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HomeMy WebLinkAbout2008-07-07-Resolutions 08-156_Bonds - GO CLN Series 2008 - Set PHRESOLUTION 08-156 RESOLUTION FIXING DATE FOR A MEETING ON THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $140,000 GENERAL OBLIGATION CAPITAL LOAN NOTES OF WAUKEE, IOWA,AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS,it is deemed necessary and advisable that the City of Waukee,Iowa, should provide for the authorization of a Loan Agreement and the issuance of General Obligation Capital Loan Notes to the amount of not to exceed $140,000,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 Notes shall be payable from the General Fund;and WHEREAS,before a Loan Agreement may be authorized and General Obligation Capital Loan Notes issued to evidence the obligation of the City thereunder,it is necessary to comply with the provisions of the City Code ofIowa,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 Notes 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,IOWA: Section 1.That this Council meet in the City Hall,230 Highway 6,Waukee, Iowa,at seven o'clock P.M.,on the 21st day of July,2008,for the purpose of taking action on the matter of the authorization of a Loan Agreement and the issuance of Not to exceed $140,000 General Obligation Capital Loan Notes 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 costs of acquisition of an ambulance and ambulance equipment for the City . Section 2.To the extent any of the projects or activities described in this resolution may be reasonably construed to be included in more than one classification under Division III of the City Code ofIowa,the Council hereby elects the "essential -1- corporate purpose"classification and procedure with respect to each such project or activity,pursuant to Section 384.28 of the City Code ofIowa. Section 3.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 General Obligation Capital Loan Notes,Series 2008,evidencing the City's obligations to a principal amount of not to exceed $140,000,to select a date for the final approval thereof; to cause to be prepared such notice 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 4.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 Notes. Section 5.The notice of the proposed action shall be in substantially the following form: -2-I NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE,IOWA,ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $140,000 GENERAL OBLIGATION CAPITAL LOAN NOTES (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,Iowa, will hold a public hearing on the 21st day of July,2008,at seven o'clock P.M.,in the City Hall,230 Highway 6,Waukee,Iowa,at which meeting the Council proposes to take additional action for the authorization of a Loan Agreement and the issuance of Not to exceed $140,000 General Obligation Capital Loan Notes for an essential corporate purpose of the City,in order to pay costs of costs of acquisition of an ambulance and ambulance equipment for the City .Principal and interest due from the general fund of the City on the proposed Loan Agreement and all other loan agreements in force on the date of authorization will not exceed ten (10)percent of the last certified general fund budget amount. 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 ofthe City thereunder or will abandon the proposal. This Notice is given by order of the Council of Waukee,Iowa,as provided by Sections 384.24A and 384.25 of the City Code ofIowa,as amended. Dated this 7th day of July,2008. Jeffrey L.Kooistra City Clerk of Waukee,Iowa (End of Notice) -3- PASSED AND APPROVED this 7th day of July,2008. O~4t11~ Mayor Pro Tern ATTEST: ROLL CALL VOTE AYE NAY ABSENT ABSTAIN Donald L.Bailey,Jr.X Casey L.Harvey X C.Isaiah McGee X Darlene Stanton X Mike Watts X -4-