HomeMy WebLinkAbout2025-01-20 G03 NTE $929,000 Sewer Revenue CLN_PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 20, 2025
AGENDA ITEM:Public Hearing on the Authorization of a Loan and Disbursement
Agreement and the issuance of Notes to evidence the obligation of the
City thereunder [Not to exceed $929,000 Sewer Revenue Capital Loan
Notes]
FORMAT:Public Hearing
SYNOPSIS INCLUDING PRO & CON: The NE Outfall Sewer Project was financed with a
low interest loan from the State Revolving Fund (SRF). As part of the SRF loan, the City of
Waukee has the ability to amend the loan which turns a portion of the loan’s interest
(approximately 1%) into principal to fund water resource restoration sponsored projects.
The Cities of Clive and Waukee have partnered together to restore a section of the Little Walnut
Creek stream between N Warrior Lane and NW 156th Street. The Water Resource Restoration
Sponsored Project includes restoration of approximately 16,000 feet of Little Walnut Creek
within the City of Clive’s municipal boundary. This section of Little Walnut Creek is degraded
and unstable, discharging an estimated 14,495 tons of soil erosion annually from the channel
itself.
This public hearing is to amendment the SRF loan the City of Waukee used for the construction
of the NE Outfall Sewer Project to partially finance the Clive-Waukee Sponsored Project. The
sponsored project is currently under construction with an anticipated completion date of July
2025.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Hold the Public Hearing.
ATTACHMENTS: I. Notice of Public Hearing
PREPARED BY:Rudy Koester
REVIEWED BY:Rudy Koester RK
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
G3
(To be published on or before: January 14, 2025)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF
THE PROPOSED AUTHORIZATION OF A LOAN AND
DISBURSEMENT AGREEMENT AND THE ISSUANCE OF
$929,000 SEWER REVENUE CAPITAL LOAN NOTES, AND
THE HEARING ON THE ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waukee, State of Iowa,
will hold a public hearing on the 20th day of January, 2025, at 5:30 P.M., in the Council
Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at which meeting the Council
proposes to take additional action for the authorization of a Loan and Disbursement Agreement
by and between the City and the Iowa Finance Authority and the issuance to the Iowa Finance
Authority of $929,000 Sewer Revenue Capital Loan Notes, to evidence the obligations of the
City under the said Loan and Disbursement 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 Municipal Sewer Utility, including those costs associated with the
Little Walnut Creek Sponsored Project. The Notes 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 Municipal Sewer Utility.
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 the meeting or at any adjournment thereof, take additional action
for the authorization of a Loan and Disbursement Agreement and the issuance of the Notes to
evidence the obligation of the City thereunder or will abandon the proposal to issue said Notes.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Sections 384.24A and 384.83 of the Code of Iowa.
Dated this 6th day of January, 2025.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)