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Home My WebLink About2014-10-20-Resolutions 14-278_Bonds - GO Urban Renewal Series 2014 - Advertise SaleRESOLUTION 14-278 RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $23,295,000~GENERAL OBLIGATION URBAN RENEWAL BONDS,SERIES 2014,AND APPROVING ELECTRONIC BIDDING PROCEDURES AND OFFICIAL STATEMENT WHEREAS,by Resolution No.93,adopted December 13,1988,this Council found and determined that certain areas located witlun the City are eligible and should be designated as an urban renewal area under Iowa law,and approved and adopted the Waukee Urban Renewal Plan for the Waukee Urban Renewal Plan Area {the "Waukee Urban Renewal Area");and WHEREAS,by Resolution Nos.00-226,01-58,02-139,03-10,04-159 and 07-95,the Plan has been amended in 2000,2001,2002,2003,2003,2004 and 2007,respectively;and WHEREAS,by Resolution No.197,adopted June 15,1992,this Council found and determined that certain areas located within the City are eligible and should be designated as an urban renewal area under Iowa law;and approved and adopted the Waukee Southwest Urban Renewal Plan for the Waukee Southwest Urban Renewal Plan Area {the "Waukee Southwest Urban Renewal Area");and WHEREAS,by Resolution No.335,adopted March 20,1995,tlus Council found and determined that certain areas located witlun the City are eligible and should be designated as an urban.renewal area under Iowa law,and approved and adopted the Enterprise Business Park Urban Renewal Plan for the Enterprise Business Park Urban Renewal Plan Area {the Enterprise Business Park Urban Renewal Area");and WHEREAS,by Resolution.No.04-272,adopted December 20,2004,this Council approved and adopted an Amendment to consolidate the Hickman West Urban Renewal Area, Enterprise Business Park Urban Renewal Area,and the Waukee Urban Renewal Areas and add property as the Waukee Unified Urban Renewal Area;and WHEREAS,by Resolution Nos.11-80,11-224,12-251 and 2013-256,the Unified Plan was amended in 2011,2011,2012 and 2013,respectively;and WHEREAS,by Resolution No.13-257,adopted October 21,2013,tlus Council found and determined that certain areas located witlun the City are eligible and should be designated as an urban renewal area un.der Iowa law,and approved and adopted the Gateway Economic Development Urban Renewal Plan for the Gateway Economic Development Urban Renewal Plan Area {the "Gateway Economic Development Urban Renewal Area");and WHEREAS,before bonds may be issued,it is necessary to comply with the procedural requirements of Chapters 384 and 403 of the Code of Iowa,and to publish a notice of the proposal to issue such notes and the right to petition for an election;and WHEREAS,the Issuer is in need of funds to pay costs of aiding in the planning, undertaking 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 Renewal 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,essential corporate purpose(s),and it is deemed necessary and advisable that General Obligation Urban Renewal Bonds,to the amount of $23,295,000"'be authorized for said purpose(s);and WHEREAS,pursuant to notice published as required by Sections 384.24 (3)(q),384.25, and 403.12 of said Code,this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of said Bonds,and no petitions for referendum having been received,the Council is therefore now authorized to proceed with the issuance of said Bonds for such purpose(s);and WHEREAS,in conjunction with its Municipal Advisor,Public Financial Management, thc City has caused a Preliminary Official Statement to be prepared outlining the details of the proposed sale of the Bonds. WHEREAS,the Council has received information fiom its Municipal Advisor evaluating and reconunending the procedure hereinafter described for electronic,facsimile and internet bidding to maintain the integrity and security of the competitive bidding process and to facilitate the delivery of bids by interested parties;and WHEREAS,the Council deems it in the best interests of the City and the residents thereof to receive bids to purchase such Bonds by means of both sealed facsimile and electronic internet communication. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE,STATE OF IOWA; Section 1.That the receipt of electronic bids by facsimile machine and tlirough the Parity Competitive Bidding System described in the Notice of Sale and Official Statement are hereby found and determined to provide reasonable security and to maintain the integrity of the competitive bidding process,and to facilitate the delivery of bids by interested parties in connection with the offering at public sale, Section 2.That General Obligation Urban Renewal Bonds,Series 2014,of City of Waukee,State of Iowa,in the amount of $23,295,000*,to be issued as referred to in the preamble of this Resolution,to be dated December 10,2014,be offered for sale pursuant to the published advertisement. Section 3.That the preliminary Official Statement in the form presented to tliis meeting be and the same hereby is approved as to form and deemed fmal for purposes of Rule 15c2-12 of the Securities and Exchange Commission,subject to such revisions,corrections or modifications as the Mayor and City Clerk,upon the advice of bond counsel and the City's Municipal Advisor,shall determine to be appropriate,and is authorized to be distributed in coiinection with the offering of the Bonds for sale. Section 4.That the Clerk is hereby directed to publish notice of sale of the Bonds at least once,the last one of which shall be not less than four clear days nor more than twenty days before the date of the sale.Publication shall be made in "The Dallas County News",a legal newspaper,printed wholly in the English language,published within the county in which the Bonds are to be offered for sale or an adjacent county,The notice is given pursuant to Chapter 75 of the Code of Iowa,and shall state that this Council,on the 3'day of November,2014,at 5;30 o'clock P.M.,will hold a meeting to receive and act upon bids for said Bonds,which bids were previously received and opened by City Officials at 10 o'clock A.M.on said date,The notice shall be in substantially the following form: NOTICE OF BOND SALE Time and Place of Sealed Bids:Bids for the sale of Bonds of the City of Waukee,State of Iowa,hereafter described,must be received at the office of the City Clerk,Council Chambers, City Hall,230 West Hickman Road,Waukee,Iowa 50263;Telephone:515-987-4522 (the "Issuer")before 10 o'clock A.M.,on the 3'"day of November,2014.The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the TERMS OF OFFERING. The Bonds:The Bonds to be offered are the following: GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2014,in the amount of $23,295,000*,to be dated December 10,2014 (the "Bonds") *Subject to principal adjustment pursuant to official terms of offering. Manner of Biddin:Open bids will not be received.Bids will be received in any of the following meth.ods: 'dd':8 1'd „ b b ' d d of the City Clerk at City Hall,230 West Hickman Road,Waukee,Iowa 50263. Electronic Internet Biddin:Electronic internet bids will be received at the office of the City Clerk at City Hall,230 West Hickman Road,Waukee,Iowa 50263. The bids must be submitted through the PARITY competitive bidding system. Electronic Facsimile Biddin:Electronic facsimile bids will be received at the office of the City Clerk at City Hall,230 West Hickman Road,Waukee,Iowa 50263 (facsimile niunber:515-987-1845)or at the office of the City's Municipal Advisor,Public Financial Management,801 Grand Avenue,Suite 3300, Des Moines,Iowa,50309 (facsimile number:515-243-6994).Electronic facsimile bids will be sealed and treated as sealed bids. Consideration of Bids:After the time for receipt of bids has passed,the close of sealed bids will be announced.Sealed bids will then be publicly opened arid announced.Finally, electronic internet bids will be accessed and announced. Sale and Award:The sale and award of the Bonds will be held at tbe Council Chambers, City Hall,230 West Hickinan Road,Waukee,Iowa at a meeting of the City Council on the above date at 5:30 o'clock P.M. Official Statement:The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered,including a statement of the Terms of Offering and an Official Bid Form,which is incorporated by reference as a part of tliis notice.The Official Statement may be obtained by request addressed to the City Clerk,Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa 50263;Telephone:515-987-4522 or the Issuer's Municipal Consultant,Public Financial Management,801 Grand Ave,Suite 3300,Des Moines,Iowa, 50309,Telephone;515-243-2600. Terms of Offerin:All bids shall be in conformity with and the sale shall be in accord with the Terms of Offering as set forth in the Official Statement. »:Il d 1b d bi »h Attorneys of Des Moines,Iowa,as to the legality and their opinion will be furnished together with the printed Bonds without cost to the purchaser and all bids will be so conditioned,Except to the extent necessary to issue their opinion as to the legality of the Bonds,the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents,materials or statements made or furnished in connection with the sale,issuance or marketing of the Bonds. irregularities as deemed to be in the best interests of the public. By order of the City Council of the City of Waukee,State of Iowa. Rebecca D.Schuett City Clerk,City of Waukee,State of Iowa (End of Notice) PASSED AND APPROVED this 20'"day of October,2014. ayor ATTEST: City Clerk ROLL CALL VOTE Shane Blanchard Brian Harrison Casey L.Harvey Shelly Hughes Rick Peterson AYK X X X X NAY ABSKNT ABSTAIN