HomeMy WebLinkAbout2024-06-03 Resolution 2024-232_Set Public Hearing Date, Bonds, GO Series 2023B ReallocationRESOLUTION 2024-232
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSAL TO REALLOCATE CERTAIN UNSPENT
PROCEEDS OF THE GENERAL OBLIGATION BONDS,
SERIES 202313, OF WAUKEE, IOWA, AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, the City Council of the City of Waukee, Iowa has previously issued its
General Obligation Bonds, Series 202313, in the aggregate principal amount of $38,305,000 (the
"Series 2023B Bonds"), for costs of opening, widening, extending, grading, and draining of the
right-of-way of streets, highways, avenues, alleys and public grounds, and market places, and the
removal and replacement of dead or diseased trees thereon; the construction, reconstruction, and
repairing of any street improvements, bridges, grade crossing separations and approaches; the
acquisition, installation, and repair of sidewalks, culverts, retaining walls, storm sewers, sanitary
sewers, water service lines, street lighting, and traffic control devices and signage; constructing,
improving, equipping of city facilities, including a public safety building, and acquisition of real
estate therefore; aiding in the planning, undertaking or carrying out of urban renewal projects
under the authority of Iowa Code chapter 403, and the Urban Renewal Plan, as amended, for the
Waukee Consolidated Urban Renewal Area, including the construction, improvement, and
equipping of a public safety facility, including fire and police services necessary to protect and
serve the commercial and industrial development within the urban renewal area, with related
utility and site improvements, and acquisition of real estate therefore; and aiding in the planning,
undertaking and carrying out of urban renewal projects under the authority of Iowa Code chapter
403, and the Urban Renewal Plans for the Towne Center Urban Renewal Area, as amended, and
the Waukee Consolidated Urban Renewal Area, as amended, including funding incentive
payments pursuant to a development agreement with Waukee Towne Center, LLC; and
WHEREAS, certain proceeds of the Series 202313 Bonds remain unspent, and City staff
has recommended that $7,289,464.88 of such unspent proceeds originally related to the Series
2023B Bonds (hereinafter referred to as the "Unspent Proceeds") be applied for the purpose of
paying costs of aiding in the planning, undertaking and carrying out of urban renewal projects
under the authority of Iowa Code chapter 403 and the Urban Renewal Plan, as amended, for the
Waukee Consolidated Urban Renewal Area, including the University Avenue Extension Projects
(the "Project"); and
WHEREAS, there being no procedure specified under Iowa law for consideration or
approval of such a reallocation, it is hereby determined, pursuant to Section 364.6 of the Code of
Iowa, that the procedure set forth in Section 38425 should apply and that a hearing be held upon
the proposal to reallocate the Unspent Proceeds to provide funds for paying costs of the Project.
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 West
Hickman Road, Waukee, Iowa, at 5:30 P.M., on the 17"' day of June, 2024, for the purpose of
taking action on the matter of the proposed reallocation of certain Unspent Proceeds in the
amount of $7,289,464.88 of the Series 2023B Bonds to provide funds for paying costs of aiding
in the planning, undertaking and carrying out of urban renewal projects under the authority of
Iowa Code chapter 403 and the Urban Renewal Plan, as amended, for the Waukee Consolidated
Urban Renewal Area, including the University Avenue Extension Projects.
Section 2. That the City Clerk is hereby directed to cause one publication to be made of
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, said publication to be not less than
four nor more than twenty clear days before the date of said public meeting.
Section 3. The notice of the proposed action shall be in substantially the following form:
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE, IOWA, ON THE MATTER OF THE
PROPOSED REALLOCATION OF CERTAIN UNSPENT
PROCEEDS OF THE GENERAL OBLIGATION BONDS,
SERIES 2023B, OF THE CITY OF WAUKEE, IOWA, AND THE
PUBLIC HEARING THEREON
PUBLIC NOTICE is hereby given that the Council meet in the Council Chambers, City
Hall, 230 West Hickman Road, Waukee, Iowa, at 5:30 P.M., on the 171" day of June, 2024, for
the purpose of taking action on the matter of the proposed reallocation of certain Unspent
Proceeds of the Series 2023B Bonds to provide funds for paying costs of aiding in the planning,
undertaking and carrying out of urban renewal projects under the authority of Iowa Code chapter
403 and the Urban Renewal Plan, as amended, for the Waukee Consolidated Urban Renewal
Area, including the University Avenue Extension Projects.
Any person interested may appear at the public hearing, either orally or in writing, and be
heard as to the reallocation of said proceeds of the Series 2023B Bonds for the above purposes.
This Notice is given by order of the Council of Waukee, Iowa, as provided by Sections
364.6 and 384.25 of the Code of Iowa, as amended.
Dated this Yd day of June, 2024.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)
PASSED AND APPROVED this 3`d day of June, 2024.
ATTEST:
L�k�- (P-.
City Clerk
RESULTS OF VOTE:
AYE
R. Charles Bottenberg
X
Chris Crone
X
Rob Grove
X
Anna Bergman Pierce
X
Ben Sinclair
X
Mayor Pr ern
NAY ABSENT ABSTAIN