HomeMy WebLinkAbout2011-02-07-Resolutions 11-27_Bonds - GO CLN Series 2011 - Set PHRESOLUTION #11-27
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $160,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES,SERIES 2011,
(FOR A GENERAL CORPORATE PURPOSE)OF THE
CITY OF WAUKEE,STATE OF IOWA,AND PROVIDING
FOR PUBLICATION OF NOTICE THEREOF
WHEREAS,it is deemed necessary and advisable that the City of Waukee,State
of Iowa,should provide for the authorization of a Loan Agreement and the issuance of
General Obligation Capital Loan Notes,Series 2011,to the amount of not to exceed
$160,000,as authorized by Sections 384.24,384.24A and 384.26,Code ofIowa,as
amended,for the purpose of providing funds to pay costs of carrying out a general
corporate purpose proj ect as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable from the Debt
Service Fund;and
WHEREAS,the City has a population of more than 5,000,but not more than
75,000,and the amount of the proposed note issue is not more than $700,000;and
WHEREAS,before a Loan Agreement may be authorized and General Obligation
Capital Loan Notes,Series 2011,issued to evidence the obligation of the City thereunder,
it is necessary to comply with the provisions ofthe City Code ofIowa,as amended,and
to publish a notice of the proposal and of the time and place of the meeting at which the
Council proposes to take action for the authorization of the Loan Agreement and Notes
and the right to petition for an election;
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230 West
Hickman Road,Waukee,Iowa,at 5:30 o'clock P.M.,on the 28th day of February,2011,
for the purpose of taking action on the matter of the authorization of a Loan Agreement
and the issuance of not to exceed $160,000 General Obligation Capital Loan Notes,
Series 2011,the proceeds of which will be used to pay costs of equipping of golf courses
including the purchase of golf carts and shall bear interest at a rate not exceeding the
maximum specified in the attached notice.
Section 2.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 2011,evidencing the City's obligations to a
principal amount of not to exceed $160,000,to select a date for the final approval thereof,
to cause to be prepared such notice and sale 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 3.That the Clerk is hereby directed to cause at least one publication to be
made of a notice of meeting,in a legal newspaper,printed wholly in the English
language,published at least once weeldy,and having general circulation in the City.The
publication to be not less than ten (10)clear days before the date of the public meeting on
the issuance of the Notes.
Section 4.The notice of the proposed action shall be in substantially the following
form:
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA,ON THE
MATTER OF THE PROPOSED AUTHORIZATION OF A
LOAN AGREEMENT AND THE ISSUANCE OF NOT TO
EXCEED $160,000 GENERAL OBLIGATION CAPITAL
LOAN NOTES,SERIES 2011,(FOR A GENERAL
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,State of
Iowa,will hold a public hearing on the 28th day of February,2011,at 5:30 o'clock P.M.,
in the Council Chambers,City Hall,230 West Hickman Road,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 $160,000 General Obligation Capital Loan
Notes,Series 2011,for a general corporate purpose,bearing interest at the rate of not to
exceed nine (9)per centum per annum,in order to pay costs of equipping of golf courses
including the purchase of golf carts.Principal and interest on the proposed Loan
Agreement will be payable from the Debt Service Fund.
At any time before the date of the meeting,a petition asking that the question of
entering into a loan agreement and issuing such notes be submitted to the legal voters of
the City,may be filed with the Clerk of the City in the manner provided by Section 362.4
of the City Code ofIowa pursuant to Section 384.26 of the City Code ofIowa.
This Notice is given by order ofthe Council of the City of Waukee,State ofIowa,
as provided by Sections 384.24,384.24A and 384.26 of the City Code ofIowa,as
amended.
Dated this 7th day of February,2011.
City Clerk of the City of Waukee,State of
Iowa
(End of Notice)
PASSED AND APPROVED this ih day of February,2011.
ATTEST:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Darlene Stanton
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN