General Obligation Bonds Series 2011 A and 2011 B_AmendmentsMasterpiece on the Mississippi
August 30, 2011
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
kittel
An- America Cily
11111
2007
SUBJECT: Resolutions Amending Resolution No. 269 -11 and Resolution
No. 271- 11(General Obligation Bonds, Series 2011A and Taxable General
Obligation Bonds, Series 2011 B)
Budget Director Jennifer Larson recommends City Council approval of the suggested
proceedings to amend Resolution Number 269 -11 and Resolution Number 271 -11
related to the recent Series 2011A and 2011B bond issuance.
The amendments are necessary to conform the authorizing resolution for each bond
series to the definition of the "record date" in the Official Statement for the bonds.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
ael C.
Mic Van
MCVM /jml
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Jennifer Larson, Budget Director
Kenneth TeKippe, Finance Director
Milligen
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolutions amending Resolution
No. 269 -11 and Resolution No. 271 -11 related to authorizing the issuance of the City's
General Obligation Bonds, Series 2011A and 2011B.
JML
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth TeKippe, Finance Director
2
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
RECFi\1F_D
11 AUG 29 AM11:31
City Clerk's Office
wnoth @ahlerslaw.com (515)246 -0332
August 26, 2011
Mr. Ken TeKippe
Finance Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001 -4864
RE: Resolutions Amending Resolution No. 269 -11 and Resolution No. 271 -11
(General Obligation Bonds, Series 2011A and Taxable General Obligation
Bonds, Series 2011B)
Dear Mr. TeKippe:
With this letter, I am sending suggested proceedings to document the Council's
approval of an amendment to Resolution No. 269 -11 related to authorizing the issuance
of the City's General Obligation Bonds, Series 201 IA and approval of an amendment to
Resolution No. 271 -11, related to authorizing the issuance of the City's Taxable General
Obligation Bonds, Series 2011B. The amendments are necessary to conform the
authorizing resolution for each series to the definition of the "record date" in the Official
Statement for the Bonds. The resolutions describe the details of the changes being made.
Following Council approval of each resolution, please return an executed copy of
each set of the proceedings to us for our transcript of the action taken. Should you have
any questions, or if we can be of any assistance in completing the enclosed items, please
don't hesitate to contact me.
Very truly yours,
•
William J. Noth
WJN:dc
encl.
00811884- 1\10422 -125
WISHARD & BAILY - 1888: GUERNSEY & BAILY - 1893: BAILY & STIPP - 1901. STIPP. PERRY BANNISTER & STARZINGER - 1914. BANNISTER, CARPENTER
AHLERS & COONEY - 1950: AHLERS, CCONEY, DORWEILER ALLBEE, HAYNIE & SMI fH - 1 974, AH,ERS, COONEY, DORWEILER, HAYNIE SMITH & ALLBEE, P.C. - 1990
C7 INAL
(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: September 6 , 2011.
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:
$6,330,000 General Obligation Bonds, Series 2011A.
Resolution Amending Resolution No. 269 -11 authorizing the issuance, adopted
August 15, 2011.
Such additional matters as are set forth on the additional 3 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 the governmental body.
City Clerk, City f Dubuque, Iowa
September 6 2011
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, Lynn Sutton.
Absent:
1
Council Member Lynch introduced the following Resolution
entitled "RESOLUTION AMENDING RESOLUTION NO. 269-11 AUTHORIZING
ISSUANCE OF $6,330,000 GENERAL OBLIGATION BONDS, SERIES 201 1A,
ADOPTED AUGUST 15, 2011" and moved that it be adopted. Council Member
Jones seconded the motion to adopt, and the roll being called thereon,
the vote was as follows:
AYES: Lynch Resnick, Sutton, Braig
NAYS:
Buol, Connors, Jones
Whereupon, the Mayor declared said Resolution duly adopted as follows:
RESOLUTION NO. 288 -11
RESOLUTION AMENDING RESOLUTION NO. 269 -11
AUTHORIZING ISSUANCE OF $6,330,000 GENERAL OBLIGATION
BONDS, SERIES 2011A, ADOPTED AUGUST 15, 2011
•
WHEREAS, the Council adopted Resolution No. 269 -11, a Resolution
Authorizing and Providing for the Issuance of $6,330,000 General Obligation Bonds,
Series 2011A, and Levying a Tax to Pay Said Bonds, on August 15, 2011; and
WHEREAS, Section 10 and Section 13 of Resolution No. 269- 11provides that
payments of principal and interest made in respect of any Bond shall be paid to the
registered holder or to their designated agent as shown on the records of ownership
maintained by the Registrar on the 15th day preceding the payment date; and
WHEREAS, the Official Statement, dated August 8, 2011, provides that payments
of principal and interest made in respect of any Bond shall be paid to the registered
holder or to their designated agent as shown on the records of ownership maintained by
the Registrar on the 15`h day of the month preceding the payment date; and
WHEREAS, it is necessary to conform the definition of record date as stated in
said Resolution to that as stated in the Official Statement, and action should now be taken
to amend Section 10 and Section 13 of said Resolution to so conform.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
2
Section 1. Section 10 of Resolution No. 269 -11 shall be amended to read as
follows:
Section 10. Record Date. Payments of principal and interest, otherwise than upon full
redemption, made in respect of any Bond, shall be made to the registered holder thereof
or to their designated agent as the same appear on the books of the Registrar on the 15th
day of the month preceding the payment date. All such payments shall fully discharge the
obligations of the Issuer in respect of such Bonds to the extent of the payments so made.
Payment of principal shall only be made upon surrender of the Bond to the Paying Agent.
Section 2. The definition of record date in the form of Bond as set forth in Section
13 of Resolution No. 269 -11 shall be amended to read as follows:
Interest and principal shall be paid to the registered holder of the Bond as shown on the
records of ownership maintained by the Registrar as of the 15th day of the month
preceding such interest payment date.
Section 3. That all other provisions of Resolution No. 269 -11 be and the same
hereby are ratified, confirmed and approved.
PASSED AND APPROVED this 6th day of September , 2011.
ATTEST:
Mayor 7
3
STATE OF IOWA
COUNTY OF DUBUQUE
CERTIFICATE
) SS
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 6th
September , 2011.
(SEAL)
00811843 -1 \10422 -125
..ice/
City Clerk, City of Dubuque, tate of Iowa
day of
CG!NAL
(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: September , 2011.
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:
$1,590,000 Taxable General Obligation Bonds, Series 2011B.
• Resolution Amending Resolution No. 271 -11 authorizing the issuance, adopted
August 15, 2011.
Such additional matters as are set forth on the additional 3 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 the governmental body.
City Clerk, Ci y of Dubuque, State of Iowa
September 6 2011
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, Lynn Sutton.
Absent:
1
Council Member Lynch introduced the following Resolution
entitled "RESOLUTION AMENDING RESOLUTION NO.271 -11 AUTHORIZING
ISSUANCE OF $1,590,000 TAXABLE GENERAL OBLIGATION BONDS, SERIES
2011B, ADOPTED AUGUST 15, 2011" and moved that it be adopted. Council Member
J o n P s seconded the motion to adopt, and the roll being called thereon,
the vote was as follows:
AYES: Lynch, Resnick, Sutton, Braig, Buol,
NAYS:
Connors, Jones
Whereupon, the Mayor declared said Resolution duly adopted as follows:
RESOLUTION NO. 289 -11
RESOLUTION AMENDING RESOLUTION NO. 271-11
AUTHORIZING ISSUANCE OF $1,590,000 TAXABLE GENERAL
OBLIGATION BONDS, SERIES 2011B, ADOPTED AUGUST 15, 2011
WHEREAS, the Council adopted Resolution No. 271 -11, a Resolution
Authorizing and Providing for the Issuance of $1,590,000 Taxable General Obligation
Bonds, Series 2011B, and Levying a Tax to Pay Said Bonds, on August 15, 2011; and
WHEREAS, Section 10 and Section 13 of Resolution No. 271 -11 provides that
payments of principal and interest made in respect of any Bond shall be paid to the
registered holder or to their designated agent as shown on the records of ownership
maintained by the Registrar on the 15th day preceding the payment date; and
WHEREAS, the Official Statement, dated August 8, 2011, provides that payments
of principal and interest made in respect of any Bond shall be paid to the registered
holder or to their designated agent as shown on the records of ownership maintained by
the Registrar on the 15th day of the month preceding the payment date; and
WHEREAS, it is necessary to conform the definition of record date as stated in
said Resolution to that as stated in the Official Statement, and action should now be taken
to amend Section 10 and Section 13 of said Resolution to so conform.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. Section 10 of Resolution No. 271 -11 shall be amended to read as
follows:
Section 10. Record Date. Payments of principal and interest, otherwise than upon full
redemption, made in respect of any Bond, shall be made to the registered holder thereof
or to their designated agent as the same appear on the books of the Registrar on the 15th
day of the month preceding the payment date. All such payments shall fully discharge the
obligations of the Issuer in respect of such Bonds to the extent of the payments so made.
Payment of principal shall only be made upon surrender of the Bond to the Paying Agent.
Section 2. The definition of record date in the form of Bond as set forth in Section
13 of Resolution No. 271 -11 shall be amended to read as follows:
Interest and principal shall be paid to the registered holder of the Bond as shown on the
records of ownership maintained by the Registrar as of the 15th day of the month
preceding such interest payment date.
Section 3. That all other provisions of Resolution No. 271 -11 be and the same
hereby are ratified, confirmed and approved.
PASSED AND APPROVED this 6th day of September , 2011.
ATTEST:
3
CERTIFICATE
STATE OF IOWA )
) SS
COUNTY OF 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 7th day of
September , 2011.
(SEAL)
00811834 -1 \10422 -125
Cit Clerk, Cit of Dubuque, State of Iowa