General Obligation Bond Issue
.
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 $3,000,000 GENERAL OBLIGATION BONDS", and moved:
W1 that the Resolution be adopted.
o 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
2000, at this place.
Council Member Buo 1
called and the vote was,
seconded the motion. The roll was
AYES: Duggan, Markham, Michalski, Nicholson,
.
Robbins, Buol, Cline
NAYS:
None
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO. 180-00
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $3,000,000 GENERAL OBLIGATION
BONDS
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
issuance of not to exceed $3,000,000 General Obligation Bonds for the essential
corporate purpose of paying 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 Downtown Dubuque
. Urban Renewal District, including but not limited to the construction of additionallevcIs
-3-
.
.
.
of parking spaces and expansion of the stnlctured parking facility located on Iowa Street
between Fifth and Sixth Streets, and no petition was filed calling for a referendum
thereon and this Council 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 RnSOL VED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section I. That this Council docs hereby institute proceedings and takes
additional action for the sale and issuance in the manner required by law of not to exceed
$3,000,000 General Obligation Bonds for the foregoing essential corporate purpose.
Section 2. That this Resolution be and does hereby serve as a declaration of
onicial intent under Treasury Regulation 1.150-2, because the City reasonably expects to
reimburse with thc proceeds of the Bonds, all or a portion of original expenditures
incurred in connection with the above purpose.
PASSED AND APPROVED this 1st
day of Mav
Terrance M. Duggan, Mayor
Attest:
Jeanne F. Schneider, City Clerk