HomeMy WebLinkAbout2018-04-02-Resolutions 18-135_Bonds - Sewer Revenue - Additional ActionRESOLUTION 18-135
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $4,000,000 SEWER REVENUE 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 $4,000,000 Sewer Revenue Bonds,in order to provide funds to pay the costs of
improvements and extension to the City's municipal sewer utility,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 $4,000,000
Sewer Revenue 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 2"day of April,2018.
ATTEST:
yor
City Clerk
RESULTS OF VOTE:
Anna Bergman
R.Charles Bottenberg
Courtney Clarke
Shelly Hughes
Larry R.Lyon
AYE
X
X
X
NAY ABSENT ABSTAIN