HomeMy WebLinkAbout2025-095-02.17.2025 Fix Date Proceedings GCP-2 2025C GO BONDSITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON FEBRUARY 17, 2025
CITY OF WATERLOO, IOWA
Not to Exceed $700,000.00 General Obligation Bonds (GCP-2)
• Resolution fixing date for a meeting on the proposition to issue.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
February 17, 2025
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, Wilder and Feuss
Absent: Simon
Vacant: None
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Council Member Feuss introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT
TO EXCEED $700,000.00 GENERAL OBLIGATION BONDS OF THE CITY OF
WATERLOO, STATE OF IOWA (FOR GENERAL CORPORATE PURPOSES), AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the same be
adopted. Council Member Nichols seconded the motion to adopt. The roll was called and the
vote was,
AYES: Boesen, Nichols, Creighton -Smith, Chiles, Wilder and
Feuss
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2025-095
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$700,000.00 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 $700,000.00, 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 $934,570.00; 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 notice 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 17th day of March 2025, for the purpose of taking
action on the matter of the issuance of not to exceed $700,000.00 General Obligation Bonds, for
general corporate purposes, the proceeds of which bonds will be used to provide funds to pay the
costs of the construction, reconstruction, improvement, renovation, and equipping of downtown
parking ramps and garages; the construction, reconstruction, improvement, renovation and
equipping of public works garages and facilities; the equipping of city utilities, public
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improvements and city buildings, including the acquisition of vehicles 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:
(To be published between: March 4, 2025, and March 6, 2025)
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
$700,000.00 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 17th day of March 2025, 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 $700,000.00 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 the
construction, reconstruction, improvement, renovation, and equipping of downtown parking
ramps and garages; the construction, reconstruction, improvement, renovation and equipping of
public works garages and facilities; the equipping of city utilities, public improvements and city
buildings, including the acquisition of vehicles.
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
384.26 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 adjournment 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 384.26 of the Code of Iowa.
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Dated this 17th day of February 2025.
�elley l elch(e DIGITALLY
SIGNED
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(End of Notice)
PASSED AND APPROVED this 17th day of February 2025.
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
Quemtz
Quentin Hart, Mayor
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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.
2025.
WITNESS my hand and the seal of the Council hereto affixed this 17th day of F
7(elley Felchle
(SEAL) Kelley Felchle, City Clerk, City of Water oo,
OF W A tF_ State of Iowa
•
fy
IlI„■IuI eiegiIIIsI
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0
0
STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
)
) SS
)
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 $700,000.00 General Obligation Bonds) (GCP-2)
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:
March 4, 2025.
WITNESS my official signature this 4tn day of March 2025.
J(elley Felchle
(SEAL) Kelley Felchle, City Clerk, City of Wate oo,
State of Iowa
11310.176
4897-7905-0519, v. 1