HomeMy WebLinkAbout2003-04-21-Resolutions 03-99_Bonds - GO Corp Purpose - Additional ActionRESOLUTION NO.03-99 ITakingadditionalactioninconnectionwithandcombiningLoan
Agreements and authorizing the sale of General Obligation Corporate
Bonds
WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa,
the City of Waukee,in the County of Dallas,State oflowa (hereinafter referred to as the
"City"),has heretofore proposed to contract indebtedness and enter into a loan agreement
(the "General Corporate Purpose Loan Agreement")for the general corporate purpose of
paying costs in connection with the acquisition of land for the City's recreation field
complex and,in lieu of calling an election on such proposal,has published notice of the
proposed action and has held a hearing thereon,and no petition has been filed asking that
the question of entering into the General Corporate Purpose Loan Agreement be
submitted to the registered voters ofthe City;and
WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa,
notice duly published and hearing held thereon,the City heretofore determined to
contract indebtedness and enter into a loan agreement (the "Essential Corporate Purpose
Loan Agreement")for the essential corporate purpose of paying costs of constructing
certain street,sidewalk and sanitary sewer improvements;and
WHEREAS,pursuant to Section 384.28 of the Code of Iowa,the City may
include any number or combination of essential and general corporate purposes in a
single financing;and ]
WHEREAS,the City deems it advisable and necessary at this time to combine the
General Corporate Purpose Loan Agreement and the Essential Corporate Purpose Loan
Agreement and authorize the sale of General Obligation Corporate Purpose Bonds (the
"Bonds")in an amount not to exceed $1,240,000 to be issued in evidence of the City's
obligation thereunder;
NOW,THEREFORE,It Is Resolved by the City Council of the City of Waukee,
Iowa,as follows:
Section 1.The General Corporate Purpose Loan Agreement and the Essential
Corporate Purpose Loan Agreement are hereby combined,and the City hereby
determines to enter into a single loan agreement (the "Loan Agreement")in the future
and declares that this resolution constitutes the "additional action"required by
Section 384.24A of the Code ofIowa.
Section 2.The 19th day of May,2003,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,and this Council shall meet on said date at 7:00 o'clock p.m.,
at the Council Chambers,City Hall,Waukee,Iowa,for the purpose of considering such
bids received and passing a resolution providing fOTthe sale and issuance ofthe Bonds.J
Section 3.The City Administrator is authorized to take such action as shall be
deemed necessary and appropriate,with the assistance of Dorsey &Whitney LLP,
Attorneys,as Bond Counsel,and Public Financial Management,Inc.,as Financial
Consultants,to prepare a statement of information and solicitation for bids describing the
Notes and providing for the terms and conditions oftheir sale.
Section 4.All resolutions and orders or parts thereof in conflict with the
provisions of this resolution,to the extent of such conflict,are hereby repealed.
Section 5.This resolution shall be in full force and effect inunediately upon
its adoption and approval,as provided by law.
Passed and approved April21,2003.
Attest:
Mark J.Arents ,City Administrator/Clerk
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,n.
Bill Peard
Mike Watts
Council Seat Vacant
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