HomeMy WebLinkAbout2003-01-27-Resolutions 03-23_Bonds - GO Borrowing - AuthorizeTHE CITY OF WAUKEE,lOW A
RESOLUTION 03-23
APPROVING AND AUTHORIZING THE CITY ADMINISTRATOR TO
PROCEED WITH THE 2004 GENERAL OBLIGATION BORROWING
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,Council and Staff have identified capital improvement projects which are to
be started,if not finished,during the 2004 fiscal year;AND,
WHEREAS,it is estimated that total cost for these capital improvement projects would be
$2,660,000 minus a carry over of $1 00,000 or $2,560,000;AND,
WHEREAS,the capital improvement projects anticipated and the cost of each is as
follows:
Recreation field complex land acquisition
Sewer under 1-80
Hickrnan/Windfield boring
Walnut Ridge sewer or sidewalk construction
University Ave.lAlice's Rd.intersection design
University Ave.paving engineering design
University Ave.lAlice's Rd.land acquisition
University Ave.paving -142nd to Waco
Ashworth Road Paving
Interchange engineering design
6th Street sidewalks from Locust south
Ashworth Drive sidewalks -6th to 10th-2 sides
Total
$280,000
$300,000
125,000
210,000
$635,000
$40,000
150,000
35,000
1,000,000
200,000
200,000
40,000
80,000
$1,745,000
$2,660,000
Estimated funds remaining from streetlight bOlTowing$150,000
Net amount to be borrowed
;AND,
-100,000
$2,560,000
WHEREAS,council approval to begin the process by contacting bond counsel is
anticipated.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session
this 27'h day of January 2003 that it hereby approves authorizing the City Administrator to
proceed with the 2004 General Obligation Borrowing in the amount of $2,560,000.
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ROLL CALL VOTE AYE NAY ABSENT
Nicholas C,Gruber X
Donald L Bailey,IT.X
Bill Peard X
Mike Watts X
Wayne Johnson X