HomeMy WebLinkAbout2025-11-17 I01G_04 Bonds, GO Urban Renewal or CLN $9M_Set PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 17, 2025
AGENDA ITEM:Consideration of approval of a resolution fixing date for a meeting on the
proposition to issue Not to Exceed $9,000,000 General Obligation Urban
Renewal Bonds or Capital Loan Notes (UR)
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The proposed bond proceeds will be used to provide
funds to pay the costs of aiding in the planning, undertaking and carrying
out of urban renewal projects under the authority of Iowa Code chapter
384 and 403 and the Urban Renewal Plan, as amended, for the Waukee
Consolidated Urban Renewal Area, including the University Avenue
Improvements, 10th Street Extension, Downtown Street Improvement
and South Warrior Lane Extension projects.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $9,000,000
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution setting the public hearing date for December
15, 2025
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
I1G4
RESOLUTION 2025-
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$9,000,000 GENERAL OBLIGATION URBAN RENEWAL
BONDS OR CAPITAL LOAN NOTES OF THE CITY OF
WAUKEE, STATE OF IOWA (FOR URBAN RENEWAL
PURPOSES), AND PROVIDING FOR PUBLICATION OF
NOTICE THEREOF
WHEREAS, by Resolution No. 19-402, adopted November 4, 2019, the City approved and
adopted Amendment No. 1 to the Waukee Consolidated Urban Renewal Plan (the "Plan" or "Urban
Renewal Plan"), which unified the existing Gateway Economic Development Urban Renewal
Area, Waukee West Urban Renewal Area, and Waukee Central Urban Renewal Area into the
Waukee Consolidated Urban Renewal Area (the "Area" or "Urban Renewal Area") described
therein, which Plan has been subsequently amended in January 2020 (2), July 2020 (3), November
2020 (4), November 2021 (5), November 2022 (6), December 2022 (7), November 2023 (8),
September 2024 (9), and November 2025 (10), which amendments found and determined that
certain areas located within the City are eligible and should be designated as an urban renewal area
under law, and added additional property to the Area and updated the list of projects and cost
estimates for the City’s urban renewal projects, which is on file in the office of the Recorder of
Dallas County; and
WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa,
should issue General Obligation Urban Renewal Bonds or Capital Loan Notes,, to the amount of
not to exceed $9,000,000, as authorized by Chapters 384 and 403, of the Code of Iowa, for the
purpose of providing funds to pay costs of carrying out urban renewal purpose project(s) as
hereinafter described; and
WHEREAS, the Bonds or Capital Loan Notes shall be payable from the Debt Service
Fund; and
WHEREAS, before bonds or notes may be issued, it is necessary to comply with the
procedural requirements of Chapters 384 and 403 of the Code of Iowa, and to publish a notice of
the proposal to issue such bonds or notes and the right to petition for an election.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
WAUKEE, STATE OF 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 15th day of December, 2025, for the purpose
of taking action on the matter of the issuance of not to exceed $9,000,000 General Obligation
Urban Renewal Bonds or Capital Loan Notes, for urban renewal purposes, the proceeds of which
will be used to provide funds to pay the 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 Plans, as amended, for the Waukee Consolidated Urban Renewal Area, as amended,
including 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; including for the University Avenue
Area improvements, including the 10th Street Extension project, and Downtown Street
Improvements projects.
Section 2.To the extent any of the projects or activities described in this resolution may
be reasonably construed to be included in more than one classification under Subchapter III of
Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose"
classification and procedure with respect to each such project or activity, pursuant to Section
384.28 of the Code of Iowa.
Section 3.The Clerk is authorized and directed to proceed on behalf of the City in
preparing such sale information as may appear appropriate, to distribute the same on behalf of
the City and this Council and otherwise to take all action necessary to permit the completion of
an issuance on a basis favorable to the City and acceptable to the Council.
Section 4.That the Clerk is hereby directed to cause at least one publication to be made
of a notice of the meeting, in a legal newspaper, printed wholly in the English language,
published at least once weekly, and having general circulation in the City. The publication to be
not less than ten clear days nor more than twenty days before the date of the public meeting on
the proposed issuance.
Section 5.The notice of the proposed action to issue shall be in substantially the
following form:
(To be published between November 25, 2025 – December 2, 2025 (dates inclusive))
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF
THE PROPOSED ISSUANCE OF NOT TO EXCEED $9,000,000
GENERAL OBLIGATION URBAN RENEWAL BONDS OR
CAPITAL LOAN NOTES OF THE CITY (FOR ESSENTIAL
CORPORATE URBAN RENEWAL PURPOSES), 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 15th day of December, 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 issuance of not to exceed $40,000,000 General
Obligation Urban Renewal Bonds Capital Loan Notes, for urban renewal purposes, to provide
funds to pay the 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 Plans, as
amended, for the Waukee Consolidated Urban Renewal Area, as amended, including 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; including for the University Avenue Area
improvements, including the 10th Street Extension project, and Downtown Street Improvements
projects. Principal and interest shall be payable from the Debt Service Fund.
At any time before the date of the meeting, a petition, asking that the question of issuing
such Bonds or Notes be submitted to the legal voters of the City, may be filed with the Clerk of
the City in the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions
of Chapters 384 and 403 of the Code of Iowa.
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 $13.50.
This estimate only considers the impact on property taxes of financing authority established by
this hearing for the above-described project(s). The bonds or notes may be issued in one or more
series over a number of years. Finance authority established by this hearing 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.
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 issuance of the Bonds or Capital Loan Notes to evidence the obligation
of the City thereunder or will abandon the proposal to issue said Bonds or Notes.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Chapters 384 and 403 of the Code of Iowa.
Dated this 17th day of November, 2025.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)
PASSED AND APPROVED this 17th day of November, 2025.
Mayor
ATTEST:
City Clerk