HomeMy WebLinkAbout2010-02-22-Resolutions 10-38_Bonds - GO Pre-Levy - Additional ActionRESOLUTION #10-38
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $1,500,000 GENERAL OBLIGATION BONDS
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 issuance of not to
exceed $1,500,000 General Obligation Bonds,for the essential corporate purpose of paying costs
of construction,reconstruction and repair of municipal street improvements;and undertaking a
project jointly with the WRA for improvements to the treatment plant,and has considered the
extent of objections received from residents or property owners as to the proposed issuance of
bonds;and,accordingly the following action is now considered to be in the best interests ofthe
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 sale and issuance in the manner required by law of not to exceed $1,500,000 General
Obligation Bonds for the foregoing essential corporate purpose.
Section 2.This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.150-2 and shall be maintained on file as a public record of such intent.It is
reasonably expected that the general fund moneys may be advanced from time to time for capital
expenditures which are to be paid from the proceeds of the above Bonds.The amounts so
advanced shall be reimbursed from the proceeds of the Bonds not later than eighteen months after
the initial payment of the capital expenditures or eighteen months after the property is placed in
service.Such advancements shall not exceed the amount authorized in this Resolution unless the
same are for preliminary expenditures or unless another declaration of intention is adopted.
PASSED AND APPROVED this 22nd day of February,2010.
ATTEST:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Darlene Stanton
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN