HomeMy WebLinkAbout2022-11-07 H01 Sewer Revenue CLN_PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 7, 2022
AGENDA ITEM:Public Hearing on the authorization of a Loan and Disbursement
Agreement and the issuance of Notes to evidence the obligation of the
City thereunder [Not to exceed $15,000,000 Sewer Revenue Capital
Loan Notes]
FORMAT:Public Hearing
SYNOPSIS INCLUDING PRO & CON:This public hearing proceeding is to allow the
authorization of the City to utilize the State of Iowa Revolving Fund Loan option not to exceed
$15,000,000 in Sewer Revenue Capital Loan Notes. This loan is for the NE Outfall Sewer project
currently in the draft FY 2024-28 CIP.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Hold Public Hearing.
ATTACHMENTS: I. Public Hearing
PREPARED BY:Beth Richardson
REVIEWED BY:Rudy Koester RK
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H1
(To be published between: October 18 - November 1, 2022 (dates inclusive))
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF
THE PROPOSED AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF
NOT TO EXCEED $15,000,000 SEWER REVENUE CAPITAL
LOAN NOTES, AND THE HEARING ON THE ISSUANCE
THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waukee, State of
Iowa, will hold a public hearing on the 7th day of November, 2022, at 5:30 P.M., in the Council
Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at which meeting the 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 $15,000,000 Sewer Revenue Capital Loan Notes, to evidence the
obligations of the City under the 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 Utility, including
construction of gravity flow sanitary sewer, manholes, diversion structure, clearing and
grubbing, surface restoration, streambank stabilization and miscellaneous associated work for the
NE Outfall Sewer, and the water resource restoration project for the Little Walnut Creek
watershed. 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
Utility.
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 authorization of a Loan and Disbursement Agreement and the issuance
of the Notes to evidence the obligation of the City thereunder or will abandon the proposal to
issue said Notes.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Sections 384.24A and 384.83 of the Code of Iowa.
Dated this 3rd day of October, 2022.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)