HomeMy WebLinkAbout2025-181-04.07.2025Docusign Envelope ID: ElFF0F93-3B01-482D-A407-31FCA1796F00
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON APRIL 7, 2025
CITY OF WATERLOO, IOWA
Not to Exceed $1,100,000 Sewer Revenue Capital Loan Notes (State of Iowa Revolving Fund
Sponsored Project)
• Resolution fixing date for a meeting on the proposition to authorize one or more Loan
and Disbursement Agreements and the issuance of Notes to evidence the obligations of
the City thereunder.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
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April 7, 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 Ray Feuss, Mayor Pro Tem, in the chair, and the following named
Council Members:
Nichols, Creighton -Smith, Chiles, Simon, Wilder and Feuss
Absent: Boesen
Vacant: None
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Council Member Nichols introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF ONE OR MORE LOAN
AND DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF NOT TO EXCEED
$1,100,000 SEWER REVENUE CAPITAL LOAN NOTES OF THE CITY OF WATERLOO,
STATE OF IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and
moved that the same be adopted. Council Member Wilder seconded the motion to adopt. The
roll was called and the vote was,
AYES: Nichols, Creighton -Smith, Chiles, Simon, Wilder and
Feuss
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 2025-181
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF ONE OR MORE LOAN AND
DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF
NOT TO EXCEED $1,100,000 SEWER REVENUE CAPITAL
LOAN NOTES OF THE CITY OF WATERLOO, STATE OF
IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF
WHEREAS, the City has applied for a sponsored project loan through the Iowa Water
Pollution Control Works Financing Program pursuant to which the Iowa Finance Authority has
agreed to amend and reissue two loan agreements relating to outstanding SRF loans to allow for
the construction of a sponsored project, along with two zero percent interest loans, and has
requested that such reissued Notes be issued as single Notes in a denomination equal to the total
amount of the issue as authorized by Chapter 384 Code of Iowa; and
WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of
Iowa, should provide for the authorization of one or more Loan and Disbursement Agreements
and the issuance of Sewer Revenue Capital Loan Notes, in the aggregate amount of not to exceed
$1,100,000, as authorized by Sections 384.24A, 384.82 and 384.83, of the Code of Iowa, for the
purpose of providing funds to pay costs of the Sponsored Project amendment as herein
described; and
WHEREAS, the Loan and Disbursement Agreements and Notes shall be payable solely
and only out of the Net Revenues of the Municipal Sewer System and shall be a first lien on the
future Net Revenues of the Utility; and shall not be general obligations of the City or payable in
any manner by taxation and the City shall be in no manner liable by reason of the failure of the
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Net Revenues to be sufficient for the payment of the Loan and Disbursement Agreements and
Notes; and
WHEREAS, before the Loan and Disbursement Agreements may be authorized and
Sewer Revenue Capital Loan Notes issued, it is necessary to comply with the provisions of the
Code of Iowa, and to publish a notice of the proposal to issue such notes and of the time and
place of the meeting at which the Council proposes to take action for the authorization of the
Loan and Disbursement Agreements and Notes and to receive oral and/or written objections
from any resident or property owner of the City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
Section 1. That this City Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 5:30 P.M., on the 21' day of April, 2025, for the purpose of taking
action on the matter of the authorization of one or more Loan and Disbursement Agreements and
the issuance of not to exceed $1,100,000 Sewer Revenue Capital Loan Notes, the proceeds of
which notes will be used to provide funds to pay the costs of acquisition, construction,
reconstruction, extending, remodeling, improving, repairing and equipping all or part of the
Municipal Sewer System, including those costs associated with a Clean Water SRF Water
Restoration Sponsored Project, including the Sunnyside Basin project.
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 four clear days nor more than twenty days before the date of the public meeting on
the issuance of the Notes.
Section 3. The notice of the proposed action to issue notes shall be in substantially the
following form:
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(To be published between: April 8, 2025 and April 17, 2025)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED AUTHORIZATION OF ONE OR MORE
LOAN AND DISBURSEMENT AGREEMENTS AND THE
ISSUANCE OF NOT TO EXCEED $1,100,000 SEWER
REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC
HEARING ON THE AUTHORIZATION AND 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 21' day of April, 2025, at 5:30 P.M., in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at which meeting the City Council
proposes to take additional action for the authorization of one or more Loan and Disbursement
Agreements by and between the City and the Iowa Finance Authority and the issuance to the
Iowa Finance Authority of not to exceed $1,100,000 Sewer Revenue Capital Loan Notes, to
evidence the obligations of the City under said Loan and Disbursement Agreements, in order to
provide funds to pay the costs of acquisition, construction, reconstruction, extending,
remodeling, improving, repairing and equipping all or part of the Municipal Sewer System,
including those costs associated with a Clean Water SRF Water Restoration Sponsored Project,
including the Sunnyside Basin project. The Notes will not constitute general obligations or be
payable in any manner by taxation, but will be payable from and secured by the Net Revenues of
the Municipal Sewer System
At the above meeting the City 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 City Council will at the meeting or at any adjournment thereof, take
additional action for the authorization of the Loan and Disbursement Agreements and the
issuance of the Notes to evidence the obligation of the City thereunder or will abandon the
proposal to issue said Notes.
This notice is given by order of the City Council of the City of Waterloo, State of Iowa,
as provided by Sections 384.24A and 384.83 of the Code of Iowa.
Dated this 7th day of April, 2025.
City Clerk, City of Waterloo, State of Iowa
(End of Notice)
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[%'uss
PASSED AND APPROVED this 7th day b,025.
"I
Mayor roemF Ray Feuss
ATTEST:
DocuSigned by:
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Kelley Felchle, City Clerk
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STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
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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 City 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 public hearing 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 7th day of April, 2025.
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Docusign Envelope ID: ElFF0F93-3B01-482D-A407-31FCA1796F00
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF BLACK HAWK
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 $1,100,000 Sewer Revenue Capital Loan Notes)
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:
April 10, 2025.
WITNESS my official signature this
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4904-4491-0120-1 \11310-177
day of April, 2025.
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'it1861kirt7fYof Waterloo, State of Iowa