Sewer Revenue Capital Loan Notes_Catfish Creek North ForkTHE CITY OF DUBUQUE
Masterpiece on the Mississippi
Dubuque
All-American City
2007
SUBJECT: Proceedings to Set Public Hearing on the Issuance of not to exceed
$1,141,000 Sewer Revenue Capital Loan Notes (State of Iowa Revolving
Fund Loan)
DATE: May 23, 2008
Finance Director Ken TeKippe is recommending that a public hearing be set for
June 16, 2008, on the proposition of issuing not to exceed $1,141,000 in Sewer
Revenue Capital Loan Notes for construction of the North Fork Catfish Creek
Stormwater and Sanitary Sewer Improvements, Phase I Sanitary Sewer Project.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
AHL~RS t~COON~Y, P.C.
ATTORNEYS AT LAW
100 COURT AVENUE • SUITE 600
DES MOINES, IOWA 50309-2231
PHONE 515-243-7611
FAX: 515-243-2149
WWW.AHLERSLAW.COM
WILLIAM J. NOTH
WNOTH®AHLERSLAW.COM
May 13, 2008
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001=4864
RE: Not to exceed $1,141,000 Sewer Revenue Capital Loan Notes
(State of Iowa Revolving Fund Loan)
Dear Mr. TeKippe:
Direct Dial:
(515)246-0332
We have now prepared and are enclosing herewith suggested proceedings to be
acted upon by the Council in fixing the date of a meeting on the proposition to issue the
above mentioned Capital Loan Note and ordering publication of a notice of hearing
consistent with the provisions of Code Sections 384.24A and 384.82. Proceedings for the
date of the public hearing also are enclosed.
As you know, the borrowing of loan funds by the City through the Iowa Water
Pollution Control Works Financing Program involves the same procedures applicable to
the issuance and sale of municipal bonds generally. In this instance, the Iowa Finance
Authority (the "Authority") has agreed to make the City aloes-interest loan under the
terms of a Loan and Disbursement Agreement, which will be secured and evidenced by a
Sewer Revenue Capital Loan Note that will be issued to the Authority at the time the loan
is closed.
WISHARD $ BAILY - 1888; GUERNSEY $ GAILY - 1893; GAILY $ STIPP - 1901; ST1PP, PERRY. BANNISTER $ STARZINGER - 1914; BANNISTER, CARPENTER.
AHLERS $ GOONEY - 1950; AHLERS, GOONEY, DORWEILER, ALLBEE, HAYNIE $ SMITH - 1974; AHLERS. GOONEY. DORWEILER. HAYNIE. SMRH $ALLBEE. P.C. - 1990
May 13, 2008
Page 2
Notice of this meeting must be published at least once in a legal newspaper,
printed wholly in the English language, published at least once weekly, and having
general circulation in the City. The date of publication is to be not less than four clear
days nor more than twenty days before the date of said public meeting. In computing
time, the date of publication should be excluded. If the last day falls on Sunday, the
whole of the following Monday should be excluded.
Also enclosed is an extra copy of the proceedings to be filled in as the original and
certified back to this office, together with publisher's affidavit of publication of notice of
hearing. We are also enclosing an extra copy of the notice of hearing to be delivered to
the newspaper for publication purposes. A certificate to attest the proceedings is also
enclosed.
The public hearing 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 authorize the form of Loan and Disbursement Agreement and issue the
Notes to the 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."
Section 384.83 of the Code of Iowa provides that any resident or property owner of
the City may appeal the decision to take additional action 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, please see that we
are notified immediately; and, as soon as available, a copy of the notice of appeal should
be furnished our office for review.
In the event the Council decides to abandon the proposal then the form of
resolution included in said proceedings should not be adopted. We would suggest that, in
this event, a motion merely be adopted to the effect that such proposal is abandoned.
May 13, 2008
Page 3
The Resolution taking additional action also acknowledges and approves of the
terms of the SRF loan program, a general description of which is enclosed for your
review. As you may know, the terms of the loan being offered to the City are established
primarily by reference to two external sources: the Authority's administrative rules
governing the SRF Program and, to a lesser extent, by the terms of the bonds issued by
the Authority to fund the City's loan. These loan terms are not negotiable by individual
borrowers, and the City's decision to participate in the SRF Program effectively commits
it to accept a loan on the stated terms.
Should you have any questions concerning the enclosed proceedings or the SRF
Program, please don't hesitate to contact me.
Yours very truly,
~~~~~~
William J. Noth
WJN:dc
encl.
DCORNELL\579557.1 \WP\ 10422082
ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: June 2 , 2008.
Time of Meeting: 5 = 3 0 o'clock P .M.
Place of Meeting: Historic Federal Building, 350 West 6th Street, Dubuque,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for said
meeting is as follows:
Not to exceed $1,141,000 Sewer Revenue Capital Loan Notes
Resolution fixing date for a meeting on the proposition to authorize a Loan
and Disbursement Agreement and the issuance of Notes to evidence the
obligations of the City thereunder.
Such additional matters as are set forth on the additional 14 page(s) attached
hereto.
(number)
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
City Clerk, Dubuque, Iowa
June 3 , 2008
The City Council of Dubuque, Iowa, met in Regular session, in the Historic
Federal Building, 350 West 6th Street, Dubuque, Iowa, at 6.30 o'clock P .M., on the
above date. There were present Mayor Rov D . Buol , in the chair, and
the following, named Council Members:
Karla Braig, Joyce Connors, Kevin Lynch,
Ric Jones David Resnick, Dirk Voetberg
Absent: None
-2-
Council Member Kevin Lynch introduced the following
Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $1,141,000 SEWER REVENUE CAPITAL LOAN
NOTES OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF", and moved that the same be adopted. Council Member
Joyce Connors seconded the motion to adopt. The roll was called and the
vote was,
AYES: Braig, Buol, Connors, Jones,
Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 185-08
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT
AND THE ISSUANCE OF NOT TO EXCEED $1,141,000 SEWER
REVENUE CAPITAL LOAN NOTES OF DUBUQUE, IOWA, AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Dubuque, Iowa
should provide for the authorization of a Loan and Disbursement Agreement and the
issuance of Sewer Revenue Capital Loan Notes, in the amount of not to exceed
$1,141,000, as authorized by Sections 384.24A and 384.82, Code of Iowa, as amended,
for the purpose of providing funds to pay costs as hereinafter described; and
WHEREAS, the City has applied for a loan through the Iowa Water Pollution
Control Works Financing Program pursuant to which the Iowa Finance Authority has
agreed to purchase the City's Notes and has requested that such Notes be issued as a
single Note in a denomination equal to the total amount of the issue as authorized by
Chapter 384 of the City Code of Iowa; and
WHEREAS, the Loan and Disbursement Agreement and Note shall be payable
solely and only out of the net earnings of the Municipal Sewer System and shall be a first
lien on the future net earnings of the Utility; and shall not be general obligations of the
-3-
City or payable in any manner by taxation and the City shall be in no manner liable by
reason of the failure of the net revenues to be sufficient for the payment of the Loan and
Disbursement Agreement and Note; and
WHEREAS, before a Loan and Disbursement Agreement may be authorized and
Sewer Revenue Capital Loan Notes issued to evidence the obligation of the City
thereunder, it is necessary to comply with the provisions of the City Code of Iowa, as
amended, and to publish a notice of the proposal and of the time and place of the meeting
at which the Council proposes to take action for the authorization of the Loan and
Disbursement Agreement and Notes and to receive oral and/or written objections from
any resident or property owner of the City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE; IOWA:
Section 1. That this Council meet in the Historic Federal Building, 350 West 6th
Street, Dubuque, Iowa, at 6:30 o'clock P .M., on the 16th day of
June , 2008, for the purpose of taking action on the matter of the
authorization of a Loan and Disbursement Agreement and the issuance of not to exceed
$1,141,000 Sewer Revenue Capital Loan Notes to evidence the obligations of the City
thereunder, the proceeds of which will be used to provide funds to pay the costs of
acquisition, construction, reconstruction, extending, remodeling, improving, repairing and
equipping all or part of the Municipal Sewer System, including those costs associated
with construction of the North Fork Catfish Creek Stormwater and Sanitary Sewer
Improvements, Phase I Sanitary Sewer Project.
Section 2. That the Clerk is hereby directed to cause at least one publication to be
made of a notice of said meeting, in a legal newspaper, printed wholly in the English
language, published at least once weekly, and having general circulation in said City, said
publication to be not less than four clear days nor more than twenty days before the date
of said public meeting on the issuance of the Notes.
Section 3. The notice of the proposed action shall be in substantially the following
form:
-4-
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA ON THE MATTER OF THE PROPOSED
AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT
AND THE ISSUANCE OF NOT TO EXCEED $1,141,000 SEWER
REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC HEARING ON
THE AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby ~iven that the Council of the City of Dubuque, Iowa,
will hold a public hearing on the 16t day of June, 2008, at 6:30 p.m., in the Historic
Federal Building, 350 West 6th Street, Dubuque, Iowa, at which meeting the Council
proposes to take additional action for the authorization of a Loan and Disbursement
Agreement by and between the City and the Iowa Finance Authority, and the issuance
to the Iowa Finance Authority of not to exceed $1,141,000 Sewer Revenue Capital Loan
Notes to evidence the obligations of the City under said Loan and Disbursement
Agreement, in order to provide funds to pay the costs of acquisition, construction,
reconstruction, extending, remodeling, improving, repairing and equipping all or part of
the Municipal Sewer System, including those costs associated with construction of the
North Fork Catfish Creek Stormwater and Sanitary Sewer Improvements, Phase I
Sanitary Sewer Project. The Notes will not constitute general obligations or be payable
in any manner by taxation, but will be payable from and secured by the net revenues of
the Municipal Sewer System.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City, to the above action. After all objections have
been received and considered, the Council will at this meeting or at any adjournment
thereof, take additional action for the authorization of said Loan and Disbursement
Agreement and the issuance of Notes or will abandon the proposal to issue the Notes.
This Notice is given by order of the Council of Dubuque, Iowa, as provided by
Sections 384.24A and 384.83 of the City Code of Iowa, as amended.
Dated this 6th day of June, 2008.
Jeanne F. Schneider, CMC
City Clerk
1 t 6/6
PASSED AND APPROVED this 2nd day of June , 2008.
Mayor
ATTEST:
City Clerk
CERTIFICATE
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said law
and with members of the public present in attendance; I further certify that the individuals
named therein were on the date thereof duly and lawfully possessed of their respective
city offices as indicated therein, that no Council vacancy existed except as may be stated
in said proceedings, and that no controversy or litigation is pending, prayed or threatened
involving the incorporation, organization, existence or boundaries of the City or the right
of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of said Municipality hereto affixed this
3rd day of June , 2008.
City Clerk, Dubuque, Iowa
SEAL
DCORNELL\5 795 59. I \WP\ 10422082
-7-
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
CIG-18
I, the undersigned, do hereby certify that I am now and was at the times hereinafter
mentioned, the duly qualified and acting Clerk of the City of Dubuque, in the County of
Dubuque, State of Iowa, and that as such Clerk and by full authority from the Council of
said City, I have caused a
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED
AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT AND
THE ISSUANCE OF NOT TO EXCEED $1,141,000 SEWER REVENUE
CAPITAL LOAN NOTES AND THE PUBLIC HEARING ON THE
AUTHORIZATION AND ISSUANCE THEREOF
of which the clipping annexed to the publisher's affidavit hereto attached is in words and
figures a correct and complete copy, to be published as required by law in the Telegraph
Herald, a legal newspaper published at least once weekly, printed wholly in the English
language, published regularly and mailed through the post office of current entry for more
than two years and which has had for more than two years a bona fide paid circulation
recognized by the postal laws of the United States, and has a general circulation in the
City, and that said Notice was published in said newspaper in all of the issues thereof
published and circulated on the following date:
2008
WITNESS my official signature at Dubuque, Iowa, this day of
2008.
Clerk
SEAL
DCORNELL\579562. I \WP110422082