HomeMy WebLinkAbout2020-04-20-Resolution 2020-132_Bonds, Sewer Revenue CLN, Ratify Publication of Hearing NoticeRESOLUTION 2020-132
RESOLUTION RATIFYING, CONFIRMING AND
APPROVING PUBLICATION OF NOTICE OF PUBLIC
HEARING FOR THE ISSUANCE OF NOT TO EXCEED
$1,000,000 SEWER REVENUE CAPITAL LOAN NOTES
WHEREAS, the City of Waukee, State of Iowa, is in need of funds to carry out the
purpose of providing funds to pay the costs of acquisition, construction, reconstruction,
extending, remodeling, improving, repairing and equipping all or part of the Municipal Sewer
System, including those costs associated with the Waukee Public Library Stormwater
Improvements water resource restoration project; and
WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa,
Should provide for the authorization of a Loan and Disbursement Agreement and issuance of
Sewer Revenue Capital Loan Notes, to the amount of not to exceed $1,000,000, as authorized by
Section, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out
corporate purpose project(s); and
WHEREAS, the Loan and Disbursement Agreement and Notes shall be payable solely
and only out of the Net Revenues of the Municipal Sewer System and shall be a first lien on the
future Net Revenues of the Utility; and shall not be general obligations of the City or payable in
any manner by taxation and the City shall be in no manner liable by reason of the failure of the
Net Revenues to be sufficient for the payment of the Loan and Disbursement Agreement and
Notes; and
WHEREAS, the notice of above meeting has been published as required by Sections
384.24A and 384.83 of the Code of Iowa, as amended, and the following action is now
considered to be in the best interests of the City and its residents.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That the action of the Clerk setting a public hearing before the City Council to
meet in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at 5:30 P.M.,
the 20"' day of April, 2020, for the purpose of taking action on the matter of entering into a Loan
and Disbursement Agreement and on the issuance of not to exceed $1,000,000 Sewer Revenue
Capital Loan Notes, the proceeds of which will be used to provide funds to pay the costs of
acquisition, construction, reconstruction, extending, remodeling, improving, repairing and
equipping all or part of the Municipal Sewer System, including those costs associated with the
Waukee Public Library Stormwater Improvements water resource restoration project, is hereby
ratified, confirmed and approved.
Section 2. That the Clerk has caused publication to be made of a notice of said meeting,
in a legal newspaper, printed wholly in the English language, published at least once weekly, and
having general circulation in the City, said publication to be not less than four (4) nor more than
twenty (20) clear days before the date of the public meeting on the issuance of the Notes.
Section 3. That the form of notice of public hearing is hereby ratified, confirmed and
approved.
PASSED AND APPROVED this 20`h day of April, 2020.
Mayor
ATTEST:
City Clerk
RESULTS OF VOTE:
AYE NAY ABSENT ABSTAIN
Anna Bergman
X
R. Charles Bottenberg
X
Chris Crone
X
Larry R. Lyon
X
Ben Sinclair
X