HomeMy WebLinkAbout2026-123-03.16.2026_GCP-2_Hearing_Proceedings_2026_GO_BONDS.docxDocusign Envelope ID: C54ADD03-9D18-4851-B95E-DD707E4C886E
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON MARCH 16, 2026
CITY OF WATERLOO, IOWA
Not to Exceed $969,149 General Obligation Bonds (GCP-2)
• 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.
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March 16, 2026
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 Dave Boesen, in the chair, and the following named Council
Members:
Steve Schmitt, Dave Morrow, Belinda Creighton -Smith, Deb
Berry, Hector Salamanca, Kelly Martin and Steve Simon
Absent: None
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 $969,149 General Obligation Bonds, in order to provide
funds to pay the costs of the construction, reconstruction, improvement, renovation, and
equipping of downtown parking ramps and garages; the equipping of city utilities, public
improvements and city buildings, including the acquisition of vehicles, for general corporate
purposes, and that notice of the proposal to issue the Bonds and the right to petition for an
election had been published as provided by Section 384.26 of the Code of Iowa, and the Mayor
then asked the City Clerk whether any petition had been filed in the Clerk's Office, in the manner
provided by Section 362.4 of the Code of Iowa, and the Clerk reported that no such petition had
been filed, requesting that the question of issuing the Bonds be submitted to the qualified electors
of the City.
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.
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 Martin 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 $969,149
GENERAL OBLIGATION BONDS", and moved:
o
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 , 2026, at this place.
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was,
Council Member Creighton -Smith seconded the motion. The roll was called and the vote
AYES: Steve Schmitt, Dave Morrow, Belinda Creighton -Smith,
Deb Berry, Hector Salamanca, Kelly Martin and Steve
Simon
NAYS: None
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO. 2026-123
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $969,149 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 $969,149 General Obligation Bonds, for the general corporate purposes, in order to
provide funds to pay the costs of the construction, reconstruction, improvement, renovation, and
equipping of downtown parking ramps and garages; the equipping of city utilities, public
improvements and city buildings, including the acquisition of vehicles, and has considered the
extent of objections received from residents or property owners as to the proposed issuance of
Bonds; 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 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 $969,149
General Obligation Bonds, for the foregoing general 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.
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PASSED AND APPROVED this 16th day of March, 2026.
ATTEST:
,-Signed by:
1411, Fcld&
k7fe7FeUrirelAtity Clerk
[Signed by:
..6tV4 beIGSGIA,
3y.i D34 1..
Dave oesen, ayor
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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 16th day of March,
2026.
(SEAL)
Signed by:
W A T KeKe ley e ' ee ity Clerk, City of Waterloo,
State of Iowa
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