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Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement ProjectCity of Dubuque City Council PUBLIC HEARINGS # 4. Copyrighted July 6, 2026 ITEM TITLE: Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project SUMMARY: Proof of Publication on the notice of public hearing for the Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project and City Manager recommending approval. RESOLUTION Taking Additional Action with Respect to a Water Revenue Loan and Disbursement Agreement and Authorizing, Approving and Securing the Payment of a $50,000 Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) SUGGUESTED Receive and File; Adopt Resolution(s) DISPOSITION: ATTACHMENTS: 1. MVM Memo Lead Water Main SRF Public Hearing_MVM memo_2026_06_29 2. PH —Lead Water Main Replace _$50K SRF PD_Staff Memo_2026_06_29 3. 2nd Half Hrg & Iss Water Rev P&D (Dubuque #29 2026)-v1 4. Project Note (Dubuque #29 2026)-v1 Page 807 of 853 THE C DUUB--'*--TE Masterpiece on the Mississippi TO: The Honorable Mayor and City Council Members Dubuque All-Anerin City I II 2007.2012.2013 2017*2019 FROM: Michael C. Van Milligen, City Manager SUBJECT: Public Hearing for the Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project DATE: June 29, 2026 Chief Financial Officer Jennifer Larson is recommending City Council approval of the suggested proceedings for a public hearing on the issuance of not to exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project. This project provides funding for the removal and replacement of the Water Department's existing public lead water mains: May Place, Union Street, Austin Street, Washington Street, and Roland Street. This project will eliminate the department's public lead line water mains that were installed in the early 1920's. This project will also include replacement of lead service lines affected by the main replacements. Approved P&D loans are 0% interest for up to three years to cover the costs of engineering to prepare facility plans and project plans & specifications. The loans are then typically rolled into a SRF construction loan or repaid by another source of permanent financing. The proceedings have been 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 authorize the form of Loan and Disbursement Agreement and issue the Notes to the Iowa Finance Authority. 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 to enter into the Agreement and issue the Notes, a form of resolution follows that should be introduced and adopted, entitled "Resolution Instituting Proceedings to Take Additional Action." In the event the Council decides to abandon the proposal, then the form of resolution included in said proceedings should not be adopted. In this event, a motion merely be adopted to the effect that such proposal is abandoned. Page 808 of 853 I concur with the recommendation and respectfully request Mayor and City Council approval. �� k�4 ��. Michael C. Van Milligen MCVM/jml Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Chris Lester, Water Department Director Brian DeMoss, Finance Manager 2 Page 809 of 853 Dubuque THE CF All -America Ciry D!UjB E-E 1 I��I -2013 Masterpiece on the Mississippi zoo17*2019 �' Pp zoi�*Zoi9 TO: Michael C. Van Milligen, City Manager FROM: Jennifer Larson, Chief Financial Officer DATE: June 29, 2026 RE: Public Hearing for the Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project INTRODUCTION This memorandum requests the City Council conduct a public hearing for the Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project. BACKGROUND This project provides funding for the removal and replacement of the Water Department's existing public lead water mains: May Place, Union Street, Austin Street, Washington Street, and Roland Street. This project will eliminate the department's public lead line water mains that were installed in the early 1920's. This project will also include replacement of lead service lines affected by the main replacements. DISCUSSION The Lead Water Main Replacement Project (CIP No. 4281000024) includes a current FY26 total expense budget of $418,032.00 for the design and construction of portions of the total project, with funding through the Drinking Water SRF program. The Water Department has requested additional funds in FY27 to be able to complete construction at all the replacement project sites. Approved P&D loans are 0% interest for up to three years to cover the costs of engineering to prepare facility plans and project plans & specifications. The loans are then typically rolled into a SRF construction loan or repaid by another source of permanent financing. The proceedings have been 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 authorize the form of Loan and Disbursement Agreement and issue the Notes to the Iowa Finance Authority. 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 to enter into the Agreement and issue the Notes, a form of Page 810 of 853 resolution follows that should be introduced and adopted, entitled "Resolution Instituting Proceedings to Take Additional Action." In the event the Council decides to abandon the proposal, then the form of resolution included in said proceedings should not be adopted. In this event, a motion merely be adopted to the effect that such proposal is abandoned. RECOMMENDATION I respectfully request the City Council conduct a public hearing for the Issuance of Not to Exceed $50,000 Water Revenue Capital Loan Notes Planning and Design Loan (State Revolving Loan Fund Program) Lead Water Main Replacement Project. Attachments cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Chris Lester, Water Department Manager 2 Page 811 of 853 DORSEY DORSEY+WHITNEY LLP June 29, 2026 VIA EMAIL Jenny Larson Chief Financial Officer Dubuque, Iowa Re: $50,000 SRF Planning and Design Loan File No. 430411-29 Dear Jenny: We have prepared and attach proceedings to be used at the July 6, 2026, City Council meeting to enable the Council to hold the hearing on and authorize a Water Revenue Loan and Disbursement Agreement (the "Agreement") and approve the issuance of a Water Revenue Planning and Design Loan Project Note (the "Project Note"). The proceedings attached include the following items: 1. Minutes of the July 6, 2026, meeting reflecting the hearing and providing for the adoption of a resolution (the "Resolution") authorizing and approving the Agreement and providing for the issuance of the Project Note. 2. Certificate attesting to the transcript. 3. The Project Note. Please have the Project Note signed as indicated, and return an executed copy to our office. Please return one fully executed copy of these proceedings, along with the executed Project Note, to our office by July 13, 2026. Please call Emily Hammond, Erin Regan, Lauren Baker or me if you have questions. Best regards, David D. Grossklaus John P. Danos Attachments cc: Crenna Brumwell Adrienne Breitfelder Trish Gleason Eldon Schneider Christopher Lester Tionna Pooler Tony Toigo Lee Wagner Yolanda Attaway 8o3. Grand Avenue I Suite 4i00 I Des Moines, IA 150309-8002 IT 53-5.283.3-000 I dorsey.com Page 812 of 853 Dubuque / 430411-29 /2id'/z Hrg & Iss- P&D Water Rev (Hearing/Issuance — Water Revenue) 430411-29 Dubuque, Iowa July 6, 2026 The City Council of the City of Dubuque, Iowa, met on July 6, 2026, at 6:30 p.m., at the Historic Federal Building, 350 W. 61h St, Second Floor Council Chambers, in the City. The meeting was called to order by the Mayor, and the roll was called showing the following Council Members present and absent: Present: I Awor (SOVM Absent: bunt'lI Mcfnkcrs 5 o,ve.rt We )Q • • Other Business- - PUBLIC HEARING Irvr Re's �C Rovss�I1, S�ron��I This being the time and place specified for holding a public hearing and taking action on the proposal to enter into a Water Revenue Loan and Disbursement Agreement, 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. MOTION TO APPROVE RESOLUTION After due consideration and discussion, Council Member Foil �"Sc I I introduced the following resolution and moved its adoption, seconded by Council Member 5 tro,n K . The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Council Members voted: Ayes: b yendc V'1 5prcA, RVU55e l l; uj, 4hn(, Re5o rl\ Aver cavckylnh Nays: Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Dubuque / 430411-29 /2" Y2 Hrg & Iss- P&D Water Rev RESOLUTION NO. 270-26 Resolution taking additional action with respect to a Water Revenue Loan and Disbursement Agreement and authorizing, approving and securing the payment of a $50,000 Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) WHEREAS, the City of Dubuque (the "City"), in Dubuque County, State of Iowa, did heretofore establish a Municipal Waterworks Utility System (the "Utility") in and for the City which has continuously supplied water 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 Water Revenue bonds or notes, and a portion of such prior Water 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 has heretofore proposed to borrow money and enter into a Water Revenue Loan and Disbursement Agreement (the "Loan and Disbursement Agreement") with the Iowa Finance Authority (the "Lender") and to issue in accordance therewith Water Revenue Bonds (the "Bonds") in a principal amount not to exceed $50,000 to provide funds to pay the costs, to that extent, of planning, designing, and constructing improvements and extensions to the Utility (the "Project"), and has published notice of the proposed action and has held a hearing thereon on July 6, 2026; and WHEREAS, it is necessary at this time to authorize and approve the issuance of a $50,000 Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) (the "Project Note") pursuant to the provisions of Section 76.13 of the Code of Iowa in anticipation of the receipt of and payable from the proceeds of the Loan and Disbursement Agreement (the "Loan Proceeds") in order to pay authorized costs in connection with planning and designing the Project; NOW, THEREFORE, Be It Resolved by the City Council of the City of Dubuque, Iowa, as follows: Section 1. The City Council hereby covenants for the benefit of the Lender and all who may at any time be the holder of the Project Note to enter into the Loan and Disbursement Agreement and to issue and deliver the Bonds prior to the Maturity Date, as defined in the Project Note, and declares that this resolution constitutes the "additional action" required by -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Dubuque / 430411-29 /2"a'/z Hrg & Iss- P&D Water Rev Section 384.24A of the Code of Iowa. The Bonds are hereby ordered to be issued at such time as the City enters into the Loan and Disbursement Agreement. Section 2. The Project Note in the principal amount of $50,000 is hereby authorized to be issued to the Lender. The Project Note shall be dated as of the date of closing, shall mature on the Maturity Date as defined in the Project Note, and shall bear interest at the rate of 0% per annum. The Project Note shall be executed on behalf of the City with the official manual or facsimile signature of the Mayor and attested with the official manual or facsimile signature of the City Clerk and shall be a fully registered instrument without interest coupons. In case any officer whose signature or the facsimile of whose signature appears on the Project Note shall cease to be such officer before the delivery of the Project Note, such signature or such facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. The City Clerk is hereby designated as the Registrar and Paying Agent for the Project Note and may be hereinafter referred to as the "Registrar" or the "Paying Agent." The City reserves the right to prepay principal of the Project Note in whole or in part on any date prior to the Maturity Date, as defined in the Project Note, at a prepayment price equal to the principal amount thereof prepaid. The Project Note shall be fully registered as to both principal and interest in the name of the owner in the records of the City kept for such purpose, after which no transfer shall be valid unless made on said records by the City Clerk, and then only upon a written instrument of transfer satisfactory to the City, duly executed by the registered owner or the duly authorized attorney for such registered owner. The City shall maintain as confidential the record of identity of owners of the Project Note, as provided by Section 22.7 of the Code of Iowa. Section 3. The Project Note shall be in substantially the following form: -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Page 815 of 853 Dubuque / 430411-29 /2"a'/z Hrg & Iss- P&D Water Rev (Form of Project Note) UNITED STATES OF AMERICA STATE OF IOWA DUBUQUE COUNTY CITY OF DUBUQUE WATER REVENUE LOAN AND DISBURSEMENT AGREEMENT ANTICIPATION PROJECT NOTE (IFA INTERIM LOAN AND DISBURSEMENT AGREEMENT) No. 1 MAXIMUM PRINCIPAL AMOUNT: $50,000 INTEREST RATE PROJECT NOTE DATE MATURITY DATE 0% July 24, 2026 July 24, 2029 This Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) (the "Project Note") is issued to the Iowa Finance Authority (the "Lender") by the City of Dubuque, Iowa (the "City"), as of the Project Note Date. The Lender shall loan to the City an interim amount not to exceed $50,000. The City has adopted a resolution (the "Resolution") authorizing and approving this Project Note pursuant to the provisions of Sections 76.13 and 384.24A of the Code of Iowa, 2025 as amended, and providing for the issuance and securing the payment of this Project Note, and reference is made to the Resolution for a more complete statement as to the source of payment of this Project Note and the rights of the owners of this Project Note. This Project Note, together with any additional obligations as may be hereafter issued and outstanding from time to time under the conditions set forth in the Resolution, shall be payable solely and only from the proceeds (the "Loan Proceeds") of an authorized Loan and Disbursement Agreement and the corresponding future issuance of Water Revenue Bonds, a sufficient portion of which have been appropriated to the payment hereof. The proceeds of this Project Note shall be used for the purposes set forth in the Resolution and shall be made available to the City in the form of one or more periodic disbursements. This Project Note shall be executed and delivered to the Lender in evidence of the City's obligation to repay the amounts payable hereunder and shall bear interest at 0%. This Project Note shall be payable as to principal in full on the Maturity Date (hereinafter defined) and in the total aggregate amount drawn by the City pursuant to this Project Note, shall be subject to prepayment in whole or in part on any date at a prepayment price equal to the principal amount hereof prepaid, and shall contain such other terms and provisions as provided in the Resolution. This Project Note is payable as to principal three years from the Project Note Date (the "Maturity Date"). If the City enters into a Loan and Disbursement Agreement with the Lender pursuant to the Iowa Water Pollution Control Works and Drinking Water Facilities Financing Program by the Maturity Date, the Lender may provide for the repayment in full of this Project Note pursuant to the terms of such Loan and Disbursement Agreement and the resolution authorizing the Loan and Disbursement Agreement. -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Page 816 of 853 Dubuque / 430411-29 /2"a'/z Hrg & Iss- P&D Water Rev This Project Note is executed pursuant to the provisions of Sections 76.13 and 384.24A of the Code of Iowa and shall be read and construed as conforming to all provisions and requirements of the statute. In the event of any inconsistency or conflict between