12 15 08 City Council Proceedings Official
CITY OF DUBUQUE, IOWA
CITY COUNCIL PROCEEDINGS
OFFICIAL
The Dubuque City Council met in regular session at 6:30 p.m. on December 15, 2008 in the
Historic Federal Building.
Present: Mayor Buol, Council Members Braig, Connors, Jones, Lynch, Resnick, Voetberg,
City Manager Van Milligen, City Attorney Lindahl
Mayor Buol read the call and stated this is a regular session called for the purpose of
discussing such matters which may properly come before the City Council.
Invocation was provided by Father John Haugen of Loras College
CONSENT ITEMS
Motion by Lynch to receive and file the documents, adopt the resolutions, and dispose of as
indicated. Seconded by Voetberg. Motion carried 7-0.
Minutes and Reports Submitted: Cable TV Regulatory Commission of 11/12; Cable TV
Teleprogramming Commission of 11/12; City Council of 12/1; Civil Service Commission of
11/17 and 11/25; Electrical Code Board of 12/1; Environmental Stewardship Advisory
Commission of 12/2; Human Rights Commission of 11/10; Zoning Advisory Commission of
11/5; Zoning Board of Adjustment of 11/20
Library Board of Trustees Update from meeting of November 20, 2008
Proofs of publication of City Council Proceedings of November 17, 2008 (Special Session
and Regular Session) and November 21, 2008 and List of Claims and Summary of Revenues
for the month ended October 31, 2008
Printed Official Proceedings of the City Council for 2007
Upon motion the documents were received and filed.
Claims/Suits: City Attorney advising that the following claims have been referred to Public
Entity Risk Services of Iowa, the agent for the Iowa Communities Assurance Pool: Grand
Opera House for property damage and Amanda Reynolds for vehicle damage.
City Attorney recommending settlement of the claim of Irene Holz for property damage.
Upon motion the documents were received and filed and concurred.
Civil Service Commission: Civil Service Commission submitting the certified lists for the
positions of Foreman and Park Ranger. Upon motion the documents were received and filed
and made a Matter of Record.
Five Flags Sidewalk Replacement Project: City Manager recommending acceptance of the
Five Flags Sidewalk and Lighting Replacement Project as completed by Portzen Construction,
Inc., in the final contract amount of $232,158.83. Upon motion the documents were received
and filed and Resolution No. 423-08 Accepting the Five Flags Sidewalk and Lighting
Replacement Project and authorizing payment of the contract amount to the contractor was
adopted.
RESOLUTION NO. 423-08
ACCEPTING THE FIVE FLAGS SIDEWALK AND LIGHTING REPLACEMENT PROJECT
AND AUTHORIZING THE PAYMENT OF THE CONTRACT AMOUNT TO THE
CONTRACTOR
Whereas, the Public Improvement Contract for the Five Flags Sidewalk and Lighting
Replacement Project (the Project) has been completed and the City Engineer has examined
the work and filed a certificate stating that the Project has been completed according to the
terms of the Public Improvement Contract and that the City Engineer recommends that the
Project be accepted; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. The recommendation of the City Engineer is approved and the Project is hereby
accepted.
Section 2. The Finance Director is hereby directed to pay to the Contractor from the Five
Flags Sidewalk Replacement Fund, Main Street Historic Lights Fund, Downtown Street Light
Replacement Fund, Traffic Signal Intersection Reconstruction Fund, Fiber Optic Conduit-
Private Sub & Misc. Projects Fund, FY 2008 Street Construction Program Fund and Storm
Sewer Improvements Fund appropriation for the contract amount of $232,158.83 less any
retained percentage provided for therein as provided in Iowa Code chapter 573, and to pay
such retainage only in accordance with the provisions of Iowa Code chapter 573.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
CITY ENGINEER’S CERTIFICATE OF FINAL COMPLETION OF THE FIVE FLAGS
SIDEWALK AND LIGHTING REPLACEMENT PROJECT
The undersigned City Engineer of the City of Dubuque, Iowa, hereby certifies that he has
inspected the Five Flags Sidewalk and Lighting Replacement Project, that the Project has
been performed in compliance with the terms of the Public Improvement Contract, and that the
total cost of the completed work is $248,746.83.
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Dated this 15 day of December, 2008.
Gus Psihoyos, City Engineer
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Filed in the office of the City Clerk on the 15 day of December, 2008.
Jeanne F. Schneider, CMC, City Clerk
Fire Station No. 2, John F. Kennedy Road Parking Lot Reconstruction Project: City Manager
recommending acceptance of the Fire Station No. 2, John F. Kennedy Road Parking Lot
Reconstruction Project as completed by Portzen Construction, Inc., in the final contract amount
of $73,470.34. Upon motion the documents were received and filed and Resolution No. 424-08
Accepting the Fire Station No. 2 – John F. Kennedy Road Parking Lot Reconstruction Project
and authorizing payment of the contact amount to the contractor was adopted.
RESOLUTION NO. 424-08
ACCEPTING THE FIRE STATION NO. 2 – JOHN F. KENNEDY ROAD PARKING LOT
RECONSTRUCTION PROJECT AND AUTHORIZING THE PAYMENT OF THE CONTRACT
AMOUNT TO THE CONTRACTOR
Whereas, the Public Improvement Contract for the Fire Station No. 2 – John F. Kennedy
Road Parking Lot Reconstruction Project (the Project) has been completed and the City
Engineer has examined the work and filed a certificate stating that the Project has been
completed according to the terms of the Public Improvement Contract and that the City
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Engineer recommends that the Project be accepted; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. The recommendation of the City Engineer is approved and the Project is hereby
accepted.
Section 2. The Finance Director is hereby directed to pay to the Contractor from the Fire
Station No. 2 – JFK Parking Lot Reconstruction CIP (1012055) appropriation for the contract
amount of $73,470.34 less any retained percentage provided for therein as provided in Iowa
Code chapter 573, and to pay such retainage only in accordance with the provisions of Iowa
Code chapter 573.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
CITY ENGINEER’S CERTIFICATE OF FINAL COMPLETION OF THE FIRE STATION NO. 2
– JOHN F. KENNEDY ROAD PARKING LOT RECONSTRUCTION PROJECT
The undersigned City Engineer of the City of Dubuque, Iowa, hereby certifies that he has
inspected the Fire Station No. 2 – John F. Kennedy Road Parking Lot Reconstruction Project,
that the Project has been performed in compliance with the terms of the Public Improvement
Contract, and that the total cost of the completed work is $81,252.09.
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Dated this 15 day of December, 2008.
Gus Psihoyos, City Engineer
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Filed in the office of the City Clerk on the 15 day of December, 2008.
Jeanne F. Schneider, CMC, City Clerk
Timber-Hyrst Estates, Phase I – Acceptance: City Manager recommending acceptance of
the public improvements which the developer, North Cascade Road Developers, LLC (NCR
Developers), has recently completed in Timber-Hyrst Estates. Upon motion the documents
were received and filed and Resolution No. 425-08 Accepting public improvements in Timber-
Hyrst Estates was adopted.
RESOLUTION NO. 425-08
ACCEPTING PUBLIC IMPROVEMENTS IN TIMBER-HYRST ESTATES
Whereas, pursuant to Resolution 167-06, certain public improvements including street
paving with curb and gutter, sanitary sewer, watermain, storm sewer, catch basins, and street
lighting were installed by the developer of the Timber-Hyrst Estates.
Whereas, the improvements have been completed and the City Manager has examined the
work and has filed a certificate stating that the same has been completed in accordance with
the plans approved by the City Council and in conformance with City specifications, and has
recommended that the improvements be accepted by the City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the recommendation of the City Manager be approved and that said public
improvements in the Timber-Hyrst Estates be and the same is hereby accepted.
Section 2. That maintenance of said public improvements shall be the responsibility of the
owner for a period of two (2) years from the date of this resolution.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
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Stone Brook Center Second Addition – Acceptance: City Manager recommending
acceptance of the public improvements which the developer, NEZTROP, LLC has recently
completed in Stone Brook Center Second Addition. Upon motion the documents were received
and filed and Resolution No. 426-08 Accepting public improvements in Stone Brook Center
Second Addition was adopted.
RESOLUTION NO. 426-08
ACCEPTING PUBLIC IMPROVEMENTS IN STONE BROOK CENTER SECOND ADDITION
Whereas, pursuant to Resolution 61-04, certain public improvements including street paving
with curb and gutter, sanitary sewer, watermain, storm sewer, catch basins, boulevard street
lighting, and a stormwater detention facility were installed by the developer of the Stone Brook
Center Second Addition.
Whereas, the improvements have been completed and the City Manager has examined the
work and has filed a certificate stating that the same has been substantially completed in
accordance with the plans approved by the City Council and in conformance with City
specifications, and has recommended that the improvements be accepted by the City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the recommendation of the City Manager be approved and that said public
improvements, except the stormwater detention facilities, in the Stone Brook Center Second
Addition be and the same is hereby accepted.
Section 2. That maintenance of said public improvements shall be the responsibility of the
owner for a period of two (2) years from the date of this resolution.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
Eagle Valley Subdivision – Acceptance: City Manager recommending acceptance of the
public improvements that the developer, Fondell Excavating, Inc., has recently completed in
Eagle Valley Subdivision in the City of Dubuque, Iowa. Upon motion the documents were
received and filed and Resolution No.427-08 Accepting Public Improvements in Eagle Valley
Subdivision was adopted.
RESOLUTION NO. 427-08
ACCEPTING IMPROVEMENTS IN EAGLE VALLEY SUBDIVISION IN THE CITY OF
DUBUQUE, IOWA
Whereas, pursuant to 434-05, 479-04. and 293-03, certain public improvements including
street paving with curb, sanitary sewer main, watermain, storm sewer and catch basins,
boulevard street lighting, and stormwater detention facilities were installed by the developer of
Eagle Valley Subdivision in the City of Dubuque, Iowa; and
Whereas, the improvements have been completed and the City Manager has examined the
work and has filed a certificate stating that the same has been completed in accordance with
the plans approved by the City Council and in conformance with City specifications, and has
recommended that the improvements be accepted by the City Council.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
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Section 1. That the recommendation of the City Manager be approved and that said public
improvements, except the stormwater detention facilities, in Eagle Valley Subdivision in the
City of Dubuque, Iowa, be and the same is hereby accepted.
Section 2. That maintenance of said improvements shall be the responsibility of Fondell
Excavating, Inc., Morse Electric, Inc. and River City Paving, A Division of Mathy Construction
Co., for a period of two (2) years from the date of this resolution.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
2008 Weed Assessments: City Manager recommending approval of the levy of special
assessments for the second half of the 2008 Weed Enforcement Program in the total amount
of $1,810. Upon motion the documents were received and filed and Resolution No. 428-08
Adopting the schedule of assessments for the second half of the 2008 Weed/Garbage/Junk
Enforcement Program specifying the number of annual installments into which assessments
are divided, the interest on all unpaid installments, the time when the assessments are payable
and directing the clerk to certify the schedule of assessments to the County Treasurer and to
publish notice thereof was adopted.
RESOLUTION NO. 428-08
ADOPTING THE SCHEDULE OF ASSESSMENTS FOR THE SECOND HALF OF THE 2008
WEED/GARBAGE/JUNK ENFORCEMENT PROGRAM SPECIFYING THE NUMBER OF
ANNUAL INSTALLMENTS INTO WHICH ASSESSMENTS ARE DIVIDED, THE INTEREST
ON ALL UNPAID INSTALLMENTS, THE TIME WHEN THE ASSESSMENTS ARE PAYABLE
AND DIRECTING THE CLERK TO CERTIFY THE SCHEDULE OF ASSESSMENTS TO THE
COUNTY TREASURER AND TO PUBLISH NOTICE THEREOF
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
That after full consideration of the Schedule of Assessments for the Second Half of the 2008
Weed/Garbage/Junk Enforcement Program which Schedule of Assessments was filed in the
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office of the City Clerk on the 9 day of December, 2008, the said Schedule of Assessments
be and the same is hereby approved and adopted.
That there be, and is herby assessed and levied as a special tax against and upon each of
the lots, the respective sums indicated.
That the City Clerk be and is hereby directed to certify said schedule to the County
Treasurer of Dubuque County, Iowa, and to publish notice of said certification once each week
for two consecutive weeks in the manner provided in Iowa Code § 362.3, the first publication of
which shall be not more than fifteen days from the date of filing of the final schedule. On or
before the date of the second publication of the notice, the City Clerk shall also mail a copy of
said notice to property owners whose property is subject to assessment, as provided and
directed in Iowa Code § 384.60.
The assessments may be paid in full or in part without interest at the office of the City
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Treasurer, City Hall, 50 W. 13 Street, Dubuque, Iowa, at any time within 30 days after the
date of the first publication of the notice of the filing of the Schedule of Assessments with the
County Treasurer. After 30 days, unpaid assessments of $100.00 or more are payable in 10
annual installments at the County Treasurer’s Office, Dubuque County Courthouse, 720
Central Avenue, Dubuque, Iowa, and will draw annual interest at nine (9) percent
(commencing on the date of acceptance of the work) computed to December 1 next following
the due dates of the respective installments as provided in Section 384.65 of the Code of Iowa.
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Each installment will be delinquent from October 1 following its due date on July 1 of each
year. Property owners may elect to pay any annual installments semiannually in advance.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
Neighborhood Stabilization Program Funds: City Manager recommending approval of an
application to the Iowa Department of Economic Development (IDED) for Neighborhood
Stabilization Program funds. Upon motion the documents were received and filed and
Resolution No. 429-08 Authorizing submission of an application to the Iowa Department of
Economic Development (IDED) for Neighborhood Stabilization Program Funds was adopted.
RESOLUTION NO. 429-08
RESOLUTION AUTHORIZING SUBMISSION OF AN APPLICATION TO THE IOWA
DEPARTMENT OF ECONOMIC DEVELOPMENT (IDED) FOR NEIGHBORHOOD
STABILIZATION PROGRAM FUNDS
Whereas, the US Department of Housing and Urban Development (HUD) has made
available funding to state and local governments to respond to the increased number of
foreclosures, by passage of the Housing and Economic Recovery Act of 2008; and
Whereas, IDED has allocated $459 406 of these Neighborhood Stabilization Program funds
to Dubuque, to acquire and redevelop foreclosed properties that might otherwise become
sources of abandonment and blight; and
Whereas, IDED requires submission of an application for approval of this allocation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That an application to IDED for these funds is hereby approved.
Section 2. That the City Manager is hereby directed to sign this application and resulting
standard contract.
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Passed, approved and adopted this 15 day of December 2008.
Roy D Buol, Mayor
Attest: Jeanne F Schneider, CMC, City Clerk
Purchase of Property – 2273 / 2301 Prince Street: City Manager recommending approval of
the purchase of a residential rental dwelling located at 2273 / 2301 Prince Street as part of the
acquisition program associated with the Bee Branch Creek Restoration Project. Upon motion
the documents were received and filed and Resolution No. 430-08 Approving the acquisition of
real estate located at 2273 / 2301 Prince Street in the City of Dubuque, Iowa, was adopted.
RESOLUTION NO. 430-08
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE LOCATED AT 2273-
2301 PRINCE STREET, IN THE CITY OF DUBUQUE
WHEREAS, the City of Dubuque intends to acquire certain properties located in the area of
the Bee Branch Creek Restoration Project for stormwater mitigation activities as recommended
in the 2001 HDR “Drainage Basin Master Plan;” and
WHEREAS, a purchase agreement has been finalized with the owner of the fifty eighth
property scheduled for acquisition.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves the acquisition of the following legally
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described property:
Lot 56 in Sanford Subdivision in the City of Dubuque, Iowa, according to the recorded Plat
thereof
At the cost of One Hundred Nineteen thousand dollars ($119,000).
Section 2. That the City of Dubuque be and is hereby authorized to accept a Quit Claim
deed from the owner, conveying the owner’s interest to the City of Dubuque, Iowa for the
herein described real estate.
