Historic Pres Loan $200,000
DU~-@uE
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MEMORANDUM
January 11, 2005
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: Ratifying Former Action Approving $200,000 General Obligation Capital
Loan Note for Historic Preservation Revolving Loan Fund
On December 20, 2004, the City Council held a public hearing and approved a
$200,000 General Obligation Capital Loan Note for the Historic Preservation Revolving
Loan Fund. This note will finance an offer by Premier Bank to provide $200,000 to the
City of Dubuque for 10 years, interest free, for the Historic Preservation Revolving Loan
Fund.
Bill Noth, the City's bond counsel, has notified the City that the incorrect notice was
published for the public hearing.
Planning Services Manager Laura Carstens recommends that the City Council ratify
their former action approving the Loan Agreement and $200,000 General Obligation
Capital Loan Note, and that a public hearing be set for February 7, 2005.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
/lLLcL{1;~! /LlIL-
Micl'Íael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Laura Carstens, Planning Services Manager
D~
~<k~
MEMORANDUM
January 11, 2005
TO:
FROM:
Michael Van Milligen, City Manager
Laura Carstens, Planning Services Manager .~
RE:
Ratifying Fonner Action Approving $200,000 General Obligation
Capital Loan Note for Historic Preservation Revolving Loan Fund
This memorandum requests that the City Council again hold a public hearing on a
previously-approved $200,000 General Obligation Capital Loan Note for the Historic
Preservation Revolving Loan Fund. This note will finance an offer by Premier Bank to
provide $200,000 to the City of Dubuque for 10 years, interest free, for the Historic
Preservation Revolving Loan Fund. The City Council approved authorization of a Loan
Agreement and issuance of the General Obligation Capital Loan Note for the Historic
Preservation Revolving Loan Fund at a public hearing on December 20, 2004.
Corporation Counsel Barry Lindahl has informed me that our bond counsel, Bill Noth,
has discovered that the notice that was published for the public hearing was not the
revised notice he sent. The original form of notice (prepared when we thought this
would be a tax increment revenue obligation) apparently was published, rather than the
revised version (relating to the general obligation capital loan note). There are a lot of
similarities, but notice of the right to petition for an election on the proposal was not part
of the notice that was published. Mr. Noth recommends we republish the correct notice
and have the City Council ratify the former action. Attached are the revised documents.
The City Council is asked to set a public hearing for approval of the Loan Agreement
and $200,000 General Obligation Capital Loan Note for February 7, 2005, and to ratify
the former action.
Enclosures
cc
Jeffrey Mozena, President/CEO, Premier Bank
Scott Dalsing, Vice President Commercial Lender, Premier Bank
David Stuart, Chairperson, Historic Preservation Commission
Barry Lindahl, Corporation Counsel
Dawn Lang, Budget Director
Kenneth TeKippe, Finance Director
Joleen Patterson, Housing Rehabilitation Supervisor
'"
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#
AHLERS ~COONEY, P.C.
ATTORNEYS AHAW
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
Direct Dial,
1515)246-0332
January 3, 2005
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE:
$200,000 General Obligation Capital Loan Note
(Historic Preservation Loan Fund)
Dear Mr. TeKippe:
With this letter I am enclosing suggested proceedings directing the republication of
notice of a public hearing concerning issuance of the above Note, as well as proceedings
ratifying the prior action to authorize issuance of the Note. These proceedings have been
prepared to eliminate any question as to whether the prior notice of hearing substantially
complied with the requirements onowa law.
As before, the form of notice included in the proceedings directing republication of
the same 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 10 clear days before the date of said
public meeting on the issuance ofthe Note. 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.
The proceedings ratifying the prior action have been prepared on the basis that no
petition will be filed with the City Clerk, asking that the question of issuing the Notes be
submitted to the qualified electors of the City. Assuming that to be the case, these
proceedings document that the hearing was held and that no petition had been filed. The
proceedings then ratify the provisions of Resolution Nos. 485-04 and 486-04, approved
on December 20, 2004.
