Reimbursement Resolution — Fire Facilities and EquipmentCity of Dubuque
City Council
ITEM TITLE:
SUMMARY:
SUGGUESTED
DISPOSITION:
ATTACHMENTS:
Copyrighted
November 4, 2024
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Reimbursement Resolution — Fire Facilities and Equipment
City Manager recommending City Council approval of a
reimbursement resolution to serve as "official intent" to
reimburse the project expenditures for Fire Department
facilities and equipment capital expenditures, as required
under the federal tax-exempt bond regulation.
RESOLUTION Relating to the financing of proposed projects
and acquisitions to be undertaken by the City of Dubuque,
Iowa; establishing compliance with reimbursement bond
regulations under the Internal Revenue Code
Receive and File; Adopt Resolution(s)
1. Fire Reimbursement Resolution - MVM Memo_2024_10_30
2. Fire Reimbursement Resolution - Staff memo_2024_10_30
3. RRR Fire Imprvmts (Dubuque-10 2024)-v3
Page 136 of 2498
THE C
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Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Reimbursement Resolution — Fire Facilities and Equipment
DATE: October 30, 2024
Dubuque
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2007-2012.2013
2017*2019
Chief Financial Officer Jennifer Larson recommends City Council approval of a
reimbursement resolution to serve as "official intent" to reimburse the project
expenditures for Fire Department facilities and equipment capital expenditures, as
required under the federal tax-exempt bond regulation. The resolution will allow
reimbursement of project costs from a tax-exempt bond issued at a later date and
allows the general fund to be reimbursed for all Fire Department facilities and
equipment capital expenditures, from bonds that will be issued in the future.
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
Jennifer Larson, Chief Financial Officer
Page 137 of 2498
THE COF
Dubuque
DtUB E
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Masterpiece on the Mississippi
2007.2012.2013
2017* 2019
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Chief Financial Officer
SUBJECT: Reimbursement Resolution — Fire Facilities and Equipment
DATE: October 30, 2024
INTRODUCTION
The purpose of this memorandum is to provide a reimbursement resolution to serve as
"official intent" to reimburse the project expenditures for Fire Department facilities and
equipment capital expenditures, as required under the federal tax-exempt bond
regulation.
DISCUSSION
The resolution will allow reimbursement of project costs from a tax-exempt bond issued
at a later date and allows the general fund to be reimbursed for all Fire Department
facilities and equipment capital expenditures, from bonds that will be issued in the
future.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution.
JML
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Page 138 of 2498
DORSEY
DORSEY+WHITNEY LLP
October 30, 2024
Via Email
Jenny Larson
Director of Finance and Budget/City Hall
Dubuque, Iowa
Re: Reimbursement Regulation Resolution
Our file: 430411-10
Dear Jenny:
We have prepared the attached resolution which may be adopted by the City Council on
November 4, 2024 (or a later date of your choosing) in order to comply with federal regulations
and to preserve the City's eligibility to be reimbursed from future tax-exempt bond proceeds for
undertaking fire protection facilities improvements and equipment acquisition.
Please return one fully executed copy of the resolution to us for our files. Please contact
Dave Grossklaus or me with questions.
Attachment
cc: Adrienne N. Breitfelder
Tionna Pooler
Best regards,
John P. Danos
8o1 Grand Avenue I Suite 41001 Des Moines, IA 150309-2790I T 515.283.1000I F 515.z83.1o6o I lorsey.com
Page 139 of 2498
Dubuque / 43041 l-10 / RRR
ADOPT FEDERAL REIMBURSEMENT
RESOLUTION
430411-10
Dubuque, Iowa
November 4, 2024
The City Council of the City of Dubuque, Iowa, met on November 4, 2024, at 6.30
o'clock P—.m., at 3 W . 6 St., 2 n d Floor, Council Chambers. Dubuque, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following Council Members present and absent:
Present: pavanagh, Farber, Jones, Resnick, Roussell, Sprank. Wethal
Absent:
The City Clerk reported that, in order to preserve the City's eligibility to issue tax-exempt
bonds for undertaking fire protection facilities improvements and equipment acquisition, it would
be necessary for the City Council to adopt a resolution declaring the Council's intent to expend
current cash on -hand and to later reimburse those expenses from the proceeds of a bond issue.
Council Member R-s p i c f introduced the resolution next hereinafter set out,
related to financing the projects, and moved its adoption, seconded by Council Member
Farber . After due consideration and discussion, the Mayor put the question
upon the adoption of said resolution, and the roll being called, the following Council Members
voted:
Ayes:Cavanagh, Wethal, Jones, Sprank, Resnick, Roussell, Farber
Nays:
Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out.
