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HomeMy WebLinkAbout2025-028_-_10.27.2025_-_Fixing_Proceedings_-_NTE_$5,000,000_Waterloo_MCU_-_CUR_CLN_2025Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E ITEMS TO INCLUDE ON AGENDA FOR OCTOBER 27, 2025 BOARD OF TRUSTEES OF THE WATERLOO MUNICIPAL COMMUNICATIONS UTILITY, WATERLOO, IOWA Not to exceed $5,000,000 Communications Utility Revenue Capital Loan Notes Resolution fixing date for a meeting on the proposition to authorize a Loan Agreement 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 GOVERNING BODY. Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E October 27, 2025 The Board of Trustees of the Waterloo Municipal Communications Utility, Waterloo, State of Iowa, met in Special Session, in the Harold E. Getty Council Chambers, 715 Mulberry Street, Waterloo, Iowa, at 12:00 P.M., on the above date. There were present Mr. Kurtenbach, in the chair, and the following named Board Members: Kurtenbach, Young and Batemon Absent: Van Fleet and Wienands Vacant: None Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E Board Member Young introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $5,000,000 COMMUNICATIONS UTILITY 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. Board Member Batemon seconded the motion to adopt. The roll was called and the vote was, AYES: Kurtenbach, Young and Batemon NAYS: None Whereupon, the Chairperson declared the resolution duly adopted as follows: RESOLUTION NO.2025-028 RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $5,000,000 COMMUNICATIONS UTILITY REVENUE CAPITAL LOAN NOTES OF THE CITY OF WATERLOO, STATE OF IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Waterloo, State of Iowa, should provide for the authorization of a Loan Agreement and the issuance of Communications Utility Revenue Capital Loan Notes, to the amount of not to exceed $5,000,000, as authorized by Sections 384.24A and 384.83, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out project(s) as hereinafter described; and WHEREAS, the Loan Agreement and Notes shall be payable solely and only out of the Net Revenues of the Municipal Communications Utility 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 Net Revenues to be sufficient for the payment of the Loan Agreement and Notes; and WHEREAS, before the Loan Agreement and Notes may be issued, it is necessary to comply with the provisions of the Code, and to publish a notice of the proposal to issue such notes and of the time and place of the meeting at which the Board proposes to take action for the authorization of the Loan Agreement 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 BOARD OF TRUSTEES OF THE WATERLOO MUNICIPAL COMMUNICATIONS UTILITY OF THE CITY OF WATERLOO, STATE OF IOWA: -2- Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E Section 1. That this Board meet in the Harold E. Getty Council Chambers, 715 Mulberry Street, Waterloo, Iowa, at 4:00 P.M., on the 19th day of November, 2025, for the purpose of taking action on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $5,000,000 Communications Utility Revenue Capital Loan Notes, the proceeds of which notes will be used to provide funds to pay the costs of acquisition, construction, improving, equipping and designing of all or part of the Municipal Communications Utility, including the acquisition, installation and construction of a fiber -to -the -premise communications system and related infrastructure, equipment and facilities, including conduit, fiber, vaults, pedestals, fiber management frame, FDH and splitter cabinets, multiport service terminals, handholes, splice cases, customer premise electronics, customer connections to fiber system infrastructure, the acquisition of vehicles, trucks and construction and maintenance equipment, the construction of a new communications building or the acquisition, reconstruction and remodeling of a communications building, the furnishing and equipping thereof, computer system hardware and software, billing system, related site improvements including parking, and other miscellaneous improvements, extensions and equipment purchases to benefit the Utility. Section 2. That the Secretary 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: -3- Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E (To be published on or before: November 14, 2025; but not before November 1, 2025) NOTICE OF MEETING OF THE BOARD OF TRUSTEES OF THE WATERLOO MUNICIPAL COMMUNICATIONS UTILITY OF THE CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $5,000,000 COMMUNICATIONS UTILITY REVENUE CAPITAL LOAN NOTES, AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the Board of Trustees of the Waterloo Municipal Communications Utility of the City of Waterloo, State of Iowa, will hold a public hearing on the 19th day of November, 2025, at 4:00 P.M., in the Harold E. Getty Council Chambers, 715 Mulberry Street, Waterloo, Iowa, at which meeting the Board proposes to take additional action for the authorization of a Loan Agreement and the issuance of not to exceed $5,000,000 Communications Utility Revenue Capital Loan Notes, to provide funds to pay the costs of acquisition, construction, improving, equipping and designing of all or part of the Municipal Communications Utility, including the acquisition, installation and construction of a fiber -to -the - premise communications system and related infrastructure, equipment and facilities, including conduit, fiber, vaults, pedestals, fiber management frame, FDH and splitter cabinets, multiport service terminals, handholes, splice cases, customer premise electronics, customer connections to fiber system infrastructure, the acquisition of vehicles, trucks and construction and maintenance equipment, the construction of a new communications building or the acquisition, reconstruction and remodeling of a communications building, the furnishing and equipping thereof, computer system hardware and software, billing system, related site improvements including parking, and other miscellaneous improvements, extensions and equipment purchases to benefit the Utility. 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 Communications Utility. At the above meeting the Board 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 Board will at the meeting or at any adjournment thereof, take additional action for the authorization of a Loan Agreement 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 Board of Trustees of the Waterloo Municipal Communications Utility of the City of Waterloo, State of Iowa, as provided by Sections 384.24A and 384.83 of the Code of Iowa. Dated this 27t" day of October, 2025. Signed by: "ev, f ecre ary o the Board of Trustees, Waterloo Municipal Communications Utility, Waterloo, State of Iowa (End of Notice) Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E PASSED AND APPROVED this 27Ih day of October, 2025. ATTEST: Signed by: LUtIty f F� Secretary of the Board of Trustees Signed by: IDMEET Chairperson of the Board of Trustees -5- Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E CERTIFICATE STATE OF IOWA ) ) SS COUNTY OF BLACK HAWK ) I, the undersigned Secretary of the Board of Trustees of the Waterloo Municipal Communications Utility, Waterloo, State of Iowa, do hereby certify that attached is a true and complete copy of the portion of the records of the Board of Trustees showing proceedings of the Board, and the same is a true and complete copy of the action taken by the Board 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 Board 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 Board pursuant to the local rules of the Board 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 offices as indicated therein, that no Board 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 Board hereto affixed this 27th day of October, 2025. Signed by: Secretary o t e Board of Trustees, Waterloo Municipal Communications Utility, Waterloo, State of Iowa (SEAL) �GoMM U N/C�� cu 'Z Ln 7woo Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E 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 Secretary of the Board of Trustees of the Waterloo Municipal Communications Utility, City of Waterloo, in the County of Black Hawk, State of Iowa, and that as such Secretary and by full authority from the Board of the City, I have caused a NOTICE OF MEETING OF THE BOARD OF TRUSTEES OF THE WATERLOO MUNICIPAL COMMUNICATIONS UTILITY, WATERLOO, STATE OF IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $5,000,000 COMMUNICATIONS UTILITY REVENUE CAPITAL LOAN NOTES, OF THE CITY OF WATERLOO, AND THE HEARING ON THE ISSUANCE THEREOF 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/Cedar Falls 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: