Proceedings to Set Public Hearing on October 21, 2024, for the Issuance of Not to Exceed $27,000,000 Sewer Revenue Capital Loan Notes (State Revolving Loan Fund Program) Old Mill Rd. Lift Station and Force Main Project – Phase ICity of Dubuque
City Council
ITEM TITLE:
SUMMARY:
SUGGUESTED
DISPOSITION:
Copyrighted
October 7, 2024
ITEMS SET FOR PUBLIC HEARING # 1.
Proceedings to Set Public Hearing on October 21, 2024, for
the Issuance of Not to Exceed $27,000,000 Sewer Revenue
Capital Loan Notes (State Revolving Loan Fund Program)
Old Mill Rd. Lift Station and Force Main Project — Phase
City Manager recommending that a public hearing be set for
October 21, 2024, on the issuance of a not to exceed
$27,000,000 Sewer Revenue Capital Loan Notes, State
Revolving Loan Fund Program, the proceeds of which will be
used to fund the Old Mill Road Lift Station and Force Main
Project projects.
RESOLUTION To fix a date for a public hearing on proposal
to enter into a Sewer Revenue Loan and Disbursement
Agreement and to borrow money thereunder in a principal
amount not to exceed $27,000,000
Receive and File; Adopt Resolution(s), Set Public Hearing for
October 21, 2024
ATTACHMENTS:
1. Old Mill Rd LS SRF Set Public Hearing_MVM Memo_2024_10_02
2. Old Mill Rd LS SRF Set Public Hearing_Staff memo_2024_10_02
3. 1st Half Set Hrg Sewer Rev LDA (Old Mill) (Dubuque #9 2024)-v3
Page 333 of 674
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
litLid
All -Merin City
11
2007.2012*2013
2017*2019
SUBJECT: Proceedings to Set Public Hearing on October 21, 2024, for the Issuance
of Not to Exceed $27,000,000 Sewer Revenue Capital Loan Notes (State
Revolving Loan Fund Program) Old Mill Rd. Lift Station and Force Main
Project — Phase I
DATE: October 2, 2024
Chief Financial Officer Jennifer Larson recommends that a public hearing be set for
October 21, 2024, on the issuance of a not to exceed $27,000,000 Sewer Revenue
Capital Loan Notes, State Revolving Loan Fund Program, the proceeds of which will be
used to fund the Old Mill Road Lift Station and Force Main Project projects.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Gus Psihoyos, City Engineer
Brian DeMoss, Finance Manager
Page 334 of 674
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Chief Financial Officer
Dubuque
All -America City
h l!
2007 • 2012 • 2013
SUBJECT: Proceedings to Set Public Hearing on October 21, 2024 for the Issuance of
Not to Exceed $27,000,000 Sewer Revenue Capital Loan Notes (State
Revolving Loan Fund Program) Old Mill Rd. Lift Station and Force Main
Project — Phase I
DATE: October 2, 2024
INTRODUCTION
The purpose of this memorandum is to provide suggested proceeding to set a public
hearing on the issuance of a not to exceed $27,000,000 Sewer Revenue Capital Loan
Notes.
BACKGROUND
The older sections of the Catfish Creek Sanitary Sewer (CCSS) that deliver wastewater to
the Catfish Creek Pump Station (CCPS) were constructed circa late 1960s. It is common for
sanitary sewer pipes to remain in service for 60 years or longer. However, when sizing an
interceptor sewer, it is not common to design it to handle predicted flows more than 50 years
into the future, most often a 25-year timespan is considered. The CCPS was last upgraded
in 1995 based on predicting growth over the next 20-30 years, consistent with a 25-year life
for a lift station.
Despite challenges due to terrain (i.e. steep slopes, bluffs, shallow rock, etc.), the City has
experienced significant growth within the Catfish Creek sewer shed in the last 20 years.
Based on land use mapping in GIS, and only considering development that has occurred
over the last twenty years, within the tributary area, the design flow to the CCSS and the
CCPS has grown by 6.5 MGD (million gallons per day) since the pump station was last
upgraded in 1995 to a capacity of 8.0 MGD.
Due to potential development area within the CCSS tributary area, the City hired Strand
Associates, Inc. (Strand) in late 2018 to develop a better understanding of the hydraulic
capacity of the Catfish Creek Sanitary Sewer collection system. The analysis of the CCSS
and the CCPS involved the implementation of a flow metering program and the development
Page 335 of 674
of a sanitary sewer model. One of the things that the computer model revealed is that some
wet weather events will result in the flow rising above the top of the pipe, at certain locations,
such that the sanitary system becomes pressurized which is an indicator of possible SSO's
In late December of 2020, Strand provided the City with final drafts of both the study, for
Catfish Creek Sanitary Sewer collection system, and a more focused technical memo which
evaluated the effect of adding new industrial flow to the existing system.
On January 4, 2021, a State Revolving Fund (SRF) Planning and Design Loan Intended
Use Plan (IUP) application in the amount of $350,000 was submitted to the State for the
"Catfish Creek Lift Station & Force Main Project (that) involves system improvements to
address wet -weather related overflows at the Catfish Creek Lift Station and provide capacity
for future development within the Catfish Creek sewer shed".
On April 28, 2021, the City authorized Strand Task Order One, which provided for the
development of a facility plan and design of the Old Mill road lift station to a 30% level. This
level of design provided the City with a basis of design, a refined cost estimate, and the
necessary information to allow the City to submit a facility Plan to IDNR to begin the SRF
construction loan process. The 30% design followed the recommended improvement option
identified in the January 7, 2021, memo regarding the results of the Catfish Creek Sanitary
Sewer Interceptor system study, which evaluated the existing system capacity and identified
improvements to ensure that it has adequate capacity for existing developments and for
growth throughout the tributary area.
The City of Dubuque submitted a facility plan to Iowa Department of Natural Resources
(IDNR), in May of 2021, for the construction of a 20 MGD sanitary sewer lift station and 30"
dual force mains. The facility plan is based on the results of an intensive evaluation of the
existing interceptor collection and pumping systems that transport sewage to the Water
Resource Recovery Center (WRRC). Several options were considered, and the City chose
to proceed with the design and construction of the Old Mill Road Lift Station and Force Main
Project, a recommended option. At the June 7, 2021, the City Council meeting, the City
Council approved the facility plan and IUP application for the Old Mill Rd. Lift Station and
Force Main Project.
Through the RFP process, Strand Associates, Inc (Strand) was selected and in February of
2022, the City entered into an agreement with Strand Associates to complete the final design
of; the lift station, force main structures, modifications to WRRC headworks, assist City staff
with bidding services and with railroad permitting for the horizontal bores under the railroad
tracks. City Staff provided the site and utility design for the remainder of the project, along
with all coordination with IDNR and property acquisitions.
Part of the SRF process is to complete an environmental review for the effected project
area, which is conducted by IDNR staff along with other state agencies. One of the items
that is looked at is the history of the area to determine the historical significance of the area,
if any. The Office of the State Archaeologist (OSA) conducted a phase I archaeological
study, due to a portion of the project alignment running through the old Town of Rockdale.
Some artifacts, from the settlement, were recovered and it was determined that a more in -
Page 336 of 674
depth phase II study was warranted. OSA and the State Historic Preservation Office
(SHPO) directed the City to complete a Phase II archeological study. Due to the results of
the phase II study, it was determined that an alternate alignment needed to be evaluated to
avoid the Town of Rockdale. Once the alternate alignment was selected, a second phase
II archeological study was completed for the alternate alignment. The alternate alignment
was cleared by SHPO, and the design was able to be completed for the entire project.
Due to available funding and the funding being spread over five fiscal years, a revised facility
plan was submitted in May of 2024, that split the project into two phases. The first phase
being the lift station and site development and the second phase being the force mains, from
the lift station to WRRC, along with the force main structures. The revised facility plan was
approved by IDNR in June of 2024. The phased approach allows the City to begin with the
longest duration portion of the project, with currently available funding, and start the second
phase of the project a year later, when the remainder of the funding becomes available in
FY26 and FY27. The second phase is scheduled to be substantially complete prior to the
first phase completion.