• • .
At the conclusion of the meeting, and upon motion and vote, the City Council adjourned.
Cava 2,��
Attest:
Adrienne N. Breitfelder, City Clerk
-1-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Dubuque / 430411 A 0 / RRR
RESOLUTION NO. 343-24
Resolution relating to the financing of proposed projects and acquisitions to be
undertaken by the City of Dubuque, Iowa; establishing compliance with
reimbursement bond regulations under the Internal Revenue Code
BE IT RESOLVED by the City Council (the "Council") of the City of Dubuque, Iowa (the
"City"), as follows:
Section 1. Recitals.
(a) The Internal Revenue Service has issued Section 1.150-2 of the Income Tax
Regulations (the "Regulations") dealing with the issuance of bonds, all or a portion of the
proceeds of which are to be used to reimburse the City for project expenditures made by
the City prior to the date of issuance.
(b) The Regulations generally require that the City make a prior declaration of
its official intent to reimburse itself for such prior expenditures out of the proceeds of a
subsequently issued borrowing and that the borrowing occur and the reimbursement
allocation be made from the proceeds of such borrowing within a certain period after the
payment of the expenditure or the date the projects are placed in service; and
(c) The City desires to comply with requirements of the Regulations with
respect to certain projects and acquisitions hereinafter identified.
Section 2. Official Intent Declaration.
(a) The City proposes to undertake the following projects and acquisitions and
to make original expenditures with respect thereto prior to the issuance of bonds, notes or
other obligations (the "Bonds") and reasonably expects to issue the Bonds for such projects
and acquisitions in the maximum principal amount shown below:
Maximum Amount of Bonds
Projects/Acquisitions Expected to be Issued for
Projects/Acquisitions
Undertaking capital improvements to
municipal fire protection buildings and
facilities and acquiring vehicles and $4,000,000
equipment for the municipal fire department
(b) Other than (i) expenditures to be paid or reimbursed from sources other than
the Bonds or (ii) expenditures made not earlier than sixty days prior to the date of this
Resolution 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 projects and acquisitions
have heretofore been made by the City for which the City will seek reimbursement from
the proceeds of the Bonds.
-2-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Dubuque / 430411-10 / RRR
(c) This declaration is a declaration of official intent adopted pursuant to
Section 1.150-2 of the Regulations.
Section 3. Budgetary Matters.
As of the date hereof, there are no City funds reserved, allocated on a long term basis or
otherwise set aside (or reasonably expected to be reserved, allocated on a long term basis or
otherwise set aside) to provide permanent financing for the expenditures related to the projects and
acquisitions, other than pursuant to the issuance of the Bonds. This resolution, therefore, is
determined to be consistent with the City's budgetary and financial circumstances as they exist or
are reasonably foreseeable on the date hereof, all within the meaning and content of the
Regulations.
Section 4. Reimbursement Allocations.
The City's finance officer shall be responsible for making the "reimbursement allocations"
described in the Regulations, being generally the transfer of the appropriate amount of proceeds
of the Bonds to reimburse the source of temporary financing used by the City to make payment of
the prior costs of the projects and acquisitions. Each allocation shall be evidenced by an entry on
the official books and records of the City maintained for the Bonds, shall specifically identify the
actual prior expenditure being reimbursed or, in the case of reimbursement of a fund or account,
the fund or account from which the expenditure was paid, and shall be effective to relieve the
proceeds of the Bonds from any restriction under the bond resolution or other relevant legal
documents for the Bonds, and under any applicable state statute, which would apply to the unspent
proceeds of the Bonds.
Section 5. Repealer.
All resolutions, parts of resolutions, or actions of the City Council in conflict herewith are
hereby repealed, to the extent of such conflict.
Passed and approved November 4, 2024.
Attest:
Adrienne N. Breitfelder, City Clerk
-3-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Dubuque / 430411-10 / RRR
ATTESTATION CERTIFICATE
STATE OF IOWA
DUBUQUE COUNTY SS:
CITY OF DUBUQUE
I, the undersigned, City Clerk of the City of Dubuque, Iowa, hereby certify that the attached
is a true, correct and complete transcript of the proceedings had and action taken by the City
Council in connection with reimbursement bond regulations, including a true, correct and complete
copy of the resolution referred to in such minutes.
WITNESS MY HAND this � day of N0V('M6er , 2024.
Adrienne N. Breitfelder, City Clerk
-4-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA