Sewer Revenue Capital Loan Notes Series 2010E AmendmentMasterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
kital
All- America City
II 111!
2012
SUBJECT: Procedure to Approve Revised Loan Documents Concerning the Increase
in the Principal Amount of the Sewer Revenue Capital Loan Note, Series
2010E, in order to Provide Funding for the Bee Branch Watershed Green
Infrastructure Project
DATE: April 10, 2013
Finance Director Ken TeKippe recommends City Council approval of the proceedings to
approve the revised loan documents concerning the increase in the principle amount of
the Sewer Revenue Capital Loan Note, Series 2010E in order to provide funding for the
Bee Branch Creek Watershed Green Infrastructure Project.
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa
Department of Natural Resources and the Iowa Finance Authority, awarded the City of
Dubuque $9.4 million for the City of Dubuque's Bee Branch Creek Watershed Green
Infrastructure Project. The funds are part of State Revolving Loan Fund's new Water
Resource Restoration effort, in which watershed protection projects are supported
through interest rate reductions on Clean Water State Revolving Loan Fund wastewater
loans. The funding for the $9.4 million in improvements will come from interest
payments on the City's State Revolving Loan Fund wastewater loan to complete the $64
million Water and Resource Recovery Center Project, which will be returned to the City
to fund the Bee Branch Creek Watershed Green Infrastructure Project. This
arrangement is the first under the Water Resource Restoration program and is a pilot
that the Department of Natural Resources and the Iowa Finance Authority will use to
determine how best to structure the program and make it available to communities
across the state in the future.
Green Infrastructure is an approach to stormwater management that is cost - effective,
sustainable, and environmentally friendly. Green Infrastructure management utilizes
approaches and technologies to infiltrate, evapotranspire, capture and reuse stormwater
to maintain or restore natural hydrology. The Bee Branch Creek Watershed Green
Infrastructure Project is scheduled to be completed over the next three years and will
augment Dubuque's stormwater management system, which includes the Carter Road
Detention Basin, 32nd Street Detention Basin, and the restoration of the Bee Branch
Creek.
The new resolution increases the outstanding principal amount from $64,885,000 to
$74,285,000 and decreases the interest rate from 3.00% to 1.75 %. The $9.4 million
increase will be used to install permeable interlocking concrete pavement in 73 alleys
located in the Bee Branch Watershed. Total debt service payments for the additional
debt ($9.4 million) will not increase from initial borrowing due to the interest rate
reduction.
The modifications to the original Series 2010E Note, consisting of the increase in the
principal amount and the change in the interest rate, are considered material
modifications under the federal tax exempt bond regulations, and will result in a "re-
issuance" of the Series 2010E Note.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Kenneth J. TeKippe, Finance Director
Jennifer Larson, Budget Director
2
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
DATE: April 9, 2013
SUBJECT: Procedure to Approve Revised Loan Documents Concerning the Increase in the Principal Amount of
the Sewer Revenue Capital Loan Note, Series 2010E, in order to Provide Funding for the Bee Branch
Watershed Green Infrastructure Project
INTRODUCTION
The purpose of this memorandum is to include proceedings to approve revised loan documents concerning the increase in
order to provide funding for the Bee Branch Watershed Green Infrastructure Project. This will permit additional funds for the
Bee Branch Watershed Green Infrastructure Project as a "sponsored project" under the Authority's new program. The
arrangement is the first underthe Water Resource Restoration program and is a "pilot" that Department of Natural Resources
and Iowa Finance Authority will use to determine how best to structure the program and make it available to communities
across the state in the future.
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa Department of Natural Resources and the
Iowa Finance Authority, awarded the City of Dubuque $9.4 million for the City of Dubuque's Bee Branch Watershed Green
Infrastructure Project. The funds are part of SRF's new Water Resource Restoration effort, in which watershed protection
projects are supported through interest rate reductions on Clean Water SRF wastewater loans. The funding for the $9.4
million in improvements will come from interest payments on the City's SRF wastewater loan to complete the $64 million
Water and Resource Recover Center Project which will be returned to the City to fund the Bee Branch Watershed Green
Infrastructure Project. This arrangement is the first underthe Water Resource Restoration program and is a pilot that the
DNR and IFAwill use to determine how best to structure the program and make it available to communities across the state
in the future.
Green Infrastructure is an approach to stormwater management that is cost - effective, sustainable, and environmentally
friendly. Green Infrastructure management utilizes approaches and technologies to infiltrate, evapotranspire, capture and
reuse stormwater to maintain or restore natural hydrology. The Bee Branch Watershed Green Infrastructure Project is
scheduled to be completed over the next three years and will augment Dubuque's stormwater management system, which
includes the Carter Road Detention Basin, 32nd Street Detention Basin, and the restoration of the Bee Branch Creek.
Aresolution amending the original Series Resolution No. 302 -10, approved on August 10,2010, approving new loan
documents, and authorizing the exchange of the original Series 2010E Note for a new note is required. This resolution also
rescinds the resolution approved in July 2012, which did not contemplate a revision to the interest rate, as it is no longer
necessary.
The resolution increases the outstanding principal amount from $64,885,000 to $74,285 p00, and changes the interest rate
from 3.00 %to 1.75 %. The $9.4 million increase will be used to install permeable interlocking concrete pavement in 73 alleys
located in the Bee Branch Watershed. Total debt service paymentsforthe additional debt ($9.4 million) will not increase from
initial borrowing due to the interest rate reduction.
The modifications to the original Series 2010E Note, consisting of the increase in the principal amount and the change in the
interest rate, are considered material modifications under the federal tax exempt bond regulations, and will result in a "re-
issuance" of the Series 2010E Note.
ACTION TO BE TAKEN
This should be the final City Council action required on the Note. A copy of a April 3, 2013 letter from Attorney William J.
Noth with information on the issue is enclosed.
Prepared by:
cc:
KT/eml
Enclosures
cc: Barry Lindahl, City Attorney
Jenny Larson, Budget Director
Kevin Firnstahl, City Clerk
AHLERS &COONEY, P.C.
ATTORNEYS AT LAW
100 COURT AVENUE ® SUITE 600
DES MOINES. IOWA 50304:2231
PHONE 515- 243-7611
FAX: 515.243-2149
W W W.AHLERSLAW.COM
WILLIAM.). NOTH
WNOTH @AHLERSLAW.COM
April 3, 2013
Mr. Ken TeKippe
Finance Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001
RE: Bee Branch Watershed Green Infrastructure Project
Dear Ken:
Direct Dial:
(515)246-0332
With this letter I am enclosing suggested City Council proceedings for the meeting
on April 15, 2013, to approve revised loan documents concerning the increase in the
principal amount of the Sewer Revenue Capital Loan Note, Series 2010E, in order to
provide funding for the Bee Branch Watershed Green Infrastructure Project. The
enclosures consist of the following:
1. Resolution amending the original Series Resolution No. 302 -10, approved
on August 10, 2010, approving new loan documents, and authorizing the exchange of the
original Series 2010E Note for a new note. This resolution also rescinds the resolution
approved in July 2012, which did not contemplate a revision to the interest rate, as it is no
longer necessary. Please return the "complete and return" copy of the Council
proceedings to us following Council action.
2. Sponsored Project Loan and Disbursement Agreement Amendment,
providing for the exchange of the original Series 2010E Note for the new note, bearing
interest at a new rate of 1.75 %. Please have all copies signed and returned to me. We
will provide you with a fully executed copy following the closing.
3. New Sewer Revenue Capital Loan Note, Series 2010E, in the principal
amount of $74,285,000, which will be exchanged for the original Series 2010E Note. A
highlighted copy is enclosed to illustrate where a signature or seal is needed. Please return
the Note to us to hold until the closing.
April 3, 2013
Page 2
4. Tax Exemption Certificate, dated as of the expected date of closing (April
26, 2013). This serves to update the Certificate executed at the time of issuance of the
original Series 2010E Note, and now includes references to the Bee Branch project.
Please execute both copies, and return the "complete and return" copy to us prior to the
closing.
5. Form 8038 -G, to be filed with the Internal Revenue Service. Please sign,
but do not date, and return to us with the above items.
The modifications to the original Series 2010E Note, consisting of the increase in
the principal amount and the change in the interest rate, are considered material
modifications under the federal tax exempt bond regulations, and will result in a
"re- issuance" of the Series 2010E Note. In general, this means that the new note must
comply with all of the tax exempt bond regulations as of its date of issuance, including the
requirement that the City certify to its reasonable expectations as to the use of proceeds of
the Note, and the filing of an informational return with the Internal Revenue Service.