November 6, 2025. WITNESS my official signature this 61h day of November, 2025. (SEAL) 4914-0445-9377-1\24268-001 Signed by: i Secre ary o t e Board of Trustees, Waterloo Municipal Communications Utility, Waterloo, State of Iowa Docusign Envelope ID: 8EE8BB9A-376A-437A-BF4B-D2A840EE345E THE COURIER AFFIDAVIT OF PUBLICATION Waterloo -Cedar Falls Courier 6915 Chancellor Drive Cedar Falls 50613 (319) 291-1400 State of Florida, County of Broward, ss: Anjana Bhadoriya, being first duly sworn, deposes and says: That (s)he is a duly authorized signatory of Column Software, PBC, duly authorized agent of Waterloo -Cedar Falls Courier, a publication that is a 'legal newspaper" as that phrase is defined for the city of Cedar Falls, for the County of Black Hawk, in the state of Iowa, that this affidavit is Page 1 of 1 with the full text of the sworn -to notice set forth on the pages that follow, and that the attachment hereto contains the correct copy of what was published in said legal newspaper in consecutive issues on the following dates: PUBLICATION DATES: Nov. 6, 2025 NOTICE ID: ANkjrTKgilNg9C0IcgCh PUBLISHER ID: COL-IA-603058 NOTICE NAME: NTE $5,000,000 Utility Revenue (PH 11.19) Publication Fee: $54.95 As, AMA 81, Ador yA (Signed) `\\\\�Pnllvllll/q4111, /SNERI SMITH o Notary public - State of Florida r Commission # HH269353 VERIFICATION P` Expires on May 312026 State of Florida County of Broward Subscribed in my presence and sworn to before me on this: 11/07/202! AAA Notary Public Notarized remotely online using communication technology via Proof. NOTICE OF MEETING OF THE BOARD OF TRUSTEES OF THE WATERLOO MUNICIPAL COM MUNI- CATIONS UTILITY OF THE CITY OF WATERLOO, STATE OF IOWA. ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $5,00D000 COMMUNICATIONS UTILITY REV- ENUE CAPITAL LOAN NOTES, AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE Is hereby ggiven that the Board of Trustees of the'Waterloo Municipal Communications Utility of the City of Waterloo, State of fovear. will hold a public hearing on the 19th day of November, 2025. at 4= F.M., in the Harold E. Getty Council Cham- bers, 715 Mulberry Street, Waterloo,. Iowa, at which meeting the Board proposes to take additional action for the authorization of a Loan Agree- ment and the Issuance of not to ex- ceed 35, D00,000 Communications Utility Revenue Capital Loan Notes.. to provide funds to pay the costs of acqui sit ion, construction, improving, aquippinq and designing of all or part of the Municipal Communications Utility, Including the acquisition. Instal- laton and construction of a fiber -to - the -premise communications system and related Infrastructure, equipment and facilities, including conduit. fiber, vaults, pedestals, ilber management frame, FDH and splltter cabinets, mul- tiporl service terminals, handholes, splice cases, customer premise elec- tronics, customer connections to fiber system Infrastructure, the aci�ulsition of ve hlclas, trucks and construction and maintenance equipment, the construction of a new communi- cations bulding or the acquisition, reconstruction and remodeling of a communications building, the furnish- ing and equipping thereof, computer system hardware and software, billing system, related site Improvements including parking, and other miscel- laneous Improvements, extensions and equipment purchases to benefit the Utility The Notes will not consti- tute general obligations or be payable in any manner by taxation, but will be payablo tram antl secured 6yy the Net Revenues of the Municipal Commum- cations Utility. At the above meeting the Board shall receive oral or written objections from any resident or property owner of the Cityy to the above action. After all ob- jeoii0ns have been received and con- sidered, the Board will at the meeting or at any adjournment thereof. take additional action for the authorization of a Loan Agreement and the issu- ance of the Notes to evidence the obligation of the City thereunder or will abandon the proposal to issue sad Notes. This notice Is given by order of the Board of Trustees of the Waterloo Municipal Communications Utility of the City of Waterloo, Stale of Iowa,. as provided 6y Sectlons 384.24A and 3&1.83 of the Code of Iowa. Dated this 27th day of October 2025. Kelley Falahle Board Secretary COL-IA-603056 NTE $5,000,000 Utility Revenue (PH 11.19) - Page 1 of 1