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Stormwater Utility Revenue Capital Loan Notes $34M (Iowa Water Pollution Control) Copyright 2014 City of Dubuque Items to be set for Public Hearing # 1. ITEM TITLE: Stormwater Utility Revenue Capital Loan Notes (Iowa Water Pollution Control Works Financing Program) SUMMARY: City Manager recommending that a public hearing be set for May 18, 2015, on the proposition of selling not to exceed $34,000,000 in Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program) to pay costs for the Upper Bee Branch Creek Restoration. RESOLUTION Fixing date for a meeting on the authorization of one or more Loan and Disbursement Agreements and the issuance of not to exceed $34,000,000 Stormwater Utility Revenue Capital Loan Notes of the City of Dubuque, Iowa, and providing for publication of notice thereof SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s), Set Public Hearing for 5/18/15 ATTACHMENTS: Description Type Proceedings to Set Public Hearing on Issuance of Not to Exceed ❑ $34,000,000 Stormwater Utiity Revenue Capital Loan Notest-MVM City Manager Memo Memo ❑ Staff Memo Staff Memo ❑ Ahlers&Cooney, P.C. letter Supporting Documentation ❑ Resolution Resolutions THE CITY OF Dubuque U E I erica .i Masterpiece on the Mississippi 2007-2012-2013 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 $34,000,000 Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program) DATE: April 29, 2015 Finance Director Ken TeKippe recommends that a public hearing be set for May 18, 2015, on the proposition of selling not to exceed $34,000,000 in Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program) to pay costs for the Upper Bee Branch Creek Restoration. These notes would be payable from Stormwater Utility fees and also the amounts deposited in the Additional Projects Account of the Flood Project Fund, which would include sales tax increment received from the State Flood Mitigation Program. There is an additional benefit to this loan. On December 16, 2014 the City of Dubuque's proposal for a Catfish Creek Watershed sponsored project was approved by the Environmental Protection Commission. The Upper Bee Branch Creek State Revolving Fund financing will provide the City of Dubuque $1,400,000 for the Catfish Creek sponsored project at no additional cost to the City of Dubuque. This Upper Bee Branch Creek SRF Loan amount and interest rate will be adjusted by the Iowa Finance Authority, which will allow the City to use approximately $1,400,000 for Catfish Creek Improvements. The semiannual payment for the State Revolving Funds Capital Loan Notes will remain the same. This was similar to the $9.4 million State Revolving Loan Fund borrowing for the Water and Resource Recovery Center that provided for the creation of over 70 pervious surface alleys in the Bee Branch Watershed. You will recall that this $9.4 million was the first time the State had approved a sponsored project, even though the enabling State legislation had been adopted three years earlier. Now awards for these projects are more routine. The State Revolving Fund Loan for the Upper Bee Branch also qualifies for the State Revolving Fund Green Project Forgivable Program. Of the not to exceed $34,000,000 Capital Loan Notes, $4,430,100 is forgivable if the project is constructed as required. The State Revolving Capital Loan Notes will carry an annual 1 .75% interest rate for 20 years, with an annual servicing fee of 0.25%. There is also a onetime 0.5% upfront loan origination fee. I concur with the recommendation and respectfully request Mayor and City Council approval. ' Micliael 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 Gus Psihoyos, City Engineer Deron Muehring, Civil Engineer Steve Brown, Project Manager Alexis Steger, Confidential Account Clerk 2 THE MY OF Dubuque DUB E �il�r Masterpiece on the Mississippi .mu. TO: Michael C. Van Milligen, City Manager FROM: Kenneth TeKippe, Finance Director SUBJECT: Proceedings to Set Public Hearing on the Issuance of Not to Exceed $34,000,000 Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program) DATE: April 28, 2015 INTRODUCTION The purpose of this memorandum is to recommend the setting of a public hearing on the proposal to issue Stormwater Utility Revenue Capital Loan Notes, the proceeds of which will be used to pay costs for the Upper Bee Branch Creek Restoration. A letter from attorney William Noth detailing information on the bond hearing is enclosed. DISCUSSION In September 2012, the City was informed by the U.S. Economic Development Administration that the application for the Bee Branch Disaster Resiliency Project was selected through EDA's competitive application review process for further consideration for funding in the amount of $1,227,138. In order to have the EDA further consider the application for funding, the City had to provide additional information. The additional information required information about the local match, including what type of debt would be issued and the timing of the issuance of any such debt for the project. On June 17, 2013, the City Council held a public hearing and took additional action for the issuance of not to exceed $14,767,000 Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program), the proceeds of which were to be used to pay costs associated with the construction of the Bee Branch Disaster Resiliency Project. This action was taken to satisfy the Economic Development Administration grant ("EDA Grant") requirement that the local match for the EDA Grant be fully committed and readily available. A year later, the design of the waterway to flow beneath the Canadian Pacific Railroad was evaluated and it was determined that a culvert would pass the Bee Branch Creek beneath the railroad tracks instead of the originally designed bridge. The culvert became an eligible element to be funded with the State Revolving Loan fund. The City had also been approved for $98,494,178 in Sales Tax increment funding from the State Flood Mitigation Program on December 4, 2013. The sales tax increment became a secondary source of income to pay the State Revolving Funds Loan that the City was to issue for the Bee Branch Creek Restoration Project. Therefore, on June 16, 2014 City Council held a public hearing and took additional action for the issuance of not to exceed $30,000,000 Sales Tax Increment Revenue Bonds in lieu of the not to exceed $14,767,000 Stormwater Utility Revenue Capital Loan Notes. These bonds have not been issued and it is now advisable that the City of Dubuque should provide for the authorization of one or more Loan and Disbursement Agreements and the issuance of Stormwater Utility Revenue Capital Loan Notes, in the amount of not to exceed $34,000,000 for the purpose of providing funds to pay costs for the Upper Bee Branch Creek Restoration. These notes would be payable from Stormwater Utility fees and also the amounts deposited in the Additional Projects Account of the Flood Project Fund, which would include sales tax increment received from the State Flood Mitigation Program. On December 16, 2014 the City of Dubuque's proposal for a Catfish Creek Watershed sponsored project was approved by the Environmental Protection Commission. The Upper Bee Branch Creek State Revolving Fund financing will provide the City of Dubuque $1 ,400,000 for the Catfish Creek sponsored project at no additional cost to the City of Dubuque. The Iowa Finance Authority will provide an increase loan amount with a reduced interest rate on the first Upper Bee Branch Creek SRF Loan, which will allow the City to use approximately $1 ,400,000 for Catfish Creek Improvements. The semi- annual payment for the State Revolving Funds Capital Loan Notes will remain the same. The loan purposes now include funding for a "sponsored project", namely the Catfish Creek Watershed Improvements. The State Revolving Fund Loan for the Upper Bee Branch also qualifies for the State Revolving Fund Green Project Forgivable Program. Of the not to exceed $34,000,000 Capital Loan Notes, $4,430,100 is forgivable if the project is constructed as required. The State Revolving Capital Loan Notes will carry an annual 1 .75% interest rate for 20 years, with an annual servicing fee of 0.25%. There is also a onetime 0.5% upfront loan origination fee. ACTION TO BE TAKEN I respectfully recommend the adoption of the enclosed resolution fixing the date of May 18, 2015 for a public hearing on the proposition of selling not to exceed $34,000,000 in Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program) to pay costs for the Upper Bee Branch Creek Restoration and providing publication of notice. KT/AS/eml Attachments cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodman, Assistant City Manager Jenny Larson, Budget Director AHLERS &COONEY, P.C. 100 COURT AVENUE.SUITE 600 DES MOINES,IOWA 50309-2231 PH 0 N E:515-243-7611 FAX:515-243-2149 WWW.AHLERSLAW.COM William J.Noth Direct Dial: wnoth@ahlerstaw.com (515)246-0332 April 27, 2015 Ms. Jenny Larson Budget Director City of Dubuque 50 West 13th Street Dubuque, Iowa 52001 RE: Not to exceed $34,000,000 Stormwater Utility Revenue Capital Loan Notes (Iowa Water Pollution Control Works Financing Program) Dear Ms. Larson: We have now prepared and are enclosing herewith suggested proceedings to be acted upon by the City Council in fixing the date of a meeting on the proposition to issue the above mentioned Capital Loan Note and ordering publication of a notice of hearing consistent with the provisions of Code Sections 384.24A and 384.83. This action is intended as a substitute for the loan agreement and bond proposals that were the subject of public hearings held in June 2013 (not to exceed $14,767,000 Stormwater Utility Revenue Capital Loan Notes) and June 2014 (not to exceed $30,000,000 Sales Tax Increment Bonds), and which have not been issued. This proposal also includes funding for a "sponsored project," namely the Catfish Creek Watershed Improvements. As you know, the borrowing of loan funds by the City through the Iowa Water Pollution Control Works Financing Program ("SRF Program") involves the same procedures applicable to the issuance and sale of municipal bonds generally. In this instance, the Iowa Finance Authority (the "Authority") has agreed to make the City a low-interest loan under the terms of a Loan and Disbursement Agreement, which will be secured and evidenced by a Stormwater Utility Revenue Capital Loan Note that will be issued to the Authority at the time the loan is closed. WISHARD&BAILY-1888;GUERNSEY&BAILY-1893;GAILY&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 April 27, 2015 Page 2 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. 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. Should you have any questions concerning the enclosed proceedings or the SRF Program, please don't hesitate to contact me. Very truly yours, William J. Noth FOR THE FIRM WJN:dc Enclosures cc: Barry Lindahl (w/encl.) Ken TeKippe (w/encl.) Alexis Steger (w/encl.) Tionna Pooler (w/encl.) 01106022-1\10422-146 (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: May 4 , 2015. . 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 $34,000,000 Stormwater Utility Revenue Capital Loan Notes. • Resolution fixing date for a meeting on the proposition to authorize one or more Loan and Disbursement Agreements and the issuance of Notes to evidence the obligations of the City thereunder. Such additional matters as are set forth on the additional 7 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. C.- �i!/iso City erk, City of Dubueee Iowa May 4, 2015 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 Roy D. Buol in the chair, and the following named Council Members: Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch David Resnick, Lynn Sutton Absent: Council Member Lynch introduced the following Resolution entitled "RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF ONE OR MORE LOAN AND DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF NOT TO EXCEED $34,000,000 STORMWATER UTILITY REVENUE CAPITAL LOAN NOTES 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: Jones, Braig, Lynch Sutton NAYS: Resnick, Buo1, Connors Whereupon, the Mayor declared the Resolution duly adopted as follows: RESOLUTION NO. 150-15 RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF ONE OR MORE LOAN AND DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF NOT TO EXCEED S34,000,000 STORMWATER UTILITY REVENUE CAPITAL LOAN NOTES OF THE CITY OF DUBUQUE, IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, on June 17, 2013, the City Council held a public hearing and took additional action for the issuance of not to exceed $14,767,000 Stormwater Utility Revenue Capital Loan Notes (State Revolving Loan Fund Program), the proceeds of which were to be used to pay costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Stonnwater Management Utility, including those costs associated with the construction of the Bee Branch Disaster Resiliency Project; and WHEREAS, the foregoing action was taken to satisfy the Economic Development Administration grant ("EDA Grant") requirement that the local match for the EDA Grant be fully committed and readily available; and WHEREAS, it was subsequently deemed necessary and advisable that, in lieu of the above-described Stormwater Utility Revenue Capital Loan Notes, the City of Dubuque, Iowa should issue Sales Tax Increment Revenue Bonds to the Iowa Finance -2- Authority under the State Revolving Fund Loan Program, to the amount of not to exceed $30,000,000, as authorized by Section 418.14 of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out certain flood mitigation projects and to provide the local match for the EDA Grant; and WHEREAS, on June 16, 2014, this Council held a public hearing and took additional action for the issuance of not to exceed $30,000,000 Sales Tax Increment Revenue Bonds for the foregoing purposes; and WHEREAS, such Bonds have not been issued and it is now deemed necessary and advisable that the City of Dubuque, Iowa should provide for the authorization of one or more Loan and Disbursement Agreements and the issuance of Stormwater Utility Revenue Capital Loan Notes, in the amount of not to exceed $34,000,000, as authorized by Sections 384.24A and 384.83, Code of Iowa, as amended, for the purpose of providing funds to pay costs as hereinafter described; and WHEREAS, the City has applied for a loan through the Iowa Water Pollution Control Works Financing Program pursuant to which the Iowa Finance Authority has agreed to purchase the City's Notes and has requested that such Notes be issued as single Notes in a denomination equal to the total amount of the issue as authorized by Chapter 384 of the Code of Iowa; and WHEREAS, the Loan and Disbursement Agreements and Notes shall be payable out of the net earnings of the Stormwater Management Utility and shall be a first lien on the future net earnings of the Utility and, in the discretion of the City. Council, from amounts on deposit in the Additional Projects Account of the Flood Project Fund; and shall not be general obligations of the City or payable in any manner by taxation and the City shall be in no manner liable by reason of the failure of the net revenues to be sufficient for the payment of the Loan and Disbursement Agreements and Notes; and WHEREAS, before a Loan and Disbursement Agreement may be authorized and Stormwater Utility Revenue Capital Loan Notes issued to evidence the obligation of the City thereunder, it is necessary to comply with the provisions of the Code of Iowa, as amended, and to publish a notice of the proposal and of the time and place of the meeting at which the Council proposes to take action for the authorization of the Loan and Disbursement Agreement and Notes 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: Section 1. That this City Council meet in the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa at 6 : 30 o'clock P .M., on the 18th day of - 3 - May , 2015, for the purpose of taking action on the matter of the authorization of one or more Loan and Disbursement Agreements and the issuance of not to exceed $34,000,000 Stormwater Utility Revenue Capital Loan Notes to evidence the obligations of the City thereunder, the proceeds of which will be used to provide funds to pay the costs of land acquisition, engineering and construction of Phase 7 of the Bee Branch Watershed Flood Mitigation Project, also known as the Upper Bee Branch Creek Restoration, the refunding and refinancing of the outstanding General Obligation Capital Loan. Notes Anticipation Project Note, Series 2006, dated December 28, 2006, issued in respect of such costs, and the Catfish Creek Watershed 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 four clear days nor more than twenty days before the date of said public meeting on the issuance of the Notes. form: Section 3. The notice of the proposed action shall be in substantially the following 4 NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA ON THE MATTER OF THE PROPOSED AUTHORIZATION OF ONE OR MORE LOAN AND DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF NOT TO EXCEED $34,000,000 STORMWATER UTILITY REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC HEARING ON THE AUTHORIZATION AND ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the City Council of the City of Dubuque, Iowa, will hold a public hearing on the day of , 2015, at o'clock .M., in the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at which meeting the City Council proposes to take additional action for the authorization of one or more Loan and Disbursement Agreements by and between the City and the Iowa Finance Authority, and the issuance to the Iowa Finance Authority of not to exceed $34,000,000 Stormwater Utility Revenue Capital Loan Notes to evidence the obligations of the City under said Loan and Disbursement Agreements, in order to provide funds to pay the costs of land acquisition, engineering and construction of Phase 7 of the Bee Branch Watershed Flood Mitigation Project, also known as the Upper Bee Branch Creek Restoration, the refunding and refinancing of the outstanding General Obligation Capital Loan Notes Anticipation Project Note, Series 2006, dated December 28, 2006, issued in respect of such costs, and the Catfish Creek Watershed Improvements. The Notes will not constitute general obligations or be payable in any manner by taxation, but will be payable from and secured by the net revenues of the Stormwater Management Utility and, in the discretion of the City Council, from amounts on deposit in the Additional Projects Account of the Flood Project Fund. Pursuant to Chapter 44, Article V of the Dubuque City Code, stormwater management charges are imposed upon and collected from the owners or occupants of all lots, parcels of real estate and buildings that discharge stormwater or surface or subsurface waters to the City's Stormwater Management Utility System. Separate charges, based on a single family unit ("SFU") rate, are imposed on single-family residential property, non -single family residential property, and nonresidential property. The SFU rate is the dollar value periodically determined and assigned to each single family unit (being the average impervious area of a single-family residential property located within the City, currently 2,917 square feet), as a charge for stormwater management services, and is expressed as $X.XX per SFU. The SFU rates are described in said Chapter 44 and may be adjusted from time to time as set forth therein. At the above meeting the City 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 City Council will at this meeting or at any adjournment thereof, take additional action for the authorization of said Loan and -5- Disbursement Agreement and the issuance of Notes or will abandon the proposal to issue the Notes. This Notice is given by order of the City Council of the City of Dubuque, Iowa, as provided by Sections 384.24A and 384.83 of the Code of Iowa, as amended. Dated this day of , 2015. City Clerk, City of Dubuque, Iowa (End of Notice) PASSED AND APPROVED this 4th day of May, 2015. ATTEST: ._--- -•% 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 4th day of May, 2015. (SEAL) 01106025-1\10422-146 City Cle , City of Dubuq err State of Iowa CERTIFICATE 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 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 AUTHORIZATION OF ONE OR MORE LOAN AND DISBURSEMENT AGREEMENTS AND THE ISSUANCE OF NOT TO EXCEED $34,000,000 STORMWATER UTILITY REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC HEARING ON THE AUTHORIZATION AND 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 newspaperpublished 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: May 8 , 2015 WITNESS my official signature at Dubuque, Iowa, this c:32/-'374- day of , 2015. (SEAL) 01106030-1\10422-146 400, f Y /. City er<, City ofiub '.ue, owa OF DUaucju o Chapter 44 Article U` >f the Dubuque, ;City- , ode stor'mwater man ementchargesari 000 E rHE14NOTE OTES iP L-C,1{EAtW aN "FHE , UTHO IZATION ,AN[ SUANCETHERE water= tltjhtyt� Separate; Branch Watershe Flood' Mitigation.= Pro iect ajso known as th Upper ,,BeeBjancl reek Restoratiori efunding and refinan the r e, Ing of the outstanding Generallobigation Cap. ital Loan , , Notes ;l Anticipation Project. Note _ -Sends 2006 ; dated December.; 28 200eI issued m respect of such :costs and the Catfish Creek"`.Water- shed Improvements. 'The.'Notes wilt not.; ;constitute general,obli gations or be. payable in .any.°i manner, by ,taxation, but will be payable from `",and secured:;by the „net ' revenues of ,..the Storinwater - Manage (ment Utility and .in -the discretion of the";City.' Council, from amounts'`+ on .: deposit in ;;ane Additional Projects Account of _the Flood ..Project FOricil Pursuant :the above, act :all �obfecti ' ;been " recc considered, cif inrii fmg 'o tirnment any, ,add th:16 rf, ;take additjonal con for the'authonzat,of said Loan and'Dis= ursement Agreement and the ,issuance:`of )Votes or,will abandon ?the proposal tq Jssue the Notes This Notice is given by 'order of,; the City Council of the Cityof Dubuque, Iowa, 'as -c provided `by Sections 384.24A: and 384.83 'of =the "Code 'af Iowa, as amended Dated this 8th day,of j May 2015. Kevin S. Firnstahl City Clerk, City of Dubuque, Iowa 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: May 08, 2015, and for which the charge is $49.30. Subscribed to before me a Notary Public in and for Dubuque County, Iowa, this / day of , 20 /5- . otary Public in and IAL r Dubuque County, Iowa, MARY K, WESTERMEYER Commission Number 15485 My Comm, Exp. FEB. 1, 2017