Tax-Exempt General Obligation Bonds $3M Copyright 2014
City of Dubuque Public Hearings # 4.
ITEM TITLE: Tax-Exempt General Obligation Bonds
SUMMARY: Proof of publication on notice of public hearing to consider approval of the
suggested proceedings for the public hearing on the issuance of Tax-
Exempt General Obligation Bonds and the City Manager recommending
approval.
RESOLUTION Instituting proceedings to take additional action for the
issuance of not to exceed $3,000,000 General Obligation Bonds
RESOLUTION Authorizing the issuance of$3,000,000 General Obligation
Bonds, and levying a tax for the payment thereof
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s)
ATTACHMENTS:
Description Type
❑ MVM Memo City Manager Memo
❑ Staff Memo Staff Memo
❑ Resolution Resolutions
❑ Bond Counsel Letter Supporting Documentation
❑ Proof of Publication Supporting Documentation
THE CITY OF Dubuque
UBE 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 for Public Hearing on the Issuance of Not to Exceed
$3,000,000 Tax-Exempt General Obligation Bonds, Series 2015
DATE: April 29, 2015
Budget Director Jennifer Larson is recommending City Council approval of the
suggested proceedings for the public hearing on the issuance of Tax-Exempt General
Obligation Bonds. The proceeds of which will be used to pay costs of the settlement of
the franchise fee litigation.
The bonds will be repaid using the debt service levy beginning in Fiscal Year 2016. The
debt service levy amount related to the repayment of the bonds is $0.06614 per $1,000
of assessed valuation in Fiscal Year 2016.
The proceedings have been prepared on the basis that no objections or petitions calling
for an election on the bond proposal will be filed with the City Clerk. If there are
objections, we will need to summarize them. The Mayor will then declare the hearing on
the issuance of said bonds closed. Immediately following, and assuming no petitions
have been filed, a resolution is to be introduced and adopted entitled "Resolution
Instituting Proceedings to Take Additional Action for the Issuance of not to Exceed
$3,000,000 General Obligation Bonds."
In the event the Council decides to abandon the proposal to issue said bonds, then the
form of resolution included in said proceeding should not be adopted. In this event, a
motion needs to be adopted to the effect that such bond proposal is abandoned.
Section 384.25 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 bonds, to the District
Court of a county in which any part of the City is located, within 15 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.
This is all consistent with the City Council decisions made through the Fiscal Year 2016
budget process.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
114�
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Jennifer Larson, Budget Director
Kenneth TeKippe, Finance Director
THE CITY OF Dubuque
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Budget Director
SUBJECT: Proceedings for Public Hearing on the Issuance of Not to Exceed
$3,000,000 Tax-Exempt General Obligation Bonds, Series 2015
DATE: April 29, 2015
INTRODUCTION
The purpose of this memorandum is to provide the suggested proceedings for the public
hearing on the issuance of General Obligation Bonds prepared by Bond Counsel and to
present to City Council to adopt entitled "Resolution Instituting Proceedings to Take
Additional Action for the Issuance Not to Exceed $3,000,000 General Obligation
Bonds." The proceeds of which will be used to provide funds to pay the costs of the
settlement of the franchise fee litigation. A letter from attorney Mark Cory detailing
information on the bond hearing is enclosed.
DISCUSSION
The $3,000,000 General Obligation Bond will be used to provide funds to pay the costs
of the settlement of the franchise fee litigation.
Since at least 1873, the Iowa Code has given Iowa cities the authority to grant
franchises to utilities to use the public right-of-ways. Cities also had the authority to
impose franchise fees for such use. Until 2010, the Code of Iowa did not limit the
amount or basis of franchise fees. However, earlier Iowa Supreme Court cases
indicated that a city's authority to impose a franchise fee was limited to reasonable
costs of regulating, supervising, or enforcing the franchise.
Franchise fees are typically based on a percentage of gross revenue of the franchisee.
For example, the federal Cable Act of 1984 authorized cable franchise fees not to
exceed 5% of gross revenue. The City of Dubuque has been collecting 5% fees on
cable services based on gross revenue since at least 1984.
In 1994, the City of Dubuque renewed its gas and electric franchises. Both agreements
authorized the City Council to impose franchise fees no to exceed 3% of gross
revenues on the sale of gas and electricity. The franchise agreements, including the
right to impose franchise fees, were approved by citizens at an election. However, the
City Council did not impose any franchise fees on gas and electricity sales until 2003
when it imposed a 2% fee.
In 2005, Linda Kragnes filed a class action law suit against the City of Des Moines
claiming that Des Moines' franchise fees were illegal taxes. The Polk County District
Court agreed with Kragnes. On appeal, the Iowa Supreme Court in a 2006 opinion,
agreed with the District Court and rejected Des Moines' home rule argument, holding
that "any franchise fee charged by a city must be reasonably related to the city's
administrative expenses in the exercise of its police power. These expenses include the
reasonable costs of inspecting, licensing, supervising, or otherwise regulating the
activity the city is franchising." Thus, under the Kragnes rule, "a city has the authority to
assess a franchise fee expressed as a percentage of the gross receipts derived from
the utility's sale of its services to the public, so long as the charge is reasonable related
to the cost of the activity that is being franchised." The Supreme Court did not elaborate
on what costs a city is entitled to recover.
J. Thomas Zaber filed his class action lawsuit against the City of Dubuque in 2006
alleging, like Kragnes, that the City's gas, electric and cable franchise fees were illegal
taxes. Very shortly after the Polk County ruling in Kragnes, the City of Dubuque retained
Springsted International, a consulting firm specializing in infrastructure costs, to conduct
a study to determine the city's "cost of inspecting, licensing, supervising, or otherwise
regulating" the gas and electric utilities. Because the Supreme Court had not provided
specific guidance in Kragnes as to what those costs were, we were left to speculate as
to what costs to include in the study. Springsted's preliminary report in 2006 indicated
that the city's franchise fees were roughly equivalent to the costs of regulating the
utilities, based again on what we believed those costs might include. The Zaber case
was essentially on hold while the Kragnes case was being litigated in the courts.
In a subsequent hearing following the Kragnes appeal, the Polk County district court
disallowed a number of Des Moines' costs, which included many of the costs which
were part of the Springsted analysis. On appeal from the decision, the Iowa Supreme
Court elaborated on the costs that could be recovered by a city as a franchise fee,
allowing some of the costs that the Polk County district court had disallowed but still
rejecting many of the costs that had originally been relied upon by Springsted. Following
that 2012 opinion, Springsted updated its report and concluded that the City of Dubuque
had collected franchise fees in excess of costs by around $2 million.
While the franchise fee cases were pending, in 2010 the Iowa General Assembly
authorized cities to collect cable franchise fees of 5% without regard to the cost of
regulating the utilities, thus abrogating the Kragnes rule. The cable legislation also was
made retroactive. Zaber challenged the constitutionality of the retroactivity provision of
the law, but the District Court for Dubuque County agreed with Dubuque that the statute
was constitutional. On appeal, the Iowa Supreme Court upheld that decision. As a result
of that change in the law, Zaber's cable fee challenge was dismissed from the lawsuit,
removing $3 million in cable fees from the lawsuit.
In 2010 the Iowa General Assembly also authorized gas and electric franchise fees not
to exceed 5% without the regard to the cost of regulating the utilities. However, the
legislature did not make the legislation retroactive, a matter which did not go unnoticed
by the Iowa Supreme Court in Kragnes. The court said that the legislature "declined to
shield the City from the financial impact" of the claims like Zaber's. Had the legislature
made the gas and electric legislation retroactive, a settlement would not be necessary.
Based on the risks and costs of a trial, the costs and further delay of likely appeals, the
City Attorney's Office and our retained counsel have concluded that it is in the best
interest of the City to settle the case. The relief requested by Zaber in the lawsuit is
essentially a refund to the class of gas and electric customers of the franchise fees that
exceed the costs the city was authorized to collect between 2005 and 2009 when the
law was changed. The parties have reached a tentative settlement of$2.6 million.
A fairness hearing is yet to be scheduled to obtain Court approval of the settlement
agreement and to determine what happens to unclaimed funds after the claims period is
closed. The bond funds remaining after bond issuance fees are paid will be put into an
escrow account by the City of Dubuque to fund the franchise fee refund process.
The cost of the settlement is not covered by the City's insurance carrier, Iowa
Communities Assurance Pool. Damages and expenses not covered under the City's
insurance include tax activities meaning damages and expenses resulting from any
wrongful act by the insured in connection with any tax assessment, fine, fee or
adjustment or the collection, refund, disbursement or application of any taxes.
The bonds will be repaid using the debt service levy beginning in Fiscal Year 2016. The
debt service levy amount related to the repayment of the bonds is $0.06614 per $1 ,000
of assessed valuation in Fiscal Year 2016.
The proceedings have been prepared on the basis that no objections or petitions calling
for an election on the bond proposal will be filed with the City Clerk. If there are
objections, we will need to summarize them. The Mayor will then declare the hearing on
the issuance of said bonds closed. Immediately following, and assuming no petitions
have been filed, a resolution is to be introduced and adopted entitled "Resolution
Instituting Proceedings to Take Additional Action for the Issuance of not to Exceed
$3,000,000 General Obligation Bonds."
In the event the Council decides to abandon the proposal to issue said bonds, then the
form of resolution included in said proceeding should not be adopted. In this event, a
motion needs to be adopted to the effect that such bond proposal is abandoned.
Section 384.25 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 bonds, to the District
Court of a county in which any part of the City is located, within 15 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 instituting the
proceedings to take additional action.
JML
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Kenneth TeKippe, Finance Director
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of the City of Dubuque, State of Iowa.
Date of Meeting: May 4, 2015.
Time of Meeting: o'clock 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 $3,000,000 General Obligation Refunding Bonds
• Public hearing on the issuance.
• Resolution instituting proceedings to take additional action.
$3,000,000 General Obligation Bonds, Series 2015.
• Resolution authorizing the issuance and levying a tax for the payment thereof.
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 the governmental body.
City Clerk, City of Dubuque, State of Iowa
May 4, 2015
The City Council of the City of Dubuque, State of Iowa, met in
session, in the Historic Federal Building, 350 West 6th Street, Dubuque, Iowa, at
o'clock M., on the above date. There were present Mayor in the chair,
and the following named Council Members:
Absent:
- 1 -
The Mayor announced that this was the time and place for the public hearing and meeting
on the matter of the issuance of not to exceed $3,000,000 General Obligation Bonds, in order to
provide funds to pay the costs of settlement of any part or all of the legal indebtedness of a city,
whether evidenced by bonds, warrants, or judgments, or the funding or refunding of the same,
whether or not such indebtedness was created for a purpose for which general obligation bonds
might have been issued in the original instance,for essential corporate purposes, and that notice
of the proposal to issue the Bonds had been published as provided by Section 384.25 of the Code
of Iowa
The Mayor then asked the Clerk whether any written objections had been filed by any
resident or property owner of the City to the issuance of the Bonds. The Clerk advised the
Mayor and the Council that written objections had been filed. The Mayor then called for
oral objections to the issuance of the Bonds and were made. Whereupon,the Mayor
declared the time for receiving oral and written objections to be closed.
(Attach here a summary of objections received or made, if any)
- 2 -
ORIGINAL (This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of the City of Dubuque, State of 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 $3,000,000 General Obligation Refunding Bonds
• Public hearing on the issuance.
• Resolution instituting proceedings to take additional action.
$3,000,000 General Obligation Bonds, Series 2015.
• Resolution authorizing the issuance and levying a tax for the payment thereof.
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.