Section 3. That the City Clerk be and she is hereby authorized and directed to cause said
Quit Claim Deed to be recorded in the office of the Dubuque County Recorder, together with
certified copy of the Resolution.
Section 4. That the City Clerk be and she is hereby directed to forward a copy of this
Resolution to the Dubuque County Assessor and the Dubuque County Auditor.
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Passed, approved and adopted this15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne Schneider, CMC, City Clerk
Purchase of Property – 1575 Maple Street: City Manager recommending approval of the
purchase of a residential dwelling located at 1575 Maple Street as part of the acquisition
program associated with the Bee Branch Creek Restoration Project. Upon motion the
documents were received and filed and Resolution No. 431-08 Approving the acquisition of
real estate located at 1575 Maple Street in the City of Dubuque, Iowa, was adopted.
RESOLUTION NO. 431-08
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE LOCATED AT 1575
MAPLE STREET, IN THE CITY OF DUBUQUE
WHEREAS, the City of Dubuque intends to acquire certain properties located in the area of
the Bee Branch Creek Restoration Project for stormwater mitigation activities as recommended
in the 2001 HDR “Drainage Basin Master Plan;” and
WHEREAS, a purchase agreement has been finalized with the owner of the fifty ninth
property scheduled for acquisition.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves the acquisition of the following legally
described property:
Lot 290 in East Dubuque Addition No. 2 in the City of Dubuque, Iowa, according to the
recorded plat thereof.
At the cost of Seventy thousand dollars ($70,000).
Section 2. That the City of Dubuque be and is hereby authorized to accept a Quit Claim
deed from the owner, conveying the owner’s interest to the City of Dubuque, Iowa for the
herein described real estate.
Section 3. That the City Clerk be and she is hereby authorized and directed to cause said
Quit Claim Deed to be recorded in the office of the Dubuque County Recorder, together with
certified copy of the Resolution.
Section 4. That the City Clerk be and she is hereby directed to forward a copy of this
Resolution to the Dubuque County Assessor and the Dubuque County Auditor.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne Schneider, CMC, City Clerk
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Purchase of Property – 510-512 Rhomberg Avenue: City Manager recommending approval
of the purchase of a rental dwelling located at 510 - 512 Rhomberg Avenue as part of the
acquisition program associated with the Bee Branch Creek Restoration Project. Upon motion
the documents were received and filed and Resolution No. 432-08 Rescinding Resolution No.
142-08 which contained an incorrect legal description and approving this resolution for the
acquisition of real estate located at 510, 510½, and 512 Rhomberg Avenue, in the City of
Dubuque, Iowa, was adopted.
RESOLUTION NO. 432-08
RESOLUTION RESCINDING RESOLUTION NO. 142-08 WHICH CONTAINED AN
INCORRECT LEGAL DESCRIPTION AND APPROVING THIS RESOLUTION FOR THE
ACQUISITION OF REAL ESTATE LOCATED AT 510, 510½, 512 RHOMBERG AVENUE, IN
THE CITY OF DUBUQUE
WHEREAS, the City of Dubuque intends to acquire certain properties located in the area of
the Bee Branch Creek Restoration Project for stormwater mitigation activities as recommended
in the 2001 HDR “Drainage Basin Master Plan;” and
WHEREAS, a purchase agreement has been finalized with the owner of the thirty-ninth
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(39) property scheduled for acquisition.
WHEREAS, Resolution No. 142-08 approving the acquisition of real estate located at 510,
510½, 512 Rhomberg Avenue, in the City of Dubuque contained an incorrect legal description.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby rescinds Resolution No. 142-08 and approves
this new Resolution for the acquisition of real estate located at 510, 510½, 512 Rhomberg
Avenue, in the City of Dubuque for the following legally described property:
Lot 1 of the Subdivision of Lot 33 of High Street Subdivision; and Lots 16 and 16A of
Smedley’s Subdivision; in the City of Dubuque, Iowa, according to the recorded plat
thereof.
At the cost of Eighty-five thousand dollars ($85,000).
Section 2. That the City of Dubuque be and is hereby authorized to accept a Quit Claim
deed from the owner, conveying the owner’s interest to the City of Dubuque, Iowa for the
herein described real estate.
Section 3. That the City Clerk be and she is hereby authorized and directed to cause said
Quit Claim Deed to be recorded in the office of the Dubuque County Recorder, together with
certified copy of the Resolution.
Section 4. That the City Clerk be and she is hereby directed to forward a copy of this
Resolution to the Dubuque County Assessor and the Dubuque County Auditor.
Section 5. This Ordinance shall take effect upon publication.
Passed, approved and adopted this 15th day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne Schneider, CMC, City Clerk
Purchase of Property – 2290 Washington Street: City Manager recommending approval of
the purchase of a residential dwelling located at 2290 Washington Street as part of the
acquisition program associated with the Bee Branch Creek Restoration Project. Upon motion
the documents were received and filed and Resolution No. 433-08 Approving the acquisition of
real estate located at 2290 Washington Street in the City of Dubuque, Iowa, was adopted.
RESOLUTION NO. 433-08
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A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE LOCATED AT 2290
WASHINGTON STREET, IN THE CITY OF DUBUQUE
WHEREAS, the City of Dubuque intends to acquire certain properties located in the area of
the Bee Branch Creek Restoration Project for stormwater mitigation activities as recommended
in the 2001 HDR “Drainage Basin Master Plan;” and
WHEREAS, a purchase agreement has been finalized with the owner of the sixtieth property
scheduled for acquisition.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves the acquisition of the following legally
described property:
Lot 1 of the Subdivision of the South 45 feet of Lot 104 in L.H. Langworthy’s Addition in the
City of Dubuque, Iowa, according to the recorded Plat thereof
Subject to easements, restrictions, covenants, ordinances and limited access provisions of
record.
At the cost of Eighty-five thousand dollars ($85,000).
Section 2. That the City of Dubuque be and is hereby authorized to accept a Quit Claim
deed from the owner, conveying the owner’s interest to the City of Dubuque, Iowa for the
herein described real estate.
Section 3. That the City Clerk be and she is hereby authorized and directed to cause said
Quit Claim Deed to be recorded in the office of the Dubuque County Recorder, together with
certified copy of the Resolution.
Section 4. That the City Clerk be and she is hereby directed to forward a copy of this
Resolution to the Dubuque County Assessor and the Dubuque County Auditor.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne Schneider, CMC, City Clerk
Administrative Services Fee Renewal – Flexible Spending Plan: City Manager
recommending approval of the renewal rates from Total Administrative Services Corporation
(TASC) for administration of the City’s flexible spending plan. Upon motion the documents
were received, filed, and approved.
Human Rights Commission Annual Report: Human Rights Commission submitting the
Annual Report for Fiscal Year 2008. Upon motion the document was received and filed.
Alcohol Compliance – Civil Penalties for Alcohol License Holders: City Manager
recommending approval of the Acknowledgement/Settlement Agreements for a first offense
alcohol compliance violation for El Paisano Grocery Store and Isabella’s at the Ryan House.
Upon motion the documents were received, filed, and approved.
Citizen Communication: Communication from Jim and Anita Sullivan regarding the West
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32 Street Detention Basin. Upon motion the documents were received and filed and referred
to the City Manager.
Amendment to B & G Consulting, LLC Agreement: City Manager recommending approval of
an amendment to the consulting agreement with B & G Development, LLC for identifying and
marketing City parcels or facilities to New Market Tax Credit Community Development Entities.
Upon motion the documents were received, filed, and approved.
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WS Live – Community Development Block Grant (CDBG) Loan Agreement: City Manager
recommending approval of a $375,000 forgivable loan request from WS Live, LLC for funding
through the City’s Community Development Block Grant (CDBG) Economic Development Loan
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Program to assist in the company’s relocation to 131 W. 10 Street. Upon motion the
documents were received and filed and Resolution No. 434-08 Authorizing a commitment letter
and the execution of a Community Development Block Grant Loan of Three Hundred Seventy-
Five Thousand Dollars ($375,000) to WS Live, LLC, was adopted.
RESOLUTION NO. 434-08
A RESOLUTION AUTHORIZING A COMMITMENT LETTER AND THE EXECUTION OF A
COMMUNITY DEVELOPMENT BLOCK GRANT LOAN OF THREE HUNDRED SEVENTY-
FIVE THOUSAND DOLLARS ($375,000) TO WS LIVE, LLC.
Whereas, under provisions of Title I of the Housing and Community Development Act of
1974, as amended, the City of Dubuque has received Community Development Block Grant
Funds for the purpose of stimulating economic development activities within the community;
and
Whereas, the City of Dubuque, Iowa desires to assist WS Live, LLC and to create new
permanent employment opportunities for low and moderate income citizens.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the attached CDBG loan agreement is hereby approved.
Section 2. That the City Manager is hereby authorized to execute, on behalf of the City
Council of the City of Dubuque, Iowa, all necessary loan documents and is further authorized
to disburse loan funds from the CDBG Economic Development Loan Program, in accordance
with the terms and conditions of the executed agreement.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, City Clerk
Interstate Building, LLLP and WS Live, LLC – First Amendment to Development Agreement:
City Manager recommending approval of the First Amendment to the Development Agreement
with Interstate Building, LLLP and WS Live, LLC to reflect changes in employment numbers
and that WS Live must be completely out of their current facility by January 15, 2009. Upon
motion the documents were received and filed and Resolution No. 435-08 Approving the first
amendment to the Interstate Building, LLLP and WS Live, LLC Development Agreement was
adopted.
RESOLUTION NO. 435-08
RESOLUTION APPROVING THE FIRST AMENDMENT TO THE INTERSTATE BUILDING,
LLLP AND WS LIVE, LLC DEVELOPMENT AGREEMENT
Whereas, a Development Agreement (the Agreement), dated November 3, 2008, was
entered into by and between the City of Dubuque, a municipal corporation of the State of Iowa
(City), and Interstate Building, LLLP and WS Live, LLC; and
Whereas, City and Interstate Building, LLLP and WS Live, LLC now desire to amend the
Development Agreement as set forth attached First Amendment.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the First Amendment of the Interstate Building, LLLP and WS Live, LLC
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Development Agreement is hereby approved.
Section 2. That the Mayor is hereby authorized and directed to execute said First
Amendment on behalf of the City of Dubuque and the City Clerk is authorized and directed to
attest to his signature.
Section 3. That the City Manager is authorized to take such actions as are necessary to
implement the terms of the First Amendment as herein approved.
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Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
West Side Annexation: Joint Motion: City Manager transmitting a letter from Asbury City
Administrator Beth Bonz and the joint motion by Dubuque and Asbury supporting the voluntary
annexation of Sandwedge Subdivision to the City of Asbury. Upon motion the documents were
received and filed.
Dubuque Main Street, Ltd Program Agreement: City Manager recommending approval of a
Program Agreement between Dubuque Main Street, Ltd., the City of Dubuque and the Iowa
Department of Economic Development. Upon motion the documents were received and filed
and Resolution No. 436-08 Resolution of Support and financial commitment for the Main Street
Program in Dubuque, Iowa, was adopted.
RESOLUTION NO. 436-08
RESOLUTION OF SUPPORT AND FINANCIAL COMMITMENT FOR THE MAIN STREET
PROGRAM IN DUBUQUE
WHEREAS, an Agreement between the Iowa Department of Economic Development,
Dubuque Main Street, Ltd. and the City of Dubuque for the purpose of continuing the Main
Street Iowa program in Dubuque; and
WHEREAS, this Agreement is pursuant to contractual agreements between the National
Trust for Historic Preservation and the Iowa Department of Economic Development to assist in
the revitalization of the designated Main Street project area of Dubuque Iowa; and
WHEREAS, the City Council of Dubuque endorses the goal of economic revitalization of the
Downtown within the context of preservation and rehabilitation of its historic buildings and
supports the continuation of the Main Street Four Point Approach as developed by the National
Trust for Historic Preservation and espoused by Main Street Iowa.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Dubuque, Iowa, meeting in regular session on December 15, 2008, that the City of Dubuque
hereby agrees to support both financially and philosophically the work of Dubuque Main Street,
Ltd. and designates the Main Street Board to supervise the Program Director.
th
Passed, approved and adopted this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
nd
SRF Loan Agreement – West 32 Street Detention Basin: City Manager recommending
approval of the suggested proceedings to complete the action required on the issuance of
$2,000,000 Sewer Capital Loan Notes (State of Iowa Revolving Fund Loan). Upon motion the
documents were received and filed and Resolution No. 437-08 Relating to the issuance of
Sewer Revenue Bonds by the City of Dubuque under the provisions of Chapter 384 of the
Code of Iowa, authorizing and providing for the issuance and securing the payment of
$2,000,000 Sewer Revenue Capital Loan Notes, Series 2009A, and providing for a method of
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payment thereof and related matters, was adopted.
RESOLUTION 437-08
MASTER RESOLUTION RELATING TO THE ISSUANCE OF SEWER REVENUE BONDS
BY THE CITY OF DUBUQUE UNDER THE PROVISIONS OF CHAPTER 384 OF THE CODE
OF IOWA, AUTHORIZING AND PROVIDING FOR THE ISSUANCE AND SECURING THE
PAYMENT OF $2,000,000 SEWER REVENUE CAPITAL LOAN NOTES, SERIES 2009A,
AND PROVIDING FOR A METHOD OF PAYMENT THEREOF, AND RELATED MATTERS
WHEREAS, the City Council of the City of Dubuque, Iowa (the "City") has heretofore
established charges, rates and rentals for services which are and will continue to be collected
as system revenues of the Municipal Sewer Utility System; and
WHEREAS, the City of Dubuque proposes to issue the sewer revenue capital loan notes
hereinafter described to pay 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 West 32nd Street Detention Basin
Project; and
WHEREAS, the notice of intention of the Issuer to take action for the issuance of not to
exceed $2,458,000 Sewer Revenue Capital Loan Notes for the foregoing purposes has
heretofore been duly published and no objections to such proposed action have been filed;
and
WHEREAS, the Iowa Finance Authority has agreed to purchase said Notes, under the Iowa
Water Pollution Control Works Financing Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, AS FOLLOWS:
ARTICLE I
DEFINITIONS
Section 1.1. Definitions
. The following terms shall have the following meanings in this
Resolution unless the text expressly or by necessary implication requires otherwise:
"Agreement"
shall mean a Loan and Disbursement Agreement dated as of the
Closing between the City and the Original Purchaser relating to the Loan made to the
City under the SRF Program.
"Authorized Denominations"
shall mean $5,000 or any integral multiple thereof.
"Beneficial Owner"
shall mean the person in whose name such Bond is recorded as
the beneficial owner of a Bond by a Participant on the records of such Participant or
such person's subrogee.
“Bond Principal and Interest Fund”
means the fund by that name established in
Section 6.5 of this Resolution.
“Bond Register”
means the books maintained by the Registrar for the registration,
transfer and exchange of Bonds.
"Bondholder"
means the registered owner of one or more Bonds.
"Bonds"
means any sewer revenue bonds, notes or other obligations authorized by
and authenticated and delivered pursuant to this Resolution and any Series Resolution,
including the Series 2009A Bonds, any other Senior Bonds, and any Subordinate
Bonds.
“City Clerk”
means the individual presently serving as the City Clerk of the Issuer,
and any successor who may hereafter serve as such officer or be charged with
substantially the same duties and responsibilities.
"Code"
means the Internal Revenue Code of 1986, as amended, and the applicable
regulations of the Treasury Department proposed or promulgated thereunder.
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"Costs of Issuance"
means issuance costs with respect to any series of Bonds,
including but not limited to the following: underwriters' spread (whether realized directly
or derived through purchase of such Bonds at a discount below the price at which they
are expected to be sold to the public); Credit Facility fees; trustee’s fees; counsel fees
(including bond counsel, underwriter's counsel, and any other specialized counsel fees
incurred in connection with the borrowing); fees of any Financial Advisor to the Issuer
incurred in connection with the issuance of the Bonds; Rating Agency fees; escrow
agent and paying agent fees; accountant fees and other expenses related to issuance of
the Bonds; printing costs (for the Bonds and of the preliminary and final official
statement relating to the Bonds); and other fees and expenses of the Issuer incurred in
connection with the issuance of the Bonds.
"Credit Facility"
means any letter of credit, insurance policy, guaranty, surety bond,
standby bond purchase agreement, line of credit, revolving credit agreement, or similar
obligation, arrangement, or instrument issued by a bank, insurance company, or other
financial institution which is used by the Issuer to perform one or more of the following
tasks: (i) enhancing the Issuer's credit by assuring owners of any of the Bonds that
Principal of and interest on such Bonds will be paid promptly when due; (ii) providing
liquidity for the owners of Bonds through undertaking to cause Bonds to be bought from
the owners thereof when submitted pursuant to an arrangement prescribed by the
Series Resolution relating to such Bonds; or (iii) remarketing any Bonds so submitted to
the Issuer or Credit Facility Provider for purchase (whether or not the same Credit
Facility Provider is remarketing the Bonds).
"Credit Facility Agreement"
means an agreement between the Issuer and a Credit
Facility Provider pursuant to which the Credit Facility Provider issues a Credit Facility
and may include the promissory note or other instrument evidencing the Issuer's
obligations to a Credit Facility Provider pursuant to a Credit Facility Agreement.
"Credit Facility Provider"
means any issuer of a Credit Facility then in effect for all
or part of the Bonds. Whenever in a Series Resolution the consent of the Credit Facility
Provider is required, such consent shall only be required from the Credit Facility Provider
whose Credit Facility is issued with respect to the series of Bonds for which the consent
is required.
Debt Service Requirement"
shall mean the total Principal and interest coming due
on Senior Bonds, or all Bonds, as applicable, whether at maturity, on any Interest
Payment Date, or upon mandatory sinking fund redemption in any specified period;
provided, however, that the Debt Service Requirement with respect to any Bonds shall
mean the net amount of principal and interest coming due on such Bonds after taking
into account any so-called “subsidy” (i.e., the amount of anticipated investment earnings
which will accrue on any reserve account relating to the Bonds and which will reduce the
debt service payments of the Issuer with respect to such Bonds). In addition:
(a) With respect to any Bonds secured by a Credit Facility, Debt Service
Requirement shall include (i) any upfront or periodic commission or commitment
fee obligations with respect to such Credit Facility, (ii) the outstanding amount of
any Reimbursement Obligation owed to the applicable Credit Facility Provider
and interest thereon, and (iii) any remarketing agent fees.
(b) The Principal of and interest on Bonds shall be excluded from the
determination of Debt Service Requirement to the extent that (1) the same were
or are expected to be paid with amounts on deposit on the date of calculation (or
Bond proceeds to be deposited on the date of issuance of proposed Bonds) in
the Project Fund, the Debt Service Reserve Fund or a similar fund for
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Subordinate Bonds or (2) cash or non-callable Government Obligations are on
deposit in an irrevocable escrow or trust account in accordance with Section 9.1
hereof (or a similar escrow or trust account for Subordinate Bonds) and such
amounts (including, where appropriate, the earnings or other increment to accrue
thereon) are required to be applied to pay Principal or interest and are sufficient
to pay such Principal or interest.
“Debt Service Reserve Fund”
means the fund by that name established in Section
6.6 of this Resolution.
"Debt Service Reserve Requirement"
means the amount determined to be a
reasonable reserve for the payment of Principal of and interest on Senior Bonds (other
than Senior SRF Bonds), which amount shall be the least of (a) 10% of the stated
Principal amount of the Senior Bonds (other than Senior SRF Bonds), (b) the maximum
annual Principal and interest requirements on the Senior Bonds (other than Senior SRF
Bonds) (determined as of the issue date of each series of such Senior Bonds), or (c)
125% of the average annual Principal and interest requirements on the Senior Bonds
(other than Senior SRF Bonds) (determined as of the issue date of each series of such
Senior Bonds). If the aggregate initial offering price of a series of Bonds to the public is
less than 98% or more than 102% of par, such offering price shall be used in lieu of the
stated Principal amount. Notwithstanding the foregoing, the Debt Service Reserve
Requirement, if any, in connection with any Senior SRF Bonds or any Subordinate
Bonds shall be as provided in the Series Resolution authorizing the issuance of such
Senior SRF Bonds or such Subordinate Bonds.
"Depository Bonds"
shall mean the Bonds as issued in the form of one global
certificate for each maturity, registered in the Bond Register maintained by the Registrar
in the name of DTC or its nominee.
"DTC"
shall mean The Depository Trust Company, New York, New York, a limited
purpose trust company, or any successor book-entry securities depository appointed for
the Bonds.
“Financial Advisor”
means a financial advisory firm appointed by the Governing
Body for the purpose of assisting the Issuer with the structuring and offering of Bonds,
SRF Bonds, Subordinate Bonds or other obligations.
"Fiscal Year"
shall mean the twelve-month period beginning on July l of each year
and ending on the last day of June of the following year, or any other consecutive
twelve-month period adopted by the Governing Body or by law as the official accounting
period of the System. Requirements of a Fiscal Year as expressed in this Resolution
shall exclude any payment of principal or interest falling due on the first day of the Fiscal
Year and include any payment of principal or interest falling due on the first day of the
succeeding Fiscal Year.
"Governing Body"
shall mean the City Council of the Issuer, or its successor in
function with respect to the operation and control of the System.
"Government Obligations"
means (a) direct obligations of the United States of
America for the full and timely payment of which the full faith and credit of the United
States of America is pledged or (b) obligations issued by an agency controlled or
supervised by and acting as an instrumentality of the United States of America, the full
and timely payment of the principal of and the interest on which is fully and
unconditionally guaranteed as a full faith and credit obligation of the United States of
America (including any securities described in (a) or (b) issued or held in book-entry
form on the books of the Department of the Treasury of the United States of America),
which obligations, in either case, (i) are not subject to redemption or prepayment prior to
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maturity except at the option of the holder of such obligations and (ii) may include U.S.
Treasury Trust Receipts.
"Gross Revenues"
shall mean all rents, profits, fees, charges and income derived
directly from the operation of the System, including Investment Earnings.
"Independent Auditor"
shall mean an independent firm of certified public
accountants or the Auditor of the State of Iowa.
"Interest Payment Date"
means each date on which interest is to become due on
any Bonds, as established in the Series Resolution for such Bonds, and with respect to
the Series 2009A Bonds, shall be as specified in Section 2.2 hereof.
"Investment Earnings"
means all interest received on and profits derived from
investments of moneys in all funds and accounts of the Issuer established hereunder,
other than investments derived from or with respect to (i) all funds and accounts
established in connection with SRF Bonds and (ii) those funds or accounts established
within or as part of the Project Fund or the Rebate Fund.
"Issuer"
shall mean the City of Dubuque, Iowa.
"Loan"
shall mean the principal amount allocated by the Original Purchaser to the
City under the SRF Program in respect of the Series 2009A Project, equal in amount to
the principal amount of the Series 2009A Bonds.
"Maximum Annual Debt Service Requirement"
means the maximum amount of
Debt Service Requirements as computed for the then current or any future Fiscal Year.
"Net Revenues"
shall mean Gross Revenues of the System after provision for
payment of all Operation and Maintenance Expenses.
"Operation and Maintenance Expenses"
shall mean the reasonable necessary
current expenses paid or accrued in operating and maintaining the System as
determined in accordance with generally accepted accounting principles, including but
not limited to (a) costs, including a reserve for bad debts of collecting Gross Revenues
and making refunds; (b) engineering, audit reports, legal and administrative expenses;
(c) salaries, wages, benefits and other compensation; (d) costs of routine repairs,
replacements and renewals; (e) costs of utility services; (f) general administrative
overhead, marketing or advertising; (g) losses from the sale, abandonment,
reclassification or other disposition of any property of the System; (h) material and
supplies used in the ordinary course of business; (i) contractual and professional
services; (j) costs of insurance and fidelity bonds; (k) costs of carrying out provisions of
the Resolution; (l) expenditures which do not exceed the standards for capitalization
under the Issuer's accounting basis; and (m) all other routine costs and expenses. The
term "Operation and Maintenance Expense" shall not include any allowance for
depreciation or amortization, any debt service or the costs associated with early
extinguishment of debt, nor any other accounting charges which are not payable from
Gross Revenues.
“Operation and Maintenance Fund”
means the fund by that name established in
Section 6.4 of this Resolution.
"Original Purchaser"
shall mean the Iowa Finance Authority, as purchaser of the
Series 2009A Bonds from the Issuer at the time of their original issuance.
"Outstanding"
shall mean, as of a particular date, all such Bonds theretofore and
thereupon delivered except: (a) any such Bond cancelled by or on behalf of the Issuer
on or before said date; (b) any such Bond defeased pursuant to Section 9.1 of this
Resolution or of the Series Resolution authorizing its issuance, or otherwise defeased as
permitted by applicable law; and (c) any such Bond in lieu of or in substitution for which
another bond shall have been delivered pursuant to the Series Resolution authorizing
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the issuance of such Bond.
"Outstanding Interim Loan"
shall mean the $253,850 Sewer Revenue Capital Loan
Note Anticipation Project Note, Series 2006, dated December 28, 2006. The
Outstanding Interim Loan shall be deemed to be a Subordinate SRF Bond under this
Resolution.
"Participants"
shall mean those broker-dealers, banks and other financial institutions
for which DTC holds Bonds as securities depository.
"Paying Agent"
shall mean Wells Fargo Bank, National Association, or such
successor as may be approved by the Issuer as provided herein and who shall carry out
the duties prescribed herein as the Issuer's agent to provide for the payment of principal
of and interest on the Bonds as the same shall become due.
"Permitted Investments"
shall mean those obligations in which the Issuer is
permitted to invest moneys of the Issuer under applicable law and the Issuer’s then-
prevailing Investment Policy, as amended from time to time.
"Principal"
means the principal amount of such Bond.
"Principal Maturity Date"
means each date on which Principal is to become due on
any Bonds, by maturity or mandatory sinking fund redemption, as established in the
Series Resolution for such Bonds.
"Project"
shall mean the acquisition, construction, reconstruction, extension,
improvement, repairing and equipping of any part of the System, in whole or in part with
the proceeds of a series of Bonds.
"Project Costs"
with respect to any Project shall mean costs including the following:
(a) obligations of the Issuer for labor and materials in connection with the
construction, installation and equipping of the Project;
(b) the cost of contract bonds and insurance of all kinds that may be required
or necessary during the construction of the Project;
(c) all costs of architectural and engineering services, including the costs of the
Issuer for test borings, surveys, estimates, plans and specifications and
preliminary investigation therefore, and for supervising construction, as well as for
the performance of all other duties required by or consequent upon the proper
construction of the Project;
(d) all expenses incurred in connection with the issuance of Bonds, including
without limitation compensation and expenses of any trustee, Registrar and
Paying Agents, expenses of the Issuer, legal and accounting expenses and fees,
costs of printing and engraving, recording and filing fees, compensation of
underwriters, Rating Agency fees, costs of financial services, and accrued
interest on the Bonds;
(e) all sums required to reimburse the Issuer for advances made by it for any of
the above items or for any other costs incurred and for work done, whether before
or after the adoption of the Series Resolution, which are properly chargeable to
the Project; and
(f) all other components of cost of labor, materials, machinery, and equipment
and financing charges attributable to the Project to the extent permitted by law.
"Project Fund"
shall mean the fund by that name established in Section 5.1 of this
Resolution.
"Rating"
means a rating in one of the categories by a Rating Agency, disregarding
pluses, minuses, and numerical gradations.
"Rating Agencies""Rating Agency"
or means Fitch, Inc., Moody's Investors
Service, Inc., and Standard & Poor's, a division of The McGraw-Hill Companies, Inc., or
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any successors thereto and any other nationally recognized credit rating agency then
maintaining a rating on any Bonds at the request of the Issuer. If at any time a particular
Rating Agency does not have a rating outstanding with respect to the relevant Bonds,
then a reference to Rating Agency or Rating Agencies shall not include such Rating
Agency.
"Rebate Fund"
means the fund by that name established in Section 6.10 of this
Resolution.
"Registrar"
shall mean Wells Fargo Bank, National Association, or such successor
as may be approved by the Issuer as provided herein and who shall carry out the duties
prescribed herein with respect to maintaining a register of the owners of the Bonds.
Unless otherwise specified, the Registrar shall also act as Transfer Agent for the Bonds.
“Reimbursement Obligation”
means the obligation of the Issuer to directly
reimburse any Credit Facility Provider for amounts paid by such Credit Facility Provider
under a Credit Facility, whether or not such obligation to so reimburse is evidenced by a
promissory note or other similar instrument.
"Representation Letter"
shall mean the Blanket Issuer Letter of Representations
executed by the Issuer and previously delivered to DTC.
"Resolution"
shall mean this Master Resolution of the Governing Body, as it may
from time to time be modified, supplemented or amended by Supplemental Resolutions.
"Revenue Fund"
means the fund by that name established in Section 6.2 of this
Resolution for the deposit of all Gross Revenues.
"Senior Bonds"
means the Series 2009A Bonds and any other Bonds, including
other Senior SRF Bonds, issued with a right to payment and secured by a lien on the
Net Revenues on a parity with the Series 2009A Bonds pursuant to Section 8.3 (except
with respect to any Credit Facility which may be available only to one or more series of
Senior Bonds and except that Senior SRF Bonds shall not be secured by the Debt
Service Reserve Fund).
"Senior SRF Bonds"
means the Series 2009A Bonds and any other SRF Bonds
which are issued as Senior Bonds (except with respect to any Credit Facility which may
be available only to one or more series of Senior Bonds and except that Senior SRF
Bonds shall not be secured by the Debt Service Reserve Fund).
"Series 2009A Bonds"
shall mean the $2,000,000 Sewer Revenue Capital Loan
Notes, Series 2009A, dated the date of delivery, authorized to be issued pursuant to this
Resolution.
"Series 2009A Costs of Issuance Account"
means the account by that name within
the Project Fund established in Section 5.1 of this Resolution.
"Series 2009A Project"
means the 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 West 32nd
Street Detention Basin Project being funded with the proceeds of the Series 2009A
Bonds.
"Series Resolution"
means a resolution or resolutions of the Governing Body (which
may be supplemented by one or more resolutions) to be adopted prior to and authorizing
the issuance and delivery of any series of Bonds. This Resolution shall constitute the
Series Resolution for the Series 2009A Bonds. Such a Series Resolution as
supplemented shall establish the date or dates of the pertinent series of Bonds, the
schedule of maturities of such Bonds, the name of the purchaser(s) of such series of
Bonds, the purchase price thereof, the rate or rates of interest to be borne thereby,
whether fixed or variable, the interest payment dates for such Bonds, the terms and
17
conditions, if any, under which such Bonds may be made subject to redemption
(mandatory or optional) prior to maturity, the form of such Bonds, and such other details
as the Issuer may determine.
“Sinking Fund”
shall mean the Bond Principal and Interest Fund established in
Section 6.5 of this Resolution.
“SRF Bonds”
shall mean such bonds, notes or other obligations as may be issued in
connection with the Issuer’s participation in the SRF Program, which SRF Bonds may be
Senior SRF Bonds or Subordinate SRF Bonds.
"SRF Program"
shall mean the Iowa Water Pollution Control Works Financing
Program administered by the Iowa Finance Authority and Iowa Department of Natural
Resources.
"State"
shall mean the State of Iowa.
"Subordinate Bond Fund"
means the fund by that name established in Section 6.7
of this Resolution.
"Subordinate Bonds"
means Bonds, including Subordinate SRF Bonds, issued with
a right to payment from the Net Revenues and secured by a lien on the Net Revenues
expressly junior and subordinate to the Senior Bonds.
"Subordinate SRF Bonds"
means the Outstanding Interim Loan and any other SRF
Bonds which are issued as Subordinate Bonds.
“Supplemental Resolution”
means any Series Resolution and any modification,
amendment or supplement to this Resolution (other than a Series Resolution).
“Surplus Fund”
means the fund by that name established in Section 6.8 of this
Resolution.
