HomeMy WebLinkAbout2025-04-21 Resolution 2025-172_Official Intent to Issue Debt for ReimbursementTHE CITY OF WAUKEE, IOWA
RESOLUTION 2025-172
RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY
REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR CERTAIN
ORIGINAL EXPENDITURES PAID IN CONNECTION WITH SPECIFIED PROJECTS
IN THE NAME AND BY THE A UTHORITY OF THE CITY OF WA UKEE, IOWA
WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas County;
AND,
WHEREAS, the City anticipates making cash expenditures for one or more capital improvement
projects, generally described and attached hereto as Exhibit A, and hereinafter referred to as
"Project"; AND,
WHEREAS, the City reasonably expects to issue debt to reimburse the costs of a Project; AND,
WHEREAS, the Council believes it is consistent with the City's budgetary and financial
circumstances to issue this declaration of official intent.
NOW THEREFORE BE IT RESOLVED by the City of Council of the City of Waukee, Iowa:
Section 1. That this Resolution be and does hereby serve as a declaration of official intent under
Treasury Regulation 1.150-2.
Section 2. That it is reasonably expected that capital expenditures will be made in respect of the
foregoing Project, from time to time and in such amounts as this Council determines to be
necessary or desirable under the circumstances then and there existing.
Section 3. That the City reasonably expects to reimburse all or a portion of the foregoing
expenditures with the proceeds of bonds, notes or other indebtedness to be issued or incurred by
the City in the future.
Section 4. That the total estimated costs of the Project, the maximum principal amount of the
bonds, notes or other indebtedness to be issued for the foregoing Project and the estimated dates
of completion of the Project are reasonably expected to be as follows:
See Exhibit A attached
*It is intended to seek grants and other contributions to reduce the amount of borrowing
required for several of the attached projects. If such grants are not received, it is intended that
the costs to be financed will be increased accordingly.
Section 5. That the City reasonably expects to reimburse the above —mentioned Project costs not
later than the later of eighteen months after the capital expenditures are paid or eighteen months
after the property is placed in service.
Section 6. That this Resolution be maintained by the City Clerk in an Official Intent File
maintained in the office of the Clerk and available at all times for public inspection, subject to
such revisions as may be necessary.
PASSED AND APPROVED this 21 sc day of April 2025.
Attest:
I/at&m I Z. A P�
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE:
AYE
R. Charles Bottenberg
X
Chris Crone
X
Rob Grove
X
Anna Bergman Pierce
X
Ben Sinclair
X
("a ��
Courtney Clarke, Mayor
NAY ABSENT ABSTAIN
Exhibit "A"
Reimbursement Resolution - April 21, 2025
Estimated
Resolution #2025-172
Amount to
Estimated Date
Project Advancing Fund Project Cost
Borrow
of Completion
Spring Crest Park
Capital Project
$ 7,000,000
$ 7,000,000
Winter 2027
Painted Woods West Park
Capital Project
$ 3,000,000
$ 3,000,000
Winter 2026
Little Walnut Creek Greenway Trail
Capital Project
$ 2,500,000
$ 2,500,000
Winter 2028
Sustainability - Solar Panels
Capital Project
$ 750,000
$ 750,000
Winter 2028
Ambulance
Capital Project
$ 560,000
$ 560,000
Summer 2027
Ladder Truck
Capital Project
$ 1,900,000
$ 1,900,000
Summer 2028
Old Public Safety Building Refurbish
Capital Project
$ 7,000,000
$ 7,000,000
Winter 2026
Downtown Redevelopment - Old City Hall
Capital Project
$ 1,000,000
$ 1,000,000
Spring 2027
Traffic Signals - SE LA Grant / SE Esker Ridge Drive
Capital Project
$ 300,000
$ 300,000
Winter 2026
Univeristy Ave Extension - Warrior Ln to loth St
Capital Project
$ 79,000,000
$ 79,000,000
Winter 2029
10th Street Extension
Capital Project
$ 23,800,000
$ 23,800,000
Spring 2027
N Warrior / Little Walnut Creek Culvert
Capital Project
$ 6,250,000
$ 6,250,000
Winter 2027
NE Alice's Rd Widening - Phase IA & IB
Capital Project
$ 5,000,000
$ 5,000,000
Spring 2028
Downtown Street Improvements
Capital Project
$ 2,000,000
$ 2,000,000
Summer 2026
NW loth Street - Phase II
Capital Project
$ 1,500,000
$ 1,500,000
Winter 2028
NE Alice's Rd & Douglas Intersection Improvements
Capital Project
$ 1,500,000
$ 1,500,000
Winter 2028
SE Waco Widening
Capital Project
$ 400,000
$ 400,000
Spring 2027
SE Ashworth Widening - Phase II
Capital Project
$ 13,350,000
$ 13,350,000
Winter 2028
Corene Acres Improvements - Phase I & II
Capital Project
$ 8,715,000
$ 8,715,000
Spring 2029
Entrance Signs - 2026-2028
Capital Project
$ 1,500,000
$ 1,500,000
Annually
Developer Lane Additions - 2026-2028
Capital Project
$ 1,050,000
$ 1,050,000
Annually
Kettlestone Trail Development - 2026-2028
Capital Project
$ 300,000
$ 300,000
Annually
Kettlestone Street Light Reimbursement - 2026-2028
Capital Project
$ 450,000
$ 450,000
Annually
West Area Trunk Sewer - Phase III
Sewer
$ 2,000,000
$ 2,000,000
Fall 2026
Corene Acres Improvements - Phase I & II
Sewer
$ 700,000
$ 700,000
Winter 2028
Little Walnut Creek Drive Watermain Improvement
Water
$ 720,000
$ 720,000
Winter 2026
Corene Acres Improvements - Phase I & II
Water
$ 1,300,000
$ 1,300,000
Winter 2028
Boone Drive Booster Station Rehab
Water
$ 650,000
$ 650,000
Spring 2027
CIWW Saylorville Expansion
Water
$ 3,000,000
$ 3,000,000
Winter 2028
Sugar Creek Lane Water Main Installation
Water
$ 600,000
$ 600,000
Spring 2028
Little Walnut Creek Storm Water Wetlands
Storm Water
$ 2,000,000
$ 2,000,000
Spring 2027
Sugar Creek Watershed Improvements - Phase I & 11
Storm Water
$ 5,800,000
$ 5,800,000
Winter 2028