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Home My WebLink About2023-04-17 Resolution 2023-152_Official Intent to Issue Debt for ReimbursementTHE CITY OF WAUKEE, IOWA RESOLUTION 2023-152 RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR CERTAIN ORIGINAL EXPENDITURES PAIL) IN CONNECTION WITH SPECIFIED PROJECTS IN THE NA ME AND BY THE A UTHORITY OF THE CITY OF WA UKEE, IOWA WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas County; AND, WHEREAS, the City anticipates making cash expenditures for one or more capital improvement projects, generally described and attached hereto as Exhibit A, and hereinafter referred to as "Project"; AND, WHEREAS, the City reasonably expects to issue debt to reimburse the costs of a Project; AND, WHEREAS, the Council believes it is consistent with the City's budgetary and financial circumstances to issue this declaration of official intent. NOW THEREFORE BE IT RESOLVED by the City of Council of the City of Waukee, Iowa: Section 1. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2. Section 2. That it is reasonably expected that capital expenditures will be made in respect of the foregoing Project, from time to time and in such amounts as this Council determines to be necessary or desirable under the circumstances then and there existing. Section 3. That the City reasonably expects to reimburse all or a portion of the foregoing expenditures with the proceeds of bonds, notes or other indebtedness to be issued or incurred by the City in the future. Section 4. That the total estimated costs of the Project, the maximum principal amount of the bonds, notes or other indebtedness to be issued for the foregoing Project and the estimated dates of completion of the Project are reasonably expected to be as follows: See Exhibit A attached *It is intended to seek grants and other contributions to reduce the amount of borrovning required for several o0he attached projects. Ifsuch grants are not received, it is intended that the costs to be, financed will be increased accordingly. Section 5. That the City reasonably expects to reimburse the above —mentioned Project costs not later than the later of eighteen months after the capital expenditures are paid or eighteen months after the property is placed in service. Section 6. That this Resolution be maintained by the City Clerk in an Official Intent File maintained in the office of the Clerk and available at all times for public inspection, subject to such revisions as may be necessary. PASSED AND APPROVED this 17'' day of April 2023. Attest:tq't"' /� 11/ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE Anna Bergman Pierce X R. Charles Bottenberg X Chris Crone X Larry R. Lyon X Ben Sinclair X Bottenberg, Mayor Pro Tern NAY ABSENT ABSTAIN Exhibit "A" Reimbursement Resolution - April 17, 2023 Resolution 152 Amount to Borrow Estimated Date of Completion Estimated Project Advancing Fund Project Cost Stratford Crossing Park Capital Project $ 3,000,000 $ 3,000,000 Winter 2024 Spring Crest Park Capital Project $ 4,000,000 $ 4,000,000 Winter 2025 Painted Woods West Park Capital Project $ 2,000,000 $ 2,000,000 Winter 2025 Stone Prairie Park Capital Project $ 700,000 $ 700,000 Winter 2026 Windfield II Park Capital Project $ 500,000 $ 500,000 Winter 2026 Vineyard Property- Phase I Capital Project $ 1,000,000 $ 1,000,000 Winter 2026 Ashworth Trial head Capital Project $ 300,000 $ 300,000 Winter 2023 Prairie Rose Greenway Trail Capital Project $ 1,000,000 $ 1,000,000 Winter 