HomeMy WebLinkAbout2017-04-03-Resolutions 17-168_Bonds - GO - Additional ActionRESOLUTION 17-168
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $5,500,000 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 $5,500,000 General Obligation Bonds,for the essential corporate purposes,in order to
provide funds to pay the costs of opening,widening,extending,grading,and construction,
reconstruction,repairing of street improvements,with related utility work;the acquisition,
installation,and repair of traffic control devices;construction reconstruction and repair of trails,
sidewalks and pedestrian underpasses and overpasses,and the acquisition of real estate needed
for any of the foregoing purposes;rehabilitation and improvement of City parks already owned,
including facilities,equipment and improvements commonly found in City parks;and the
acquisition of ambulances and ambulance equipment,and has considered the extent of objections
received from residents or property owners as to the proposed issuance of Bonds;and 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 $5,500,000
General Obligation Bonds,for the foregoing essential corporate purposes.
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 3"day of April,2017.
ATTEST:
M or
City Clerk
ROLL CALL VOTE
Anna Bergman
R.Charles Bottenberg
Brian Harrison
Shelly Hughes
Larry R.Lyon
AYE
X
X
X
NAY ABSENT ABSTAIN