HomeMy WebLinkAbout2004-01-29-Resolutions 04-24_Bonds - GO Water - AwardAwarding $1,090,000 General Obligation Water Bonds
RESOLUTION NO.04-24
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$1,090,000,for the purpose of paying
the cost,to that extent,of the construction,reconstruction,improvement,extension and
equipping of the Municipal Waterworks System of the City,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
$1,090,000 General Obligation Water 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'Bank,
Madison,Wisconsin,and Waukee State Bartle,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$1,090,000 for the purpose or purposes set forth 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 of the 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repealed to the extent of such conflict.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.
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,Jr.
Bill Pcard
Darlene Stanton
JeffV.Mertz
AYE
X
X
X
X
X
NAY ABSENT