General Obligation Bonds for Refunding Bonds $9.5 mTHE CITY OF Dubuque
DLTB- E A~~~~~
1 i
Masterpiece on the Mississippi
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,500,000 General Obligation Bonds for Refunding Bonds
DATE: September 1, 2009
Finance Director Ken TeKippe recommends that a public hearing be set for
September 21, 2009 on the proposition of selling not to exceed $9,500,000 in General
Obligation Bonds. The proceeds of these bonds will be used to provide funds to pay
costs of refunding and refinancing of certain City indebtedness, including General
Obligation Bonds, Series 2001, dated December 15, 2001, and the General Obligation
Bonds, Series 2002, dated December 15, 2001 (America's River Project Bond issue).
The refunding is estimated to save the City $60,000 interest annually.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
ichael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
THE crr~r of Dubuque
T TR
D V 1J E A~-AmericaC~y
Masterpiece on the Mississippi
2007
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director "~ ~~ v~ ~~~'
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,500,000 General Obligation Bonds for Refunding Bonds
DATE: September 1, 2009
The purpose of this memorandum is to recommend the setting of a public hearing on
the proposal to issue General Obligation Bonds, Series 2009, the proceeds of which
Bonds will be used to provide funds to pay costs of refunding and refinancing of certain
City indebtedness, including the General Obligation Bonds, Series 2001, dated
December 15, 2001, and the General Obligation Bonds, Series 2002, dated December
15, 2001 (America's River Project Bond Issue). The refunding is estimated to save the
City $60,000 interest annually. A letter from attorney William Noth detailing information
on the bond hearing is enclosed.
The requested action step for City Council is to adopt the attached resolution fixing the
date of September 21, 2009 for a public hearing on the proposition of selling not to
exceed $9,500,000 in General Obligation Bonds (for an essential corporate purpose) of
Dubuque, Iowa and providing for publication of notice.
KJT/jmg
Enclosures
cc: Barry Lindahl, City Attorney
Jenny Larson, Budget Director
Jeanne Schneider, City Clerk
AHLERS ~COON~Y, P.C.
100 COURT AVENUE, SUITE 6D0
DES MOINES. IOWA 50309-2231
PHONE: 515-243-7611
FAX:615-243-2149
WWW.AHLERSLAW.COM
WILLIAM J. NOTH
wnolh~ahlerslaw.com
September 1, 2009
BY OVERNIGHT DELIVERY
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE: Not to exceed $9,500,000 General Obligation Refunding Bonds
Dear Mr. TeKippe:
Direct Dial:
(515)246-0332
We have now prepared and are enclosing herewith suggested proceedings to be
acted upon by the Council in fixing the date of a meeting on the proposition to issue the
above mentioned 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 twenty days before the date of said public meeting on the issuance of
said Bonds. In co><nputing tune, 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.
WISHARD & GAILY- 1888;GUERNSEY & GAILY - 1893: GAILY & STIPP - 1901 : STIPP. PERRY. BANNISTER & STARZINGER - 191 L: BANNISTER, CARPENTER,
AHLERS & GOONEY - 19$0: AHLERS, GOONEY. DORWEILER, ALLBEE, HAYNIE 8~ SMITH - 1974: AHLERS, GOONEY, DORWEILER, HAVNIE. SMITH &ALLBEE, P. C. - 1990
September 1, 2009
Page 2
At the tune 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.
The Council is required by statute to adopt the resolution instituting proceedings to
issue the Bonds at the hearing--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
WJN:dc
encl.
cc: Jenny Larson (w/encl.)
Barry Lindahl (w/encl.)
DCORNELL/ 629517.1 /MSWord\10422.092
.. ~' ~. C ~ ~ U ~ ~ ~ti .~~.
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
wv~rnmental Body
Date of Meeting:
Time of Meeting:
Place of Meeting
The City Council of the City of Dubuque, Iowa.
2009.
o'clock .M.
Historic Federal Building, 350 West 6th Street, Dubuque,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for the
meeting is as follows:
Not to exceed $9,500,000 General Obligation Refunding Bonds, Series 2009.
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 2 I, Code of
Iowa, and the local rules of the governmental body.
City Clerk, City of Dubuque, State of Iowa
, 2009
The Lity Council of the City of Dubuque, Iowa, met in _ session,
'~ t~ ~'` ~.~ Federal Building, 350 West 6th Street, Dubuque, Iowa, at
.~'~.... E. ___.M., on the above date. There were present Mayor _ , in
the chair, and the following named Council Members:
Absent:
***~***
1
Council Member Kevin Lynch introduced the following Resolution entitled
"RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE
ISSUANCE OF NOT TO EXCEED $9,500,000 GENERAL OBLIGATION REFUNDING
BONDS, SERIES 2009, (FOR AN ESSENTIAL CORPORATE PURPOSE) OF THE
CITY OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF", and moved that the same be adopted. Council Member Ric Jones
seconded the motion to adopt. The roll was called and the vote was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick, Voetberg
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 329-09
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$9,500,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES
2009, (FOR AN ESSENTIAL CORPORATE PURPOSE) OF THE CITY
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 Refunding Bonds, Series 2009, to the amount of
not to exceed $9,500,000, 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 the Bonds may be issued, it is necessary to comply with the
provisions of the 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 the City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That this Council meet in the Historic Federal Building, 350 West 6th
Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the 21Stday of September, 2009, for the
purpose of taking action on the matter of the issuance of not to exceed $9,500,000
General Obligation Refunding Bonds, Series 2009, for an essential corporate purpose
of the City, the proceeds of which Bonds will be used to provide funds to pay costs of
refunding and refinancing of certain City indebtedness, including the General Obligation
2
Bonds, Series 2001, dated December 15, 2001, and the General Obligation Bonds,
Series 2002, dated December 15, 2001.
Section 2. That the Clerk is hereby directed to cause at least one publication to
be made of a notice of the meeting, in a legal newspaper, printed wholly in the English
language, published at least once weekly, and having general circulation in the City.
The publication to be not less than four clear days nor more than twenty days before the
date of the public meeting on the issuance of the Bonds.
Section 3. The notice of the proposed action to issue the Bonds shall be in
substantially the following form:
3
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF DUBUQUE,
IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO
EXCEED $9,500,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES
2009, (FOR AN ESSENTIAL CORPORATE PURPOSE) OF THE CITY, AND
THE HEARING ON THE ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City of Dubuque, Iowa, will hold a
public hearing on the 21St day of September, 2009, at 6:30 o'clock P.M., in the Historic
Federal Building, 350 West 6th Street, Dubuque, Iowa, at which meeting the Council
proposes to take additional action for the issuance of not to exceed $9,500,000 General
Obligation Refunding Bonds, Series 2009, for an essential corporate purpose of said
City, in order to provide funds to pay costs of refunding and refinancing of certain City
indebtedness, including the General Obligation Bonds, Series 2001, dated December
15, 2001, and the General Obligation Bonds, Series 2002, dated December 15, 2001.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City, to the above action. After all objections have
been received and considered, the Council will at this meeting or at any adjournment
thereof, take additional action for the issuance of Bonds or will abandon the proposal to
issue Bonds.
This notice is given by order of the City Council of the City of Dubuque, Iowa, as
provided by Section 384.25 of the City Code of Iowa.
Dated this 11t" day of September, 2009.
City Clerk, City of Dubuque, Iowa
(End of Notice)
4
PASSED AND APPROVED this 8t" day of September, 2009.
~~ ~_~
/' 1~~ ,l~ ~/
/ Roy D. Bu®I, Mayor
Attest:
:~ /
eanne F. Schneider, CMC
City Clerk
5
CERTIFICATE
STA"I'E C)F IOWA )
} SS
~;u ~ 1 ~ ~ ~ ~~ DUBUQUE )
I, the undersigned City Clerk of the City of Dubuque, State of Iowa, do hereby
certify that attached is a true and complete copy of the portion of the corporate records of
the City showing proceedings of the City Council, and the same is a true and complete
copy of the action taken by the Council with respect to the 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 the 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 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 the 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 the City hereto affixed this day of
.2009.
City Clerk, City of Dubuque, State of Iowa
(SEAL)
DCORNELll 629514.1 /MSWord\10422.092
v ~~`~i~Yil ~~~
CERTIFICATE
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 from the
Council of the City, I have caused a
NOTICE OF MEETING OF THE CITY COUNCIL OF THI CITY OF
DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED
ISSUANCE OF NOT TO EXCEED $9,500,000 GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2009, OF 1'HE CITY
OF DUBUQUE, 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 the Notice v~~as published
in all of the issues thereof published and circulated on the following date:
2009.
WITNESS my official signature at Dubuque, Iowa, this day of
.2009.
City Clerk, City of Dubuque, State of Iowa
(SEAL)
DCORNELL/629516.1 /MSWord\10422.092