Proceedings to Set Public Hearing for Series 2018A & B GO Bonds Copyrighted
February 5, 2018
City of Dubuque Items to be set for Public Hearing # 1.
ITEM TITLE: Proceedings to Set Public Hearing for Series 2018A& B
General Obligation (GO) Bonds
SUMMARY: City Manager recommending that the City Council set a
public hearing for February 19, 2018, on the proposition of
selling not to exceed $12,750,000 General Obligation
Bonds.
RESOLUTION Fixing date for a meeting on the proposition
of the issuance of not-to-exceed $12,750,000 General
Obligation Bonds of the City of Dubuque, State of lowa (for
Essential Corporate Purposes), and providing for
publication of notice thereof
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt
Resolution(s), Set Public Hearing for February 19, 2018
ATTACHMENTS:
Description Type
General Obligation Bonds Series 2018 A and B-NNM City Manager Memo
Memo
Set Public Hearing Memo 2018AB $12,750,000 Staff Memo
Executed Letter of Instruction from Ahlers Supporting Documentation
Fix date proceedings 2018 A/B GO Bonds not to Resolutions
exceed $12,750,000
Notice of Hearing Fix Date Supporting Documentation
THE CITY OF Dubuque
�
AIFA�erlwGh
UB E '�� III►
Masterpiece on the Mississippi Z°°'�w'2
7A13 2017
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$12,750,000 General Obligation Bonds, Series 2018A & B
DATE: January 31 , 2018
Finance Director Jean Nachtman recommends the City Council set a public hearing for
February 19, 2018, on the proposition of selling not to exceed $12,750,000 General
Obligation Bonds
Of the bond amount:
• $200,000 is intended to provide funds to pay costs for the acquisition of radios for
the transit and public works departments.
• $10,055,000 is intended to provide funds to refund previously issued bond series
that are now callable to realize interest savings of$259,228. The refunding
includes General Obligation Series 2011 A $4,710,000; Series 2012E $2,625,000;
Series 2012H $1 ,735,000; and Series 2011 B $985,000.
• $170,120 is intended to provide funds for bond issuance costs
• $4,880 to be a contingency for fluctuations in the bond market for interest rates,
bond issuance costs and change in project costs.
• $2,320,000 in additional bonds (Series 2012F and 20121) that are callable, but
not currently generating savings. The not to exceed amount has been sized to
allow the inclusion of these bonds in the event the market changes in the City's
favor to allow for inclusion of them in the issuance.
Although the City is selling General Obligation Bonds to support the projects,
repayments of the debt will be funded by Sales Tax 20°k. The refunding debt is repaid
by debt service levy, sold waste collection fees, road use tax, stormwater user fees,
sanitary sewer user fees, water user fees, parking user fees, Dubuque Industrial Center
tax increment revenue, and Greater powntown tax increment revenue.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
�� �� ���
Mic ael C. Van Milligen �� �
MCVM:jh
Attachment
cc: Crenna Brumwell, City Attorney
Teri Goodmann, Assistant City Manager
Cori Burbach, Assistant City Manager
Jean Nachtman, Finance Director
2
Dubuque
THE CITY OP �
DUB E 'ill�'
MasYerpiece on the Mississippi m._°'�
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TO: Michael C. VanMilligen, City Manager
FROM: Jean Nachtman, Finance Diredor
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$12,75Q000 General Obligation Bonds, Series 2018A & B
DATE: January 3Q 2018
Introduction
The purpose of the memorandum is to recommend the setting of a public hearing on the
proposal to issue General Obligation Bonds, the proceeds ofwhich will be used for
general coryorate puryoses of the City for projeds in the City budget previously
approved by the City Council.
Discussion
Of the bond amount:
• $20Q000 is intended to provide funds to pay costs for the acquisition of radios for
the transit and public works departments.
• $1Q055,000 is intended to provide funds to refund previously issued bond series
that are now callable to realize interest savings of$259,228. The refunding
includes General Obligation Series 2011A $4,71Q000; Series 2012E $2,625,000;
Series 2012H $1,735,000; and Series 2011 B $985,000.
• $17Q120 is intended to provide funds for bond issuance costs
• $4,880 to be a contingency for fluduations in the bond market for interest rates,
bond issuance costs and change in projed costs.
• $2,32Q000 in additional bonds (Series 2012F and 20121) that are callable, but
not currently generating savings. The not to exceed amount has been sized to
allow the inclusion of these bonds in the event the market changes in the Citys
favor to allow for inclusion of them in the issuance.
