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HomeMy WebLinkAbout2020-02-04-Resolution 2020-052_Set Public Hearing Date, Bonds, GO Loan AgreementRESOLUTION 2020-052 RESOLUTION FIXING DATE FOR A MEETING ON THE IMPOSITION OF A TAX TO PAY A GENERAL OBLIGATION LOAN AGREEMENT OF THE CITY OF WAUKEE, STATE OF IOWA (FOR ESSENTIAL CORPORATE PURPOSES) IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $1,200,000, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, on May 20, 2019, the City of Waukee, State of Iowa approved a 28E Agreement with the City of West Des Moines, Iowa relative to their joint participation in the Ashworth Road Reconstruction Project — Phase 3 (the "Project'). Under the 28E Agreement, West Des Moines serves as the lead agency responsible for bidding out and overseeing construction of the improvements. Both cities shared in the cost — 65% payable by West Des Moines, 35% payable by Waukee per the terms outlined in the 28E Agreement. The Project is nearing completion, and payment obligations under the 28E Agreement (the "Loan Agreement') will commence in fiscal year 2020/21; and WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa, should provide for the authorization of tax to pay its obligations under the Loan Agreement to the principal amount of not to exceed $1,200,000, as authorized by Sections 384.24A and 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, the Loan Agreement shall be payable from the Debt Service Fund; and WHEREAS, before a tax may be levied to pay a General Obligation Loan Agreement, it is necessary to comply with the provisions of the Code of Iowa, as amended, and to publish a notice of the proposal and of the time and place of the meeting at which the Council proposes to take action for the imposition of the tax to pay the Loan Agreement 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 181h day of February, 2020, for the purpose of taking action on the matter of the imposition of a tax to pay a General Obligation Loan Agreement, 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 and public grounds; construction, reconstruction and repair of any street, sidewalk, storm sewer, sanitary sewer, water, street lighting and traffic control device improvements; undertaking any project jointly or in cooperation with any other governmental body which, if undertaken by the City alone, would be for an essential corporation purpose, including the joint purchase, acquisition, construction, ownership or control of any real or personal property, including the Ashworth Road Reconstruction Project — Phase 3 with the City of West Des Moines. 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 Division 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. 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 called herein. Section 4. The notice of the proposed action to issue notes shall be in substantially the following form: (To be published on or before: February 7, 2020) NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF THE IMPOSITION OF TAX TO PAY A GENERAL OBLIGATION LOAN AGREEMENT TO THE PRINCIPAL AMOUNT OF NOT TO EXCEED $1,200,000 (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 181h day of February, 2020, 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 imposition of tax to pay a General Obligation Loan Agreement to the principal amount of not to exceed $1,200,000, 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 and public grounds; construction, reconstruction and repair of any street, sidewalk, storm sewer, sanitary sewer, water, street lighting and traffic control device improvements; undertaking any project jointly or in cooperation with any other governmental body which , if undertaken by the City alone, would be for an essential corporation purpose, including the joint purchase, acquisition, construction, ownership or control of any real or personal property, including the Ashworth Road Reconstruction Project — Phase 3 with the City of West Des Moines. Principal and interest on the Loan Agreement will be payable from the Debt Service Fund. 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 imposition of tax to pay a General Obligation Loan Agreement or will abandon the proposal. 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 384.25 of the Code of Iowa. Dated this 41h day of February, 2020. Rebecca D.Schuett City Clerk, City of Waukee, State of Iowa (End of Notice) PASSED AND APPROVED this 4"' day of February, 2020. ATTEST: City Clerk RESULTS OF VOTE: AYE Anna Bergman R. Charles Bottenberg X Chris Crone X Larry R. Lyon X VACANTSEAT nn Mayor NAY ABSENT ABSTAIN X