HomeMy WebLinkAbout2013-04-01-Resolutions 13-071_Bonds - GO URR - Additional ActionRESOLUTION 13-071
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION
AND ISSUANCE OF NOT TO EXCEED $2,000,000
GENERAL OBLIGATION URBAN RENEWAL BONDS
WHEREAS,by Resolution No.12-251,dated November 19,2012,the City
Council approved Amendment No.3 to the Waukee Unified Urban Renewal Plan
pursuant to which projects necessary to the development of said Area were enumerated;
and
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 $2,000,000 General Obligation Urban Renewal Bonds,for the purpose
of paying costs of assisting 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 costs associated with the Alice's Road
Bridge Project,with related site work,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 Section 384.25 of the City 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 $2,000,000 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 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:
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