10 12 10 City Council Proceedings Official_Special
CITY OF DUBUQUE, IOWA
CITY COUNCIL PROCEEDINGS
OFFICIAL
The Dubuque City Council met in Special Session at 5:00 p.m. on October 12, 2010,
in Conference Room B of City Hall.
Present: Mayor Buol, Council Members, Braig, Connors, Jones, Lynch, Resnick, City
Manager Van Milligen
Absent: Council Member Voetberg
Mayor Buol read the call and stated this is a special session of the City Council
called to act upon such business that may properly come before the City Council.
44 Main, LLC – Development Agreement: City Manager recommending that a public
hearing be set for October 18, 2010 to consider a proposed Development Agreement
for property located at 44 Main Street and the issuance of not to exceed $350,000
Urban Renewal Tax Increment Revenue Bonds. Motion by Connors to receive and file
the documents and adopt Resolution No. 395-10 Fixing date for a meeting on the
proposition of the issuance of not to exceed $350,000 Urban Renewal Tax Increment
Revenue Notes of Dubuque, Iowa, and providing for publication of notice thereof was
adopted setting a public hearing for a meeting to commence at 6:30 p.m. on October
18, 2010 in the Historic Federal Building. Seconded by Braig. Motion carried 6-0.
RESOLUTION 395-10
RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE
ISSUANCE OF NOT TO EXCEED $350,000 URBAN RENEWAL TAX INCREMENT
REVENUE NOTES 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 Urban Renewal Tax Increment Revenue Notes to the amount of not to
exceed $350,000, as authorized by Section 403.9 of the Code of Iowa, for the purpose
of providing funds to pay costs of carrying out a project as hereinafter described; and
Whereas, Section 403.9 sets forth the procedural action required to be taken before
said Urban Renewal Tax Increment Revenue Notes may be issued, and it is therefore
necessary that the action hereinafter described be taken and that the Clerk publish a
notice of the proposal and of the time and place of the meeting at which the Council
proposes to take action thereon and to receive oral and/or written objections from any
resident or property owner of said 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
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Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the 18 day of October, 2010, for the
purpose of taking action on the matter of the issuance of not to exceed $350,000 Urban
Renewal Tax Increment Revenue Notes, the proceeds of 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 with the funding of economic
development grants and loans to 44 Main, LLC, an Iowa limited liability company, under
the terms of a Development Agreement between the City of Dubuque and 44 Main,
LLC, as the same may be amended from time to time, and the funding of related
reserves and payment of capitalized interest and the costs of issuance of the Notes.
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 obligations.
Section 3. The notice of the proposed action to issue said Urban Renewal Tax
Increment Revenue Notes shall be in substantially the [provided] form.
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Passed and approved this 12 day of October, 2010.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
There being no further business, upon motion the City Council adjourned at 5:01
p.m.
/s/Jeanne F. Schneider, CMC
City Clerk