Reallocation of Series 2012H General Obligation Bond Proceeds Copyright 2014
City of Dubuque Public Hearings # 5.
ITEM TITLE: Reallocation of Series 2012H General Obligation Bond
Proceeds
SUMMARY: Proof of publication on notice of public hearing to consider
the reallocation of not-to-exceed $500,000 of the unspent
proceeds of the General Obligation Bond Series 2012H
from the renovation of the second floor of the Multicultural
Family Center to fund the acquisition of the Colts Drum &
Bugle Corps building at 1101 Central Avenue and the City
Manager recommending approval.
RESOLUTION Instituting Proceedings to Take Additional
Action and Approving the Reallocation of Certain Unspent
Proceeds of the General Obligation Bonds, Series 2012H,
of the City of Dubuque, Iowa
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt
Resolution(s)
ATTACHMENTS:
Description Type
MVM Memo City Manager Memo
Staff Memo Staff Memo
Resolution Resolutions
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 Reallocation of General Obligation Bonds Series 2012H
DATE: June 13, 2016
Budget Director Jennifer Larson recommends reallocation of not to exceed $500,000 of
the unspent proceeds of the General Obligation Bond Series 2012H from the renovation
of the second floor of the Multicultural Family Center to fund the acquisition of the Colts
Drum & Bugle Corps building at 1101 Central Avenue.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant Finance Director
Jennifer Larson, Budget Director
Jean Nachtman, Finance Director
buque
DtUB
OF Du
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Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Budget Director
SUBJECT: Proceedings for Reallocation of General Obligation Bonds Series 2012H
DATE: June 13, 2016
INTRODUCTION
The purpose of this memorandum is to provide suggested proceedings for holding a
public hearing on the reallocation of General Obligation Bond Series 2012H.
DISCUSSION
The City of Dubuque issued General Obligation Bonds ($2,385,000) in the fall of 2012
for the purpose of paying the costs of aiding in the planning, undertaking and carrying
out of urban renewal project activities for Greater the Downtown Urban Renewal District
and the Technology Park South District, including those costs associated with
construction of a rail platform for the intermodal transportation center; Multicultural
Family Center repairs and improvements including renovation of the second floor;
construction of an Americans with Disabilities Act (ADA) compliant restroom; utilities
extensions; and construction of a trail in Technology Park South.
Since the Multicultural Family Center second floor renovation project is on hold until the
Bus Storage and Maintenance Facility project is completed, a balance remains. These
proceedings are required to reallocate not to exceed $500,000 of the unused bond
funds from the renovation of the second floor of the Multicultural Family Center
($1 ,378,161 as of May 23, 2016) to fund the acquisition of the Colts Drum & Bugle
Corps building at 1101 Central Avenue, as permitted by Iowa Code.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution to reallocate unspent
bond proceeds of the General Obligation Series 2012H to fund the acquisition of the
Colts Drum & Bugle Corps building at 1101 Central Avenue.
JML
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Jean Nachtman, Finance Director
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: June 20, 2016.
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 said
meeting is as follows:
General Obligation Bonds, Series 2012H
X Public hearing on the proposed reallocation of unspent proceeds.
X Resolution instituting proceedings to take additional action.
Such additional matters as are set forth on the additional 4 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 Cle°k, Dubuque, ow
June 20, 2016
The City Council of Dubuque, Iowa, met in regular session, in the Historic Federal
Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the above date.
There were present Mayor Roy D. Buol in the chair, and the following named Council
Members:
Joyce Connors, Luis Del Toro, Ric Jones, Kevin Lynch, Jake Rios
Absent: David Resnick
The Mayor announced that this was the time and place for the public hearing and
meeting on the matter of the proposed reallocation of not to exceed $500,000 of the
unspent proceeds on the General Obligation Bonds, Series 2012H in order to provide
funds to pay costs of funding the acquisition of the Colts Drum & Bugle Corps building
at 1101 Central Avenue (from the Series 2012 Bonds), and that notice of the proposed
action by the Council to institute proceedings for the proposed reallocation had been
published pursuant to the provisions of Sections 364.6 and 384.25 of the City Code of
Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by
any City resident or property owner to the proposed reallocation. The Clerk advised the
Mayor and the Council that -0- written objections had been filed. The Mayor then called
for oral objections to the proposed reallocation 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)
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 AND APPROVING THE REALLOCATION OF CERTAIN
UNSPENT PROCEEDS OF THE GENERAL OBLIGATION BONDS, SERIES 2012H
OF THE CITY OF DUBUQUE, IOWA", and moved:
was,
that the Resolution be adopted.
