HomeMy WebLinkAbout2013-04-01-Resolutions 13-069_Bonds - GO - Additional ActionRESOLUTION 13-069
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION
AND ISSUANCE OF NOT TO EXCEED $340,000
GENERAL OBLIGATION BONDS
WHEREAS,pursuant to notice published as required by law,the City Council has
held a public meeting and hearing upon the proposal to institute proceedings for the
issuance of not to exceed $340,000 General Obligation Bonds,for a general corporate
purpose,in order to provide funds to pay costs of trail improvements,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 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 authorization and issuance in the manner required by law of not to exceed
$340,000 General Obligation Bonds,for the foregoing general 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 ofthe 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 1"day of April,2013.
ATTEST:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
X
X
X
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X
NAY ABSENT ABSTAIN