City C k, City of Dubuque, tate of Iowa
The Mayor announced that this was the time and place for the public hearing and meeting
on the matter of the issuance of not to exceed $3,000,000 General Obligation Bonds, in order to
provide funds to pay the costs of settlement of any part or all of the legal indebtedness of a city,
whether evidenced by bonds, warrants, or judgments, or the funding or refunding of the same,
whether or not such indebtedness was created for a purpose for which general obligation bonds
might have been issued in the original instance, for essential corporate purposes, and that notice
of the proposal to issue the Bonds had been published as provided by Section 384.25 of the Code
of Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by any
resident or property owner of the City to the issuance of the Bonds. The Clerk advised the
Mayor and the Council that -0- written objections had been filed. The Mayor then called for oral
objections to the issuance of the Bonds and -0- were made. Whereupon, the Mayor declared the
time for receiving oral and written objections to be closed.
(Attach here a summary of objections received or made, if any)
2
Whereupon, the Mayor declared the hearing on the issuance of the Bonds to be closed.
The Council then considered the proposed action and the extent of objections thereto.
Whereupon, Council Member Jones introduced and delivered to the
Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING
PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $3,000,000 GENERAL OBLIGATION BONDS", and moved:
x
that the Resolution be adopted.
To ADJOURN and defer action on the Resolution and the proposal to institute
proceedings for the issuance of bonds to the meeting to be held at
.M. on the day of , 2015, at this place.
Council Member Connors seconded the motion. The roll was called and.
the vote was,
AYES: Jones, Braig, Lynch, Sutton
NAYS:
Resnick, Buol, Connors
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION NO. 156-15
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $3,000,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the issuance of not to
exceed $3,000,000 General Obligation Bonds, for the essential corporate purposes, in order to
provide funds to pay the costs of settlement of any part or all of the legal indebtedness of a city,
whether evidenced by bonds, warrants, or judgments, or the funding or refunding of the same,
whether or not such indebtedness was created for a purpose for which general obligation bonds
might have been issued in the original instance, and has considered the extent of objections
received from residents or property owners as to the proposed issuance of Bonds; and following
action is now considered to be in the best interests of the City and residents thereof.
3
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, STATE OF IOWA:
That this Council does hereby institute proceedings and take additional action for the
authorization and issuance in the manner required by law of not to exceed $3,000,000 General
Obligation Bonds, for the foregoing essential corporate purposes.
PASSED AND APPROVED this 4th day of May, 2015.
ATTEST:
Council Member Jones introduced the following Resolution
entitled "RESOLUTION AUTHORIZING THE ISSUANCE OF $3,000,000 GENERAL
OBLIGATION BONDS, AND LEVYING A TAX FOR THE PAYMENT 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, Buol, Connors
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION NO. 157-15
RESOLUTION AUTHORIZING THE ISSUANCE OF
$3,000,000 GENERAL OBLIGATION BONDS, AND
LEVYING A TAX FOR THE PAYMENT THEREOF
WHEREAS, the City of Dubuque, State of Iowa ("Issuer"), is a municipal corporation,
organized and existing under the Constitution and laws of the State of Iowa, and is not affected
by any special legislation; and
WHEREAS, the Issuer is in need of funds to pay costs of settlement of any part or all of
the legal indebtedness of a city, whether evidenced by bonds, warrants, or judgments, or the
funding or refunding of the same, whether or not such indebtedness was created for a purpose for
which general obligation bonds might have been issued in the original instance (the "Project"),
and it is deemed necessary and advisable that General Obligation Bonds, in the amount of
$3,000,000 be issued; and
WHEREAS, the City Council has taken such acts as are necessary to authorize issuance
of the Bonds; and
WHEREAS, the City Council has taken additional action to authorize issuance of the
Bonds.
NOW, THEREFORE, IT IS RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, STATE OF IOWA:
Section 1. Authorization of the Issuance. General Obligation Bonds, in the amount of
$3,000,000 shall be issued pursuant to the provisions of Iowa Code Section 384.25 for the
purposes covered by the hearing.
