Loading...
Essential Corporate Purpose General Obligation Bonds_$8,650,000Masterpiece on the Mississippi April 5, 2012 Dubuque bierd All-America City 1 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 $8,650,000 General Obligation Bonds Budget Director Jennifer Larson recommends that a public hearing be set for May 7, 2012, on the proposition of selling not to exceed $8,650,000 in General Obligation Bonds, the proceeds of which will be used to pay costs of water and sanitary utility extensions from Technology Park South to the Airport, relocation of E911 equipment to a different tower, replacement of a Fire pumper truck, roof replacement at Bunker Hill, improvements at Bunker Hill and Flora and Sutton pools, local match of Federal Emergency Management Agency Flood Buyout Program for properties sustaining substantial damage in the July 2011 flood event, Airport improvements including local match on the New Terminal project and sanitary sewer, storm water and water improvements. 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 bierd All-America City 1 2007 TO: Michael C. Van Milligen, City Manager FROM: Jennifer Larson, Budget Director SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed $8,650,000 General Obligation Bonds DATE: April 5, 2012 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 Mark Cory detailing information on the bond hearing is enclosed. DISCUSSION Of the bond amount: • $1,000,000 is intended to provide funds to pay costs of right -of -way acquisition and design of public sanitary and water utilities extensions from Technology Park South along the highway to the Airport. • $243,000 is intended to provide funds to pay costs of moving the 911 radio equipment and the Police Department radio /MCT equipment from the current location on the KFXB tower to the Radio Dubuque Tower. • $280,000 is intended to provide funds to purchase a replacement fire pumper which will carry a 1500 GPM pump, water tank, hose bed and standard complement of ground ladders and firefighting tools • $75,000 is intended to provide funds for replacing the roof on the main building at Bunker Hill. The roof is beginning to show signs of age; for example, shingles are rising in some places and flacking. • $10,000 is intended to provide funds for replacing the pre- fabricated storage sheds at Flora and Sutton Pools. • $10,000 is intended to provide funds for replacing five windows and exterior painting of the golf maintenance building, vinyl siding repairs on the park patrol car garage and hole #5 shelter roof replacement at Bunker Hill Golf Course. • $35,000 is intended to provide funds for the rehabilitation of Airport corporate hangers and buildings. The large corporate hangars, as well as, existing leased T- hangars, need structural repairs such as roofing, heating, flooring and door repairs /replacement. • $57,000 is intended to provide funds for the Airport Joint Use Facility for HVAC replacement. Modern energy efficient HVAC systems will decrease the operating costs versus the 15- year -old original units. This project will also provide a safety epoxy- urethane floor coating to the concrete floor in selected areas of the building. • $1,450,000 is intended to provide funds for local match for constructing the New Airport Terminal Facility Building. • $620,000 is intended to provide funds for local match for the construction of Airport Terminal East and West taxiways. • $100,000 is intended to provide funds for local match for a New Terminal Facility Aircraft Deice Fluid (ADF) Containment /Collection storage area. • $112,500 is intended to provide funds for the City's 15% cost share of the Federal Emergency Management Agency (FEMA) Flood Plain Buyout Program for properties sustaining substantial damage in the July 2011 flood event in the Catfish Creek flood plain along Old Mill Road and Manson Road. • $1,576,000 is intended to provide funds for sanitary sewer improvements including green alley ($50,000); 30" force main relocation around Old Public Works Garage ($850,000); Cedar Lift Station pump /generator /trailer ($225,000); green alley SEP project (180,000); Historic Millwork District complete streets ($125,000); Fox - Blackhawk sanitary sewer reconstruction ($95,000); and King Street sanitary sewer reconstruction ($51,000). • $407,000 is intended to provide funds for stormwater improvements including green alley ($34,000); 14th Street stormsewer reconstruction ($200,000); Historic Millwork District complete streets ($91,000); West 32nd detention basin improvement ($42,000); and Windsor storm extension ($40,000). • $1,850,000 is intended to provide funds for water improvements including water main replacements ($400,000); water main extensions ($125,000); fire hydrant replacements ($42,000); Asbury tank painting ($592,000); Bunker Hill pump station ($325,000); North plant softening basin renovation ($120,000); McAleece ballfield parking lot improvements ($91,000); Eagle Point Treatment plant pump room window replacement ($85,000); water audit ($50,000); and North plant motor control center upgrade ($20,000). • $118,000 is intended to provide funds for bond issuance costs and • $706,500 to be a contingency for fluctuations in the bond market for interest rates, bond issuance costs and change in project costs. Although the City is selling General Obligation Bonds to support the projects, repayments of the debt will be from tax increment revenues of Technology Park South, local option sales tax, DRA gaming lease revenue, Airport passenger facility charge revenue, parking fees, sanitary sewer fees, stormwater fees and water fees. RECOMMENDATION I respectfully recommend the adoption of the enclosed resolution fixing the date of May 7, 2012 for a public hearing on the proposition of selling not to exceed $8,650,000 in General Obligation Bonds for essential corporate purpose and providing publication of notice. JML Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Kenneth TeKippe, Finance Director 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 R. Mark Cory rcory ©ahlerslaw.com April 5, 2012 Mr. Kevin Firnstahl City Clerk City of Dubuque 50 West 13th Street Dubuque, Iowa 52001 -4864 RE: FY13 General Obligation Bond Proposals Dear Mr. Firnstahl: Direct Dial: (515)246 -0378 With this letter I am enclosing suggested Council proceedings to set hearings on the bond proposals required to finance the projects listed on the revised FY13 Bond List you provided to me recently. Because a variety of projects are contemplated, and because the publication requirements differ, I will address each of the proposals separately below. Each of the projects identified on the FY13 Bond List has been allocated to one of five bond proposals. To enable you to determine which projects are included in a particular proposal, I am enclosing a marked excerpt from the FY13 Bond List and an attached summary sheet indicating which projects are included under a particular bond proposal. The summary also illustrates how the hearing amounts were determined (the estimated costs of issuance amounts have been added for hearing purposes). The first Council resolution in the proceedings approves the summary and elects the proposed classifications and hearing procedures indicated, as permitted under Section 384.28 of the Iowa Code. If you have any questions or would like to revise any of these proposed classifications prior to Council action, please let me know. April 5, 2012 Page 2 Not to exceed $8,650,000 General Obligation Bonds (Misc. Essential Corporate Purpose Projects) 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 said public meeting. 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. Not to exceed $5,575,000 General Obligation Bonds - (Urban Renewal Projects) Not to exceed $700,000 General Obligation Bonds (General Corporate Purposes) Not to exceed $475,000 General Obligation Bonds (General Corporate Purposes) Not to exceed $600,000 General Obligation Bonds (General Corporate Purposes) In each case, notice of the 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 the public meeting on the issuance of the 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 any time before the date of the hearing, a petition may be filed with the City Clerk requesting that the issuance of bonds for the indicated purposes 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 in the last regular municipal election (but not less than ten persons). April 5, 2012 Page 3 Separate copies of the notices of hearing are enclosed to be completed by the City Clerk and delivered to the newspaper for publication purposes. In each instance, we would suggest that a printer's proof of the notice be obtained and reviewed prior to publication to ensure accuracy. As always, we would appreciate having certified copies of the enclosed proceedings returned to us following the Council's action for our transcript of the action taken, as well as copies of the publisher's affidavits with respect to the publication of the several notices involved once they become available. We will separately forward proceedings for the date of the public hearings. Please let me know once that date has been scheduled. If you have any questions concerning the enclosed proceedings, please don't hesitate to contact me. Very truly yours, R. Mark Cory RMC:dc encl. cc: Jenny Larson (w /encl.) Tionna Pooler (w /encl.) Ken TeKippe (w /encl.) 00859216 -1 \10422 -134 fire (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: April 16, 2012. 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: Not to exceed $8,650,000 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) a ttached 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 C erk, City of Dubuque, Iowa Gl� April 16, 2012 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 Pro -Tem Ric W. Jones in the chair, and the following named Council Members: _Karla Braig, Joyce Connors, Kevin Lynch, David Resnick, Lynn Sutton Absent: Mayor Roy D. Buol Council Member Kevin Lynch introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $8,650,000 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 David Resnick seconded the motion to adopt. The roll was called and the vote was, AYES: Lynch Resnick, Sutton, Braig, Connors, Jones NAYS: Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO. 96-12 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $8,650,000 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 $8,650,000, 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 7th day of May, 2012, for the purpose of taking action on'the matter of the issuance of not to exceed $8,650,000 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 reconstruction, extension and improvement of the Dubuque Regional Airport; E911 Tower relocation; equipping the municipal fire department; rehabilitation and improvement of existing City parks; FEMA land buyouts for the acquisition and demolition of abandoned, dilapidated or dangerous buildings, structures or properties, and the remediation of property and buildings damaged by a disaster under Iowa Code Section 29C.2 which are located in an area declared a disaster emergency by the President of the United States; acquisition, construction, extension and improvement of works and facilities useful for the collection, treatment and disposal of sewage and industrial waste and for the collection and disposal of surface water and streams; acquisition, construction, improvement, repair and equipping of the municipal water utility and real and personal property useful for providing potable water. 