HomeMy WebLinkAbout2015-02-02-Resolutions 15-043_Bonds - Natural Gas Revenue Refunding CLN Series 2015 - Set PHRESOLUTION 15-043
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $3,200,000 NATURAL GAS
UTILITY REVENUE REFUNDING CAPITAL LOAN NOTES,OF
THE CITY OF WAUKEE,STATE OF IOWA,AND PROVIDING
FOR PUBLICATION OF NOTICE THEREOF
WHEREAS,it is deemed necessary and advisable that the City of Waukee,State of Iowa,
should provide for the authorization of a Loan Agreement and the issuance of Natural Gas Utility
Revenue Refunding Capital Loan Notes,in the amount of not to exceed $3,200,000,as
authorized by Sections 384.24A and 384.83,Code of Iowa,as amended,for the purpose of
providing funds to pay costs as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable solely and only out of the
Net Revenues of the Natural Gas Utility and shall be a lien on the future Net Revenues of the
Utility;and shall not be general obligations of the City or payable in any manner by taxation and
the City shall be in no manner liable by reason of the failure of the Net Revenues to be sufficient
for the payment of the Loan Agreement and Notes;and
WHEREAS,before a Loan Agreement may be authorized and Natural Gas Utility
Revenue Refunding Capital Loan Notes issued to evidence the obligation of the City thereunder,
it is necessary to comply with the provisions of the Code of Iowa,as amended,and to publish a
notice of the proposal and of the time and place of the meeting at winch the Council proposes to
take action for the authorization of the Loan Agreement and Notes and to receive oral and/or
written objections from any resident or property owner of the City to such action.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUIME,STATE OF IOWA:
Section 1.Th.at this Council meet in the Council Chambers,City Hall,230 West
Hickman Road,Waukee,Iowa,at 5:30 P.M,,on the 17'"day of February,2015,for the purpose
of taking action on the matter of the authorization of a Loan Agreement and the issuance of not
to exceed $3,200,000 Natural Gas Utility Revenue Refunding Capital Loan Notes,to evidence
the obligations of the City thereunder,the proceeds of wliich will be used to provide funds to pay
the costs of refunding outstanding obligation of the City's Natural Gas Utility,including the
Natural Gas Utility System Revenue Bonds,Series 2007.
Section 2.The Clerk is authorized and directed to proceed on behalf of the City with the
negotiation of terms of a Loan Agreement and the issuance of Natural Gas Utility Revenue
Refunding Capital Loan Notes,to a principal amount of not to exceed $3,200,000,to select a
date for the final approval thereof,to cause to be prepared such information as may appear
appropriate,to distribute the same on behalf of the City and this Council and otherwise to take all
action necessary to permit the completion of a loan on a basis favorable to the City and
acceptable to the Council.
Section 3.That the Clerk is hereby directed to cause at least one publication to be made
of a notice of the meeting,in a legal newspaper,printed wholly in the English language,
published at least once weekly,and having general circulation in the City.The publication to be
not less than four clear days nor more than twenty days before the date of the public meeting on
the issuance of the Notes.
Section 4.The notice of the proposed action shall be in substantially the following fornt:
(To be published on or before:February 11,2015)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA,ON THE MATTER OF THE
PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND
THE ISSUANCE OF NOT TO EXCEED $3,200,000 NATURAL
GAS UTILITY REVENUE REFUNDING CAPITAL LOAN NOTES,
AND THE PUBLIC HEARING ON THE AUTHORIZATION AND
ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waukee,State of
Iowa,will hold a public hearing on the 17'"day of February,2015,at 5:30 P.M.,in the Council
Chambers,City Hall,230 West Hiclunan Road,Waukee,Iowa,at which meeting the Council
proposes to take additional action for the authorization of a Loan Agreement and the issuance of
not to exceed $3,200,000 Natural Gas Utility Revenue Refunding Capital Loan Notes,in order to
provide funds to pay the costs of refunding outstanding obligation of the City's Natural Gas
Utility,including the Natural Gas Utility System Revenue Bonds,Series 2007.The Notes will
not constitute general obligations or be payable in any manner by taxation,but will be payable
from and secured by the Net Revenues of the Natural Gas Utility.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City,to the above action.After all objections have been
received and considered,the Council will at this meeting or at any adjournment thereof,take
additional action for the authorization of a Loan Agreement and fhe issuance of Notes or will
abandon the proposal to issue the Notes.
This Notice is given by order of the City Council of the City of Waukee,State of Iowa,as
provided by Sections 384.24A and 384.83 of the Code of Iowa,as amended.
Dated this 2"day of February,2015.
Rebecca D.Sclruett
City Clerk,City of Waukee,State of Iowa
(End of Notice)
PASSED AND APPROVED this 2"day of February,2015.
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ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN