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Bond Sale - Water ProjectsMEMORANDUM October 1, 2002 TO:The Honorable Mayor and City Council Members FROM:Michael C. Van Milligen, City Manager SUBJECT:Bond Sale to Support Water Projects (New Water Tower and New Water Main Along Northwest Arterial) Finance Director Ken TeKippe is recommending the sale of General Obligation Bonds not to exceed $3,300,000 to support water projects which were included in the adopted Fiscal Year 2003 CIP budget, and that a public hearing be set for October 21, 2002. I concur with the recommendation and respectfully request Mayor and City Council approval. ___________________ Michael C. Van Milligen MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director CITY OF DUBUQUE, IOWA MEMORANDUM TO:Michael C. Van Milligen, City Manager FROM:Kenneth J TeKippe, Finance Director SUBJECT: Bond Sale to Support Water Projects (New Water Tower and New Water Main along Northwest Arterial) DATE:September 30, 2002 The purpose of this memorandum is to recommend the sale of General Obligation Bonds to support water projects which were included in the adopted FY'03 CIP budget, Although we are selling General Obligation Bonds to support the project, repayment of the debt will be from water revenues. The date of publication is to be not less than four clear days nor more than twenty days before the date of said public meeting on the issuance of said Bonds. The requested action steps for City Council is to adopt the attached resolution fixing the date of October 21, 2002 for a public hearing on the proposition of selling not to exceed $3,300,000 in General Obligation Bonds (for an essential corporate purpose) of Dubuque, Iowa and providing for publication of notice thereof. KJT/jmg Attachments cc: Barry Lindahl Pauline Joyce Jeanne Schneider (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: The City Council of Dubuque, Iowa. Date of Meeting:________, 2002. Time of Meeting:_________o'clock_____ .M. Place of Meeting: Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa. PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental body wilt meet at the date, time and place above set out. The tentative agenda for said meet'mg is as follows: Not to exceed $3,300,000 General Obligation Bonds. · Resolution fixing date for a meeting on the proposition to issue. Such additional matters as are set forth on the additional______page(s) attached hereto. (number) This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of Iowa, and the local rules of said governmental body. ______________________ City Clerk, Dubuque, Iowa October 8 2002 The City Council of Dubuque, Iowa, met in________ session, in the Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date. There were present Mayor Terrance M. Duggan, in the chair, and the following named Council Members: Roy Buol, Patricia Cline, doyce Connors, Ann Michalski, John Markham, Dan Nicholson Absent: None -1- Council Member_______introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $3,300,000 GENERAL OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that the same be adopted. Council Member_________ seconded the motion to adopt. The roll was called and the vote was, AYES: Buol, Cline, Connors, Duggan, Markham Michalski, Nicholson NAYS: None Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO. 534-02 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $3,300,000 GENERAL OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Dubuque, Iowa, should issue General Obligation Bonds to the amount of not to exceed $3,300,000, as authorized by Section 384.25 of the City Code of Iowa, for the purpose of providing funds to pay costs of carrying out an essential corporate purpose project as hereinafter described; and WHEREAS, before said Bonds may be issued, it is necessary to comply with the provisions of said Code, and to publish a notice of the proposal to issue such Bonds and of the time and place of the meeting at which the Council proposes to take action for the issuance of the Bonds and to receive oral and/or written objections from any resident or property owner of said City to such action; -2- NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That this Council meet in the Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at 6:30 o'clock P.M., on the 21st day of October, 2002, for the purpose of taking action on the matter of the issuance of not to exceed $3,300,000 General Obligation Bonds for an essential corporate purpose of said City, the proceeds of which bonds will be used to provide funds to pay costs of the acquisition, construction, improvement and equipping of waterworks and water main extensions, including water treatment plant facilities and water main extensions and improvements. Section 2. That the Clerk is hereby directed to cause at least one publication to be made of a notice of said meeting, in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in said City, said publication to be not less than four clear days nor more than twenty days before the date of said public meeting on the issuance of said Bonds. Section 3. The notice of the proposed action to issue said Bonds shall be in substantially the following form: -3- NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $3,300,000 GENERAL OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF SAID CITY, AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the Council of the City of Dubuque, Iowa, will hold a public hearing on the 21 st day of October ,2002, at. 6:30 o'clock P.M., in the Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at which meetLng the Council proposes to take additional action for the issuance of not to exceed $3,300,000 General Obligation Bonds for an essential corporate purpose of said City, in order to provide fimds to pay costs of the acquisition, consmxcfion, improvement and equipping of waterworks and water main extensions, including water treatment plant facilities and water main extensions and improvements. At the above meeting the Council shall receive oral or written objections from any resident or property owner of said City, to the above action. After all objections have been received and considered, the Council will at this meeting or at any adjournment thereof, take additional action for the issuance of said Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the Council of Dubuque, Iowa, as provided by Section 384.25 of the City Code of Iowa. Dated this 8th day of October ,2002. Jeanne F. Schneider, City Clerk of Dubuque, Iowa (End of Notice) PASSED AND APPROVED this 7th day of October 2002. _______________________ Terrance M. Duggan, Mayor ATTEST: _________________________ Jeanne F. Schneider, City Clerk -5- CIG-3 9/91 CERTIFICATE STATE OF IOWA COUNTY OF DUBUQUE ) ) ss ) I, the undersigned City Clerk of Dubuque, lowa, do hereby certify that attached is a true and complete copy of the portion of the corporate records of said Municipality showing proceedings of the Council, and the same is a tree and complete copy of the action taken by said Council with respect to said matter at the meeting held on the date indicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way; that meeting and all action thereat was duly and publicly held in accordance with a notice of meeting and tentative agenda, a copy of which was timely served on each member of the Council and posted on a bulletin board or other prominent place easily accessible to the public and clearly designated for that purpose at the principal office of the Council (a copy of the face sheet of said agenda being attached hereto) pursuant to the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by said law and with members of the public present in attendance; I further certify that the individuals named therein were on the date thereof duly and lawfully possessed of their respective city offices as indicated therein, that no Council vacancy existed except as may be stated in said proceedings, and that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the City or the right of the individuals named therein as officers to their respective positions. WITNESS my hand and the seal of said Municipality hereto affixed this 8th dayof October,2002· /s/ Jeanne F. Schneider City Clerk, Dubuque, Iowa SEAL DCORlqELLX336584\ I \10422060 CIG-18 2-91 STATE OF IOWA ) ) SS COUNTY OF DUBUQUE ) I, the undersigned, do hereby certify that I am now and was at the times hereinafter mentioned, the duly qualified and acting Clerk of the City of Dubuque, in the County of Dubuque, State of Iowa, and that as such Clerk and by fi~ll authority from the Council of said City, I have caused a NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $3,300,000 GENERAL OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF SAID CITY, AND THE HEARING ON THE ISSUANCE THEREOF of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures a correct and complete copy, to be published as required by law in the Telegraph Herald, a legal newspaper published at least once weekly, printed wholly in the English language, published regularly and mailed through the post office of current entry for more than two years and which has had for more than two years a bona fide paid circulation recognized by the postal laws of the United States, and has a general circulation in the City, and that said Notice was published in said newspaper in all of the issues thereof published and circulated on the following date: ,2002 WITNESS my official signature Dubuque, Iowa, this day of ,2002. (SEAL) City Clerk DCORNELLk336585M \10422060 CIG-18 2-91 STATE OF IOWA ) )SS COUNTY OF DUBUQUE ) I, the undersigned, do hereby certify that I am now and was at the times hereinafter mentioned, the duly qualified and acting Clerk of the City of Dubuque, in the County of Dubuque, State of Iowa, and that as such Clerk and by full authority fxom the Council of said City, I have caused a NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $3,300,000 GENERAL OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF SA1D CITY, AND THE HEARING ON THE ISSUANCE THEREOF of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures a correct and complete copy, to be published as required by law in the Telegraph Herald, a legal newspaper published at least once weekly, printed wholly in the English language, published regularly and mailed through the post office of current entry for more than two years and which has had for more than two years a bona fide paid circulation recognized by the postal laws of the United States, and has a general circulation in the City, and that said Notice was published in said newspaper in all of the issues thereof published and circulated on the following date: ,2002 WITNESS my officialsignature at Dubuque, Iow~this ~2002. day of (SEAL) City Clerk DCOKNELLX336585~l \10422060 AHLERS, COONEY, DORWEILER, HAYNIE, SMITH & ALLBEE, P.C. AT[ORNEYS AT LAW 100 COURT AVENUE, SUITE 600 DES MOINES, IOWA 50309-2231 h ttp://www.ahlerslaw.com TELEPHONE 515 243-7611 TELECOPIER 515-243-2149 September 24, 2002 Ms. Pauline Joyce Administrative Services Manager City of Dubuque 50 W. 13th Street Dubuque, Iowa 52001-4864 RE: Not to exceed $3,300,000 General Obligation Bonds Dear Ms. Joyce: We have now prepared and are enclosing herewith suggested proceedings to be acted upon by the Council in fixing the date ora meeting on the proposition to issue the above mentioned Bonds and ordering publication of a notice of hearing consistent with the provisions of Code Section 384.25. Notice of this meeting must be published at least once in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in the City. The date of publication is to be not less than four clear days nor more than twent~ days before the date of said public meeting on the issuance of said Bonds. In computing time, the date of publication should be excluded. If the last 'day falls on Sunday, the whole of the following Monday should be excluded. Also enclosed is an extra copy of the proceedings to be filled in as the original and certified back to this office, together with publisher's affidavit of publication of notice of hearing. We are also enclosing an extra copy of the notice of hearing to be delivered to the newspaper for publication purposes. A certificate to attest the proceedings is also enclosed. At the time of hearing the Council shall receive oral or written objections from any resident or property owner to the proposed action to issue said Bonds. After all objections have been received and considered, the Council is required, at that meeting or at any adjournment thereof, to take additional action for the issuance of said Bonds or to abandon the proposal to issue said Bonds. September 24, 2002 Page 2 The Council is required by statute to adopt the resolution instituting proceedings to issue the Bonds at the heating--or an adjournment thereof. We will prepare and forward to you in the near future, suggested procedure to be acted upon on the date of hearing. If you have any questions pertaining to the proceedings enclosed or the above instructions, please do not hesitate to either write or call. Yours very truly, William J. Noth FOR THE FIRM WJN:dc encl. CC' Ken TeKippe (w/encl.) Dave Dirks (w/encl.) DCORNELL~336581 \I \10422060 MEMORANDUM October 1, 2002 TO:The Honorable Mayor and City Council Members FROM:Michael C. Van Milligen, City Manager SUBJECT:Bond Sale to Support Water Projects (New Water Tower and New Water Main Along Northwest Arterial) Finance Director Ken TeKippe is recommending the sale of General Obligation Bonds not to exceed $3,300,000 to support water projects which were included in the adopted Fiscal Year 2003 CIP budget, and that a public hearing be set for October 21, 2002. I concur with the recommendation and respectfully request Mayor and City Council approval. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director CITY OF DUBUQUE, IOWA MEMORANDUM TO:Michael C. Van Milligen, City Manager FROM:Kenneth J TeKippe, Finance Director SUBJECT: Bond Sale to Support Water Projects (New Water Tower and New Water Main along Northwest Arterial) DATE:September 30, 2002 The purpose of this memorandum is to recommend the sale of General Obligation Bonds to support water projects which were included in the adopted FY'03 CIP budget. Although we are selling General Obligation Bonds to support the project, repayment of the debt will be from water revenues. The date of publication is to be not less than four clear days nor more than twenty days before the date of said public meeting on the issuance of said Bonds. The requested action steps for City Council is to adopt the attached resolution fixing the date of October 21, 2002 for a public hearing on the proposition of selling not to exceed $3,300,000 in General Obligation Bonds (for an essential corporate purpose) of Dubuque, Iowa and providing for publication of notice thereof. KJT/jmg Attachments cc: Barry Lindahl Pauline Joyce Jeanne Schneider EXP PRIOR ESTIMATED TO FY 02 FY 92 $ $ $ $ PROJECT BUDGET A. EXPENDITUREITEMS Design & Engineering Land and R.O.W. Con,ruction Other TOTAL B, PROJECT FINANCING Watsr Depmciation Fund GO Bonds TOTAL BEYOND 2002-03 2003-04 2004-05 2005-06 2006-07 2007 $ 154,490 $ 1,776,635 $ 1,931,125 $ $ 31,125 $ 1,900,000 $ 1,931,125 $ $ $ $ PROJECT DESCRIPTION This project provides for installation of a 16-inch water main from Highway 20 north along the east side of the Northwest Arterial to John F. Kennedy Road, and then west on John F. Kennedy Road to the new water tower located at the soccer complex. JUSTIFICATION This project will dramatically increase fire flows and carrying capacity to the fourth pressure zone and industrial parks west of Radford Road. This project will serve as a main transmission line from the proposed elevated storage tank at the Soccer Complex. This project will be funded with a $1,500,000 General Obligation Bond Issue paid with water revenues. Debt service will require a 2% rate increase in Fiscal Year 2003, 2004 and 2006. RELATIONSHIP TO OTHER PROJECTS This project will improve flows into the fourth pressure zone and supply water to areas being developed west of town and will eliminate the need to do major improvements to the Asbury pump station. This project implements the Comprehensive Plan's Infrastructure Element: Goals 1.1, 1.2, 11.1, 11.7, and 11.9; and the Land Use and Urban Design Element: Goals 2.2 and 3.1. EXP PRIOR ESTIMATED TO FY 02 FY02 $ 735 $ 735 $ $ 735 $ 735 $ PROJECT BUDGET EXPENDITURE ITEMS Design & Engineering Land and R.O.W. Construction Other TOTAL B. PROJECT FINANCING GO Bonds TOTAL 2002-03 $ 200,000 $ 1,200,000 $ 1,400,000 $ 1,400,000 $ 1,400,000 2003-04 2005-06 2006-07 PROJECT DESCRIPTION This project has created a fourth pressure zone in the Water Distribution System. This improvement has successfolly provided adequate water pressure to areas of the City located in higher elevations. In Fiscal Year 2003 the project provides for a new one million gallon hydropillar water tower located on John F. Kennedy Road next to the ~occer complex. IUSTIFICATION The number of water users is increasing due to rapid expansion of the city on the west side. The new hydmpillar water tank will provide the necessary storage for reserve water capacity as well as extra capacity for fire protection. This project will be funded with a General Obligation bond issue of $1,400,000 in Fiscal Year 2003. The annual debt service on this issue will be financed with current water revenues plus a two percent rate increase in Fiscal Year 2003, 2004 and 2006. The rate increases will each generate an additional $70,000 in water fees to be used for debt service. RELATIONSHIP TO OTHER PROJECTS This project implements the Comprehensive Plan's Infrastructure Element: Goals 1.1, 1.2, and 1.3.