HomeMy WebLinkAbout2026-235-05.04.2026_Fix_Date_Proceedings_2026A_GO_BONDS_(New_Authority).docxDocusign Envelope ID: 5967226C-E115-8BFB-81 D2-95B50BB1 E978
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON MAY 4, 2026
CITY OF WATERLOO, IOWA
Not to Exceed $6,000,000 General Obligation Bonds (ECP)
• Resolution fixing date for a meeting on the proposition to issue.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
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May 4, 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:
Schmitt, Morrow, Creighton -Smith, Berry, Salamanca, Martin and
Simon
Absent: None
Vacant: None
* * * * * * * *
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Council Member Simon introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT
TO EXCEED $6,000,000 GENERAL OBLIGATION BONDS OF THE CITY OF
WATERLOO, STATE OF IOWA (FOR ESSENTIAL CORPORATE PURPOSES), AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the same be
adopted. Council Member Martin seconded the motion to adopt. The roll was called and the
vote was,
AYES: Schmitt, Morrow, Creighton -Smith, Berry, Salamanca,
Martin and Simon
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 2026-235
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$6,000,000 GENERAL OBLIGATION BONDS OF THE CITY
OF WATERLOO, STATE OF IOWA (FOR ESSENTIAL
CORPORATE PURPOSES), 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 and issuance of General Obligation Bonds, to the
amount of not to exceed $6,000,000, as authorized by Section384.25, of the Code of Iowa, for
the purpose of providing funds to pay costs of carrying out essential corporate purpose project(s)
as hereinafter described; and
WHEREAS, before the Bonds 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 bonds and of the
time and place of the meeting at which the Council proposes to take action for the issuance of the
Bonds 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 Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa, at 5:30 P.M., on the 18th day of May, 2026, for the purpose of taking
action on the matter of the issuance of not to exceed $6,000,000 General Obligation Bonds, for
essential corporate purposes, the proceeds of which bonds will be used to provide funds to pay
the costs of the opening, widening, extending, grading, and draining of the right-of-way of
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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, including infrastructure
improvements at the South Waterloo Business Park.
Section 2. To the extent any of the projects or activities described in this resolution may
be reasonably construed to be included in more than one classification under Subchapter III of
Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose"
classification and procedure with respect to each such project or activity, pursuant to Section
384.28 of the Code of Iowa.
Section 3. 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 Bonds.
Section 4. The notice of the proposed action to issue bonds shall be in substantially the
following form:
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(To be published between: May 5, 2026 and May 13, 2026)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$6,000,000 GENERAL OBLIGATION BONDS OF THE CITY
(FOR ESSENTIAL CORPORATE PURPOSES), AND THE
HEARING ON THE 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 18th day of May, 2026, at 5:30 P.M., in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at which meeting the Council
proposes to take additional action for the issuance of not to exceed $6,000,000 General
Obligation Bonds, for essential corporate purposes, 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,
reconstruction, extension and improvement of works and facilities useful for the collection,
treatment, and disposal of sewage, surface waters and streams, including infrastructure
improvements at the South Waterloo Business Park.
The annual increase in property taxes as the result of the issuance on a residential
property with an actual value of one hundred thousand dollars is estimated not to exceed $9.83.
This estimate only considers the impact on property taxes of financing authority established by
this hearing for the above -described project(s). The bond may be issued in one or more series
over a number of years. Finance authority established by this hearing may be combined with
additional finance authority, causing the estimate for the annual increase in property taxes for the
entire issuance to be greater than the estimate stated herein. Changes in other levies may cause
the actual annual increase in property taxes to vary.
At the above meeting the 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 Council will at the meeting or at any adjournment thereof, take
additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds.
This notice is given by order of the City Council of the City of Waterloo, State of Iowa,
as provided by Section 384.25 of the Code of Iowa.
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Dated this 4th day of May, 2026.
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(End of Notice)
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PASSED AND APPROVED this 4th day of May, 2026.
Signed by:
Dave Boesen, Mayor
ATTEST:
Signed by:
ed&
Kelley Felchle, City Clerk
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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 4th day of May, 2026.
SEAL
1Iii1.111111111111111
Signed by:
fdelle
Kett y`Felc de, City Clerk, City of Waterloo,
State of Iowa
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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 $6,000,000 General Obligation Bonds) (ECP)
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:
May 4, 2026.
WITNESS my official signature this 4th day of May, 2026.
,-Signed by:
Kteecy f tecat
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(SEAL)
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