To ADJOURN and defer action on the Resolution and the proposal to institute
proceedings for the proposed reallocation to the meeting to be held at
o'clock .M. on the day of , 2016, at this
place.
Council Member Lynch seconded the motion. The roll was called and the vote
AYES: Del Toro, Rios, Jones, Lynch/ Connors, Buol
NAYS:
RESOLUTION NO. 253-16
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION AND APPROVING THE REALLOCATION
OF CERTAIN UNSPENT PROCEEDS OF THE GENERAL
OBLIGATION BONDS, SERIES 201211, OF THE CITY OF
DUBUQUE, IOWA
WHEREAS, pursuant to notice published as required by law, this Council has held
a public meeting and hearing upon the proposal to institute proceedings for the
reallocation of certain unspent proceeds, in the amount of not to exceed $500,000 (the
"Unspent Proceeds") of the General Obligation Bonds, Series 2012H, of the City of
Dubuque, Iowa, in order to provide funds to pay costs of funding the acquisition of the
Colts Drum & Bugle Corps building at 1101 Central Avenue (from the Series 2012
Bonds), and has considered the extent of objections received from residents or property
owners as to said proposal and, accordingly the following action is now considered to be
in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That this Council does hereby institute proceedings and takes
additional action for the reallocation of the Unspent Proceeds of the General Obligation
Bonds, Series 2012H, for the foregoing purpose, and the reallocation of the Unspent
Proceeds to pay costs of funding the acquisition of the Colts Drum & Bugle Corps
building at 1101 Central Avenue (from the Series 2012 Bonds), is in all respects
authorized and approved.
Section 2. The Finance Director is authorized and directed to take such action as
may be necessary to effect and implement the foregoing reallocation of the Unspent
Proceeds to pay costs of funding the acquisition of the Colts Drum & Bugle Corps
building at 1101 Central Avenue (from the Series 2012 Bonds), and to cause the records
and accounts of the City to reflect the same.
PASSED AND APPROVED this 20th day of Ju e, 2016.
//ii
ei tiLli
Mayor
ATTEST:
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: June 10, 2016, and for which the charge is $19.52.
Subscribed to before Notary Public in and for Dubuque County, Iowa,
this /p- day of _ -�- , 20 i6
otary Public in and for Duque County, Iowa.
MARY K, WESTERMEYER
Commission Number 154885
My Comm, Exp. FEB. 1, 2017
CITY OF DUBUQUE,
IOWA
OffICIAL NOTICE
Up TICS OF MEETING
I ®r7H CIT1( COUN-
fWILiOFTHE CITY OF
DUBUQUE; IOWA, ON
lit MATTER OF THE
IINOF CERTAIN
UNSPENT PROCEEDS
OF THE GENERAL OB-
LIGATION BONDS,
SERIES 2012H, OF THE
CITY OF DUBUQUE,,`
IOWA, AND THE PUB-
LIC' HEARING THERE
®N L�
here�mtd tttte'
Councli of~~the ity of
ho
Dublduqapue, ublic " Iowa,, will;i
hearing ;:
on the 20th ' --.day of
June, " 2016,'", at 6:30
o'clock P M in the His-
toric FedeaI building,"
350 West 6th Street,
Dubuque, Iowa, at
which meeting the
Council proposes to
take add tional action
for the reallocation of
certain unspent pro
ceeds of the General
Obligation Bonds, Ser-
ies 2012H of the City of
Dubuque, Iowa (to-
gether, the "Bonds"),
in the aggregate
amount of not to ex-
ceed $500,000, in order
to provide funds for
the purpose of funding
acquisition of the Colts
Drum & Bugle Corps
building at 1101 Cen-
tral Avenue (Series
2012H Bonds). Any per-
son interested may ap'
pear at the public hear-
ing, either
ear-ing,seither orally or in
writing, and 'be heard
as to the reallocation
of said pr1ceQds of the,'
Bonds -:/for the' above'
purposes
Thiis�Notice s pwen b';
order of the .Council of
Dtl uque,"lowa as pro-,
vided by Sections 364.611
and 384.25 of the Code
of Iowa as amended.
Dated this 10th day of
June,2016.
Kevin S. Firnstahl, City
Clerk of Dubuque, Iowa
1t6/10'