5
Section 2. Levy of Annual Tax. For the purpose of providing funds to pay the principal
and interest as required under Chapter 76.2, there is levied for each future year the following
direct annual tax upon all the taxable property in the City of Dubuque, State of Iowa, to wit:
FISCAL YEAR (JULY 1 TO JUNE 30)
AMOUNT YEAR OF COLLECTION
$185,089* 2015/2016
$184,197 2016/2017
$204,326 2017/2018
$203,652 2018/2019
$202,871 2019/2020
$202,987 2020/2021
$203,961 2021/2022
$202,762 2022/2023
$202,456 2023/2024
$203,012 2024/2025
$203,391 2025/2026
$202,597 2026/2027
$203,661 2027/2028
$203,517 2028/2029
$203,196 2029/2030
$203,702 2030/2031
$202,996 2031/2032
$204,117 2032/2033
$202,991 2033/2034
$493,591 2034/2035
*$11 will be paid from funds on hand
Principal and interest coming due at any time when the proceeds of the tax on hand are
insufficient to pay the amount due shall be promptly paid when due from current funds available
for that purpose and reimbursement must be made.
Section 3. Amendment of Levy of Annual Tax. Based upon the terms of the future sale
of the Bonds to be issued, this Council will file an amendment to this Resolution ("Amended
Resolution") with the County Auditor.
Section 4. Filing. A certified copy of this Resolution shall be filed with the County
Auditor of County of Dubuque, State of Iowa, who shall, pursuant to Iowa Code Section 76.2,
levy, assess and collect the tax in the same manner as other taxes and, when collected, these
taxes shall be used only for the purpose of paying principal and interest on the Bonds.
6
PASSED AND APPROVED this 4th day of May, 2015.
//fi
Mayor
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 public hearing 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 s 4th day of May, 2015.
City drk, City of ISubu°c ue, State of Iowa
(SEAL)
CITY CLERK'S CERTIFICATION TO COUNTY AUDITOR
Pursuant to the provisions of Section 76.2 of the Code of Iowa, I do hereby certify that
attached hereto is a true and correct copy of the Resolution authorizing the issuance of not to
exceed $3,000,000 General Obligation Bonds, Series 2015, and levying a tax therefor adopted by
the City Council of the City of Dubuque, State of Iowa, on the date thereof, the original of which
is on file in the records of the undersigned.
Dated this 4th day of May
, 2015.
City Clerk/City of Dubuque, tate of Iowa
COUNTY AUDITOR'S CERTIFICATE
412.e ���� , County Auditor of Dubuque County, State of Iowa,
hereby certify that on the day of,d� , 2015 there was filed in my
office the Resolution of the Ci y Council of the Chi/of Dubuque, State of Iowa, adopted on the
4th day of May, 2015, said Resolution authorizing the issuance of not to exceed $3,000,000
General Obligation Bonds, Series 2015, and levying a tax therefor, all duly certified upon the
form attached above.
ounty Auditoro 1j* Duque ounty, Sate df
Iowa
AHLERS &COONEY, P.C.
100 COURT AVENUE, SUITE 600
DES MOINES, IOWA 50309-2231
FAx: 515-243-2149
WWW.AHLERSLAW.COM
R.Mark Cory Direct Dial:
RCory@ahlerslaw.com 515.246.0378
April 29, 2015
Via E-mail
Jenny Larson
Budget Director
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001
Re: City of Dubuque, State of Iowa.
Not to Exceed $3,000,000 General Obligation Bonds
Dear Jenny:
We enclose suggested proceedings to be acted upon by the Council on the date fixed for
the hearing on the issuance of the above mentioned bonds, pursuant to the provisions of Code
Section 384.25. A certificate to attest the proceedings is also enclosed.
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 $3,000,000 General Obligation Bonds."
Action Must Be Taken At The Hearing.
The Council is required by statute to adopt the resolution instituting proceedings to issue
the bonds at the hearing, or an adjournment thereof. If necessary to adjourn, the minutes are
written to accommodate that action.
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. We would suggest that,
in this event, a motion merely be adopted to the effect that such bond proposal is abandoned.
WISHARO&GAILY-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 29, 2015
Page 2
Appeal to District Court.
Section 384.25 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 bonds, to the District Court of
a county in which any part of the city is located, within 15 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 an appeal is filed by any resident or property owner, please see that we are
notified immediately; and,-as soon as available, a copy of the notice of appeal should be
furnished our office for review.
The procedure then continues with proceedings to certify the tax levy for the payment of
General Obligation Bonds to be issued after the budget filing deadline. The "pre-levy"
resolution imposes a levy for the Fiscal Year beginning July 1, 2015 and ending June 30, 2016.
The amount should be included in the budget or in an amended budget. This resolution will
satisfy the requirements for the resolution and levy as required by Iowa Code Chapter 76. When
the Bonds are issued (the sizing of which may change as directed by the Council), the
authorizing resolution will incorporate this levy and will include the levy based on actual rates at
the sale.
A copy of this Resolution must be filed with the Dubuque County Auditor. Also
enclosed is the Certificate for the Auditor to verify that this Resolution was filed.
Also enclosed is an extra copy of the proceedings to be filled in as the original and
certified back to this office. If you have any questions pertaining to the proceedings enclosed or
this letter, please do not hesitate to either write or call.
Very t 1 your
R. Ma Cory
FOR THE FIRM
RMC:csm
Enclosures
cc: Barry Lindahl
Ken TeKippe
Kevin Firnstahl
01107015-1\10422-165
i
STATE OF IOWA {SS:
DUBUQUE COUNTY
CERTIFICATION OF PUBLICATION
i
I
I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation,publisher
of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County '!
of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper
on the following dates: April 24, 2015, and for which the charge is $24.07. j
CITY OF-0UBUOUE,
IOWA.
OFFICIAL NOTICE
NOTICE OF MEETINGi
OF THE. CITY,
COUNCIL OF.. THE
CITY O,F OF.
1 f
STATE OF IOWA„ON
THE MATTER OF THE
PROPOSED ISSUANCE
OF NOT TO EMCEED
$3,000,000 GENERAL.
OBLIGATION BONDS
OF THE CITY(FOR AN
ESSENTIAL CORPOR�
ATE PURPOSE), AND
THE HEARING ON THE
ISSUANCETHEREOF
Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, PUBLIC NOTICE is
hereby given that the
this day of , 20 /_-5- City Council of the City
of Dubuque, State of
Iowa,,will hold a public
hearing on the 4th day
of May, 2015, at 630
P.M., in ;the Historic
Federal Building, 350
West 6th Street,Dubu-
que, 'Iowa, at;which it
meeting the. Council
.proposes to take
a0tary Public in and for Dubuque County, Iowa. additional action for
the issuance of not to
exceed$3,000,000 Gen-
eral Obligation Bonds,
for an essential cor-
porate purpose, to
provide.funds to pay
the costs of ,the
settlement of any part
or all of the ,legal
indebtedness of a city,
whether evidenced by
bonds, warrants, or
v omn+��+on vurphor#g4gS judgments, or the
o v{, SSB FES 1Qf? funding or refunding of
the same, whether or f
not such indebtedness
was created fora pur-
pose for which general
oblgation,bonds_might i
have been issued in the
original instance.
At the above meeting
the Council shall re-
ceive oral or written
objections from any
resident or property
owner of the City to
the above action.After
all objections have
been received and
considered,the Council ;
will-at the meeting or
at any adjournment
thereof,take additional
action for the issuance
of the Bonds or will
abandon the proposal
to issue said Bonds.
.This notice is given by
order of. the City
Council of the City of
Dubuque, State -of h
Iowa, as provided by
Section 384.25 of the
Code of Iowa.
Dated this 24th day of
April,2015.
Kevin S.Firnstahl
City Clerk,City of
Dubuque,State of Iowa
1t 4/24