HomeMy WebLinkAbout1986-152-03.24.1986 Whereupon, Council Member Willie Mae Wright , introduced
and delivered to the Clerk the Resolution hereinafter set out
entitled "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL
ACTION FOR THE AUTHORIZATION AND ISSUANCE OF NOT TO EXCEED
$80,000 GENERAL OBLIGATION BONDS" , and moved:
/X/ that the Resolution be adopted.
/ / to ADJOURN and defer action on the Resolution and the
proposal to institute proceedings for the issuance of
bonds to the meeting to be held at o'clock
.M. on the day of , 1986, at
this place.
Council Member Jim Miller seconded the motion.
The roll was called and the vote was,
AYES : Mary Lichty
Jim Miller
Willie Mae Wright
Rose Angel
ABSENT : Tony Budak, Frank Dowie, Jack Seeber
NAYS:
Whereupon, the Mayor declared the measure duly adopted.
RESOULUTION NO. 1986-152
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL
ACTION FOR THE AUTHORIZATION AND ISSUANCE OF NOT TO
EXCEED $80,000 GENERAL OBLIGATION BONDS
WHEREAS , pursuant to notice published as required by law,
the Council has held a public meeting and hearing upon the
proposal to institute proceedings for the issuance of not to
exceed $80, 000 General Obligation Bonds for a general corporate
purpose, in order to provide funds to pay costs of renovation
to the East 5th Street Parking Ramp and improvements to the
municipal stadium, and no petition was filed calling for a
referendum thereon. The following action is now considered to
be in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF WATERLOO, IOWA:
Section 1 . That this Council does hereby institute
proceedings and take additional action for the authorization
and issuance in the manner required by law of not to exceed
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Ahlers,Cooney,Dorweiler,Haynie,Smith&Allbee,Lawyers,Des Moines,Iowa
$80, 000 General Obligation Bonds for the foregoing general
corporate purpose.
Section 2. The Clerk is authorized and directed to proceed
on behalf of the City with the sale of said bonds, to select a
date for the sale thereof, to cause to be prepared such notice
and sale information as may appear appropriate, to publish and
distribute the same on behalf of the City and this Council and
otherwise to take all action necessary to permit the sale of
said bonds on a basis favorable to the City and acceptable to
the Council.
PASSED AND APPROVED this 24th day of March , 1986.
(17
Ma or Bernie McKi ley
ATTEST:
7 1 ;
Clerk Michelle Temeyer
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Ahlers,Cooney,Dorweiler,Haynie,Smith&Alibee,Lawyers,Des Moines,Iowa
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