HomeMy WebLinkAbout2026-138-03.16.2026_-_Pre-Levy_Resolution_2026A_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
General Obligation Bonds, Series 2026
• Resolution authorizing the issuance and levying a tax for the payment thereof.
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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Council Member Morrow introduced the following Resolution entitled "RESOLUTION
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2026,
AND LEVYING A TAX FOR THE PAYMENT THEREOF", and moved that the same be
adopted. Council Member Creighton -Smith seconded the motion to adopt. The roll was called
and the vote was,
AYES: Steve Schmitt, Dave Morrow, Belinda Creighton -Smith,
Deb Berry, Hector Salamanca, Kelly Martin and Steve
Simon
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 2026-138
RESOLUTION AUTHORIZING THE ISSUANCE OF
GENERAL OBLIGATION BONDS, SERIES 2026, AND
LEVYING A TAX FOR THE PAYMENT THEREOF
WHEREAS, the City of Waterloo, State of Iowa ("Issuer"), is a municipal corporation,
organized and existing under the Constitution and laws of the State of Iowa, and is not affected
by any special legislation; and
WHEREAS, the Issuer is in need of funds to pay 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, reconstruction, extension and
improvement of works and facilities useful for the collection, treatment, and disposal of sewage,
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 acquiring, developing,
and improving of a geographic computer data base system suitable for automated mapping and
facilities management; the rehabilitation and improvement of parks already owned, including the
removal, replacement and planting of trees in the parks, and facilities, equipment, and
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improvements commonly found in city parks; the equipping of fire, police and street
departments; 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;
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; the construction, reconstruction, enlargement, improvement
and equipping of city hall, recreational buildings, fire stations, police stations, downtown parking
ramps, libraries and other public buildings, including security and technology upgrades; the
construction, reconstruction, improvement, renovation and equipping of public works garages
and facilities; and the construction, reconstruction, enlargement, improvement and equipping of
recreational buildings, recreational grounds, golf courses, parks and public buildings, including
for Young Arena (the "Project"), and it is deemed necessary and advisable that General
Obligation Bonds, in one or more series, be issued; and
WHEREAS, the City Council has taken such acts as are necessary to authorize issuance
of the Bonds.
NOW, THEREFORE, IT IS RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, STATE OF IOWA:
Section 1. Authorization of the Issuance. General Obligation Bonds, Series 2026, in the
amount of not to exceed $6,907,447 shall be issued pursuant to the provisions of Iowa Code
Sections 384.25, 384.26 and 384.28 for the purposes covered by the hearing.
Section 2. Levy of Annual Tax. For the purpose of providing funds to pay the principal
and interest as required under Chapter 76.2, there is levied for each future year the following
direct annual tax upon all the taxable property in the City of Waterloo, State of Iowa, to wit:
FISCAL YEAR (JULY 1 TO JUNE 30)
AMOUNT YEAR OF COLLECTION
$1,448,000 2026/2027
$333,600 2027/2028
$334,600 2028/2029
$335,200 2029/2030
$335,400 2030/2031
$335,200 2031/2032
$334,600 2032/2033
$333,600 2033/2034
$337,200 2034/2035
$335,200 2035/2036
$332,800 2036/2037
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Principal and interest coming due at any time when the proceeds of the tax on hand are
insufficient to pay the amount due shall be promptly paid when due from current funds available
for that purpose and reimbursement must be made.
Section 3. Amendment of Levy of Annual Tax. Based upon the terms of the future sale
of the Bonds to be issued, this Council will file an amendment to this Resolution ("Amended
Resolution") with the County Auditor.
Section 4. Filing. A certified copy of this Resolution shall be filed with the County
Auditor of County of Black Hawk, State of Iowa, who shall, pursuant to Iowa Code Section 76.2,
levy, assess and collect the tax in the same manner as other taxes and, when collected, these
taxes shall be used only for the purpose of paying principal and interest on the Bonds.
PASSED AND APPROVED this 16th day of March, 2026.
Signed by:
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ATTEST:
Signed by:
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Kelley Felchle, City Clerk
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Dave Boesen, 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.
WITNESS my hand and the seal of the Council hereto affixed this 16th day of March,
2026.
(SEAL)
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State of Iowa
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COUNTY AUDITOR'S CERTIFICATE
I, -Trw, jrtii Scve , County Auditor of Black Hawk County, State of Iowa,
hereby certify that on the 51 54' day of OlavCh , 2026 there was filed in my
office the Resolution of the City Council of the City of Waterloo, State of Iowa, adopted on the
16th day of March, 2026, such Resolution levying a tax for the purpose of paying principal and
interest on General Obligation Bonds, Series 2026, and authorizing the issuance of the Bonds.
t31 %iifejtv 441,1°1/4./
(COUNTY SEAL) County Auditor of Black Hawk County, State
of Iowa
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4910-0300-2002-1\11310-181