HomeMy WebLinkAbout2012-11-19-Resolutions 12-249_Bonds - GO Urban Renewal Series 2012D - Additional ActionRESOLUTION 12-249
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION AND
ISSUANCE OF NOT TO EXCEED $4,000,000 GENERAL
OBLIGATION URBAN RENEWAL 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 $4,000,000 General Obligation Urban Renewal Bonds for the purpose of
paying costs of aiding in the planning,undertaking and carrying out of urban renewal
projects under the authority ofIowa Code chapter 403 and the Waukee Unified Urban
Renewal Plan,as amended,including improvements and extensions to the City Sanitary
Sewer Utility,including Alice's Road Corridor Sewer Project,and no petition was filed
calling for a referendum thereon.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 COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA:
Section 1.That pursuant to Sections 382.24(3)(q),384.25 and 403.12 of the Code
ofIowa this Council does hereby institute proceedings and take additional action for the
authorization and issuance in the manner required by law of not to exceed $4,000,000
General Obligation Urban Renewal Bonds,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 sewer 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 19th day of November,2012.
ATTEST:
--t>......h Yt.~Interim City Mministrator
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN