HomeMy WebLinkAbout2005-12-19-Resolutions 05-245_Bonds - Essential Corp Purpose Loan Agr - Set PHRESOLUTION NO.05-245
Resolution to fix a date for public hearings on Loan Agreements
WHEREAS,pursuant to the provisions of Section 384.24A of the Code ofIowa,the City
of Waukee,in the County of Dallas,State of Iowa (the "City"),proposes to enter into a loan
agreement (the "Essential Corporate Purpose Loan Agreement")in a principal amount not to
exceed $575,000 for the essential corporate purposes of installing traffic signals and constructing
certain street,sidewalk,storm sewer and sanitary sewer improvements,and it is necessary to fix
a date of meeting of the Council at which it is proposed to take action to enter into the Essential
Corporate Purpose Loan Agreement and to give notice thereof as required by such law;and
WHEREAS,pursuant to the provisions of Section 384.24A of the Code ofIowa,the City
also proposes to enter into a loan agreement (the "Park Expansion and Improvement Loan
Agreement")in a principal amount not to exceed $300,000 for the general corporate purpose of
the acquisition of land and construction of improvements for a municipal park,and in lieu of
calling an election therefor,the City desires to institute proceedings to enter into the Park
Expansion and Improvement 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.TIns Council shall meet on January 9,2006,at the Council Chambers,
City Hall,Waukee,Iowa,at 7 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 Essential Corporate Purpose
Loan Agreement and the Park Expansion and Improvement Loan Agreement.
Section 2.The City Clerk is hereby directed to give notice of the proposed action on
the Essential Corporate Purpose 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 4 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:
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NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $575,000
(GENERAL OBLIGATION)
The City Council of the City of Waukee,Iowa,will meet on January 9,2006,at the
Council Chambers,City Hall,Waukee,Iowa,at 7 o'clock p.m.,for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "Essential Corporate Purpose
Loan Agreement")in a principal amount not to exceed $575,000 for the purpose of paying the
cost,to that extent,of installing traffic signals and constructing certain street,sidewalk,storm
sewer and sanitary sewer improvements.
The Essential Corporate Purpose 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 ofthe City.
At the aforementioned time and place,oral or written objections may be filed or made to
the proposal to enter into the Essential Corporate Purpose Loan Agreement.After receiving
obj ections,the City may determine to enter into the Essential Corporate Purpose Loan
Agreement,in which case,the decision will be final unless appealed to the District Court within
fifteen (15)days thereafter.
By order of the City Council of the City of Waukee,Iowa.
Mark Arentsen
City Clerk
Page 3
Section 3.The City Clerk is hereby directed to give notice of the proposed action on
the Park Expansion and Improvement 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:
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NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $300,000
(GENERAL OBLIGATION)
The City Council of the City of Waukee,Iowa,will meet on January 9,2006,at the
Council Chambers,City Hall,Waukee,Iowa,at 7 o'clock p.m.,for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "Park Expansion and
Improvement Loan Agreement")in a principal amount not to exceed $300,000 for the purpose of
paying the cost,to that extent,of the acquisition ofland and construction of improvements for a
municipal park.
The Park Expansion and Improvement 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 Park Expansion and
Improvement Loan Agreement is 7%per annum.
At any time before the aforementioned date fixed for taking action to enter into the Park
Expansion and Improvement Loan Agreement,a petition may be filed with the City Clerk of the
City asking that the question of entering into the Park Expansion and Improvement Loan
Agreement be submitted to the registered voters of the City,pursuant to the provisions of
Section 384.26 ofthe Code of Iowa,
By order of the City Council of the City of Waukee,Iowa.
Mark Arentsen
City Clerk
Page 5 ISection4.All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved December 19,2005.
Attest:
~ark r,Arent en,ity Administrator
ROLL CALL VOTE AYE NAY ABSENT
Nicholas C.Gruber X
Donald L.Bailey,Jr.X
Bill Peard X
JeffV.Mertz X
Darlene Stanton X
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