DISCUSSION
The Old Mill Road Lift Station and Force Main Project is the first of several improvements
that are needed, within the Catfish Creek Interceptor Sewer system, to provide adequate
capacity to serve existing development, within the City, and to allow for additional flow from
future developments and the growth of the City.
The Old Mill Road Lift Station and Force Main Project is being funded utilizing ARPA funding
for the design portion of both phases I and II. The construction and construction
engineering, for phase I & II, will be funded utilizing State Revolving Fund (SRF) loan
proceeds
The Capital Improvement budget includes funding from FY22 thru FY 27 for both phases of
the Old Mill Rd. Lift Station and Force Main Project. Due to the expected duration of Phase
I a portion of the FY26 funding, in the amount of $3,649,944.34, is being utilized to fully fund
phase I. The remainder of the FY26 & FY27 budgets, $9,546,424.56, will be used to fund
Phase II construction under a separate SRF loan.
ACTION TO BE TAKEN
I respectfully recommend the adoption of the enclosed resolution fixing the date of October
21, 2024, for a public hearing on the proposed issuance not to exceed $27 million in Sewer
Revenue Capital Loan Notes (State Revolving Loan Fund Program) for the Old Mill Rd. Lift
Station and Force Main Project — Phase I.
Attachments
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Brian DeMoss, Finance Manager
Page 337 of 674
DORSEY
DORSEY+WHITNEY LLP
October 1, 2024
VIA EMAIL
Jenny Larson
Chief Financial Officer
Dubuque, Iowa
Re: $27,000,000 SRF Sewer Revenue Loan and Disbursement Agreement
File No. 430411-9
Dear Jenny:
We have prepared and attach proceedings for use at the October 7, 2024, City Council
meeting to set October 21, 2024, as the date for a hearing on the proposal to enter into the SRF
Sewer Revenue Loan and Disbursement Agreement (the "Agreement") in connection with the
Old Mill Lift Station Project.
The documents attached include the following items:
1. Resolution fixing the date of meeting at which it is proposed to take action to
enter into the Agreement. The form of notice is set out in Section 2 of the resolution.
2. Attestation Certificate with respect to the validity of the transcript.
3. Organization and Establishment Certificate.
4. Outstanding Debt Certificate with respect to the outstanding debt of the Sewer
Utility.
5. Publication Certificate with respect to publication of the notice, to which must be
attached the publisher's affidavit of publication with a clipping of the notice as published.
The notice must be published at least once, not less than four (4) and not more than
twenty (20) days before the meeting date set for the hearing, in a legal newspaper which has a
general circulation in Dubuque. The last date on which this notice can be effectively published
is October 17, 2024.
to me.
As soon as the notice appears in the newspaper, please have a copy scanned and emailed
8oi Grand Avenue I Suite 4.1oo I Dubuque, IA 15o3o9-2790 I T 515.283.100o I F 515.283.1o6o I dorsey.com
Page 338 of 674
Please return one fully executed copy of these proceedings to us as soon as they are
available.
Please call me if you have questions.
Best regards,
David D. Grossklaus
John P. Danos
Attachments
cc: Crenna Brumwell
Adrienne Breitfelder
Deron Muehring
Steve Brown
Todd Irwin
Tionna Pooler
Tracy Scebold
Tony Toigo
Lee Wagner
Rick Andriano
DORSEY & WHITNEY LLP
Page 339 of 674
Dubuque/ 430411-9/1""/2 - Sewer Rev
MINUTES TO SET DATE FOR HEARING
ON ENTERING INTO A LOAN AND
DISBURSEMENT AGREEMENT
430411-9 (N/I)
Dubuque, Iowa
October 7, 2024
The City Council of the City of Dubuque, Iowa, met on October 7, 2024, at 6:30 p.m., at
the Historic Federal Building, 350 W. 61h St, Second Floor Council Chambers, Dubuque, Iowa.
The Mayor presided and the roll was called showing the following members of the Council
present and absent:
Present: Mayor Cavanagh; Council Members Farber, Jones, Resnick, Roussell, Sprank,
Wethal.
