HomeMy WebLinkAbout2024-06-17 Resolution 2024-237_Bonds, GO ECP, Additional ActionRESOLUTION 2024-237
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $4,000,000 GENERAL OBLIGATION BONDS OR
CAPITAL LOAN NOTES (ECP)
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the authorization of the
issuance of not to exceed $4,000,000 General Obligation Bonds or Capital Loan Notes, for the
essential corporate purposes, in order to provide funds to pay the 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; and the acquisition of any real estate needed for any of the
foregoing purposes, and has considered the extent of objections received from residents or
property owners as to the proposed issuance of the Bonds or Capital Loan Notes; and the
following action is now considered to be in the best interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That this Council does hereby institute proceedings and take additional action
for the authorization and issuance in the manner required by law of not to exceed $4,000,000
General Obligation Bonds or Capital Loan Notes, for the foregoing essential corporate purposes.
Section 2. This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.150-2 and shall be maintained on file as a public record of such intent. It is
reasonably expected that the general fund moneys may be advanced from time to time for capital
expenditures which are to be paid from the proceeds of the above Bonds or Notes. The amounts
so advanced shall be reimbursed from the proceeds not later than eighteen months after the initial
payment of the capital expenditures or eighteen months after the property is placed in service.
Such advancements shall not exceed the amount authorized in this Resolution unless the same
are for preliminary expenditures or unless another declaration of intention is adopted.
PASSED AND APPROVED this 17th day of June, 2024.
Mayor
ATTEST:
City Clerk
RESULTS OF VOTE:
AYE
R. Charles Bottenberg
Chris Crone
X
Rob Grove
X
Anna Bergman Pierce
X
Ben Sinclair
X
NAY ABSENT ABSTAIN
X