HomeMy WebLinkAbout2015-05-18-Resolutions 15-148_Bonds - GO Refunding CLN - Set PHRESOLUTION 15-148
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF A NOT TO EXCEED $310,000 GENERAL
OBLIGATION REFUNDING CAPITAL LOAN NOTE,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 a General
Obligation Refunding Capital Loan Note,to the amount of not to exceed $310,000,as authorized
by Sections 384.24A and 384.25,Code of Iowa,as amended,for the purpose of providing funds
to pay costs of carrying out an essential corporate purpose project as hereinafter described;and
WHEREAS,the Loan Agreement and Note shall be payable from the Debt Service Fund;
WHEREAS,before a Loan Agreement may be authorized and a General Obligation
Refunding Capital Loan Note,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 which the Council proposes to
take action for the authorization of the Loan Agreement and Note 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 WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230 W.Hickman
Rd,Waukee,Iowa,at 5:30 P.M.,on the I"day of June,2015,for the purpose of taking action on
the matter of the authorization of a Loan Agreement and the issuance of a not to exceed
$310,000 General Obligation Refunding Capital Loan Note,to evidence the obligations of the
City thereunder for an essential corporate purpose of the City,the proceeds of which will be used
to pay costs of adjusting,extending and refunding existing General Obligation indebtedness
including the outstanding portion of the $560,000 General Obligation Note,
Series 2010.
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 a General Obligation Refunding
Capital Loan Note,evidencing the City's obligations to a principal amount of not to exceed
$310,000,to select a date for the final approval thereof,to cause to be prepared such notice and
sale information as may appear appropriate,to publish and 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 Note.
Section 4.The notice of the proposed action shall be in substantially the following form:
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 A NOT TO EXCEED $310,000 GENERAL
OBLIGATION REFUNDING CAPITAL LOAN NOTE (FOR AN
ESSENTIAL CORPORATE PURPOSE)AND THE PUBLIC
HEARING ON THE AUTHORIZATION AND ISSUANCE
THEREOF
PUBLIC NOTICE is hereby given that the Council of the City of Waukee,State of Iowa,
will hold a public hearing on the I"day of June,2015,at 5:30 P.M.,in the Council Chambers,
City Hall,230 W.Hickman Rd,Waukee,Iowa,at which meeting the Council proposes to take
additional action for the authorization of a Loan Agreement and the issuance of a not to exceed
$310,000 General Obligation Refunding Capital Loan Note,for an essential corporate purpose of
the City,in order to pay costs of adjusting,extending and refunding existing General Obligation
indebtedness including the outstanding portion of the $560,000 General Obligation Note,Series
2010.Principal and interest on the proposed Loan Agreement will be payable from the Debt
Service Fund.
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 the issuance of Notes to
evidence the obligation of the City thereunder or will abandon the proposal.
This Notice is given by order of the Council of the City of Waukee,State of Iowa,as
provided by Sections 384.24A and 384.25 of the Code of Iowa,as amended.
Dated this 18 day of May,2015.
Rebecca D.Schuett
City Clerk,City of Waukee,State of Iowa
(End of Notice)
PASSED AND APPROVED this 18 day of May,2015.
yor
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