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G.O. Bonds Stormwater BondsMEMORANDUM August12,2003 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager Proceedings for Public Hearing on the Issuance of General Obligation Bonds The public hearing for the issuance of General Obligation Bonds for Stormwater projects is set for August 18, 2003. Finance Director Ken TeKippe is providing information on the suggested proceedings for the public hearing on the issuance of General Obligation Bonds for Stormwater projects. The bond sale date will be September 15, 2003. I respectfully recommend adoption of the "Resolution Instituting Proceedings to Take Additional Action for the Issuance of Not to Exceed $2,110,000 General Obligation Bonds." Michael C. Van Milligen MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director MEMORANDUM August12,2003 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager Proceedings for Public Hearing on the Issuance of General Obligation Bonds The public hearing for the issuance of General Obligation Bonds for Stormwater projects is set for August 18, 2003. Finance Director Ken TeKippe is providing information on the suggested proceedings for the public hearing on the issuance of General Obligation Bonds for Stormwater projects. The bond sale date will be September 15, 2003. M~chael 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: FROM: SUBJECT: Michael C. Van Milligen, City Manager Kenneth J. TeKippe, Finance Director ~(/~.~.~,/~, Proceedings for Public Hearing on the Issuance of General Obligation Bonds DATE: August 7, 2003 The purpose of this memorandum is to provide the suggested proceedings for the public hearing on the issuance of General Obligation Bonds for Stormwater projects as prepared by our Bond Counsel and to present a resolution for City Council to adopt entitled "Resolution Instituting Proceedings to Take Additional Action for the Issuance of Not to Exceed $2,110,000 General Obligation Bonds." The proceedings have been prepared on the basis that no objections will be filed with the City Clerk. If there are objections, we will need to summarize them. The Mayor will then declare the hearing on the issuance of said Bonds to be closed. Immediately following, a resolution is to be introduced and adopted entitled "Resolution Instituting Proceedings to Take Additional Action for the Issuance of Not to Exceed $2,110,000 General Obligation Bonds." In the event the Council decides to abandon the proposal to issue said Bonds, then the form of resolution included in said proceedings should not be adopted. In this event, a motion needs to be adopted to the effect that such Bond proposal is abandoned. Section 384.25 of the Code of Iowa provides that any resident or property owner of the City may appeal the decision to take additional action to issue the Bonds, to the District Court of a county in which any part of the City is located, within 15 days after such additional action is taken, but that the additional action is final and conclusive unless the court finds that the Council exceeded its authority. Bond Counsel William Noth has also prepared suggested proceedings to direct the advertisement of Bonds for sale, in the principal amount of $2,110,000 and to approve the form of Notice of Bond Sale (attached). Under the schedule proposed, these proceedings should be considered following the public hearings and adoption of the resolutions taking additional action, with the sale date set for September 15, 2003. KT/jg Attachments cc: Barry Lindahl, Corporation Counsel Pauline Joyce, Administrative Services Manager Jeanne Schneider, City Clerk (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: Date of Meeting: Time of Meeting: Place of Meeting: The City Council of Dubuque, Iowa. August 18 ., 2003. 6:30 o'clock P.M. Auditorium, Carnegie-Stout Public Library, 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 said meeting is as follows: $2,110,000 General Obligation Bonds, Series 2003 · Resolution directing the advertisement for sale. Such additional matters as are set forth on the additional 9 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 roles of said governmental body. Jeanne F. Schneider, CMC ~City Clerk, Dubuque, Iowa August 19 .,2003 The City Council of Dubuque, Iowa, met in Requl ar Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at __ the above date. There were present Mayor Pro-Tern C 1 i ne following named Council Members: session, in the 6:30 o'clock P~.M., on , in the chair, and the Buol, Connors, Markham, Michalski, Nicholson Absent: Mayor Duggan -1- Council Member Markham introduced the following Resolution entitled "RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $2,110,000 GENERAL OBLIGATION BONDS, SERIES 2003" and