HomeMy WebLinkAbout2012-02-27-Resolutions 12-28_Bonds - 675 Walnut St-Community Center GO - IssuanceRESOLUTION 12-28
RESOLUTION AUTHORlZING THE ISSUANCE OF
$575,000 GENERAL OBLIGATION BONDS,SERlES
2012,AND LEVYING A TAX FOR THE PAYMENT
THEREOF
WHEREAS,the City of Waukee,State ofIowa ("Issuer"),is a municipal
corporation,organized and existing under the Constitution and laws of the State ofIowa,
and is not affected by any special legislation;and
WHEREAS,the Issuer is in need of funds to pay costs of renovating,
reconstructing and equipping an existing City fire station for use as the Waukee
Community Center,including associated site improvements and landscaping,(the
"Project"),and it is deemed necessary and advisable that General Obligation Bonds,
Series 2012,in the amount of$575,000 be issued;and
WHEREAS,the City Council has taken such acts as are necessary to authorize
issuance of the Bonds;and
WHEREAS,the City Council has taken additional action to authorize issuance of
the Bonds.
NOW,THEREFORE,IT IS RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.Authorization of the Issuance.General Obligation Bonds,Series 2012,
in the amount of $575,000 shall be issued pursuant to the provisions ofIowa Code
Section 384.26 for the purposes covered by the hearing.
Section 2.Levy of Annual Tax.For the purpose of providing funds to pay the
principal and interest as required under Chapter 76.2,there is levied for each future year
the following direct annual tax upon all the taxable property in the City of Waukee,State
ofIowa,to wit:
AMOUNT
FISCAL YEAR (JULY 1 TO JUNE 30)
YEAR OF COLLECTION
$155,468.00 2012/2013
Principal and interest coming due at any time when the proceeds of the tax on
hand are insufficient to pay the amount due shall be promptly paid when due from current
funds available for that purpose and reimbursement must be made.
Section 3.Amendment ofLevv of Annual Tax.Based upon the terms of the future
sale of the Bonds to be issued,this Council will file an amendment to this Resolution
("Amended Resolution")with the County Auditor.
Section 4.Filing.A certified copy of this Resolution shall be filed with the County
Auditor of County of Dallas,State of Iowa,who shall,pursuant to Iowa Code Section
76.2,levy,assess and collect the tax in the same manner as other taxes and,when
collected,these taxes shall be used only for the purpose of paying principal and interest
on the Bonds.
PASSED AND APPROVED this 27th day of February,2012.
ATTEST:
City
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ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE NAY
X
ABSENT ABSTAIN
X
X
X
X