Bonds Main St ReconstructionMEMORANDUM
January 15,2002
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
Bond Sale to Support Main Street Reconstruction Project
Finance Director Ken TeKippe recommends the sale of General Obligation Bonds to
support the Main Street Reconstruction Project - 5th to 9th Streets. Although we are
selling General Obligation Bonds to support the project, repayment of the debt will be
from Downtown TIF District revenues, it is further recommended that a public hearing
be set for February 4, 2002, on the proposition of selling not to exceed $1,000,000 in
General Obligation Bonds.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Miiligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
O--
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
SUBJECT:
DATE:
Michael C. Van Milligen, City Manager
Kenneth J. T eKippe, Finance Director
Bond Sale to Support Main Street Roconstruction Project
January 14, 2002
The purpose of this memorandum is to recommend the sale of General Obligation
Bonds to support the Main Street Reconstruction Project - 5th to 9th Streets. Although
we are selling General Obligation Bonds to support the project, repayment of the debt
will be from Downtown TIF District revenues. 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
on the issuance of said Bonds.
The requested action steps for City Council is to adopt the attached resolution fixing the
date for February 4, 2002 for a public hearing on the proposition of selling not to exceed
$1,000,000 in General Obligations Bonds (for an essential corporate purpose) of
Dubuque, Iowa and providing for publication of notice thereof.
KJT/gmm
Attachments
cc: Barry Lindahl
Pauline Joyce
Jeanne Schneider
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETiNG
Governmental Body:
Date of Meet'rog:
Time of Meeting:
Place of Meeting:
The City Council of Dubuque, Iowa.
,2002.
o'clock .M.
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 $1,000,000 General Obligation Bonds:
· Resolution fixing date for a meet'mg 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
,2002
The City Council of Dubuque, Iowa, met in
Auditorium, Carnegie-Stout Public Library, Dubuque, Iowa, at
on the above date. There were present Mayor
chair, and the following named Council Members:
session, in the
o'clock __.M.,
~ in the
· Absent:
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Council Member Buol introduced the following Resolution
entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION
OF THE ISSUANCE OF NOT TO EXCEED $1,000,000 GENERAL OBLIGATION
BONDS (FOR AN ESSENTIAL CORPORATE PURPOSE) OF DUBUQUE, IOWA,
AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and moved that
the same be adopted. Council Member Ni chol son seconded the motion
to adopt. The roll was called and the vote was,
AYES: Cline, Connors, Markham, Michalski,
Nicholson, Buol
NAYS:
Pro-Te
Whereupon, the Mayor declar~l the resolution duly adopted as follows:
RESOLUTION NO. 29-02
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO
EXCEED $1,000,000 GENERAL OBLIGATION BONDS
(FOR AN ESSENTIAL CORPORATE PURPOSE) 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 $1,000,000, as
authorized by Section 384.25 of the City Code of Iowa, for the purpose of providing
funds to pay costs of carrying out an essential corporate purpose project 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 to receive oral and/or written objections from any resident or
property owner of said City to such action.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That this Council meet in the Auditorium, Carnegie-Stout Public
Library, Dubuque, Iowa, at 6:30 o'clock__P.M., on the 21st day of
January ~ 2002, for the purpose of taking action on the matter of the
issuance of not to exceed $1,000,000 General Obligation Bonds for an essential
corporate purpose of said City, the proceeds of which bonds will be used to provide
funds to pay costs of construction and reconstruction of street, sidewalk, utility and
streetscape improvements relating to the opening of Main Street from 5th to 9th Streets.
Section 2. That the Clerk is hereby directed to cause at least one publication to be
made ora 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 four clear days nor more than twenty 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:
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NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF
DUBUQUE, IOWA, ON TH~ MATTER OF THE PROPOSED
ISSUANCE OF NOT TO EXCEED $1,000,000 GENERAL
OBLIGATION BONDS (FOR AN ESSENTIAL CORPORATE
PURPOSE) OF SAID CITY, AND THE HEARING ON THE ISSUANCE
THEREOF
PUBLIC NOTICE is hereby given that the Council of the City o£Dubuque, Iowa,
will hold a public hearing on the 4th day of February ,2002, at
6:30 o'clock P.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 $1,000,000 General Obligation Bonds for an essential corporate purpose of
said City, in order to provide funds to pay costs of construction and reconstruction of
street, sidewalk, utility and streetscape improvements relating to the opening of Main
Street l~om 5th to 9th Streets,
At the above meeting the Council shall receive oral or written objections from any
resident or property 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.
This notice is given by order of the Council of Dubuque, Iowa, as provided by
Section 384.25 of the City Code of Iowa.
Dated this 21st day of January ,2002.
City Clerk of Dubuque, Iowa
(End of Notice)
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PASSED AND APPROVED this
2002.
ATTEST:
Jeanne F. Schneider,
21 st day of January
Ann E.Michalski
Mayor Pro-Tem
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CIG-3
9/91
CERTIFICATE
STATE OF IOWA
COUNTY OF DUBUQUE
)
) ss
)
I, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a tree and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a hue 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
21st dayof January ~ 2002.
SEAL
DCORN ELL\306543\10422058
City Clerk, Dubuque, Iowa
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