HomeMy WebLinkAbout2010-04-19-Resolutions 10-94_Bonds - URR Series 2010C - Additional ActionRESOLUTION #10-94
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $1,650,000 URBAN RENEWAL REVENUE
BONDS
WHEREAS,pursuant to notice published as required by law,a public meeting and
hearing has been held upon the proposal to institute proceedings for the issuance of not to
exceed $1,650,000 Urban Renewal Revenue Bonds for the purpose of paying costs of
aiding in the planning,undertaking and carrying out of an urban renewal project,
including the constrnction and equipping of a public works facility,with related site
improvements;and the extent of objections received from residents or property owners as
to the proposed issuance of bonds has been fully considered;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 governing body does hereby institute proceedings and takes
additional action for the sale and issuance in the manner required by law of not to exceed
$1,650,000 Urban Renewal Revenue Bonds for the foregoing 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 nnless another declaration of intention is adopted.
PASSED AND APPROVED this 19th day of April,2010.
ATTEST:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Darlene Stanton
Mike Watts
AYE
X
X
X
X
X
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Mayor Pro Tern
NAY ABSENT ABSTAIN