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HomeMy WebLinkAbout2004-01-29-Resolutions 04-23_Bonds - GO Refunding Taxable Series 2004 - AwardRESOLUTION NO.04-23 ) ----------------------------- Awarding $465,000 General Obligation Refunding Bonds,Taxable,Series 2004 WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa, the City of Waukee,in the County of Dallas,State ofIowa (hereinafter referred to as the "City")has heretofore proposed to contract indebtedness and enter into a loan agreement (the "Loan Agreement")in the principal amount of $465,000,for the purpose of paying the cost,to that extent,of refunding $445,000 of the City's outstanding General Obligation Corporate Purpose Notes (Taxable),dated April 1,1995,and has published notice of the proposed action and has held a hearing thereon;and WHEREAS,pursuant to advertisement of sale,bids for the purchase of $465,000 General Obligation Refunding Bonds (the "Bonds")to be issued in evidence of the City's obligation under the Loan Agreement were received and canvassed on behalf of the City and the substance of such bids noted in the minutes;and WHEREAS,upon final consideration of all bids,the bid of Bankers'Barile, Madison,Wisconsin and Waukee State Bank,Waukee,Iowa (the "Lender"),is the best, such bid proposing the lowest interest cost to the City; NOW,THEREFORE,Be It Resolved by the City Council of the City of Waukee, Iowa,as follows:] Section 1.The City shall enter into the Loan Agreement with the Lender,in substantially such form as will be placed on file with the Council,providing for a loan to the City in the principal amount of $465,000 for the purpose or purposes set f011h in the preamble hereof. The Mayor and City Clerk are hereby authorized and directed to sign the Loan Agreement on behalf of the City,and the Loan Agreement is hereby approved. Section 2.The bid of the Lender referred to in the preamble is hereby accepted,and the Bonds are hereby awarded to the Lender at the price specified in such bid,together with accrued interest. Section 3.The form of agreement of sale (the "Sale Agreement")of the Bonds to the Lender is hereby approved,and the Mayor and City Clerk are hereby authorized to execute the Sale Agreement for and on behalf ofthe City. I Section 4.All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved January 29,2004. Attest: ROLL CALL VOTE Nicholas C.Gruber Donald L.Bailey,JI. Bill Peard Darlene Stanton JeffV.Mertz AYE X X X X X NAY ABSENT