HomeMy WebLinkAbout2005-08-01-Resolutions 05-142_Bonds - Water Capacity Loan Agr - Additional ActionRESOLUTION NO.05-142 ~ITakingadditionalactiontoenterintoaLoanAgreement
WHEREAS,the City of Waukee,Iowa (the "City")did heretofore establish a
Municipal Waterworks System (the "Water Utility")in and for the City which has
continuously supplied water service in and to the City and its inhabitants since its
establishment;and
WHEREAS,the management and control of the Water Utility is vested in the
Council and no board of trustees exists for this purpose;and
WHEREAS,the City has proposed to enter into a loan agreement (the "Water
Revenue Loan Agreement")in the principal amount of $3,800,000 pursuant to the
provisions of Section 384.24A of the Code ofIowa for the purpose of paying the cost,to
that extent,of purchasing long-term water capacity from Des Moines Water Works,and
has given notice thereof as required by such law and has held a hearing thereon;
NOW,THEREFORE,Be It Resolved by the City Council of the City of Waukee,
Iowa,as follows:
1.The City Council hereby determines to enter into the Water Revenue Loan
Agreement with Des Moines Water Works in the future and declares that this resolution
constitutes the "additional action"required by Section 384.24A ofthe Code ofIowa.12.The resolution and orders or parts thereof in conflict with the provisions of
this resolution,to the extent of such conflict,are hereby repealed.
3.This resolution shall be in full force and effect immediately upon its
adoption and approval,as provided by law.
Passed and approved August 1,2005.
Attest:
Mark 1.Arentse City Administrator/Clerk
ROLL CALL OTE AYE NAY
Nicholas C.Gruber X
Donald L.Bailey,Jr.X
Bill Peard X
JeffV.Mertz X
Darlene Stanton X
ABSENT
1