HomeMy WebLinkAbout2005-03-28-Resolutions 05-45_Bonds - Golf Course Equipment Loan Agr - Set PHRESOLUTION NO.05-45
Resolution to fix a date for public hearing on a Loan Agreement
WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa,
the City also proposes to enter into a loan agreement (the "Golf Course Equipment Loan
Agreement")in a principal amount not to exceed $25,000 for the general corporate
purpose of paying the cost,to that extent,of acquiring a mower for the municipal golf
course,and in lieu of calling an election therefor,the City desires to institute proceedings
to enter into the Golf Course Equipment Loan Agreement by causing a notice of such
proposal to be published,including notice of the right to petition for an election,under
the provisions of Section 384.26 of the Code ofIowa;
NOW,THEREFORE,Be It Resolved by the City Council of the City of Waukee,
Iowa,as follows:
Section 1.This Council shall also meet on April 11,2005,at the Waukee City
Hall in the City,at 5:30 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 Golf Course Equipment
Loan Agreement.
Section 2.The City Clerk is hereby directed to give notice of the proposed
action on the Golf Course Equipment 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 10 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 IN A PRINCIPAL AMOUNT NOT TO EXCEED $25,000
(GENERAL OBLIGATION GOLF COURSE EQUIPMENT)
)
The City Council of the City of Waukee,Iowa,will meet on April II,2005,at the
Waukee City Hall,in the City,at 5:30 o'clock p.m.,for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "Golf Course
Equipment Loan Agreement")in a principal amount not to exceed $25,000 for the
purpose of paying the cost,to that extent,of acquiring a mower for the municipal golf
course.
The Golf Course Equipment Loan Agreement is proposed to be entered into
pursuant to authority contained in Section 384.24A of the Code of Iowa and will
constitute a general obligation of the City.
The maximum rate of interest which may be payable under the Golf Course
Equipment Loan Agreement is 7%per annum.
At any time before the aforementioned date fixed for taking action to enter into
the Golf Course Equipment Loan Agreement,a petition may be filed with the City Clerk
of the City asking that the question of entering into the Golf Course Equipment Loan
Agreement be submitted to the registered voters of the City,pursuant to the provisions of
Section 384.26 of the Code ofIowa.1
By order ofthe City Council of the City of Waukee,Iowa.
Mark Arentsen
City Clerk
1
Section 3.All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
Passed and approved March 28,2005.
Attest:
Mark J.Arentte ,City
Administrator/lerk
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,J1".
Bill Peard
JeffV.Mertz
Darlene Stanton
AYE
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NAY ABSENT
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