HomeMy WebLinkAbout2014-07-07-Resolutions 14-167_Reimburse for Expenditures - Declare Official IntentTHE CITY OF WAUKEE,IOWA
RESOLUTION 14-167
RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY
REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR
CERTAIN ORIGINAL EXPENDITURES PAID IN CONNECTION WITH
SPECIFIED PRO JECTS
IN THE NAME AND BY THE AUTHOMTY OF THE CITY OF 8'AUTRE,IO8'A
WHEREAS,the City of Waukee,Iowa is a duly organized municipality within Dallas
County;AND,
WHEREAS,the City anticipates making cash expenditures for one or more capital
improvement projects,generally described and attached hereto as Exhibit A,and
hereinafter referred to as "Project";AND,
WHEREAS,the City reasonably expects to issue debt to reimburse the costs of a
Project;AND,
WHEREAS,the Council believes it is consistent with the City's budgetary and financial
circumstances to issue this declaration of official intent.
NOW THEREFORE BE IT RESOLVED by the City of Council of the City of
Waukee,Iowa;
Section 1.That this Resolution be and does hereby serve as a declaration of official
intent under Treasury Regulationl.150-2.
Section 2.That it is reasonably expected that capital expenditures will be made in
respect of the foregoing Project,&om time to time and in such amounts as this Council
determines to be necessary or desirable under the circumstances then and there existing.
Section 3.That the City reasonably expects to reimburse all or a portion of the foregoing
expenditures with the proceeds of bonds,notes or other indebtedness to be issued or
incurred by the City in the future.
Section 4.That the total estimated costs of the Project,the maximum principal amount
of the bonds,notes or other indebtedness to be issued for the foregoing Project and the
estimated dates of completion of the Project are reasonably expected to be as follows:
See Exhibit A attaclzed
"'It is intended to see1c grants and other contri butions to reduce tlze amount of borrowing
required for several of the attache projects.Ifsuclz grants are not received,it is intended
that the costs to be financed will be increased accordingly.
Section 5.That the City reasonably expects to reimburse the above —mentioned Project
costs not later than the later of eighteen months after the capital expenditures are paid or
eighteen months after the property is placed in service.
Section 6.That this Resolution be maintained by the City Clerk in an Official Intent File
maintained in the office of the Clerk and available at all times for public inspection,
subject to such revisions as may be necessary.
PASSED AND APPROVED this 7'day of July,2014.
illiam F.Peard,Mayor
Attest:
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
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