moved its adoption. Council Member Connors seconded the Resolution to adopt. The roll was called and the vote was, Buol, Cline, Connors, Markham, Michalski, Nicholson NAYS: None Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO. 289-03 RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $2,110,000 GENERAL OBLIGATION BONDS, SERIES 2003 WHEREAS, the City of Dubuque, Iowa, is in need of funds to pay costs of the acquisition, construction, and installation of stormwater and storm sewer utility facilities and improvements, including the Carter Detention Basin, 32nd Street Detention Basin land acquisition, stormwater ditch remediation, NPDES compliance activities, and other storm sewer, stream bank and detention basin improvements, an essential corporate purpose project, and it is deemed necessary and advisable that the City issue general obligation bonds for said purpose to the amount of not to exceed $2,110,000 as authorized by Section 384.25 of the City Code of Iowa; and WHEREAS, pursuant to notice published as required by Section 384.25 this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of the above described Bonds, and all objections, if any, to such Council action made by any resident or property owner of said City were received and considered by the Council; and it is the decision of the Council that additional action be taken for the issuance of said Bonds, and that such action is considered to be in the best interests of said City and the residents thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the Bonds hereinafter described be offered at public sale, pursuant to advertisement as required by law. Section 2. That the Clerk is hereby directed to publish notice of sale of said Bonds at least once, the last one of which shall be not less than four clear days nor more than twenty days before the date of the sale. Publication shall be made in the Telegraph Herald, a legal newspaper, printed wholly in the English language, published within the county in which the Bonds are to be offered for sale or an adjacent county. Said notice is given pursuant to Chapter 75 of the Code of Iowa, and shall state that this Council, on the 15th dayof September ,2003, at 6:30o'clockp. M., will hold a meeting to receive and act upon bids for said Bonds; said notice to be in substantially the following form: -3- NOTICE OF BOND SALE Time and Place of Sealed Bids: Sealed bids for the sale of Bonds of the City of Dubuque, Iowa, will be received at the office of the Finance Director, City Hall, 50 West 13th Street, in the City of Dubuque, Iowa (the "Issuer") at ~ 1: 00 o'clock ^ .M., on the 15th day of Septembe ~ 2003. The bids will then be publicly opened and referred for action to the meeting of the City Council as stated below. Sale and Award: The sale and award of the Bonds will be held at the Auditorium, Carnegie-Stout Public Library at a meeting of the City Council on the above date at 6:30 o'clock p .M. The Bonds: The Bonds to be offered are the following: GENERAL OBLIGATION BONDS, SERIES 2003, in the mount of $2,110,000, to be dated October 1, 2003 (the "Bonds"). Official Statement: The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The Official Statement may be obtained by request addressed to the City Clerk, 50 W. 13th Street, Dubuque, Iowa 52001 (telephone: 563/589-4100) or the financial advisor to the City, Public Financial Management, Inc., 2600 Grand Avenue, Des Moines, Iowa 50312 (telephone: (515)243-2600). Terms of Offering: All bids shall be in conformity with and the sale shall be in accord with the Terms of Offering as set forth in the Official Statement. Legal Opinion: Said Bonds will be sold subject to the opinion ofAhlers & Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together with the printed Bonds without cost to the purchaser and alt bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the Bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or marketing of the Bonds. Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public. -4- By order of the City Council of the City of Dubuque, Iowa. /s/ Jeanne F. Schneider, CMC City Clerk of the City of Dubuque, Iowa (End of Notice) -5- PASSED AND APPROVED this 18th dayof Auqust Patricia A. Cline Mayor Pro-Tem ATTEST: Jeanne F. Schneider, City Clerk ,2003. -6- CIG-3 9/91 CERTIFICATE STATE OF IOWA COUNTY OF DUBUQUE ) ) ss ) I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is a tree 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. WlT15JESS~my hand and the seal affixed this 19th day of August ,2003. of said Municipality hereto /~¢~/~ day of Jeanne F. Schneider, City Clerk Dubuque, Iowa - SEAL DCORNELLX365461 \1 \I 0422062 -7- (This Notice to be posted) NOTICE AND CALL OF PUBLIC MEETING Governmental Body: Date of Meeting: Time of Meeting: Place of Meeting: The City Council of Dubuque, Iowa. August 18 ., 2003. 