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Home My WebLink About2020-04-20-G01 SRF Sewer Revenue CLN_Ratify PHAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: April 20, 2020 AGENDA ITEM:Consideration of approval of a resolution ratifying, confirming and approving publication of Notice of Public Hearing [Not to exceed $1,000,000 Sewer Revenue Capital Loan Notes] FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: In order to move forward with a public hearing on the issuance of Sewer Revenue Capital Loan Notes, to the amount of not to exceed $1,000,000, for the purpose of providing funds to pay costs associated with the Waukee Public Library Stormwater Improvements water resource restoration project, bond counsel recommends a resolution ratifying the publication of hearing notice. The notice has already been published in the 04/10/2020 issue of the Des Moines Register. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Bond counsel has provided a resolution ratifying the publication of notice. RECOMMENDATION: Approve the resolution. ATTACHMENTS: I. Proposed Resolution II. Notice of Public Hearing PREPARED BY:Becky Schuett REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: Des Moines Register DATE OF PUBLICATION: 04/10/2020 G1 RESOLUTION 2020- RESOLUTION RATIFYING, CONFIRMING AND APPROVING PUBLICATION OF NOTICE OF PUBLIC HEARING FOR THE ISSUANCE OF NOT TO EXCEED $1,000,000 SEWER REVENUE CAPITAL LOAN NOTES WHEREAS, the City of Waukee, State of Iowa, is in need of funds to carry out the purpose of providing funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Municipal Sewer System, including those costs associated with the Waukee Public Library Stormwater Improvements water resource restoration project; and WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa, should provide for the authorization of a Loan and Disbursement Agreement and issuance of Sewer Revenue Capital Loan Notes, to the amount of not to exceed $1,000,000, as authorized by Section, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out corporate purpose project(s); and WHEREAS, the Loan and Disbursement Agreement and Notes shall be payable solely and only out of the Net Revenues of the Municipal Sewer System and shall be a first lien on the future Net Revenues of the Utility; 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 Agreement and Notes; and WHEREAS, the notice of above meeting has been published as required by Sections 384.24A and 384.83 of the Code of Iowa, as amended, and the following action is now considered to be in the best interests of the City and its residents. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE, STATE OF IOWA: Section 1.That the action of the Clerk setting a public hearing before the City Council to meet in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at 5:30 P.M., the 20th day of April, 2020, for the purpose of taking action on the matter of entering into a Loan and Disbursement Agreement and on the issuance of not to exceed $1,000,000 Sewer Revenue Capital Loan Notes, the proceeds of which will be used to provide funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Municipal Sewer System, including those costs associated with the Waukee Public Library Stormwater Improvements water resource restoration project, is hereby ratified, confirmed and approved. Section 2.That the Clerk has caused 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 the City, said publication to be not less than four (4) nor more than twenty (20) clear days before the date of the public meeting on the issuance of the Notes. Section 3.That the form of notice of public hearing is hereby ratified, confirmed and approved. PASSED AND APPROVED this 20th day of April, 2020. Mayor ATTEST: City Clerk (To be published on or before: April 14, 2020) NOTICE OF MEETING OF THE CITY OF WAUKEE, IOWA ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $1,000,000 SEWER 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 Waukee, Iowa, will hold a public hearing on the 20th day of April, 2020, at 5:30 P.M., at which meeting the City Council proposes to take additional action for the authorization of a Loan and Disbursement Agreement by and between the City and the Iowa Finance Authority, and the issuance to the Iowa Finance Authority of not to exceed $1,000,000 Sewer Revenue Capital Loan Notes to evidence the obligations of the City under said Loan and Disbursement Agreement, in order to provide funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Municipal Sewer System, including those costs associated with the Waukee Public Library Stormwater Improvements water resource restoration project. 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 Municipal Sewer System. *PLACE: Due to public health concerns and guidance, in accordance with Iowa Code Sections 21.4(1)(b) and 21.8 and the Governor’s Proclamations, this meeting of the Waukee City Council will be conducted electronically as holding the meeting in person is impossible or impractical. However, the public is encouraged to access the meeting electronically in the manner specified below. The meeting shall be conducted via Zoom at the following link or phone numbers: https://zoom.us/j/5718152748 Meeting ID: 571 815 2748 Or by phone: +1 (253) 215 8782 US ; +1 (301) 715 8592 US ; All persons wishing to observe or participate in this meeting may do so via Zoom or telephone. Please contact the City Clerk’s office at 978-7904 or bschuett@waukee.org if you have questions or electronic accessibility issues. Please check the posted agenda in advance of the April 20, 2020 meeting for any updates to the manner in which the public may access the meeting. 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 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 Waukee, Iowa, as provided by Sections 384.24A and 384.83, as amended. Dated this 6th day of April, 2020. Courtney Clarke Mayor (End of Notice)