HomeMy WebLinkAbout2025-11-17 Resolution 2025-467_Set Public Hearing Date, Bonds, GO ECPRESOLUTION 2025-467
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF THE ISSUANCE OF NOT TO EXCEED
$2,500,000 GENERAL OBLIGATION BONDS OR CAPITAL
LOAN NOTES (ECP) OF THE CITY OF WAUKEE, STATE OF
IOWA (FOR ESSENTIAL CORPORATE PURPOSES), AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa,
should provide for the issuance of General Obligation Bonds or Capital Loan Notes, to the
amount of not to exceed $2,500,000, as authorized by Sections 384.24A and/or 384.25, of the
Code of Iowa, for the purpose of providing funds to pay costs of carrying out essential corporate
purpose project(s) as hereinafter described; and
WHEREAS, before issuing General Obligation Bonds or Capital Loan Notes, to evidence
the obligation of the City thereunder, it is necessary to comply with the provisions of the Code,
and to publish a notice of the proposal to issue such bonds or notes and of the time and place of
the meeting at which the Council proposes to take action for the issuance of the Bonds or Notes
and to receive oral and/or written objections from any resident or property owner of the City to
such action.
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 authorization of the issuance of not to exceed $2,500,000
General Obligation Bonds or Capital Loan Notes, for essential corporate purposes, the proceeds
of which will be used 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.
Section 2. 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 3. 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 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 four clear days nor more than twenty days before the date of the public meeting on
the issuance.
Section 5. The notice of the proposed action to issue shall be in substantially the
following form:
(To be published on or 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 AUTHORIZATION OF THE ISSUANCE OF
NOT TO EXCEED $2,500,000 GENERAL OBLIGATION
BONDS OR CAPITAL LONA NOTES (ECP) OF THE CITY
(FOR ESSENTIAL CORPORATE 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 authorization of the issuance of not to exceed
$2,500,000 General Obligation Bonds or Capital Loan Notes, for essential corporate purposes, 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. Principal and
interest shall be payable from the Debt Service Fund.
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 $3.79.
This estimate only considers the impact on property taxes of financing authority established by
this hearing for the above -described project(s). The bond or note 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 Sections 384.24A and/or 384.25 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
(a_
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg X
Chris Crone X
Rob Grove X
Anna Bergman Pierce X
Ben Sinclair X