"System"
shall mean the municipal sewer system utility of the Issuer and all
properties of every nature hereinafter owned by the Issuer comprising part of or used as
a part of the System, including all wastewater treatment facilities, sanitary sewers, force
mains, pumping stations and all related property and improvements and extensions
made by Issuer while any of the Bonds remain outstanding; all real and personal
property; and all appurtenances, contracts, leases, franchises and other intangibles.
"Tax Exemption Certificate"
shall mean the Tax Exemption Certificate executed by
the Treasurer and delivered at the time of issuance and delivery of the Series 2009A
Bonds.
"Treasurer"
shall mean the City Treasurer or such other officer of the Issuer as shall
succeed to the same duties and responsibilities with respect to the recording and
payment of the Bonds issued hereunder.
"Trustee"
shall mean Wells Fargo Bank, National Association, with its principal office
located in the City of Des Moines, Iowa, and its successors and any corporation
resulting from or surviving any consolidation or merger to which it or its successors may
be a party and any successor trustee under the Program.
"U.S. Treasury Trust Receipts"
means receipts or certificates which evidence an
undivided ownership interest in the right to the payment of portions of the principal of or
interest on obligations described in clauses (a) or (b) of the term Government
Obligations, provided that such obligations are held by a bank or trust company
organized under the laws of the United States acting as custodian of such obligations, in
a special account separate from the general assets of such custodian.
ARTICLE II
THE BONDS
Section 2.1. Authority
. The Bonds authorized by this Resolution shall be issued pursuant
to Chapter 384 of the Code of Iowa, and in compliance with all applicable provisions of the
18
Constitution and laws of the State of Iowa. The Bonds may be issued and sold from time to
time in one or more series, may be designated "Sewer Revenue Bonds" or "Sewer Revenue
Capital Loan Notes," and shall be in substantially the form set forth in the related Series
Resolution, but such variations, omissions, substitutions, and insertions may be made therein,
and such particular series designation, legends, or text may be endorsed thereon, as may be
necessary or appropriate to conform to and as required or permitted by this Resolution and
any Series Resolution or as may be necessary or appropriate to comply with applicable
requirements of the Code.
The Series 2009A Bonds authorized pursuant to Section 2.2 shall constitute the initial series
of Bonds issued and delivered under, and secured by, this Resolution. As set forth in Section
8.8(b) hereof, the Outstanding Interim Loan shall be deemed to be a Subordinate SRF Bond
under the terms hereof. Additional Senior Bonds may be issued from time to time as provided
in, and subject to the limitations set forth in Section 8.3. Subordinate Bonds may be issued
from time to time as provided in, and subject to the limitations set forth in, Section 8.4.
Unless otherwise provided in a Series Resolution, each authenticated Bond shall bear
interest from its dated date. Each Bond shall bear interest on overdue Principal at the rate
borne by such Bond until the Principal balance thereof is paid in full.
Unless otherwise provided in a Series Resolution, the Bonds shall be issued in fully
registered form in Authorized Denominations and shall be dated as provided in the pertinent
Series Resolution.
The Principal of, premium, if any, and interest on the Bonds shall be payable in any coin or
currency of the United States of America which, at the respective dates of payment thereof, is
legal tender for the payment of public and private debts.
The Bonds and the Registrar's Certificate of Authentication shall be in substantially the form
set forth in the Series Resolution pursuant to which such series of Bonds are issued.
Section 2.2. Series 2009A Bonds - Authorization and Purpose
. Pursuant to Sections
384.24A and 384.82 of the Code of Iowa, there are hereby authorized to be issued, negotiable,
serial, fully registered $2,000,000 Sewer Revenue Capital Loan Notes, Series 2009A, for the
purpose of paying 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 West 32nd Street Detention Basin Project, and
paying related Costs of Issuance. The Agreement is authorized to be executed and issued on
behalf of the City by the Mayor and attested by the City Clerk.
The Series 2009A Bonds shall be issued to evidence the obligations of the City under the
Agreement pursuant to the provisions of Sections 384.24A and 384.82 of the City Code of
Iowa for the aforesaid purpose. The Senior 2009A Bonds shall be designated “CITY OF
DUBUQUE, IOWA, SEWER REVENUE CAPITAL LOAN NOTES, SERIES 2009A", be dated
the date of delivery, and bear interest at the rate of 3.00% per annum from the date of each
advancement made under the Agreement, until payment thereof, at the office of the Paying
Agent, said interest payable on June 1, 2009, and semi-annually thereafter on the 1st day of
June and December in each year until maturity as set forth on the debt service schedule
attached to the Agreement as Exhibit B and incorporated herein by this reference. As set forth
on said debt service schedule, principal shall be payable on June 1, 2009 and annually
thereafter on the 1st day of June in the amounts set forth therein until principal and interest are
fully paid, except that the final installment of the entire balance of principal and interest, if not
sooner paid, shall become due and payable on June 1, 2028. Notwithstanding the foregoing or
any other provision hereof, principal and interest shall be payable as shown on said debt
service schedule until completion of the Series 2009A Project, at which time the final debt
service schedule shall be determined by the Trustee based upon actual advancements, final
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costs and completion of the Series 2009A Project, all as provided in the administrative rules
governing the SRF Program. Payment of principal and interest on the Series 2009A Bonds
shall at all times conform to said debt service schedule and the rules of the SRF Program.
The Series 2009A Bonds and the Registrar’s Certificate of Authentication shall be in
substantially the form set forth in Exhibit A attached hereto, with such variations, omissions,
substitutions and insertions as are required or permitted by this Resolution.
The Series 2009A Bonds shall be executed by the manual or facsimile signature of the
Mayor and attested by the manual or facsimile signature of the City Clerk, and shall be fully
registered as to both principal and interest as provided in this Resolution; principal, interest
and premium, if any shall be payable at the office of the Paying Agent by mailing of a check,
wire transfer or automated clearing house system transfer to the registered owner of the Bond.
The Series 2009A Bonds shall be in the denomination of $1,000 or multiples thereof and may
at the request of the Original Purchaser be initially issued as a single Note in the denomination
of $2,000,000 and numbered R-1.
In addition to the payment of principal of and interest on the Series 2009A Bonds, the Issuer
also agrees to pay the Initiation Fee and the Servicing Fee as defined and in accordance with
the terms of the Agreement.
Section 2.3. Issuance of Bonds in Book-Entry Form; Replacement Bonds
.
(a) Notwithstanding the other provisions of this Resolution regarding registration, ownership,
transfer, payment and exchange of the Bonds, unless the Issuer determines in a Series
Resolution to permit the exchange of Depository Bonds for Bonds in the Authorized
Denominations, the Bonds shall be issued as Depository Bonds in denominations of the entire
principal amount of each maturity of Bonds (or, if a portion of said principal amount is prepaid,
said principal amount less the prepaid amount); and such Depository Bonds shall be registered
in the name of Cede & Co., as nominee of DTC. Payment of semi-annual interest for any
Depository Bond shall be made by wire transfer or New York Clearing House or equivalent
next day funds to the account of Cede & Co. on the interest payment date for the Bonds at the
address indicated in or pursuant to the Representation Letter.
(b) With respect to Depository Bonds, neither the Issuer nor the Paying Agent shall have
any responsibility or obligation to any Participant or to any Beneficial Owner. Without limiting
the immediately preceding sentence, neither the Issuer nor the Paying Agent shall have any
responsibility or obligation with respect to (i) the accuracy of the records of DTC or its nominee
or of any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any
Participant, any Beneficial Owner or any other person, other than DTC or its nominee, of any
notice with respect to the Bonds, (iii) the payment to any Participant, any Beneficial Owner or
any other person, other than DTC or its nominee, of any amount with respect to the principal
of, premium, if any, or interest on the Bonds, or (iv) the failure of DTC to provide any
information or notification on behalf of any Participant or Beneficial Owner.
The Issuer and the Paying Agent may treat DTC or its nominee as, and deem DTC or its
nominee to be, the absolute owner of each Bond for the purpose of payment of the principal of,
premium, if any, and interest on such Bond, for the purpose of all other matters with respect to
such Bond, for the purpose of registering transfers with respect to such Bonds, and for all other
purposes whatsoever (except for the giving of certain Bondholder consents, in accordance with
the practices and procedures of DTC as may be applicable thereto). The Paying Agent shall
pay all principal of, premium, if any, and interest on the Bonds only to or upon the order of the
Bondholders as shown on the Bond Register, and all such payments shall be valid and
effective to fully satisfy and discharge the Issuer's obligations with respect to the principal of,
premium, if any, and interest on the Bonds to the extent so paid. Notwithstanding the
provisions of this Resolution to the contrary (including without limitation those provisions
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relating to the surrender of Bonds, registration thereof, and issuance in Authorized
Denominations), as long as the Bonds are Depository Bonds, full effect shall be given to the
Representation Letter and the procedures and practices of DTC thereunder, and the Paying
Agent shall comply therewith.
(c) Upon (i) a determination by the Issuer that DTC is no longer able to carry out its
functions or is otherwise determined unsatisfactory, or (ii) a determination by DTC that the
Bonds are no longer eligible for its depository services or (iii) a determination by the Paying
Agent that DTC has resigned or discontinued its services for the Bonds, if such substitution is
authorized by law, the Issuer shall (A) designate a satisfactory substitute depository as set
forth below or, if a satisfactory substitute is not found, (B) provide for the exchange of
Depository Bonds for replacement Bonds in Authorized Denominations.
(d) To the extent authorized by law, if the Issuer determines to provide for the exchange of
Depository Bonds for Bonds in Authorized Denominations, the Issuer shall so notify the Paying
Agent and shall provide the Registrar with a supply of executed unauthenticated Bonds to be
so exchanged. The Registrar shall thereupon notify the owners of the Bonds and provide for
such exchange, and to the extent that the Beneficial Owners are designated as the transferee
by the owners, the Bonds will be delivered in appropriate form, content and Authorized
Denominations to the Beneficial Owners, as their interests appear.
(e) Any substitute depository shall be designated in writing by the Issuer to the Paying
Agent. Any such substitute depository shall be a qualified and registered "clearing agency" as
provided in Section 17A of the Securities Exchange Act of 1934, as amended. The substitute
depository shall provide for (i) immobilization of the Depository Bonds, (ii) registration and
transfer of interests in Depository Bonds by book entries made on records of the depository or
its nominee and (iii) payment of principal of, premium, if any, and interest on the Bonds in
accordance with and as such interests may appear with respect to such book entries.
Section 2.4. Registration of Bonds; Appointment of Registrar; Transfer; Ownership;
and Cancellation
.
(a) Registration. The ownership of Bonds may be transferred only by the making of an entry
upon the books kept for the registration and transfer of ownership of the Bonds, and in no
other way. The Treasurer is hereby appointed as Bond Registrar for the Series 2009A Bonds
under the terms of this Resolution. Registrar shall maintain the books of the Issuer for the
registration of ownership of the Bonds for the payment of principal of and interest on the Bonds
as provided in this Resolution or the applicable Series Resolution. All Bonds shall be
negotiable as provided in Article 8 of the Uniform Commercial Code, subject to the provisions
for registration and transfer contained in the Bonds and in this Resolution or the applicable
Series Resolution.
(b) Transfer. The ownership of any Bond may be transferred only upon the Bond Register
kept for the registration and transfer of Bonds and only upon surrender thereof at the office of
the Registrar together with an assignment duly executed by the holder or his duly authorized
attorney in fact in such form as shall be satisfactory to the Registrar, along with the address
and social security number or federal employer identification number of such transferee (or, if
registration is to be made in the name of multiple individuals, of all such transferees). In the
event that the address of the registered owner of a Bond (other than a registered owner which
is the nominee of the broker or dealer in question) is that of a broker or dealer, there must be
disclosed on the Bond Register the information pertaining to the registered owner required
above. Upon the transfer of any such Bond, a new fully registered Bond, of any denomination
or denominations permitted by this Resolution or the applicable Series Resolution in aggregate
principal amount equal to the unmatured and unredeemed principal amount of such transferred
fully registered Bond, and bearing interest at the same rate and maturing on the same date or
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dates shall be delivered by the Registrar.
(c) Registration of Transferred Bonds. In all cases of the transfer of the Bonds, the Registrar
shall register the Bonds, at the earliest practicable time, on the Bond Register in accordance
with the provisions of this Resolution or the applicable Series Resolution.
(d) Ownership. As to any Bond, the person in whose name the ownership of the same shall
be registered on the Bond Register of the Registrar shall be deemed and regarded as the
absolute owner thereof for all purposes, and payment of or on account of the principal of any
such Bonds and the premium, if any, and interest thereon shall be made only to or upon the
order of the registered owner thereof or his legal representative. All such payments shall be
valid and effectual to satisfy and discharge the liability upon such Bond, including the interest
thereon, to the extent of the sum or sums so paid.
(e) Cancellation. All Bonds which have been redeemed shall not be reissued but shall be
cancelled by the Registrar. All Bonds which are cancelled by the Registrar shall be destroyed
and a certificate of the destruction thereof shall be furnished promptly to the Issuer; provided
that if the Issuer shall so direct, the Registrar shall forward the cancelled Bonds to the Issuer.
(f) Non-Presentment of Bonds. In the event any payment check representing payment of
principal of or interest on the Bonds is returned to the Paying Agent or is not presented for
payment of principal at the maturity or redemption date, if funds sufficient to pay such principal
of or interest on Bonds shall have been made available to the Paying Agent for the benefit of
the owner thereof, all liability of the Issuer to the owner thereof for such interest or payment of
such Bonds shall forthwith cease, terminate and be completely discharged, and thereupon it
shall be the duty of the Paying Agent to hold such funds, without liability for interest thereon,
for the benefit of the owner of such Bonds who shall thereafter be restricted exclusively to such
funds for any claim of whatever nature on his part under this Resolution or the applicable
Series Resolution or on, or with respect to, such interest or Bonds. The Paying Agent's
obligation to hold such funds shall continue for a period equal to two years and six months
following the date on which such interest or principal became due, whether at maturity, or at
the date fixed for redemption thereof, or otherwise, at which time the Paying Agent, shall
surrender any remaining funds so held to the Issuer, whereupon any claim under this
Resolution or the applicable Series Resolution by the owners of such interest or Bonds of
whatever nature shall be made upon the Issuer.
Section 2.5. Reissuance of Mutilated, Destroyed, Stolen or Lost Bonds
. In case any
outstanding Bond shall become mutilated or be destroyed, stolen or lost, the Issuer shall at the
request of Registrar authenticate and deliver a new Bond of like tenor and amount as the Bond
so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond to
Registrar, upon surrender of such mutilated Bond, or in lieu of and substitution for the Bond
destroyed, stolen or lost, upon filing with the Registrar evidence satisfactory to the Registrar
and Issuer that such Bond has been destroyed, stolen or lost and proof of ownership thereof,
and upon furnishing the Registrar and Issuer with satisfactory indemnity and complying with
such other reasonable regulations as the Issuer or its agent may prescribe and paying such
expenses as the Issuer may incur in connection therewith.
Section 2.6. Record Date.
Payments of principal and interest, otherwise than upon full
redemption, made in respect of any Bond, shall be made to the registered holder thereof or to
their designated agent as the same appear on the books of the Registrar on the 15th day
preceding the payment date. All such payments shall fully discharge the obligations of the
Issuer in respect of such Bonds to the extent of the payments so made. Payment of principal
shall only be made upon surrender of the Bond to the Paying Agent.
Section 2.7. Execution, Authentication and Delivery of the Series 2009A Bonds
. Upon
the adoption of this Resolution, the Mayor and City Clerk shall execute and deliver the Series
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2009A Bonds to the Registrar, who shall authenticate the same and deliver the same to or
upon order of the Original Purchaser. No such Bond shall be valid or obligatory for any
purpose or shall be entitled to any right or benefit hereunder unless the Registrar shall duly
endorse and execute on such Bond a Certificate of Authentication substantially in the form of
the Certificate herein set forth. Such Certificate upon any such Bond executed on behalf of the
Issuer shall be conclusive evidence that the Bond so authenticated has been duly issued
under this Resolution and that the holder thereof is entitled to the benefits of this Resolution.