As previously mentioned, we will need to deliver the signed loan documents to
IFA's legal counsel by Friday, April 19, 2013, in order to close the financing on April 26,
2013. I would therefore appreciate it if you would have the enclosed items signed and
sealed promptly after the City Council meeting and return them to me by overnight
delivery.
Should you have any questions, please don't hesitate to call.
Yours very truly,
William J. Noth
WJN:de
encl.
cc: Jenny Larson (w /encl.)
Barry Lindahl (w /encl.)
00935056 -1 \10422 -132
Governmental Body:
Date of Meeting:
Time of Meeting:
Place of Meeting:
J
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
The City Council of the City of Dubuque, Iowa.
April 15
, 2013
6:30 o'clock P .M.
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 said
meeting is as follows:
Series 2010E Sewer Revenue Capital Loan Note
Resolution Amending the Series Resolution (Resolution No. 302 -10)
approved on August 10, 2010, said Resolution approving and authorizing a
Loan and Disbursement Agreement by and between the City of Dubuque
and the Iowa Finance Authority and authorizing and providing for the
issuance of the $64,885,000 Sewer Revenue Capital Loan Note, Series
2010E, in order to provide for the funding of the Bee Branch Watershed
Green Infrastructure Project under the terms of a new Series 2010E Note in
the principal amount of $74,285,000
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 said governmental body.
City C -r , Dubuque, Iowa
April 15, 2013
The City Council 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, Lynn Sutton
Absent: David Resnick
* * * * * * * **
Council Member Connors introduced the following Resolution entitled
"RESOLUTION AMENDING THE SERIES RESOLUTION (RESOLUTION NO. 302-
10) APPROVED ON AUGUST 10, 2010, SAID RESOLUTION APPROVING AND
AUTHORIZING A LOAN AND DISBURSEMENT AGREEMENT BY AND
BETWEEN THE CITY OF DUBUQUE AND THE IOWA FINANCE AUTHORITY
AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF THE $64,885,000
SEWER REVENUE CAPITAL LOAN NOTE, SERIES 2010E, IN ORDER TO
PROVIDE FOR THE FUNDING OF THE BEE BRANCH WATERSHED GREEN
INFRASTRUCTURE PROJECT UNDER THE TERMS OF A NEW SERIES 2010E
NOTE IN THE PRINCIPAL AMOUNT OF $74,285,000 ", and moved its adoption.
Council Member Lynch seconded the motion to adopt. The roll was called and the vote
was:
AYES: Connors, Jones, Lynch, Resnick, Sutton, Braig, Buol
NAYS:
Whereupon the Mayor declared the following Resolution duly adopted:
2
RESOLUTION NO. 116 -13
RESOLUTION AMENDING THE SERIES RESOLUTION
(RESOLUTION NO. 302 -10) APPROVED ON AUGUST
10, 2010, SAID RESOLUTION APPROVING AND
AUTHORIZING A LOAN AND DISBURSEMENT
AGREEMENT BY AND BETWEEN THE CITY OF
DUBUQUE AND THE IOWA FINANCE AUTHORITY
AND AUTHORIZING AND PROVIDING FOR THE
ISSUANCE OF THE $64,885,000 SEWER REVENUE
CAPITAL LOAN NOTE, SERIES 2010E, IN ORDER TO
PROVIDE FOR THE FUNDING OF THE BEE BRANCH
WATERSHED GREEN INFRASTRUCTURE PROJECT
UNDER THE TERMS OF A NEW SERIES 2010E NOTE IN
THE PRINCIPAL AMOUNT OF $74,285,000
WHEREAS, pursuant to Resolution No. 302 -10 approved on August 10, 2010 (the
"Series Resolution "), the City of Dubuque (hereinafter the "Issuer ") previously issued its
Sewer Revenue Capital Loan Note, Series 2010E, dated August 18, 2010, to the extent of
$64,885,000 (hereinafter the "Original Note "), pursuant to a Loan and Disbursement
Agreement between Issuer and the Iowa Finance Authority dated of like date (the
"Agreement "), for the purpose of defraying the costs of the Project as defined in the
Series Resolution; and
WHEREAS, the Iowa Department of Natural Resources and the Iowa Finance
Authority ( "IFA "), as holder of the Original Note, have authorized an additional
"sponsored project," namely, the Bee Branch Watershed Green Infrastructure Project, to
be funded under the terms of a new note to be issued in the principal amount of
$74,285,000; and
WHEREAS, following a public hearing, this Council approved Resolution No.
201 -12 on July 16, 2012 (the "Prior Resolution "), authorizing an increase in the principal
amount of the Original Note from $64,885,000 to $74,285,000 but with no change in the
interest rate; and
WHEREAS, IFA now has informed the Issuer that the interest rate on the new
note will be 1.75 %, and has requested that the Original Note be exchanged for a new note
in the principal amount of $74,285,000 and bearing interest at the rate of 1.75% (the
"New Note "); and
-3
WHEREAS, pursuant to IRS regulations adoption of the Amendment constitutes a
reissuance of the Original Note.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IN THE COUNTY OF DUBUQUE, STATE OF IOWA:
Section 1.
Section 2.
Section 3.
Section 4.
That the Series Resolution be and is hereby amended to reflect the
increase in the outstanding principal amount thereof from
$64,885,000 to $74,285,000, and a change in the interest rate from
3.00% to 1.75 %.
That the Amendment in substantially the form attached to this
Resolution and the New Note are hereby authorized to be executed
and issued on behalf of the Issuer by the Mayor and attested by the
City Clerk.
That the Finance Officer be and is hereby authorized and directed to
execute a tax certificate with respect to the reasonable expectations
of the City concerning the Project and a related IRS Form 8038 -G,
and cause the same to be timely filed with the Internal Revenue
Service.
Except as amended herein, all of the other terms and conditions of
the Series Resolution and Agreement are in all respects ratified,
confirmed and approved and shall remain in full effect, including all
tax covenants contained therein. The Prior Resolution, being no
longer necessary, is hereby rescinded.
4
PASSED AND APPROVED this 15th day of April
2013.
Mayor 7'
ATTEST:
4,
CERTIFICATE
STATE OF IOWA
) SS
COUNTY OF DUBUQUE
CIG -3
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 16th day
of April, 2013.
City re k, Dubuqu-, Iowa
(SEAL)
00934807 -1 \10422 -132
ROLL CALL ORDER FOR MEETING OF 4/15/2013
Connors, Jones, Lynch, Resnick, Sutton, Braig, Buol
CITY OF DUBUQUE, IOWA
CITY COUNCIL MEETING
Historic Federal Building
April 15, 2013
Council meetings are video streamed live and archived at
www.cityofdubuaue.ora /media and on Dubuque's CityChannel on the
Mediacom cable system at Channel 8 (analog) and 97.2 (digital).
REGULAR SESSION
6:30 PM
PLEDGE OF ALLEGIANCE
MOMENT OF SILENCE
May the spirit of wisdom keep our hearts and minds open as we endeavor to serve the common good.
PROCLAMATION(S)
1. Young Professionals Community Days of Caring Day (April 16, 2013)
YP Days of Caring Proclamation
2. Laughter Day (May 5, 2013)
Laughter Dav Proclamation
CONSENT ITEMS
The consent agenda items are considered to be routine and non - controversial and all consent items will be normally voted upon in a single
motion without any separate discussion on a particular item. If you would like to discuss one of the Consent Items, please go to the microphone
and be recognized by the Mayor and state the item you would like removed from the Consent Agenda for separate discussion and
consideration.
