General Obligation Urban Renewal Bonds $2.5 MTHE CITY OF
DLTB E
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
Dubuque
AN-AmerlcaCi41
.,' .~
2007
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$2,500,000 General Obligation Urban Renewal Bonds for Greater
Downtown Urban Renewal District
DATE: December 15, 2009
Budget Director Jennifer Larson recommends that a public hearing be set for January 4,
2010 on the proposition of selling not to exceed $2,500,000 in General Obligation Urban
Renewal Bonds. The proceeds will be used to provide funds to pay 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 for the purposes of and used to pay costs of providing grants, loans and
other forms of financial assistance to private developers to assist in the rehabilitation of
existing buildings and the construction of housing development projects located
throughout the Greater Downtown Urban Renewal Area.
Although the City is selling General Obligation Bonds to support the projects, repayment
of the debt will be from the tax increment revenues generated within the Greater
Downtown Urban Renewal District.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Jennifer Larson, Budget Director
Kenneth J. TeKippe, Finance Director
THE CITY OF Dubuque
~~~ ~ AA-an~icaCi~
r
Masterpiece an the Mississippi
2007
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Budget Director AIL
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$2,500,000 General Obligation Urban Renewal Bonds for Greater
Downtown Urban Renewal District
DATE: December 15, 2009
The purpose of this memorandum is to recommend the setting of a public hearing on
the proposal to issue General Obligation Urban Renewal Bonds, the proceeds which will
be used to provide funds to pay 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 for the purposes of and used
to pay costs of providing grants, loans and other forms of financial assistance to private
developers to assist in the rehabilitation of existing buildings and the construction of
housing development projects located throughout the Greater Downtown Urban
Renewal Area.
The City Council previously held a public hearing and, by Resolution No. 459-09
approved on December 7, 2009, resolved to take additional action for the issuance of
General Obligation Urban Renewal Bonds, to the amount of $6,000,000, as authorized
by Sections 403.12 and 384.24(3)(q), of the Code of Iowa. Of this amount, $3,500,000
was intended for costs associated with the construction of street, stormwater, sanitary
sewer, water, fiber optic, parking and other public improvements in the Historic Millwork
Districts. The remaining amount of $2,500,000 was intended for the funding of grants,
loans, and other financial assistance to private developers to assist in rehabilitation of
existing buildings and construction of housing development projects in the Greater
Downtown Urban Renewal Area. However, Resolution No. 459-09 referred only to the
Millwork District, rather than the larger area of the Greater Downtown Urban Renewal
Area. The City has been advised by William Noth, Bond Counsel, to hold another public
hearing on the $2,500,000 to clarify that these bond proceeds could be used throughout
the entire Greater Downtown Urban Renewal Area. This $2,500,000 of Urban Renewal
Bonds therefore is not in addition to the $6,000,000 of General Obligation Urban
Renewal previously approved for additional action by Resolution No. 459-09.
Although we will be selling General Obligation Bonds to support the projects, repayment
of the debt will be from the tax increment revenues generated within the Greater
Downtown Urban Renewal District. 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 January 4, 2010 for a public hearing on the proposition of selling not to exceed
$2,500,000 in General Obligation Urban Renewal Bonds of Dubuque, Iowa and
providing for publication of notice.
JML
Enclosures
cc: Barry Lindahl, City Attorney
Ken TeKippe, Finance Director
Jeanne Schneider, City Clerk
AHLERS ~COONEY, P.C.
100 COURT AVENUE. SUITE 600
DES MOINES. IOWA 50309-2231
PHONE: 515-243-7611
FAX: 515-243-2149
WWW.AHLERSLAW.COM
William J. Noth
wnoth~ahlerslaw.com
December 11, 2009
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE: Not to exceed $2,500,000 General Obligation Urban Renewal Bonds
Dear Mr. TeKippe:
Direct Dial:
(515)246-0332
We have now prepared and are enclosing 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 Sections 403.12 and 384.24(3)(q).
The proposed Bonds are referred to in the proceedings as being part of, and not in
addition to, the not to exceed $6,000,000 General Obligation Urban Renewal Bonds,
additional action for the issuance of which was taken by the City Council under
Resolution No. 459-09 approved on December 7, 2009.
Notice of the 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 ten clear 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.
WISHARD Sr GAILY - i 1i88: GUERNSEY & GAILY - 1893; GAILY & STIPP - 1901; STIPP, PERRY, BANNISTER & STARZINGER - 1914; BANNISTER, CARPENTER,
AHLERS & GOONEY - 1950; AHLERS, GOONEY, DORWEILER, ALLBEE, HAYNIE 8i SMITH - 1974; AHLERS, GOONEY, DORWEILER, HAYNIE, SMITH &ALLBEE, P.C. - 1990
December 11, 2009
Page 2
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.
Very truly yours,
William J. Noth
WJN:dc
encl.
cc: Jenny Larson (w/encl.)
Jeanne Schneider (w/encl.)
WNOTH/ 640081.1 /MSWord
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of the City of Dubuque, Iowa.
Date of Meeting: December 21, 2009.
Time of Meeting: 6:30 o'clock P.M.
Place of Meeting: Historic Federal Building, 350 West 6th Street, Dubuque,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for the
meeting is as follows: -
Not to exceed $2,500,000 General Obligation Urban Renewal Bonds.
Resolution fixing date for a meeting on the proposition to issue.
Such additional matters as are set forth on the additional 9 page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of the governmental body.
ity Clerk, City of Dubuque, Iowa
December 22, 2009
The City Council of the City of Dubuque, Iowa, met in regular session, in the
Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on
the above date. There were present Mayor Roy D. Buol, in the chair, and the following
named Council Members:
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch,
David Resnick, Dirk Voetberg
Absent: None
****~~*
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Council Member Dirk Voetberg introduced the following Resolution entitled
"RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE
ISSUANCE OF NOT TO EXCEED $2,500,000 GENERAL OBLIGATION URBAN
RENEWAL BONDS (FOR URBAN RENEWAL PURPOSES) OF THE CITY OF
DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF", and moved that the same be adopted. Council Member Joyce Connors
seconded the motion to adopt. The roll was called and the vote was,
AYES: Braig, Buol, Connors, Jones, Lynch, Resnick,
Voetberg
NAYS: None
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION N0. 476-09
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$2,500,000 GENERAL OBLIGATION URBAN RENEWAL BONDS
(FOR URBAN RENEWAL PURPOSES) OF THE CITY OF
DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF
NOTICE THEREOF
WHEREAS, this Council previously has held a public hearing and, by Resolution
No. 459-09 approved on December 7, 2009, resolved to take additional action for the
issuance of General Obligation Urban Renewal Bonds, to the amount of not to exceed
$6,000,000, as authorized by Sections 403.12 and 384.24(3)(q), of the Code of Iowa, for
the purpose of providing funds to pay 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 Area, including those costs associated with the construction
of street, stormwater, sanitary sewer, water, fiber optic, parking and other public
improvements in the Historic Millwork District, and the funding of grants, loans and
other financial assistance to private developers to assist in rehabilitation of existing
buildings and construction of housing development projects in the Millwork District; and
WHEREAS, it is now deemed necessary and advisable that up to $2,500,000 of
such Bonds be designated for the purposes of and used to pay costs of providing grants,
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loans and other forms of financial assistance to private developers to assist in the
rehabilitation of existing buildings and the construction of housing development projects
located throughout the Greater Downtown Urban Renewal Area; and
WHEREAS, before the Bonds may be issued for such purposes, 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, and the right to petition
for an election thereon.
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 4th day of January, 2010, for the
purpose of taking action on the matter of the issuance of not to exceed $2,500,000
General Obligation Urban Renewal Bonds, for urban renewal purposes of the City, the
proceeds of which Bonds will be used to provide funds to pay 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 Area, including those costs
associated with the funding of grants, loans and other forms of financial assistance to
private developers to assist in the rehabilitation of existing buildings and the construction
of housing development projects located throughout the Greater Downtown Urban
Renewal Area.
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 ten clear 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:
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NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF
NOT TO EXCEED $2,500,000 GENERAL OBLIGATION URBAN RENEWAL
BONDS (FOR URBAN RENEWAL PURPOSES) OF THE CITY, AND THE
HEARING ON THE ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City Council of Dubuque, Iowa, will
hold a public hearing on the 4~' day of January, 2010, 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 $2,500,000 General
Obligation Urban Renewal Bonds, for urban renewal purposes of said City, in order to
provide funds to pay 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 Area, including those costs associated with the funding of grants, loans and
other forms of financial assistance to private developers to assist in the rehabilitation of
existing buildings and the construction of housing development projects located
throughout the Greater Downtown Urban Renewal Area. The Bonds to be issued for
such purposes shall be part of, and not in addition to, the not to exceed $6,000,000
General Obligation Urban Renewal Bonds, additional action for the issuance of which
was taken by the City Council under Resolution No. 459-09 approved on December 7,
2009.
At any time before the date of the meeting, a petition, asking that the question of
issuing such Bonds be submitted to the legal voters of the City, may be filed with the
Clerk of the City in the manner provided by Section 362.4 of the Code of Iowa, pursuant
to the provisions of Sections 384.24(3)(q) and 384.26 of the Code of Iowa.
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 Sections 403.12 and 384.24(3)(q) of the City Code of Iowa.
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Dated this 23rd day of December, 2009.
City Clerk, City of Dubuque, Iowa
(End of Notice)
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PASSED AND APPROVED this 21st day of December, 2009.
ATTEST:
~/
ity Clerk
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CERTIFICATE
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
I, the undersigned City Clerk of the City of Dubuque, 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.
WI SS my hand and the seal of the City hereto affixed this "~ ~ day of
2009.
ity Clerk, City of Dubuque, Iowa
(SEAL)
WNOTH/640044.1 /MSWord
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