WISHARD' BAILY- 1888, GUERNSEY' BAILY- 1893, BAILY' STIPP - 1901, STIPP. PERRY. BANNISTER' SYARZINGER -1914, BANNISTER. CARPE""R.
AHLERS' CDDNEY-I950, AHLERS. CDDNEY. DDRWEILER. ALLBEE. HAYNIE' SNI11< -1974, AHLERS. CDDNEY. DORWEILER. HAYNIE. SMITH' ALLBEE. P.C. - 1990
January 3, 2005
Page 2
If a valid petition is filed, please notify me so that the enclosed proceedings can be
revised to cover the action taken by the Council in either declaring the proposal to issue
the Notes to have been abandoned or the directions of the Council to the County
Commissioner to call a special election upon the question of issuing the Notes.
Extra copies of the proceedings are enclosed to be completed as the originals and
returned to us for our transcript of the action taken. If you have any questions, please
don't hesitate to call.
Yours very truly,
~
William J. Noth
WJN:dc
encl.
cc:
Barry Lindahl (w/encl.)
DCORNELL\437485.1 IWPII 0422069
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body:
The City Council of Dubuque, Iowa.
Date of Meeting:
,2005.
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 will meet at the date, time and place above set out. The tentative agenda for said
meeting is as follows:
$200,000 General Obligation Capital Loan Note.
Resolution directing republication of notice 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
,2005
The City Council of Dubuque, Iowa, met in session, in the
Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at - o'clock _.M., on
the above date. There were present Mayor , in the chair,
and the following named Council Members:
Absent:
*******
-1-
Council Member introduced the following Resolution
entitled "RESOLUTION DIRECTING REPUBLICATION OF NOTICE OF HEARING
ON THE PROPOSITION OF THE ISSUANCE OF A $200,000 GENERAL
OBLIGATION CAPITAL LOAN NOTE OF DUBUQUE, IOWA", and moved that the
same be adopted. Council Member seconded the motion to
adopt. The roll was called and the vote was,
AYES:
NAYS:
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION DIRECTING REPUBLICATION OF NOTICE OF
HEARING ON THE PROPOSITION OF THE ISSUANCE OF A $200,000
GENERAL OBLIGATION CAPITAL LOAN NOTE OF DUBUQUE,
IOWA
WHEREAS, this City Council has previously held a public hearing and taken
action with respectto the issuance of a General Obligation Capital Loan Note to the
amount of $200,000, as authorized by Section 384.24A and 384.26(5) of the Code of
Iowa, for the purpose of providing funds to pay costs of carrying out a general corporate
project as hereinafter described; and
WHEREAS, the published notice of said hearing may not have substantially
complied with the foregoing statutory requirements, and it is therefore appropriate that
a new notice of the proposal and of the time and place of the meeting at which the
Council proposes to take action for the authorization of the Loan Agreement and Note be
published, and that the Council receive oral and/or written objections from any resident or
property owner of the City to such action and any petition for an election on said
proposal.
-2-
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section I. That this Council meet in the Auditorium, Carnegie-Stout Public
Library, Dubuque, Iowa, at o'clock _.M., on the - day of
,2005, for the purpose of receiving objections or petitions on the
matter of the issuance of a $200,000 General Obligation Capital Loan Note, the proceeds
of which will be used to provide funds to pay costs of funding the City's Historic
Preservation Revolving Loan Fund and the making ofloans to property owners in
designated historic preservation districts or who own a City designated landmark for
exterior rehabilitation projects.
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 ten clear 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 General Obligation
Capital Loan Note 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 A $200,000 GENERAL OBLIGATION CAPITAL LOAN
NOTE 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 - day of , 2005, at - o'clock
_.M., in the Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at which
meeting the Council proposes to take additional action for the issuance of a $200,000
General Obligation Capital Loan Note in order to provide funds to pay costs of funding
the City's Historic Preservation Revolving Loan Fund and the making ofIoans to property
owners in designated historic preservation districts or who own a City designated
landmark for exterior rehabilitation projects.
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 authorization of a Loan Agreement and the issuance of a
Note to evidence the obligation of the City thereunder or will abandon the proposal.
At any time before the date of said meeting, a petition, asking that the question of
issuing such Note be submitted to the legal voters of said City, may be filed with the
Clerk of said City in the manner provided by Section 362.4 of the City Code onowa,
pursuant to the pro~isions of Section 384.26(5) of the City Code onowa.
This Notice is given by order of the Council of Dubuque, Iowa, as provided by
Sections 384.24A and 384.26(5) of the City Code onowa, as amended.
Dated this - day of
,2005.
City Clerk of Dubuque, Iowa
(End of Notice)
-4-
PASSED AND APPROVED this - day of
Mayor
ATTEST:
City Clerk
-5-
,2005.
CIG-3
9/91
CERTIFICATE
STATE OF IOWA
)
) SS
)
COUNTY OF DUBUQUE
I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings ofthe 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 rules of the Council and the provisions of
Chapter 21, Code ofIowa, 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
day of ,2005.
City Clerk, Dubuque, Iowa
SEAL
DCORNELLI43 7486.1 I WPII0422069
-6-
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 onowa, and that as such Clerk and by full 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 A $200,000 GENERAL OBLIGATION CAPITAL LOAN
NOTE 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:
,2005
WITNESS my official signature at Dubuque, Iowa, this
,2005.
day of
City Clerk
(SEAL)
DCORNELL1429800.1 I WPII0422000
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governrnental Body:
The City Council of Dubuque, Iowa.
Date of Meeting:
,2005.
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 will meet at the date, time and place above set out. The tentative agenda for said
meeting is as follows:
$200,000 General Obligation Capital Loan Note
Public hearing on the authorization of a Loan Agreement and the
issuance of a Note to evidence the obligation of the City thereunder.
Resolution ratifying prior proceedings to take additional action.
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
,2005
The City Council of Dubuque, Iowa, met in
Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at
on the above date. There were present Mayor
the following named Council Members:
session, in the
o'clock _.M.,
, in the chair, and
Absent:
********
-1-
The Mayor announced that this was the time and place for the public hearing and
meeting on the matter of the authorization of a Loan Agreement and the issuance of
$200,000 General Obligation Capital Loan Notes, in order to provide funds to pay costs
of funding the City's Historic Preservation Revolving Loan Fund and the making ofloans
to property owners in designated historic preservation districts or who own a City
designated landmark for exterior rehabiJitation projects, a general corporate purpose, and
that notice of the proposed action by the Council to institute proceedings for the
authorization of the Loan Agreement and the issuance of the Notes and the right to
petition for an election, had been published pursuant to the provisions of Sections
384.24A and 384.26(5) of the City Code onowa, as amended.
The Mayor then asked the Clerk whether any petition had been filed in the Clerk's
Office, as contemplated in Section 384.26 of the City Code onowa, and the Clerk
reported that no such petition had been filed, requiring that the question of issuing the
notes be submitted to the qualified electors of the City.
Whereupon, the Mayor declared the hearing on the authorization of entering into a
loan agreement and the issuance of notes to be closed.
Whereupon, Council Member introduced and
delivered to the Clerk the Resolution hereinafter set out entitled "RESOLUTION
RATIFYING PRIOR PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF $200,000
GENERAL OBLIGATION CAPITAL LOAN NOTES" and moved:
D
D
that the Resolution be adopted.
ADJOURN and defer action on the Resolution and the proposal to
institute proceedings to the meeting to be held at o'clock
_.M. on the day of , 2005, at this
place.
-2-
Council Member
called and the vote was,
seconded the motion. The roll was
AYES:
NAYS:
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION RATIFYING PRIOR PROCEEDINGS TO
TAKE ADDITIONAL ACTION FOR THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF $200,000 GENERAL OBLIGATION
CAPITAL LOAN NOTES
WHEREAS, pursuant to notice published as required by law, this Council has held
a public meeting and hearing upon the proposal to institute proceedings for the
authorization of a Loan Agreement and the issuance of $200,000 General Obligation
Capital Loan Notes for a general corporate purpose, for the purpose of paying costs of
funding the City's Historic Preservation Revolving Loan Fund and the making ofloans to
property owners in designated historic preservation districts or who own a City designated
landmark for exterior rehabilitation projects, and no petition was filed calling for a
referendum thereon. 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 the prior action of this Council in Resolution No. 485-04,
approved on December 20, 2004, to institute proceedings and take additional action for
the authorization of a Loan Agreement and issuance in the manner required by law of
$200,000 General Obligation Capital Loan Notes to evidence the obligation thereof for
the foregoing general corporate purpose, is hereby ratified, confirmed and approved.
-3-
, .
Section 2. That the prior action of this Council in Resolution No. 486-04,
approved on December 20, 2004, to approve a form of Loan Agreement and authorize
issuance of said Notes is in all respects ratified, confirmed and approved.
PASSED AND APPROVED this - day of
,2005.
Mayor
ATTEST:
Clerk
-4-
CERTIFICATE
STATE OF IOWA
)
) SS
)
COUNTY OF DUBUQUE
CIG-3
9/91
I, the undersigned City Clerk of Dubuque, Iowa, 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 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 rules of the Council and the provisions of
Chapter 21, Code onowa, 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
day of ,2005.
City Clerk, Dubuque, Iowa
SEAL
DCORNELL \437487.1 IWPII 0422069
-5-
~,J '/S/ð5 {~(tji"a(S "'¡ò Jecll1nf-
(' Ofj 'Í1> ¿c,ura (!arS"fel1s
AHLERS~COONEY, P.C.
ATTORNEYS AT LAW
100 COURT AVENUE' SUtTE 600
DES MOINES. IOWA 50309-2231
PHDNE 515-243-7611
FAX, 515-243-2149
WWW.AHLERSLAW.COM
DirBct Dial.
1515)246-0332
WILLIAM J. NOTH
WNOTH@AHLERSLAW.COM
January 3, 2005
Mr. Ken TeKippe
Finance Officer
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE:
$200,000 General Obligation Capital Loan Note
(Historic Preservation Loan Fund)
Dear Mr. TeKippe:
With this letter I am enclosing suggested proceedings directing the republication of
notice of a public hearing concerning issuance of the above Note, as well as proceedings
ratifying the prior action to authorize issuance of the Note. These proceedings have been
prepared to eliminate any question as to whether the prior notice of hearing substantially
complied with the requirements onowa law.
As before, the form of notice included in the proceedings directing republication of
the same 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 10 clear days before the date of said
public meeting on the issuance of the Note. 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.
The proceedings ratifying the prior action have been prepared on the basis that no
petition will be filed with the City Clerk, asking that the question of issuing the Notes be
submitted to the qualified electors of the City. Assuming that to be the case, these
proceedings document that the hearing was held and that no petition had been filed. The
proceedings then ratify the provisions of Resolution Nos. 485-04 and 486-04, approved
on December 20, 2004.
WIS"^RD' BAILY - 1888, GUERNSEY' BAILY -1893, BAILY' STIPP -1901, STIPP. PERRY. BANNISTER' STARZINGER - 1914, BANNISTER. CARPENTER.
AHLERS' CoONEY- 1950, AHLERS. CoONEY. DORWEILER. ALLBEE. HAYNIE' SHITH -1974, AHLERS. CoONEY. DORWEILER. HAYNIE. SHI11<' ALLBEE. P.C. -1990
January 3, 2005
Page 2
If a valid petition is filed, please notify me so that the enclosed proceedings can be
revised to cover the action taken by the Council in either declaring the proposal to issue
the Notes to have been abandoned or the directions of the Council to the County
Commissioner to call a special election upon the question of issuing the Notes.
Extra copies of the proceedings are enclosed to be completed as the originals and
returned to us for our transcript of the action taken. If you have any questions, please
don't hesitate to call.
Yours very truly,
~
William J. Noth
WJN:dc
encl.
cc:
Barry Lindahl (w/encI.)
DCORNELL\437485.1 I WPI¡0422069