1. Minutes and Reports Submitted
Arts and Cultural Affairs Advisory Commission of 1/22, City Council proceedings of 4/8, Civil Service Commission of 4/18, Electrical
Code Board of 3/25, Historic,Preservation Commission of 3/21, Historic Preservation Commission Education Task Force of 4/4, Library
Board of Trustees Update of 3/28, Long Range Planning Advisory Commission of 3/20, Park and Recreation Advisory Commission of
3/12, Zoning Board of Adjustment of 3/28, Proof of Publication for City Council proceedings of 3/18, Proof of Publication for List of
Claims and Summary of Revenues for month ended 2/28
Suggested Disposition: Receive and File
Arts Commission Minutes 1/22 Civil Service Minutes 4/18, Electrical Board Minutes 3/25 Historic Preservation Minutes 3/21 Historic
Preservation TF Minutes 4/4 Library Board Update 3/28, Long Range Planning Minutes 3/20 Park and Rec Minutes 3/12 Zoning Board of
Adjustment Minutes 3/28 Proof - City Council Proceedings 3/18 Proof - List of Claims /Revenues 2/28
2. Notice of Claims and Suits
Candy Hirsch for personal injury; William Latham for property damage; Anna Mae McClain for vehicle damage; Turbin Dodge Chrysler
Jeep for vehicle damage
Suggested Disposition: Receive and File; Refer to City Attorney
Hirsch Claim Latham Claim McClain Claim Turbin Dodge Claim
3. Disposition of Claims
City Attorney advising that the following claims have been referred to Public Entity Risk Services of Iowa, the agent for the Iowa
Communities Assurance Pool: Candy Hirsch for personal injury; Lee Latham for property damage; Anna Mae McClain for vehicle
damage; Robert Piel, Sr. for personal injury; Turpin Dodge Chrysler Jeep for vehicle damage
Suggested Disposition: Receive and File; Concur
ICAP Claims
Pg. 1
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
Dubuque
2007
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,400,000 Sewer Revenue Capital Loan Notes (State Revolving Fund
Sponsored Project)
DATE: June 25, 2012
Budget Director Jennifer Larson recommends that a public hearing be set for July 16,
2012 on the proposition of issuing not to exceed $9,400,000 in Sewer Revenue Capital
Loan Notes, (State Revolving Fund Sponsored Project), the proceeds of which will be
used to convert forty alleys and two parking Tots to pervious pavement to improve water
quality and augment the City's stormwater management system and the Bee Branch
Creek Restoration Project. The purpose of the hearing is to establish authority for
amending the City's Series 2010E Sewer Note with the Iowa Finance Authority which
will permit additional funds for the Bee Branch Watershed Green Infrastructure Project
as a "sponsored project" under the Authority's new program.
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa
Department of Natural Resources and the Iowa Finance Authority, awarded the City of
Dubuque $9.4 million for the City of Dubuque's Bee Branch Watershed Green
Infrastructure Project. The funds are part of SRF's new Water Resource Restoration
effort, in which watershed protection projects are supported through interest rate
reductions on Clean Water SRF wastewater loans. The funding for the $9.4 million in
improvements will come from interest payments on the City's SRF wastewater loan to
complete the $64 million Water and Resource Recover Center Project which will be
returned to the City to fund the Bee Branch Watershed Green Infrastructure Project.
This arrangement is the first under the Water Resource Restoration program and is a
pilot that the DNR and IFA will use to determine how best to structure the program and
make it available to communities across the state in the future.
The funds will allow the City of Dubuque to install permeable interlocking concrete
pavement in 40 alleys (2.6 linear miles) and two parking Tots (1.13 acres) located in the
Bee Branch Watershed, which covers approximately 6.5 square miles from
approximately 9th Street north to 32nd Street and from the Mississippi River west to
Asbury Road. When constructed, the 42 locations will total approximately 268,000
square feet (6.2 acres) of pervious pavement. The project's estimated total cost is $9.42
million and will result in approximately 750,000 cubic feet of runoff water and 2,400
pounds of sediment per year going into the ground rather than the Mississippi River.
Models predict this project could reduce the solids sent to the river by 67 percent and
runoff volume by 50 percent.
Section 384.83 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 loan, to the District
Court of a county in which any part of the City is located, within fifteen 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.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Licive4
w�,
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
Gus Pshoyos, City Engineer
Deron Muehring, Civil Engineer II
2
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Budget Director
Dubuque
s
All-America City
2007
SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed
$9,400,000 Sewer Revenue Capital Loan Notes (State Revolving Fund
Sponsored Project)
DATE: June 25, 2012
INTRODUCTION
The purpose of this memorandum is to recommend the setting of a public hearing on
the proposal to issue not to exceed $9,400,000 Sewer Revenue Capital Loan Notes
(State Revolving Fund Sponsored Project), the proceeds of which will be used to
convert forty alleys and two parking lots to pervious pavement to improve water quality
and augment the City's stormwater management system and the Bee Branch Creek
Restoration Project. The purpose of the hearing is to establish authority for amending
the City's Series 2010E Sewer Note with the Iowa Finance Authority which will permit
additional funds for the Bee Branch Watershed Green Infrastructure Project as a
"sponsored project" under the Authority's new program. A letter from attorney Mark Cory
detailing information on the bond hearing is enclosed.
DISCUSSION
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa
Department of Natural Resources and the Iowa Finance Authority, awarded the City of
Dubuque $9.4 million for the City of Dubuque's Bee Branch Watershed Green
Infrastructure Project. The funds are part of SRF's new Water Resource Restoration
effort, in which watershed protection projects are supported through interest rate
reductions on Clean Water SRF wastewater loans. The funding for the $9.4 million in
improvements will come from interest payments on the City's SRF wastewater loan to
complete the $64 million Water and Resource Recover Center Project which will be
returned to the City to fund the Bee Branch Watershed Green Infrastructure Project.
This arrangement is the first under the Water Resource Restoration program and is a
pilot that the DNR and IFA will use to determine how best to structure the program and
make it available to communities across the state in the future.
The funds will allow the City of Dubuque to install permeable interlocking concrete
pavement in 40 alleys (2.6 linear miles) and two parking lots (1.13 acres) located in the
Bee Branch Watershed, which covers approximately 6.5 square miles from
approximately 9th Street north to 32nd Street and from the Mississippi River west to
Asbury Road. When constructed, the 42 locations will total approximately 268,000
square feet (6.2 acres) of pervious pavement. The project's estimated total cost is $9.42
million and will result in approximately 750,000 cubic feet of runoff water and 2,400
pounds of sediment per year going into the ground rather than the Mississippi River.
Models predict this project could reduce the solids sent to the river by 67 percent and
runoff volume by 50 percent.
Section 384.83 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 loan, to the District
Court of a county in which any part of the City is located, within fifteen 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.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution fixing the date of July
16, 2012 for a public hearing on the proposition of issuing not to exceed $9,400,000 in
Sewer Revenue Capital Loan Notes (State Revolving Fund Sponsored Project) for the
purpose of reconstructing thirty -nine alleys and constructing two parking lots with
permeable interlocking concrete pavement as well as reconstructing underground
utilities at forty -two locations within the Bee Branch Watershed and providing publication
of notice.
JML
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth TeKippe, Finance Director
Gus Pshoyos, City Engineer
Deron Muehring, Civil Engineer II
2
Masterpiece on the Mississippi
Dubuque
�aa
All -Amer ca Cily
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings for Public Hearing on the Issuance of Not to Exceed
$9,400,000 Sewer Revenue Capital Loan Notes (State Revolving Fund
Sponsored Project)
DATE: July 6, 2012
Budget Director Jennifer is recommending City Council approval of the suggested
proceedings for the public hearing on the issuance of Sewer Revenue Capital Loan
Notes, (State Revolving Fund Sponsored Project) prepared by 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 $9,400,000 Sewer Revenue
Capital Loan Notes."
The proceeds of which will be used to convert forty alleys and two parking lots to
pervious pavement to improve water quality and augment the City's stormwater
management system and the Bee Branch Creek Restoration Project. The purpose of
the hearing is to establish authority for amending the City's Series 2010E Sewer Note
with the Iowa Finance Authority which will permit additional funds for the Bee Branch
Watershed Green Infrastructure Project as a "sponsored project" under the Authority's
new program.
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa
Department of Natural Resources and the Iowa Finance Authority, awarded the City of
Dubuque $9.4 million for the City of Dubuque's Bee Branch Watershed Green
Infrastructure Project (attachment 1). The funds are part of SRF's new Water Resource
Restoration effort, in which watershed protection projects are supported through interest
rate reductions on Clean Water SRF wastewater loans. The funding for the $9.4 million
in improvements will come from interest payments on the City's SRF wastewater loan to
complete the $64 million Water and Resource Recover Center Project which will be
returned to the City to fund the Bee Branch Watershed Green Infrastructure Project.
This arrangement is the first under the Water Resource Restoration program and is a
pilot that the DNR and IFA will use to determine how best to structure the program and
make it available to communities across the state in the future.
