HomeMy WebLinkAbout2012-04-16-Resolutions 12-81_Bonds - GO Series 2012A - Additional ActionRESOLUTION 12-81
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $6,900,000 GENERAL OBLIGATION
BONDS
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 issuance
of not to exceed $6,900,000 General Obligation Bonds,for essential corporate purposes
of paying costs of refunding General Obligation Bonds,Series 2003,2004A and 2004C
issues,for advance refunding of General Obligation Bonds,Series 2007 A issue,and
sidewalk improvements,and has considered the extent of objections received from
residents or property owners as to the proposed issuance of bonds;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 Council does hereby institute proceedings and take additional
action for the sale and issuance in the manner required by law of not to exceed
$6,900,000 General Obligation Bonds,for the foregoing essential corporate 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 unless another declaration of intention is adopted.
PASSED AND APPROVED this 16th day of April,2012.
ATTEST:
Cit\.;t r
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN