HomeMy WebLinkAbout2013-04-01-Resolutions 13-070_Bonds - GO - Additional ActionRESOLUTION 13-070
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $985,000 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 $985,000 General Obligation Bonds,for the essential corporate purpose
of paying costs of equipping the fire department,including acquisition of a fire engine;
and refunding outstanding indebtedness of the City including the General Obligation
Capital Loan Notes,Series 2010,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 $985,000
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 1st day of April,2013.
ATTEST:
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City Administrator
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN