HomeMy WebLinkAbout2023-05-15 G07 Bonds_Stormwater Revenue_NW Sunrise_PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 15, 2023
AGENDA ITEM:On the issuance of not to exceed $600,000 Stormwater Revenue Bonds
(NW Sunrise)
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 NW Sunrise project.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $600,000
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
G7
(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 $600,000 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 $600,000 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 NW Sunrise 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 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)