The funds will allow the City of Dubuque to install permeable interlocking concrete
pavement in 40 alleys (2.6 linear miles) and two parking Tots (1.13 acres) located in the
Bee Branch Watershed, which covers approximately 6.5 square miles from
approximately 9t" Street north to 32nd Street and from the Mississippi River west to
Asbury Road. When constructed, the 42 locations will total approximately 268,000
square feet (6.2 acres) of pervious pavement. The project's estimated total cost is $9.42
million and will result in approximately 750,000 cubic feet of runoff water and 2,400
pounds of sediment per year going into the ground rather than the Mississippi River.
Models predict this project could reduce the solids sent to the river by 67 percent and
runoff volume by 50 percent.
The proceedings are prepared to show as a first step the receipt of any oral or written
objections from any resident or property owner to the proposed action of the Council to
issue the Bonds. A summary of objections received or made, if any, should be attached
to the proceedings. After all objections have been received and considered if the
Council decides not to abandon the proposal to issue the Bonds, a form of resolution
follows that should be introduced and adopted, entitled "Resolution Instituting
Proceedings to Take Additional Action for the Issuance of not to exceed $9,400,000
Sewer Revenue Capital Loan Notes."
Section 384.83 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 loan, to the District
Court of a county in which any part of the City is located, within fifteen 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.
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.
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
Gus Pshoyos, City Engineer
Deron Muehring, Civil Engineer II
2
Masterpiece on the Mississippi
Dubuque
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Proceedings for Public Hearing on the Issuance of Not to Exceed
$9,400,000 Sewer Revenue Capital Loan Notes (State Revolving Fund
Sponsored Project)
DATE: July 6, 2012
Budget Director Jennifer is recommending City Council approval of the suggested
proceedings for the public hearing on the issuance of Sewer Revenue Capital Loan
Notes, (State Revolving Fund Sponsored Project) prepared by 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 $9,400,000 Sewer Revenue
Capital Loan Notes."
The proceeds of which will be used to convert forty alleys and two parking lots to
pervious pavement to improve water quality and augment the City's stormwater
management system and the Bee Branch Creek Restoration Project. The purpose of
the hearing is to establish authority for amending the City's Series 2010E Sewer Note
with the Iowa Finance Authority which will permit additional funds for the Bee Branch
Watershed Green Infrastructure Project as a "sponsored project" under the Authority's
new program.
On June 19, 2012, the State Revolving Loan Fund, a joint program of the Iowa
Department of Natural Resources and the Iowa Finance Authority, awarded the City of
Dubuque $9.4 million for the City of Dubuque's Bee Branch Watershed Green
Infrastructure Project (attachment 1). The funds are part of SRF's new Water Resource
Restoration effort, in which watershed protection projects are supported through interest
rate reductions on Clean Water SRF wastewater loans. The funding for the $9.4 million
in improvements will come from interest payments on the City's SRF wastewater loan to
complete the $64 million Water and Resource Recover Center Project which will be
returned to the City to fund the Bee Branch Watershed Green Infrastructure Project.
This arrangement is the first under the Water Resource Restoration program and is a
pilot that the DNR and IFA will use to determine how best to structure the program and
make it available to communities across the state in the future.
The funds will allow the City of Dubuque to install permeable interlocking concrete
pavement in 40 alleys (2.6 linear miles) and two parking Tots (1.13 acres) located in the
Bee Branch Watershed, which covers approximately 6.5 square miles from
approximately 9t" Street north to 32nd Street and from the Mississippi River west to
Asbury Road. When constructed, the 42 locations will total approximately 268,000
square feet (6.2 acres) of pervious pavement. The project's estimated total cost is $9.42
million and will result in approximately 750,000 cubic feet of runoff water and 2,400
pounds of sediment per year going into the ground rather than the Mississippi River.
Models predict this project could reduce the solids sent to the river by 67 percent and
runoff volume by 50 percent.
The proceedings are prepared to show as a first step the receipt of any oral or written
objections from any resident or property owner to the proposed action of the Council to
issue the Bonds. A summary of objections received or made, if any, should be attached
to the proceedings. After all objections have been received and considered if the
Council decides not to abandon the proposal to issue the Bonds, a form of resolution
follows that should be introduced and adopted, entitled "Resolution Instituting
Proceedings to Take Additional Action for the Issuance of not to exceed $9,400,000
Sewer Revenue Capital Loan Notes."
Section 384.83 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 loan, to the District
Court of a county in which any part of the City is located, within fifteen 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.
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.
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
Gus Pshoyos, City Engineer
Deron Muehring, Civil Engineer II
2