HomeMy WebLinkAbout2009-12-07-Resolutions 09-245_Bonds - GO CLN - Set PHRESOLUTION 09-245
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF A NOT TO EXCEED $560,000 GENERAL
OBLIGATION CAPITAL LOAN NOTE,OF THE CITY OF
WAUKEE,STATE OF IOWA,AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS,it is deemed necessary and advisable that the City of Waukee,State
of Iowa,should provide for the authorization of a Loan Agreement and the issuance of a
General Obligation Capital Loan Note,to the amount of not to exceed $560,000,as
authorized by Sections 384.24,384.24A and 384.25,Code ofIowa,as amended,for the
purpose of providing funds to pay costs of carrying out an essential corporate purpose
project as hereinafter described;and
WHEREAS,the Loan Agreement and Note shall be payable from the Debt
Service Fund;and
WHEREAS,before a Loan Agreement may be authorized and a General
Obligation Capital Loan Note,issued to evidence the obligation of the City thereunder,it
is necessary to comply with the provisions of the City Code of Iowa,as amended,and to
publish a notice of the proposal and of the time and place ofthe meeting at which the
Council proposes to take action for the authorization of the Loan Agreement and Note
and to receive oral and/or written objections from any resident or property owner of the
City to such action;
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230 W.
Hickman Rd,Waukee,Iowa 50263,at 7:00 o'clock P.M.,on the 21st day of December,
2009,for the purpose of taking action on the matter of the authorization of a Loan
Agreement and the issuance of a not to exceed $560,000 General Obligation Capital Loan
Note,to evidence the obligations of the City thereunder for an essential corporate purpose
of the City,the proceeds of which will be used to pay costs of adjusting,extending and
refunding existing General Obligation indebtedness including the outstanding portion of
the $700,000 General Obligation Golf Course Note,Series 2005.
Section 2.The Clerk is authorized and directed to proceed on behalf of the City
with the negotiation of terms of a Loan Agreement and the issuance of a General
Obligation Capital Loan Note,evidencing the City's obligations to a principal amount of
not to exceed $560,000,to select a date for the final approval thereof,to cause to be
prepared such notice and sale information as may appear appropriate,to publish and
distribute the same on behalf of the City and this Council and otherwise to take all action
necessary to permit the completion of a loan on a basis favorable to the City and
acceptable to the Council.
Section 3.That the Clerk is hereby directed to cause at least one publication to be
made of a notice of the meeting,in a legal newspaper,printed wholly in the English
language,published at least once weekly,and having general circulation in the City.The
publication to be not less than four clear days nor more than twenty days before the date
of the public meeting on the issuance of the Note.
Section 4.The notice ofthe proposed action shall be in substantially the following
form:
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
WAUKEE,STATE OF IOWA,ON THE MATTER OF THE
PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND
THE ISSUANCE OF A NOT TO EXCEED $560,000 GENERAL
OBLIGATION CAPITAL LOAN NOTE (FOR AN ESSENTIAL
CORPORATE PURPOSE)AND THE PUBLIC HEARING ON THE
AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the Council of the City of Waukee,State of
Iowa,will hold a public hearing on the 21st day of December,2009,at 7:00 o'clock P.M.,
in the Council Chambers,City Hall,230 W.Hickman Rd,Waukee,Iowa 50263,at which
meeting the Council proposes to take additional action for the authorization of a Loan
Agreement and the issuance of a not to exceed $560,000 General Obligation Capital Loan
Note,for an essential corporate purpose of the City,in order to pay costs of adjusting,
extending and refunding existing General Obligation indebtedness including the
outstanding portion of the $700,000 General Obligation Golf Course Note,Series 2005.
Principal and interest on the proposed Loan Agreement will be payable from the Debt
Service Fund.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City,to the above action.After all objections have been
received and considered,the Council will at this meeting or at any adjournment thereof,
take additional action for the authorization of a Loan Agreement and the issuance of
Notes to evidence the obligation of the City thereunder or will abandon the proposal.
This Notice is given by order of the Council of the City of Waukee,State ofIowa,
as provided by Sections 384.24,384.24A and 384.25 of the City Code ofIowa,as
amended.
Dated this ill day of December,2009.
Jeffrey L.Kooistra
City Clerk,City of Waukee,State ofIowa
(End of Notice)
PASSED AND APPROVED this 7th day of December,2009.
ATTEST:
ROLL CALL VOTE
Donald L.Bailey,Jr.
Casey L.Harvey
C.Isaiah McGee
Darlene Stanton
Mike Watts
AYE
X
X
X
X
M yor
NAY ABSENT ABSTAIN
X