HomeMy WebLinkAbout2009-12-21-Resolutions 09-252_Bonds - GO CLN - IssuanceRESOLUTION 09-252
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN
AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED
$560,000 GENERAL OBLIGATION CAPITAL LOAN NOTES
WHEREAS,pursuant to notice published as required by law,this Council has held
a public meeting and hearing upon the proposal to institute proceedings for the
authorization of a Loan Agreement and the issuance of not to exceed $560,000 General
Obligation Capital Loan Notes,for the purpose of paying 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,and has considered
the extent of objections received from residents or property owners as to the proposal
and,accordingly the following action is now considered to be in the best interests of the
City and residents thereof:
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That this Council does hereby institute proceedings and take additional
action for the authorization of a Loan Agreement and issuance in the manner required by
law of not to exceed $560,000 General Obligation Refunding Capital Loan Notes,to
evidence the obligation thereof for the foregoing purpose.
Section 2.The Clerk is authorized and directed to proceed on behalf of the City
with the sale of said Notes,to select the principal amount of Notes to be sold and a date
for the sale thereof,to cause to be prepared such sale information as may appear
appropriate,to distribute the same on behalf of the City and this Council and otherwise to
take all action necessary to permit the sale of said Bonds on a basis favorable to the City
and acceptable to the Council.
PASSED AND APPROVED this 21st day of December,2009.
ATTEST:
Cit
ROLL CALL VOTE
Donald L.Bailey,Jr.
Casey L.Harvey
C.Isaiah McGee
Darlene Stanton
Mike Watts
AYE
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X
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NAY ABSENT ABSTAIN