Absent: None.
Council Member Roussell introduced the resolution hereinafter next set out and moved its
adoption, seconded by Council Member Wethal; and after due consideration thereof by the
Council, the Mayor put the question upon the adoption of the said resolution and the roll being
called, the following named Council Members voted:
Ayes: Resnick, Roussell, Sprank, Farber, Jones, Wethal, Cavanagh
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted as follows:
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 430411-9/1'"/2 - Sewer Rev
RESOLUTION NO.311-24
Resolution to fix a date for a public hearing on proposal to enter into a Sewer
Revenue Loan and Disbursement Agreement and to borrow money thereunder in a
principal amount not to exceed $27,000,000
WHEREAS, the City of Dubuque (the "City"), in Dubuque County, State of Iowa, did
heretofore establish a Municipal Sanitary Sewer System (the "Utility") in and for the City which
has continuously supplied sanitary sewer service in and to the City and its inhabitants since its
establishment; and
WHEREAS, the management and control of the Utility are vested in the City Council (the
"Council") and no board of trustees exists for this purpose; and
WHEREAS, pursuant to prior resolutions of the Council, the City has heretofore issued
sewer revenue bonds or notes as set forth on attached outstanding debt certificate, and a portion of
such prior sewer revenue debt remains outstanding (the "Outstanding Indebtedness"); and
WHEREAS, pursuant to the resolutions relating to and authorizing the Outstanding
Indebtedness (the "Outstanding Bond Resolutions") the City reserved the right to issue additional
obligations payable from the net revenues of the Utility and ranking on a parity with the
Outstanding Indebtedness under the terms and conditions set forth in the Outstanding Bond
Resolutions; and
WHEREAS, the City now proposes to enter into a Sewer Revenue Loan and Disbursement
Agreement (the "Agreement") and to borrow money thereunder in a principal amount not to exceed
$27,000,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose
of paying the cost, to that extent, of planning, designing and constructing improvements and
extensions to the Utility (the "Project'), and it is necessary to fix a date of meeting of the Council
at which it is proposed to take action to enter into the Agreement and to give notice thereof as
required by such law;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Dubuque, Iowa,
as follows:
Section 1. This City Council shall meet on October 21, 2024, at 6:30 p.m., at the
Historic Federal Building, 350 W. 61h St, Second Floor Council Chambers, at which time and place
a hearing will be held and proceedings will be instituted and action taken to enter into the
Agreement.
Section 2. • The City Clerk is hereby directed to give notice of the proposed action on
the Agreement setting forth the amount and purpose thereof, the time when and place where the
said meeting will be held, by publication at least once, not less than four (4) and not more than
twenty (20) days before the meeting, in a legal newspaper which has a general circulation in the
City. The notice shall be in substantially the following form:
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 43041 1-9/1'"/a - Sewer Rev
NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT
IN A PRINCIPAL AMOUNT NOT TO EXCEED $27,000,000
(SEWER REVENUE)
The City Council of the City of Dubuque, Iowa, will meet on October 21, 2024, at 6:30
p.m., at the Historic Federal Building, 350 W. 61h St, Second Floor Council Chambers, for the
purpose of instituting proceedings and taking action to enter into a loan and disbursement
agreement (the "Agreement") and to borrow money thereunder in a principal amount not to exceed
$27,000,000 for the purpose of paying the cost, to that extent, of planning, designing and
constructing improvements and extensions to the Municipal Sanitary Sewer System (the "Utility")
of the City.
The Agreement will not constitute a general obligation of the City, nor will it be payable
in any manner by taxation but, together with the City's outstanding Sewer Revenue Indebtedness
and any additional obligations of the City as may be hereafter issued and outstanding from time to
time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the
Utility.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Agreement. After receiving objections, the City may determine to enter into the
Agreement, in which case, the decision will be final unless appealed to the District Court within
fifteen (15) days thereafter.
By order of the City Council of the City of Dubuque, Iowa.
Adrienne Breitfelder
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 430411-9/1'"/z - Sewer Rev
Section 3. Pursuant to Section 1.150-2 of the Income Tax Regulations (the
"Regulations") of the Internal Revenue Service, the City declares (a) that it intends to undertake
the Project which is reasonably estimated to cost approximately $27,000,000, (b) that other than
(i) expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or
other obligations (the "Bonds"), or (ii) expenditures made not earlier than 60 days prior to the date
of this Resolution or a previous intent resolution of the City, or (iii) expenditures amounting to the
lesser of $100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting
preliminary expenditures as defined in Section 1. 1 50-2(f)(2) of the Regulations, no expenditures
for the Project have heretofore been made by the City and no expenditures will be made by the
City until after the date of this Resolution or a prior intent resolution of the City, and (c) that the
City reasonably expects to reimburse the expenditures made for costs of the City out of the
proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to
Section 1.150-2 of the Regulations.
Section 4. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved October 7, 2024.
Attest:
City Clerk
On motion and vote, the meeting adjourned.
Attest:
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 430411-9/l"'/a - Sewer Rev
ATTESTATION CERTIFICATE:
STATE OF IOWA
COUNTY OF DUBUQUE SS:
CITY OF DUBUQUE
I, the undersigned, City Clerk of the City of Dubuque, Iowa, do hereby certify that attached
hereto is a true and correct copy of the proceedings of the City Council relating to fixing a date for
hearing on the City Council's proposal to take action in connection with a Sewer Revenue Loan
and Disbursement Agreement.
WITNESS MY HAND this 131 day of O clo 6zr , 2024.
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 430411-9/1 " h - Sewer Rev
ORGANIZATION AND ESTABLISHMENT CERTIFICATE:
STATE OF IOWA
COUNTY OF DUBUQUE SS:
CITY OF DUBUQUE
I, the undersigned City Clerk, do hereby certify that the aforementioned City is organized
and operating under the provisions of Title IX of the Code of Iowa and not under any special
charter and that such City is operating under the Council -manager -ward form of government and
that there is not pending or threatened any question or litigation whatsoever touching the
incorporation of the City, the inclusion of any territory within its limits or the incumbency in office
of any of the officials hereinafter named.
And I do further certify that the following named parties are officials of the City as
indicated:
BrO.O Cayc no pk , Mayor
m i C r o, Van ! i C� e11 , City Manager
'' o- fe f Loyr so.n , Chief Financial Officer
Mrje nn s ur*e6 &I de-r, City Clerk
• ern-, Te r L.al'.Son , City Treasurer
5 wkko Farber , Council Member/Mayor Pro Tem
R C.
J0 /1 CS
, Council Member
QaV: J
R esn i C
K
, Council Member
LAUros
R o a rse i 1
, Council Member
born, V
Spro^ k
, Council Member
Kaly
Ue
tho�l
, Council Member
And I do further certify that the City has provided for the office of Treasurer, and the
Council has selected the Treasurer.
I further certify that the City established the Municipal Sanitary Sewer System (the
"Utility"), and that the Utility has been in continuous operation by the City since its establishment
as aforesaid in supplying sanitary sewer service to the City and its inhabitants.
-6-
DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
Dubuque/ 430411-9/1'"/ - Sewer Rev
I further certify that the management and control of the Utility are vested in the City
Council of the City, and that no board of trustees exists which has any part of the control and
management of such Utility.
WITNESS MY HAND this 31 day of QC7o 6C /` 12024.
