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G.O. Bonds 7,265,000 Bergfeld Farm improvements D~~~E ~<Ik.~ MEMORANDUM March 1, 2005 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Proceedings for Public Hearing on the Issuance of General Obligation Bonds Finance Director Ken TeKippe recommends that the City Council approve selling not to exceed $7,265,000 in General Obligation Bonds to support grading and infrastructure improvements to the former 152 acre Bergfeld farm property and other amenities in Bergfeld Recreation Area in the Dubuque Industrial Center Economic Development District. These bonds will be retired with Tax Increment Financing Revenues. I concur with the recommendation and respectfully request Mayor and City Council approval. }l!( ) (/ i k (/1;1 (~'__, Michael C. Van Milligen MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director j :: ' '. . D~~~JE ~~~ Memorandum TO: Michael C. Van Milligen, City Manager FROM: Kenneth J. TeKippe, Finance Director ~;, v~I-/<O- SUBJECT: Proceedings for Public Hearing on the Issuance of General Obligation Bonds DATE: March 1, 2005 The purpose of this memorandum is to provide the suggested proceedings for the public hearing on the issuance of General Obligation Bonds supporting grading and infrastructure improvements to the former 152 acre Bergfeld farm property and other amenities in Bergfeld Recreation Area in the Dubuque Industrial Center Economic Development District 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 $7,265,000 General Obligation Bonds." The proceedings have been prepared on the basis that no petitions for an election or objections will be filed with the City Clerk. If there are petitions filed calling for an election on the proposal, further action on the proposal should be adjourned to a specific date and time, at which point the Council will need to determine whether to call for a special election on the bond proposal or else abandon the same. 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 $7,265,000 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 $7,265,000 and to approve the form of Notice of Bond Sale (attached). We expect to issue two series of bonds with a portion taxable (funds to be used to develop and grade properties that are expected to be sold for private redevelopment) and a portion tax exempt. 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 March 21, 2005. KT/jg Attachments cc: Barry Lindahl, Corporation Counsel Dawn Lang, Budget Director Jeanne Schneider, City Clerk " j I , .. '.'=0 (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: Not to exceed $7,265,000 General Obligation Bonds. . Public hearing on the issuance. . Resolution instituting proceedings to take additional action. Such additional m~tters 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 Carnegie-Stout Public Library, Dubuque, Iowa, at date. There were present Mayor following named Council Members: session, in the Auditorium, o'clock _.M., on the above , in the chair, and the Absent: ******* -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 $7,265,000 General Obligation Bonds in order 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 Dubuque Industrial Center Economic Development District, including those costs associated with grading and construction of the former 152 acre Bergfeld farm property of said urban renewal area, the construction of street improvements to connect the east and west sections of Chavenelle Road and related water and sewer improvements to serve the developed areas and property to the north, the construction of public trails throughout the district, and retaining wall around the pond in the Bergfeld Recreation Area and the construction of other public amenities in the Bergfeld Recreation Area, including restrooms, fishing pier, play equipment and lighting improvements, essential corporate purposes, and that notice of the proposed action by the Council to institute proceedings for the issuance of said bonds, and the right to petition for an election, had been published pursuant to the provisions of Sections 403.12 and 384.24(3)(q) of the Code ofIowa. 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 and whether any such petition had been filed, requesting that the question of issuing said bonds be submitted to the qualified electors of the City. The Clerk advised the Mayor and the Council that no such petition had been filed and that written objections had been filed. The Mayor then called for oral objections to the issuance of said bonds and 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 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 $7,265,000 GENERAL OBLIGATION BONDS", and moved: D that the Resolution be adopted. D 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 , 2005, at this place. Council Member called and the vote was, seconded the motion. The roll was AYES: NAYS: Whereupon, the Mayor declared the measure duly adopted. RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO EXCEED $7,265,000 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 $7,265,000 General Obligation Bonds for essential corporate purposes 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 Dubuque Industrial Center Economic Development District, including those costs associated with grading and construction of -3- the former 152 acre Bergfeld farm property of said urban renewal area, the construction of street improvements to connect the east and west sections of Chavenelle Road and related water and sewer improvements to serve the developed areas and property to the north, the construction of public trails throughout the district, and retaining wall around the pond in the Bergfeld Recreation Area and the construction of other public amenities in the Bergfeld Recreation Area, including restroorns, fishing pier, play equipment and lighting improvements, 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 RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section I. 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 $7,265,000 General Obligation Bonds for the foregoing essential corporate purposes. Section 2. The Clerk and Finance Director are 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 day of 2005. Mayor ATTEST: City Clerk -4- . . 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 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 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. WITNESS my hand and the seal of said Municipality hereto affixed this day of , 2005. City Clerk, Dubuque, Iowa SEAL DCORNELL\442522.1 \ WP\I 0422070 -5- . . {-- (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: $1,750,000 General Obligation Bonds, Series 2005A $4,270,000 General Obligation Urban Renewal Bonds, Series 2005B $2,995,000 General Obligation Urban Renewal Bonds, Taxable Series 2005C . Resolution directing the advertisement of Bonds for sale and approving electronic bidding procedures. I 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 the above date. There were present Mayor following named Council Members: session, in the o'clock _.M., on , in the chair, and the Absent: ******** -1- . . Council Member introduced the following Resolution entitled "RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF GENERAL OBLIGATION BONDS, SERIES 2005A, SERIES 2005B AND TAXABLE SERIES 2005C, IN THE AGGREGATE PRINCIPAL AMOUNT OF $9,015,000, AND APPROVING ELECTRONIC BIDDING PROCEDURES" and moved its adoption. Council Member seconded the Resolution to adopt. The roll was called and the vote was, AYES: NAYS: Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF GENERAL OBLIGATION BONDS, SERIES 2005A, SERIES 2005B AND TAXABLE SERIES 2005C, IN THE AGGREGATE PRINCIPAL AMOUNT OF $9,015,000, AND APPROVING ELECTRONIC BIDDING PROCEDURES I 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 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 $1,750,000 as authorized by Section 384.25 of the City Code ofIowa; 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 -2- issuance of said Bonds, and that such action is considered to be in the best interests of said City and the residents thereof; and WHEREAS, the City also is in need of 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 Urban Renewal Plan for the Greater Downtown Urban Renewal District, including those costs associated with the rehabilitation of the historic Dubuque Star Brewery Building and its redevelopment for retail commercial entertainment purposes, and the funding of grants to private developers for such purposes, essential corporate purpose projects, and it is deemed necessary and advisable that the City issue general obligation bonds for said purpose to the amount of not to exceed $1,150,000 as authorized by Sections 403.12 and 384.24(3)(q) of the Code ofIowa; and WHEREAS, pursuant to notice published as required by Sections 403.12 and 384.24(3)(q) this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of the above described Bonds, and no petitions were filed calling for an election thereon 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; and WHEREAS, the City also is in need of 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 Dubuque Industrial Center Economic Development District, including those costs associated with grading and construction of the former 152 acre Bergfeld farm property of said urban renewal area, the construction of street improvements to connect the east and west sections of Chavenelle Road and related water and sewer improvements to serve the developed areas and property to the north, the construction of public trails throughout the district, and retaining wall around the pond in the Bergfeld Recreation Area and the construction of other public amenities in the Bergfeld Recreation Area, including restrooms, fishing pier, play equipment and lighting improvements, essential corporate purpose projects, and it is deemed necessary and advisable that the City issue general obligation bonds for said purpose to the amount of not to exceed $7,265,000 as authorized by Sections 403.12 and 384.24(3)(q) of the Code ofIowa; and -3- WHEREAS, pursuant to notice published as required by Sections 403.12 and 384.24(3)(q) this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of the above described Bonds, and no petitions were filed calling for an election thereon 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; and WHEREAS, the Council has received information from its Financial Consultant recommending the procedure hereinafter described for electronic, facsimile and internet bidding to maintain the integrity and security of the competitive bidding process and to facilitate the delivery of bids by interested parties; and WHEREAS, the Council deems it in the best interests of the City and the residents thereof to receive bids to purchase such Bonds by means of both sealed and electronic internet communication. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section I. That the receipt of electronic bids by facsimile machine and through the P ARITY@ competitive bidding system described in the Notice of Sale are hereby found and determined to provide reasonable security and to maintain the integrity of the competitive biddin~ process, and to facilitate the delivery of bids by interested parties in connection with the offering of the Bonds hereinafter described at public sale. 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 ofIowa, and shall state that this Council, on the 21st day of March, 2005, at 6:30 o'clock P.M., will hold a meeting to receive and act upon bids for said Bonds; said notice to be in substantially the following form: -4- 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 11:00 o'clock A.M., on the 21st day of March, 2005. The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the terms of offering. Sale and A ward: The sale and award of the Bonds will be held at the Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, 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 2005A, in the amount of $ 1,750,000, to be dated the date of delivery. GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2005B, in the amount of $4,270,000, to be dated the date of delivery. GENERAL OBLIGATION URBAN RENEWAL BONDS, TAXABLE SERIES 2005C, in the amount of $2,995,000, to be dated the date of delivery. (together, the "Bonds") Manner of Bidding: Open bids will not be received. Bids for each series of the Bonds will be received in any of the following methods: . Sealed Bidding: Sealed bids may be submitted and will be received at the office of the Finance Director, Dubuque, Iowa . Electronic Internet Bidding:: Electronic internet bids will be received at the office of the Finance Director, Dubuque, Iowa. The bids must be submitted through the P ARITY@ competitive bidding system. . Electronic Facsimile Bidding: Electronic facsimile bids will be received at the office of the Finance Director, Dubuque, Iowa (facsimile number: 563/589-0890). Electronic facsimile bids will be sealed and treated as sealed bids. -5- Consideration of Bids: After the time for receipt of bids has passed, the close of sealed bids will be announced. Sealed bids will then be publicly opened and announced. Finally, electronic internet bids will be accessed and announced. 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 for each series, 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 of Ahlers & 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 all 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. By order of the City Council of the City of Dubuque, Iowa. City Clerk of the City of Dubuque, Iowa (End of Notice) -6- . ATTEST: PASSED AND APPROVED this day of ,2005. Mayor Clerk -7- 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 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 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. WITNESS my hand and the seal of said Municipality hereto affixed this day of ,2005. City Clerk, Dubuque, Iowa SEAL DCORNELL\439075.1 \ WPlI 0422070 -8- 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 ofIowa, and that as such Clerk and by full authority from the Council of said City, I have caused a NOTICE OF BOND SALE 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) DCORNELL\439076.\ IWP\I0422070 , . D0~~E ~</k.~ MEMORANDUM February 16,2005 TO: FROM: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager SUBJECT: Proceedings to Set Public Hearing on the Issuance of General Obligation Bonds Finance Director Ken TeKippe recommends that the City Council set a public hearing for March 7, 2005, on the proposition of selling not to exceed $7,265,000 in General Obligation Bonds to support grading and infrastructure improvements to the former 152 acre Bergfeld farm property and other amenities in Bergfeld Recreation Area in the Dubuque Industrial Center Economic Development District. I concur with the recommendation and respectfully request Mayor and City Council approval. .~ (fkJJW~/l2h Michael C. Van Milligen - MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director 7135 J J J7/0Ci ~ '" "C <Il e \ "'E. (1\ "C <Il e % ~ ~ lii 0. 1ii '10 "in ~ .S ~ ~ '" ~ .. 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'" Ol " c; -0:;:: ffi~ '" Ol C .S <ll.:< .t:! ro 13 ~ ,:;4: o '" S~ ~ ~ "US .c. .... g"-o ctI ._ Q) a.