General Obligation Bonds_$9M for Essential Corporate PurposesMasterpiece on the Mississippi
November 14, 2011
Dubuque
kittal
All-America City
'1IIJ®'
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,000,000 General Obligation Bonds
Budget Director Jennifer Larson recommends that a public hearing be set for
December 5, 2011, on the proposition of selling not to exceed $9,000,000 in General
Obligation Bonds, the proceeds of which will be used to pay costs of street
improvements related to East 7th and Commercial Street reconstruction and related
improvements, two -way street traffic conversion from 9th to 11th Streets, Historic
Millwork District "complete streets" improvements and the refunding and refinancing of
the General Obligation Capital Loan Notes, Series 2010F, dated September 20, 2010.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM /jml
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Jennifer Larson, Budget Director
Kenneth TeKippe, Finance Director
Masterpiece on the Mississippi
Dubuque
katil
AII- America City
If
2007
TO: Michael C. Van Mil!igen, City Manager
FROM: Jennifer Larson, Budget Director
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,000,000 General Obligation Bonds
DATE: November 14, 2011
INTRODUCTION
The purpose of this memorandum is to recommend the setting of a public hearing on
the proposal to issue General Obligation Bonds, the proceeds of which will be used for
essential corporate purposes of the City. A letter from attorney William Noth detailing
information on the bond hearing is enclosed.
DISCUSSION
Of the bond amount:
• $3,400,000 is intended to provide funds to pay costs of street improvements
related to East 7th and Commercial Street reconstruction and related
improvements. The East 7th Street and Commercial Street reconstruction is a
$4.1 million project, with $680,892 paid through a State of Iowa Department of
Transportation Revitalize Iowa's Sound Economy (RISE) grant. This will connect
downtown Dubuque to the Historic Millwork District and the Port of Dubuque
with a connection from the railroad underpass near the Shot Tower on the east
to near the Iowa Street parking ramp on the west.
• $1,725,000 is intended to provide funds to pay costs of two -way street traffic
conversion from 9th to 11th Streets. Converting the streets to two -way from 9th to
11th Streets will better accommodate all modes of transportation including
pedestrians, bicycles and buses, allow for greater vehicular access to
businesses that locate in the Historic Millwork District and strengthen
transportation connections to the Central Business District.
• $350,000 is intended to provide funds to pay overages of Historic Millwork
District "complete streets" improvements caused by additional work needing to
be performed on 9th and 10th Streets due to the street pavement being in very
poor condition.
• $1,950,000 is intended to provide funds for the refunding and refinancing of the
General Obligation Capital Loan Notes, Series 2010F, dated September 20,
2010 which were issued as a short-term borrowing for the construction of the
bridges of Lower Bee Branch.
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
wnoth @ahlerslaw.com
November 14, 2011
Mr. Ken TeKippe
Finance Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001 -4864
Re: Not to exceed $9,000,000 General Obligation Bonds
Dear Mr. TeKippe:
RECEIVED
11 NOV 15 P1112: 01
-City Clerk's Office
DUbijQH 51'5)46-Dial:
We have now prepared and are enclosing 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 Section 384.25.
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 four clear
days nor more than twenty days before the date of the public meeting on the issuance of
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.
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 the 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 the Bonds or to abandon
the proposal to issue the Bonds.
The Council is required by statute to adopt the resolution instituting proceedings to
issue the Bonds at the hearing - -or an adjournment thereof.
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. DORWEILER, HAYNIE. SMITH & ALLBEE. P.C. - 1990
November 14, 2011
Page 2
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.
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.
Very truly yours,
William J. Noth
WJN:dc
encl.
cc: Jenny Larson (w /encl.)
00825908 -1 \10422 -130
11 AL
(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: NovemhPr -21 , 2011.
Time of Meeting: 6 : 3 0 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:
Not to exceed $9,000,000 General Obligation Bonds
• Resolution fixing date for a meeting on the proposition to issue.
Such additional matters as are set forth on the additional 5 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 lerk, City of Dubuque, Iowa
November 21 ,2011
The City Council of the City of Dubuque, Iowa, met in r e g ii l a r
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:
session,
Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch
David Resnick, Lynn Sutton
Absent:
1
Council Member Lynch introduced the following
Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $9,000,000 GENERAL
OBLIGATION BONDS (FOR ESSENTIAL CORPORATE PURPOSES) OF THE CITY
OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF ", and moved that the same be adopted. Council Member
Connors seconded the motion to adopt. The roll was called and the
vote was,
AYES: Sutton, Braig, Buol, Connors
NAYS:
Whereupon, the Mayor declared the resolution duly adopted as follows:
RESOLUTION NO. 386 -11
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$9,000,000 GENERAL OBLIGATION BONDS (FOR ESSENTIAL
CORPORATE PURPOSES) OF THE CITY 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 General Obligation Bonds, to the amount of not to exceed $9,000,000, as
authorized by Section 384.25, 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 the Bonds may be issued, it is necessary to comply with the
provisions of the 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 to receive oral and/or written objections from any resident or
property owner of the City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
2
Section 1. That this Council meet in the Historic Federal Building, 350 West 6th
Street, Dubuque, Iowa, at 6:30 o'clock P .M., on the 5th day of
December , 2011, for the purpose of taking action on the matter of the issuance of
not to exceed $9,000,000 General Obligation Bonds, for essential corporate purposes of
the City, the proceeds of which Bonds will be used to provide funds to pay costs of the
construction, reconstruction and repair of street, sidewalk and streetscape improvements,
including those costs associated with the East 7th and Commercial Street reconstruction
and related improvements, two -way street traffic conversions, and Historic Millwork
District "complete streets" improvements, and the refunding and refinancing of the
General Obligation Capital Loan Notes, Series 2010F, dated September 20, 2010.
Section 2. To the extent any of the projects or activities described in this resolution
may be reasonably construed to be included in more than one classification under
Division III of the City Code of Iowa, the Council hereby elects the "essential corporate
purpose" classification and procedure with respect to each such project or activity,
pursuant to Section 384.28 of the City Code of Iowa.
Section 3. That the Clerk is hereby directed to cause at least one publication to be
made of a notice of the meeting, in a legal newspaper, printed wholly in the English
language, published at least once weekly, and having general circulation in the City. The
publication to be not less than four clear days nor more than twenty days before the date
of the public meeting on the issuance of the Bonds.
Section 4. The notice of the proposed action to issue the Bonds shall be in
substantially the following form:
3
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF
NOT TO EXCEED $9,000,000 GENERAL OBLIGATION BONDS (FOR
ESSENTIAL CORPORATE PURPOSES) OF THE CITY, AND THE HEARING
ON THE ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City of Dubuque, Iowa, will hold a
public hearing on the 5th day of December , 2011, at 6:30
o'clock P .M., in the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa,
at which meeting the Council proposes to take additional action for the issuance of not to
exceed $9,000,000 General Obligation Bonds, for essential corporate purposes of said
City, in order to provide funds to pay costs of the construction, reconstruction and repair
of street, sidewalk and streetscape improvements, including those costs associated with
the East 7th and Commercial Street reconstruction and related improvements, two -way
street traffic conversions, and Historic Millwork District "complete streets"
improvements, and the refunding and refinancing of the General Obligation Capital Loan
Notes, Series 2010F, dated September 20, 2010.
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 issuance of Bonds or will abandon the proposal to issue
Bonds.
This notice is given by order of the City Council of the City of Dubuque, State of
Iowa, as provided by Section 384.25 of the City Code of Iowa.
Dated this 25th day of November , 2011.
Cit C1 rk, City of Dubuque, Iowa
(End of Notice)
PASSED AND APPROVED this 21st day of November , 2011.
ATTEST:
5
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 conunenceinent 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 1s t day of
n remhPr , 2011.
I AP-7711,
City C erk, qty of ubuq
(SEAL)
00825910 -1 \10422 -130
Iowa
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF DUBUQUE
L.
ill
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 of Iowa, and that as such Clerk and by full authority from the
Council of the City, I have caused a
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA, ON THE MATTER OF THE PROPOSED
ISSUANCE OF NOT TO EXCEED $9,000,000 GENERAL
OBLIGATION BONDS, OF THE CITY OF DUBUQUE, 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 the Notice was published
in all of the issues thereof published and circulated on the following date:
November 2'
, 2011.
WITNESS my official signature at Dubuque, Iowa, this 1s t day of
December ,2011.
City
(SEAL)
00825910 -1 \10422 -130
r , City of Dubuque, owa