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HomeMy WebLinkAbout2024-08-28 Resolution 2024-374_Bonds, Not to Exceed $35,000,000 GO Bonds Aquatic Center, Call Special ElectionRESOLUTION 2024-374 RESOLUTION CALLING A SPECIAL CITY ELECTION ON THE ISSUANCE OF NOT TO EXCEED $35,000,000 GENERAL OBLIGATION BONDS OR CAPITAL LOAN NOTES WHEREAS, the City of Waukee, State of Iowa, proposes to contract indebtedness and issue general obligation bonds or capital loan notes to provide funds to pay costs of a general corporate purpose project including acquisition, construction, improvement, and equipping of a new aquatic center, including parking lot and related site improvements; and WHEREAS, Sections 38424A and/or 38426 of the Code of Iowa, provide that before the Council may institute proceedings for the issuance of bonds or notes for a general corporate purpose, it shall call a special city election to permit registered voters to vote upon the proposition of issuing said bonds or notes in accordance with the provisions of such statute; and WHEREAS, neither the proposal for the issuance of the bonds or notes hereinafter set forth, nor any other proposal incorporating any portion of it, has or will have been submitted to the registered voters of the City for a period of more than six months prior to the date of election hereinafter provided; and WHEREAS, the "Dallas County News", and "Des Moines Register" are legal newspapers, printed wholly in the English language, as defined by Section 618.3 of the Code of Iowa, and are published in the City and of general circulation therein; and NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CITY OF WAUKEE, IOWA: Section 1. That there is hereby called a special City election on Tuesday, the 5"' day of November, 2024, at which election there shall be submitted to the registered voters of the City the following question, to -wit: "Shall the City of Waukee, State of Iowa, issue its General Obligation Bonds or Capital Loan Notes in an amount of not exceeding the amount of $35,000,000 for the purpose of acquisition, construction, improvement and equipping of a new aquatic center, including parking lot and related site improvements?" Section 2. That the voting place or places for the election, and the hours the polls shall be opened and closed shall be as set out in the notice of election, such notice to be prepared and approved by the County Commissioner of Elections. Section 3. That the form of ballot to be used at the election shall be of the type authorized by the Code of Iowa that will permit the use of electronic counters and will be in substantially the form set forth in the Notice of Election. That, if more than one public measure shall be submitted to the electors at the time of the election, all such measures shall be printed upon one ballot. Section 4. That the Election Board for the voting precinct or precincts shall be appointed by the County Commissioner of Elections, not less than 15 days before the date of said election, a certified copy of which appointment shall be officially placed on file in the office of the Clerk of the City. Section 5. That the Auditor of Dallas County, Iowa, being the County Commissioner of Elections, is hereby directed to publish the notice of election in two newspapers, the "Dallas County News" and "Des Moines Register", each being a legal newspaper, printed wholly in the English language, as defined by Section 618.3 of the Code of Iowa, published in the City and of general circulation therein, the publication to be not less than four clear days nor more than twenty days prior to the date of the election. However, if there is only one such newspaper, publication in said newspaper shall be sufficient. Section 6. That the County Commissioner of Elections shall cause to be prepared all such ballots and election registers and other supplies as may be necessary for the proper and legal conduct of said election. The Clerk is hereby authorized and directed to cooperate with said Commissioner of Elections and to do and prepare all necessary matters in order to make said election legal and valid. Section 7. That the Clerk is hereby directed to file a certified copy of this Resolution in the office of the County Commissioner of Elections, which filing shall also constitute the "written notice" to the County Commissioner of Elections of the election date required to be given by the governing body under the provisions of Chapter 47 of the Code of Iowa. Section 8. That the Commissioner of Elections is hereby directed to mail to each registered voter in the City a notice of the election which includes the full text of the public measure to be voted upon; said notice to be mailed not less than ten (10) nor more than twenty (20) days before the day of the election. Section 9. That the Clerk is hereby directed to cause at least one publication to be made of a notice of the Council action in calling the election in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in the City, such publication to be made with the minutes of this meeting. The notice of the Council's action to call an election on the proposal to issue the above bonds or notes shall be in substantially the following form: (To be published with the minutes of the August 28, 2024 Council meeting at which the election was called) NOTICE OF PROPOSAL OF THE CITY OF WAUKEE, IOWA TO ISSUE NOT TO EXCEED $35,000,000 GENERAL OBLIGATION BONDS OR CAPITAL LOAN NOTES, ELECTION CALLED; PROJECT DETAILS. On August 28, 2024, the City Council of the City of Waukee, Iowa, took action to call an election on November 5, 2024 upon the proposal to issue not to exceed $35,000,000 General Obligation Bonds or Capital Loan Notes for the purpose of acquisition, construction, improvement and equipping of a new aquatic center, including parking lot and related site improvements. The total project cost is estimated at $33,000,000. The annual increase in property taxes as the result of the issuance on a residential property with an actual value of one hundred thousand dollars is estimated not to exceed $57.86. This estimate only considers the impact on property taxes of financing authority established by this election for the above -described project(s). The bonds or capital loan notes may be issued in one or more series over a number of years. Finance authority established by this election may be combined with additional finance authority, causing the estimate for the annual increase in property taxes for the entire issuance to be greater than the estimate stated herein. Changes in other levies may cause the actual annual increase in property taxes to vary. This notice is given by order of the City Council of the City of Waukee, State of Iowa, as provided by Section 384.26 of the Code of Iowa. Dated this 28r" day of August, 2024. Rebecca D. Schuett City Clerk, City of Waukee, State of Iowa (End of Notice) PASSED AND APPROVED this 28"' day of August, 2024. ATTEST: '/� (X ' &Lv� City Clerk RESULTS OF VOTE: AYE R. Charles Bottenberg X Chris Crone X Rob Grove X Anna Bergman Pierce X Ben Sinclair X Mayor NAY ABSENT ABSTAIN