04 - �- 4,
City Clerk
-7-
DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
OUTSTANDING DEBT CERTIFICATE:
STATE OF IOWA
COUNTY OF DUBUQUE SS:
CITY OF DUBUQUE
I, the undersigned, City Clerk of the City of Dubuque, Iowa (the "City"), do hereby certify
that the City has no bonds or other obligations of any kind now outstanding which are secured by
and payable from the revenues derived from the operation of the Municipal Sanitary Sewer System
(the "Utility"), except as follows:
Principal Amount
Date
Tyne
Outstanding
Maturity
01/13/10
Revenue Capital Loan Note
$337,000.00
6/l/2030
05/31/13
Revenue Capital Loan Note
$1,346,000.00
6/l/2030
08/18/10
Revenue Capital Loan Note
$39,757,892.79
6/l/2039
08/18/10
Revenue Capital Loan Note
$7,744,106.88
6/1/2039
05/17/13
Revenue Capital Loan Note
$1,522,000.00
6/l/2033
03/08/19
Revenue Capital Loan Note
$222,855.00
6/l/2038
03/08/19
Revenue Capital Loan Note
$1,344,313.46
6/l/2038
03/19/21
Revenue Capital Loan Note
$349,709.35
3/19/2024
03/19/21
Revenue Capital Loan Note
$328,186.65
3/19/2024
03/19/21
Revenue Capital Loan Note
$75,285.80
3/19/2024
09/24/21
Revenue Capital Loan Note
$277,912.77
9/24/2024
03/03/23
Revenue Capital Loan Note
$293,650.00
6/l/2043
01/07/22
Revenue Capital Loan Note
$312,903.02
1/7/2025
(Attach here a separate sheet listing any outstanding obligations of the City
secured by and payable from the revenues of the Utility, excluding the
proposed issue.)
WITNESS MY HAND this day of 0j(? / 12024.
City Clerk
Dubuque/ 430411-9/1"'/Z - Sewer Rev
PUBLICATION CERTIFICATE:
STATE OF IOWA
COUNTY OF DUBUQUE SS:
CITY OF DUBUQUE
I, the undersigned, City Clerk of the City of Dubuque, Iowa, do hereby certify that pursuant
to the resolution of its City Council fixing a date of meeting at which it is proposed to take action
to enter into a loan and disbursement agreement, the notice, of which the printed slip attached to
the publisher's affidavit hereto attached is a true and complete copy, was published on the date
and in the newspaper specified in such affidavit, which newspaper has a general circulation in the
City.
WITNESS MY HAND this 3 1-dayof OC FO be. (' 52024.
City Clerk
(Attach here the publisher's original affidavit with clipping of the notice, as published.)
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DORSEY & WHITNEY LLP, ATTORNEYS, DUBUQUE, IOWA
STATE OF IOWA SS:
DUBUQUE COUNTY
CERTIFICATE OF PUBLICATION
I, Matt McGuire, 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:
10/11/2024
and for which the charge is 31.35
Subscribed to before me, a Notary Public in and for
Dubuque County, Iowa,
this 11th day of October, 2024
A- 2"
Notary C3
lic in and for Dubuque County, Iowa.
v,P:AL .„ JANET K. PAPE _r
q y Commission Number 199659
z ?�., r
My Commission Expiies
Iowa 12/11/2025
Ad text
CITY OF DUBUQUE, IOWA
OFFICIAL NOTICE
NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT
IN A PRINCIPAL AMOUNT NOT TO EXCEED $27,000,000
(SEWER REVENUE)
The City Council of the City of Dubuque, Iowa, will meet on
October 21, 2024, at 6:30 p.m., at the Historic Federal
Building, 350 W. 6th St, Second Floor Council Chambers, for
the purpose of instituting proceedings and taking action to
enter into a loan and disbursement agreement (the Agreement)
and to borrow money thereunder in a principal amount not to
exceed $27,000,000 for the purpose of paying the cost, to that
extent, of planning, designing and constructing improvements
and extensions to the Municipal Sanitary Sewer System (the
Utility) of the City.
The Agreement will not constitute a general obligation of
the City, nor will it be payable in any manner by taxation
but, together with the Citys outstanding Sewer Revenue
Indebtedness and any additional obligations of the City as may
be hereafter issued and outstanding from time to time ranking
on a parity therewith, will be payable solely and only from
the Net Revenues of the Utility.
At that time and place, oral or written objections may be
filed or made to the proposal to enter into the Agreement.
After receiving objections, the City may determine to enter
into the Agreement, in which case, the decision will be final
unless appealed to the District Court within fifteen (15) days
thereafter.
By order of the City Council of the City of Dubuque, Iowa.
Adrienne Breitfelder
City Clerk
1t 10/11