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HomeMy WebLinkAbout2023-04-10 Resolution 2023-145_Set Public Hearing Date, Bonds, Stormwater Revenue-Little Walnut Creek Regional Stormwater WetlandsRESOLUTION 2023-145 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $3,000,000 STORMWATER REVENUE BONDS OF THE CITY OF WAUKEE, STATE OF IOWA, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa should issue Stormwater Revenue Bonds, in the amount of not to exceed $3,000,000, as authorized by Section 384.84A, Code of Iowa, as amended, for the purpose of providing funds to pay costs as hereinafter described; and WHEREAS, the Bonds shall be payable solely and only out of the Net Revenues of the Stormwater Management Utility 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 Bonds; and WHEREAS, before said Bonds may be issued, it is necessary to comply with the provisions of the Section 384.84A of the Code of Iowa, as amended, and to publish a notice of the proposal and of the time and place of the meeting at which the Council proposes to take action for the authorization of the Bonds, and to receive oral and/or written objections from any resident or property owner of the City to such action, and the right to petition for an election thereon. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE, IOWA: Section 1. That this Council meet in the Council Chambers, City Hall, 230 W. Hickman Road, Waukee, Iowa, at 5:30 P.M., on the 15°i day of May, 2023, for the purpose of taking action on the matter of the issuance of not to exceed $3,000,000 Stormwater Revenue Bonds, 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 Stormwater Management Utility, including those costs associated with the Little Walnut Creek Regional Stormwater Wetlands project. Section 2. That the Clerk is hereby directed to cause at least one publication 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 said City the publication to be not less than thirty (30) clear days before the date of said public meeting on the issuance of the Bonds. Section'). The form notice of the proposed action in substantially the following form is hereby ratified and approved: (To be published on or before April 12, 2023) NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE, IOWA ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $3,000,000 STORMWATER REVENUE BONDS, AND THE PUBLIC HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the Council of the City of Waukee, Iowa, will hold a public hearing on the 15' day of May, 2023, at 5:30 P.M., in the Council Chambers, City Hall, 230 W. Hickman Road, Waukee, Iowa, at which meeting the Council proposes to take additional action for the authorization of a Loan Agreement and the issuance of not to exceed $3,000,000 Stormwater Revenue Bonds, at a rate not exceeding 9%, to evidence the obligations of the City under said Loan 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 Stormwater Management Utility, including those costs associated with the Little Walnut Creek Regional Stormwater Wetlands project. The Bonds 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 Stormwater Management Utility. Pursuant to Chapter 100 of the City of Waukee Code of Ordinance, Stormwater Management Utility service charges are imposed upon and collected from the owners or occupants of all lots, parcels of real estate and buildings that discharge stornwater or surface or subsurface waters, directly or indirectly to the City stormwater drainage system within the corporate limits of the City. Effective July 1, 2022, flat rates will be charged for each class of property as follows: Undeveloped ($0.00/month), and Residential ($6.50/month). Commercial/Industrial parcels are charged $6.50 per "equivalent residential unit" (ERU). ERU's are the average impervious area of residential developed property per dwelling unit located within the city as periodically determined and established by the City to be two thousand nine hundred seventy three (2,973) square feet of impervious surface area. The number of ERU on each property shall be calculated by the Engineering Department based on the most recent aerial photograph available to the city of Waukee and/or impervious surface data from an approved Site Plan for the property. The above rates are invoiced as of the last day of the month and billed on the customers combined service account through the City's Utility Billing Department. Bills shall be due and payable by the twentieth (20'11) of the month following the end of each monthly billing cycle, with late payment penalties, liens, and discontinuation of service as outlined in Chapter 100 of the City of Waukee Code of Ordinance. Rates and billing procedures may be adjusted by the City from time to time. Stormwater fees remaining unpaid and delinquent shall constitute a lien upon the premises served and shall be certified by the Clerk to the County Treasurer for collection in the same manner as property taxes. At any time before the date of said meeting, a petition asking that the question of issuing such Bonds be submitted to the legal voters of said City may be filed with the City Clerk, pursuant to the provisions of Section 384.84A of the Code of Iowa. 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 this meeting or at any adjournment thereof, take additional action for the issuance of Bonds or will abandon the proposal to issue the Bonds. This Notice is given by order of the Council of Waukee, Iowa, as provided by Section 384.84A of the Code of Iowa, as amended. Dated this 1011' day of April, 2023. Rebecca D. Schuett City Clerk of Waukee, Iowa (End ot'Notice) PASSED AND APPROVED this 10`" day of April, 2023. ATTEST: L14� (�- 61� City Clerk RESULTS OF VOTE: AYE Anna Bergman Pierce R. Charles Bottenberg Chris Crone X Larry R. Lyon X Ben Sinclair X O(L-- Mayor NAY ABSENT X X ABSTAIN