COUNCIL PROCEEDINGS
December 28, 2015

The Oelwein City Council met in regular session Monday, December 28, 2015. Mayor Sherrets called the meeting to order at 6:00 P.M.

Roll Call PRESENT: B. Weber (by phone), Ryan, Stickel, Milks, M. Weber, Cantrell
ABSENT: None
ALSO PRESENT: Letzring, VanVeldhuizen

Adopt Agenda A motion was made by Milks, seconded by Cantrell to adopt the agenda as amended. All voted aye.
Motion Carried

Consent Agenda A motion was made by M. Weber, seconded by Stickel to approve the following consent agenda items:
1. Approval of the minutes of the December 14, 2015 regular meeting.
2. Class ‘B’ Wine Permit Renewal for Oelwein Family Pharmacy.
3. Claims Resolution in the amount of $367,762.68.
All voted aye.
Motion Carried

Public Hearing A motion was made by Milks, seconded by M. Weber to open the Public Hearing
GO Urban Renewal on a Taxable Annual Appropriation General Obligation Urban Renewal
Grant Loan Agreement Economic Development Grant Loan Agreement in a Principal Amount Not to Exceed $4,300,000.
Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None

No objections were received, comments made nor was a petition presented.

Maggie Burger, Speer Financial gave a brief presentation on the various financing methods used by the City to complete its obligation to the East Penn expansion project including a 20% match to an Iowa DOT RISE grant estimated at $420,000.00.

Ms. Burger also emphasized that the bonds being sold are taxable securities based on a minimum assessment agreement signed by the Developer (East Penn) which will assess the company at a certain valuation for a set number of years until the City’s debt is repaid. This will allow for TIF tax dollars to be collected and used to pay this debt.

Additional water and sewer revenue bonds will be sold, tied directly to the utility infrastructure upgrades needed. The City intends to use the State Revolving Fund (SRF) for planning and design at 0% and also financing the project at the SRF low rate of 1.75% plus 0.25% annual administration (effectively 2%). This will not count against the debt capacity of the City.

No other comments were received.

Close Hearing A motion was made by Ryan, seconded by M. Weber to close the hearing.

Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None
Motion Carried

Resolution #4864 A motion was made by Milks, seconded by M. Weber to adopt
GO Loan Agreement Resolution No. 4864 Expressing Intent to Enter Into General Obligation Loan Agreement.
Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None
Motion Carried

TIF Report A motion was made by Milks, seconded by Stickel to table until January 2016 a report from Maggie Burger, Speer Financial on TIF. All voted aye.
Motion Carried

COUNCIL PROCEEDINGS, DECEMBER 28, 2015, PAGE 2

Resolution #4865 A motion was made by Ryan, seconded by Milks to adopt Resolution
Set Hrg – Rezone No. 4865to set Public Hearing on Proposed Reclassification of Real
800 10th Street SE Estate Located at 800 10th Street SE, Oelwein, Iowa, From I-1 Light Industrial to I-1 Industrial Park District at 6:00 P.M. January 11, 2016.
Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None
Motion Carried

Resolution #4866 A motion was made by Ryan, seconded by Milks to adopt Resolution No. 4866
Mortgage Release Authorizing the Mayor to Execute Mortgage Release – Clinton Berryman D.D.S.
Berryman Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None
Motion Carried

Resolution #4867 A motion was made by M. Weber, seconded by Stickel to adopt Resolution
Mortgage Release No. 4867 Authorizing the Mayor to Execute Mortgage Release – Ken’s
Ken’s Electric Electric.
Ayes: B. Weber, Ryan, Stickel, Milks, M. Weber, Cantrell
Nays: None
Motion Carried

Oath of Office Oath of Office will be administered at 10:00 A.M. on Wednesday, December 30th for Mayor Peggy Sherrets, and Sherrets will administer to newly elected officials at 6:00 P.M. on December 30, 2015 in Council Chambers.

SRF City Administrator Letzring explained to Council the 0% Planning and Design Loan through the State Revolving Fund.

Councilman Ryan Ryan thanked Council for their collaboration and kindness over his 23 year experience in local government and wished the best of luck to Mr. Christensen as his replacement. Ryan encouraged all members of the council to continue their good works of public service.

Adjourn A motion was made by Ryan, seconded by M. Weber to adjourn at 6:30 P.M. All voted aye.
Motion Carried

___________________________________
PEGGY SHERRETS, MAYOR

ATTEST:

______________________________________
JAMIE LETZRING, CITY ADMINISTRATOR

I, Jamie Letzring, City Administrator in and for the City of Oelwein, Iowa do hereby certify that the above and foregoing is a true accounting of the Council Proceedings held December 28, 2015 and copy of said proceedings was furnished to the Register January 4, 2016.

______________________________________
JAMIE LETZRING, CITY ADMINISTRATOR

Sorry, the comment form is closed at this time.

© 2010 City of Oelwein - Council Action Suffusion theme by Sayontan Sinha