HomeMy WebLinkAbout2026-312-06.02.2026_$3,500,000__SR_Capital_Loan_Notes,_Series_2026A.docxDocusign Envelope ID: 14DC83E1-304E-8611-8015-12E8989A6C4E
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON JUNE 2, 2026
CITY OF WATERLOO, IOWA
$3,500,000* (Subject to Adjustment) Sewer Revenue Capital Loan Notes, Series 2026A
• Resolution Directing the Acceptance of a Proposal to Purchase $3,500,000* (Subject to
Adjustment) Sewer Revenue Capital Loan Notes, Series 2026A.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
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June 2, 2026
The City Council of the City of Waterloo, State of Iowa, met in special session, in the
Council Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa, at 5:00 P.M., on the above
date. There were present Mayor Dave Boesen, in the chair, and the following named Council
Members:
Schmitt, Morrow, Berry, Salamanca, Martin and Simon
Absent: Creighton -Smith
Vacant: None
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Council Member Morrow introduced the following Resolution entitled "RESOLUTION
DIRECTING THE ACCEPTANCE OF A PROPOSAL TO PURCHASE $3,500,000*
(SUBJECT TO ADJUSTMENT) SEWER REVENUE CAPITAL LOAN NOTES, SERIES
2026A" and moved that it be adopted. Council Member Martin seconded the motion to adopt,
and the roll being called thereon, the vote was as follows:
AYES: Schmitt, Morrow, Berry, Salamanca, Martin and Simon
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 2026-312
RESOLUTION DIRECTING THE ACCEPTANCE OF A
PROPOSAL TO PURCHASE $3,500,000* (SUBJECT TO
ADJUSTMENT) SEWER REVENUE CAPITAL LOAN NOTES,
SERIES 2026A
WHEREAS, the City of Waterloo, sometimes hereinafter referred to as the City, is a
municipal corporation duly incorporated, organized and existing under and by virtue of the
Constitution and laws of the State of Iowa; and
WHEREAS, it is deemed necessary that the City should enter into a Loan Agreement and
borrow the amount of $3,500,000* (Subject to Adjustment) as authorized by Sections 384.24A
and 384.83, Code of Iowa as amended; and
WHEREAS, proposals have been requested and received from financial institutions
offering to enter into such Loan Agreement; and
WHEREAS, after a review of all the proposals received, it has been determined that the
best and most favorable proposal is that of Piper Sandler & Co. of Des Moines, Iowa; and
WHEREAS, it is the intention of this City Council to enter into a Loan Agreement in
accordance with said proposal dated June 2, 2026.
2
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NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY
OF WATERLOO, STATE OF IOWA:
Section 1. That this City Council does hereby accept the attached proposal of Piper
Sandler & Co. of Des Moines, Iowa, and takes additional action to permit the entering into of a
Loan Agreement.
Section 2. The Mayor and City Clerk are authorized and directed to proceed on behalf of
the City to enter into such Loan Agreement, to negotiate the final terms of a Loan Agreement to
take all action necessary to permit the entering into of a Loan Agreement on a basis favorable to
the City and acceptable to the Purchaser, and to proceed to meet the conditions of this accepted
proposal.
PASSED AND APPROVED this 2nd day of June, 2026.
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Kelley Felchle, City Clerk
p—Signed by:
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Dave Boesen, Mayor
(Attach Copy of Terms of Proposal)
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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.
SEAL
WITNESS my hand and the seal of the Council hereto affixed this 2nd day of June, 2026.
(—Signed by:
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