HomeMy WebLinkAbout2023-05-15 G06 Bonds_Stormwater Revenue_Little Walnut Creek Regional Wetlands_PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 15, 2023
AGENDA ITEM:On the issuance of not to exceed $3,000,000 Stormwater Revenue Bonds
(Little Walnut Creek Regional Wetlands)
FORMAT:Public Hearing
SYNOPSIS INCLUDING PRO & CON: The proposed Stormwater Revenue Bonds will be
used to pay the cost 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.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $3,000,000
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Hold the public hearing
ATTACHMENTS: I. Notice of Public Hearing
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION: Des Moines Register
DATE OF PUBLICATION: April 11, 2023
G6
(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 15th 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 stormwater 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 (20th) 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 10th day of April, 2023.
Rebecca D. Schuett
City Clerk of Waukee, Iowa
(End of Notice)