HomeMy WebLinkAboutPHN - Notice of Hearing ECP-1 2025A General Obligation Bonds - PUBLISH 2-24-25ECP-1
Notice of Meeting of the City Council of the City of Iowa City, State of Iowa, on the Matter of the Proposed Issuance of Not to
Exceed $11,300,000 General Obligation Bonds of the City (For
Essential Corporate Purposes), and the Hearing on the Issuance Thereof
Public Notice is hereby given that the City Council of the City of Iowa City, State of Iowa, will hold a public hearing on the 11th day of March, 2025, at 6:00 P.M., in the Emma J.
Harvat Hall, City Hall, 410 E. Washington, Iowa City, Iowa, at which meeting the Council
proposes to take additional action for the issuance of not to exceed $11,300,000 General Obligation Bonds, for essential corporate purposes, to provide funds to pay the costs of the opening, widening, extending, grading and drainage of the right-of-way of streets, highways, avenues, alleys, and public grounds; the construction, reconstruction, and repairing of any street
and streetscape improvements, including the replacement or planting of trees in public areas,
related utility work, traffic control devices, lighting, trails, sidewalks, and the acquisition of real estate for such purposes; the acquisition, construction, reconstruction, enlargement, improvement, and repair of bridges, culverts, retaining walls, viaducts, underpasses, grade crossing separations, and approaches thereto; the acquisition, construction and improvement of
works and facilities useful for the collection and disposal of surface waters and streams, and for
the protection of property situated within the corporate limits from floods or high waters, and for the protection of property from the effects of flood waters; equipping the fire department; and the rehabilitation and improvement of parks already owned, including facilities, equipment and improvements commonly found in city parks.
The annual increase in property taxes as the result of the issuance on a residential property
with an actual value of one hundred thousand dollars is estimated not to exceed $25.03. This estimate only considers the impact on property taxes of financing authority established by this hearing for the above-described project(s). The bonds may be issued in one or more series over a number of years. Finance authority established by this hearing may be combined with additional
finance authority, causing the estimate for the annual increase in property taxes for the entire
issuance to be greater than the estimate stated herein. Changes in other levies may cause the actual annual increase in property taxes to vary.
At the above meeting the 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 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 Iowa City, State of Iowa, as provided by Section 384.25 of the Code of Iowa.
Dated this 18th day of February, 2025.
s/Kellie Grace, City Clerk, City of Iowa City, State of Iowa