HomeMy WebLinkAbout2026-271-05.18.2026__2026B_GO_Bonds_(New_Authority).docxDocusign Envelope ID: 4E141 DC0-92E1-8004-81 E8-088ECDB35EBC
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON MAY 18, 2026
CITY OF WATERLOO, IOWA
Not to Exceed $6,000,000 General Obligation Bonds (ECP)
• 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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May 18, 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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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 $6,000,000 General Obligation Bonds, in order 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, for essential corporate
purposes, and that notice of the proposal to issue the Bonds had been published as provided by
Section 384.25 of the Code of Iowa.
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 one was made. Whereupon, the Mayor declared the
time for receiving oral and written objections to be closed.
(See attached summary of objections received)
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 Simon 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 $6,000,000
GENERAL OBLIGATION BONDS", and moved:
IN
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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Council Member Martin seconded the motion. 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 measure duly adopted.
RESOLUTION NO. 2026-271
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $6,000,000 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 $6,000,000 General Obligation Bonds, for the essential corporate purposes, in order 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, and has considered the extent
of objections received from residents or property owners as to the proposed issuance of Bonds;
and 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 $6,000,000
General Obligation Bonds, for the foregoing essential 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
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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.
PASSED AND APPROVED this 18th day of May, 2026.
ATTEST:
Signed by[: t / e�t
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Kelley Felchle, City Clerk
Signed by:
VakAij, boc sun,
Dave Boesen, Mayor
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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 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 18th day of May, 2026.
SEAL
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Signed by:
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rreoocorrDcc4Ao...
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
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SUMMARY OF OBJECTIONS GENERAL OBLIGATION BONDS 2026A $6,000,000
05/18/2026 City Council Regular Session Agenda: Public Hearing Item #4
PUBLIC HEARINGS
1. FYE 2026 Budget Amendment I2j.
Motion to receive and file proof of ptbicaion of notice of public hearing.
HOLD HEARING - No comments on fie.
Motion to dose hearing and receive and tie oral and written comments.
Resolution apprrrring FYE 2026 Budget Amendment.
Stbnited by: Bndgett Wand_ Rnance DFettor
2. Runway 10436 Rehabilitation Outside Runway 12i30 Safety Area, FAA AIP Project No.
3-19-0094-060.
Motion to receive and file proof of ptbicaion of notice of public hearing.
HOLD I-LARING - No comments on I.
Motion to dose the hearing and receive and ile oral and written cortrnerds.
Resolution confirming approval ofspectfica6ons. bid documents. form ofcontrdd etc_. and
authorizing to proceed.
Motion to receive. file, and instruct the City Clerk to read the bids and refer to the Director of
Aviation for review.
Submitted by: Sheila Combs. Airport Busncss Manager
3. Sale and conveyance of 7,507 square -feet of City -owned property, located north of
2123 Commercial Street, to R&M Metals Properties, LLC, in the amount of S500.00.
Motion to receive and file proof of publication of notice of public hearing.
HOLD I- _ARJNG - No comments on fie.
Motion to close hearing and receive and tie oral and written comments.
Resolution authorizing the sale and conveyance of 7.507 square -feet of City -owned
property. Ic ated north of 2123 Commercial Street. to RSlr1 Metals Properties. LLC. in the
arnounl of S500.00, and authorizing the Mayor and City Clerk to execute said doan>enls_
Submitted try: Noel Anderson. Community Plamtng and Development Director
4. Issuance of not to exceed $6,000,O0AO GO Bards {;2026A) for essential corporate
purposes.
Motion to receive and file proof of ptbicaion of noticed public hearing.
HOW I£P.RiNG - No comments on lie_
Motion to close hearing and receive and lie oral and written comments.
Resolution insittfing prooeedi gs to take addbonat action.
Submitted by: Bridgett Shoot. Mnance DFector
Todd Obadal, 124 Amity Drive, objected as the agenda stated the amount as $600,000.00
as opposed to $6,000,000.00, stating, due to typographical error, the authority to approve
ends. The City Clerk explained both the agenda and the legal notice published stated
$6,000,000.00.
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