than 75,000, and
the Bonds for these purposes do not exceed$700,000; and
WHEREAS, before the Bonds may be issued, it is necessary to comply with the provisions
of Chapter 384 of the Code of Iowa, and to publish a notic6 of the proposal to issue such Bonds and
the right to petition for an election.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
WATERLOO, STATE OF IOWA:
Section 1. That this Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 5:30 P.M., on the 23rd day of May, 2016, for the purpose of taking action
on the matter of the issuance of not to exceed $700,000 General Obligation-Bonds, for general
corporate purposes, the proceeds of which bonds will be used to provide funds to pay the costs of
acquisition of vehicles for various city departments, including engineering, building inspections,
leisure and building maintenance, and the City motor pool; equipping various city departments,
including parks and leisure services; building and infrastructure improvements for public works,
including roof replacement for the public works building; reconstruction, renovation, remodeling,
improvement, equipping and repairing of various City buildings and facilities, including projects at
new city facilities, various ADA compliance improvements, public works fuel distribution site,
Public Market facility, Riverfront Stadium, fire station, golf course, downtown parking garages,
public library, fire station improvements, and swimming pool renovations and shall bear interest at
a rate not exceeding the maximum specified in the attached notice.
Section 2. That the Clerk is hereby directed to cause at least one publication to be made
of a notice of the meeting, in a legal newspaper, printed wholly in the English language, published
at least once weekly, and having general circulation in the City. The publication to be not less than
ten clear days nor more than twenty days before the date of the public meeting on the issuance of
the Bonds.
Section 3. The notice of the proposed action to issue bonds shall be in substantially the
following form:
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Resolution 2016-306
Page 2
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$700,000 GENERAL OBLIGATION BONDS OF THE CITY
(FOR GENERAL CORPORATE PURPOSES), AND THE
HEARING ON THE 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 23rd day of May, 2016, at 5:30 P.M. in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at which meeting the Council proposes
to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, for
general corporate purposes, bearing interest at a rate of not to exceed nine (9) per centum per
annum, the Bonds to be issued to provide funds to pay the costs of acquisition of vehicles for
various city departments, including engineering, building inspections, leisure and building
maintenance, and the City motor pool; equipping various city departments, including parks and
leisure services; building and infrastructure improvements for public works, including roof
replacement for the public works building; reconstruction, renovation, remodeling, improvement,
equipping and repairing of various City buildings and facilities, including projects at new city
facilities, various ADA compliance improvements, public works fuel distribution site, Public
Market facility, Riverfront Stadium, fire station, golf course, downtown parking garages, public
library, fire station improvements, and swimming pool renovations.
At any time before the date of the meeting, a petition, asking that the question of issuing
such Bonds be submitted to the legal voters of the City, may be filed with the Clerk of the City in
the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of Section
3 84.26 of the Code of Iowa.
At the above meeting the 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 Council will at the meeting or at any adj ournment thereof,take additional action for
the issuance of the Bonds or will abandon the proposal to issue said Bonds.
This notice is given by order of the City Council of the City of Waterloo, State of Iowa, as
provided by Section 3 84.26 of the Code of Iowa.
Dated this 25h day of April 2016
Suzy Schares, CMC
City Clerk
(End of Notice)
a
Resolution 2016-306
Page 3
PASSED AND APPROVED this 25th day of April, 2016.
Quentin M. Hart, Mayor
ATTEST:
Suzy Schar s,TmC
City Clerk
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