1 26 09 City Council Proceedings Official_Special
CITY OF DUBUQUE, IOWA
CITY COUNCIL PROCEEDINGS
OFFICIAL
The Dubuque City Council met in special session at 6:30 p.m. on January 26, 2009 in
the Historic Federal Building.
Present: Mayor Buol, Council Members Braig, Connors, Jones, Lynch, Voetberg, City
Manager Van Milligen, City Attorney Lindahl
Absent: Council Member Resnick
Mayor Buol read the call and stated this is a special session of the City Council called
for the purpose of discussing such matters which may properly come before the City
Council.
PUBLIC HEARINGS
Issuance of General Obligation Bonds: Proof of publication on notice of public
hearing to consider the issuance of not to exceed $25,000,000 General Obligation
Bonds (for Urban Renewal Purposes) and City Manager recommending approval.
Motion by Lynch to receive and file the documents and adopt Resolution No. 32-09
Instituting proceedings to take additional action for the issuance of not to exceed
$25,000,000 General Obligation Bonds. Seconded by Jones. Motion carried 6-0.
RESOLUTION NO. 32-09
INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE
ISSUANCE OF NOT TO EXCEED $25,000,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, this Council has held a
public meeting and hearing upon the proposal to institute proceedings for the issuance
of not to exceed $25,000,000 General Obligation Bonds for the essential corporate
purpose of paying costs of aiding in the planning, undertaking and carrying out of urban
renewal project activities under the authority of Chapter 403 of the Code of Iowa and the
Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal
District, including those costs associated with the funding of any payments required
under a Guaranty Agreement between the City and Dubuque Bank & Trust Company,
entered into to secure a loan to Dubuque Initiatives for the purpose of acquiring,
renovating, and improving the Dubuque Building located at 700 Locust Street, Dubuque,
Iowa, and no petition was filed calling for a referendum thereon, and this Council has
considered the extent of objections received from residents or property owners as to
said proposed issuance of Bonds; and, accordingly the following action is now
considered to be in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That this Council does hereby institute proceedings and takes additional
action for the sale and issuance in the manner required by law of not to exceed
$25,000,000 General Obligation Bonds for the foregoing essential corporate purpose.
Section 2. That the Finance Officer, when so directed by the City Manager, be and is
authorized and directed to proceed on behalf of the City to select a date for the sale of
all or a portion of said Bonds, to cause to be prepared such notice and sale information
as may appear appropriate, to publish and distribute the same on behalf of the City and
this Council and otherwise to take all action necessary to permit the sale of said Bonds
on a basis favorable to the City and acceptable to the Council.
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Passed and approved this 26 day of January, 2009.
Roy D. Buol, Mayor
Attest, Jeanne F. Schneider, CMC, City Clerk
International Business Machines Corporation: Proof of publication on notice of public
hearing to consider a Development Agreement between the City and Dubuque
Initiatives and a proposed Incentive Agreement between the City and International
Business Machines Corporation and City Manager recommending approval. Resolution
Approving and authorizing execution of the Development Agreement between the City
of Dubuque, Iowa and Dubuque Initiatives, and the Incentive Agreement between the
City and International Business Machines Corporation presented and read.
Motion by Lynch to adjourn and defer action on the Resolution and the proposal to
nd
the meeting to be held at 6:30 p.m. on the 2 day of February, 2009, at this place.
Seconded by Connors. Motion carried 6-0.
There being no further business, upon motion the City Council adjourned at 6:47 p.m.
Jeanne F. Schneider, CMC
City Clerk