HomeMy WebLinkAbout2011-06-06-Resolutions 11-87_Bonds - GO CLN - Additional ActionRESOLUTION 11-87
RESOLUTION lNSTlTUTlNG PROCEEDlNGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORlZATION OF
A LOAN AGREEMENT AND THE ISSUANCE OF NOT
TO EXCEED $165,000 GENERAL OBLIGATION
CAPlTAL LOAN NOTES
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
authorization of a Loan Agreement and the issuance of not to exceed $165,000 General
Obligation Capital Loan Notes,for the purpose of paying costs of acquiring an
ambulance,and has considered the extent of objections received from residents or
property owners as to the proposal 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 ClTY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That this Council does hereby institute proceedings and take additional
action for the authorization of a Loan Agreement and issuance in the manner required by
law of not to exceed $165,000 General Obligation Capital Loan Notes,to evidence the
obligation thereof 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 loan agreement.The amounts
so advanced shall be reimbursed from the proceeds of the Loan Agreement 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 loan amount authorized in this
Resolution unless the same are for preliminary expenditures or unless another declaration of
intention is adopted.
PASSED AND APPROVED this 6th day of June,2011.
ATTEST:
City
\
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Darlene Stanton
Mike Watts
AYE
x
X
X
X
NAY ABSENT
X
ABSTAIN