HomeMy WebLinkAbout2015-06-01-Resolutions 15-159_Bonds - GO Refunding CLN - Additional ActionRESOLUTION 15-159
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN
AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED
$310,000 GENERAL OBLIGATION REFUNDING CAPITAL LOAN
NOTES
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 authorization of a
Loan Agreement and the issuance of not to exceed $310,000 General Obligation Refunding
Capital Loan Notes,for the purpose of paying costs of adjusting,extending and refunding
existing General Obligation indebtedness including the outstanding portion of the $560,000
General Obligation Capital Loan Note,Series 2010,and has considered the extent of objections
received from residents or property owners as to the proposal and,accordingly 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 authorization of a Loan Agreement and issuance in the manner required by law of not to
exceed $310,000 General Obligation Refunding Capital Loan Notes,to evidence the obligation
thereof for the foregoing purpose.
Section 2.The Clerk is authorized and directed to proceed on behalf of the City with the
sale of said Notes,to select the principal amount of Notes to be sold and a date for the sale
thereof,to cause to be prepared such sale 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 sale of said Bonds on a basis favorable to the City and acceptable to the Council.
PASSED AND APPROVED this I"day of June,2015.
yor
ATTEST
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE
X
X
NAY ABSENT ABSTAIN