HomeMy WebLinkAbout2025-12-15 Resolution 2025-493_Bonds, GO Urban Renewal, Additional ActionRESOLUTION 2025-493
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $9,000,000 GENERAL OBLIGATION URBAN
RENEWAL BONDS OR CAPITAL LOAN NOTES (UR)
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 $9,000,000 General Obligation Urban Renewal Bonds or Capital Loan
Notes, for the urban renewal purposes, in order 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 l Oth Street Extension
project, and Downtown Street Improvements projects, 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 $9,000,000
General Obligation Urban Renewal Bonds or Capital Loan Notes, for the foregoing urban
renewal 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.
ATTEST:
City Clerk
RESULTS OF VOTE:
R. Charles Bottenberg
Chris Crone
Rob Grove
Anna Bergman Pierce
Ben Sinclair
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Mayor
AYE NAY ABSENT ABSTAIN
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