HomeMy WebLinkAbout2026-476-09.08.2026_-_Fix_Date_Proceedings_2026D_Sewer_SRF_(1).docxDocusign Envelope ID: 562DD6CC-F8C4-87D2-8049-9781D65E5E4E
ITEMS TO INCLUDE ON AGENDA
FOR THE COUNCIL MEETING ON SEPTEMBER 8, 2026
CITY OF WATERLOO, IOWA
Not to Exceed $3,968,000 Sewer Revenue Capital Loan Notes (State of Iowa Revolving Fund
Loan)
• Resolution fixing date for a meeting on the proposition to authorize a Loan and
Disbursement Agreement and the issuance of Notes to evidence the obligations of the
City thereunder.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
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September 8, 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 50703, at 5:30 P.M., on the
above date. There were present Mayor Dave Boesen, in the chair, and the following named
Council Members:
Mr. Schmitt (via Zoom), Mr. Morrow, Ms. Creighton -Smith, Ms.
Berry, Mr. Salamanca, Mr. Martin and Mr. 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 AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $3,968,000
SEWER REVENUE CAPITAL LOAN NOTES OF THE CITY OF WATERLOO, STATE OF
IOWA, 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, Martin, Creighton -Smith, Berry, Salamanca,
Martin and Simon
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 2026-476
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AND DISBURSEMENT
AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED
$3,968,000 SEWER REVENUE CAPITAL LOAN NOTES OF
THE CITY OF WATERLOO, STATE OF IOWA, 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 of a Loan and Disbursement Agreement and the
issuance of Sewer Revenue Capital Loan Notes, in the amount of not to exceed $3,968,000, as
authorized by Sections 384.24A and 384.83, of the Code of Iowa, for the purpose of providing
funds to pay costs of carrying out project(s) as hereinafter described; and
WHEREAS, the City has applied for a loan through the Iowa Water Pollution Control
Works Financing Program pursuant to which the Iowa Finance Authority has agreed to purchase
the City's Notes and has requested that such Notes be issued as a single Note in a denomination
equal to the total amount of the issue as authorized by Chapter 384 of the Code of Iowa; and
WHEREAS, the Loan and Disbursement Agreement and Notes shall be payable solely
and only out of the Net Revenues of the Municipal Sewer System and shall be a first lien on the
future Net Revenues of the Utility; and shall not be general obligations of the City or payable in
any manner by taxation and the City shall be in no manner liable by reason of the failure of the
Net Revenues to be sufficient for the payment of the Loan and Disbursement Agreement and
Notes; and
WHEREAS, before a Loan and Disbursement Agreement may be authorized and Sewer
Revenue Capital Loan Notes issued to evidence the obligations of the City, it is necessary to
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comply with the provisions of the Code of Iowa, as amended, and to publish a notice of the
proposal to issue such notes and of the time and place of the meeting at which the Council
proposes to take action for the authorization of the Loan and Disbursement Agreement and Notes
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 City Council meet in the Council Chambers, City Hall, 715 Mulberry
Street, Waterloo, Iowa 50703, at 5:30 P.M., on the 5th day of October, 2026, for the purpose of
taking action on the matter of the authorization of a Loan and Disbursement Agreement and the
issuance of not to exceed $3,968,000 Sewer Revenue Capital Loan Notes to evidence the
obligations of the City thereunder, the proceeds of which notes will be used to provide funds to
pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving,
repairing and equipping all or part of the Municipal Sewer System, including those costs
associated with the Cattle Congress Sanitary Sewer Lift Station Reconstruction Project.
Section 2. 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 Notes.
Section 3. The notice of the proposed action to issue notes shall be in substantially the
following form:
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(To be published between: September 15, 2026 and October 1, 2026)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF
NOT TO EXCEED $3,968,000 SEWER REVENUE CAPITAL
LOAN NOTES, AND THE PUBLIC HEARING ON THE
AUTHORIZATION AND 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 5th day of October, 2026, at 5:30 P.M., in the Council
Chambers, City Hall, 715 Mulberry Street, Waterloo, Iowa 50703, at which meeting the City
Council proposes to take additional action for the authorization of a Loan and Disbursement
Agreement by and between the City and the Iowa Finance Authority and the issuance to the Iowa
Finance Authority of not to exceed $3,968,000 Sewer Revenue Capital Loan Notes, to evidence
the obligations of the City under said Loan and Disbursement Agreement, in order to provide
funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling,
improving, repairing and equipping all or part of the Municipal Sewer System, including those
costs associated with the Cattle Congress Sanitary Sewer Lift Station Reconstruction Project.
The Notes will not constitute general obligations or be payable in any manner by taxation, but
will be payable from and secured by the Net Revenues of the Municipal Sewer System.
At the above meeting the City 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 City Council will at this meeting or at any adjournment thereof,
take additional action for the authorization of a Loan and Disbursement Agreement and the
issuance of the Notes to evidence the obligation of the City thereunder or will abandon the
proposal to issue said Notes.
This Notice is given by order of the City Council of the City of Waterloo, State of Iowa,
as provided by Sections 384.24A and 384.83 of the Code of Iowa, as amended.
Dated this 8t1i day of September, 2026.
Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
(End of Notice)
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PASSED AND APPROVED this 8th day of September, 2026.
Signed by:
Nvud, 15m-st,in,
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Dave Boesen, Mayor
ATTEST:
Signed by:
K<[liy. Fe[d&
rrGO COFF-B 4Ag...
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 City 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 public hearing and tentative agenda, a copy of which was timely served on each
member of the Council and posted 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 8th day of September,
2026.
(SEAL)
Signed by:
Kd[ey. Fi[d[e
11 Kelley Felchle, City Clerk, City of Waterloo,
State of Iowa
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(SEAL)
o c W.
o
4896-7704-1352-1 \11310-186
STATE OF IOWA
COUNTY OF BLACK HAWK
CERTIFICATE
)
) SS
)
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 MEETING OF THE CITY COUNCIL OF THE
CITY OF WATERLOO, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF
NOT TO EXCEED $3,968,000 SEWER REVENUE CAPITAL
LOAN NOTES, OF THE CITY OF WATERLOO, AND THE
PUBLIC HEARING ON THE AUTHORIZATION AND
ISSUANCE THEREOF
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:
September 24, 2026.
WITNESS my official signature at Waterloo, Iowa, this 24`h day of September, 2026.
Signed by:
letlicy f dellt
Kelley Fat le, City Clerk, City of Waterloo,
State of Iowa