HomeMy WebLinkAbout2003-12-15-Resolutions 03-232_Bonds - GO Water Series 2004 - Set PHRESOLUTION NO.03-232
Resolution to fix a date for a public hearing on a loan agreement in the
principal amount of $1,090,000 and the date for the sale of $1,090,000
General Obligation Water Bonds,Series 2004,to be issued in evidence of
the City's obligation thereunder
WHEREAS,the City of Waukee,in the County of Dallas,State of Iowa (the
"City"),proposes to enter into a loan agreement (the "Loan Agreement")in the principal
amount of $1,090,000 pursuant to the provisions of Section 384.24A of the Code ofIowa
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 it is necessary to fix a date of meeting of the Council at which it is proposed to take
action to enter into the Loan Agreement and to give notice thereof as required by such
law;
WHEREAS,the City deems it advisable and necessary at this time to provide for
the sale of General Obligation Water Bonds,Series 2004 (the "Bonds"),in an amount not
to exceed $1,090,000 to be issued in evidence of the City'S obligation under the Loan
Agreement;
NOW,THEREFORE,Be It Resolved by the City Council of the City of Waukee,
Iowa,as follows:
Section 1.This Council shall meet on the 5th day of January,2004,at the City
Hall,Waukee,Iowa,at 7:00 o'clock p.m.,at which time and place a hearing will be held
and proceedings will be instituted and action taken to enter into the Loan Agreement.
Section 2.The City Clerk is hereby directed to give notice of the proposed
action on the Loan Agreement setting forth the amount and purpose thereof,the time
when and place where the said meeting will be held by publication at least once and not
less than 4 nor more than 20 days before the meeting,in a legal newspaper which has a
general circulation in the City.The notice shall be in substantially the following form:
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS
TO ENTER INTO A LOAN AGREEMENT AND BORROW MONEY
IN THE PRINCIPAL AMOUNT OF $1,090,000
(GENERAL OBLIGATION)
The City Council of the City of Waukee,Iowa,will meet on the 51h day of
January,2004,at the City Hall,Waukee,Iowa,at 7:00 o'clock p.m.,for the purpose of
instituting proceedings and taking action to enter into a loan agreement (the "Loan
Agreement")and borrow money 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.
The Loan Agreement is proposed to be entered into pursuant to authority
contained in Section 384.24A ofthe Code ofIowa and will constitute a general obligation
ofthe City.
At the aforementioned time and place,oral or written objections may be filed or
made to the proposal to enter into the Loan Agreement.After receiving objections,the
City may determine to enter into the Loan Agreement,in which case,the decision will be
final unless appealed to the District Court within fifteen (15)days thereafter.
By order of the City Council of the City of Waukee,Iowa.
Mark Arentsen
City Clerk
Section 3.The 29'h day of January,2004,at 1:00 o'clock p.m.,at the City
Hall,Waukee,Iowa,is hereby fixed as the time and place for receiving and canvassing
bids for the purchase of the Bonds in an amount not to exceed $1,090,000,and this
Council shall meet on said date at 7:00 o'clock p.m.,at the City Hall,Waukee,Iowa,for
the purpose of considering such bids received and passing a resolution providing for the
sale and issuance ofthe Bonds.
Section 4.The City Clerk,with the assistance of Dorsey &Whitney LLP,
Attorneys,as Bond Counsel,and Public Financial Management,as Financial Consultants,
is authorized to take such action as shall be deemed necessary and appropriate to prepare
a statement of information and solicitation for bids describing the Bonds and providing
for the terms and conditions of their sale.
Section 5.All resolutions or parts of resolutions 111 conflict herewith are
hereby repealed to the extent of such conflict.
Passed and approved December 15,2003.
Attest:
Iark J.Arentseri,ity Administrator/Clerk
ROLL CALL VOTE
Nicholas C.Gruber
Donald 1,.Bailey,Jr.
Bill Pcard
Mike Watts
Darlene Stanton
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NAY ABSENT