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Home My WebLink About2014-353-5 /12/2014(This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of the City of Waterloo, State of Iowa. Date of Meeting: May 12, 2014. Time of Meeting: 5:30 P.M. Place of Meeting: Law Court Theater, Waterloo Center for the Arts, Waterloo, Iowa. PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental body will meet at the date, time and place above set out. The tentative agenda for the meeting is as follows: Not To Exceed $1,700,000 General Obligation Bonds (ECP -UR) • Public hearing on the issuance. • Resolution instituting proceedings to take additional action. Such additional matters as are set forth on the additional 5 page(s) attached hereto. This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of Iowa, and the local rules of the governmental body. J 11 � uzy Schajes, CMC City Clerk May 12, 2014 The City Council of the City of Waterloo, State of Iowa, met in regular session, in the Law Court Theater, Waterloo Center for the Arts, Waterloo, Iowa, at 5:30 P.M., on the above date. There were present Mayor Ernest G. Clark, in the chair, and the following named Council Members: Cole, Schmitt, Lind, Morrissey, Welper, Hart Absent: Jones - 1 - The Mayor announced that this was the time for meeting on the matter of the issuance of not to exceed $1,700,000 General Obligation Bonds, of the City of Waterloo, State of Iowa, in order to provide funds to pay costs of the aiding in the planning, undertaking and carrying out of urban renewal project activities under Chapter 403 of the Code of Iowa, as amended, and the Urban Renewal Plans for the Downtown Waterloo Riverfront Urban Renewal and Redevelopment Area, the Logan Avenue Urban Renewal Area and Redevelopment Plan, the NE Industrial Area Development Plan, and the Rath Area Redevelopment Plan, such as those costs associated with land acquisition, public infrastructure projects, including streets, streetscape, and utility improvements, including for the following projects: the downtown development plan, downtown acquisitions, continuation of the Rath project, demolition costs, and the NE Industrial Park project, and that notice had been published as provided by Section 403.12 and Section 384.25 of the Code of Iowa, of the proposal to issue the bonds and the right to petition for an election. The Mayor then asked the Clerk whether any petition had been filed in the Clerk's office, as contemplated in Section 384.26 of the Code of Iowa, and the Clerk reported that no such petition had been filed, requesting that the question of issuing the bonds be submitted to the qualified electors of the City. The Mayor then asked the Clerk whether, pursuant to Section 384.25 of the Code of Iowa, any written objections had been filed by any city resident or property owner of the City resident, 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 none were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed. (Attach here a summary of objections received or made, if any) -2- Whereupon, the Mayor declared the hearing on the issuance of the bonds to be closed. Whereupon, Council Member Hart introduced and delivered to the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION AND ISSUANCE OF NOT TO EXCEED $1,700,000 GENERAL OBLIGATION BONDS", and moved its adoption. Council Member Welper seconded the motion to adopt. The roll was called and the vote was, AYES: Cole, Schmitt, Lind, Morrissey, Welper, Hart NAYS: none Whereupon, the Clerk declared the measure duly adopted. RESOLUTION NO. 2014-353 RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION AND ISSUANCE OF NOT TO EXCEED $1,700,000 GENERAL OBLIGATION BONDS WHEREAS, pursuant to notice published as required by law, this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of not to exceed $1,700,000 General Obligation Bonds, for the purpose of paying costs of the aiding in the planning, undertaking and carrying out of urban renewal project activities under Chapter 403 of the Code of Iowa, as amended, and the Urban Renewal Plans for the Downtown Waterloo Riverfront Urban Renewal and Redevelopment Area, the Logan Avenue Urban Renewal Area and Redevelopment Plan, the NE Industrial Area Development Plan, and the Rath Area Redevelopment Plan, such as those costs associated with land acquisition, public infrastructure projects, including streets, streetscape, and utility improvements, including for the following projects: the downtown development plan, downtown acquisitions, continuation of the Rath project, demolition costs, and the NE Industrial Park project, and no petition was filed calling for a referendum thereon. The following action is now considered to be in the best interests of the City and residents thereof: NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, STATE OF IOWA: Section 1. That pursuant to Section 384.25 of the Code of Iowa 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 $1,700,000 General Obligation Bonds, for the foregoing purpose. -3- 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 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 ADOPTED this 12t` day of May, 2014. ATTEST: 1 � Suzy Schares, MC City Clerk Ernest G. Clark, Mayor M 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 corporate 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 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 (a copy of the face sheet of the agenda being attached hereto) 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 City hereto affixed this 12th day of May, 2014. Suzy Schares, CMC City Clerk (SEAL) 010159927-1\11310-101