~~ o '" '" Q.roi; C:-= " '" '" '" " ~ - co '" '" .gro ~ '_'~ .c Eo - o 3: Q5 0_> <ll '" ., .s:J~:u .~ ro .c co" 3: '" C <ll Z '- <<s..c co '" o c: ..... .9 1-0,E :;: '''' '" E ro .0 '" (.J ~ en == LL~~C] t= .... ro c:: Cl)Q)U)U ;;~'.c~ '" en Cii o o c '" E <ll ill e: .2 m t:: o a. '" e: l!! I- " e: co en - ,.; (ii o ~ c '" E '" ill C o 1il ., - o '" OC '" 'c co a: " en .~ l- e: U '" wr. .., '" 05. 0:: E 0. 0 0::0 w '" ::t,s I- '" 0" g ~ o..!! _0- :I: E <Il .- Zu o ., ~'[ -' '" UJ:.c 0::1- Th:J"i3~E ~~~ Memorandum FROM: Michael C. Van Milligen, City Manager Kenneth J TeKippe, Finance Director ~ f) (/'oIhft/r TO: SUBJECT: Proceedings to Set Public Hearing on the Issuance of General Obligation Bonds DATE: February 16, 2005 The purpose of this memorandum is to recommend the setting of a public hearing on the proposal to issue General Obligation Bonds to support grading and infrastructure improvements to the former 152 acre Bergfeld farm property and other amenities in Bergfeld Recreation Area in the Dubuque Industrial Center Economic Development District. A letter from attorney William Noth detailing information on the bond hearing is enclosed. The requested actibn step for City Council is to adopt the attached resolution fixing the date of March 7, 2005 for a public hearing on the proposition of selling not to exceed $7,265,000 in General Obligation Bonds (for an essential corporate purpose) of Dubuque, Iowa and providing for publication of notice. We expect to issue two series of bonds with a portion taxable (funds to be used to develop and grade properties that are expected to be sold for private redevelopment) and a portion tax exempt. The proposal to issue bonds is subject to a ten day reverse referendum. KJT/jmg Enclosures cc: Barry Lindahl, Corporation Counsel Dawn Lang, Budget Director Jeanne Schneider, City Clerk . AHLERS '&'COONEY, P.C. ATTORNEYS AT LAW 100 COURT AVENUE' SUITE 600 DES MOINES, IOWA 50309-2231 PHONE 515-243-7611 FAX, 515-243-2149 WWW.AHlERSLAW.COM WilliAM J. NOTH WNOTHOAHlERSLAW,COM Oired Dial: (515)246-0332 February 15,2005 Mr. Ken TeKippe Finance Officer City of Dubuque 50 West 13th Street Dubuque, Iowa 52001-4864 RE: Not to exceed $7,265,000 General Obligation Bonds Dear Mr. TeKippe: We have now prepared and are enclosing herewith suggested proceedings to be acted upon by the Council in fixing the date of a meeting on the proposition to issue the above mentioned Bonds and ordering publication of a notice of hearing consistent with the provisions of Code Sections 403.12 and 384.24(3)(q). Notice of this meeting 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 ten clear days before the date of said public meeting on the issuance of said Bonds. 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. Also enclosed is an extra copy of the proceedings to be filled in as the original and certified back to this office, together with publisher's affidavit of publication of notice of hearing. We are also enclosing an extra copy of the notice of hearing to be delivered to the newspaper for publication purposes. A certificate to attest the proceedings is also enclosed. WISHARD & BAILY - 1888; GUERNSEY & BAILY - 1893; BAilY & STIPP - 1901; STIPP. PERRY, BANNISTER & STARZINGER - 1914; BANNISTER. CARPENTER. AHLERS & CoONEY - 1950; AHLERS. CoONEY, DORWEILER. ALLBEE. HAYNIE & SMITH - 1974: AHLERS. CoONEY. DORWEllER, HAYNIE. SMIDl &ALL8EE. P.C. - 1990 f.. .. February 15,2005 Page 2 At any time before the date of the hearing, a petition may be filed with the Clerk requesting that the issuance of the Bonds for this purpose be submitted to an election. To qualify, a petition must be signed by eligible electors equal to at least ten percent of the number who voted at the last regular municipal election (but not less than ten persons). At the time of hearing the Council shall receive oral or written objections from any resident or property owner to the proposed action to issue said Bonds. After all objections have been received and considered, the Council is required, at that meeting or at any adjournment thereof, to take additional action for the issuance of said Bonds or to abandon the proposal to issue said Bonds. The Council is required by statute to adopt the resolution instituting proceedings to issue the Bonds at the hearing--or an adjournment thereof. We will prepare and forward to you in the near future, suggested procedure to be acted upon on the date of hearing. If you have any questions pertaining to the proceedings enclosed or the above instructions, please do not hesitate to either write or call. Yours very truly, ~ William J. Noth WIN :dc encl. cc: Tionna Pooler Dave Dirks DCORNELL1441994.1 I WPl10422070 ,,- ! \... (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: Not to exceed $7,265,000 General Obligation Bonds. . Resolution fixing date for a meeting 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 session, in the o'clock .M., on , in the chair, The City Council of Dubuque, Iowa, met in Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at