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 $8,650,000 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 7th day of May, 2012, 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 $8,650,000 General Obligation Bonds, for essential corporate purposes of said City, in order to provide funds to pay costs of reconstruction, extension and improvement of the Dubuque Regional Airport; E911 Tower relocation; equipping the municipal fire department; rehabilitation and improvement of existing City parks; FEMA land buyouts for the acquisition and demolition of abandoned, dilapidated or dangerous buildings, structures or properties, and the remediation of property and buildings damaged by a disaster under Iowa Code Section 29C.2 which are located in an area declared a disaster emergency by the President of the United States; acquisition, construction, extension and improvement of works and facilities useful for the collection, treatment and disposal of sewage and industrial waste and for the collection and disposal of surface water and streams; acquisition, construction, improvement, repair and equipping of the municipal water utility and real and personal property useful for providing potable water. 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 day of , 2012. City Clerk, City of Dubuque, Iowa (End of Notice) - 4 - PASSED AND APPROVED this 16th day of April, 2012. ATTEST: 5 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 16th day of April, 2012. (SEAL) 00858847 - 1110422 -134 City erk, City of Du • uque, S ate of Iowa CERTIFICATE STATE OF IOWA ) SS COUNTY OF DUBUQUE NAL I, the undersigned, do hereby certify that I am now and was at the tunes . 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 $8,650,000 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: April 20 , 2012. WITNESS my official signature at Dubuque, Iowa, this , 2012. (SEAL) 00858843 -1 \10422 -134 day of. NOTICEOPMEETJNG ; pus— puiidIngs;';strut= OF"THE CRY tures or properties, COUNCIL OFTHE - and-the remediation of • CITY OF DUBUQUE, , pr91341;r:,and buildings WOH da1naged, by',a:diswahsticehr, �Y1.1, A7TEILOFTG -?k%d•lowa''AviCode R OSEDd UANCEE Section 29C2 OF:NOTTO'EXCEED; ) are`.located in, an, area= $8,650,000.GENERAL ,declared:•, a_ ,ddisaster- OB'IGATIONBOI+NDS: eltcJe(lcy,, by -Ithe ,(FOR•ESSEN.TIAL, f, P.FRalgient pfit(ie United CORPORATE'. -R,N, State;:.: acquisition, PURPOSES)'oFTHE cdnstru'ction,;extension . CITY, AND and 'improvement of HEARING ON THE - works. , and facilities :ISSUANCE THEREOF' useful • for • ' the •`'`RP.IJBLIG': NOTICE•',is,!;:= collection, treatment, herebyxgiven ;that' the; • .and-disposal of sewaget . City, of Dubuque,, Iowa, +.aed'-,, industrial . waste will hold a •publi.c y+aq(d:',fop;#he, collection. hearing on the 7th day _ posal of surface of May,.'-Z012,• at.8:30 '` t ex,' :and, streams,, o'clock; •,P.M:;j•lin; the cquisit or;= . construes' •--Historid • , a Federal;• 'tion;' - Improvement, `. 7"Building, :35O - West•6tlf repair and equipping of 'Street,- Dubuque,'IoWa; - the municipal water at which meeting e,- <! utility ,and ". real' and • ,:1.Councll' proposes o personal:: property ,ake'additional actiontl °useful 'for providing � for the issuance of not -potable water. to exceed $8,650,000' At the above meeting' Iowa as provided by, ' General' " Obligation,' '.the Council. • shall `, - Section' 384.25' of the Bonds,- . for cesseRtial receive oral or written., . City Code of Iowa. ,r ' corporate ipurposes,af' 'objections, from any ` Any visual' l• or hearing said'City;,inlorder.to .resident • or property +impairedpegssonsneed- providd "funds •toy pay owner of the City, to f"r ingl'special''assistance 1„costs .of ". recopl- _.the,above,actio a Atter ' or persons With special struction, . •exten'sjo, o 60.6p /s/ 10,4 ,accessibility i' -needs an& lmprovement;'of be re_,ceG3' d �s,.aau8;4, 'should contact the Cfty.. `the,pubuque;•Reglon cp,nns��i` �r�d, Au�,9ll� Clerk's Office at (563)• Airport;,': E91-1 ' Towerr d1l atctthTs. mee%ng9foFa1 589 -4120- or Try (5639, — relocation;' equipping t a,n adjournment ; 690,6578 • st'',least, -49 the municipal fire Thereof, keadditional? ,hours prior . to, ,•_they 'department rehabill , ction for thiejissuance' , meeting, . • tation, and !,improve;, : 'Bonds o" .Will" - Dated this 2otth,d'ay,of , •:ment of - eXlsting -.City abandop✓.tl e'' ro sa , April, 2012. - 1' ' parks;. - FEMA' •gland ' oiiss'ue;,Bdn ri + Kevin. S. Firnstahl�-.! =* buyouts . 'for'' the j his uloti ds'igw by',' - .City Cleric, City ,of- , atquistibon and demo- order -" of 'the clty'';'Dubuque;.lawa' ' Rion `;..'‘of- abandoned,;. Cduncil'ot? the "CltyFof' 1't 4/20' " • dilapidated+ or dangerrt:� Dubuque, ,:State of, STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: April 20, 2012, and for which the charge is $33.67. Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this o% day of , 20/02 -' /�` Notary Public in and for Dubuque County, Iowa. MARY K. WEST ERhi:..-: 1cR !i Cornet S19n Iiur1! cr 1..5 1 >•