Loading...
Proceedings for the Public Hearing on the Issuance of Not to Exceed $24,250,000 General Obligation Bonds, Series 2025ABCCity of Dubuque City Council PUBLIC HEARINGS # 3. Copyrighted January 6, 2025 ITEM TITLE: Proceedings for the Public Hearing on the Issuance of Not to Exceed $24,250,000 General Obligation Bonds, Series 2025ABC SUMMARY: Proof of publication on notice of public hearing to consider City Council approval of the suggested proceedings for the public hearing on the issuance of selling not to exceed $24,250,000 in General Obligation Bonds, and City Manager recommending approval. RESOLUTION Taking additional action on proposals to enter into Loan Agreements and combining Loan Agreements SUGGUESTED Receive and File; Adopt Resolution(s) DISPOSITION: ATTACHMENTS: 1. MVM Memo Series 2025 General Obligation Bonds - Public Hearing - MVM Memo_2024_12_25 2. Series 2025 General Obligation Bonds - Public Hearing - Staff memo_2024_12_25 3. Hrgs (part rr) Combine (Dubuque 423705-NEW) 2025-v4 Page 332 of 366 THE C DUUB__Q__FE Masterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager Dubuque All-AMEb City a+i 2007.2012.2013 2017*2019 SUBJECT: Proceedings for the Public Hearing on the Issuance of Not to Exceed $24,250,000 General Obligation Bonds, Series 2025ABC DATE: December 25, 2024 Chief Financial Officer Jennifer Larson recommends City Council approval of the suggested proceedings for the public hearing on the issuance of selling not to exceed $24,250,000 in General Obligation Bonds. $23,640,000 of the proceeds are intended for projects in the City budget previously approved by the City Council which include Fire Ambulance Replacements, Fire Cardiac Monitors, Fire Outdoor Warning Signals, Fire Portable Radio Replacements, Fire Wireless Headsets, Fire Boat Replacement, Fire Community Automated External Defibrillator Implementation, Solid Waste Collection Vehicles, Airport Taxiway Improvements, Fire Station Generators, Fire Station 6 Roof Replacement, Fire Station Tuck Pointing, Fire Administrative Office Update, Fire Bunk Rooms, Fire Mechanical and Electrical Systems, Fire HVAC Replacement, Fire Station Improvements, Fire Training Burn Tower Improvements, Fire Ladder/Pumper Truck Replacements, ABC Supply Building Deconstruction, Ice Arena Dehumidification, Smart Parking System, Parking Ramp Major Maintenance Repairs, Federal Building Renovations, and Iowa Amphitheater on Schmitt Island. $610,000 is intended to provide funds for bond issuance costs and contingency for fluctuations in the bond market for interest rates, bond issuance costs, capitalized interest, and change in project costs. Although the City is selling General Obligation Bonds to support the projects, repayments of the debt will be local option sales tax, Refuse Collection Fund, Dubuque Racing Association, and Greater Downtown TIF. As to the non -urban renewal essential corporate purpose portion of the issue, the proceedings are prepared to show as a first step the receipt of any oral or written objections from any resident or property owner to the proposed action of the Council to issue the Bonds. A summary of objections received or made, if any, should be attached to the proceedings. After all objections have been received and considered, if the Council decides not to abandon the proposal to issue the Bonds, a form of resolution follows that should be introduced and adopted, entitled "Resolution taking additional action on proposals to enter into Loan Agreements and combining Loan Agreements." Page 333 of 366 As to the general corporate purpose and urban renewal essential corporate purpose portions of the issue, the proceedings have been prepared on the basis that no petition will be filed asking that the question of issuing the Bonds be submitted to the qualified electors of the City. The proceedings refer to the fact that the hearing was held and that no petition had been filed. The Mayor will then declare the hearing on the issuance of the Bonds to be closed. Immediately following each hearing, a resolution is to be introduced and adopted taking additional action for the issuance. If a valid petition is filed, Bond Counsel should be notified as soon as possible since the hearing proceedings will have to be revised to cover the action taken by the Council in either abandoning the proposal to issue the Bonds or directing the County Commissioner to call a special election upon the question of issuing the Bonds. The Code of Iowa provides that any resident or property owner of the City may appeal the decision to take additional action to issue the Bonds to the District Court of a county in which any part of the City is located, within 15 days after such additional action is taken, but that the additional action is final and conclusive unless the court finds that the Council exceeded its authority. In the event an appeal is filed by any resident or property owner, Bond Counsel must be notified as soon as possible. I concur with the recommendation and respectfully request Mayor and City Council approval. v Mich el C. Van Milligen MCVM/jml Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Jennifer Larson, Chief Financial Officer Brian DeMoss, Finance Manager Alex Dixon, President and CEO Dubuque Racing Association 2 Page 334 of 366 THE C DUUB-.'&--FE Masterpiece on the Mississippi TO: Michael C. Van Milligen, City Manager FROM: Jennifer Larson, Chief Financial Officer Dubuque &IMWIN W 2007-2012.2013 2017*2019 SUBJECT: Proceedings for the Public Hearing on the Issuance of Not to Exceed $24,250,000 General Obligation Bonds, Series 2025ABC DATE: December 25, 2024 INTRODUCTION The purpose of this memorandum is to provide the suggested proceedings for the public hearing on the proposal to issue General Obligation Bonds, the proceeds of which will be used for essential and general corporate purposes of the City for projects in the City budget previously approved by the City Council. DISCUSSION Tax Exempt Series 2025A will provide proceeds for the following: • $588,810 is intended to provide funds to pay the costs of Fire Ambulance Replacements with repayment from local option sales tax. • $590,000 is intended to provide funds to pay for the costs of Fire Cardiac Monitors with repayment from local option sales tax. • $52,020 is intended to provide funds to pay the costs related to Fire Outdoor Warning Signals with repayment from local option sales tax. • $90,000 is intended to provide funds to pay the costs of Fire Portable Radio Replacements with repayment from local option sales tax. • $53,822 is intended to provide funds to pay the costs of Fire Wireless Headsets with repayment from local option sales tax. • $340,000 is intended to provide funds to pay the costs of Fire Boat Replacement with repayment from local option sales tax. • $33,500 is intended to provide funds to pay the costs of Fire Community AED Implementation with repayment from local option sales tax. • $1,021,700 is intended to provide funds to pay the costs of Solid Waste Collection Vehicles with repayment from Refuse Collection Fund. • $632,875 is intended to provide funds to pay the costs of Airport Taxiway Improvements with repayment from local option sales tax. • $100,000 is intended to provide funds to pay the costs of Fire Station Generators with repayment from local option sales tax. • $193,000 is intended to provide funds to pay the costs of Fire Station 6 Roof Replacement with repayment from local option sales tax Page 335 of 366 • $200,000 is intended to provide funds to pay the costs of Fire Station Tuck Pointing with repayment from local option sales tax • $300,000 is intended to provide funds to pay the costs of Fire Administrative Office Update with repayment from local option sales tax • $625,000 is intended to provide funds to pay the costs of Fire Bunk Rooms with repayment from local option sales tax • $54,961 is intended to provide funds to pay the costs of Fire Mechanical and Electrical systems with repayment from local option sales tax • $200,000 is intended to provide funds to pay the costs of Fire HVAC Replacement with repayment from local option sales tax • $442,645 is intended to provide funds to pay the costs of Fire Station Improvements with repayment from local option sales tax • $466,676 is intended to provide funds to pay the costs of Fire Training Burn Tower improvements with repayment from local option sales tax • $105,770 is intended to provide funds for bond issuance costs. • $185,000 is intended to be a contingency for fluctuations in the bond market for interest rates, bond issuance costs and change in project costs. Taxable Series 2025B will provide proceeds for the following: • $2,090,000 is intended to provide funds to pay the costs of Fire Ladder/Pumper truck replacements with payment from local option sales tax. • $457,000 is intended to provide funds to pay the costs of the ABC Supply Building Deconstruction with repayment from Greater Downtown TIF. • $1,147,065 is intended to provide funds to pay the costs of Ice Arena Dehumidification with payment from local option sales tax. • $3,215,196 is intended to provide funds to pay the costs of Smart Parking System with payment from Greater Downtown TIF. • $700,000 is intended to provide funds to pay the costs of Parking Ramp Major Maintenance Repairs with payment from Greater Downtown TIF. • $615,OOOis intended to provide funds to pay the costs of Federal Building Renovations with payment from Greater Downtown TIF. • $135,739 is intended to provide funds for bond issuance costs. 0 $140,000 is intended to be a contingency for fluctuations in the bond market for interest rates, bond issuance costs and change in project costs. Taxable Series 2025C will provide proceeds for the following: • $8,784,961 is intended to provide funds to pay the costs of Iowa Amphitheater on Schmitt Island with payment from Dubuque Racing Association and Greater Downtown TIF. • $155,039 is intended to provide funds for bond issuance costs. • $310,000 is intended to be a contingency for fluctuations in the bond market for interest rates, bond issuance costs and change in project costs. 2 Page 336 of 366 Although the City is selling General Obligation Bonds to support the projects, repayment of the debt will be local option sales tax, refuse collection fund, Dubuque Racing Association, and Greater Downtown TIF. As to the non -urban renewal essential corporate purpose portion of the issue, the proceedings are prepared to show as a first step the receipt of any oral or written objections from any resident or property owner to the proposed action of the Council to issue the Bonds. A summary of objections received or made, if any, should be attached to the proceedings. After all objections have been received and considered, if the Council decides not to abandon the proposal to issue the Bonds, a form of resolution follows that should be introduced and adopted, entitled "Resolution taking additional action on proposals to enter into Loan Agreements and combining Loan Agreements." Additionally, as to the General Corporate Purpose and Urban Renewal portions of the issuance, at any time before the date of the hearing, a petition may be filed with the City Clerk requesting that the issuance of the bonds be submitted to an election. To qualify, a petition must be signed by eligible electors equal to at least ten percent of the number who voted at the last regular municipal election (but not less than ten persons). If a valid petition is filed, Bond Counsel should be notified as soon as possible since the hearing proceedings will have to be revised to cover the action taken by the Council in either abandoning the proposal to issue the Bonds or directing the County Commissioner to call a special election upon the question of issuing the Bonds. The Code of Iowa provides that any resident or property owner of the City may appeal the decision to take additional action to issue the Bonds to the District Court of a county in which any part of the City is located, within 15 days after such additional action is taken, but that the additional action is final and conclusive unless the court finds that the Council exceeded its authority. In the event an appeal is filed by any resident or property owner, Bond Counsel must be notified as soon as possible. RECOMMENDATION I respectfully recommend the adoption of the enclosed resolutions instituting the proceedings to take additional action. JML Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Page 337 of 366 DORSEY DORSEV i WHITNEY LLP December 23, 2024 Via Email Jenny Larson Chief Financial Officer/City Hall Dubuque, Iowa Re: General Obligation Loan Agreements Our File No. 430411-NEW Dear Jenny: We have prepared and attach proceedings related to the action to be taken on the City's General Obligation Loan Agreements (the "Loan Agreements") at the January 6, 2025 City Council meeting. The proceedings attached include the following items: 1. Minutes of the meeting covering the public hearings, followed by the resolution taking additional action in connection with the Loan Agreements and combining the Loan Agreements into a single loan agreement (the "Loan Agreement"). This resolution simply sets forth the City Council's determination to enter into the Loan Agreement in the future, and its adoption constitutes the "additional action" required by the statute. 2. Attestation Certificate with respect to the validity of the transcript. The minutes as drafted assume that no petitions will be filed asking that the question of entering into any of the Loan Agreements be submitted to the registered voters of the City. If any such petition is filed, please contact us right away. As soon as possible after the City Council meeting, please return one fully executed copy of all of the completed pages in these proceedings. If you have any questions, please contact Erin Regan, Cheryl Ritter or me. Best regards, John P. Danos David D. Grossklaus Attachments cc: Adrienne Breitfelder Crenna Brumwell Tionna Pooler Natalie Lawless 8oi Grand Avenue I Suite 4100 1 Des Moines, IA 1 5o3og-800z 1 T 51-5.283.2-000 1 dorsey.com Page 338 of 366 Dubuque/430411-NEW/Hrg (rr), Combine GO LAs -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA MINUTES TO HOLD HEARING AND ADDITIONAL ACTION ON LOAN AGREEMENTS AND TO COMBINE LOAN AGREEMENTS 430411-NEW Dubuque, Iowa January 6, 2025 The City Council of the City of Dubuque, Iowa, met on January 6, 2025, at 6:30 p.m., at the Historic Federal Building, 350 W. 6th St., Dubuque, Iowa. The meeting was called to order by the Mayor, and the roll was called showing the following members of the City Council present and absent: Present: Mayor Brad Cavanagh; Council Members Susan Farber, Rick Jones, David Resnick, Laura Roussell, Danny Sprank, and Katy Wethal. Absent: . This being the time and place specified for taking action on the proposal to enter into the Essential Purpose Loan Agreement, as defined in the attached resolution, and to borrow money thereunder in a principal amount not to exceed $6,190,000, the City Clerk announced that no written objections had been placed on file. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor declared the public hearing closed. This also being the time and place specified for taking action on the proposal to enter into a certain Exterior and Office Renovations Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $890,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. This also being the time and place specified for taking action on the proposal to enter into a certain Bunk Room and Systems Improvements Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $910,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the author ization of the loan agreement. This also being the time and place specified for taking action on the proposal to enter into a certain Fire Station Improvements Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $910,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. Dubuque/430411-NEW/Hrgs (rr), Combine GO LAs -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA This also being the time and place specified for taking action on the proposal to enter into a certain Ice Arena Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $1,185,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. This also being the time and place specified for taking action on the proposal to enter into a certain Parking System Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $4,045,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. This also being the time and place specified for taking action on the proposal to enter into a certain Federal Building Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $870,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. This also being the time and place specified for taking action on the proposal to enter into a certain Amphitheater Loan Agreement, as defined in the attached resolution, in a principal amount not to exceed $9,250,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor closed the public hearings. After due consideration and discussion, Council Member Farber introduced the following resolution and moved its adoption, seconded by Council Member Sprank. The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Council Members voted: Ayes: Jones, Sprank, Resnick, Farber, Cavanagh, Wethal, Roussell. Nays: Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out. Dubuque/43041 l-NEW/Hrgs (rr), Combine GO LAs At the conclusion of the meeting, and upon motion and vote, the City Counpil adjourned. Mayor Attest: City Clerk -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Dubuque/430411-NEW/Hrgs (rr), Combine GO LAs -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA RESOLUTION NO. 7-25 Resolution taking additional action on proposals to enter into Loan Agreements and combining Loan Agreements WHEREAS, the City of Dubuque (the “City”), in Dubuque County, State of Iowa, heretofore proposed to enter into a loan agreement (the “Essential Purpose Loan Agreement”) pursuant to the provisions of Section 384.24A of the Code of Iowa and to borrow money thereunder in a principal amount not to exceed $6,190,000 for the purpose of paying the costs, to that extent, of (a) acquiring ambulances, fire protection vehicles, a fire protection boat, EMS equipment and fire safety radios and equipment; (b) acquiring solid waste collection vehicles and equipment; (c) undertaking improvements to the municipal airport; and (d) undertaking demolition/deconstruction of a dangerous and dilapidated property, and pursuant to law and a notice duly published, the City Council has held a public hearing on such proposal on January 6, 2025; and WHEREAS, the City also proposed to enter into a loan agreement (the “Exterior and Office Renovations Loan Agreement”), pursuant to the provisions of Section 384.24A of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $890,000 for the purpose of paying the costs, to that extent, of (a) acquiring and installing fire station generators; (b) undertaking fire station roof replacement and repairs; (c) undertaking fire station tuck pointing and related exterior repairs; and (d) undertaking fire department administrative office renovations, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Exterior and Office Renovations Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposed to enter into a loan agreement (the “Bunk Room and Systems Improvements Loan Agreement”), pursuant to the provisions of Section 384.24A of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $910,000 for the purpose of paying the costs, to that extent, of (a) undertaking fire station bunk room renovations; (b) undertaking fire station mechanical and electrical systems improvements; and (c) undertaking fire station HVAC replacement, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Bunk Room and Systems Improvements Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposed to enter into a loan agreement (the “Fire Station Improvements Loan Agreement,” and together with the Exterior and Office Renovations Loan Agreement and the Bunk Room and Systems Improvements Loan Agreement, the “General Purpose Loan Agreements”), pursuant to the provisions of Section 384.24A of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $910,000 for the purpose of paying the costs, to that extent, of (a) undertaking fire station facilities improvements; and (b) undertaking improvements to the fire department burn tower training facility, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of Dubuque/430411-NEW/Hrgs (rr), Combine GO LAs the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Fire Station Improvements Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposes to enter into a loan agreement (the "Ice Arena Loan Agreement"), pursuant to the provisions of Section 384.24A and 384.24.3(q) of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $1,185,000 for the purpose of undertaking the Ice Arena Dehumidification Project, an authorized urban renewal project of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Ice Arena Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposed to enter into a loan agreement (the "Parking System Loan Agreement"), pursuant to the provisions of Section 384.24A and 384.24.3(q) of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $4,045,000 for the purpose of undertaking the Smart Parking System Enhancement Project and the Parking Ramp Major Maintenance Project, authorized urban renewal projects of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Parking System Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposed to enter into a loan agreement (the "Federal Building Loan Agreement" and together with Ice Arena Loan Agreement and the Parking System Loan Agreement, the "Urban Renewal Loan Agreements"), pursuant to the provisions of Section 384.24A and 384.24.3(q) of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $870,000 for the purpose of undertaking the Federal Building Renovation Project and the Central Avenue Streetscape Improvements Project, authorized urban renewal projects of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that the question of entering into the Federal Building Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City also proposed to enter into a loan agreement (the "Amphitheater Loan Agreement"), pursuant to the provisions of Section 384.24A and 384.24.3(q) of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $9,250,000 for the purpose of undertaking the Iowa Amphitheater on Schmitt Island Project, an authorized urban renewal project of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024, and in lieu of calling an election upon such proposal, has published notice of the proposed action, including notice of the right to petition for an election, and has held a hearing thereon, and as of January 6, 2025, no petition had been filed with the City asking that -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Page 343 of 366 Dubuque/43041 l-NEW/Hrgs (IT), Combine GO LAs the question of entering into the Amphitheater Loan Agreement be submitted to the registered voters of the City; and WHEREAS, pursuant to the provisions of Section 384.28 of the Code of Iowa, the City intends to combine authority to enter into the loan agreements described above in the manner hereinafter set forth; NOW, THEREFORE, It Is Resolved by the City Council of the City of Dubuque, Iowa, as follows: Section 1. The Urban Renewal Loan Agreements, the Essential Purpose Loan Agreement and the General Purpose Loan Agreements are hereby combined into a common "Loan Agreement". The City's authority to enter in the Loan Agreement shall be further divided by subsequent action of the City Council into a Tax Exempt Series 2025A Loan Agreement and a Taxable Series 2025B Loan Agreement. The City Council hereby determines to enter into the Loan Agreement in the future and orders that General Obligation Corporate Purpose Bonds, Series 2025A and Taxable General Obligation Corporate Purpose Bonds, Series 2025B Bonds be issued at such time, in evidence of the City's respective obligations thereunder. Further, the City Council hereby determines to enter into the Amphitheater Loan Agreement in the future and orders that Taxable General Obligation Urban Renewal Bonds, Series 2025C be issued at such time, in evidence of the City's obligations thereunder. The City Council further declares that this resolution constitutes the "additional action" required by Section 384.24A of the Code of Iowa with respect to the Loan Agreement, and all combined borrowing proposals thereunder, and the Amphitheater Loan Agreement. Section 2. Further action with respect to the Loan Agreement is hereby adjourned to the City Council meeting scheduled for January 21, 2025. Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved January 6, 2025. e-��7z — Mayor Attest: City Clerk -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Dubuque/43041 l-NEW/Hrgs (rr), Combine GO LAs ATTESTATION CERTIFICATE STATE OF IOWA DUBUQUE COUNTY SS: CITY OF DUBUQUE I, the undersigned, City Clerk of the City of Dubuque, do hereby certify that as such I have in my possession or have access to the complete corporate records of the City and of its City Council and officers and that I have carefully compared the transcript hereto attached with those corporate records and that the transcript hereto attached is a true, correct and complete copy of all the corporate records relating to a public hearing and additional action on the proposals to enter into certain Loan Agreements, combining Loan Agreements and to issue General Obligation Bonds in the future, and that the transcript hereto attached contains a true, correct and complete statement of all the measures adopted and proceedings, acts and things had, done and performed up to the present time with respect thereto. WITNESS MY HAND this 7 day of o n u6L4 , 24 Z5. City Clerk -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 35.91 Subscribed to be re me, a Notary Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 Q�ry paiav- — Notar JPLbiic in and for Dubuque County, Iowa. �*a�nt s� JANET K. PAPE Z r commission Number 199659 _ My Commission Expires • +o w a 12/1112025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,190,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $6,190,000 for the purpose of paying the costs, to that extent, of (a) acquiring ambulances, fire protection vehicles, a fire protection boat, EMS equipment and fire safety radios and equipment; (b) acquiring solid waste collection vehicles and equipment; (c) undertaking improvements to the municipal airport; and (d) undertaking demolition/deconstruction of a dangerous and dilapidated property. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $6.87, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.61 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 Notary u lic in and for Dubuque dounty, Iowa. IAt s JANET K. PAPE 0 Commission Number 199659 ? _ My Commission Expires iowp, 12/11/2025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $890,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $890,000 for the purpose, of paying the costs, to that extent, of (a) acquiring and installing fire station generators; (b) undertaking fire station roof replacement and repairs; (c) undertaking fire station tuck pointing and related exterior repairs; and (d) undertaking fire department administrative office renovations. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. The maximum rate of interest which may be payable under the Loan Agreement is 9 % per annum. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $0.86 however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.04 Subscribed to before me, a Not Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 Notarya is in and for Dubuqu County, Iowa. JAINET K. PAPE �,T� a umber 199659 o'AFf Commission N fires MY Commission ExP �1211112025 '�OWp Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $910,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $910,000 for the purpose, of paying the costs, to that extent, of (a) undertaking fire station bunk room renovations; (b) undertaking fire station mechanical and electrical systems improvements; and (c) undertaking fire station HVAC replacement. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. The maximum rate of interest which may be payable under the Loan Agreement is 9 % per annum. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $0.96, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 It 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 39.90 Subscribed to before me, a Notary Pub ' m and for Dubuque County, Iowa, this 23rd day of December, 2024 Notary PC c in and for Dubuque County, Iowa. FIA JANET K. PAPE commission Number 199659 My Commission Expires 12/11/2025 Ad text : NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $910,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $910,000 for the purpose, of paying the costs, to that extent, of (a) undertaking fire station facilities improvements; and (b) undertaking improvements to the fire department burn tower training facility. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. The maximum rate of interest which may be payable under the Loan Agreement is 9% per annum. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $0.99, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.04 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 'Oc- v - F."'ne I, - Notary a lic in and for Dubuque'County, Iowa. p1AL 3 JANET K. PAPE oP 9 commission Number 199659 My commission Expires �/owP 12/11/2025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,185,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $1,185,000 for the purpose of paying the costs, to that extent, of undertaking the Ice Arena Dehumidification Project, an authorized urban renewal project of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A and Section 384.24.3(q) of the Code of Iowa and will constitute a general obligation of the City. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $1.43, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.61 �, 4d Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 po�� Notar up, blic in and for Dubuque County, Iowa. E—o,',N JANET K. PAPE Commission Number 199659 My commission Expires 12/11/2025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $4,045,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $4,045,000 for the purpose of paying the costs, to that extent, of undertaking the Smart Parking System Enhancement Project and the Parking Ramp Major Maintenance Project, authorized urban renewal projects of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A and Section 384.24.3(q) of the Code of Iowa and will constitute a general obligation of the City. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $4.88, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.04 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 23rd day of December, 2024 ' , Aet-- -(� pan)9 - Notary u lic in and for Dubuque County, Iowa. Ar. JANET K. PARE Commission Number 199659 My Commission Expires gown 12/11/2025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $870,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $870,000 for the purpose of paying the costs, to that extent, of undertaking the Federal Building Renovation Project and the Central Avenue Streetscape Improvements Project, authorized urban renewal projects of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A and Section 384.24.3(q) of the Code of Iowa and will constitute a general obligation of the City. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $1.01, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, 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: 12/20/2024 and for which the charge is 41.04 Su/ u scribed to before me, a Notary Pu 'c in and for Dubuque County, Iowa, this 23rd day of December, 2024 Nota P lic in and for Dubuque County, Iowa. E S� JANET K. PAPE Commission Number 199659 Wy commission Expires ^ 12/11/2025 Ad text NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $9,250,000 (GENERAL OBLIGATION) The City Council of the City of Dubuque, Iowa, will meet on January 6, 2025, at the Historic Federal Building, Second Floor, 350 W. 6th St., in the City, at 6:30 oclock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the ?Loan Agreement?) and to borrow money thereunder in a principal amount not to exceed $9,250,000 for the purpose of paying the costs, to that extent, of undertaking the Iowa Amphitheater on Schmitt Island Project, an authorized urban renewal project of the City in the Greater Downtown Urban Renewal Area approved by action of the City Council on December 16, 2024. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A and Section 384.24.3(q) of the Code of Iowa and will constitute a general obligation of the City. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $12.00, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan 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 1 t 12/20