the above date. There were present Mayor and the following named Council Members: Absent: ******* -1- Council Member introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $7,265,000 GENERAL OBLIGATION BONDS (FOR ESSENTIAL CORPORATE PURPOSES) OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICA nON OF NOTICE THEREOF", 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 FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $7,265,000 GENERAL OBLIGATION BONDS (FOR ESSENTIAL CORPORATE PURPOSES) OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOT,ICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Dubuque, Iowa, should issue General Obligation Bonds to the amount of not to exceed $7,265,000, as authorized by Section 403. I 2 of the City Code of Iowa, for the purpose of providing funds to pay costs of carrying out essential corporate purpose projects as hereinafter described; and WHEREAS, before said Bonds may be issued, it is necessary to comply with the provisions of said Code, and to publish a notice of the proposal to issue such Bonds and of the time and place of the meeting at which the Council proposes to take action for the issuance of the Bonds and the right to petition for an election and to receive oral and/or written objections from any resident or property owner of said City to such action. -2- NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section I. That this Council meet in the Council Chambers, City Hall, Dubuque, Iowa, at o'clock _.M., on the day of , 2005, for the purpose of taking action on the matter of the issuance of not to exceed $7,265,000 General Obligation Bonds for essential corporate purposes of said City, the proceeds of which bonds 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 Dubuque Industrial Center Economic Development District, including those costs associated with grading and construction of the former 152 acre Bergfeld farm property of said urban renewal area, the construction of street improvements to connect the east and west sections of Chavenelle Road and related water and sewer improvements to serve the developed areas and property to the north, the construction of public trails throughout the district, and retaining wall around the pond in the Bergfeld Recreation Area and the construction of other public amenities in the Bergfeld Recreation Area, including restrooms, fishing pier, play equipment and lighting improvements. 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 bonds. Section 3. The notice of the proposed action to issue said bonds 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 NOT TO EXCEED $7,265,000 GENERAL OBLIGATION BONDS (FOR ESSENTIAL CORPORATE PURPOSES) OF SAID CITY, AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby grven 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 not to exceed $7,265,000 General Obligation Bonds for essential corporate purposes of said City, in order 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 Dubuque Industrial Center Economic Development District, including those costs associated with grading and construction of the former 152 acre Bergfeld farm property of said urban renewal area, the construction of street improvements to connect the east and west sections of Chavenelle Road and related water and sewer improvements to serve the developed areas and property to the north, the construction of public trails throughout the district, and retaining wall around the pond in the Bergfeld Recreation Area and the construction of other public amenities in the Bergfeld Recreation Area, including restrooms, fishing pier, play equipment and lighting improvements. At the above meeting the Council shall receive oral or written objections from any resident or properl)( owner of said 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 issuance of said Bonds or will abandon the proposal to issue said bonds. At any time before the date of said meeting, a petition, asking that the question of issuing such Bonds 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 of Iowa, pursuant to the provisions of Sections 403.12 and 384.24(3)(q) of the City Code ofIowa. This notice is given by order of the Council of Dubuque, Iowa, as provided by Sections 403.12 and 384.24(3)(q) of the City Code ofIowa. Dated this day of ,2005. City Clerk of Dubuque, Iowa (End of Notice) -4- PASSED AND APPROVED this day of 2005. Mayor ATTEST: City Clerk -5- 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 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 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. WITNESS my hand and the seal of said Municipality hereto affixed this day of ,2005. City Clerk, Dubuque, Iowa SEAL DCORNELLI441971.1\ WPlI 04222070 -6- . f , ,t_ 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 ofIowa, 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 NOT TO EXCEED $7,265,000 GENERAL OBLIGATION BONDS (FOR ESSENTIAL CORPORATE PURPOSES) 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 Nbtice 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) DCORNELLI441970.I\WPlI0422070