HomeMy WebLinkAbout2025-154-03.17.2025 ECP-1 2025C GO BONDS $4,200,000ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON MARCH 17, 2025
CITY OF WATERLOO, IOWA
Not to Exceed $4,200,000 General Obligation Bonds (ECP-1)
• Public hearing on the issuance.
• Resolution instituting proceedings to take additional action.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
March 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, Chiles, Simons, Wilder, and Feuss
Absent: Creighton -Smith
Vacant: None
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The Mayor announced that this was the time and place for the public hearing and meeting
on the matter of the issuance of not to exceed $4,200,000 General Obligation Bonds, in order to
provide funds to pay the costs of the opening, widening, extending, grading, and draining of the
right-of-way of streets, highways, avenues, alleys and public grounds, and the removal and
replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of
any street improvements; the acquisition, installation, and repair of traffic control devices; the
acquisition, construction, improvement, and installation of street lighting fixtures, connections,
and facilities; the construction, reconstruction, and repair of sidewalks and pedestrian
underpasses and overpasses, and the acquisition of real estate needed for such purposes; the
acquisition, construction, reconstruction, enlargement, improvement, and repair of bridges,
culverts, retaining walls, viaducts, underpasses, grade crossing separations, and approaches
thereto; the acquisition, construction, reconstruction, extension, improvement, and equipping of
works and facilities useful for the collection, treatment, and disposal of sewage and industrial
waste in a sanitary manner, and for the collection and disposal of surface waters and streams; the
acquisition of peace officer communication equipment and other emergency services
communication equipment and systems; the acquisition, restoration, or demolition of abandoned,
dilapidated, or dangerous buildings, structures or properties or the abatement of a nuisance and
for the establishment or funding of programs to provide for or assist in providing for the
acquisition, restoration, or demolition of housing; the rehabilitation and improvement of parks
already owned, including the removal, replacement and planting of trees in the parks, and
facilities, equipment, and improvements commonly found in city parks; the reconstruction and
improvement of dams; the equipping of fire, police and street departments; the acquiring,
developing, and improving of a geographic computer data base system suitable for automated
mapping and facilities management; the acquisition, construction, reconstruction, and
improvement of all waterways, and real and personal property, useful for the protection or
reclamation of property situated within the corporate limits of cities from floods or high waters,
and for the protection of property in cities from the effects of flood waters, including the
construction and improvement of levees, for essential corporate purposes, and that notice of the
proposal to issue the Bonds had been published as provided by Section 384.25 of the Code of
Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by any
resident or property owner of the City to the issuance of the Bonds. The Clerk advised the
Mayor and the Council that no written objections had been filed. The Mayor then called for oral
objections to the issuance of the Bonds and none were made. Whereupon, the Mayor declared
the time for receiving oral and written objections to be closed.
(Attach here a summary of objections received or made, if any)
Whereupon, the Mayor declared the hearing on the issuance of the Bonds to be closed.
The Council then considered the proposed action and the extent of objections thereto.
Whereupon, Council Member Boesen introduced and delivered to the Clerk the
Resolution hereinafter set out entitled "RESOLUTION INSTITUTING PROCEEDINGS TO
TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $4,200,000
GENERAL OBLIGATION BONDS", and moved:
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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
.M. on the day of , 2025, at this place.
Council Member Nichols seconded the motion. The roll was called and the vote was,
AYES: Boesen, Nichols, Chiles, Simons, Wilder, and Feuss
NAYS: None
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO. 2025-154
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $4,200,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the issuance of not to
exceed $4,200,000 General Obligation Bonds, for the essential corporate purposes, in order to
provide funds to pay the costs of the opening, widening, extending, grading, and draining of the
right-of-way of streets, highways, avenues, alleys and public grounds, and the removal and
replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of
any street improvements; the acquisition, installation, and repair of traffic control devices; the
acquisition, construction, improvement, and installation of street lighting fixtures, connections,
and facilities; the construction, reconstruction, and repair of sidewalks and pedestrian
underpasses and overpasses, and the acquisition of real estate needed for such purposes; the
acquisition, construction, reconstruction, enlargement, improvement, and repair of bridges,
culverts, retaining walls, viaducts, underpasses, grade crossing separations, and approaches
thereto; the acquisition, construction, reconstruction, extension, improvement, and equipping of
works and facilities useful for the collection, treatment, and disposal of sewage and industrial
waste in a sanitary manner, and for the collection and disposal of surface waters and streams; the
acquisition of peace officer communication equipment and other emergency services
communication equipment and systems; the acquisition, restoration, or demolition of abandoned,
dilapidated, or dangerous buildings, structures or properties or the abatement of a nuisance and
for the establishment or funding of programs to provide for or assist in providing for the
acquisition, restoration, or demolition of housing; the rehabilitation and improvement of parks
already owned, including the removal, replacement and planting of trees in the parks, and
facilities, equipment, and improvements commonly found in city parks; the reconstruction and
improvement of dams; the equipping of fire, police and street departments; the acquiring,
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developing, and improving of a geographic computer data base system suitable for automated
mapping and facilities management; the acquisition, construction, reconstruction, and
improvement of all waterways, and real and personal property, useful for the protection or
reclamation of property situated within the corporate limits of cities from floods or high waters,
and for the protection of property in cities from the effects of flood waters, including the
construction and improvement of levees, and has considered the extent of objections received
from residents or property owners as to the proposed issuance of Bonds; and following action is
now considered to be in the best interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF 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 $4,200,000
General Obligation Bonds, for the foregoing essential corporate purposes.
Section 2. This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.150-2 and shall be maintained on file as a public record of such intent. It is
reasonably expected that the general fund moneys may be advanced from time to time for capital
expenditures which are to be paid from the proceeds of the above Bonds. The amounts so
advanced shall be reimbursed from the proceeds of the Bonds not later than eighteen months
after the initial payment of the capital expenditures or eighteen months after the property is
placed in service. Such advancements shall not exceed the amount authorized in this Resolution
unless the same are for preliminary expenditures or unless another declaration of intention is
adopted.
PASSED AND APPROVED this 17th day of March 2025.
ATTEST:
Kelley Felchle, City Clerk
62uermcti
oicirauv
SIGNED
Quentin Hart, Mayor
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STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
)
) SS
)
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 17th day of March
2025.
7(elley TelcIile
Kelley Felchle, City Clerk, City o aterloo,
State of Iowa
4912-4247-5291, v. 1