HomeMy WebLinkAbout2011-05-23-Resolutions 11-85_Bonds - GO CLN - Set PHRESOLUTION 11-85
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $165,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES 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,to the amount of not to exceed $165,000,as
authorized by Sections 384.24,384.24A and 384.25,Code ofIowa,as amended,for the
purpose of providing funds to pay costs of carrying out an essential corporate purpose
project as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable from the Debt
Service Fund;and
WHEREAS,before a Loan Agreement may be authorized and General Obligation
Capital Loan Notes issued to evidence the obligation of the City thereunder,it is
necessary to comply with the provisions of the 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 to receive oral and/or written objections from any resident or property owner of the
City to such action;
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 6th day of June,2011,for the
purpose of taking action on the matter of the authorization of a Loan Agreement and the
issuance of not to exceed $165,000 General Obligation Capital Loan Notes,to evidence
the obligations of the City thereunder for an essential corporate purpose ofthe City,the
proceeds of which will be used to pay costs of acquiring an ambulance.
Section 2.To the extent any of the projects or activities described in this resolution
may be reasonably construed to be included in more than one classification under
Division III of the City Code ofIowa,the Council hereby elects the "essential corporate
purpose"classification and procedure with respect to each such project or activity,
pursuant to Section 384.28 of the City Code ofIowa.
Section 3.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 evidencing the City's obligations to a principal amount of
not to exceed $165,000,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 4.That the Clerk is hereby directed to cause at least one publication to be
made of a notice of the 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 four clear days nor more than twenty days before the date
of the public meeting on the issuance of the Notes.
Section 5.The notice of the proposed action shall be in substantially the following
fonn:
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 $165,000 GENERAL OBLIGATION CAPITAL
LOAN NOTES (FOR AN ESSENTIAL 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 6th day of June,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 $165,000 General Obligation Capital Loan Notes,for
an essential corporate purpose of the City,in order to pay costs of acquiring an
ambulance.Principal and interest on the proposed Loan Agreement will be payable from
the Debt Service Fund.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City,to the above action.After all objections have been
received and considered,the Council will at this meeting or at any adjournment thereof,
take additional action for the authorization of a Loan Agreement and the issuance of
Notes to evidence the obligation of the City thereunder or will abandon the proposal.
This Notice is given by order of the Council of the City of Waukee,State ofIowa,
as provided by Sections 384.24A and 384.25 of the City Code ofIowa,as amended.
Dated this n'd day of May,2011.
City Clerk,City of Waukee,State ofIowa
(End of Notice)
PASSED AND APPROVED this 23rd day of May,2011.
ATTEST:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Darlene Stanton
Mike Watts
AYE
X
X
X
X
NAY ABSENT
X
ABSTAIN