HomeMy WebLinkAbout2014-10-20-Resolutions 14-277_Bonds - GO Urban Renewal Series 2014 - Additional ActionRESOLUTION 14-277
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $24,700,000 GENERAL OBLIGATION URBAN
RENEWAL BONDS
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 $24,700,000 General Obligation Urban Renewal Bonds,for the essential corporate
purpose of paying costs of aiding in the planning,undeitaking and carrying out of urban renewal
projects under the authority of Iowa Code chapter 403 and the Urban Renewal Plans,as
amended,for the Waukee Unified Urban Reriewal Area and the Gateway Economic
Development Urban Renewal Area,including street,streetscape,sewer,storm sewer and water
utility improvements,and traffic signals for the Alice's Road extension,expansion,and
interchange improvements,and has considered the extent of objections received from residents
or property owners as to the proposed issuance of bonds;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 sale and issuance in the manner required by law of not to exceed $24,700,000 General
Obligation Urban Renewal Bonds,for the foregoing essential corporate purpose.
Section 2.This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.1S0-2 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 fhe amount authorized in this Resolution
unless the same are for preliminary expenditures or iuiiess another declaration of intention is
adopted.
PASSED AND APPROVED this 20"day of October,2014.
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ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
X
X
X
NAY ABSENT ABSTAIN