Although the City is selling General Obligation Bonds to support the projects,
repayments of the debt will be funded by Sales Tax 20%. The refunding debt is repaid
by debt service levy, sold waste colledion fees, road use tae, stormwater user fees,
sanitary sewer user fees, water user fees, parking user fees, Dubuque Industrial Center
tax increment revenue, and Greater powntown tax increment revenue.
Recommendation
I respectfully recommend the adoption of the enclosed resolutions fixing the date of
February 19�h, 2018 for a public hearing on the proposition of selling not to exceed
$12,750,000 General Obligation Bonds and providing publication of notice.
TLL
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Teri Goodman, Assistant City Manager
Jenny Larson, Budget Director
Alilers &Cooney, P.C.
� � Iq H L E R S G'O O N E Y Attorneys at Law
� 100 Court Avenue, Suite 600
_. A l- l" [J I� N E Y S Des Moines, lowa 50309-2231
Phone: 515-243-7611
Fax: 515-243-2149
www.ahlerslaw.com
Kristin B. Cooper
515.246.0330
kcooper@ahlerslaw.com
January 26, 2018
Ms. Jenny Larson
Budget Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001
Re: Dubuque, Iowa - Not to Exceed $12,750,000 General Obligation Bonds
Dear Jenny:
We have now prepared and are enclosing suggested proceedings to be acted upon by the
Council in fixing the date of a meeting on the proposition to issue the above mentioned bonds
and ordering publication of a notice of hearing consistent with the provisions of Code Section
384.25 (See publication requirement.)
I'ttblicaticlz� Reytiir�n�t�i7t - Notic� c�f l icarii��,.
Notice of this meeting must be published at least once in a legal newspaper, printed
wholly in the English language, puUlished at least once weekly, and having general circulation in
the City. The datc ai���tihlicatinil is to be ii��t lcss ti7an li��ir clear cl�iys i�or n�care Ili�in lwei�ty d�iys
before the date of the public ineeting on the issuance of the bonds. In computing time, the date
of publication should be excluded. If the last day falls on Sunday, the whole of the following
Monday should be excluded. [See Section ICS 4.1(34).]
At the tiine of hearing the Council shall receive oral or written objections fi•om any
resident or property owner to the proposed action to issue the bonds. After all objections have
been received and considered, the Council is required, at that meeting or at any adjournment
thereof, to take additional action for the issuance of the bonds or to abandon the proposal to issue
the bonds.
The Council is required by statute to adopt the resolution instituting proceedings to issue
the bonds at the hearing or an adjournment thereof.
Also enclosed is an extra copy of the proceedings to be filled in as the original and
certified back to this office, together with publisher's affidavit of publication of notice of hearing.
WISHARD $i BAILV - 1888: GUERNSEY �. BAILY - 1893: BAILV & STIPP - 1901; STIPP� PCRRY� BANNIS"fER & STARZINGER - 1914; BANNISTER� CARPENTER,
AIILERS Si COONEY - 1950; AHLERS, COONEY, DORWEIIER, AILCiCG, HAYNIF_ & SMITH - 1974; AHLFRS, COONEV, DORWEILEli� HAYNIf_, SMITH & ALLBEE, P.C. - 1990
January 26, 2U 1�
Pagc 2
We are also enclosin an extra co of tlie notiee of hearin to be c3e[ive��ecl to the
�ic�vs �.� i4i� fc�r zilalic.:tinn }ur•�rtsc.s. A certificate to attest the proceedings is also enclosed.
We will prepare and forward to you in the near future, suggested procedure to be acted
upon on the date of hearing. If you have any questions pertaining to the proceedings enclosed or
the above instructions, please do not hesitate to either write or call.
Very truly yours,
Ahlers & Cooney, P.C.
i� islin Billingsley Cooper
E�(JR THE FIRM
KBC:seb
Enclosures .
cc: Jean Nachtman, City of Dubuque (via e-mail w/enc.)
Kevin Firnstahl, City of Dubuque (via e-mail w/enc.)
Tionna Pooler, Independent Public Advisors (via e-mail w/enc.)
01446143-1U 0422-190
ITEMS TO INCLUDE ON AGENDA
CITY OF DUBUQUE, IOWA
Not to Exceed $12,750,000 General Obligation Bonds
• Resolution fixing date for a meeting on the proposition to issue.
NOTICE MUST BE GIVEN PURSUANT TO IOWA CODE
CHAPTER 21 AND THE LOCAL RULES OF THE CITY.
February 5, 2018
The City Council of the City of Dubuque, State of Iowa, met in regular session, in the
Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at 6:00 P.M., on the above date.
There were present Mayor Roy D. Buol, in the chair, and the following named Council
Members:
Del Toro, Jones, Larson, Resnick, Rios, Shaw
Absent:
Vacant:
1
Council Member Resnick introduced the following Resolution entitled "RESOLUTION
FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT
TO EXCEED $12,750,000 GENERAL OBLIGATION BONDS OF THE CITY OF DUBUQUE,
STATE OF IOWA (FOR ESSENTIAL CORPORATE PURPOSES), AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF", and moved that the same be adopted. Council
Member Del Toro seconded the motion to adopt. The roll was called and the vote was,
AYES: Jones, Buol, Resnick, Rios, Shaw, Larson, Del Toro
NAYS:
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 28-18
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$12,750,000 GENERAL OBLIGATION BONDS OF THE CITY
OF DUBUQUE, STATE OF IOWA (FOR ESSENTIAL
CORPORATE PURPOSES), AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Dubuque, State of
Iowa, should issue General Obligation Bonds, to the amount of not to exceed $12,750,000, 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.
2
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, STATE OF IOWA:
That this Council meet in the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at
6:30 P.M., on the 19t'' day of February, 2018, for the purpose of taking action on the matter of
the issuance of not to exceed $12,750,000 General Obligation Bonds, for essential corporate
purposes, the proceeds of which bonds will be used to provide funds to pay the costs of
equipping the public works and transit departments, including the acquisition of emergency radio
equipment and systems; and refunding or refinancing certain outstanding indebtedness of the
City, including General Obligation Bonds, Series 2011A, dated September 1, 2011, General
Obligation Bonds, Series 2012E, dated December 10, 2012, General Obligation Urban Renewal
Bonds, Series 2012H, dated December 10, 2012, Taxable General Obligation Bonds, Series
2011B, dated September 1, 2011, Taxable General Obligation Bonds, Series 2012F, dated
December 10, 2012, and Taxable General Obligation Refunding Bonds, Series 2012I, dated
December 4, 2012.
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"
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:
3
(To be published between: February 6, 2018 and February 14, 2018)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF DUBUQUE, STATE OF IOWA, ON THE MATTER
OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$12,750,000 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 Dubuque, State of
Iowa, will hold a public hearing on the 19th' day of February, 2018, at .M., in
the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at which meeting the
Council proposes to take additional action for the issuance of not to exceed $12,750,000 General
Obligation Bonds, for essential corporate purposes, to provide funds to pay the costs of
equipping the public works and transit departments, including the acquisition of emergency radio
equipment and systems; and refunding or refinancing certain outstanding indebtedness of the
City, including General Obligation Bonds, Series 2011A, dated September 1, 2011, General
Obligation Bonds, Series 2012E, dated December 10, 2012, General Obligation Urban Renewal
Bonds, Series 2012H, dated December 10, 2012, Taxable General Obligation Bonds, Series
2011B, dated September 1, 2011, Taxable General Obligation Bonds, Series 2012F, dated
December 10, 2012, and Taxable General Obligation Refunding Bonds, Series 2012I, dated
December 4, 2012.
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 is given by order of the City Council of the City of Dubuque, State of Iowa,
as provided by Section 384.25 of the Code of Iowa.
Dated this
day of , 2018.
City Clerk, City of Dubuque, State of Iowa
(End of Notice)
4-
PASSED AND APPROVED this 5th day of February, 20) 8.
Mayor
ATTEST:
fry 0 t,/
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF DUBUQUE
I, the undersigned City Clerk of the City of Dubuque, 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 affixes this 6th da of February,
2018.
City Cl‘rk, City of Dubuque, S ate of Iowa
CITY OF DUBUQUE, IOWA
OFFICIAL NOTICE
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE
OF IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED
$12,750,000 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 Dubuque, State of
Iowa, will hold a public hearing on the 19th day of February, 2018, at 6:00 P.M., in the
Historic Federal Building, 350 W. 6th Street, Dubuque, Iowa, at which meeting the Council
proposes to take additional action for the issuance of not to exceed $12,750,000 General
Obligation Bonds, for essential corporate purposes, to provide funds to pay the costs of
equipping the public works and transit departments, including the acquisition of
emergency radio equipment and systems; and refunding or refinancing certain
outstanding indebtedness of the City, including General Obligation Bonds, Series 2011A,
dated September 1, 2011, General Obligation Bonds, Series 2012E, dated December 10,
2012, General Obligation Urban Renewal Bonds, Series 2012H, dated December 10,
2012, Taxable General Obligation Bonds, Series 2011B, dated September 1, 2011,
Taxable General Obligation Bonds, Series 2012F, dated December 10, 2012, and
Taxable General Obligation Refunding Bonds, Series 20121, dated December 4, 2012.
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.
Copies of supporting documents for the public hearings are on file in the City Clerk's
Office, City Hall, 50 W. 13th St., Dubuque, Iowa, and may be viewed during normal
working hours.
Any visual or hearing-impaired persons needing special assistance or persons with
special accessibility needs should contact the City Clerk's Office at (563) 589-4100 or
TDD (563) 690-6678 at least 48 hours prior to the meeting.
This notice is given by order of the City Council of the City of Dubuque, State of Iowa,
as provided by Section 384.25 of the Code of Iowa.
Dated this 5th day of February, 2018.
/s/Kevin S. Firnstahl
City Clerk, City of Dubuque, State of Iowa
1t 2/9
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF DUBUQUE
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 Dubuque, in the County of
Dubuque, State of Iowa, and that as such Clerk and by full authority from the Council of the
City, I have caused a
NOTICE OF PUBLIC HEARING
(Not To Exceed $12,750,000 General Obligation Bonds)
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 Telegraph Herald, 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:
February 9, 2018.
WITNESS my official signature this / day of �/ � `, 2018.
01446140-1\10422-190
City Cle y of Dub tu.e, State of Iowa
STATE OF IOWA {SS:
DUBUQUE COUNTY
CERTIFICATION OF PUBLICATION
I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher
of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County
of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper
on the following dates: February 09, 2018, and for which the charge is $36.23.
Subscribed to before me, a Notary Public in and for Dubuque County, Iowa,
this /rnie day off , 20 /0 .
Notary Public in and for Dubuque County, Iowa.
IaE}ykC ESTE (vEYER
9'4%iSssifiil Nr.:'`otraY 15/035
"ommission Exp. F.O. I, 2020
i,.a,
CITY OF DUBUQUE,
IOWA.
OFFICIAL NOTICE
NOTICE OF MEETING
OF THE . CITY COON=
CIL OF THE CITY OF
DUBUQUE, STATE OF
IOWA, ON THE MAT-
TER OF THE PRO-
POSED ISSUANCE OF
NOT TO EXCEED
$12,750;000 GENERAL
OBLIGATION BONDS
OF THE CITY (FOR ES-
SENTIAL CORPOR-
ATE PURPOSES), AND
THE HEARING ON THE
ISSUANCE THEREOF
PUBLIC NOTICE is
hereby given that the
City Council of the City
of Dubuque, State of
Iowa, will hold a public
hearing on the 19th
day of February,,2018,
at 6;00-P,M., in the His-
toric Federal Buiiding,1
350 W. 6th Street, Du-,
buque„Iowa, at which!'',
meeting the Council
proposes to take addi-
tional action for the is-
suance of not to ex-
ceed $12,750,000 Gen-
eral Obligation Bonds
for essential corporate.
purposes,: to provide
funds to pay the costs
of equipping the public
works and transit, de-
partments, ,including
the acquisition of
emergency radio
equipment ' and- sys-
tems; and, efunding;or
refinancing 'certain'
outstanding indebted-
ness,of the City, includ-
ing General Obligation
Bonds, Series 2011A,
dated September ' 1,
2011, General Obliga-
tion Bonds, Series
2012E, dated Decem-
ber 10, 2012, General
Obligation'.,. Urban . Re-
newal Bonds, Series
2012H, dated. Decem-
ber 10, 2012, Taxable
Generali Obligation
Bonds, , Series 2011B,
dated September 1,
2011 , Taxable General
Obligation -Bonds, Ser-
ies 2012F, dated
eries'.2012F,'dated 'r De-
cember 10,E 2012, and
Taxable General •Obli
gation Refunding
Bonds, Series 20121,
dated December 4,
2012.
At the above meeting
the Council shall, .re-
ceive oral or written'
objections from any
resident or property
owner of the City to
the above action. After
all objections have
been received and con-
sidered, - 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.
Copies of supporting
documents for the pub-
lic hearings are on file
in the City Clerk's Of-
fice, City Hall, 50 W.
•
13th St., Dubuque, Io-
wa, and may be viewed
during normal working
hours. j
Any visual' or hearing-
impaired persons
needingspecial assis-
tance or persons with
special accessibility'.
needs should contact
the City Clerk's office
at (563) 588-4100 or'',
TDD (563)''690-6678 at
least 48 hours prior to
the meeting.
This notice is given by
order of the City Coun-
cil of the City, of Dubu-
que, State of Iowa, as !,
provided by Section
384.25 of the Code of
Iowa.
Dated this 5th day of
February, 2018.
/s/Kevin S. Firnstahl
City Clerk,
City of Dubuque,
State of Iowa I
1t 2/9 i,