HomeMy WebLinkAbout2017-145-2/27/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo,IA 50703, (319)291-4323.
RESOLUTION NO. 2017-145
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $11
MILLION GENERAL OBLIGATION BONDS OF THE CITY OF
WATERLOO, STATE OF IOWA (FOR GENERAL
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 issue General Obligation Bonds, to the amount of not to exceed $11,000,000, as
authorized by Section 384.25 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:
That this Council meet in the Council Chambers, City Hall, 715 Mulberry Street,
Waterloo, Iowa, at 5:30 P.M., on the 9t`day of March, 2017, for the purpose of taking
action on the matter of the issuance of not to exceed$11,000,000 General Obligation
Bonds, for essential corporate purposes,the proceeds of which bonds will be used to
provide funds to pay the costs of the acquisition, improvement and installation of traffic
control devices, signage, fixtures, equipment and improvements, including but not limited
to traffic signal,pavement markings,traffic safety, fiber optics installation, and street
light fixtures, connections, and facility improvements; 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 Midland lift
station and force main construction, anaerobic lagoon cover replacement, and final
clarifier upgrades;the acquisition of vehicles and equipment for the Police and Fire
Rescue Departments; the rehabilitation and improvement of City parks and the
acquisition,repair and replacement of facilities, equipment and improvements commonly
found in City parks; the removal, replacement and planting of trees in parks and public
grounds;the construction,reconstruction and repairing of street, sidewalk, alley,public
ground,marketplace,bridge,pedestrian underpass and overpass repairs and
reconstruction, and intersection improvements;the acquisition, construction and
improvement of real and personal property useful for the protection of property from
floods or high waters, including flood control, levees, embankments, waterway, storm
water and drainage improvements; the removal or replacement of dead or diseased trees;
the acquisition and demolition of dangerous or dilapidated buildings, structures or
properties, or funding multi-family housing assistance; and refunding or refinancing
outstanding debt, including General Obligation Bonds, Series 2009A(Taxable Build
America Bonds) dated June 24, 2009.
Section 1. 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 Division III of
Chapter 384 of the Code of Iowa,the Council hereby elects the "essential corporate purpose"
Resolution 2017-145
Page 2
classification and procedure with respect to each such project or activity,pursuant to Section
384.28 of the Code of Iowa.
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 Bonds.
Section 3. The notice of the proposed action to issue bonds shall be in substantially the
following form:
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
$11,000,000 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 9t' day of March,2017, 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$11,000,000 General Obligation Bonds, for
essential corporate purposes,to provide funds to pay the costs of the acquisition, improvement
and installation of traffic control devices, signage, fixtures, equipment and improvements,
including but not limited to traffic signal,pavement markings,traffic safety, fiber optics
installation, and street light fixtures, connections, and facility improvements; 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 Midland lift
station and force main construction, anaerobic lagoon cover replacement, and final clarifier
upgrades; the acquisition of vehicles and equipment for the Police and Fire Rescue Departments;
the rehabilitation and improvement of City parks and the acquisition, repair and replacement of
facilities, equipment and improvements commonly found in City parks; the removal, replacement
and planting of trees in parks and public grounds;the construction, reconstruction and repairing
of street, sidewalk, alley,public ground, marketplace, bridge,pedestrian underpass and overpass
repairs and reconstruction, and intersection improvements; the acquisition, construction and
improvement of real and personal property useful for the protection of property from floods or
high waters, including flood control, levees, embankments,waterway, storm water and drainage
improvements;the removal or replacement of dead or diseased trees; the acquisition and
demolition of dangerous or dilapidated buildings, structures or properties, or funding multi-
family housing assistance; and refunding or refinancing outstanding debt, including General
Obligation Bonds, Series 2009A (Taxable Build America Bonds) dated June 24, 2009.
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 isiven b
g y order of the City Council of the City of Waterloo, State of Iowa,
as provided by Section 384.25 of the Code of Iowa.
Resolution 2017-145
Page 3
Dated this 27th day of February, 2017.
Kelley Felerty Clerk, City of Waterloo,
State of Iow
l(
(End of Notice)
PASSED AND APPROVED this 27th day of February, 2017.
L
Quentin Hart, Mayor
ATTEST:
Kelley Felchl City Clerk