6:30 o'clock P.M. Auditorium, Carnegie-Stout Public Library, 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 said meeting is as follows: Not to exceed $2,110,000 General Obligation Bonds. Public heating on the issuance. Resolution instituting proceedings to take additional action. Such additional matters as are set forth on the additional 9 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. Jeanne F. Schneider, City Clerk, Dubuque, Iowa August 19 ,2003 The City Council of Dubuque, Iowa, met in Regul ar 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 Pro-Tern C1 i ne , in the chair, and the following named Council Members: Roy Buol, Joyce Connors, John Markham, Ann Michalski, Dan Nicholson Absent: Mayor Terry Duggan -1- The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the issuance of not to exceed $2,110,000 General Obligation Bonds in order to provide funds to pay costs of the acquisition, construction, and installation of stormwater and storm sewer utility facilities and improvements, including the Carter Detention Basin, 32nd Street Detention Basin land acquisition, stormwater ditch remediation, NPDES compliance activities, and other storm sewer, stream bank and detention basin improvements, an essential corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the issuance of said Bonds, had been published pursuant to the provisions of Section 384.25 of the City Code of Iowa. The Mayor then asked the Clerk whether any written objections had been filed by any City resident or property owner to the issuance of said Bonds. The Clerk advised the Mayor and the Council that Ho written objections had been filed. The Mayor then called for oral objections to the issuance of said Bonds and ~1o were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed. (Attach here a summary of objections received or made, if any) -2- The Council then considered the proposed action and the extent of objections thereto. Whereupon, Council Member Markham introduced and delivered to the Clerk the Resolution hereinafter set out entitled '"RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $2,110,000 GENERAL OBLIGATION BONDS", and moved: that the Resolution be adopted. to ADJOURN and defer action on the Resolution and the proposal to institute proceedings for the issuance of Bonds to the meeting to be held at o'clock__.M, on the day of ,2003, at this place. Council Member called and the vote was, Connors seconded the motion. The roll was AYES: Buol, Cline, Connors, Markham, Michalski, Nicholson NAYS: None Whereupon, the Mayor declared the measure duly adopted. RESOLUTION NO. 288-03 RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $2,110,000 GENERAL OBLIGATION BONDS WHEREAS, pursuant to notice published as required by law, this Council has held a public meeting and heating upon the proposal to institute proceedings for the issuance of not to exceed $2,110,000 General Obligation Bonds for the essential corporate purpose of paying costs of the acquisition, construction, and installation of stormwater and storm sewer utility facilities and improvements, including the Carter Detention Basin, 32nd Street Detention Basin land acquisition, stormwater ditch remediation, NPDES compliance activities, and other storm sewer, stream bank and detention basin -3- improvements, and 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 take additional action for the sale and issuance in the manner required by law of not to exceed $2,1 t 0,000 General Obligation Bonds for the foregoing essential corporate purpose. Section 2. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2, because the City reasonably expects to reimburse with the proceeds of the Bonds, all or a portion of original expenditures incurred in connection with the above purpose. Section 3. The Clerk is authorized and directed to proceed on behalf of the City with the sale of said Bonds, to select a date for the sale thereof, 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. PASSED AND APPROVED this 18th day of August 2003. Patricia A. Cline, Mayor Pro-Tem ATTEST: Jeanne F. Schneider, City Clerk CIG-3 9/91 CERTIFICATE STATE OF IOWA COUNTY OF DUBUQUE ) ) ss ) I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is a tree and complete copy of the portion of the corporate records of said Municipality showing proceedings of the Council, and the same is a true 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 roles 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. WlTN SS my hand and the seal of said Municipality hereto affixed this 19th day of August ,2003. Jeanne F. Schneider, City Clerk, Dubuque, Iowa SEAL DCORNELL~365460\l\10422062 -5-