the terms and conditions of the Resolution and this Project Note, the parties acknowledge and agree that the terms of this Project Note shall take precedence over any such terms of the Resolution. And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa, to exist, to be had, to be done or to be performed precedent to and in the issue of this Project Note were and have been properly existent, had, done and performed in regular and due form and time; and that the issuance of this Project Note does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF, the City of Dubuque, Iowa has caused this Project Note to be executed by its Mayor and attested by its City Clerk all as of the Project Note Date. Attest: DO NOT SIGN City Clerk CITY OF DUBUQUE, IOWA By: DO NOT SIGN Mayor IN WITNESS WHEREOF, I have hereunto affixed my signature all as of the date first above written. IOWA FINANCE AUTHORITY By: Its: -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Page 817 of 853 Dubuque / 430411-29 /2"a'/z Hrg & Iss- P&D Water Rev Section 4. The Project Note shall be executed as herein provided as soon after the adoption of this resolution as may be possible and thereupon shall be delivered to the Registrar for registration and delivery to the Lender, upon receipt of the Project Note proceeds. Section 5. The Loan Proceeds are hereby appropriated to the payment of the Project Note and may also be appropriated to the payment of other obligations issued to pay costs of the Project, but only to the extent that full provision has been made for the payment of principal of the Project Note. At its sole discretion, the City Council may appropriate to the payment of the Project Note proceeds to be received from state or federal grants and/or income or revenues from sources to be received and expended for the Project during the period of Project construction. The Project Note is a limited obligation of the City payable solely and only from the Loan Proceeds and shall not constitute a general obligation of the City, nor shall it be payable in any manner by taxation, and under no circumstances shall the City be in any manner liable by reason of the failure of the Loan Proceeds to be sufficient for the payment in whole or in part of the Project Note. Section 6. Upon a breach or default of a term of the Project Note or any Parity Obligations and this resolution, a proceeding may be brought in law or in equity by suit, action or mandamus to enforce and compel performance of the duties required under the terms of this resolution and Section 76.13 of the Code of Iowa. Section 7. The City reserves the right to issue additional obligations (the "Parity Obligations") payable from the Loan Proceeds, and ranking on a parity with, the Project Note. The Project Note or any Parity Obligations shall not be entitled to priority or preference one over the other in the application of the Loan Proceeds regardless of the time or times of the issuance of such Project Note or Parity Obligations, it being the intention of the City that there shall be no priority among the Project Note or Parity Obligations, regardless of the fact that they may have been actually issued and delivered at different times. Section 8. The provisions of this resolution shall constitute a contract between the City and the owners of the Project Note and Parity Obligations as may from time to time be outstanding, and after the issuance of the Project Note, no change, variation or alteration of any kind of the provisions of this resolution shall be made without prior consent of the Lender which will adversely affect the owners of the Project Note or Parity Obligations until the Project Note and Parity Obligations and the interest thereon shall have been paid in full. Section 9. If any section, paragraph, clause or provision of this resolution shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this resolution. Section 10. All resolutions and orders or parts thereof in conflict with the provisions of this resolution are, to the extent of such conflict, hereby repealed. -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Page 818 of 853 Dubuque / 430411-29 /2" '/ Hrg & lss- P&D Water Rev Section 11. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved July 6, 2026. Attest: City Clerk On motion and vote, the meeting adjourned. _ , _" PA' .� WOMEN"- .. Attest: 1�6✓ �tinaG A�*4 City Clerk -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Dubuque / 430411-29 /2nd Y: Hrg & Iss- P&D Water Rev ATTESTATION CERTIFICATE: STATE OF IOWA DUBUQUE COUNTY SS: CITY OF DUBUQUE I, the undersigned, do hereby certify that I have in my possession or have access to the complete corporate records of the aforesaid City and of its City Council and officers and that I have carefully compared the transcript hereto attached with the aforesaid corporate records and that the transcript hereto attached is a true, correct and complete copy of all the corporate records in relation to the authorization and approval of a certain Water Revenue Loan and Disbursement Agreement (the "Agreement") and of a certain $50,000 Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) (the "Project Note") 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. I further certify that no objections were filed in my office and no objections of any kind were made to the matter of entering into the Agreement or issuing such Project Note at the time and place set for hearing thereon, and that no petition of protest or objections of any kind have been filed or made, nor has any appeal been taken to the District Court from the decision of the City Council to enter into the Agreement or to issue the Project Note. �n II WITNESS MY HAND this -L day of Jtx f y , 2026. kua *421 City Clerk -8- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA UNITED STATES OF AMERICA STATE OF IOWA DUBUQUE COUNTY CITY OF DUBUQUE WATER REVENUE LOAN AND DISBURSEMENT AGREEMENT ANTICIPATION PROJECT NOTE (IFA INTERIM LOAN AND DISBURSEMENT AGREEMENT) No. 1 MAXIMUM PRINCIPAL AMOUNT: $50,000 INTEREST RATE PROJECT NOTE DATE MATURITY DATE 0% July 24, 2026 July 24, 2029 This Water Revenue Loan and Disbursement Agreement Anticipation Project Note (IFA Interim Loan and Disbursement Agreement) (the "Project Note") is issued to the Iowa Finance Authority (the "Lender") by the City of Dubuque, Iowa (the "City"), as of the Project Note Date. The Lender shall loan to the City an interim amount not to exceed $50,000. The City has adopted a resolution (the "Resolution") authorizing and approving this Project Note pursuant to the provisions of Sections 76.13 and 384.24A of the Code of Iowa, 2025, as amended, and providing for the issuance and securing the payment of this Project Note, and reference is made to the Resolution for a more complete statement as to the source of payment of this Project Note and the rights of the owners of this Project Note. This Project Note, together with any additional obligations as may be hereafter issued and outstanding from time to time under the conditions set forth in the Resolution, shall be payable solely and only from the proceeds (the "Loan Proceeds") of an authorized Loan and Disbursement Agreement and the corresponding future issuance of Water Revenue Bonds, a sufficient portion of which have been appropriated to the payment hereof. The proceeds of this Project Note shall be used for the purposes set forth in the Resolution and shall be made available to the City in the form of one or more periodic disbursements. This Project Note shall be executed and delivered to the Lender in evidence of the City's obligation to repay the amounts payable hereunder and shall bear interest at 0%. This Project Note shall be payable as to principal in full on the Maturity Date (hereinafter defined) and in the total aggregate amount drawn by the City pursuant to this Project Note, shall be subject to prepayment in whole or in part on any date at a prepayment price equal to the principal amount hereof prepaid, and shall contain such other terms and provisions as provided in the Resolution. This Project Note is payable as to principal three years from the Project Note Date (the "Maturity Date"). If the City enters into a Loan and Disbursement Agreement with the Lender pursuant to the Iowa Water Pollution Control Works and Drinking Water Facilities Financing Program by the Maturity Date, the Lender may provide for the repayment in full of this Project Note pursuant to the terms of such Loan and Disbursement Agreement and the resolution authorizing the Loan and Disbursement Agreement. Page 821 of 853 This Project Note is executed pursuant to the provisions of Sections 76.13 and 384.24A of the Code of Iowa and shall be read and construed as conforming to all provisions and requirements of the statute. In the event of any inconsistency or conflict between the terms and conditions of the Resolution and this Project Note, the parties acknowledge and agree that the terms of this Project Note shall take precedence over any such terms of the Resolution. And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa, to exist, to be had, to be done or to be performed precedent to and in the issue of this Project Note were and have been properly existent, had, done and performed in regular and due form and time; and that the issuance of this Project Note does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF, the City of Dubuque, Iowa has caused this Project Note to be executed by its Mayor and attested by its City Clerk all as of the Project Note Date. CITY OF DUBUQUE, IOWA I' / Attest: �•i,��inS2 A4a City Clerk IN WITNESS WHEREOF, I have hereunto affixed my signature all as of the date first above written. IOWA FINANCE AUTHORITY By: Its: Page 823 of 853 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: 06/21/2026 and for which the charge is 29.78 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 22nd day of June, 2026 Notary Pc in and for Dubuque County, Iowa. PiAI 3 JANET K. PAPE r Z�► 7 Commission Number 199659 My Commission Expires 12/11/2028 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 $50,000 (WATER REVENUE) The City Council of the City of Dubuque, Iowa, will meet on July 6, 2026, 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 $50,000 for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Municipal Waterworks Utility 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 Water 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. Trish Gleason, Assistant City Clerk 1t6/21