Section 2.8. Right to Name Substitute Paying Agent or Registrar
. Issuer reserves the
right to name a substitute, successor Registrar or Paying Agent for any Bonds upon giving
prompt written notice to each registered Bondholder.
ARTICLE III
REDEMPTION OF BONDS
Section 3.1. Optional and Mandatory Redemption
.
(a) Redemption Generally. The Bonds shall be subject to optional and mandatory
redemption as provided in the Series Resolution pursuant to which such series of Bonds are
issued.
(b) Optional Redemption of Series 2009A Bonds. The Series 2009A Bonds are subject to
optional redemption at a price of par plus accrued interest (i) on any date upon receipt of
written consent of the Original Purchaser or (ii) in the event that all or substantially all of the
Series 2009A Project is damaged or destroyed. Any optional redemption of the Series 2009A
Bonds may be made from any funds regardless of source, in whole or from time to time in part,
in inverse order of maturity, by giving not less than thirty (30) days notice of redemption by
certified or registered mail to the Original Purchaser (or any other registered owner of the
Series 2009A Bonds). The terms of redemption shall be par, plus accrued interest to date of
call. The Series 2009A Bonds are also subject to mandatory redemption as set forth in Section
5 of the Agreement.
Section 3.2. Notice of Redemption
. Unless waived by any registered owner of Bonds to
be redeemed and except as may be otherwise provided in a Series Resolution, official notice
of any such redemption shall be given by the Registrar of the Bonds to be redeemed on behalf
of the Issuer by mailing a copy of an official redemption notice by first class mail, at least 30
days prior to the date fixed for redemption to the registered owner of the Bond or Bonds to be
redeemed at the address shown on the Bond Register or at such other address as is furnished
in writing by such registered owner to the Registrar.
All official notices of redemption shall be dated, shall contain the complete official name of
the Bond issue, and shall state:
(1) the redemption date;
(2) the redemption price;
(3) the interest rate, maturity date and CUSIP numbers of the Bonds being redeemed;
(4) if less than all the Outstanding Bonds are to be redeemed, the Bond numbers, and,
where part of the Bonds evidenced by one Bond certificate are being redeemed, the respective
Principal amounts of such Bonds to be redeemed;
(5) that on the redemption date the redemption price will become due and payable upon
each such Bond or portion thereof called for redemption and that interest thereon shall cease
to accrue from and after such date; and
(6) the place where such Bonds are to be surrendered for payment of the redemption price
(which place of payment shall be the principal payment office of the Paying Agent or at such
other office designated by the Paying Agent for such purpose) and the name, address, and
telephone number of a person or persons at the Paying Agent who may be contacted with
respect to the redemption.
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Any notice of an optional redemption of any Bonds (pursuant to Section 3.1(b) of this
resolution or any other Series Resolution) may specify that the redemption is contingent upon
the deposit of moneys with the Paying Agent in an amount sufficient to pay the redemption
price (which price shall include the redemption premium, if any) of all the Bonds or portions of
Bonds which are to be redeemed on that date.
Prior to any redemption date, the Issuer shall deposit with the Paying Agent an amount of
money sufficient to pay the redemption price of all the Bonds or portions of Bonds which are to
be redeemed on that date.
For so long as DTC is effecting book–entry transfers of the Bonds, the Registrar shall
provide the notices specified in this Section to DTC. It is expected that DTC shall, in turn, notify
its Participants and that the Participants, in turn, will notify or cause to be notified the Beneficial
Owners. Any failure on the part of DTC or a Participant, or failure on the part of a nominee of a
Beneficial Owner of a Bond (having been mailed notice from the Registrar, a Participant or
otherwise) to notify the Beneficial Owner of the Bond so affected, shall not affect the validity of
the redemption of such Bond.
Any defect in any notice of redemption shall not affect the validity of proceedings for
redemption of the Bonds.
Section 3.3. Effect of Notice of Redemption
. Official notice of redemption having been
given in the manner and under the conditions provided in this Article and moneys for payment
of the redemption price being held by the Paying Agent as provided in the Series Resolution,
the Bonds or portions of Bonds called for redemption shall, on the redemption date designated
in such notice, become and be due and payable at the redemption price provided for
redemption of such Bonds or portions of Bonds on such date, and from and after such date
interest on the Bonds or portions of Bonds called for redemption shall cease to accrue, such
Bonds or portions of Bonds shall cease to be entitled to any lien, benefit, or security under the
Series Resolution, and the owners of such Bonds or portions of Bonds shall have no rights in
respect thereof except to receive payment of the redemption price thereof. Upon surrender for
partial redemption of any Bond, there shall be prepared for and delivered to the registered
owner a new Bond or Bonds of the same series, maturity, and interest rate in the amount of
the unpaid Principal.
Section 3.4. Redemption Among Series
. Subject to the redemption provisions of any
Series Resolution, the Issuer in its discretion may redeem the Bonds of any series, or a portion
of the Bonds of any such series, before it redeems the Bonds of any other series. Within any
particular series, any redemption of Bonds shall be effected in the manner provided in this
Resolution and in any Series Resolution.
Section 3.5. Selection of Bonds to be Redeemed
. If less than all of the Bonds of like
maturity of any series shall be called for redemption, the particular Bonds, or portions of
Bonds, to be redeemed shall be selected by the Paying Agent in such equitable manner as the
Paying Agent may determine. The portion of any Bond of a denomination of more than $5,000
to be redeemed shall be in the Principal amount of $5,000 or an integral multiple thereof, and,
in selecting portions of such Bonds for redemption, the Issuer shall treat each such Bond as
representing that number of Bonds which is obtained by dividing the Principal of such Bond to
be redeemed in part by $5,000.
Section 3.6. Purchase in Open Market
. Nothing herein contained shall be construed to
limit the right of the Issuer to purchase with any excess moneys in the Sinking Fund (i.e.,
moneys not needed in the then current Fiscal Year to pay Principal of and interest on any
Senior Bonds) and for Sinking Fund purposes, any Senior Bonds in the open market. Any such
Senior Bonds so purchased shall not be reissued and shall be cancelled.
ARTICLE IV
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APPLICATION OF PROCEEDS
Section 4.1. Application of Series 2009A Bond Proceeds
. The proceeds of the Series
2009A Bonds shall be applied as follows:
(i) An amount sufficient to pay Costs of Issuance of the Series 2009A Bonds shall be
deposited into the Series 2009A Costs of Issuance Account.
(ii) The balance of the proceeds shall be deposited in the Series 2009A Account of the
Project Fund and applied to pay Project Costs of the Series 2009A Project.
ARTICLE V
PROJECT FUND
Section 5.1. Project Fund
. There is hereby established a Project Fund and within the
Project Fund, there shall be established a separate account for each Project and a separate
Costs of Issuance Account for each series of Bonds issued under a Series Resolution;
provided, however, that in the case of the Series 2009A Bonds and any other SRF Bonds, the
Project Fund shall mean the Loan Account maintained by the Trustee under the SRF Program
for the benefit of the City, into which the proceeds of the Loan and the Series 2009A Bonds
shall be allocated and held until disbursed to pay Project Costs of the Series 2009A Bonds.
Except as may be otherwise provided herein or in the Series Resolution authorizing the
issuance of SRF Bonds, moneys in the Project Fund shall be held as may from time to time be
designated by the Issuer, and applied to the payment of the Project Costs, or for the
repayment of advances made for that purpose in accordance with and subject to the provisions
and restrictions set forth in this Article. The Issuer covenants that it will not cause or permit to
be paid from the Project Fund any sums except in accordance with such provisions and
restrictions; provided, however, that any moneys in the Project Fund not presently needed for
the payment of current obligations during the course of construction may be invested in
Permitted Investments maturing not later than (i) the date upon which such moneys will be
needed or (ii) 36 months from the date of purchase, in either case upon direction of the
Treasurer. Any such investments shall be held in trust for the account of the Project Fund until
maturity or until sold, and at maturity or upon such sale the proceeds received therefrom
including accrued interest and premium, if any, shall be immediately deposited in the Project
Fund and shall be disposed of in the manner and for the purposes provided in the Resolution.
At such time as all Costs of Issuance have been paid, and in any case not later than 6 months
after the date of issuance of the applicable series of Bonds, any money in a Costs of Issuance
Account shall be transferred to the applicable account of the Project Fund.
Section 5.2. Funds Remaining on Completion of Projects
. For each series of Bonds, the
Issuer shall, when a Project has been completed, and may, when a Project has been
substantially completed, estimate what portion of the funds remaining in the separate account
relating to such Project will be required by the Issuer for the payment or reimbursement of the
Project Costs of such Project, and thereafter such funds that will not be used shall be, at the
direction of the Governing Body, either (1) applied to pay the costs of other Projects, (2)
transferred to the Sinking Fund and used to redeem Bonds of the related series on the next
redemption date or to pay Principal of such Bonds on the next Principal Maturity Date, or (3)
transferred to the Sinking Fund and used to pay interest on Bonds of the related series,
provided that the Issuer shall first obtain an opinion of bond counsel to the effect that, under
existing law, the application of such moneys to pay interest on such Bonds (a) is allowed under
State law, and (b) if such Bonds are tax-exempt Bonds, will not, by itself and without more,
adversely affect the exclusion from gross income for federal income tax purposes of interest
payable on such Bonds. When all moneys have been withdrawn or transferred from any
separate account within the Project Fund in accordance with the provisions of this Section,
such separate account shall terminate and cease to exist.
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ARTICLE VI
PLEDGE OF NET REVENUES AND FLOW OF FUNDS
Section 6.1. Pledge of Revenues; Limited Obligations
. Subject only to the rights of the
Issuer to apply amounts as provided in this Article VI, all Net Revenues shall be and are
hereby pledged to the prompt payment of the Principal of, premium, if any, and interest on the
Bonds; provided, however, that the pledge of the Net Revenues to any Subordinate Bonds
shall be junior and subordinate in lien and right of payment to all Senior Bonds Outstanding at
any time. Such moneys and securities shall immediately be subject to the lien of this pledge for
the benefit of the Bondholders without any physical delivery thereof or further act, and the lien
of this pledge shall be valid and binding against the Issuer and against all other persons having
claims against the Issuer, whether such claims shall have arisen in tort, contract, or otherwise,
and regardless of whether such persons have notice of the lien of this pledge. This pledge
shall rank superior to all other pledges which may hereafter be made of any of the Net
Revenues. The lien of the pledge made in this Section does not secure any obligation of the
Issuer other than the Bonds.
The Bonds shall be limited obligations of the Issuer as provided therein payable solely from
the Net Revenues. The Bonds and the interest thereon shall not constitute a general or moral
obligation of the Issuer nor a debt, indebtedness, or obligation of the Issuer or the State or any
political subdivision thereof within the meaning of any constitutional, statutory or charter
provision whatsoever. No taxing power of the Issuer is pledged to the payment of the Principal
of, premium, if any, or interest on the Bonds or other costs incident thereto. Neither the
members of the Governing Body nor any person executing the Bonds shall be liable personally
on the Bonds by reason of the issuance thereof.
Section 6.2. Special Funds
. The following special funds shall be established, maintained
and accounted for as hereinafter provided so long as any of the Bonds remain Outstanding:
(a) Revenue Fund;
(b) Operation and Maintenance Fund;
(c) Bond Principal and Interest Fund;
(d) Debt Service Reserve Fund;
(e) Subordinate Bond Fund (while Subordinate Bonds are Outstanding);
(f) Surplus Fund; and
(g) Rebate Fund.
The Issuer shall have the right to create special accounts, from time to time, in each of the
foregoing Funds as the Governing Body determines to be desirable.
Section 6.3. Flow of Funds
. All Gross Revenues shall be deposited as received into the
Revenue Fund. Moneys from time to time credited to the Revenue Fund shall be applied to the
funds hereby established in the following order of priority:
(a) First, to transfer to the Operation and Maintenance Fund sufficient amounts
required for the payment of all current Operation and Maintenance Expenses, as
provided in Section 6.4 of this Resolution.
(b) Second, to transfer all amounts to the Bond Principal and Interest Fund as required
by Section 6.5 of this Resolution.
(c) Third, to transfer all amounts to the Debt Service Reserve Fund as required by
Section 6.6 of this Resolution.
(d) Fourth, to transfer all amounts to the Rebate Fund as required by Section 6.10 of
this Resolution.
(e) Fifth, to transfer all amounts to the Subordinate Bond Fund as required by Section
6.7 of this Resolution.
(f) Sixth, to make deposits to the Surplus Fund as required in Section 6.8 of this
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Resolution.
Section 6.4. Operation and Maintenance Fund
. Money in the Revenue Fund shall first be
disbursed to make deposits into the Operation and Maintenance Fund. There shall be
deposited in the Operation and Maintenance Fund each month an amount sufficient to pay the
Operation and Maintenance Expenses due, or expected to come due, during the month, plus
an amount equal to one/twelfth of expenses payable on an annual basis such as insurance.
After the first day of the month, further deposits may be made to the Operations and
Maintenance Fund from the Revenue Fund to the extent necessary to pay current Operation
and Maintenance Expenses accrued and payable to the extent that funds are not available in
the Surplus Fund.
Section 6.5. Bond Principal and Interest Fund
. On or before the last business day of
each month so long as any Bonds remain Outstanding, there shall next be transferred into the
Bond Principal and Interest Fund (also referred to as the “Sinking Fund”) from the Revenue
Fund, to the extent not funded from capitalized interest, the following amounts:
(a) General. Sufficient moneys shall be paid in periodic installments from the Revenue Fund
into the Sinking Fund for the purpose of paying the Principal of and interest on the Senior
Bonds as they become due and payable. Amounts held in the Sinking Fund shall be used
solely to pay interest and Principal of the Senior Bonds as the same become due and payable
(whether at maturity or upon redemption).
(b) Interest. On or before the 30th day preceding each Interest Payment Date for Senior
Bonds, the Issuer shall deposit in the Sinking Fund an amount which, together with any other
moneys already on deposit therein and available to make such payment, is not less than the
interest coming due on such Senior Bonds on such Interest Payment Date.
(c) Principal. On or before the 30th day preceding each Principal Maturity Date for Senior
Bonds, the Issuer shall deposit in the Sinking Fund an amount which, together with any other
moneys already on deposit therein and available to make such payment, is not less than the
Principal coming due on such Senior Bonds on such Principal Maturity Date.
(d) Application of Money in Sinking Fund. No further payments need be made into the
Sinking Fund whenever the amount available in the Sinking Fund, if added to the amount then
in the Debt Service Reserve Fund, is sufficient to retire all Senior Bonds then Outstanding and
to pay all unpaid interest accrued and to accrue prior to such retirement. No moneys in the
Sinking Fund shall be used or applied to the optional purchase or redemption of Senior Bonds
prior to maturity unless: (i) provision shall have been made for the payment of all of the Senior
Bonds; or (ii) such moneys are applied to the purchase and cancellation of Senior Bonds which
are subject to mandatory redemption on the next mandatory redemption date, which falls due
within 12 months, such Senior Bonds are purchased at a price not more than would be
required for mandatory redemption, and such Senior Bonds are cancelled upon purchase; or
(iii) such moneys are in excess of the then required balance of the Sinking Fund and are
applied to redeem a part of the Senior Bonds Outstanding on the next succeeding redemption
date for which the required notice of redemption may be given.
Section 6.6. Debt Service Reserve Fund
. There shall be deposited into the Debt Service
Reserve Fund the amounts specified in Series Resolutions with respect to additional Senior
Bonds. Notwithstanding the foregoing, there shall be no deposit into the Debt Service Reserve
Fund with respect to the Series 2009A Bonds or any other SRF Bonds nor shall the Debt
Service Reserve Fund secure any SRF Bonds. After the issuance of any Senior Bonds, the
increase in the amount of the Debt Service Reserve Requirement resulting from the issuance
of such Senior Bonds shall be accumulated, to the extent not covered by deposits from Bond
proceeds or funds on hand, over a period not exceeding 61 months from the date of delivery of
such Senior Bonds in monthly deposits ("Accumulation Payments"), none of which is less than
27
1/60 of the amount to be accumulated. The balance of the Debt Service Reserve Fund shall be
maintained at an amount equal to the Debt Service Reserve Requirement (or such lesser
amount that is required to be accumulated in the Debt Service Reserve Fund in connection
with the periodic accumulation to the Debt Service Reserve Requirement after the issuance of
Senior Bonds).
There shall be transferred from the Revenue Fund to the Debt Service Reserve Fund the
amount necessary to restore, as further described below, the amount of cash and securities in
the Debt Service Reserve Fund to an amount equal to the Debt Service Reserve Requirement
(or such lesser monthly amount that is required to be deposited into the Debt Service Reserve
Fund after the issuance of Senior Bonds). Whenever for any reason the amount in the Sinking
Fund is insufficient to pay all interest or Principal becoming due on the Senior Bonds within the
next seven days, the Issuer shall make up any deficiency by transfers from the following funds
and accounts, in the following order of priority: first, from the Surplus Fund; and second, from
the funds and accounts of the Issuer relating to Subordinate Bonds which are not Subordinate
SRF Bonds. Whenever, on the date that such interest or Principal is due, there are insufficient
moneys in the Sinking Fund available to make such payment, the Issuer shall, without further
instructions, apply so much as may be needed of the moneys in the Debt Service Reserve
Fund to prevent default in the payment of such interest or Principal, with priority to interest
payments. Whenever by reason of any such application or otherwise (other than required
Accumulation Payments), the amount remaining to the credit of the Debt Service Reserve
Fund is less than the amount then required to be in the Debt Service Reserve Fund, such
deficiency shall be remedied by monthly deposits from the Revenue Fund, to the extent funds
are available in the Revenue Fund for such purpose after all required transfers set forth above
have been made.
Section 6.7. Subordinate Bond Fund
. On or before the last business day of each month
so long as any Subordinate Bonds remain Outstanding, there shall next be transferred into the
Subordinate Bond Fund from the Revenue Fund such amounts as may be required to be
deposited into the funds and accounts created by any Series Resolution authorizing the
issuance of Subordinate Bonds, for the purpose of paying Principal of and interest on
Subordinate Bonds, and accumulating reserves for such payments. Moneys credited to the
Subordinate Bond Fund shall be used solely for the purpose provided in the Series
Resolutions authorizing the Subordinate Bonds.
Section 6.8. Surplus Fund
. After making all payments and transfers hereinabove required,
all amounts remaining in the Revenue Fund shall be transferred by the last day of each month
to the Surplus Fund. Amounts credited to the Surplus Fund may be used for any lawful System
purposes, including without limitation, to pay for any Projects, to pay costs of replacing any
depreciable property or equipment of the System, to pay costs of any major or extraordinary
repairs, replacements or renewals of the System, to acquire land or any interest therein, to pay
any lease or contractual obligations not paid as Operation and Maintenance Expenses and to
make any transfers required to cure any deficiencies in any funds.
Section 6.9. Deficiencies in Funds
. If in any month there shall not be transferred into any
fund maintained pursuant to this Article, the full amounts required herein, amounts equivalent
to such deficiency shall be set apart and transferred to such fund or funds from the first
available and unallocated moneys in the Revenue Fund, and such transfer shall be in addition
to the amounts otherwise required to be transferred to such funds during any succeeding
month or months.
Section 6.10. Rebate Fund
. The Issuer shall calculate, from time to time, as required in
order to comply with the provisions of Section 148(f) of the Internal Revenue Code of 1986, as
amended, the amounts required to be rebated (including penalties) to the United States and
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shall deposit or cause to be deposited into the Rebate Fund any and all of such amounts
promptly following a determination of any such amount.
The Issuer shall direct any depository of the Rebate Fund to keep all moneys held therein
invested in Permitted Investments. To the extent and at the times required in order to comply
with Section 148(f) of the Code, the Issuer may withdraw funds from the Rebate Fund for the
purpose of making rebate payments (including penalties) to the United States as required by
Section 148(f) of the Code. Except as otherwise specifically provided in this Section, moneys
in the Rebate Fund may not be withdrawn from the Rebate Fund for any other purpose.
All Investments Earnings held in the Rebate Fund shall be retained in the Rebate Fund and
shall become part of the Rebate Fund. Moneys held in the Rebate Fund, including the
Investment Earnings thereon, if any, shall not be subject to a pledge in favor of the owners of
the Bonds under the Series Resolution and may not be used to pay amounts due on the Bonds
or amounts required for the operation, maintenance, enlargement, or extension of the System.
Whenever the Issuer has filed all reports required to be filed with the United States pursuant
to Section 148(f) of the Code with respect to any series of Bonds and has made all payments
required to be made to the United States pursuant to Section 148(f) of the Code relating
thereto, all moneys or investments remaining in the Rebate Fund may be transferred to the
Surplus Fund, and such moneys and investments may be used by the Issuer for any lawful
purpose.
Section 6.11. Investment of Funds; Transfer of Investment Earnings.
(a) Monies in all
funds shall, at the option and direction of the Treasurer, be invested and secured in the
manner required by law for public funds, in direct obligations of, or obligations the principal of
and interest on which are unconditionally guaranteed by, the United States of America, or in
any other Permitted Investments; provided that all such deposits and investments shall be
made in such manner that the money required to be expended from any fund will be available
at the proper time or times. All such investments shall be valued no less frequently than the
last business day of the Issuer's fiscal year at cost (taking into account normal amortization
and accretions of premiums and discounts) or, in the case of investments having a maturity
greater than five years from the date of valuation, at market value, except that any direct
obligations of the United States of America - State and Local Government Series shall be
continuously valued at their par value or principal face amount. For purposes of maximizing
investment returns, money in such funds may be invested, together with money in other funds
or with other money of the Issuer, in common investments of the kind described above, or in a
common pool of such investments maintained by the Issuer which shall be kept and held at an
official depository of the Issuer, which shall not be deemed to be a loss of the segregation of
such money or funds. Safekeeping receipts, certificates of participation or other documents
clearly evidencing the investment or investment pool in which such money is invested and the
share thereof purchased with such money or owned by such fund shall be held by or on behalf
of each such fund. If and to the extent necessary, such investments shall be promptly sold to
prevent any default.
(b) To the extent it is not otherwise provided for in a Series Resolution or is needed to
eliminate a deficiency, all Investment Earnings derived from deposits and investments credited
to the funds established in this Article shall be transferred or credited to the Revenue Fund.
(c) Notwithstanding anything to the contrary contained herein, any interest and income
derived from deposits and investment of any amounts credited to any fund or account may be
paid to the federal government if in the written opinion of bond counsel such payment is
required in order to prevent interest on any Bonds from being includable within the gross
income of the owners thereof for federal income tax purposes.
ARTICLE VII
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GENERAL PROVISIONS
Section 7.1. Rate Covenant
. The Issuer shall continuously own, control, operate, and
maintain the System in an efficient and economical manner and on a revenue producing basis
and shall at all times prescribe, fix, maintain and collect rates, fees and other charges for the
services and facilities furnished by the System that are fully sufficient at all times to:
(a) provide for 100% of the budgeted Operation and Maintenance Expenses and for the
accumulation in the Revenue Fund of a reasonable reserve therefore; and
(b) produce Net Revenues in each Fiscal Year which:
(a) will equal at least 110% of the Debt Service Requirement on all Senior Bonds then
Outstanding for the year of computation;
(b) will enable the Issuer to make all required payments, if any, into the Debt Service
Reserve Fund and the Rebate Fund;
(c) will enable the Issuer to accumulate an amount which, in the judgment of the
Governing Body, is adequate to meet the costs of major renewals, replacements,
repairs, additions, betterments, and improvements to the System, necessary to keep the
same in good operating condition or as is required by any governmental agency having
jurisdiction over the System; and
(d) will remedy all deficiencies in required payments into any of the funds and
accounts established under the Resolution from prior Fiscal Years.
If the Issuer fails to prescribe, fix, maintain and collect rates, fees and other charges in
accordance with the provisions of this Section, the owners of not less than 25% in aggregate
principal of the Bonds then Outstanding, without regard to whether any Event of Default shall
have occurred, may institute and prosecute in any court of competent jurisdiction an
appropriate action to compel the Issuer to prescribe, fix, maintain and collect rates, fees and
other charges in accordance with the requirements of this Section.
Section 7.2. Other Covenants Regarding the Operation of the System
. The Issuer
hereby covenants and agrees with each and every holder of the Bonds as follows:
(a) Maintenance and Efficiency. The Issuer will maintain the System in good condition
and operate it in an efficient manner and at reasonable cost.
(b) Insurance. The Issuer shall maintain insurance for the benefit of the holders on the
insurable portions of the System of a kind and in an amount which normally would be
carried by private companies engaged in a similar kind of business. The proceeds of any
insurance, except public liability insurance, shall be used to repair or replace the part or
parts of the System damaged or destroyed, or if not so used shall be placed in the
Operations and Maintenance Fund.
(c) Accounting and Audits. The Issuer will cause to be kept proper books and
accounts adapted to the System and in accordance with generally accepted accounting
practices, and will diligently act to cause the books and accounts to be audited annually
and reported upon not later than 180 days after the end of each Fiscal Year, or as soon
thereafter as is practicable, by an Independent Auditor and will provide copies of the
audit report to the Bondholders upon request. The Bondholders shall have at all
reasonable times the right to inspect the System and the records, accounts and data of
the Issuer relating thereto.
(d) State Laws. The Issuer will faithfully and punctually perform all duties with
reference to the System required by the Constitution and laws of the State of Iowa,
including the making and collecting of reasonable and sufficient rates for services
rendered by the System as above provided, and will segregate the revenues of the
System and apply said revenues to the funds specified in this Resolution.
(e) Property. The Issuer will not sell, lease, mortgage or in any manner dispose of the
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System, or any capital part thereof, including any and all extensions and additions that
may be made thereto, until satisfaction and discharge of all of the Bonds shall have
been provided for in the manner provided in this Resolution; provided, however, that this
covenant shall not be construed to prevent the disposal by the Issuer of property which
in the judgment of the Governing Body has become inexpedient or unprofitable to use in
connection with the System, or if it is to the advantage of the System that other property
of equal or higher value be substituted therefore, and provided further that the proceeds
of the disposition of such property shall be placed in the Operations and Maintenance
Fund and used in preference to other sources for capital improvements to the System.
(f) Fidelity Bond. The Issuer shall maintain fidelity bond coverage in amounts which
normally would be carried by private companies engaged in a similar kind of business on
each officer or employee having custody of funds of the System.
(g) Additional Charges. The Issuer will require proper connecting charges and/or
other security for the payment of services charges.
(h) Budget. The Governing Body of the Issuer shall approve and conduct operations
pursuant to a system budget of revenues and current expenses for each Fiscal Year.
Such budget shall take into account revenues and expenses during the current and last
preceding Fiscal Years.
Section 7.3. Disposition of Bond Proceeds; Arbitrage Not Permitted
. The Issuer
reasonably expects and covenants that no use will be made of the proceeds from the issuance
and sale of the Series 2009A Bonds issued hereunder which will cause any of the Series
2009A Bonds to be classified as arbitrage bonds within the meaning of Section 148(a) and (b)
of the Code, and that throughout the term of said Series 2009A Bonds it will comply with the
requirements of said statute and regulations issued thereunder.
To the best knowledge and belief of the Issuer, there are no facts or circumstances that
would materially change the foregoing statements or the conclusion that it is not expected that
the proceeds of the Series 2009A Bonds will be used in a manner that would cause such
Bonds to be arbitrage bonds. Without limiting the generality of the foregoing, the Issuer hereby
agrees to comply with the provisions of the Tax Exemption Certificate and the provisions of the
Tax Exemption Certificate are hereby incorporated by reference as part of this Resolution. The
Treasurer is hereby directed to make and insert all calculations and determinations necessary
to complete the Tax Exemption Certificate in all respects and to execute and deliver the Tax
Exemption Certificate at issuance of the Series 2009A Bonds to certify as to the reasonable
expectations and covenants of the Issuer at that date.
The Issuer covenants that it will treat as yield restricted any proceeds of the Series 2009A
Bonds remaining unexpended after three years from the issuance and any other funds
required by the Tax Exemption Certificate to be so treated. If any investments are held with
respect to the Series 2009A Bonds, the Issuer shall treat the same for the purpose of restricted
yield as held in proportion to the original principal amounts of each issue.
The Issuer covenants that it will exceed any investment yield restriction provided in this
Resolution only in the event that it shall first obtain an opinion of bond counsel that the
proposed investment action will not cause the Series 2009A Bonds to be classified as
arbitrage bonds under Section 148(a) and (b) of the Code.
The Issuer covenants that it will proceed with due diligence to spend the proceeds of the
Series 2009A Bonds for the purpose set forth in this Resolution. The Issuer further covenants
that it will make no change in the use of the proceeds available for the construction of facilities
or change in the use of any portion of the facilities constructed therefrom by persons other than
the Issuer or the general public unless it has obtained an opinion of bond counsel or a revenue
ruling that the proposed project or use will not be of such character as to cause interest on any
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of the Series 2009A Bonds not to be exempt from federal income taxes in the hands of holders
under the provisions of the Code.
Section 7.4. Additional Covenants, Representations and Warranties of the Issuer
. The
Issuer certifies and covenants with the purchasers and holders of the Series 2009A Bonds
from time to time outstanding that the Issuer through its officers, (a) will make such further
specific covenants, representations and assurances as may be necessary or advisable; (b)
comply with all representations, covenants and assurances contained in the Tax Exemption
Certificate, which Tax Exemption Certificate shall constitute a part of the contract between the
Issuer and the owners of the Series 2009A Bonds; (c) consult with bond counsel (as defined in
the Tax Exemption Certificate); (d) pay to the United States, as necessary, such sums of
money representing required rebates of excess arbitrage profits relating to the Series 2009A
Bonds; (e) file such forms, statements and supporting documents as may be required and in a
timely manner; and (f) if deemed necessary or advisable by its officers, to employ and pay
fiscal agents, financial advisors, attorneys and other persons to assist the Issuer in such
compliance.
ARTICLE VIII
SENIOR BONDS AND SUBORDINATE BONDS
Section 8.1. No Prior Lien Bonds nor Senior Bonds Except as Permitted in the
Resolution.
All Senior Bonds shall have complete parity of lien on the Net Revenues despite
the fact that any of the Senior Bonds may be delivered at an earlier date than any other of the
Senior Bonds. The Issuer may issue Senior Bonds in accordance with this Resolution, but the
Issuer shall issue no other obligations of any kind or nature payable from or enjoying a lien on
the Net Revenues or any part thereof having priority over or, except as permitted in this
Resolution, on a parity with the Series 2009A Bonds.
Section 8.2. Refunding Bonds.
Any or all of the Senior Bonds may be refunded prior to
maturity, upon redemption in accordance with their terms, or with the consent of the owners of
such Senior Bonds, and the refunding Bonds so issued shall constitute Senior Bonds, if the
Issuer shall have obtained a report from an Independent Auditor or a Financial Advisor
demonstrating that the refunding will reduce the total debt service payments on the Senior
Bonds being refunded on a present value basis or, as an alternative to, and in lieu thereof, the
Senior Bonds are being refunded under arrangements which immediately result in making
provision for the payment of the refunded Bonds.
Section 8.3. Senior Bonds.
Bonds (including refunding Bonds which do not meet the
requirements of Section 8.2) may also be issued on a parity with the Series 2009A Bonds
pursuant to a Series Resolution, and the Bonds so issued shall constitute Senior Bonds, if all
of the following conditions are satisfied:
(a) The Issuer shall have received, at or before issuance of the Senior Bonds, a
report by an Independent Auditor or Financial Advisor to the effect that the historical Net
Revenues for the preceding Fiscal Year were equal to at least 125% of the Maximum
Annual Debt Service Requirement on all Senior Bonds which will be Outstanding
immediately after the issuance of the proposed Senior Bonds.
The report by the Independent Auditor or Financial Advisor as aforesaid may contain
proforma adjustments to historical Net Revenues equal to 100% of the increased annual
amount attributable to any revision in the schedule of rates, fees and charges for the
services and facilities furnished by the System, adopted prior to the date of delivery of
the proposed Senior Bonds and not fully reflected in the historical Net Revenues actually
received during such 12 month period.
For purposes of this Section, “preceding Fiscal Year” shall be the most recently
completed Fiscal Year for which audited financial statements prepared by a certified
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public accountant are issued and available, but in no event a Fiscal Year which ended
more than eighteen (18) months prior to the date of issuance of the additional Senior
Bonds.
(b) The Issuer shall have received, at or before issuance of the Senior Bonds, a
report from an Independent Auditor or Financial Advisor to the effect that the payments
required to be made into each account of the Sinking Fund, the Debt Service Reserve
Fund and the Subordinate Bond Fund have been made and the balance in each account
of each such Fund is not less than the balance required by this Resolution as of the date
of issuance of the proposed Senior Bonds.
(c) The Series Resolution authorizing the proposed Senior Bonds must require (i) that
the amount to be accumulated and maintained in the Debt Service Reserve Fund be
increased to not less than 100% of the Debt Service Reserve Requirement computed on
a basis which includes all Senior Bonds (other than Senior SRF Bonds) which will be
Outstanding immediately after issuance of the proposed Senior Bonds and (ii) that the
amount of such increase be deposited in the Debt Service Reserve Fund on or before
the date and at least as fast as specified in Section 6.6 of this Resolution.
(d) The Series Resolution authorizing the proposed Senior Bonds must require the
proceeds of such proposed Senior Bonds to be used solely to make capital
improvements to the System, to fund interest on the proposed Senior Bonds, to acquire
existing or proposed Sewer utilities, extensions or related facilities, to refund other
obligations issued for such purposes (whether or not such refunding Bonds satisfy the
requirements of Section 8.2), and to pay expenses incidental thereto and to the issuance
of the proposed Senior Bonds.
(e) Notwithstanding the foregoing or anything herein to the contrary, if only SRF
Bonds are then outstanding, additional Senior SRF Bonds may be issued as provided in
this Resolution without complying with the provisions of Sections 8.3(a), (b) and (c)
hereof, and said provisions shall not apply.
Section 8.4. Subordinate Bonds.
(a) Bonds may also be issued on a subordinate basis to the Series 2009A Bonds and any
other Senior Bonds pursuant to a Series Resolution, and the Bonds so issued shall constitute
Subordinate Bonds, if all of the following conditions are satisfied:
(1) The Series Resolution authorizing the Subordinate Bonds shall provide that such
Subordinate Bonds shall be junior and subordinate in lien and right of payment to all
Senior Bonds Outstanding at any time.
(2) The Series Resolution authorizing the Subordinate Bonds shall establish funds
and accounts for the moneys to be used to pay debt service on the Subordinate Bonds,
and to provide any desired reserves therefore.
(3) The requirements of Section 8.3(d) are met with respect to such Subordinate
Bonds (as if such Bonds constituted Senior Bonds).
(b) In the event of any insolvency or bankruptcy proceedings, and any receivership,
liquidation, reorganization, or other similar proceedings in connection therewith, relative to the
Issuer or to its creditors, as such, or to its property, and in the event of any proceedings for
voluntary liquidation, dissolution, or other winding up of the Issuer, whether or not involving
insolvency or bankruptcy, the owners of all Senior Bonds then Outstanding shall be entitled to
receive payment in full of all Principal and interest due on all such Senior Bonds in accordance
with the provisions of the Series Resolution before the owners of the Subordinate Bonds are
entitled to receive any payment from the Net Revenues or the amounts held in the funds and
accounts created under the Series Resolution on account of Principal of, premium, if any, or
interest on the Subordinate Bonds.
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(c) If any Event of Default shall have occurred and be continuing (under circumstances
when the provisions of paragraph (b) are not applicable), the owners of all Senior Bonds then
Outstanding shall be entitled to receive payment in full of all Principal and interest then due on
all such Senior Bonds before the owners of the Subordinate Bonds are entitled to receive any
Payment from the Net Revenues or the amounts held in the funds and accounts created under
the Series Resolution of Principal of, premium, if any, or interest on the Subordinate Bonds.
(d) Any series of Subordinate Bonds may have such rank or priority with respect to any
other series of Subordinate Bonds as may be provided in the Series Resolution authorizing
such series of Subordinate Bonds and may contain such other provisions as are not in conflict
with the provisions of the Series Resolution.
Section 8.5. Accession of Subordinate Bonds to Senior Status
. By proceedings
authorizing all or any Subordinate Bonds, the Issuer may provide for the accession of such
Subordinate Bonds to the status of complete parity with the Senior Bonds if, as of the date of
accession, the conditions of Section 8.3 are satisfied, on a basis which includes all
Outstanding Senior Bonds and such Subordinate Bonds, and if on the date of accession:
(a) the Debt Service Reserve Fund contains an amount equal to the Debt Service
Reserve Requirement computed on a basis which includes all Outstanding Senior
Bonds and such Subordinate Bonds (but which excludes, in the case of both
Outstanding Senior Bonds and such Subordinate Bonds, any SRF Bonds); and
(b) the Sinking Fund contains the amount which would have been required to be
accumulated therein on the date of accession if the Subordinate Bonds had originally
been issued as Senior Bonds.
Section 8.6. Adoption of Proceedings
. The Governing Body shall adopt a Series
Resolution authorizing the issuance of any additional Bonds and reciting that the requirements
of this Article have been satisfied, and shall set forth in such proceedings, among other things,
the date or dates such additional Bonds shall bear and the rate or rates of interest, interest
payment date or dates, maturity date or dates, and redemption provisions with respect to such
additional Bonds and any other matters applicable to such additional Bonds as the Governing
Body may deem advisable.
Any such Series Resolution shall restate and reaffirm, by reference, all of the applicable
terms, conditions and provisions of this Resolution not modified by the Series Resolution.
Section 8.7. Proceedings Authorizing Additional Bonds
. No Series Resolution
authorizing the issuance of additional Bonds as permitted under this Article shall conflict with
the terms and conditions of this Resolution, except to the extent that the Series Resolution is
adopted for one of the purposes set forth in Section 11.1 and complies with the provisions of
Section 11.1 for the adoption of Supplemental Resolutions without the consent of Bondholders.
Section 8.8. Applicability to Additional Bonds and Outstanding Interim Loan
. (a) The
provisions of this Resolution shall be construed as including and being applicable to any future
series of Bonds, and any such Bonds shall be treated, unless otherwise specifically stated, as
if they had been issued together with the Series 2009A Bonds and pursuant to the terms of this
Resolution.
(b) The Outstanding Interim Loan shall be deemed to be a Subordinate SRF Bond within
the meaning of this Resolution. This Resolution shall be construed whenever possible so as
not to conflict with the terms and conditions of the Interim Loan and Disbursement Agreement
approved and entered into at the time of issuance of the Outstanding Interim Loan. In the
event such construction is not possible, or in the event of any conflict or inconsistency between
the terms hereof and those of the foregoing Interim Loan and Disbursement Agreement, the
terms of said Interim Loan and Disbursement Agreement shall prevail and be given effect to
the extent necessary to resolve any such conflict or inconsistency.
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Section 8.9. Credit Facilities.
In connection with the issuance of any Bonds under the
Series Resolution, the Issuer may obtain or cause to be obtained one or more Credit Facilities
providing for payment of all or a portion of the Principal of, premium, if any, or interest due or to
become due on such Bonds, providing for the purchase of such Bonds by the Credit Facility
Provider, or providing funds for the purchase of such Bonds by the Issuer. In connection
therewith the Issuer shall enter into Credit Facility Agreements with such Credit Facility
Providers providing for, among other things, (i) the payment of fees and expenses to such
Credit Facility Providers for the issuance of such Credit Facilities; (ii) the terms and conditions
of such Credit Facilities and the Bonds affected thereby; and (iii) the security, if any, to be
provided for the issuance of such Credit Facilities. The Issuer may secure any Credit Facility
by an agreement providing for the purchase of the Bonds secured thereby with such
adjustments to the rate of interest, method of determining interest, maturity, or redemption
provisions as are specified by the Issuer in the applicable Series Resolution. The Issuer may in
a Credit Facility Agreement agree to directly reimburse such Credit Facility Provider for
amounts paid under the terms of such Credit Facility, together with interest thereon; provided,
however, that no Reimbursement Obligation shall be created for purposes of the Series
Resolution until amounts are paid under such Credit Facility. Any such Reimbursement
Obligation shall be deemed to be a part of the Bonds to which the Credit Facility relates which
gave rise to such Reimbursement Obligation, and references to Principal and interest
payments with respect to such Bonds shall include Principal and interest due on the
Reimbursement Obligation incurred as a result of payment of such Bonds with the Credit
Facility. Any such Credit Facility shall be for the benefit of and secure such Bonds or portion
thereof as specified in the applicable Series Resolution.
ARTICLE IX
DISCHARGE AND SATISFACTION
Section 9.1. Discharge and Satisfaction of Bonds
. The covenants, liens and pledges
entered into, created or imposed pursuant to this Resolution or any Series Resolution may be
fully discharged and satisfied with respect to the Bonds authorized thereunder, or any of them,
in any one or more of the following ways:
(a) By paying the said Bonds when the same shall become due and payable; and
(b) By depositing in trust with the Treasurer, or with a corporate trustee designated by
the Governing Body for the payment of said Bonds and irrevocably appropriated
exclusively to that purpose an amount in cash or Government Obligations the maturities
and income of which shall be sufficient to retire at maturity, or by redemption prior to
maturity on a designated date upon which said Bonds may be redeemed, all of such
Bonds Outstanding at the time, together with the interest thereon to maturity or to the
designated redemption date, premiums thereon, if any that may be payable on the
redemption of the same; provided that proper notice of redemption of all such obligations
to be redeemed shall have been previously published or provisions shall have been
made for such publication.
Upon such payment or deposit of money or securities, or both, in the amount and manner
provided by this Section, all liability of the Issuer with respect to such Bonds shall cease,
determine and be completely discharged, and the holders thereof shall be entitled only to
payment out of the money or securities so deposited.
ARTICLE X
EVENTS OF DEFAULT AND REMEDIES
Section 10.1. Events of Default
. An Event of Default is one or more of the following:
(a) A default shall be made in the due and punctual payment of the principal or
redemption price of any Bond when and as the same shall become due and payable,
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whether at maturity or by call or proceedings for redemption, or otherwise;
(b) A default shall be made in the due and punctual payment of any installment of
interest on any Bond when and as such interest installment shall become due and
payable;
(c) A default shall be made by the Issuer in the performance or observance of any
other of the covenants, agreements or conditions on its part in the Series Resolution or
in the Bonds contained, and such default shall have continued for a period of 90 days
after written notice specifying such default and requiring that it shall have been remedied
is given to the Issuer by the owners of not less than 25% in principal amount of the
Bonds Outstanding; provided that, if such failure cannot be corrected within such 90 day
period, it shall not constitute an Event of Default if corrective action is instituted within
such period and such corrective action is diligently pursued until the failure is corrected,
provided that if such corrective action includes legal action such legal action shall be
diligently pursued until either the failure is corrected or such failure shall be determined
by a court of final and competent jurisdiction as not correctable as a matter of law.
Section 10.2. Default and Remedies
. In the event of (a) a default on the part of the Issuer
in the prompt and full payment of principal of or interest on any Bond, or (b) a default in the
keeping of any other covenant herein contained (if such default shall continue for a period of
ninety days after written notice specifying the nature of the default and requiring it to be
remedied is received by the Issuer), the holders of the Bonds shall have the right to proceed at
law or in equity by suit, action or mandamus to enforce and compel performance of the duties
required by the terms of the Resolution authorizing the issuance of the Bonds, or to obtain the
appointment of a receiver to take possession of and operate the System, and to perform the
duties required by the terms of the Resolution. The holders of the Bonds shall have no right to
accelerate any payment obligation of the Issuer with respect to the Bonds.
No holder of any Bond shall have the right to institute any proceeding, judicial or otherwise,
for the enforcement of the covenants herein contained, except as provided in this Section. The
holders of not less than 25% in principal amount of the Outstanding Bonds shall have the right,
either at law or in equity, through suit, action or other proceedings, to protest and enforce the
rights of all holders of such Bonds and to compel the performance of any and all of the
covenants required herein to be performed by the Issuer, and its officers and employees,
including but not limited to the fixing and maintaining of rates, fees and charges and the
collection and proper segregation of Net Revenues and the application and use thereof. The
holders of a majority in principal amount of Outstanding Bonds shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the
Bondholders or the exercise of any power conferred on them and the right to waive a default in
the performance of any such covenant, and its consequences, except a default in the payment
of the principal of or interest on any Bond when due. Nothing herein, however, shall impair the
absolute and unconditional right of the holder of each Bond to receive payment of the principal
of, premium, if any, and interest on such Bond as such principal, premium and interest
respectively become due, and to institute suit for any such payment.
Section 10.3. Resolution a Contract
. The provisions of this Resolution shall constitute a
contract between the Issuer and the holder or holders of the Bonds, and after the issuance of
any of the Bonds no change, variation or alteration of any kind in the provisions of this
Resolution shall be made in any manner, except as provided in Article XI, until such time as all
of the Bonds, and interest due thereon, shall have been satisfied and discharged as provided
in this Resolution.
ARTICLE XI
SUPPLEMENTAL RESOLUTIONS
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Section 11.1. Amendment of Resolution Without Consent
. The Issuer may, without the
consent of or notice to any of the holders of the Bonds, approve one or more Supplemental
Resolutions, which thereafter shall form a part of this Resolution, for any one or more of the
following purposes:
(a) to cure any ambiguity, defect, omission or inconsistent provision in this Resolution
or in the Bonds; or to comply with any applicable provision of law or regulation of federal
or state agencies; provided, however, that such action shall not materially adversely
affect the interests of the holders of the Bonds;
(b) to change the terms or provisions of this Resolution to the extent necessary to
prevent the interest on the Bonds from being includable within the gross income of the
holders thereof for federal income tax purposes;
(c) to grant to or confer upon the holders of the Bonds any additional rights, remedies,
powers or authority that may lawfully be granted to or conferred upon the holders of the
Bonds;
(d) to add to the covenants and agreements of the Issuer contained in this Resolution
other covenants and agreements of, or conditions or restrictions upon, the Issuer or to
surrender or eliminate any right or power reserved to or conferred upon the Issuer in this
Resolution;
(e) To subject to the lien and pledge of this Resolution additional Net Revenues as
may be permitted by law;
(f) To modify any of the provisions of the Resolution in any respect if such
modification shall not become effective until after the Bonds Outstanding immediately
prior to the effective date of such Supplemental Resolution shall cease to be
Outstanding and if any Bonds issued contemporaneously with or after the effective date
of such Supplemental Resolution shall contain a specific reference to the modifications
contained in such subsequent proceedings;
(g) To modify the Resolution to provide for the issuance of Senior Bonds or
Subordinate Bonds, and such modification may deal with any subjects and make any
provisions which the Issuer deems necessary or desirable for that purpose;
(h) To modify any of the provisions of the Resolution in any respect (other than a
modification of the type described in Section 11.2 requiring the consent of the
Bondholders); provided that for (i) any Outstanding Bonds which are assigned a Rating
and which are not secured by a Credit Facility providing for the payment of the full
amount of Principal and interest to be paid thereon, each Rating Agency shall have
given written notification to the Issuer that such modification will not cause the then
applicable Rating on any Bonds to be reduced or withdrawn, and (ii) any Outstanding
Bonds which are secured by Credit Facilities providing for the payment of the full amount
of the Principal and interest to be paid thereon, each Credit Facility Provider shall have
consented in writing to such modification.
Section 11.2. Amendment of Resolution Requiring Consent
. The Issuer also may
approve one or more Supplemental Resolutions, which thereafter shall form a part of this
Resolution, if such Supplement Resolution shall have been consented to by holders of not less
than two-thirds (2/3) in principal amount of the Bonds at any time Outstanding (not including in
any case any Bonds which may then be held or owned by or for the account of the Issuer, but
including such refunding Bonds as may have been issued for the purpose of refunding any of
such Bonds if such refunding Bonds shall not then be owned by the Issuer); but this Resolution
may not be so amended in such manner as to:
(a) Make any change in the maturity or interest rate of the Bonds, or modify the terms
of payment of Principal of or interest on the Bonds or any of them or impose any
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conditions with respect to such payment;
(b) Materially affect the rights of the holders of less than all of the Bonds then
Outstanding; and
(c) Reduce the percentage of the Principal amount of Bonds, the consent of the
holders of which is required to effect a further amendment;
in each case without the consent of the owners of all of the affected Bonds then
Outstanding.
Whenever the Issuer shall propose to amend this Resolution under the provisions of this
Section, it shall cause notice of the Supplemental Resolution to be filed with the Original
Purchaser and to be mailed by certified mail to each registered owner of any Bond as shown
by the records of the Registrar. Such notice shall set forth the nature of the proposed
amendment and shall state that a copy of the proposed Supplemental Resolution is on file in
the office of the City Clerk.
Whenever at any time within one year from the date of the mailing of said notice there shall
be filed with the City Clerk an instrument or instruments executed by the holders of at least
two-thirds in aggregate principal amount of the Bonds then outstanding as in this Section
defined, which instrument or instruments shall refer to the proposed Supplemental Resolution
described in said notice and shall specifically consent to and approve the adoption thereof,
thereupon, but not otherwise, the Governing Body of the Issuer may adopt such Supplemental
Resolution and such Supplemental Resolution shall become effective and binding upon the
holders of all of the Bonds.
Any consent given by the holder of a Bond pursuant to the provisions of this Section shall
be irrevocable for a period of six months from the date of the instrument evidencing such
consent and shall be conclusive and binding upon all future holders of the same Bond during
such period. Such consent may be revoked at any time after six months from the date of such
instrument by the holder who gave such consent or by a successor in title by filing notice of
such revocation with the City Clerk.
The fact and date of the execution of any instrument under the provisions of this Section
may be proved by the certificate of any officer in any jurisdiction who by the laws thereof is
authorized to take acknowledgments of deeds within such jurisdiction that the person signing
such instrument acknowledged before him the execution thereof, or may be proved by an
affidavit of a witness to such execution sworn to before such officer.
The amount and numbers of the Bonds held by any person executing such instrument and
the date of his holding the same may be proved by an affidavit by such person or by a
certificate executed by an officer of a bank or trust company showing that on the date therein
mentioned such person had on deposit with such bank or trust company the Bonds described
in such certificate.
ARTICLE XII
MISCELLANEOUS PROVISIONS
Section 12.1. Severability
. If any section, paragraph, or provision of this Resolution shall
be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such
section, paragraph or provision shall not affect any of the remaining provisions.
Section 12.2. Repeal of Conflicting Ordinances or Resolutions and Effective Date
. All
other ordinances, resolutions and orders, or parts thereof, in conflict with the provisions of this
Resolution are, to the extent of such conflict, hereby repealed; and this Resolution shall be in
effect from and after its adoption.
Section 12.3. Rule of Construction
. This Resolution and the terms and conditions of the
Series 2009A Bonds authorized hereby shall be construed whenever possible so as not to
conflict with the terms and conditions of the Loan and Disbursement Agreement. In the event
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such construction is not possible, or in the event of any conflict or inconsistency between the
terms hereof and those of the Loan and Disbursement Agreement, the terms of the Loan and
Disbursement Agreement shall prevail and be given effect to the extent necessary to resolve
any such conflict or inconsistency.
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Passed and approved this 15 day of December, 2008.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
Donation of Firefighter Gear: City Manager recommending approval of the donation of
firefighter gear to firefighters in the Philippines. Upon motion the documents were received,
filed, and approved.
U.S. Conference of Mayors: Communication from the U.S. Conference of Mayors advising
that the City has received a Best Practice Award for our lead safety efforts. Upon motion the
document was received and filed.
Business License Refunds Diamond Jo, LLC requesting a refund of Cigarette License No.
DBQ-037 in the amount of $50.00.
David Wetter, Club Phoenix, requesting a refund of Beer/Wine/Liquor License #LC0035579
in the amount of $422.50.
Upon motion the documents were received and filed and the refunds approved.
Business License Applications: City Manager recommending approval of annual liquor
license renewals as submitted. Upon motion the documents were received and filed and
Resolution No. 438-08 Granting the issuance of one new license to sell cigarettes to Diamond
Jo Casino and Resolution No. 439-08 Granting the issuance of a Class “B” (Hotel/Motel)
Liquor License to Holiday Inn Five Flags; Class “C” Beer/Liquor License to The White House,
Mario’s Italian Restaurant, Pepper Sprouts, Bowling and Beyond, The Moracco, Cue Masters
Billiards, and Instant Replay; a Class “B” Wine Permit to Diamond Jo, LLC; and a Class “WBN”
(Native Wine) Permit to Engraved Gift Collection were adopted.
RESOLUTION NO. 438-08
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
That the following having complied with the provisions of law relating to the sale of
Cigarettes within the City of Dubuque, Iowa, be granted a permit to sell Cigarettes and
Cigarette Papers within said City.
Diamond Jo Casino Diamond Jo, LLC 301 Bell Street
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Passed, approved and adopted this 15 day of December, 2008
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
RESOLUTION NO. 439-08
Whereas, applications for Liquor Licenses have been submitted to this Council for approval
and the same have been examined and approved; and
Whereas, the premises to be occupied by such applicants were inspected and found to
comply with the State Laws and all City Ordinances relevant thereto and they have filed proper
bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
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DUBUQUE, IOWA:
That the Manager be authorized to cause to be issued the following named applicants a
Liquor License.
CLASS “B” (HOTEL/MOTEL) LIQUOR LICENSE
Kinseth Hotel Corporation Holiday Inn Five Flags+(Sunday Sale) 450 Main Street
CLASS “C” BEER/LIQUOR LICENSE
Mary A. Hoffman The White House 450 W Locust Street
T & M, Inc. Mario’s Italian Restaurant 1298 Main Street
+(Sunday Sale)
Pepper Sprout, Inc. Pepper Sprout+(Sunday Sale) 378 Main Street
Bowling & Beyond Bowling & Beyond DBQ 1860 Hawthorne Street
Dubuque +(Sunday/Outdoor Sale)
The Moracco, Inc. The Moracco+(Sunday Sale) 1413 Rockdale
Cue Masters Billiards, Inc. Cue Masters Billiards 900 Central Avenue
+(Sunday Sale)
Pamela Barry Arensdorf Instant Replay +(Sunday Sale) 1602 Central Avenue
CLASS “B” WINE
Diamond Jo, LLC Diamond Jo Casino 301 Bell Street
CLASS “WBN” (NATIVE WINE) PERMIT
Woodline, Inc. Engraved Gift Collection 962 Main Street
Passed, approved and adopted this 15th day of December, 2008
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
BOARDS/COMMISSIONS
Applicants were invited to address the City Council regarding their desire to serve on the
following Boards/Commissions: Housing Code Appeals Board: Two 3-year terms through
January 11, 2012 (Terms of Durley and Newman). Applicants: Fred Miller, 2462 Central
Avenue; and Paul Newman, 1895 Central Avenue, #3. Mr. Miller spoke in support of his
appointment.
Appointments to the following Boards/Commissions:
Historic Preservation Commission – Langworthy District Interim Commissioner: One 4-year
term through July 1, 2011 (Term of Cleek). Applicant: Eli Licht, 1759 Vizaleea Drive. Motion by
Lynch to appoint Eli Licht to the Historic Preservation Commission as an Interim Commissioner
for the Langworthy Historic District for a 4-year term through July 1, 2011. Seconded by
Connors. Motion carried 7-0.
Human Rights Commission: Three 3-year terms through January 1, 2012 (Terms of Allen,
Wilberding, Vanden Heuvel). Applicants: Anthony Allen, 575 Almond Street; Terry Driskell, 249
York Street; and Katrina Wilberding, 3715 Asbury Road. Motion by Jones to appoint Anthony
Allen and Katrina Wilberding to the Human Rights Commission for 3-year terms through
January 1, 2012. Seconded by Voetberg. Jones stated that it is important for applicants who
are unknown to the City Council be present for the interview portion of the appointment
process. Voetberg concurred with Jones. Connors stated that many applicants are appointed
without coming forward to introduce themselves and asked the City Clerk’s Office to use
stronger language when informing applicants to be present. Motion carried 5-2 with Connors
and Lynch voting nay.
Motion by Connors to appoint Terry Driskell to the Human Rights Commission for a 3-year
term through January 1, 2012. Seconded by Resnick. Motion carried 4-2 with Voetberg and
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Braig voting nay and Jones voting present.
Mediacom Charitable Foundation: Two 1-year terms through December 31, 2009 (Terms of
Chavenelle and Twining). Applicants: Gail Chavenelle, 1155 Kelly Lane; and Connie Twining,
421 North Booth Street. Motion by Braig to appoint Gail Chavenelle and Connie Twining to the
Mediacom Charitable Foundation for 1-year terms through December 31, 2009. Seconded by
Connors. Motion carried 7-0.
Transit Board of Trustees: One 3-year term through July 30, 2011 (Term of Davidson):
Applicant: John Curtis, 1951 Alta Vista. Motion by Jones to appoint John Curtis to the Transit
Board of Trustees for a 3-year term through July 30, 2011. Seconded by Braig. Motion carried
7-0.
PUBLIC HEARINGS
Upon motion the rules were suspended to allow anyone present to address the City Council.
Request to Rezone – 6255 Pennsylvania Avenue: Proof of publication on notice of public
hearing to consider a request from Dave and Tim Blake to rezone property located at 6255
Pennsylvania Avenue (west of Heacock Road and north of Pennsylvania Avenue) from AG
Agricultural to AG Agricultural District with a RROD Rural Residential Overlay Designation and
Zoning Advisory Commission recommending approval. Motion by Lynch to receive and file the
documents and that the requirement that a proposed ordinance be considered and voted on
for passage at two Council meetings prior to the meeting at which it is to be passed be
suspended. Seconded by Connors. Motion carried 7-0.
Motion by Lynch for final consideration and passage of Ordinance No. 80-08 Amending
Appendix A (the Zoning Ordinance) of the City of Dubuque Code of Ordinances by
reclassifying hereinafter described property located at the northwest corner of Middle Road
and Heacock Road from AG Agricultural District to AG Agricultural District with a Rural
Residential Overlay District Designation. Seconded by Jones. Motion carried 7-0.
OFFICIAL PUBLICATION
ORDINANCE NO. 80-08
AN ORDINANCE AMENDING APPENDIX A (THE ZONING ORDINANCE) OF THE CITY OF
DUBUQUE CODE OF ORDINANCES BY RECLASSIFYING HEREINAFTER DESCRIBED
PROPERTY LOCATED AT THE NORTHWEST CORNER OF MIDDLE ROAD AND
HEACOCK ROAD FROM AG AGRICULTURAL DISTRICT TO AG AGRICULTURAL
DISTRICT WITH AN RROD RURAL RESIDENTIAL DISTRICT OVERLAY DISTRICT
DESIGNATION.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That Appendix A (The Zoning Ordinance) of the City of Dubuque Code of
Ordinances is hereby amended by reclassifying the hereinafter-described property from AG
Agricultural District to AG Agricultural District with an RROD Rural Residential Overlay District
Designation, to wit:
Lot 1 SE ¼ SE ¼ Section 19 T89N R2E, and to the centerline of the adjoining public
right-of-way, all in the City of Dubuque, Iowa.
Section 2. The foregoing amendment has heretofore been reviewed by the Zoning Advisory
Commission of the City of Dubuque, Iowa.
Section 3. This ordinance shall take effect immediately upon publication, as provided by
law.
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Passed, approved and adopted this 15 day of December, 2008.
/s/Roy D. Buol, Mayor
Attest: /s/Jeanne F. Schneider, CMC, City Clerk
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Published officially in the Telegraph Herald Newspaper the 20 day of December, 2008.
/s/Jeanne F. Schneider, CMC, City Clerk
REINSTATE THE RULES
Upon motion the rules were reinstated limiting discussion to the City Council.
ACTION ITEMS
Alley at St. Anthony’s School: City Manager recommending that the City plow and de-ice the
alley that connects St. Ambrose Street and Grandview Avenue through the St. Anthony’s
property as a safety precaution. Motion by Voetberg to receive and file the documents and
approve the recommendation. Seconded by Connors. Motion carried 7-0.
Renaming of David Court: Zoning Advisory Commission recommending approval of the
renaming of David Court to Peach Tree Lane as requested by the City of Dubuque. Motion by
Lynch to receive and file the documents and that the requirement that a proposed ordinance
be considered and voted on for passage at two Council meetings prior to the meeting at which
it is to be passed be suspended. Seconded by Connors. Motion carried 7-0.
Motion by Lynch for final consideration and passage of Ordinance No. 81-08 Renaming the
street currently named David Court to Peach Tree Lane. Seconded by Connors. Motion carried
7-0.
OFFICIAL PUBLICATION
ORDINANCE NO. 81-08
AN ORDINANCE RENAMING THE STREET CURRENTLY NAMED DAVID COURT TO
PEACH TREE LANE
Whereas, the City Council desires to rename David Court to correspond to the requested
name of the extension of said roadway; and
Whereas, the request has been reviewed by the Zoning Advisory Commission; and
Whereas, the City Council desires to rename the current David Court as Peach Tree Lane.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the street currently known as David Court be renamed Peach Tree Lane.
Section 2. The foregoing street name change has heretofore been reviewed by the Zoning
Advisory Commission of the City of Dubuque, Iowa.
Section 3. That the Mayor and City Clerk are hereby authorized and directed to endorse the
approval of the City of Dubuque, Iowa upon such street name, and to file notice of the
renaming of said street with the Recorder, Auditor and City Assessor of Dubuque County,
Iowa.
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Passed, approved and adopted this 15 day of December, 2008.
/s/Roy D. Buol, Mayor
Attest: /s/Jeanne F. Schneider, CMC, City Clerk
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Published officially in the Telegraph Herald Newspaper the 20 day of December, 2008.
/s/Jeanne F. Schneider, CMC, City Clerk
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Community Foundation (Project HOPE) Contract: City Manager recommending approval of
an amendment to the contract for services with the Community Foundation of Greater
Dubuque for services relating to Project HOPE which extends the termination date until
June 30, 2009, and modifies the scope of work. Motion by Connors to receive and file the
documents and approve the recommendation. Seconded by Braig. Motion carried 7-0.
Fiscal Year 2010 Budget Policy Guidelines: City Manager recommending approval of the
Budget Policy Guidelines for Fiscal Year 2010. Motion by Braig to receive and file the
documents and approve the recommendation. Seconded by Voetberg. Jones objected to
Guideline #10. Lynch congratulated staff on a fantastic job. Motion carried 7-0.
COUNCIL MEMBER REPORTS
Braig inquired as to the status of the Trailways Bus Depot issue. Van Milligen stated that the
City is looking at options at the Keyline Transit Office as well as exploring alternative locations.
He stated that a transition period may be needed.
Resnick stated that he has obtained a quantity of information regarding green roofs like the
one recently approved for the fire station. He said the technology is unique and it is the right
thing to do.
CLOSED SESSION
Motion by Lynch to go into closed session at 7:16 p.m. regarding pending litigation and
property acquisition pursuant to Chapter 21.5(1)(c)(j) 2007 Code of Iowa. Seconded by
Voetberg. Motion carried 7-0.
Upon motion the City Council reconvened in open session at 7:39 p.m. stating that staff had
been given proper direction.
There being no further business, upon motion the City Council adjourned at 7:40 p.m.
/s/Jeanne F. Schneider, CMC
City Clerk
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