HomeMy WebLinkAbout2025-12-15 H05 Bonds_GCP-2 GO Bonds-Notes_Additional ActionAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: December 15, 2025
AGENDA ITEM:Consideration of approval of a resolution instituting proceedings to take
additional action for the issuance of not to exceed $934,570 General
Obligation Bonds or Capital Loan Notes (GCP-2)
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON:
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $934,570
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H5
RESOLUTION 2025-
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $934,570 GENERAL OBLIGATION BONDS OR
CAPITAL LOAN NOTES (GCP-2)
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the authorization of the
issuance of not to exceed $934,570 General Obligation Bonds or Capital Loan Notes, for the
general corporate purposes, in order to provide funds to pay the costs of construction,
reconstruction, enlargement, improvement and equipping of city facilities and buildings,
including the downtown redevelopment project, and has considered the extent of objections
received from residents or property owners as to the proposed issuance of Bonds or Capital Loan
Notes; and no petition was filed calling for a referendum thereon. The following action is now
considered to be in the best interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1.That this Council does hereby institute proceedings and take additional action
for the authorization and issuance in the manner required by law of not to exceed $934,570
General Obligation Bonds or Capital Loan Notes, for the foregoing general corporate purposes.
Section 2.This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.150-2 and shall be maintained on file as a public record of such intent. It is
reasonably expected that the general fund moneys may be advanced from time to time for capital
expenditures which are to be paid from the proceeds of the above Bonds or Notes. The amounts
so advanced shall be reimbursed from the proceeds not later than eighteen months after the initial
payment of the capital expenditures or eighteen months after the property is placed in service.
Such advancements shall not exceed the amount authorized in this Resolution unless the same
are for preliminary expenditures or unless another declaration of intention is adopted.
PASSED AND APPROVED this 15th day of December, 2025.
Mayor
ATTEST:
City Clerk