2024 Kettlestone Greenway Trail - Phase III Capital Project $ 1,200,000 $ 1,200,000 Winter 2025 Hickman Rd / Warrior Lane Pedestrian Overpass Capital Project $ 2,500,000 $ 2,500,000 Winter 2026 Public Safety Building & Equipment Capital Project $ 60,000,000 $ 60,000,000 Fall 2025 Traffic Signals - Hickman and Waco/Brick Capital Project $ 915,000 $ 915,000 Winter 2023 Traffic Signals- NW Douglas and NW loth/N Warrior Capital Project $ 950,000 $ 950,000 Winter 2023 Traffic Signals - Kettlestone Area Capital Project $ 850,000 $ 850,000 Winter 2024 Traffic Signals - Hickman / 161st / SE Legacy Point Capital Project $ 400,000 $ 400,000 Winter 2024 Traffic Signals - SE LA Grant / SE Esker Ridge Drive Capital Project $ 150,000 $ 150,000 Winter 2026 Traffic Signals - Hickman FYA Conversion Capital Project $ 205,000 $ 205,000 Winter 2024 Safe Routes to Schools Capital Project $ 315,000 $ 315,000 Winter 2024 NE Douglas Pkwy Extenstion Capital Project $ 1,775,000 $ 1,775,000 Spring 2025 NW 6th St / Little Walnut Creek Culvert Capital Project $ 715,000 $ 715,000 Spring 2024 Ute Ave Overlay Capital Project $ 300,000 $ 300,000 Spring 2025 SE Archer Extension Capital Project $ 1,000,000 $ 1,000,000 Spring 2025 T Ave Improvements Capital Project $ 8,000,000 $ 8,000,000 Spring 2025 Univeristy Ave Extension - Warrior Ln to 10th St Capital Project $ 48,000,000 $ 48,000,000 Winter 2028 N Warrior/ Little Walnut Creek Culvert Capital Project $ 5,000,000 $ 5,000,000 Winter 2026 NE Alice's Rd Widening - Phase VI Capital Project $ 7,560,000 $ 7,560,000 Winter 2026 Corene Acres Improvements - Phase I Capital Project $ 4,915,000 $ 4,915,000 Winter 2026 Entrance Signs - 2024-2026 Capital Project $ 450,000 $ 450,000 Annually Developer Lane Additions - 2024-2026 Capital Project $ 1,500,000 $ 1,500,000 Annually Kettlestone Trail Development - 2024-2026 Capital Project $ 300,000 $ 300,000 Annually Kettlestone Street Light Reimbursement- 2024-2026 Capital Project $ 300,000 $ 300,000 Annually NE Outfall Sewer Sewer $ 13,150,000 $ 13,150,000 Spring 2024 West Area Trunk Sewer- Phase II Sewer $ 5,315,000 $ 5,315,000 Spring 2024 Sunset Ridge West Sewer Extension Sewer $ 1,750,000 $ 1,750,000 Winter 2024 Lift Station #2 Rehabilitation Sewer $ 2,380,000 $ 2,380,000 Spring 2024 Bluestem Trunk Sewer - Phase 11 Sewer $ 1,065,000 $ 1,065,000 Spring 2025 Lift Station #4 Rehabilitation Sewer $ 590,000 $ 590,000 Winter 2025 Lift Station #6 Rehabilitation Sewer $ 660,000 $ 660,000 Winter 2025 West Area Trunk Sewer- Phase III Sewer $ 1,500,000 $ 1,500,000 Winter 2025 Corene Acres Improvements - Phase I Sewer $ 650,000 $ 650,000 Winter 2026 Elevated Water Storage Tank Water $ 7,600,000 $ 7,600,000 Winter202S Transite Water Main Replacement - Phase III Water $ 800,000 $ 800,000 Winter 2023 Transite Water Main Replacement - Phase IV Water $ 800,000 $ 800,000 Winter 2025 Little Walnut Creek Drive Watermain Improvement Water $ 710,000 $ 710,000 Winter 2026 Corene Acres Improvements - Phase I Water $ 850,000 $ 850,000 Winter 2026 TBS No 1 - Install & NNG Tap Gas $ 2,033,000 $ 2,033,000 Winter 2024 TBS No 2 - DSM B Line Loop & Rehabilitation Gas $ 4,585,000 $ 4,585,000 Winter 2026 NW Sunrise Culver Crossing Storm Water $ 450,000 $ 450,000 Winter 2023 Little Walnut Creek Storm Water Wetlands Storm Water $ 2,520,000 $ 2,520,000 Winter 2024 Waukee Towne Center Pond Storm Water $ 2,100,000 $ 2,100,000 Spring 2025 Sugar Creek Watershed Improvements - Phase I Storm Water $ 1,500,000 $ 1,500,000 Winter 2026