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,
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City er<, City ofiub '.ue,
owa
OF DUaucju
o Chapter 44 Article U`
>f the Dubuque, ;City-
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ode stor'mwater man
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IZATION ,AN[
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Flood' Mitigation.= Pro
iect ajso known as th
Upper ,,BeeBjancl
reek Restoratiori
efunding and refinan
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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